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Thursday, May 30, 2013

Business Today: First quarter GDP revised slightly lower; austerity bites

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05/30/2013
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
First quarter GDP revised slightly lower; austerity bites
WASHINGTON (Reuters) - A drop in government spending dragged more on the economy than initially thought in the first three months of the year, a sign of increasing pain from Washington's austerity drive.
Jobless claims unexpectedly rise, but still within 2013 range
WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but not enough to suggest a shift in the recent pattern of modest job gains.
EU's Kroes makes appeal for last-ditch telco overhaul
BRUSSELS (Reuters) - Europe's top telecom regulator called for an end to mobile roaming fees and equal access to the Internet in a speech at the European Parliament on Thursday, as she sought backing for reforms to create one market for telecom services in the region.
Exclusive: Europe plans major scaling back of financial trading tax
BRUSSELS (Reuters) - European countries plan to scale back a proposed financial transactions tax drastically, initially imposing a tiny charge on share deals only and taking much longer than originally intended to achieve a full roll-out.
RBC profit rises 26 percent on stronger lending
TORONTO (Reuters) - Royal Bank of Canada said on Thursday that its quarterly profit rose 26 percent on stronger lending volumes and lower loan-loss provisions.
Futures trim gains after GDP, claims data
NEW YORK (Reuters) - Stock index futures slightly trimmed gains after data showed first quarter gross domestic product was revised lower and initial jobless claims rose more than expected.
Exclusive: Japan public pension mulls shift after stock rally - sources
TOKYO (Reuters) - Japan's public pension fund - a pool of over $1 trillion - is considering a change to its portfolio strategy that could allow its investment in domestic stocks to grow with a rallying market, according to people familiar with the deliberations.
Singapore Airlines orders aircraft worth $17 billion from Airbus and Boeing
SINGAPORE (Reuters) - Singapore Airlines has ordered 30 Airbus and 30 Boeing aircraft in a deal valued at more than $17 billion, among the biggest in the airline's history.
EMC raises stock buyback plan to $6 billion, starts dividend
(Reuters) - EMC Corp increased its share buyback program to $6 billion from $1 billion by end-2015 and said it would start paying out a quarterly cash dividend of 10 cents per share.
Crisis states lead way as euro zone's economic mood brightens
BRUSSELS (Reuters) - Confidence in the euro zone economy grew by more than expected in May, with hope that the worst of the crisis may be over spreading to countries that have been on its frontline.
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First quarter GDP revised slightly lower; austerity bites
Jobless claims unexpectedly rise, but still within 2013 range
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