Business Today: Stock futures edge higher before Fed meeting; data on tap

		Click to View in Browser 07/31/2012 Stock futures edge higher before Fed meeting; data on tap NEW YORK (Reuters) - Stock index futures edged higher on Tuesday as the Federal Reserve was set to begin a two-day policy meeting at which the central bank is largely expected to unveil new measures to stimulate the economy. Inflation-adjusted consumer spending falls in June WASHINGTON (Reuters) - Spending by American consumers fell in June for the first time in nearly a year when accounting for inflation, suggesting the economy lost momentum as it ended the second quarter. Employment costs up modestly in second quarter WASHINGTON (Reuters) - Labor costs rose moderately in the second quarter, according to government data on Tuesday that underscored benign wage inflation against the backdrop of a weak jobs market. Pfizer beats forecasts, helped by cost cuts (Reuters) - Pfizer Inc reported higher-than-expected quarterly earnings, helped by cuts in research spending and other costs, and affirmed its 2012 profit forecast despite the negative impact of the stronger dollar. Monti sees light in euro tunnel, but ECB hopes dim ROME/FRANKFURT (Reuters) - Italian Prime Minister Mario Monti said on Tuesday that Europe was starting to see light at the end of the tunnel of the euro zone's sovereign debt crisis, belying a welter of deteriorating economic data. Deutsche Bank to slash 1,900 jobs to save $3.67 billion FRANKFURT (Reuters) - Deutsche Bank said it will slash 1,900 jobs in an effort to achieve cost savings of about 3 billion euros ($3.67 billion) as part of a broader strategic overhaul unveiled by the bank's new chiefs on Tuesday. China swings into capital account deficit in second quarter BEIJING (Reuters) - China's capital and financial account swung into a deficit of $71.4 billion from a surplus of $56.1 billion in the first quarter as domestic firms and residents increased their holdings of foreign currencies amid the global turbulence, the nation's foreign exchange regulator said on Tuesday. India's April-June fiscal deficit at $34.22 billion: government NEW DELHI (Reuters) - India's fiscal deficit during the April-June period rose to 1.9 trillion rupees ($34.22 billion), or 37.1 percent of the full fiscal year 2012/13, government data showed on Tuesday. BP results show strain of Russia, U.S. spill LONDON (Reuters) - BP Plc cemented its status as problem child among the world's top oil companies on Tuesday with unexpectedly weak quarterly results, slashing $5 billion off the value of its U.S. assets and undershooting forecasts at operating level. Terumo sues Olympus over lost shareholder value TOKYO (Reuters) - Japan's Terumo Corp said on Tuesday it had filed a lawsuit against Olympus Corp , seeking damages for lost shareholder value, and escalating a tussle with the endoscope maker over a tie-up proposal. Related Video The downfall of 'China's Jackie Kennedy' Reuters Today: Trading slump hits bank profits Economic News Cautious consumers, foreign trade curb second quarter growth Consumer sentiment falls to 2012 low 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