The Other Side of Life 24/7: Business Today: Stock futures lower following jobless claims data

Thursday, February 21, 2013

Business Today: Stock futures lower following jobless claims data

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02/21/2013

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Stock futures lower following jobless claims data

NEW YORK (Reuters) - U.S. stock index futures continued to retreat on Thursday, following a bigger-than-expected rise in weekly jobless claims.

Jobless claims rise more than expected

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose more than expected last week, but still remained at levels consistent with a steady improvement in labor market conditions.

Consumer prices unchanged as gasoline falls

WASHINGTON (Reuters) - Consumer prices were flat for a second straight month in January, providing scope for the Federal Reserve to maintain its very accommodative monetary policy stance to stimulate the sluggish economy.

Wal-Mart's U.S. customers hit by payroll taxes, gas prices

(Reuters) - Wal-Mart Stores Inc said on Thursday that U.S. sales weakness persisted into early February, as Americans absorbed the impact of higher payroll taxes and gasoline prices, along with slow tax refunds that put some spending on hold.

Chesapeake fourth quarter profit tops Street, shares rise

(Reuters) - Chesapeake Energy Corp reported fourth-quarter profit that topped Wall Street estimates on Thursday, helped by lower-than-expected expenses and more profitable oil production.

Analysis: Bankruptcy filing may be bad option for Detroit

WILMINGTON, Delaware (Reuters) - If the city of Detroit were a company, it would be a prime candidate to file for bankruptcy, using court protection to cut debt, streamline operations and trim retiree benefits.

Bombardier profit falls on charge; delays Learjet 85 service entry

(Reuters) - Bombardier Inc reported a 93 percent drop in quarterly profit after taking a restructuring charge, and said entry-into-service of its Learjet 85 business aircraft has been delayed to the summer of 2014 due to several technology issues.

Linn Energy to buy Berry Petroleum in $2.5 billion stock deal

(Reuters) - Oil and gas producer Linn Energy LLC will buy Berry Petroleum Co for $2.5 billion in stock, boosting its reserves of lucrative oil and raising total output by about a third.

BofA hires Slowey as EMEA prime broking head: memo

LONDON (Reuters) - Bank of America Merrill Lynch has hired Martina Slowey as its EMEA head of prime brokerage, according to an internal memo seen by Reuters.

Wells Fargo ramps up private equity despite Volcker Rule

(Reuters) - When former Wells Fargo & Co Chief Executive Dick Kovacevich joined Norwest Bank in 1986, he had reservations about its private equity investments as he did not think it was the kind of business a bank needed to be in. He got over it.