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US-BUSINESS Summary

Sep 5, 2011, 11:59 p.m.

Stock futures down 2 percent, following Europe selloff

NEW YORK (Reuters) - Stock futures tumbled more than 2 percent on Monday in electronic trading, hit hard after European markets slumped on renewed fears the euro zone's sovereign debt crisis is worsening. European stocks fell 4 percent on Monday, with financial shares falling to their lowest in more than 2 years. Wall Street was closed on Monday for a holiday.

Asian stocks slide again amid euro zone worries

SINGAPORE (Reuters) - Asian shares fell and U.S. Treasury yields dropped to the lowest levels in at least 60 years on Tuesday on fears that Europe's sovereign debt troubles are worsening and could trigger a second full-blown banking crisis. The market jitters pushed the euro lower and European stocks appear set to slide further as S&P 500 futures slid 2.7 percent, pointing to sharp losses on Wall Street as it catches up to European and Asian markets after a holiday on Monday.

U.S. banks offered deal over lawsuits: report

LONDON (Reuters) - Big U.S. banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that may limit their legal liabilities in return for a multibillion-dollar payment, the Financial Times reported on Tuesday. The talks aim to settle allegations that banks including Bank of America , JPMorgan Chase , Wells Fargo , Citigroup and Ally Financial , seized the homes of delinquent borrowers and broke state laws by employing so-called "robosigners," workers who signed off on foreclosure documents en masse without reviewing the paperwork.

China growth may slide below 9 percent in 2012: FX regulator

BEIJING (Reuters) - China's economic growth in 2012 may drop below 9 percent for the first time in a decade, a senior Chinese foreign exchange official said on Tuesday, underlining the gloom in Beijing over the deteriorating health of the global economy. Still, Huang Guobo, the chief economist at China's currency regulator, the State Administration of Foreign Exchange, told a forum that policy would remain focused on controlling inflation in coming months.

Dell, Baidu team up for tablets and mobiles

SHANGHAI (Reuters) - Dell Inc is partnering China's top search engine Baidu Inc to develop tablet computers and mobile phones, targeting the Chinese market now dominated by Apple Inc and Lenovo <0992.HK> devices. China is one of the fastest growing markets for tablets and is home to more than 900 million mobile phone subscribers. Analysts said the tie-up could be Dell's way to revive its flagging tablet business.

Swiss to deliver some bank data over tax row: report

ZURICH (Reuters) - Switzerland is set to partially meet a U.S. ultimatum and deliver an estimate of the amount of assets held by U.S. residents in secret accounts at Swiss banks, possibly up to $30 billion, a newspaper reported on Tuesday. Citing unnamed sources, the TagesAnzeiger reported that Switzerland would hand over on Tuesday details that the FINMA financial markets regulator has gathered from banks in recent months on accounts held by Americans with more than $50,000.

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