16 May
New U.S.-Russian crew arrives at space station
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Breaking News- Jobless claims drop more than expected last weekWASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to resilience in the labor market despite belt-tightening by Washington. Initial claims for state unemployment benefits dropped 23,000 to a seasonally adjusted 340,000, the Labor Department said on Thursday, pushing back below the 350,000 mark that economists normally associate with a firming job market. Claims for the prior week were revised to show 3,000 more applications received than previously reported. ...
- EU wants big companies to reveal national tax billsBy John O'Donnell BRUSSELS (Reuters) - Europe's top regulatory official is seeking to force large companies to disclose how much tax they pay in each country where they operate, a measure some politicians say could curb tax avoidance. Michel Barnier, the European commissioner in charge of drafting business regulation, said in a speech in Amsterdam that rules which will force banks to report their profits, taxes and subsidies by country from 2015 should be extended to cover other companies. "We will expand these reporting obligations to large companies and groups," he said on Thursday. ...
- Fed not "that close" to winding down stimulus: BullardLONDON (Reuters) - A top U.S. central bank official sought to reassure financial markets that the Federal Reserve was not in a hurry to start winding down its economic stimulus as investors worried about comments by its chairman Ben Bernanke. James Bullard, president of the Federal Reserve Bank of St. Louis, said on Thursday he did not think the Fed was "that close" to starting the process of winding down its support. Share prices around the world fell sharply after Bernanke said on Wednesday that the U.S. central bank may start to trim its bond purchases at one of its next policy meetings. ...
- ECB seeks new tools while Fed toys with exitBy Leigh Thomas and Jason Lange PARIS/WASHINGTON (Reuters) - The European Central Bank is looking into expanding its range of policy tools, while the U.S. central bank is mulling scaling back its support measures, highlighting the contrasting fortunes between the world's two biggest economic blocs. ECB Executive Board member Peter Praet said late on Wednesday that the central bank could try new policies if needed to battle deflation risks, adding that the central bank was also weighing measures to encourage more lending in the euro zone. ...
- Warning signs for China, Fed hints at curbing stimulusBy Andy Bruce LONDON (Reuters) - Chinese factory activity shrank in May for the first time in seven months, overshadowing signs that the euro zone's downturn tempered slightly in May, business surveys showed on Thursday. World stock markets tumbled after the Chinese data and also in response to U.S. Federal Reserve Chairman Ben Bernanke, who hinted on Wednesday the Fed could soon pare back its bond-buying with new money if the economy maintains momentum. China's flash HSBC Purchasing Managers' Index (PMI) entrenched fears recovery in the world's No. ...
- Stock futures fall on stimulus plan concerns, China dataBy Chuck Mikolajczak NEW YORK (Reuters) - Stock index futures fell on Thursday, putting the S&P 500 on track for its first daily back-to-back declines in a month, amid investor concerns the U.S. Federal Reserve may begin to taper its stimulus measures and over weak data in China. The S&P 500 posted its biggest decline in three weeks on Wednesday, after minutes from the latest U.S. Federal Reserve meeting showed some officials were open to tapering large-scale asset purchases as early as at the June meeting. ...
- China factory activity shrinks for first time in seven months: flash PMIBy Aileen Wang and Koh Gui Qing BEIJING (Reuters) - China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary manufacturing survey showed, entrenching fears that its economic recovery has stalled and that a sharper cooldown may be imminent. The flash HSBC Purchasing Managers' Index (PMI) for May fell to 49.6, slipping under the 50-point level demarcating expansion from contraction for the first since October and sending Asian financial markets sharply lower. The final HSBC PMI stood at 50.4 in April. ...
- Dover to spin off some communication technologies businesses(Reuters) - U.S. industrial conglomerate Dover Corp said it will spin off some of its communication technologies businesses into a publicly traded company named Knowles Corp. The businesses make microphones, speakers, receivers and transducers, among other communication products. "Given the evolution of their unique business model, these businesses can now pursue a more aggressive growth strategy together as a standalone company," Chief Executive Robert A. Livingston said in a statement. Dover's other products include industrial pumps, oil and mining drilling tools and food packaging ...
- UK regulator fines JPMorgan 3 million poundsLONDON (Reuters) - Britain's Financial Conduct Authority (FCA) said it has fined a wealth management unit of U.S. bank JPMorgan Chase 3.08 million pounds ($4.6 million) for being unable to show it was giving clients the right advice. The FCA said on Thursday the failings were not corrected until the watchdog brought them to the bank's attention in the course of its wider review of wealth management firms in Britain. ...
- Deutsche bosses seek to win over skeptical shareholdersBy Edward Taylor FRANKFURT (Reuters) - Deutsche Bank's bosses tried to convince skeptical shareholders at a lively annual meeting on Thursday that the bank was on the right track again after facing a host of legal problems. Co-chief Executives Anshu Jain and Juergen Fitschen, who took charge nearly a year ago, are trying to steer Germany's largest bank through a major restructuring and resolve its many legal issues. They are also trying to reshape the bank in the wake of the financial crisis for an industry with lower profit margins and higher regulatory costs. ...
- Jobless claims drop more than expected last week
