Business Today: Index futures drop after Cisco outlook, G20 eyed

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Good Morning Aron, THU 11 Nov 2010    Index futures drop after Cisco outlook, G20 eyed Cisco shares sink on revenue outlook, near-term worries "Jersey Shore" lifts Viacom profit China's ICBC to raise $6.8 billion through rights issue Irish borrowing costs hit high, EU says has tools to act Stiglitz urges capital controls to curb "hot money" G20 struggles as Irish crisis hits market Wal-Mart to offer free shipping on website: report Jump in China inflation paves way for more tightening Barnes & Noble tests toy boutiques to boost sales Whisky deal could double China sales G20 leaders talk trade, dlr in Seoul Softer bank capital rules from G20? Index futures drop after Cisco outlook, G20 eyed November 11, 2010 08:25 AM ET NEW YORK (Reuters) - U.S. stock index futures fell on Thursday after a dismal outlook from Cisco Systems, while world leaders struggled to find common ground at the G20 summit amid concerns growing protectionism will hurt global trade. Full Article Cisco shares sink on revenue outlook, near-term worries November 11, 2010 07:46 AM ET BANGALORE (Reuters) - Shares of Cisco Systems Inc fell about 17 percent in pre-market trading on Thursday, a day after the technology bellwether forecast dismal full-year revenue, hurt by weak spending by its public sector customers. Full Article "Jersey Shore" lifts Viacom profit November 11, 2010 07:32 AM ET NEW YORK (Reuters) - Viacom Inc's quarterly profit rose thanks to a surge at its cable networks like MTV and its popular hit show "Jersey Shore." Full Article China's ICBC to raise $6.8 billion through rights issue November 11, 2010 01:16 AM ET SHANGHAI (Reuters) - Industrial and Commercial Bank of China (ICBC) plans to raise 45 billion yuan ($6.8 billion) through a rights share offering this month, capping an $80 billion fundraising boom by Chinese lenders to replenish capital depleted by last year's lending spree. Full Article Irish borrowing costs hit high, EU says has tools to act November 11, 2010 06:24 AM ET DUBLIN (Reuters) - Irish borrowing costs shot up to new lifetime highs on Thursday and European Commission President Jose Manuel Barroso signaled the bloc was ready to act should the humbled former "Celtic Tiger" require a rescue. Full Article Stiglitz urges capital controls to curb "hot money" November 11, 2010 01:30 AM ET HONG KONG (Reuters) - Emerging economies will need capital controls to manage flows of "hot money" and ensure economic stability in the wake of the United States' ultra-easy monetary policy, Nobel Prize-winning economist Joseph Stiglitz said on Thursday. Full Article G20 struggles as Irish crisis hits market November 11, 2010 08:33 AM ET SEOUL (Reuters) - The Group of 20 meeting on Thursday struggled to agree on meaningful action to rebuild the global economy as a crisis erupted in Ireland, pushing its bond spreads out to a record over Germany, and infecting Spain and Portugal. Full Article Wal-Mart to offer free shipping on website: report November 11, 2010 08:02 AM ET (Reuters) - Wal-Mart Stores Inc plans to offer free shipping on nearly 60,000 gift items, including toys and electronics, when purchased through its website from Thursday, the New York Times reported. Full Article Jump in China inflation paves way for more tightening November 11, 2010 04:39 AM ET BEIJING (Reuters) - Chinese inflation sped to a 25-month high in October and bank lending blew past expectations, highlighting the challenge faced by Beijing as it battles to keep a lid on price pressures. Full Article Barnes & Noble tests toy boutiques to boost sales November 11, 2010 07:07 AM ET NEW YORK (Reuters) - Barnes & Noble Inc has begun testing large "store-in-store" toy boutiques at a handful of its locations, looking to make use of shelf space freed up by declining book sales. Full Article

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