Newsletter BOX: Business Today: Selling pressure recedes after rout, Syria in focus

08/28/2013

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Selling pressure recedes after rout, Syria in focus

NEW YORK (Reuters) - U.S. stock index futures were little changed Wednesday as selling pressure abated following stocks' worst day since June as the United States and its allies appeared ready to strike Syria in response to an alleged chemical weapons attack on civilians.

Mortgage applications fall as rates hit 2013 high: MBA

NEW YORK (Reuters) - Applications for U.S. home loans fell for a third straight week as average mortgage rates hit their highest level this year, although demand for purchase loans increased, data from an industry group showed on Wednesday.

Swiss give nod to possible tax deal with the U.S.

ZURICH (Reuters) - Switzerland has given the go-ahead to finalize a joint statement with the United States that it hopes will bring to an end a long, costly dispute over Swiss banks that have sheltered U.S. tax evaders.

Zale fourth-quarter same-store sales rise more than expected

(Reuters) - Zale Corp posted higher-than-expected fourth-quarter comparable sales on Wednesday, led by big gains at its flagship chain, and reported its first profitable fiscal year since the financial crisis in 2008.

Carney says rates pressure might trigger more Bank of England stimulus

NOTTINGHAM, England (Reuters) - The Bank of England may pump more money into Britain's economy if financial markets get ahead of themselves and threaten to choke off its recovery, its governor said on Wednesday.

Express second-quarter profit rises 7 percent

(Reuters) - Apparel and accessories retailer Express Inc reported a 7 percent increase in quarterly profit as it attracted more customers.

Russia orders oil supply cut to Belarus

MOSCOW (Reuters) - Russia's state pipeline monopoly Transneft has ordered a cut in oil supplies to Belarus by 400,000 tonnes, or nearly one-quarter of previously planned deliveries for September, the firm and trading sources said on Wednesday.

Regulators to fine JPMorgan $80 million over consumer dealings: NYT

(Reuters) - U.S. federal regulators are preparing to impose a fine of $80 million on JPMorgan Chase & Co relating to its dealings with retail customers during the recession, the New York Times reported, citing people familiar with the matter.

Euro zone loan slump puts onus on ECB to keep rates low

FRANKFURT (Reuters) - Lending to the euro zone's private sector contracted further in July, dragging on the euro zone's nascent economic recovery and keeping up pressure on the European Central Bank to maintain its expansive monetary policy.

Analysis: After mega-LBO boom, a massive private equity cleanup

NEW YORK (Reuters) - According to Blackstone Group LP's books, the private equity firm's investment in Hilton Worldwide Inc was worth 50 percent more this year than when it took the international hotel chain private in 2007.