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Wednesday, September 5, 2012

Business Today: Futures off on global growth worries; FedEx weighs

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09/5/2012
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
Futures off on global growth worries; FedEx weighs
NEW YORK (Reuters) - Stock index futures fell on Wednesday on concerns over global economic growth after data suggested weakness in the euro zone's private sector, and economic bellwether FedEx cut its profit forecast.
Second-quarter productivity raised, wage inflation muted
WASHINGTON (Reuters) - U.S. nonfarm productivity increased at a much faster clip than previously thought in the second quarter as businesses squeezed more output from employees, government data showed on Wednesday.
Microsoft, Nokia pin hopes on new Lumia as mobile war escalates
HELSINKI/NEW YORK (Reuters) - Nokia and Microsoft Corp will take the wraps off the struggling European company's most powerful smartphone on Wednesday, in what may be their last major shot at winning back a market lost to Apple, Samsung and Google.
EU prepares for clampdown on Libor-style indexes
BRUSSELS (Reuters) - The EU executive opened talks with the financial industry on Wednesday on how to impose curbs on financial market benchmarks and indexes, marking the start of a regulatory clampdown following rigging in London's inter-bank lending market.
Joining EU, Croatia aims for historic unification
DUBROVNIK, Croatia (Reuters) - Beneath the bell tower in Dubrovnik, behind the cold stone walls of the city's state archive, there is a map drawn by hand depicting an age of empires.
DOJ language crushes BP oil spill settlement hopes
LONDON (Reuters) - Hopes BP can settle early out of court on liability for its 2010 U.S. Gulf oil spill looked forlorn on Wednesday after U.S. prosecutors laid out a legal case for gross negligence on which tens of billions of dollars hang.
Analysis: ResCap bidders line up for rare subprime mortgage sale
NEW YORK (Reuters) - Mortgage lender Residential Capital is poised to reap billions in a bankruptcy auction of its assets next month - an unusual turn for a subprime lender in Chapter 11.
UK banks face rules to curb mis-selling incentives
LONDON (Reuters) - Britain's banks have 18 months to stamp out incentives that encourage the mis-selling of financial products or face "intrusive" action, the Financial Services Authority said on Wednesday.
OECD says ECB should support Spain
MADRID (Reuters) - The European Central Bank should support countries like Spain, which are carrying out necessary adjustments, the secretary-general of the Organisation for Economic Cooperation and Development (OECD) said on Wednesday in a radio interview.
Airbus fights exclusion from U.S. aerospace lobby
WASHINGTON (Reuters) - Airbus has clashed with the U.S. aerospace industry over whether it should be allowed to join its top domestic lobbying group, weeks after announcing plans to set up jet assembly in Alabama.
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Economic News
Manufacturing another headache for U.S. economy
Second-quarter productivity raised, wage inflation muted
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