The Other Side of Life 24/7: Business Today: Consumer prices rise, pointing to firming inflation pressures

Tuesday, June 17, 2014

Business Today: Consumer prices rise, pointing to firming inflation pressures

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06/17/2014

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

Consumer prices rise, pointing to firming inflation pressures

WASHINGTON, (Reuters) - U.S. consumer prices recorded their largest increase in more than a year in May as costs for a range of goods and services rose, pointing to a steady firming of inflation pressures.

U.S. housing starts, permits fall more than expected in May

WASHINGTON, (Reuters) - U.S. housing starts and building permits fell more than expected in May, suggesting the housing recovery will likely remain slow for a while.

Futures turn negative after data

NEW YORK (Reuters) - U.S. stock index futures turned negative following a set of data on Tuesday that pointed to a slow recovery in the housing sector and inflation pressures.

Apple settles e-book antitrust case with U.S. states, others

(Reuters) - Apple Inc reached an out-of-court settlement with U.S. states and other complainants in an e-book price-fixing class action lawsuit on Monday, effectively avoiding a trial in which the iPad maker faced more than $800 million in claims.

France wants better Alstom offers: presidency source

PARIS (Reuters) - The French government raised the stakes in the battle for the power assets of engineering group Alstom on Tuesday, urging rival suitors General Electric (GE) and Siemens to come up with better offers.

Obama to tout manufacturing gains, highlight economic progress

WASHINGTON (Reuters) - President Barack Obama will seek to highlight gains in advanced manufacturing in the United States during a trip to Pennsylvania on Tuesday as he tries to show how his administration is boosting economic growth without help from Republicans in Congress.

SoftBank CEO: sees new movement, hopes for more discussion after resistance on T-Mobile

TOKYO (Reuters) - SoftBank Corp CEO Masayoshi Son, who has met resistance from U.S. regulators to a possible acquisition of wireless carrier T-Mobile US Inc, on Tuesday said there had been new movement in the past few months and expressed hope for more discussion.

Shell to sell most of stake in Australia's Woodside for $5.7 billion

MELBOURNE (Reuters) - Royal Dutch Shell launched a long-anticipated sale of most of its stake in Australia's Woodside Petroleum Ltd on Tuesday, looking to reap about $5.7 billion as it moves to focus on developing its own gas assets in Australia.

U.S. banks seen falling short of new debt funding rule

WASHINGTON (Reuters) - Wells Fargo, State Street and JPMorgan Chase & Co are below or almost at minimum capital thresholds expected to be included in a rule still being hammered out by U.S. regulators that's meant to mitigate taxpayer losses in another financial crisis, according to a Reuters analysis.

Wal-Mart China to raise food safety spending to $48 million

BEIJING (Reuters) - The world's biggest retailer, Wal-Mart Stores Inc , said on Tuesday that it will increase its spending on food safety in China to 300 million yuan ($48.32 million) in 2013, 2014 and 2015, up from a previously-announced 100 million yuan in the same period.