The Other Side of Life 24/7: Business Today: S&P 500 futures lower; market set to pause after record close

Tuesday, December 10, 2013

Business Today: S&P 500 futures lower; market set to pause after record close

Click to View in Browser

12/10/2013

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

S&P 500 futures lower; market set to pause after record close

NEW YORK (Reuters) - The S&P 500 index futures edged lower on Tuesday after the market closed at yet another record high and economic data showed growth in China's industrial production slowed last month.

U.S. set to adopt Volcker rule to curb bank trading gambles

WASHINGTON (Reuters) - Wall Street banks will need to prove to regulators that certain trades are done on behalf of clients and are not veiled speculative bets as part of the final Volcker rule that U.S. officials plan to adopt on Tuesday, a senior regulator said.

UK bribery trial collapses in blow to anti-fraud agency

LONDON (Reuters) - One of Britain's biggest corruption trials in years came to an abrupt halt on Tuesday when the Serious Fraud Office (SFO) called off the prosecution of businessman Victor Dahdaleh in a further setback for its already tarnished reputation.

Outerwall to cut 8.5 percent of workforce, Redbox chief leaves

(Reuters) - Outerwall Inc said the president of its Redbox video rental kiosks division had left the business after just over a year and that it would cut 8.5 percent of its workforce.

Deutsche Bank ex-CEO urges top court to bar seized evidence

FRANKFURT (Reuters) - Deutsche Bank's former CEO Josef Ackermann has asked Germany's highest court to keep a trove of documents out of a long-running suit brought by heirs of the collapsed Kirch media empire.

Volcker rule will be delayed until 2015: CFTC's Chilton

WASHINGTON (Reuters) - The United States will not implement the so-called Volcker rule before 2015, a top regulator said on Tuesday, a widely expected move after regulators struggled for years to agree on the ban on proprietary trading.

Wal-Mart says David Cheesewright to head international business

(Reuters) - Wal-Mart Stores Inc said David Cheesewright would head its Walmart International business, succeeding Doug McMillon, who was appointed the company's chief executive last month.

Italy backs 8 percent minimum bail-in for ailing banks

BRUSSELS (Reuters) - Italy's Economy Minister Fabrizio Saccomanni said on Tuesday that public intervention on troubled banks should come after inflicting losses on bondholders through a minimum bail-in of 8 percent of total bank liabilities.

Italy government watching Monte Paschi carefully: source

ROME (Reuters) - The Italian economy ministry is monitoring the situation at troubled lender Banca Monte dei Paschi di Siena , a source close to the Treasury said on Tuesday, ahead of a board meeting to discuss a planned capital increase.

Lululemon names new CEO; founder Chip Wilson to step down

(Reuters) - Yoga-wear retailer Lululemon Athletica Inc , reeling from an embarrassing recall of see-through pants, named Laurent Potdevin as chief executive and said founder Chip Wilson would step down as non-executive chairman.