Business Today: Futures pare gains after data

		Click to View in Browser 09/27/2012 Futures pare gains after data NEW YORK (Reuters) - U.S. stock index futures pared some earlier gains after durable goods orders showed a bigger-than-expected drop for August, the final second quarter gross domestic product reading was below expectations and initial jobless claims fell in the latest week. Second-quarter GDP cut to 1.3 percent on drought WASHINGTON (Reuters) - Economic growth was much weaker than previously estimated in the second quarter as a drought cut into inventories, setting the platform for an even more sluggish performance in the current quarter against the backdrop of slowing factory activity. Jobless claims fall to two-month low last week WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits fell last week to the lowest level in two months, a hopeful sign for a labor market that has struggled to gain traction in recent months. Durable goods drop worst since recession WASHINGTON (Reuters) - New orders for long-lasting U.S. manufactured goods in August fell by the most in 3-1/2 years, pointing to a sharp slowdown in factory activity even as a gauge of planned business spending rebounded. U.S. job creation in year to March revised 0.3 percent higher WASHINGTON (Reuters) - The U.S. economy likely created 386,000 more jobs in the 12 months through March than previously estimated, the Labor Department said on Thursday in a preliminary estimate of its annual "benchmark" revision to closely watched payrolls data. Euro zone economic outlook darkens with fall in confidence BRUSSELS (Reuters) - The outlook for Europe's economy darkened on Thursday with euro zone business confidence falling to a three-year low and a range of economic indicators across the continent pointing towards recession. Spain to pass reforms, budget cuts with eye on aid MADRID (Reuters) - Spain was set to announce economic reforms and a tight 2013 budget on Thursday, aiming to avoid the political humiliation of having Brussels impose conditions on any request for an international bailout. EU wants $12 billion annual trade sanctions on U.S. in Boeing row GENEVA (Reuters) - The European Union asked the World Trade Organization on Thursday for the right to impose annual trade sanctions worth up to $12 billion on the United States in retaliation for illegal subsidies to planemaker Boeing . UBS "rogue trader" did not act alone, lawyer says LONDON (Reuters) - Kweku Adoboli, a "rogue trader" accused of bringing UBS to the brink of collapse, learnt his behavior from colleagues at the Swiss bank who later "stabbed him in the back", his defense lawyer told a London court on Thursday. Tempur-Pedic to buy rival Sealy as specialty bed dominance slips (Reuters) - Tempur-Pedic International Inc will acquire rival mattress maker Sealy Corp for about $242 million and assume about $750 million in debt, as rivals snip away at its once-dominant position in specialty beds. Related Video Google vs Apple: The Amazing Maps Race China protests take toll on Japanese carmakers Economic News Second-quarter GDP cut to 1.3 percent on drought Jobless claims fall to two-month low last week 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