Business Today: Stock futures rebound after sell-off

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Good Morning Robert, WED 02 Jun 2010 
 
Stock futures rebound after sell-off
Prudential ends $35.5 billion Asian takeover bid
Market slide may dent AgBank IPO valuation hopes
BP tries again to curb oil spill as stock falls anew
Job cuts close to unchanged in May vs April
JPMorgan and BofA lead candidates for GM IPO: report
Ireland to bail out Anglo Irish again this year: PM
Honda China parts plant restarts, walkout threatened
Top central banks not planning shift out of euro: sources
Citi cuts up to 600 CitiFinancial jobs


Stock futures rebound after sell-off
June 02, 2010 08:08 AM ET
NEW YORK (Reuters) - Stock index futures rose on Wednesday, recovering from a sell-off in the previous session as investors awaited monthly data on pending home and auto sales.

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Prudential ends $35.5 billion Asian takeover bid
June 02, 2010 08:26 AM ET
HONG KONG/LONDON (Reuters) - UK insurer Prudential has abandoned its plan to buy AIG's Asian life unit for $35.5 billion, leaving management under fire and the company facing a $659 million bill for failure.

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Market slide may dent AgBank IPO valuation hopes
June 02, 2010 05:03 AM ET
HONG KONG/SHANGHAI (Reuters) - Agricultural Bank of China may struggle to get the kind of valuation it wants as it gears up to launch the world's biggest IPO into a market that has slumped by a fifth in just six weeks.

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BP tries again to curb oil spill as stock falls anew
June 02, 2010 08:11 AM ET
VENICE, Louisiana (Reuters) - BP Plc forged ahead with its latest effort to curb the flow of oil spewing into the Gulf of Mexico as the British energy giant's shares fell anew on Wednesday and the U.S. government launched criminal and civil probes into the disaster.

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Job cuts close to unchanged in May vs April
June 02, 2010 07:31 AM ET
NEW YORK (Reuters) - The number of planned layoffs at U.S. companies in May was almost unchanged from April, when they touched a four-year low, suggesting employers are more upbeat about the economic outlook, a report on Wednesday showed.

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JPMorgan and BofA lead candidates for GM IPO: report
June 01, 2010 04:36 PM ET
NEW YORK (Reuters) - Bank of America Merrill Lynch and JPMorgan are the lead candidates for "senior manager" underwriting roles on the General Motors initial public offering, according to Fox Business Network's Charlie Gasparino.

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Ireland to bail out Anglo Irish again this year: PM
June 02, 2010 06:32 AM ET
DUBLIN (Reuters) - Ireland expects to provide more capital to nationalized Anglo Irish Bank this year on top of the 4 billion euros ($4.86 billion) paid in 2009 and 10.3 billion so far this year, Prime Minister Brian Cowen said.

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Honda China parts plant restarts, walkout threatened
June 02, 2010 07:08 AM ET
FOSHAN, China (Reuters) - Honda Motor said a key car parts factory in south China resumed full production on Wednesday, ending more than two weeks of disruption after workers downed tools to demand higher wages in a high-profile and sometimes violent strike.

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Top central banks not planning shift out of euro: sources
June 02, 2010 03:26 AM ET
TOKYO/BRASILIA (Reuters) - Some of the world's richest central banks will not stop investing in the euro, supporting its reserve status, despite the sovereign debt crisis hammering the euro zone's currency, government sources said.

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Citi cuts up to 600 CitiFinancial jobs
June 01, 2010 03:38 PM ET
NEW YORK (Reuters) - Citigroup Inc's CitiFinancial unit will shut 330 of its U.S. branches and cut between 500 and 600 jobs, in an effort to cut costs at the business and make it more attractive to potential buyers.

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