Business Today: Wall Street suffers worst loss in three weeks

	Click to View in Browser 06/21/2012 Wall Street suffers worst loss in three weeks NEW YORK (Reuters) - Stocks posted the worst day in three weeks on Thursday on mounting evidence that slowing manufacturing growth worldwide threatened corporate profits. Factory, jobs data highlight struggling recovery WASHINGTON/NEW YORK (Reuters) - U.S. manufacturing grew at its slowest pace in 11 months in June and the number of Americans filing new applications for unemployment aid fell slightly last week, further evidence the economy was weakening. Gold drops 2.5 percent after data stirs deflation fears NEW YORK (Reuters) - Gold fell 2.5 percent on Thursday, nearly wiping out this year's gains as renewed fears of a global economic slowdown and disappointment over a lack of aggressive U.S. Federal Reserve stimulus dampened bullion's inflation-hedge appeal. Exclusive: BlackRock discloses Doll's models not all his own NEW YORK (Reuters) - In January, BlackRock Inc made a significant, but easy-to-miss change in the fund literature for three of its mutual funds. Ex-Stanford exec Holt pleads guilty to obstruction HOUSTON (Reuters) - The chief investment officer of disgraced former billionaire Allen Stanford's defunct financial firm pleaded guilty on Thursday to lying to U.S. regulators in 2009 in an effort to delay their probe into a $7 billion Ponzi scheme. Moody's set for bank ratings cuts Thursday: sources LONDON/CHARLOTTE, North Carolina (Reuters) - Ratings agency Moody's is set to announce downgrades of many of the world's biggest banks later on Thursday, banking industry sources said. Analysis: Big-name profit warnings worsen earnings outlook NEW YORK (Reuters) - Weakening business activity worldwide is hitting U.S. companies where it hurts, with more of them signaling disappointing results than at any time over the past decade. AMR pilots seek more time to agree labor deal: sources (Reuters) - American Airlines' pilots union has asked for more time to consider the company's latest contract offer in hopes of avoiding a stalemate that could result in the unilateral imposition of interim work rules, according to two people close to the matter. Oil falls below $90 for first time since Dec 2010 NEW YORK (Reuters) - Brent crude oil slid nearly 4 percent in heavy trading on Thursday, dropping below $90 a barrel for the first time in 18 months as weak economic data from China, the United States and Europe pointed to prospects for slower oil demand. Goldman Sachs recommends shorting U.S. stocks NEW YORK (Reuters) - Goldman Sachs recommended shorting the S&P 500 index with a target level of 1,285 on Thursday, saying the latest U.S. data suggests that weakness in the economy has extended into June. Related Video Euro zone activity shrinks again Breakingviews: Chesapeake chairman may not take root Economic News Factory, jobs data highlight struggling recovery Fed ramps up economic stimulus, ready to do more 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