Business Today: Futures jump after China's surprise rate cut

Click to View in Browser 06/7/2012 Futures jump after China's surprise rate cut NEW YORK (Reuters) - U.S. stocks looked set to rally on Thursday after the Chinese central bank cut bank lending and deposit rates, fueling hopes of coordinated action to aid a flagging global economy. Jobless claims fall, labor market still on mend WASHINGTON (Reuters) - The number of Americans lining up for new jobless benefits fell last week for the first time since April, a reminder that the wounded labor market is still slowly healing. Exclusive: Chesapeake documents detail how CEO fuses personal, corporate interests OKLAHOMA CITY (Reuters) - Aubrey K. McClendon, the chief executive officer of Chesapeake Energy Corp, has intertwined his personal and financial interests with those of the publicly traded company he runs to a far greater degree than shareholders may realize, according to interviews, public records and hundreds of internal Chesapeake documents reviewed by Reuters. China makes surprise interest rate cut BEIJING (Reuters) - China delivered twin surprises on interest rates on Thursday, cutting borrowing costs to combat faltering growth while giving banks additional flexibility to set competitive lending and deposit rates in step along the path of liberalization. LinkedIn, eHarmony suffer data breaches BOSTON/NEW YORK (Reuters) - Social networking site LinkedIn and online dating service eHarmony warned that some user passwords had been breached after security experts discovered scrambled files with passwords for millions of online accounts. JPMorgan media banker moves to private equity role LONDON (Reuters) - JPMorgan's top media sector banker Harry Hampson, who worked on the sale last year of Elisabeth Murdoch's Shine Group to News Corp , is to become head of the bank's Financial Sponsors Group which advises private equity firms, for Europe, the Middle East and Africa, according to a memo seen by Reuters. Bear Stearns $275 million settlement reached (Reuters) - A $275 million settlement has been reached in a nationwide shareholder lawsuit stemming from the near-collapse of the former Wall Street investment bank Bear Stearns Cos, court papers show. Spain passes market test, Merkel douses summit hopes MADRID/LONDON (Reuters) - Spain weathered funding pressures in European credit markets on Thursday and managed to raise money at an affordable if rising cost, while behind-the-scenes planning for a likely rescue of its debt-stricken banks intensified. Deal or no deal, Morgan Stanley commodity trade shrinks NEW YORK (Reuters) - The hard core of Morgan Stanley's commodities trading empire, once the mightiest on Wall Street famed for its powerful union of paper and physical deals, is shrinking. Gazprom to advance Ukraine $2 billion for gas transit MOSCOW (Reuters) - Russia's gas exporting monopoly Gazprom said on Thursday it had agreed to pay $2 billion in advance to Ukraine in order to finance purchases of gas and secure its transit to Europe. Related Video U.S. Morning Call: Stock futures up; Twitter's ad dollars Market Pulse: China's rate cut boosts euro, stocks Economic News Jobless claims fall, labor market still on mend Fed's Rosengren warns on growing economic risks 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