The Other Side of Life 24/7: Business Today: German court backing of bailout fund lifts futures

Wednesday, September 12, 2012

Business Today: German court backing of bailout fund lifts futures

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09/12/2012

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

German court backing of bailout fund lifts futures

NEW YORK (Reuters) - Stock index futures climbed on Wednesday after a top German court said it supported the euro zone's new 700-billion-euro bailout fund to help the region battle its debt crisis.

German court backs euro rescue fund with conditions

KARLSRUHE, Germany (Reuters) - Germany's Constitutional Court gave a green light on Wednesday for the country to ratify the euro zone's new bailout fund and budget pact, but insisted the German parliament have veto powers over any future increases in the size of the fund.

Oil costs cause first import price gain in five months

WASHINGTON (Reuters) - Import prices rose in August for the first time in five months as the cost of imported oil jumped, a factor that could weigh on American consumers and temporarily boost inflation.

Chesapeake Energy to raise $6.9 billion from asset sales

(Reuters) - Chesapeake Energy Corp said it will sell most of its Permian Basin properties to Royal Dutch Shell Plc and Chevron Corp and a majority of its pipeline assets to raise about $6.9 billion in cash.

Europe unveils banking union plan to tackle crisis

STRASBOURG, France (Reuters) - Europe moved a step closer to a banking union on Wednesday with a plan for the European Central Bank to supervise all euro zone banks, a cornerstone of closer fiscal integration designed to end years of financial turmoil in the region.

Apple's iPhone needs to dazzle as market gets crowded

SAN FRANCISCO (Reuters) - The new iPhone 5 has to be more than just another smartphone as it carries the weight of Apple Inc's future on its slim frame.

GE weighing sale of $2.2 billion Bank of Ayudhya stake: Bloomberg

(Reuters) - General Electric Co is considering selling its $2.2 billion stake in Thai lender Bank of Ayudhya Pcl , Bloomberg reported, citing two people with knowledge of the matter.

BoE's Broadbent says would support more easing if needed

DURHAM, England (Reuters) - Bank of England policymaker Ben Broadbent said on Wednesday he would vote for more purchases of government bonds to stimulate the economy if the circumstances warranted it.

Peregrine CEO Wasendorf to plead guilty to fraud

CEDAR RAPIDS, Iowa (Reuters) - Peregrine Financial chief executive Russell Wasendorf Sr., accused of stealing more than $200 million from his futures brokerage's customers and lying to regulators to cover his tracks, has agreed to plead guilty to mail fraud, making false statements to regulators and embezzling customer funds, prosecutors said on Tuesday.

Spain's Rajoy studies rescue, says may not be necessary

MADRID/HELSINKI (Reuters) - Spain continues to study the price it will have to pay for seeking help from the European Central Bank's bond-buying program but improved market conditions may make aid unnecessary, Prime Minister Mariano Rajoy said on Wednesday.