Business Today: Stock futures edge up after selloff; Yellen testimony on tap

		Click to View in Browser 05/7/2014 Stock futures edge up after selloff; Yellen testimony on tap NEW YORK (Reuters) - U.S. stock index futures edged up on Wednesday, following the biggest drop in the S&P 500 since mid-April, as earnings season began to wind down and ahead of congressional testimony from Federal Reserve Chair Janet Yellen. Bad weather sinks U.S. first-quarter productivity WASHINGTON (Reuters) - U.S. nonfarm productivity fell at its fastest pace in a year in the first quarter as severe weather took its toll, leading to the largest gain in unit labor costs in more than a year. Alibaba files for what may be biggest tech IPO SAN FRANCISCO (Reuters) - Alibaba gave investors a closer look at the scale and growth of the Chinese e-commerce juggernaut in an initial public offering (IPO) prospectus filed on Tuesday, the first step in what could be the largest technology debut in history. AstraZeneca takeover would benefit science: Pfizer LONDON (Reuters) - Pfizer sought to allay fears that its proposed $106 billion takeover of AstraZeneca would deal a blow to drug research, saying the new company would bolster innovative science and speed the development of new treatments. Chesapeake first-quarter profit surges on pricing (Reuters) - Chesapeake Energy Corp , the second largest U.S. producer of natural gas, reported a sharply higher quarterly profit on Wednesday that topped expectations, helped by a 53 percent increase in gas prices. Humana sees 2014 Medicare Advantage growth, exchange sales surge (Reuters) - Managed care company Humana Inc said on Wednesday that it expects growth in Medicare Advantage plans in 2014 despite government cuts to funding and said its will add hundreds of thousands of new customers in Obamacare plans. HSBC says April activity muted after first-quarter profit drop LONDON (Reuters) - HSBC's first-quarter pretax profit fell 20 percent from a year ago to just under $7 billion, as revenue dropped in Brazil and at its investment bank, while last year's earnings were swelled by asset sales. Airbus reshuffles large American Airlines jet order PARIS (Reuters) - Airbus took 78 orders in April but remained behind Boeing in the battle for new business after a relatively quiet month dominated by the reshuffling of existing orders, data released by the European planemaker showed on Wednesday. Japan's Abe sees free-trade deal with EU agreed next year BRUSSELS (Reuters) - The European Union and Japan have agreed to try to wrap-up free-trade negotiations next year, Prime Minister Shinzo Abe said on Wednesday, following an EU-Japan summit in Brussels. Washington delays big banks from writing wills before a collapse WASHINGTON (Reuters) - Almost six years after Lehman Brothers collapsed, U.S. regulators still haven't given Wall Street banks individual feedback on how to improve so-called "living wills" that detail how to go bankrupt without spending taxpayer dollars or causing a market panic. Related Video OECD Forum: TPP closure gains momentum - US Trade Rep Froman Ukraine crisis? Business as usual for us – Henkel CEO Economic News Bad weather sinks U.S. first-quarter productivity Stein sees 'bumps' in markets as Fed gets less precise on policy plan 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