Business Today: Producer prices record largest gain in 1-1/2 years

		Click to View in Browser 05/14/2014 Producer prices record largest gain in 1-1/2 years WASHINGTON (Reuters) - U.S. producer prices posted their largest increase in 1-1/2 years in April as the cost of food and trade services surged, hinting at some inflation pressures at the factory gate. Stock futures point to lower open; Dow, S&P off closing highs NEW YORK (Reuters) - U.S. stock index futures pointed to a lower open on Wednesday as investors found few reasons to keep pushing shares higher with the Dow and S&P 500 both coming off record closing highs. Chinese police charge British former GSK China head with bribery BEIJING/SHANGHAI (Reuters) - Chinese police on Wednesday said they had charged the British former China head of drugmaker GlaxoSmithKline PLC and other colleagues with corruption, after a probe found the firm made billions of yuan from elaborate schemes to bribe doctors and hospitals. Pfizer pledges to ringfence key new drugs in AstraZeneca deal LONDON (Reuters) - Pfizer said it would ringfence the development of important drugs if it acquired AstraZeneca , rejecting a charge from the British company that a takeover would disrupt important research and put lives at risk. Exclusive: ECB readies package of rate cuts and targeted measures FRANKFURT (Reuters) - The European Central Bank is preparing a package of policy options for its June meeting, including cuts in all its interest rates and targeted measures aimed at boosting lending to small- and mid-sized firms (SMEs). Macy's sticks to 2014 forecast as sales pick up after hard winter (Reuters) - Department store operator Macy's Inc said business was picking up after severe winter weather resulted in weaker-than-expected sales in the first quarter, allowing the company to stick to its full-year profit forecast. Sony vows deeper restructuring, warns of another loss this year TOKYO (Reuters) - Sony Corp said it would step up a broad restructuring this year to tackle bloated costs and exit some unprofitable businesses, hoping to put behind it years of persistent losses. Exclusive: Regulators scrutinize financial risk-modeling firms WASHINGTON (Reuters) - U.S. government officials recently proposed creating scorecards to measure the potential threat posed by firms that offer risk models, amid concerns that large financial institutions may be too dependent on the same products, according to documents reviewed by Reuters. Sears Holdings says could sell its majority stake in Sears Canada (Reuters) - Sears Holdings Corp said it was looking to sell its 51 percent stake in Sears Canada Inc in a process that could result in all of the struggling Canadian department store operator being put up for sale. From Russia with concern: Cisco's audits raised red flags about resellers NEW YORK/WASHINGTON (Reuters) - In a series of audits in 2009, Cisco Systems Inc found that much of the business between resellers of its products and a Russian state-owned telecommunications company, Svyazinvest, could not be verified because it was either "misrepresented" or documents were withheld by the resellers, according to an executive summary of the audits reviewed by Reuters. Related Video Fast-track vaccine shows promise against deadly MERS Allianz's biggest uncertainty is the euro, not Pimco - CFO Economic News Producer prices record largest gain in 1-1/2 years China growth target vulnerable as economy's momentum fades 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