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Monday Morning Business Brief

August 6, 2012, 5:42 AM

Monday Morning Business Brief

Wall Street opens the day with the Dow at 13,096. It gained 217 points on Friday, for its best day since June 29. The monthly jobs report, which showed U.S. employers adding 163,000 jobs last month, gave investors something to cheer about. Futures trading suggests a slight gain at this morning's opening.

  • International stock markets rose today boosted by stronger-than-expected U.S. hiring for July following three months of weak job gains. Benchmark crude oil fell to hover above $91 a barrel. The dollar gained against the euro but fell against the yen.
  • One of the world's top soccer clubs is set to make its stock market debut this week along with the companies behind Outback Steakhouse restaurants and the Carl's Jr. and Hardee's fast-food chains. Manchester United Ltd. is slated to go public with an offering that looks to bring in $300 million. Bloomin' Brands, which operates Outback, is looking to raise $300 million in its initial public offering. CKE, which runs the two hamburger eateries, is eyeing a $200 million raise.
  • The credit rating agency Standard & Poor's says that Italy's recession will be potentially deeper and more prolonged than previously thought. As a result, the agency has affirmed the downgrading of 15 of Italy's biggest banks, and has cut the ratings on 15 more.
  • Southwest Airlines says it has begun filing refunds to customers who were accidentally billed multiple times for a single flight, after a half-price online ticket promotion backfired. The special sale designed to celebrate Southwest's reaching the three million mark in Facebook fans was supposed to give customers who booked flights on Friday a 50-percent discount on certain fares.

You can find local business news on the Back To Business page of KELOLAND.com.

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