Business Today: U.S. trade gap hits three-and-half year low, weak petroleum imports help

		Click to View in Browser 08/6/2013 U.S. trade gap hits three-and-half year low, weak petroleum imports help WASHINGTON (Reuters) - The U.S. trade deficit narrowed sharply in June to its lowest level in more than 3-1/2 years as imports reversed the prior month's spike, suggesting an upward revision to second-quarter growth. ICE profit rises 7 percent on energy futures, CDS clearing NEW YORK (Reuters) - IntercontinentalExchange Inc , which is in the process of buying NYSE Euronext for $8.2 billion, reported a 7 percent rise in second-quarter profit on Tuesday, helped by higher energy futures volumes and credit default swap clearing. Stock futures point to slight losses at the open NEW YORK (Reuters) - Stock index futures pointed to a modestly lower open on Tuesday as investors sought new catalysts to extend a recent rally that has taken indexes to record highs in recent sessions. CVS profit up, pharmacy benefits unit has strong growth (Reuters) - CVS Caremark Corp's second-quarter profit rose slightly more than Wall Street expected, as profit growth at the pharmacy benefits management unit outpaced its drugstores. GM cuts Volt electric car price by $5,000 for 2014 model DETROIT (Reuters) - General Motors Co said on Tuesday it is slashing the price of its Chevrolet Volt electric car by $5,000 to help boost demand for the plug-in hybrid in a segment still struggling to gain a foothold in the U.S. auto market. Standard Chartered's profit hit by $1 billion Korean writedown LONDON (Reuters) - Asia-focused bank Standard Chartered took a $1 billion hit on the value of its troubled Korean business on Tuesday, dragging earnings down 16 percent and warning of a slow turnaround in its most difficult market. Tight U.S. crop supply squeezes ADM profits CHICAGO (Reuters) - Agribusiness company Archer Daniels Midland Co said on Tuesday that quarterly earnings fell as crop supplies tightened in the United States. Amazon's Bezos to buy the Washington Post for $250 million (Reuters) - Amazon.com Inc founder Jeff Bezos will buy the Washington Post newspaper for $250 million in a surprise deal that ends the Graham family's 80 years of ownership and hands one of the country's most influential publications to the businessman whose Internet company has transformed retailing. Dish reports net loss, decline in pay-TV subscribers (Reuters) - Dish Network Corp, the second-largest U.S. satellite TV company, posted a net loss in the second quarter as it took a $438 million charge related to satellite acquisitions, and reported a decline in gross pay-TV subscribers. OfficeMax results highlight office supply sector woes (Reuters) - OfficeMax Inc reported lower-than-expected quarterly results on lackluster sales to corporate customers and regular shoppers, and warned of weak sales in the period that includes the all-important back-to-school season. Related Video U.S. Morning Call: 'Citizen Bezos' buys iconic WaPo Daily Digit: French bank's bounceback Economic News U.S. trade gap hits three-and-half year low, weak petroleum imports help Shrunken workforce gives Fed added policy headroom 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