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Thursday, September 22, 2011 1:23 AM PDT

Today's Reuters Business News Headlines - Yahoo! News: Stocks slump on gloomy Fed, China PMI Fed takes new tack to avoid economic slump FedEx seen cutting outlook with economy stalled Analysis: Bernanke's twist may do little for jobs Dealers see 15 percent chance Fed's twist boosting economy: poll SABMiller bid set to succeed, say Foster's shareholders UBS chief's message to board: stick with "integrated" bank UAW turns to Ford as Chrysler talks stall United Tech to buy Goodrich for $16.5 billion Greece sharpens austerity; IMF warns on banks Sarkozy told Obama euro zone to end crisis: source Goffer sentenced to 10 years for insider trading Ex-Goldman employee charged with insider trading Insiders handed four- and 10-year prison terms Lehman to drop appeals over Barclays sale Stocks slump on gloomy Fed, China PMI Wed,21 Sep 2011 11:54 PM PDT Reuters - SINGAPORE (Reuters) - Stocks tumbled and the dollar surged on Thursday after a warning from the Federal Reserve that the United States faced a grim economic outlook with "significant downside risks" and further evidence of a slowdown in China. Full Story Top Fed takes new tack to avoid economic slump Wed,21 Sep 2011 09:53 PM PDT Reuters - WASHINGTON (Reuters) - The Federal Reserve on Wednesday warned of significant risks to the already weak U.S. economy and launched a new plan to lower long-term borrowing costs and bolster the battered housing market. Full Story Top FedEx seen cutting outlook with economy stalled Wed,21 Sep 2011 09:50 PM PDT Reuters - (Reuters) - FedEx Corp is seen reporting higher quarterly results than a year ago on Thursday, but analysts are more keen to see if the No. 2 package delivery company cuts its full-year guidance because stalled global economic growth has stifled volume. Full Story Top Analysis: Bernanke's twist may do little for jobs Wed,21 Sep 2011 09:50 PM PDT Reuters - (Reuters) - The Federal Reserve's latest effort to push down long-term U.S. borrowing costs may not do much for the central bank's main worry -- persistently high unemployment that could leave lasting scars on the economy. Full Story Top Dealers see 15 percent chance Fed's twist boosting economy: poll Wed,21 Sep 2011 09:50 PM PDT Reuters - NEW YORK (Reuters) - Wall Street sees only a 15 percent chance the Federal Reserve's latest plan to intervene in the bond market will give the U.S. economy a meaningful boost, according to a Reuters poll on Wednesday. Full Story Top SABMiller bid set to succeed, say Foster's shareholders Wed,21 Sep 2011 09:47 PM PDT Reuters - MELBOURNE (Reuters) - SABMiller's $10 billion bid for Australian brewer Foster's Group looks set for success as key shareholders backed the sweetened deal on Thursday with only an outside chance of a rival offer now posing a threat. Full Story Top UBS chief's message to board: stick with "integrated" bank Wed,21 Sep 2011 08:42 PM PDT Reuters - SINGAPORE (Reuters) - UBS CEO Oswald Gruebel will stress to the board of directors that he wants the investment bank to remain part of Swiss bank's "integrated banking model" in meetings on Thursday and Friday, sources said, after rogue trading cost the bank $2.3 billion. Full Story Top UAW turns to Ford as Chrysler talks stall Wed,21 Sep 2011 07:47 PM PDT Reuters - DETROIT (Reuters) - The United Auto Workers has turned its focus in contract negotiations to Ford Motor Co , an abrupt shift in negotiating strategy after talks stalled with Chrysler. Full Story Top United Tech to buy Goodrich for $16.5 billion Wed,21 Sep 2011 07:38 PM PDT Reuters - (Reuters) - United Technologies Corp has reached a $16.5 billion cash deal to acquire aircraft components maker Goodrich Corp , in what would be the diversified U.S. manufacturer's biggest deal in a decade. Full Story Top Greece sharpens austerity; IMF warns on banks Wed,21 Sep 2011 06:13 PM PDT Reuters - ATHENS/WASHINGTON (Reuters) - Greece adopted yet more austerity measures on Wednesday to secure a bailout installment crucial to avoid running out of money next month, as the IMF warned that Europe's sovereign debt crisis risks tearing a giant hole in banks' capital. Full Story Top Sarkozy told Obama euro zone to end crisis: source Wed,21 Sep 2011 06:13 PM PDT Reuters - NEW YORK (Reuters) - French President Nicolas Sarkozy assured U.S. President Barack Obama on Wednesday the euro zone intends to resolve the euro crisis and support Greece, a French presidential source said. Full Story Top Goffer sentenced to 10 years for insider trading Wed,21 Sep 2011 05:50 PM PDT Reuters - NEW YORK (Reuters) - Zvi Goffer, a former securities trader known as "Octopussy" because of his many sources of information, was sentenced to 10 years in prison on Wednesday for insider trading. Full Story Top Ex-Goldman employee charged with insider trading Wed,21 Sep 2011 04:45 PM PDT Reuters - WASHINGTON (Reuters) - U.S. regulators on Wednesday charged a former Goldman Sachs employee and his father with insider trading on confidential information about Goldman's exchange-traded fund strategy. Full Story Top Insiders handed four- and 10-year prison terms Wed,21 Sep 2011 04:24 PM PDT Reuters - NEW YORK (Reuters) - Two people who lost their insider trading trials earlier this year were sentenced on Wednesday to 10 and four years in prison, as the government continues its crack down on illegal trades. Full Story Top Lehman to drop appeals over Barclays sale Wed,21 Sep 2011 04:21 PM PDT Reuters - NEW YORK (Reuters) - Lehman Brothers Holdings Inc said it will drop its appeal of a bankruptcy court's ruling upholding Barclays Plc's purchase of Lehman's North American business in 2008 to avoid an unnecessary strain on its remaining assets. Full Story Top

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