Futures point to lower open as data disappoints
NEW YORK (Reuters) – U.S. stock index futures pointed to a lower open on Wednesday as data on the labor market came in weaker than expected, giving investors reason to sell amid few positive catalysts and with indexes near record levels.
U.S. Senate adjusts capital rules for insurers
WASHINGTON (Reuters) – The U.S. Senate has approved a bill tweaking the 2010 Dodd-Frank law’s treatment of insurers, a rare adjustment to the Wall Street reform law that had been sought by the industry.
U.S. mortgage applications fall in latest week: MBA
NEW YORK (Reuters) – Applications for U.S. home mortgages declined last week as both refinancing and purchase applications decreased, an industry group said on Wednesday.
Euro zone economy stutters as ECB gears up for action
LONDON (Reuters) – Price cuts by euro zone firms failed to prevent business growth from losing momentum in May, all but sealing the case for looser monetary policy a day before the European Central Bank meets.
Opel plans to restore profits through closer ties to General Motors
FRANKFURT (Reuters) – Loss-making car maker Opel aims to return to profit and increase its market share in Europe by focusing on smaller cars using more components from parent company General Motors , Chief Executive Karl-Thomas Neumann said.
China preparing to cancel tariffs on rare earth exports: source
BEIJING/HONG KONG (Reuters) – China is preparing to scrap controversial tariffs and quotas on the export of rare earth materials after a World Trade Organization (WTO) panel branded them discriminatory earlier this year, a source with direct knowledge …
Euro zone business growth eases in May despite firms cutting prices: PMI
London, (Reuters) – Euro zone business growth eased in May and firms cut prices for the 26th straight month, a survey showed on Wednesday, likely underpinning expectations for the European Central Bank to loosen policy on Thursday.
Bank of England reshuffle may help Carney on rates at first
LONDON (Reuters) – A shake-up of Britain’s top monetary policymakers, which started this week, caps a year of change at the Bank of England under Governor Mark Carney and might help him withstand growing pressure to raise interest rates.
Euro dips in pre-ECB jockeying, U.S. yields bolster dollar
LONDON, (Reuters) – The dollar was bobbing near a 3-1/2 month high and shares dipped for a second day on Wednesday, as the recent jump in U.S. borrowing costs weighed on markets before what is set to be an action-packed ECB meeting.
German private sector grows for 13th straight month in May: PMI
BERLIN, (Reuters) – Germany’s private sector expanded for the 13th straight month in May with services activity at its strongest in nearly three years, a survey showed, suggesting Europe’s largest economy is growing solidly.
