Business Today: Futures bounce as bargain hunters prowl

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Good Morning Robert, TUE 06 Jul 2010 
 
Futures bounce as bargain hunters prowl
BP approaches funds to fend off takeover bids: source
World stocks bounce back from lows
China awaits record AgBank IPO as books close
BP shares rise as company says no plan to issue stock
Walgreen June same-store sales up 2 percent
BofA director wanted outsider for CEO: report
Citigroup weighs moving proprietary traders: report
HSBC clients in U.S. tax probe: report
Global chip sales up 4.5 percent in May versus April: SIA


Futures bounce as bargain hunters prowl
July 06, 2010 07:16 AM ET
NEW YORK (Reuters) - U.S. stock index futures rose sharply on Tuesday, tracking gains in global equity markets, as investors looked to rebound from its worst week in two months.

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BP approaches funds to fend off takeover bids: source
July 06, 2010 08:09 AM ET
DUBAI (Reuters) - British oil company BP has approached sovereign wealth funds with a view to securing a strategic investor to fend off takeover bids while it deals with its massive U.S. oil spill, a senior UAE source said on Tuesday.

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World stocks bounce back from lows
July 06, 2010 07:24 AM ET
LONDON (Reuters) - World stocks bounced higher on Tuesday from a recent five-week low in a broad risk rally that boosted oil prices, while investors sold off the dollar and government bonds.

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China awaits record AgBank IPO as books close
July 06, 2010 07:56 AM ET
SHANGHAI/HONG KONG (Reuters) - Agricultural Bank of China, the country's No.3 bank by assets, has closed the books on its dual Hong Kong and Shanghai share sale and could break all IPO records by raising more than $22 billion.

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BP shares rise as company says no plan to issue stock
July 06, 2010 08:17 AM ET
LONDON (Reuters) - BP ruled out a share issue and talk persisted of sovereign wealth fund interest in the British oil major, boosting its shares on Tuesday even as its Gulf of Mexico oil slick spread to the Texas coast.

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Walgreen June same-store sales up 2 percent
July 06, 2010 08:26 AM ET
NEW YORK (Reuters) - Walgreen Co said sales at drugstores open at least a year rose 2 percent in June, better than the 1.1 percent rise expected by 5 analysts, according to Thomson Reuters data.

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BofA director wanted outsider for CEO: report
July 05, 2010 08:51 PM ET
NEW YORK (Reuters) - A Bank of America Corp board member wanted an outsider to take over as chief executive in December but eventually gave in to backing Brian Moynihan for the post, the Wall Street Journal reported on Monday.

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Citigroup weighs moving proprietary traders: report
July 05, 2010 09:50 PM ET
NEW YORK (Reuters) - Citigroup Inc is weighing moving about two dozen proprietary traders to desks that trade with clients as some banks try to find new positions for star traders amid financial regulation overhaul, the Wall Street Journal reported on Monday.

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HSBC clients in U.S. tax probe: report
July 05, 2010 11:57 PM ET
HONG KONG (Reuters) - Some HSBC Holdings clients are being investigated by the U.S. Justice Department on suspicion of failing to disclose accounts in India or Singapore, Bloomberg reported on Monday, citing three people it did not identify.

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Global chip sales up 4.5 percent in May versus April: SIA
July 06, 2010 07:48 AM ET
(Reuters) - Worldwide semiconductor sales rose 4.5 percent in May from April to $24.7 billion, helped by strong sales of personal computers, cell phones, corporate information technology, industrial applications and autos, the Semiconductor Industry Association (SIA) said.

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