Business Today: Stock futures climb after housing starts surge

		Click to View in Browser 10/17/2012 Stock futures climb after housing starts surge NEW YORK (Reuters) - Stock index futures added to gains after data showed groundbreaking on new U.S. homes surged in September to its fastest pace since July 2008. Citi rushes to replace Corbat in EMEA top job LONDON (Reuters) - Citigroup's new boss Mike Corbat is rushing to plug the gap he left at the helm of the U.S. bank's European business, a major hub for investment banking income but which still lags other regions by revenue. Housing starts surge to fastest pace since 2008 WASHINGTON (Reuters) - Groundbreaking on new U.S. homes surged in September to its fastest pace in more than four years, a sign the housing sector's budding recovery is gaining traction. BofA posts slim profit despite settlement, charges (Reuters) - Bank of America Corp eked out a third-quarter profit even after taking $1.6 billion of litigation charges, as the second-largest U.S. bank set aside less money to cover bad loans. PepsiCo profit beats expectations, affirms 2012 outlook (Reuters) - PepsiCo Inc reported higher-than-expected quarterly earnings on Wednesday, despite weaker revenue caused in part by the stronger U.S. dollar and the exit of certain businesses. American Airlines parent AMR posts wider loss (Reuters) - American Airlines parent AMR Corp reported a wider quarterly net loss on Wednesday, as it took charges tied to worker severance costs and its Chapter 11 bankruptcy reorganization. IMF urges aid for Italy, Spain but Rome baulking MILAN/MADRID (Reuters) - The International Monetary Fund called on the eve of a European Union summit for both Spain and Italy to seek euro zone assistance to draw a line under the bloc's debt crisis, but Rome has rebuffed the idea and Madrid seems likely to apply alone. Halliburton profit falls, but in line with market estimates (Reuters) - Halliburton Co's third-quarter profit fell in line with analysts' estimates due to the high cost of a key drilling material and a slowdown in North American drilling activity because of low natural gas prices. BNY Mellon profit rises on money management fees (Reuters) - BNY Mellon Corp reported an 11 percent rise in third-quarter earnings on Wednesday, beating analysts' expectations, as money management and performance fees increased. Foxconn says underage workers used in China plant TAIPEI (Reuters) - Foxconn Technology Group, the world's largest contract electronics maker, has acknowledged hiring teenagers as young as 14 in a Chinese factory, in breach of national law, in a case that raises further questions over its student intern program. Related Video Miners to face tougher times: Australia minister Apple's China manufacturing model under threat Economic News Romney adviser dismisses capping bank size Factory output up modestly, inflation looks in check 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