Business Today: Futures rise on tax cut deal

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Good Morning Aron, TUE 07 Dec 2010    Futures rise on tax cut deal U.S. exits Citigroup stake and earns $12 billion profit Markets tense as EU makes no move on debt crisis China rate rise talk builds as loans and inflation rise Wal-Mart class-action appeal goes to Supreme Court Sumitomo may invest in Molycorp for rare earth supply Salesforce.com takes on Oracle in database market Tesco sees good growth overseas, UK picking up China's Bright Food close to GNC deal: source U.S. economy still not on Easy Street Japan's corporate mood sours Japan eyes rare earth deals Obama reaches deal on taxes Futures rise on tax cut deal December 07, 2010 07:47 AM ET NEW YORK (Reuters) - Stock index futures rose on Tuesday after President Barack Obama forged a compromise with Republicans to extend Bush-era tax breaks for two years. Full Article U.S. exits Citigroup stake and earns $12 billion profit December 07, 2010 12:52 AM ET WASHINGTON (Reuters) - The U.S. government sold off its remaining shares in Citigroup Inc on Monday for $4.35 each, marking an exit from ownership in the bailed-out banking giant with a $12 billion gross profit for taxpayers. Full Article Markets tense as EU makes no move on debt crisis December 07, 2010 08:31 AM ET BRUSSELS/LONDON (Reuters) - Tension persisted on European bond markets on Tuesday after Germany and fellow euro zone states resisted IMF calls to do more to quell the currency bloc's debt crisis, leaving the ball with a reluctant European Central Bank. Full Article China rate rise talk builds as loans and inflation rise December 07, 2010 08:07 AM ET BEIJING (Reuters) - China is likely to raise interest rates in the coming days in a demonstration of the government's resolve to tame inflation, an official newspaper said on Tuesday. Full Article Wal-Mart class-action appeal goes to Supreme Court December 06, 2010 10:16 PM ET WASHINGTON (Reuters) - The Supreme Court said on Monday it would decide if the largest sex-discrimination class-action lawsuit in U.S. history against Wal-Mart Stores Inc can proceed, a case involving women workers who seek billions of dollars in damages. Full Article Sumitomo may invest in Molycorp for rare earth supply December 07, 2010 03:42 AM ET TOKYO (Reuters) - Sumitomo Corp is in talks with Molycorp on a rare earth supply deal and may take a stake in the U.S. company, the latest move by a Japanese firm to secure supplies of the crucial minerals outside China. Full Article Salesforce.com takes on Oracle in database market December 07, 2010 08:15 AM ET BOSTON (Reuters) - Cloud-based software maker Salesforce.com Inc is entering the business of selling database programs that manage vast arrays of corporate data, challenging leader Oracle Corp in the $21 billion a year market. Full Article Tesco sees good growth overseas, UK picking up December 07, 2010 06:18 AM ET LONDON (Reuters) - Tesco Plc, the world's No.3 retailer, said overseas markets drove a 7.2 percent rise in third-quarter sales and it was seeing a pick-up in demand in its main British market heading into peak Christmas trading. Full Article China's Bright Food close to GNC deal: source December 07, 2010 12:05 AM ET PHILADELPHIA/HONG KONG (Reuters) - China's Bright Food Group Co is near a deal to buy U.S. vitamin retailer GNC Holdings Inc, giving the well-known foreign brand a potential entry to China to cater to the country's growing middle class. Full Article U.S. economy still not on Easy Street December 06, 2010 08:46 PM ET NEW YORK (Reuters) - The U.S. economic recovery remains on shaky ground, well over a year after the recession officially ended, and two top strategists said on Monday they fear the economy could suffer a new blow next year. Full Article

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