Business Today: Wall Street falls as EU crisis back in spotlight

	Click to View in Browser 07/20/2012 Wall Street falls as EU crisis back in spotlight NEW YORK (Reuters) - U.S. stocks fell on Friday as Europe's debt crisis flared up again on fears Spain may eventually need a bailout, prompting traders to cash in three days of gains. GE second quarter profit tops Wall Street view (Reuters) - General Electric Co on Friday reported a 2.5 percent rise in profit from continuing operations, topping Wall Street expectations, as solid demand in the United States and emerging markets offset weakness in Europe. Indebted Valencia asks Spain government for help, markets jolted MADRID (Reuters) - Spain's heavily indebted eastern region of Valencia said on Friday it would need financial help from Madrid, spooking financial markets and complicating central government efforts to stave off a full-blown sovereign bailout. AMR flight attendants to vote on labor contract NEW YORK (Reuters) - Leaders of American Airlines' flight attendants' union will let its members vote on the company's latest contract offer, possibly heading off a threat by the carrier to abandon current labor deals and impose stricter terms unilaterally. Exclusive: Labor Dept looking into JPMorgan stable value fund NEW YORK (Reuters) - The U.S. Department of Labor is looking into whether JPMorgan Chase & Co violated its fiduciary duty under the Employee Retirement Income Security Act in connection with one of its stable value funds. UK central bank clashes with bank panel over Libor LONDON (Reuters) - The Bank of England missed a chance to help reform Libor in 2008, the banking group responsible for the scandal-struck interest rate said on Friday, crossing swords with Britain's powerful central bank. Unusual price action in four stocks may be due to automated hedge (Reuters) - A mysterious trading pattern noticed on Thursday in the shares of four blue-chip stocks was likely an experiment in the automated hedging of large options positions, an analyst at JPMorgan said. Former Bank of America executive indicted in bid-rigging case CHARLOTTE, North Carolina (Reuters) - A former Bank of America Corp executive was indicted for his role in a wide-ranging scheme to fraudulently rig the bidding on contracts that state and local governments use to invest municipal bond proceeds, the U.S. Justice Department announced on Friday. Nasdaq to unveil Facebook compensation plan next week: report NEW YORK (Reuters) - Nasdaq OMX Group Inc plans next week to release its compensation plan for firms that lost money in the bungled Facebook initial public offering, the FOX Business channel reported on Friday. Duke director grew wary of "controlling" ex-Progress CEO RALEIGH, North Carolina (Reuters) - Duke Energy's board grew frustrated with then-Progress Energy Chief Executive William Johnson's lack of transparency about a troubled nuclear power plant in the months before their merger closed, Duke's lead director said on Friday. Related Video Skull scanner the latest tool for ID-ing the dead Breakingviews: Banks reveal M&A sorcery Economic News Factory, jobs data show economy mired in weakness U.S. crops bake in searing heat, no relief for weeks 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