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Wednesday, August 8, 2012

Business Today: Stock futures off after three days of gains

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08/8/2012
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 off after three days of gains
NEW YORK (Reuters) - Stock index futures dipped in low volume on Wednesday following three days of gains on Wall Street as traders awaited more signals about central bank action in support of a stalling global economy.
Exclusive: Regulators irate at NY action against Standard Chartered
By Carrick Mollenkamp and Emily Flitter and Karen Freifeld
U.S. productivity rises in second quarter, 2011 revised upward
WASHINGTON (Reuters) - Nonfarm productivity rose more than expected in the second quarter as companies expanded output but only modestly increased the hours worked by their employees, data from the Labor Department showed on Wednesday.
StanChart begins fightback on Iran allegations
NEW YORK/LONDON (Reuters) - Standard Chartered won some help from Britain's central bank governor on Wednesday in its fightback against the New York banking regulator's allegations that it had hidden $250 billion of transactions with Iran.
Bank of England in no rush for more stimulus despite bleak economy
LONDON (Reuters) - Britain's economy will barely grow this year and may have taken a bigger hit from the euro zone debt crisis than thought, the Bank of England said on Wednesday, but it gave little indication that it would rush to pour further stimulus into the economy.
Thais test Heineken's resolve to buy out APB
SINGAPORE/LONDON (Reuters) - Heineken's resolve to buy out Asia Pacific Breweries (APB), the maker of Tiger beer, is being tested by a group linked to Thailand's second-richest man as the fight for a bigger slice of one of the world's fastest-growing beer markets intensifies.
Murdoch to invest in Dutch cable soccer broadcaster
AMSTERDAM (Reuters) - Rupert Murdoch's international media business, FOX International Channels (FIC), is to buy a majority stake in a Dutch cable television soccer broadcaster, in a deal media reports said was worth around 1 billion euros ($1.24 billion).
France headed for recession: central bank
PARIS (Reuters) - France's economy is likely to slip into a shallow recession in the third quarter, the Bank of France said on Wednesday, dashing hopes for a robust recovery this year and adding to signs that Europe's economic prospects are worsening.
Euro zone doubts spur demand at German bond sale
LONDON/BERLIN (Reuters) - Investors snapped up safe-haven German 10-year bonds at auction on Wednesday, reflecting uncertainty over policymakers' latest plans to get to grip with the three-year old euro zone debt crisis.
Italian bank loans to business fall again
MILAN (Reuters) - Wary Italian banks are parking their money in government bonds rather than using it to boost business activity by lending to firms, signaling no let-up in the credit crunch that is crippling the euro zone's third largest economy.
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