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Friday, September 28, 2012

Business Today: Futures point to losses at end of strong quarter

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09/28/2012
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 point to losses at end of strong quarter
NEW YORK (Reuters) - U.S. stock index futures pointed to a lower open on Friday as investors locked in gains at the end of a strong quarter for equities and amid uncertainty ahead of the result of stress tests on Spanish banks.
High gasoline prices lift consumer spending in August
WASHINGTON (Reuters) - U.S. consumer spending rose in August by the most in six months as households stretched to pay for higher gasoline prices, according to a government report on Friday that pointed to lackluster economic growth in the third quarter.
France taxes rich and business to slash deficit
PARIS (Reuters) - President Francois Hollande's Socialist government unveiled sharp tax hikes on business and the rich on Friday in a 2013 budget aimed at showing France has the fiscal rigor to remain at the core of the euro zone.
Energy fuels euro inflation but ECB rate cut still on
BRUSSELS (Reuters) - Euro zone inflation accelerated in September as energy costs soared but core prices stayed low, likely leaving the European Central Bank on track to cut interest rates soon.
BofA settles Merrill Lynch lawsuit, to pay $2.43 billion
(Reuters) - Bank of America said it settled a class action lawsuit with investors who purchased or held Bank of America securities at the time the company announced plans to acquire Merrill Lynch.
Spain's bank audit to offer launchpad for aid request
MADRID (Reuters) - An independent audit on Spanish banks, which along with an austerity budget appears to prepare the way for a government bailout, is likely to show on Friday that troubled lenders need around 60 billion euros ($77 billion) to return to health.
Smiles hide the strains between Europe's carmakers
PARIS (Reuters) - Fiat and Volkswagen patched up some of their differences on Friday, with the Italian firm's boss staying on as head of the European carmakers' association, though tensions over pricing and capacity continue to simmer in a struggling car market.
G4S backs CEO over Olympic fiasco
LONDON (Reuters) - G4S stood by its chief executive Nick Buckles but said two other senior executives would go following its probe into an embarrassing Olympic contract blunder.
T-Mobile USA inks $2.4 billion tower deal with Crown Castle
NEW YORK (Reuters) - T-Mobile USA, the No. 4 U.S. mobile provider, has agreed to sell the rights to 7,200 of its wireless broadcast towers to Crown Castle International Corp for $2.4 billion.
Powertrain deals expand Renault-Nissan-Daimler pact
PARIS (Reuters) - Renault and affiliate Nissan unveiled plans to share gearboxes with Mercedes and develop compact engines with its parent Daimler , expanding their partnership with the German luxury automaker.
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