The Other Side of Life 24/7: Business Today: Wall Street to open modestly higher; Fed minutes on tap

Wednesday, May 21, 2014

Business Today: Wall Street to open modestly higher; Fed minutes on tap

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05/21/2014

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

Wall Street to open modestly higher; Fed minutes on tap

NEW YORK (Reuters) - Wall Street was set for a modestly higher open on Wednesday, with the S&P 500 on track to rebound from a broad selloff in the prior session ahead of the release of minutes from the most recent meeting of the U.S. Federal Reserve.

Target shows signs of turnaround as sales fall less than expected

(Reuters) - Target Corp reported a 16 percent drop in quarterly profit but showed signs of progress in its efforts to rebuild customer confidence in the wake of a massive theft of payment card data in the United States and a botched expansion into Canada.

Netflix to launch in six more European countries this year

LOS ANGELES/BRUSSELS (Reuters) - Netflix Inc will launch its online movie and TV subscription service in six more European countries including France and Germany this year, a test of its global expansion strategy as it faces a patchwork of local rules and competitors.

Lowe's May sales improve, severe winter hits first-quarter results

(Reuters) - Lowe's Cos Inc , the world's No.2 home improvement chain, said its sales picked up in May, after a severe winter in the United States hurt results in the first quarter.

BP oil spill lawsuit in U.S. wins class-action status

(Reuters) - A U.S. judge has allowed a group of BP Plc shareholders to pursue a class-action lawsuit accusing the company of misleading them by understating the severity of the 2010 Gulf of Mexico oil spill.

GM recalls 218,000 Aveo cars in U.S.: NHTSA filing

DETROIT (Reuters) - General Motors Co is recalling 218,000 older-generation Chevrolet small cars in the United States for a potential fire hazard, adding to the largest U.S. automaker's record recall total, according to U.S. safety regulators.

U.S. may seek more than $5 billion in BNP settlement: Bloomberg

(Reuters) - U.S. authorities are seeking more than $5 billion from BNP Paribas SA to settle federal and state investigations into the French lender's dealings with sanctioned countries, Bloomberg reported, citing a person familiar with the matter.

Tiffany raises forecast as lower-priced jewelry woos U.S. customers

(Reuters) - Tiffany & Co raised its full-year profit forecast after the company reported stronger-than-expected quarterly results as its increasing focus on lower-priced jewelry attracted customers in the United States, its biggest market.

Monte Paschi shareholders approve 5-billion euro share sale

SIENA (Reuters) - Shareholders in Italy's Monte dei Paschi di Siena approved a proposal to boost the size of an upcoming share sale to 5 billion euros ($6.9 billion) to help it absorb a hit on its finances it expects from a Europe-wide bank health check.

Dash for cash drives Airbus versus Boeing jet revamps

BERLIN (Reuters) - Drained by their contest to create the carbon-fiber wonder jet, Airbus and Boeing are observing a truce in futuristic new developments while they refill their coffers with makeovers of older but reliably profitable models.