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U.S. Morning Call: BoE cuts forecast; Standard Chartered gets ammo

Wednesday, August 08, 2012 - 02:48

Aug. 8 - The Bank of England slashes its growth outlook but gives no indication that it will push for further stimulus.

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Became speaks the markets react here's your morning call for Wednesday. US stock futures point to a lower open this morning after Bank of England Governor Mervyn King cut forecasts for growth and Britain's economy. Intimidation may have taken a bigger hit than thought from the European debt crisis. This breaks away from previous Bank of England forecast which you usually shown strong rebounds in growth even after short term weakness despite the gloom and doom can did not -- it signal an urgency to -- warm -- her stimulus into the economy. European stocks down in reaction to the news. Meanwhile in the US Knight capital gaining back some of its value in premarket trading after the New York Stock Exchange said late Tuesday. It would reinstate the firm to its mobile market making duties as next week. Reuters exclusively reports that the Fed and the Treasury Department where blind sided by the New York banking regulators stunning decision to charge standard chartered. The alleged money laundering of 250 billion transactions -- I ran. Developed nations officials were given virtually no notice of them is an action may provide ammunition. For the London based bank to portray allegations as coming from my relatively new overzealous regulator. The threat to revoke the banking license wiped out around eighteen billion off the bank's market cap. The selloff may have -- standard chartered a top -- up over 7% London trading today -- back some of the losses. Stocks to watch let's start with -- Disney and chanting quarterly report earnings rose three point 1% lifted by higher spending and theme parks and its blockbuster movie the adventures. Moving on to McDonald's will find out later today economic blows big into the burger chain which reports sales for July. Also on our radar earnings -- Macy's. Investors looking to see the retailer will change its forecast for the rest a year after sales topped expectations in July. Later today look for results from Ralph Lauren News Corp. pilot Carlyle group and DISH Network. Best -- founder Richard -- trying his best to make best buy an even better by. The Wall Street Journal reports the clunky retailer may soon be getting a facelift. Involving more competitive pricing against Amazon.com. And quote as good customer service and apple. The company is already planning to cut 800 million in costs and close fifteen big box stores by the end 25 team Shell's plan will be pivotal as it tries to gather support from the board -- -- investors. Break ten billion dollar buy out plan. That's -- morning called this Wednesday you can follow us on Twitter at Reuters Insider and -- out of -- -- YouTube channel at Reuters dot com slash Reuters TV. I'm Lisa Bernhard this is Reuters.

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U.S. Morning Call: BoE cuts forecast; Standard Chartered gets ammo

Wednesday, August 08, 2012 - 02:48