U.S. futures point to lower open amid dearth of incentives
NEW YORK (Reuters) – U.S. stock index futures pointed to a lower open on Wednesday, as investors struggled to find reasons to keep buying with indexes still hovering near record levels.
China ramps up spending to spur economy, central bank sees stable policy
BEIJING (Reuters) – China’s central bank said on Wednesday it will keep monetary policy steady in 2014, even as the finance ministry said fiscal spending had surged nearly 25 percent in May from a year earlier, highlighting government efforts to energi…
EU to launch probe into Apple’s Irish tax deal: report
DUBLIN (Reuters) – The European Commission will launch a formal investigation on Wednesday into Apple Inc’s tax arrangements in Ireland, Irish state broadcaster RTE reported, without naming its source.
Alibaba to buy out UCWeb in China’s biggest internet merger
BEIJING (Reuters) – Alibaba Group Holding Ltd [IPO-ALIB.N] will fully acquire mobile browser firm UCWeb in the biggest merger in Chinese internet history, upping the stakes in its battle with arch-rivals Tencent and Baidu.
Zara owner Inditex and H&M report strong sales growth
MADRID (Reuters) – The world’s two top fashion retailers Zara owner Inditex and Hennes & Mauritz reported strong sales growth on Wednesday, benefiting from a recovery in consumer spending in their core markets in Europe.
ECB may buy ‘simple and transparent’ ABS, says Mersch
BARCELONA (Reuters) – The European Central Bank may buy “simple and transparent” asset-backed securities (ABS) to help achieve its target of delivering price stability to the euro zone, ECB Executive Board member Yves Mersch said on Wednesday.
BofA’s mortgage settlement in deadlock: NYT
(Reuters) – Bank of America Corp and the U.S. Department of Justice (DOJ) have reached an impasse in negotiating a multibillion-dollar settlement related to the bank’s mortgage investments, the New York Times reported citing people briefed on the matte…
Gazprom moves gas prepayment deadline for Ukraine to June 16
MOSCOW (Reuters) – Russia’s Gazprom has moved a deadline for Ukraine to start paying in advance for natural gas supplies to next Monday, as EU-brokered talks continue over the price, the gas company’s chief executive told Russian media.
Ukraine holds out for bigger gas price cut from Russia
KIEV (Reuters) – Ukraine said on Wednesday it had rejected a Russian proposal that would reduce the price it pays Moscow for natural gas by more than 20 percent and ruled out paying its gas debts until a pricing deal is reached.
Euro under a cloud in Asia, stocks sit on gains
SYDNEY (Reuters) – The euro came under mounting pressure on Wednesday as the European Central Bank’s embrace of negative interest rates encouraged flows out of the zone, while Asian shares consolidated near recent highs.
