Business Today: Stock futures begin March lower as sequester looms

		Click to View in Browser 03/1/2013 Stock futures begin March lower as sequester looms NEW YORK (Reuters) - Stock index futures were lower on Friday, indicating a weak start to the month of March, as investors looked ahead to U.S. government budget cuts that were widely expected to take effect at the end of the day. Consumer spending up, income posts largest drop in 20 years WASHINGTON (Reuters) - U.S. consumer spending rose in January as Americans spent more on services, with savings providing a cushion after income recorded its biggest drop in 20 years. Goldman Sachs trims risk-taking to lowest level in seven years (Reuters) - Goldman Sachs Group Inc reduced its risk-taking for a third straight year, with potential losses from trading positions dropping to the lowest level in seven years. Chesapeake, CEO McClendon under SEC investigation (Reuters) - Chesapeake Energy Corp said the U.S. Securities and Exchange Commission was investigating the company and Chief Executive Aubrey McClendon and had issued subpoenas for information and testimony. Chrysler posts best February U.S. sales in five years DETROIT (Reuters) - Chrysler Group LLC said Friday its U.S. sales of 139,015 in February rose 4 percent from 133,521 a year before and were its best February sales in five years. Best Buy talks end, source says; adjusted profit falls NEW YORK (Reuters) - Best Buy Co and founder Richard Schulze have ended their talks after Schulze and private equity investors sought three board seats in exchange for taking a minority stake in the company, a source familiar with the matter said on Friday. U.S. stares down start of steep "automatic" budget cuts WASHINGTON (Reuters) - The U.S. government hurtled on Friday toward making deep spending cuts that threaten to hinder the nation's economic recovery, after Republicans and Democrats failed to agree on an alternative deficit-reduction plan. Exclusive: Glencore bartered with firm linked to Iran nuclear program UNITED NATIONS (Reuters) - Commodities giant Glencore supplied thousands of tons of alumina to an Iranian firm that has provided aluminum to Iran's nuclear program, intelligence and diplomatic sources told Reuters. Ad firm WPP sees business confidence improving LONDON (Reuters) - WPP , the world's biggest advertising company, reported a stronger-than-expected rebound in revenue growth at the end of 2012 and nudged up its forecast for this year, citing signs of improving business confidence. Citigroup raises estimate of uncovered legal risk (Reuters) - Citigroup Inc on Friday raised the estimate of its possible legal and regulatory risk in excess of reserves to $5 billion from $4 billion. Related Video U.S. Morning Call: Sequestration Day starts Reuters on the Road: Sooqini – save time, get jobs Economic News Consumer spending up, income posts largest drop in 20 years Stalling European factories and slowing China leave world economy looking to America 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