Business Today: Stock futures point to higher open, Oracle up early

		Click to View in Browser 12/19/2012 Stock futures point to higher open, Oracle up early NEW YORK (Reuters) - Stock futures pointed to a higher open on Wednesday as the latest offers in ongoing U.S. budget negotiations underlined hopes for a deal, while technology shares were lifted by strong results from Oracle. GM to buy stake from Treasury, government plans full exit (Reuters) - General Motors Co said on Wednesday it will buy back 200 million of its shares from the U.S. Treasury, which intends to sell the rest of its GM stake over the next 15 months, bringing to an end ownership that led to the nickname "Government Motors." UBS fined $1.5 billion in growing Libor scandal ZURICH (Reuters) - Swiss bank UBS admitted fraud and accepted a $1.5 billion fine on Wednesday for its role in manipulating global benchmark interest rates. Home building permits near four-and-half year high WASHINGTON (Reuters) - U.S. permits for future home construction set their fastest pace in nearly 4-1/2 years in November, pointing to underlying strength in the housing market, even as starts dropped after three straight months of strong gains. Republicans put squeeze on Obama in "fiscal cliff" talks WASHINGTON (Reuters) - Frustrated by their inability to wring more "fiscal cliff" concessions out of President Barack Obama, Republicans in the U.S. House of Representatives announced Tuesday night that they expect to pass their own tax bill as a backup plan to avert the tax hikes and automatic budget cuts set to occur in January. Getco to buy Knight Capital for $1.4 billion (Reuters) - Knight Capital Group Inc , which suffered a near-fatal trading error in August, said it will be acquired by electronic trading firm Getco Holdings Co in a deal valued at $1.4 billion in cash and stock. FedEx profit drops less than investors feared (Reuters) - FedEx Corp profit fell 11.9 percent in the second quarter, less than investors had feared, as the No. 2 U.S. package delivery company struggled to improve demand at its air freight business. Fitch warns fiscal cliff could cost U.S. its AAA rating LONDON (Reuters) - Ratings firm Fitch said on Wednesday it is more likely to strip the United States of its triple-A status if a political deal is not reached to halt $600 billion of spending cuts and tax hikes set for early next year. Hyundai recalls 2012 Veloster on potential of shattering sunroof (Reuters) - Hyundai Motor Co is recalling about 13,500 of its 2012 Veloster models with sunroofs that may shatter while the car is moving, the company and U.S. safety regulators said. Rising German business morale points to growth rebound BERLIN (Reuters) - Morale at German businesses climbed in December as their confidence in the outlook rose at its fastest rate in 2-1/2 years, boosting hopes Europe's largest economy will bounce back quickly after a weak end to 2012. Related Video U.S. Morning Call: UBS fined $1.5 bln for Libor rigging Market Pulse: UBS provision shortfall worrying: Olivetree Economic News Home building permits near four-and-half year high Republicans put squeeze on Obama in "fiscal cliff" talks 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