Business Today: Google snafu rips tech stocks, drags Wall Street lower

	Click to View in Browser 10/18/2012 Google snafu rips tech stocks, drags Wall Street lower NEW YORK (Reuters) - Stocks fell on Thursday, with technology stocks hit hard after Google disappointed investors with earnings results that were prematurely released during the trading day. Google results miss; shares dive after premature report SAN FRANCISCO (Reuters) - Google Inc's quarterly results fell well short of Wall Street's expectations after its core advertising business slowed, stunning investors accustomed to consistently rapid growth from the Internet giant and wiping more than 9 percent off its market value. Microsoft profit falls as PC sales shrink SEATTLE (Reuters) - Microsoft Corp's fiscal first-quarter profit fell a greater-than-expected 22 percent, hurt by a dip in computer sales running its Windows operating system and the deferral of some revenue ahead of upcoming releases of its core Windows and Office products. Jobless claims hint labor market improving slowly WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits spiked last week, reversing a sharp decline in the prior week but still pointing to a labor market that is slowly healing. Goldman gives its version of angry employee's departure NEW YORK (Reuters) - Just days before publication of a book promising to expose a rampant culture of greed at Goldman Sachs Group Inc , the Wall Street company is writing its own story about the book's author. Analysis: Presidential tax plans could bruise municipal bond market (Reuters) - Tax policies proposed by the two presidential candidates may differ in several ways, but both could roil the $3.7 trillion U.S. municipal bond market, popular with wealthy investors and vital for the financing needs of states, cities and other issuers of tax-exempt debt. JPMorgan apologizes to power regulator for misleading information NEW YORK (Reuters) - JPMorgan Chase & Co apologized to the U.S. energy regulator on Thursday for providing misleading information about California electricity markets, saying it was inadvertent. GM to shift 3,000 Hewlett jobs to its payroll (Reuters) - General Motors Co will shift 3,000 Hewlett-Packard Co employees to its payroll as part of a sweeping program to overhaul the automaker's information services, GM said Thursday. Exxon seeks to quit flagship Iraq oil project LONDON/WASHINGTON (Reuters) - Exxon Mobil wants to leave its giant oilfield project in southern Iraq, diplomatic sources said, in a move likely to aggravate the country's internal tensions and hamper Baghdad's ambitious energy expansion plans. Merkel, Hollande clash on EU budget czar before summit BERLIN/BRUSSELS (Reuters) - Germany and France, Europe's two central powers, clashed over greater European Union control of national budgets and moves towards a single banking supervisor before a summit of the bloc's leaders began on Thursday. Related Video Daily Digit: M.S. comp 45% of revs Rosneft closes in on TNK-BP Economic News Jobless claims hint labor market improving slowly Top bankers urge Washington to avoid fiscal cliff A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend