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Thursday, September 20, 2012

Business Today: Stock futures dip on weak China, Europe data

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09/20/2012
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Stock futures dip on weak China, Europe data
NEW YORK (Reuters) - U.S. stock index futures eased on Thursday as contraction in Chinese manufacturing and a downturn in Europe's service sector underscored the headwinds faced by the global economy, even as central banks aggressively step up stimulus measures.
Jobless claims fall last week, but trend weak
WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits held near two-month highs last week, suggesting some weakening in labor market conditions.
"Forceful" QE3 needed to avoid stagnation: Fed's Rosengren
QUINCY, Massachusetts (Reuters) - The Federal Reserve's "forceful" new policy accommodation is essential to get the U.S. recovery back on track and to avoid a damaging economic stagnation, a top U.S. Fed official said on Thursday.
Samsung to add iPhone 5 to U.S. lawsuits vs. Apple
SEOUL (Reuters) - Samsung Electronics Co said on Thursday it planned to add Apple's iPhone 5 to its existing patent lawsuits against the U.S. rival, a move that could lead to a preliminary sales injunction of the popular smartphone.
Wen says both China and EU against trade protectionism
BRUSSELS (Reuters) - Both China and the European Union reject trade protectionism, Chinese Premier Wen Jiabao said on Thursday after a summit meeting with EU leaders.
BASF buys U.S. crop chemicals maker Becker Underwood
FRANKFURT (Reuters) - The world's largest chemicals maker BASF SE agreed to take over U.S. crop protection company Becker Underwood from buyout firm Norwest Equity Partners for $1.02 billion to boost its farming pesticides division.
UBS risk limits "didn't matter": ex-trader's lawyer
LONDON (Reuters) - The culture at Swiss bank UBS when accused "rogue trader" Kweku Adoboli was working there was that risk limits could be exceeded as long as the bank was making money, Adoboli's defense lawyer told a London court on Thursday.
PIMCO, DoubleLine, TCW big winners from Fed's QE3 assault
NEW YORK (Reuters) - The Federal Reserve's move to stimulate the economy by buying mortgage securities is proving to be manna from heaven for three of the biggest players in the bond fund business: Pacific Investment Management Company, DoubleLine Capital and TCW.
Euro zone slump deepens and China still wilts
LONDON (Reuters) - Aggressive new policy from the European Central Bank has so far failed to boost ailing euro zone business, according to surveys that showed a widening chasm between sickly France and a more resilient Germany.
EADS hopes for quick political decision on BAE plan
BERLIN (Reuters) - European aerospace group EADS is looking for a quick decision from governments on its plan to merge with British defense company BAE Systems , as France and Germany hold meetings to discuss a common position on the proposed tie-up.
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