Business Today: Restocking, trade boost U.S. third-quarter economic growth

		Click to View in Browser 11/7/2013 Restocking, trade boost U.S. third-quarter economic growth WASHINGTON (Reuters) - The U.S. economy grew faster than expected in the third quarter as businesses restocked shelves, but a slowdown in consumer and business spending pointed to an underlying weakness. ECB cuts rates to new low after inflation tumble FRANKFURT (Reuters) - The European Central Bank cut interest rates to a new record low on Thursday, responding to a slump in inflation that has sparked fears the euro zone's economic recovery could stall. Twitter set for volatile debut after IPO raises at least $1.8 billion (Reuters) - Twitter Inc could face volatile trade in its debut Thursday on the New York Stock Exchange, analysts said, but they remained enthusiastic after the money-losing social media company priced its IPO above the expected range. Penney monthly same-store sales rise for first time since 2011 (Reuters) - J.C. Penney Co Inc on Thursday reported its first monthly same-store sales gain in nearly two years on the back of deep discounts and the decision to resume stocking merchandise that the retailer's long-time shoppers liked. Stock futures trim gains after GDP, jobless claims data NEW YORK (Reuters) - Stock index futures briefly trimmed gains on Thursday after data showed the U.S. economy grew faster than expected in the third quarter and initial claims for state unemployment benefits fell last week, mostly in line with expectations. U.S. retailers' October sales rise, but holiday concerns remain (Reuters) - Costco Wholesale Corp and Victoria's Secret parent L Brands Inc were among the major U.S. retailers to report same-store sales gains for October, but the outlook remained downbeat heading into the holiday season. Siemens splashes out on buyback as new CEO works on strategy BERLIN (Reuters) - Siemens' new Chief Executive Joe Kaeser promised on Thursday to buy back up to 4 billion euros ($5.4 billion) worth of shares while asking investors for patience as he works out a strategy by May to close a gap with more profitable rivals. SocGen, Agricole agree asset swap in strategy shift PARIS (Reuters) - French banks Societe Generale and Credit Agricole have agreed an asset swap designed to help narrow their business focus, part of efforts to improve their investor appeal in a tough economic and regulatory climate. Wendy's sales miss estimates, shares fall (Reuters) - Wendy's Co , the second-largest U.S. hamburger chain, reported lower-than-expected quarterly revenue, sending its shares down 9 percent in premarket trading. China extends graft investigation into shipping industry HONG KONG (Reuters) - China's campaign to root out deep-seated corruption has now extended into the shipping industry, after the country's largest bulk shipper, China COSCO Holdings Co Ltd, said the government was probing one of its top executives. Related Video Breakingviews: Swiss banks can handle stricter capital rules Economy 2013: Gold slide saps Randgold Economic News Restocking, trade boost U.S. third-quarter economic growth U.S. retailers' October sales rise, but holiday concerns remain 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