Business Today: Stock futures add to gains after GDP data

02/29/2012 Stock futures add to gains after GDP data NEW YORK (Reuters) - Stock index futures added to gains on Wednesday after data showed the U.S. economy grew slightly faster than initially thought in the fourth quarter. GDP revised up to 3 percent in fourth-quarter WASHINGTON (Reuters) - The economy grew a bit faster than initially thought in the fourth quarter on slightly firmer consumer and business spending, which could help to allay fears of a sharp slowdown in growth in early 2012. Banks gorge on 530 billion euros of ECB funds FRANKFURT (Reuters) - Banks grabbed 530 billion euros at the European Central Bank's second offering of cheap three-year funds on Wednesday, fuelling expectations that credit will flow to businesses and borrowing costs will ease for governments hit by the euro zone crisis. Bridgewater bucks trend to make clients $13.8 billion LONDON (Reuters) - Bridgewater Associates, the world's biggest hedge fund, handed clients $13.8 billion last year, catapulting founder Ray Dalio above long-time rivals such as George Soros and John Paulson as the industry's biggest money maker in 2011, research showed. Costco profit beats on sales of cheap gasoline (Reuters) - Warehouse club operator Costco Wholesale Corp posted a higher-than-expected quarterly profit as its lower-priced gasoline drew members to its stores. Exclusive: U.S. conducting criminal Libor probe NEW YORK (Reuters) - The Justice Department is conducting a criminal probe into whether the world's biggest banks manipulated a global benchmark rate that is at the heart of a wide range of loans and derivatives, from trillions of dollars of mortgages and bonds to interest rate swaps, a person familiar with the matter said. Staples 4th-quarter profit beats Wall Street estimates (Reuters) - Staples Inc , the largest U.S. office supply chain, reported a quarterly profit that narrowly beat analysts' estimates, helped by a slight increase in customer traffic at its North American business. Mortgage purchase applications jumped last week: MBA NEW YORK (Reuters) - Applications for home mortgage purchases jumped last week as interest rates dipped, though demand for refinancing waned, an industry group said on Wednesday. Irish vote, German court add euro zone uncertainty DUBLIN/KARLSRUHE, Germany (Reuters) - A planned referendum in Ireland and a German court ruling cast new uncertainty on Tuesday over efforts to overcome the euro zone's debt crisis, just when a flood of central bank money appeared to be calming financial markets. GM hesitates over Peugeot alliance plan: source FRANKFURT/PARIS (Reuters) - French car maker PSA Peugeot Citroen's alliance talks with General Motors may yet fail as the U.S. automaker hesitates over criticism from investors, a source with knowledge of the discussions said. Related Video Market Pulse: Bank feeding frenzy eases credit crunch fears Leading vitamin maker warns of unhealthy 2012 Economic News GDP revised up to 3 percent in fourth-quarter Consumer confidence at 1-year high in February 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