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U.S. Morning Call: Exclusive-Big banks got tall order

Friday, August 10, 2012 - 03:23

Aug 10 - U.S. regulators directed five of the country's biggest banks to develop plans for staving off collapse if they faced serious problems.

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Thanks a native of backup plan -- Manchester United IPO looking for a big score here's your morning call for Friday. -- Reuters exclusive uncovered that US regulators warned five big banks to develop a plan B for staving off collapse. Emphasizing that getting help from Uncle Sam would not be an option. The Fed and the comptroller's office first asked Bank of America. Goldman Sachs Citigroup Morgan Stanley and JPMorgan. To come up with these recovery plans in May twenty tan. They tell the banks to consider selling off businesses reducing risk and finding others thought sources of funding if regular barring markets shut them out. Shares of Bank of America and JPMorgan down slightly in premarket. Google slides over 22 point five million dollars to apple. Settling FTC probe which alleges that Google essentially played around with the privacy settings and Apple's safari users. This is the largest penalty ever placed on the company for violating an FTC order. But the find is simply a drop in the bucket compared to Google second quarter revenue of twelve point 21 billion dollars. Shares of Google trading down a dollar at 641 in the market apple trading at 620. Dollars in the premarket today. US stock futures are pointing to a lower open today reacting to more -- data from China. The country's July exports rose just 1% from a year earlier missing forecasts by big margins. The stats reflect faltering demand from China's two biggest foreign customers EU and US. And due out later today the USDA's crop report. Commodities traders are bracing for the worst that drought is expected to have drastically -- this year's harvest corn and soybean crops and no yellow or red cards for Manchester United today to prepare to kick off its first day of trading. Shares in the soccer giants IPO priced at fourteen dollars a few buckshot at the sixteen to two dollar price range its owners were hoping for. The lower price means the red devils will now raise around 234. Million from the sale of its sixteen point seven million shares. Mark priest -- ETX capital says to expect the stock to war at the open. Government summer pulled this. -- expression that sort of ten dollars and was it was a reasonable progress served. -- homeowners facing our great things and Osaka October another photographer's personal thereof so much is not tonight. Some stocks to watch today first up Chesapeake can't seem to catch a break. The US government is now investigating energy company over possible antitrust violations related to few properties in Michigan. Every penny counts it JC Penney this morning. Stock on two hours and premarket after the department store chain reported a 21 point 7% decline in Q2 sales. The second straight quarter of major losses since changing it's pricing strategy. Also keep an -- and shares of Yahoo! CEO Marissa Mayer announcing late yesterday that Yahoo! may reconsider how we use the cash from the sale of its 40% stake in Alley baba. -- morning call this Friday you can follow us on Twitter at Reuters Insider and check pattern Reuters YouTube channel at Reuters dot com slash Reuters TV. I'm Lisa Bernhard this is Reuters.

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U.S. Morning Call: Exclusive-Big banks got tall order

Friday, August 10, 2012 - 03:23