Business Today: Stock futures pare gains after ADP report

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Good Morning Aron, WED 06 Oct 2010    Stock futures pare gains after ADP report Private sector sheds 39,000 jobs in September IMF revises U.S. growth down, jobs picture bleak Costco quarterly profit rises IMF warns against currency war J&J sticks to $2.4 billion bid for Crucell Fitch downgrades Ireland on bank clean up, economy Planned layoffs edge up in September: Challenger Google denies Oracle's Android copyright complaint Special report: In Britain's cities, the pain begins The price of love in 2010 Asian stocks rally on stimulus hopes Rio set to abandon $116 bln iron JV Stock futures pare gains after ADP report October 06, 2010 08:31 AM ET NEW YORK (Reuters) - Stock index futures pared gains sharply on Wednesday after the ADP jobs report showed a surprise loss in private sector jobs in September. Full Article Private sector sheds 39,000 jobs in September October 06, 2010 08:30 AM ET NEW YORK (Reuters) - Private employers unexpectedly cut 39,000 jobs in September after an upwardly revised gain of 10,000 in August, a report by a payrolls processor showed on Wednesday. Full Article IMF revises U.S. growth down, jobs picture bleak October 06, 2010 08:27 AM ET WASHINGTON (Reuters) - U.S. economic growth will be much weaker this year and in 2011 than previously thought and that dims hopes for bringing down a very high unemployment rate anytime soon, the International Monetary Fund said on Wednesday. Full Article Costco quarterly profit rises October 06, 2010 07:33 AM ET BANGALORE (Reuters) - Costco Wholesale Corp posted higher quarterly profit on Wednesday as consumers began spending more on discretionary items such as apparel. Full Article IMF warns against currency war October 06, 2010 06:48 AM ET LONDON (Reuters) - The head of the IMF warned that a growing drive by nations to cap the strength of their currencies risked derailing economic recovery while the dollar dropped further on Wednesday. Full Article J&J sticks to $2.4 billion bid for Crucell October 06, 2010 07:14 AM ET AMSTERDAM (Reuters) - Crucell said it would recommend U.S. personal care group Johnson & Johnson's unchanged cash offer of 24.75 euros per share for the Dutch biotech as one shareholder said he would not sell at that price. Full Article Fitch downgrades Ireland on bank clean up, economy October 06, 2010 08:01 AM ET DUBLIN (Reuters) - Fitch Ratings downgraded Ireland's credit rating to A+ from AA- and put it on a negative outlook, pointing to the bigger-than-expected cost of cleaning up the country's banks and uncertainty over economic recovery. Full Article Planned layoffs edge up in September: Challenger October 06, 2010 07:31 AM ET NEW YORK (Reuters) - The number of planned layoffs at U.S. firms rose slightly in September, though it was the second lowest level of the year, a report on Wednesday said. Full Article Google denies Oracle's Android copyright complaint October 06, 2010 06:44 AM ET BANGALORE (Reuters) - Google has denied Oracle's complaint of copyright infringement in development of Android smartphone software and asked a U.S. court to dismiss Oracle's lawsuit, court documents showed. Full Article Special report: In Britain's cities, the pain begins October 06, 2010 08:29 AM ET LONDON (Reuters) - Inside Birmingham's council chamber, a red-carpeted semi-circular room with Italian walnut-clad walls, the leader of Europe's largest local government authority is preparing his colleagues for pain. Full Article

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