Business Today: Stocks futures rally on EU agreement ahead of U.S. data

		Click to View in Browser 06/29/2012 Stocks futures rally on EU agreement ahead of U.S. data NEW YORK (Reuters) - Stock futures jumped on Friday after euro zone leaders agreed to allow rescue funds to be used to stabilize the region's banks. May consumer spending weakest in five months WASHINGTON (Reuters) - Consumer spending was flat in May for the first time in five months as Americans eased off on vehicle purchases amid tepid wage growth, but subsiding inflation pressures should keep demand supported. Fed official floats stress tests of money funds AMSTERDAM (Reuters) - A top U.S. Federal Reserve official floated the idea on Friday of expanding bank "stress tests" to include the likely support those institutions would need to provide to sponsored money market mutual funds. GSK again extends its $2.6 billion Human Genome offer LONDON (Reuters) - GlaxoSmithKline has again extended its $2.6 billion offer to buy long-time partner Human Genome Sciences , until July 20, in a hostile stand-off with the U.S. biotech company. Euro zone inflation steady, room for ECB move BRUSSELS (Reuters) - Euro zone inflation held steady at a 16-month low in June, kept in check by a sharp fall in oil prices and supporting an already strong case for a near-term interest rate cut by the European Central Bank. AB InBev buys out Corona maker Modelo for $20 billion BRUSSELS (Reuters) - Anheuser-Busch InBev, the world's biggest brewer, will swallow the half of Grupo Modelo it does not already own for $20.1 billion in the latest in a string of deals by big brewers looking for growth in emerging markets. Bank rate rigging scandal widens; Diamond fights on LONDON (Reuters) - A scandal over the rigging of key interest rates could create a legal morass that may hamper the global banking industry for years, analysts said, as the head of Barclays fought to hold onto his job. RIM prospects dire after launch delay: analysts (Reuters) - Research In Motion Ltd could run out of cash and ultimately fail, even with the launch of its now-delayed BlackBerry 10 device early next year, Wall Street analysts said. FBI says arrests Bernard Madoff's brother NEW YORK (Reuters) - The FBI said on Friday it had arrested Peter Madoff, the younger brother of swindler Bernard Madoff, who is serving a 150-year prison sentence for his multibillion-dollar Ponzi scheme. EU deal buoys markets despite sketchy details BRUSSELS (Reuters) - Euro zone leaders agreed on Friday to bend their aid rules to shore up banks and bring down the borrowing costs of stricken members like Italy and Spain, in a sign the bloc is adopting a more flexible approach to solving its two-year old debt crisis. Related Video U.S. Morning Call: Euro rises on EU rescue deal Stiglitz: It's the politics, stupid! Economic News May consumer spending weakest in five months Fed official floats stress tests of money funds 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