Business Today: Stock futures buck global downdraft; manufacturing data on tap

		Click to View in Browser 06/3/2013 Stock futures buck global downdraft; manufacturing data on tap NEW YORK (Reuters) - Stock futures rose on Monday, rebounding from Friday's sharp selloff, as expectations for weak U.S. manufacturing data eased some worries that the Federal Reserve may end its monetary stimulus earlier than expected - a concern that has been weighing on the market for the past week. Bank of America $8.5 billion settlement heads for court showdown NEW YORK (Reuters) - A long-running fight comes to a head on Monday when court proceedings begin over an $8.5 billion settlement between Bank of America Corp and investors in mortgage securities that turned sour in the financial crisis. Fidelity Contrafund cuts Apple stake by another 9 percent in April BOSTON (Reuters) - After cutting its stake in Apple Inc by 12 percent in the first quarter, Fidelity's Contrafund trimmed its holdings in the iPhone maker by another 9 percent in April. Chrysler auto sales up 11 percent, led by pickup trucks DETROIT (Reuters) - Strong sales of pickup trucks helped boost Chrysler Group LLC May auto sales by 11 percent, Chrysler said on Monday, easily beating analysts' expectations. American Realty Capital Trust IV to buy $1.45 billion GE Capital portfolio (Reuters) - American Realty Capital Trust IV (ARCT) said it would buy a portfolio of retail properties from General Electric Co's financial arm for $1.45 billion as it looks to cut its dependence on its top 10 tenants. Fed bond buying could slow, inflation needs watching: Williams STOCKHOLM (Reuters) - San Francisco Federal Reserve Bank President John Williams reiterated his view on Monday that an improving U.S. economy would allow the Federal Reserve to pare back its stimulatory bond buying, but low inflation needed to be closely watched. EU regulators to impose fines on generic drug makers BRUSSELS (Reuters) - European regulators will clamp down on "pay-for-delay" deals in the pharmaceutical sector this month, fining Denmark's Lundbeck and eight other generic drug manufacturers for limiting access of cheaper products to the market. Airlines agree common plan for tackling emissions CAPE TOWN (Reuters) - Global airlines have agreed on a proposal for tackling aircraft emissions in a bid to break international deadlock over an issue that has stoked fears of a carbon trade war. Euro zone factory slump eases, Asia's momentum slides LONDON/BEIJING (Reuters) - Euro zone manufacturing contracted again last month, although at a slightly slower pace, while Asian factories lost momentum, underlining the somber prospects for the world economy in the second quarter. IATA raises airline industry profit forecast CAPE TOWN (Reuters) - Global airlines should post an industry profit of $12.7 billion this year, an increase from a previous $10.6 billion forecast, as lower oil prices and belt-tightening offset difficult economic conditions, industry group IATA said on Monday. Related Video U.S. Morning Call: Apple closer to streaming music service Market Pulse:Turkey roasted but overdone, still looks tasty Economic News Fed bond buying could slow, inflation needs watching: Williams Bernanke jokes about own future in Princeton commencement speech 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