- Stock index futures signal slight bounce
 PARIS (Reuters) - U.S. stock index futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 up 0.25 percent, Dow Jones futures up 0.25 percent and Nasdaq 100 futures up 0.29 percent at 4:09 a.m. EDT. European stocks were down 0.4 percent in morning trade while the euro hovered near four-month lows as investors shunned risky assets, rattled by Greece's escalating crisis and fears of contagion to other stressed euro zone economies. ...
- JPMorgan's future losses at the mercy of an obscure index
 (Reuters) - It's the biggest parlor game on Wall Street: Estimating how large JPMorgan Chase & Co's trading loss will be from a hedging strategy that went wrong. The biggest U.S. bank by assets has already disclosed $2 billion of paper losses, and Chief Executive Jamie Dimon said it could lose another $1 billion or more. The losses will grow, some traders say, because it appears JPMorgan has only sold a small portion of its position, leaving it vulnerable to price swings in a thinly traded market. Others are not so sure the bank will suffer much more than it already has. ...
- HSBC turnaround on target, sees revenue boost
 HONG KONG (Reuters) - HSBC doubled the annual revenue boost expected from its turnaround plan to $2 billion, as Europe's biggest bank targets emerging markets and cost cuts to lead its battle to recover from the financial crisis and cope with new regulations. Chief executive Stuart Gulliver said on Thursday that, one year into the three-year plan, HSBC was on target to meet profitability and cost savings targets. Gulliver said his biggest external worry "is absolutely how the euro zone plays out and whether Greece stays in ... ...
- Obama wants tough rules after JPMorgan loss: report
 WASHINGTON (Reuters) - The White House, following a trading loss of more than $2 billion by JPMorgan, wants to ensure a tough interpretation of a regulation aimed at preventing banks from making bets with their own money, The Wall Street Journal reported on Wednesday. Citing people familiar with the matter, the report said White House officials have stepped up talks with the Treasury Department in the several days since the staggering loss was disclosed by the bank. The discussions, according to the report, represent the first tangible political impact from the trading debacle. ...
- GM chooses UK plant over Germany for new Astra
LONDON (Reuters) - General Motors Co will build the next generation of its Astra compact in Britain after workers at its factory in Ellesmere Port, northwest England, overwhelmingly agreed to a new labor deal, leaving its plant in Bochum, Germany in danger of closure. The U.S. carmaker said on Thursday it would invest 125 million pounds ($199 million) in the Ellesmere Port plant, where assembly of the new vehicle will start in 2015. ...
- Spanish recession bites, may be prolonged
 MADRID (Reuters) - Spain officially slipped in to recession in the first quarter, final figures confirmed on Thursday, leaving the country threatened with a prolonged slump as the turmoil-wracked euro zone struggles to balance austerity with growth. In the first quarter, the economy shrank 0.3 percent in the compared with the last quarter of 2011, and was down 0.4 percent year on year, the National Statistics Institute said on Thursday, its sharpest annual fall since the first quarter of 2010. ...
- Bank of Tokyo-Mitsubishi freezes Iran transactions
TOKYO (Reuters) - Bank of Tokyo-Mitsubishi UFJ, which handles most of Japan's payments for oil imports from Iran, said on Thursday it had frozen transactions with Iranian banks after being ordered to do so by the New York District Court earlier this month. The head of the Japan's banking lobby group said the action could affect crude imports, although the country's biggest refiner said it was not facing a problem paying for Iranian oil. The move stems from a U.S. court decision in 2007 that ordered Iran to pay more than $2. ...
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