Business Today: Stock futures inch up on optimism over Yellen nomination

		Click to View in Browser 10/9/2013 Stock futures inch up on optimism over Yellen nomination NEW YORK (Reuters) - U.S. stock index futures rose modestly on Wednesday, indicating the S&P 500 may rebound from its worst drop since August, on expectations Janet Yellen will be tapped as the next chairman of the U.S. Federal Reserve. Obama to choose Yellen for top Fed job, markets relieved WASHINGTON (Reuters) - U.S. President Barack Obama will nominate Fed number two Janet Yellen on Wednesday to run the world's most influential central bank, providing some relief to markets that would expect her to tread carefully in winding down economic stimulus. Wal-Mart and Bharti Enterprises call off India JV MUMBAI (Reuters) - Wal-Mart Stores Inc and Bharti Enterprises are breaking up their Indian joint venture, leaving the world's biggest retailer to go it alone in a country where it has struggled to build a bigger presence. EU must speed up banking union to gain trust, IMF says WASHINGTON (Reuters) - The International Monetary Fund urged the European Union to quickly set up an agency that would close or salvage troubled banks across the continent as part of an effort to shed a mountain of bad debt impeding economic recovery. Japan worries about Boeing retreat in wake of JAL defection TOKYO (Reuters) - For five decades Boeing Co. has awarded bigger and bigger shares of its supply contracts to Japanese firms, but that could change after Japan Airlines' shock defection to Airbus and as the planemaker seeks to win orders in China. Alcatel plan won't be accepted if no union deal: French PM PARIS (Reuters) - Telecoms equipment maker Alcatel-Lucent must negotiate a good deal with unions that saves as many jobs as possible or face the risk that its restructuring will not be rubber-stamped, French Prime Minister Jean-Marc Ayrault said on Wednesday. Saks CEO Sadove to become J.C. Penney director (Reuters) - J.C. Penney Co Inc said on Wednesday that departing Saks Inc Chief Executive Stephen Sadove will become a director once he leaves his current job, in the latest change that brings more retail experience to the struggling department store chain's board. U.S. mortgage applications edge up on more refinancing: MBA (Reuters) - Applications for U.S. home loans rose in the latest week as demand for refinancing outpaced purchases, data from an industry group showed on Wednesday. Jos. A. Bank offers to buy Men's Wearhouse for $2.3 billion (Reuters) - Jos. A. Bank Clothiers Inc offered to buy bigger rival Men's Wearhouse Inc for about $2.3 billion to create a men's apparel heavyweight with more than 1,700 stores. Wall Street's hot trade: compliance officers WASHINGTON (Reuters) - The kings of Wall Street used to be the traders and investment bankers who said yes to big deals and big trades, but today's power brokers increasingly are the compliance officers who quite often say no to risky proposals. Related Video Social robots - a dog's new best friend Breakingviews: Yellen gets the nod, markets get some calm Economic News Obama to choose Yellen for top Fed job, markets relieved Obama says Republicans must end 'threats' on fiscal impasse A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend