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Friday, August 31, 2012

Business Today: Stock futures imply steep gains ahead of Bernanke

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08/31/2012
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Stock futures imply steep gains ahead of Bernanke
NEW YORK (Reuters) - Stock index futures pointed to steep gains at the open on Friday as investors stepped back into equities ahead of a much-anticipated speech by Federal Reserve Chairman Ben Bernanke.
Weidmann resignation report turns up heat on ECB's Draghi
BERLIN/FRANKFURT (Reuters) - German central bank chief Jens Weidmann's reported threat to resign has piled pressure on European Central Bank President Mario Draghi to assuage his opposition to a new bond-buying plan without tying it up in so many knots it is rendered ineffective.
Analysis: JPMorgan faces sea of trouble resolving "Whale" probe
NEW YORK (Reuters) - The fallout from a nearly $6 billion trading loss at JPMorgan Chase & Co looks like it will haunt the big U.S. bank and its high-profile chief executive, Jamie Dimon, for months to come.
Bernanke may hint at QE without boxing Fed in
JACKSON HOLE, Wyoming (Reuters) - Federal Reserve Chairman Ben Bernanke will likely acknowledge the U.S. central bank is actively considering another round of monetary easing in his keynote Jackson Hole speech on Friday.
Spain capital outflows rise nearly 40 percent in June
MADRID (Reuters) - Spain saw close to a 40 percent rise in capital outflow in June, Bank of Spain data showed on Friday, as investor confidence in a country struggling to balance its public accounts eroded further.
Japan's Nomura to cut another $1 billion of costs in overseas revamp
TOKYO (Reuters) - Nomura Holdings Inc , Japan's largest investment bank, is cutting an additional $1 billion in costs in the second major restructuring of its loss-making overseas operations in less than a year.
Euro zone inflation jumps, weighs on rate cut bets
BRUSSELS (Reuters) - Euro zone inflation jumped more than expected in August, data showed on Friday, likely reducing chances that the European Central Bank will cut interest rates next Thursday.
Thousands stranded by Lufthansa cabin crew strike
FRANKFURT (Reuters) - A strike by Lufthansa cabin crew disrupted hundreds of flights on Friday, stranding thousands of passengers who faced further delays over a busy holiday travel weekend from a rolling series of stoppages about pay and cost cuts.
Greek austerity package draft targets pensions, wages
ATHENS (Reuters) - Greece plans to further slash pensions, social spending and public sector wages to find the bulk of nearly 12 billion euros of savings required to satisfy lenders, according to a draft list of measures obtained by Reuters on Friday.
Musk says may form holding company for Tesla, SpaceX
(Reuters) - Elon Musk, the founder of electric carmaker Tesla Motors Inc and privately held Space Exploration Technologies, is weighing whether to establish a holding company that would own stock in both companies.
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