Business Today: Stock futures hold losses after ADP data

		Click to View in Browser 06/5/2013 Stock futures hold losses after ADP data NEW YORK (Reuters) - Stock futures held losses following data that showed private sector employment rose less than expected in May. Private sector adds 135,000 jobs in May: ADP NEW YORK (Reuters) - Companies picked up the pace of hiring in May, though job growth remained sluggish and fell short of economists' expectations as the goods-producing sector shed payrolls. Unit labor costs fall at quickest pace in four years WASHINGTON (Reuters) - A gauge of labor-related costs fell in the first quarter by the most in four years, although the reading appeared to be distorted by a shift in employee compensation during the prior period to avoid a tax hike. Japan's Abe targets income gains in growth strategy TOKYO (Reuters) - Prime Minister Shinzo Abe pledged to raise incomes by 3 percent annually and set up special economic zones to attract foreign businesses in the third tranche of measures aimed at boosting growth in the world's third-biggest economy. Euro zone GDP contraction slows in first quarter, April retail sales worse than forecast BRUSSELS (Reuters) - The pace of the euro zone's economic contraction slowed quarter-on-quarter in the first three months of this year, EU statistics showed on Wednesday, but retail sales in April pointed to continued weakness in household demand. Treasury to sell more GM shares to wind down remaining stake WASHINGTON (Reuters) - The Treasury Department on Wednesday said it will begin another round of sales of the General Motors Co stock it acquired during the government's bailout of the U.S. auto sector. Analysis: As Facebook grows up, grand ambitions get reality check SAN FRANCISCO (Reuters) - Facebook, which once seemed poised to take over the Internet, is showing its limitations: a host of newer services are gaining ground among trend-setting youth; a much-hyped smartphone app has received a tepid response; and grand ambitions such as taking on Google in the search business seem ever more fanciful. China ready to start deposit insurance system: cenbank report BEIJING (Reuters) - Conditions are ripe for China to launch a long-awaited deposit insurance system after a consensus was reached within the government, according to the central bank's 2013 financial stability report, sources with knowledge of the report's contents said on Wednesday. Fiat and Chrysler to refinance loans before deal LONDON (Reuters) - Fiat has launched the first part of a three-stage multibillion-euro financing package, seeking to refinance loans taken out by Fiat and Chrysler before the Italian group's looming purchase of the rest of the U.S. carmaker, bankers said. Toyota says will recall 242,000 hybrids for brake design flaw TOKYO (Reuters) - Toyota Motor Corp is recalling about 242,000 gas-electric hybrid vehicles worldwide, including the bestselling Prius model, due to a brake design flaw, the automaker said on Wednesday. Related Video U.S. Morning Call: Some Apple products could be banned in US Market Pulse: UK firing on "all cylinders" but stocks slump Economic News Private sector adds 135,000 jobs in May: ADP Unit labor costs fall at quickest pace in four years 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