Newsletter BOX: Business Today: U.S. economy finds momentum in second quarter, further gains seen

07/31/2013

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U.S. economy finds momentum in second quarter, further gains seen

WASHINGTON (Reuters) - U.S. economic growth unexpectedly accelerated in the second quarter, laying a firmer foundation for the rest of the year that could bring the Federal Reserve a step closer to cutting back its monetary stimulus.

Ackman buys 9.8 percent stake in Air Products

(Reuters) - Activist investor William Ackman said his Pershing Square Capital Management has acquired a 9.8 percent stake in Air Products & Chemicals Inc , one week after the industrial gas producer adopted a poison pill takeover defense.

Stock futures flat after GDP data

NEW YORK (Reuters) - U.S. stock index futures held at flat levels on Wednesday after a read on second-quarter economic growth came in stronger than expected.

U.S. private sector adds 200,000 jobs in July: ADP

NEW YORK (Reuters) - U.S. private employers added 200,000 jobs in July, topping economists' expectations in an encouraging sign for the labor market recovery, a report by a payrolls processor showed on Wednesday.

Beijing offers growth assurance in its economic balancing act

BEIJING (Reuters) - China's authorities, mindful of the risk of a sharp economic slowdown that could derail their reform efforts, sent their clearest signal yet that they will safeguard growth and tweak policy when necessary.

Belaruskali not consulted on Uralkali pullout, promises new sales plan

MINSK (Reuters) - Belarussian potash producer Belaruskali said on Wednesday it had not been consulted by Uralkali before the Russian company quit their joint venture and promised a new sales strategy to address the new market conditions.

MasterCard posts 21 percent rise in profit, shares rise

(Reuters) - MasterCard Inc reported a better-than-expected 21 percent rise in quarterly profit as more people used cards to make payments, sending its shares up 3 percent before the bell.

Comcast's second-quarter profit, revenue rises

(Reuters) - Comcast Corp posted a higher quarterly profit on Wednesday, as it added more Internet customers than expected on the cable side and saw a more than 20 percent increase in operating cash flow at its NBC Universal unit.

Burger King profit beats estimates as costs fall

(Reuters) - Burger King Worldwide Inc reported a higher-than-expected 30 percent rise in quarterly profit, helped by a sharp fall in costs as the third-biggest U.S. hamburger chain moves to a fully franchised model.