Business Today: Stock futures rise on China stimulus hopes; data eyed

Click to View in Browser 05/29/2012 Stock futures rise on China stimulus hopes; data eyed NEW YORK (Reuters) - Stock index futures rose on Tuesday, indicating a rally in equities may continue after their first weekly gain since April, on hopes China may unleash more spending measures and Greek election polls pointed to support for conservative parties. Analysis: JPMorgan dips into cookie jar to offset "London Whale" losses NEW YORK (Reuters) - JPMorgan Chase & Co has sold an estimated $25 billion of profitable securities in an effort to prop up earnings after suffering trading losses tied to the bank's now-infamous "London Whale," compounding the cost of those trades. Opera would cost Facebook over $1 billion: analysts OSLO (Reuters) - Opera Software would cost Facebook over $1 billion as competition from Google and others could push up the price tag, analysts said on Tuesday, as takeover talk pushed the shares up as much as 26 percent on Tuesday. Marubeni buys Gavilon for $3.6 billion as it eyes China TOKYO (Reuters) - Japanese trading house Marubeni Corp is to buy U.S. grains merchant Gavilon for $3.6 billion, the company said on Tuesday, as it targets China's growing demand for corn from North America, the world's top grain export hub. OPEC output hits new high in May: Reuters survey LONDON (Reuters) - OPEC output in May has hit its highest since 2008 as Saudi Arabia maintained high production rates despite a drop in prices and Iranian shipments did not fall substantially further ahead of an EU embargo, a Reuters survey found on Tuesday. Samsung Galaxy S3 gets head start on rival iPhone SEOUL/LONDON (Reuters) - Samsung Electronics launched its top-of-the-range Galaxy S3 smartphone in Europe on Tuesday, aiming to outsell the previous model that helped the South Korean company topple Apple as the world's largest smartphone maker. NY pension fund urges no vote on Chesapeake directors (Reuters) - The head of New York's state pension fund urged shareholders of Chesapeake Energy Corp to withhold votes to re-elect two members of the natural gas producer's board of directors. Woodford agrees settlement with ex-employer Olympus LONDON (Reuters) - Michael Woodford, the ousted Olympus chief executive , has reached an out-of-court settlement with his former Japanese employer for unfair dismissal on grounds of whistleblowing and uncovering one Japan's biggest corporate frauds. Spain to go to market to fund Bankia, regions: source MADRID (Reuters) - Spain will recapitalize nationalized lender Bankia by issuing new debt, not by injecting bonds into the lender, and will likely adopt on Friday a new mechanism to back its regions' debt, a government source told Reuters on Tuesday. Euro zone bank safety net leaves holes unplugged FRANKFURT/BRUSSELS (Reuters) - As the euro zone ponders a possible Greek exit, policymakers have not yet built a shield robust enough to prevent a bank run in one country sending others in the bloc deeper into crisis. Related Video U.S. Morning Call: Facebook eyes Opera; DOJ probes BP Market Pulse: "Money don't lie" - a worry for the euro Economic News May consumer sentiment highest in more than four years Fed's Plosser warns on discretionary policy decisions 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