Business Today: Stock futures slip on Alcoa results, Chevron warning

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Good Morning Postlinuxeg, TUE 12 Jan 2010    Stock futures slip on Alcoa results, Chevron warning Cadbury rejects Kraft, reports robust trading KB Home posts quarterly profit as revenue falls U.S. trade gap widens in November on import jump Alcoa misses Street estimate, shares fall China surprises with early bank reserve increase Google's investment arm to grow partner ranks Fed earned $45 billion in 2009: report American Airlines sweetens offer as JAL shares plunge BofA in talks to settle with Cuomo's office: report JAL slides on delisting jitters Earnings season begins Clinton heads to South Pacific Stock futures slip on Alcoa results, Chevron warning January 12, 2010 08:01 AM ET NEW YORK (Reuters) - Stock index futures dropped on Tuesday on a subpar start to earnings season following Alcoa Inc's worse-than-expected results and Chevron Corp's warning that its income would be "sharply lower." Full Article Cadbury rejects Kraft, reports robust trading January 12, 2010 08:33 AM ET LONDON (Reuters) - Britain's Cadbury showcased robust 2009 results and an upbeat outlook on Tuesday in its last move to rebuff U.S. giant Kraft Foods' 10.5 billion pound ($17 billion) hostile takeover bid. Full Article KB Home posts quarterly profit as revenue falls January 12, 2010 08:21 AM ET NEW YORK (Reuters) - KB Home, one of the top five U.S. homebuilders, posted a quarterly profit on Tuesday, helped by a tax benefit. Full Article U.S. trade gap widens in November on import jump January 12, 2010 08:35 AM ET WASHINGTON (Reuters) - The U.S. trade deficit widened more than expected in November, as stronger consumer and manufacturer demand pushed imports to the highest level in nearly a year, a Commerce Department report showed on Tuesday. Full Article Alcoa misses Street estimate, shares fall January 12, 2010 07:05 AM ET NEW YORK (Reuters) - Alcoa Inc posted a narrower quarterly loss on Monday, but the results fell short of expectations and the aluminum producer's stock fell more than 5 percent. Full Article China surprises with early bank reserve increase January 12, 2010 07:15 AM ET BEIJING (Reuters) - China on Tuesday raised the proportion of deposits that banks must hold in reserve, in the clearest sign yet that it has started to tighten monetary policy with its economy roaring back to the brink of overheating. Full Article Google's investment arm to grow partner ranks January 12, 2010 08:09 AM ET SAN FRANCISCO (Reuters) - Google Inc's venture capital arm, Google Ventures, is bringing more partners onboard as the $100 million fund seeks to build upon the eight investments it has made in companies since its launch last spring. Full Article Fed earned $45 billion in 2009: report January 12, 2010 07:39 AM ET WASHINGTON (Reuters) - The Federal Reserve made record profits in 2009 and will return $45 billion to the Treasury, after its efforts to prop up the economy created a windfall for the government, the Washington Post reported. Full Article American Airlines sweetens offer as JAL shares plunge January 12, 2010 06:30 AM ET TOKYO (Reuters) - American Airlines and its partners in the Oneworld alliance sweetened their offer to Japan Airlines to $1.4 billion to keep the struggling national carrier from joining hands with rival Delta Air Lines. Full Article BofA in talks to settle with Cuomo's office: report January 12, 2010 07:10 AM ET (Reuters) - Bank of America Corp is in talks with New York attorney general Andrew Cuomo's office to settle a probe on bonuses paid to Merrill Lynch executives, the New York Times reported, citing people with knowledge of the matter. Full Article

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