NEW YORK (TheStreet) -- Here are 10 things you should know for Thursday, Aug. 7:
1. -- U.S. stock futures were rising Thursday ahead of a meeting of the European Central Bank while investors kept a wary eye on tensions between Russia and Ukraine.
Russia on Thursday banned most food imports from the West in retaliation for sanctions over Ukraine.
European stocks fell as investors digested weaker-than-expected German industrial production and another spate of corporate earnings.
Asian shares ended mixed.
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2. -- The economic calendar in the U.S. on Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, and consumer credit for June at 3 p.m.
The Dow Jones Industrial Average rose 0.08% to 16,443.34. The S&P 500 finished flat at 1,920.24. The Nasdaq gained 0.05% to 4,355.05. 4. -- Bank of America (BAC - Get Report) and the Justice Department are finalizing a deal in which the bank will pay $16 billion to $17 billion to resolve allegations of mortgage-related misconduct in the run-up to the financial crisis, The Wall Street Journal reported, citing people familiar with the matter. The bank has agreed to pay roughly $9 billion in cash to the federal government, states and other government entities, the people told the Journal, as part of an overall pact that could be completed this month. Additional money would be aimed at consumer relief, such as reducing mortgage balances for struggling homeowners. If finalized, the agreement would set a record for fines and damages in a civil settlement between the U.S. government and a company, the Journal noted. It would top the $13 billion deal struck between the Justice Department and JPMorgan Chase (JPM). Read More: Rupert Murdoch Rebuffed as Fox Withdraws Bid for Time Warner 5. -- 21st Century Fox (FOXA - Get Report) reported on Wednesday better-than-expected fiscal fourth-quarter earnings a day after it called off its pursuit of rival media giant Time Warner (TWX).
Fox executives said the company wouldn't try to buy any other big content companies.
Chief Operating Officer Chase Carey said on a conference call with analysts that "we have no plans to pursue any other third-party content company as an alternative to Time Warner." 6. -- Google (GOOG) will reward Web sites that are more secure, giving bonus points in its ranking algorithm to Web pages that are encrypted.
Google hopes the move will prod Web site developers to adopt technology that protects against hackers breaking into their Web sites and stealing users' information, the Journal reported. "We hope to see more websites using HTTPS in the future," Google said in a blog post. The move is among the latest steps Google has taken to make the Web more secure, efforts it has accelerated in the wake of disclosures about Internet snooping by the National Security Agency, according to the Journal.
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