Business Today: With jobless, services data due, futures edge up

Click to View in Browser 05/3/2012 With jobless, services data due, futures edge up NEW YORK (Reuters) - Stock index futures edged higher on Thursday ahead of data on the labor market and services sector as investors search for insight on the health of the domestic recovery. Jobless claims tumble, may calm job market fears WASHINGTON (Reuters) - New claims for unemployment benefits fell more than expected last week, according to a government report on Thursday that could ease fears the labor market recovery was stalling. U.S. productivity drops in Q1, hours rise strongly WASHINGTON (Reuters) - Nonfarm productivity fell in the first quarter as companies hired more workers to maintain output, but a moderate rise in wages suggested little pressure on company profits and inflation. US Airways says April unit revenue rose 9 percent (Reuters) - US Airways Group Inc said on Thursday that its unit revenue had increased about 9 percent in April from a year earlier amid higher passenger traffic. Apparel sales stay strong in April (Reuters) - Several clothing retailers, including Limited Brands Inc and Zumiez Inc , posted better-than-expected sales in April, helping to allay fears that March's strength came from an earlier Easter and a warm start to the spring season. GM Q1 profit beats Street on strong U.S. demand DETROIT (Reuters) - General Motors Co reported a first-quarter profit that surpassed forecasts as it was able to boost vehicle prices, especially in North America, and cut losses in its troubled European operations. China fuels record profits at German luxury carmakers FRANKFURT (Reuters) - Surging Chinese demand for sporty sedans and SUVs like the BMW 7 Series and Porsche Cayenne helped propel the two German luxury carmakers to record first-quarter profits, underscoring their growing dependence on Asian customers. ECB holds rates, resisting calls for crisis action BARCELONA, Spain (Reuters) - The European Central Bank held interest rates at 1.0 percent on Thursday and will resist calls to do more to fight the euro zone crisis, putting the onus on governments to foster growth and head off anger over austerity policies. China willing to reform export credit system: U.S. official BEIJING (Reuters) - China is willing to reform its export-credit financing, a senior U.S. official said on Thursday, a move that can help level the playing field between Chinese exporters and companies in other countries. SocGen's booming fixed income brightens profit hit PARIS (Reuters) - French bank Societe Generale posted a surprise surge in first-quarter bond, currency and commodities revenue on Thursday, boosting confidence in its business model even as profits suffered from the drive to strengthen capital. Related Video Chen drama won't upset Sino-American apple cart Competition costs Afghan boot maker Economic News Private-sector hiring slows in April, stirs concern Jobs growth seen rebounding in April A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend