U.S. stocks opened lower, following the lead of Asian stocks markets which plummeted in Wednesday trade. BB&T Bank (BBT) has gotten regulatory approval for its purchase of Susquehanna Bank in a $2.5 billion deal. Barclays Bank fired its CEO Anthony Jenkins over a dispute between him and board over cost cutting and profitability plans. Ingredion (INGR) will buy privately held Kerr Concentrates in a $100 million deal. Mortgage Applications regained last week almost exactly what it lost in the previous week. the Mortgage Bankers Association says total applications rose 4.6% on a seasonally adjusted basis for the week that ended Friday, which included an adjustment for the Independence Day holiday. United Continental (UAL) has grounded all U.S. flights due to what the FAA calls a 'computer malfunction.'
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