Business Today: Stock futures rise as focus shifts to data

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Good Morning Aron, WED 24 Nov 2010    Stock futures rise as focus shifts to data October consumer spending up, inflation at record low Deere profit beats Street forecast but outlook misses Oracle ruling tarnishes SAP's U.S. reputation Tiffany results easily beat, sees gem of a holiday Madoff trustee sues UBS, others for Ponzi scheme role Teetering Irish government to set out 4-year plan Home purchase mortgages buoy applications: MBA Banks warned on loan-loss provisions PBOC gets ready to slow China money, loan growth Asian mkts steady despite tensions Japan eyes N.Korea attack impact Korea adds to Wall St. worries Stock futures rise as focus shifts to data November 24, 2010 07:51 AM ET NEW YORK (Reuters) - Stock index futures edged higher on Wednesday as Wall Street looked to shift focus away from tensions on the Korean peninsula and European debt worries to a batch of U.S. economic data. Full Article October consumer spending up, inflation at record low November 24, 2010 08:35 AM ET WASHINGTON (Reuters) - U.S. consumer spending rose for a fourth straight month in October and a key inflation gauge was at a record low, a government report showed on Wednesday, strengthening the Federal Reserve's defense of its decision to loosen monetary policy further. Full Article Deere profit beats Street forecast but outlook misses November 24, 2010 08:28 AM ET CHICAGO (Reuters) - Deere & Co reported a stronger-than-expected quarterly profit on Wednesday as sales of its tractors and harvesters in North America and other markets offset continued poor demand in Europe. Full Article Oracle ruling tarnishes SAP's U.S. reputation November 24, 2010 07:43 AM ET FRANKFURT (Reuters) - A record $1.3 billion fine slapped on SAP for downloading rival Oracle's software has tarnished the German software maker's reputation and is set to undermine its sales and profitability in the United States. Full Article Tiffany results easily beat, sees gem of a holiday November 24, 2010 07:24 AM ET NEW YORK (Reuters) - Tiffany & Co's third-quarter results handily beat Wall Street's sales and profit forecasts, benefiting from strong overseas growth and surging U.S. luxury spending, and the upscale jeweler raised its full- year outlook, saying it expects strong holiday sales. Full Article Madoff trustee sues UBS, others for Ponzi scheme role November 24, 2010 07:26 AM ET BANGALORE (Reuters) - The trustee liquidating Bernard Madoff's investment management firm sued UBS AG and various other entities for allegedly profiting from the massive Ponzi scheme, according to a court filing. Full Article Teetering Irish government to set out 4-year plan November 24, 2010 08:30 AM ET DUBLIN (Reuters) - Ireland's teetering government will announce plans on Wednesday to cut welfare spending sharply and raise taxes to help pay for the country's catastrophic banking crisis and meet the terms of an international bailout. Full Article Home purchase mortgages buoy applications: MBA November 24, 2010 07:16 AM ET NEW YORK (Reuters) - U.S. mortgage applications for home purchases rose to their highest level in more than six months last week, buoying activity otherwise weighed down by waning refinancing, an industry group reported on Wednesday. Full Article Banks warned on loan-loss provisions November 23, 2010 04:35 PM ET WASHINGTON (Reuters) - Banks showed further signs of recovery in the third quarter, helped by the lowest level of loan-loss provisions since before the 2007-2009 financial crisis, but drew a warning from a top regulator not to go too far. Full Article PBOC gets ready to slow China money, loan growth November 24, 2010 06:20 AM ET BEIJING (Reuters) - The People's Bank of China will use all the policy tools at its disposal to steer money and credit growth back to normal, Hu Xiaolian, a deputy central bank governor, said in remarks published on Wednesday. Full Article

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