Business Today: Wall Street rises on hopes for more stimulus

	Click to View in Browser 08/24/2012 Wall Street rises on hopes for more stimulus NEW YORK (Reuters) - Stocks gained on Friday on news the European Central Bank is considering setting targets in a new bond-buying program that could help contain euro-zone borrowing costs and on hopes of more stimulus from the Federal Reserve. Business spending plans hint at factory weakness WASHINGTON (Reuters) - U.S. businesses cut back on their spending plans for a second straight month in July, suggesting slower growth ahead for the factory sector. Bernanke says Fed has scope to provide more stimulus WASHINGTON (Reuters) - The Federal Reserve has room to deliver additional monetary stimulus to boost the U.S. economy, Fed Chairman Ben Bernanke told a Congressional oversight panel in a letter. ECB mulls setting target bands for bond yields: sources FRANKFURT (Reuters) - The European Central Bank is considering setting yield band targets under a new bond-buying program to allow it to keep its strategy shielded and avoid speculators trying to cash in, central bank sources told Reuters on Friday. Exclusive: RBS closing in on rate-rigging settlement - sources LONDON (Reuters) - Royal Bank of Scotland is expected to agree a settlement in the next two months with U.S. and UK authorities investigating its role in an interest-rate rigging scandal, according to industry sources, regulatory officials and lawyers familiar with the case. Merrill agrees to pay $40 million in deferred compensation suit (Reuters) - Merrill Lynch agreed on Friday to pay $40 million in a class action suit filed on behalf of about 1,400 brokers to reclaim deferred compensation the brokerage had previously refused to pay them following its merger with Bank of America. Europe's big bang for bank rules set to sputter FRANKFURT/LONDON (Reuters) - A hoped-for "big bang" start next year for new rules to make banks safer is set to sputter in Europe, creating more uncertainty in a sector struggling to win back investor confidence lost in the financial crisis. Automatic budget cuts seen driving up long-term weapons costs WASHINGTON (Reuters) - Automatic budget cuts due to take effect in January will drive up the cost of weapons systems and cut revenues for arms makers in the longer term, but the full brunt of the cuts will not be felt for several years, a top budget analyst said Friday. Fed ponders more clarity on policy framework NEW YORK/SAN FRANCISCO (Reuters) - The Federal Reserve is looking to lift the veil a bit more on how it plans to steer the U.S. economy back to health. P&G CEO's pay down 6.1 percent after tough year (Reuters) - Procter & Gamble Co Chairman and Chief Executive Officer Bob McDonald took home a little less last year after disappointing results that he is trying to reverse with a major overhaul. Related Video Record ice melt opens new sea routes Wealth Strategies: Economic Recovery? Not Good Enough! Economic News Business spending plans hint at factory weakness Fed ponders more clarity on policy framework 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