Business Today: Wall Street declines ahead of earnings season

	Click to View in Browser 10/8/2012 Wall Street declines ahead of earnings season NEW YORK (Reuters) - Stocks slipped in light trading on Monday, pulling back from recent five-year highs ahead of an earnings season expected to be weak. U.S. lawmakers seek to block China Huawei, ZTE U.S. inroads WASHINGTON (Reuters) - U.S. telecommunications operators should not do business with China's top network equipment makers because potential Chinese state influence on the companies poses a security threat, the U.S. House of Representatives Intelligence Committee said in a report on Monday. Facebook pitches new $20 million "Sponsored Stories" settlement (Reuters) - Facebook Inc has proposed a revised $20 million settlement in a class action lawsuit accusing it of violating the rights of users through its "Sponsored Stories" advertising feature after a U.S. judge rejected an earlier accord. UnitedHealth to buy most of Brazil's Amil for $4.9 billion NEW YORK (Reuters) - UnitedHealth Group Inc will buy control of Amil Participacoes SA, Brazil's largest health insurer and hospital operator, for $4.9 billion, making a bold move into a fast-growing market as challenges mount for its U.S. business. Wal-Mart, Amex offer card for lower-income shoppers NEW YORK (Reuters) - Wal-Mart Stores Inc and American Express Co are teaming up to offer a prepaid debit card called Bluebird to target lower-income shoppers who do not have bank accounts. Marathon to buy BP Texas City refinery for up to $2.5 billion HOUSTON (Reuters) - Marathon Petroleum Corp struck a deal to buy BP Plc's Texas City refinery and related infrastructure for up to $2.5 billion, a purchase that will make Marathon the fourth-largest U.S. refiner and give it a bigger potential slice of the market for refined product exports. Lockheed to split electronic systems business in two WASHINGTON (Reuters) - The largest U.S. weapons maker, Lockheed Martin Corp , said it plans to split its electronic systems business into two separate operations focused on missiles and training, a move it said would save $50 million and eliminate 200 jobs. UBS's revamp efforts hampered by internal strife: sources ZURICH (Reuters) - Rifts among top UBS managers are hampering Chief Executive Sergio Ermotti's efforts to make big cutbacks, especially in investment banking, according to senior sources both inside and close to the bank. Britain raises pressure over EADS-BAE merger LONDON/PARIS (Reuters) - Britain turned up the volume in a dispute over French state involvement in any tie-up of aerospace groups EADS and BAE Systems on Monday, leaving the European mega-merger on a knife-edge less than 48 hours before a deadline for the deal. Euro zone launches bailout fund, says Spain doesn't need help LUXEMBOURG (Reuters) - Euro zone finance ministers launched their permanent 500 billion euro bailout fund on Monday but said Spain, the country widely expected to be first to draw on it, was taking steps to overhaul its economy and did not need a bailout for now. Related Video Crisis-hit Italians cut down on coffee Breakingviews: Brentibor Economic News U.S. jobless rate tumbles to near four-year low U.S. deficit ends fourth fiscal year above $1 trillion: CBO 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