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Monday, June 25, 2012

Business Today: Wall Street tumbles on European summit skepticism

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06/25/2012
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Wall Street tumbles on European summit skepticism
NEW YORK (Reuters) - Stocks fell sharply on Monday, putting the S&P 500 near break-even for June so far, as investors saw little reason to be optimistic about a European Union summit this week.
Exclusive: Dell bids $2.32 billion for Quest Software: source
(Reuters) - Quest Software Inc has received an improved bid from Dell Inc to buy the maker of enterprise management software for about $2.32 billion, a source close to the matter said on Monday.
Credit Suisse to make heavy job cuts in Europe: sources
LONDON (Reuters) - Swiss bank Credit Suisse is to cut senior staff in its European investment banking department by up to a third, three sources familiar with the matter said, as tighter regulation and weak markets hit the sector.
Microsoft to buy Yammer for $1.2 billion
SEATTLE (Reuters) - Microsoft Corp agreed to buy online social network firm Yammer Inc for $1.2 billion in cash, which will allow the software company to offer a service like Facebook Inc's to corporate customers.
And then there were five: Cyprus seeks EU aid
NICOSIA/ATHENS (Reuters) - A fifth euro zone country turned to Brussels for emergency funding on Monday when Cyprus announced it was seeking a lifeline for its banks and its budget, hours after Spain submitted a formal request to bail out its banks.
AB InBev in talks to buy Mexico's Modelo
BRUSSELS/LONDON (Reuters) - Anheuser-Busch InBev SA's interest in buying the rest of Mexico's Grupo Modelo on Monday warmed investors eager to see fresh consolidation in the global beer market.
Spain requests bank aid, awaits Moody's cut
MADRID (Reuters) - Spain formally requested European aid for its indebted banks on Monday but the lack of details rekindled investor doubts over the financial sector, hours before Moody's was expected to cut the ratings of all Spanish lenders.
Lockheed workers to vote Thursday on new contract
WASHINGTON (Reuters) - Striking workers from the Fort Worth, Texas, plant where Lockheed Martin Corp builds F-16 and F-35 fighter planes will vote on Thursday on whether to accept a tentative deal reached by a key union and management late Saturday, the union said.
"Wild West" export financing needs taming: Hochberg
WASHINGTON (Reuters) - The United States could lose exports in sectors ranging from aircraft to power equipment unless a new international pact is reached to rein in "unregulated" government export financing, the head of the U.S. Export-Import Bank said on Monday.
U.S. businesses borrow more to buy equipment in May
(Reuters) - U.S. companies borrowed more in May mainly to replace equipment, with worries about unemployment and Europe keeping many businesses hesitant to spend for new projects, the Equipment Leasing and Finance Association said on Monday.
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