Business Today: Stock futures pare losses after GDP data

		Click to View in Browser 10/26/2012 Stock futures pare losses after GDP data NEW YORK (Reuters) - Stock index futures pared losses on Friday following a read on third-quarter gross domestic product that was higher than expected. Merck tops view, newer drugs cushion Singulair blow (Reuters) - Merck & Co Inc reported better-than-expected third-quarter profit, as a favorable tax rate and lower merger costs helped offset plunging sales of asthma drug Singulair, its former flagship product that began facing cheaper generics in August. Consumers boost growth despite business caution WASHINGTON (Reuters) - Economic growth picked up in the third quarter as a late burst in consumer spending offset the first cutbacks in investment in more than a year by cautious businesses. Fed's Lacker says inflation fears underpin policy dissent WASHINGTON (Reuters) - The Federal Reserve's latest stimulus will not boost economic growth without creating unwanted inflation, said Jeffrey Lacker, president of the Richmond Fed and lone dissenter on the central bank's policy committee. SocGen receives Libor probe demand: source PARIS (Reuters) - Societe Generale, France's second-biggest listed bank, has received a new request for information from U.S. authorities investigating the Libor rate-fixing scandal, a banking source told Reuters on Friday. Apple's weak margin outlook surprises analysts (Reuters) - At least three brokerages cut their price targets on Apple Inc by up to $50 a share after the iPhone maker surprised analysts by forecasting lower gross margins for the current quarter. No deal for Opel, unions on restructuring by deadline HAMBURG (Reuters) - Loss-making General Motors unit Opel has not reached an agreement with its German workforce over a restructuring plan, including the planned closure of its Bochum plant, by the Friday deadline imposed by trade union IG Metall. Greek debt to badly miss target: euro zone official BRUSSELS (Reuters) - Greek debt will be above the target of 120 percent of GDP in 2020, a preliminary report by the IMF showed on Thursday, and Athens will need more reforms before emergency credit from international lenders can start flowing again. Insight: How the Petronas deal fell victim to Canada's China fears OTTAWA/CALGARY (Reuters) - Malaysian state-owned oil company Petronas was so confident last Friday that its purchase of Progress Energy Resources Corp would be approved by Canada that company officials had drafted a press release to announce the news. My actions were not fraudulent, says UBS "rogue trader" LONDON (Reuters) - Accused UBS "rogue trader" Kweku Adoboli said on Friday he did not believe his behavior had been fraudulent and it was unfair to suggest that his previous jobs in the UBS back office had given him the knowledge and skills to commit fraud. Related Video U.S. Morning Call: Apple & Amazon disappoint Lyon expo shows serious side of video games Economic News Consumers boost growth despite business caution Fed's Lacker says inflation fears underpin policy dissent 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