Business Today: Data signal soft economy but not abrupt slowdown

	Click to View in Browser 05/31/2013 Data signal soft economy but not abrupt slowdown WASHINGTON (Reuters) - U.S. consumer spending fell in April for the first time in almost a year and already low inflation declined further, undercutting arguments for a near-term tapering of the Federal Reserve's bond-buying stimulus. Digital currency firms rush to adopt anti-money laundering rules NEW YORK/ST. LOUIS (Reuters) - These are unsettling times for digital currency businesses and the venture capitalists backing them. SAC redemptions grow, as Magnitude Capital joins in NEW YORK (Reuters) - Investor redemptions from Steven A. Cohen's hedge fund, SAC Capital Advisors, continue, with Magnitude Capital emerging as the latest outside investor asking to get money back from the $15 billion hedge fund. Wall Street ends down 1 percent for day, but up for May NEW YORK (Reuters) - Stocks ended down 1 percent on Friday, extending losses into the close, but the three major indexes closed out May with gains. The S&P 500 rose 14.34 percent for the first five months of 2013 - its best first five months since 1997. China Inc's Smithfield bid expected to pass Washington test (Reuters) - Washington may still be digesting news of China Inc's latest bold move into America with the nearly $5 billion takeover of Smithfield Foods Inc , but early indications are the deal will not inflame enough nationalistic opposition to kill it, and success could pave the way for more Chinese purchases. Louis Vuitton owner faces maximum fine in luxury row PARIS (Reuters) - A battle between French luxury handbag makers spilled out into the public eye on Friday with market regulators seeking the maximum fine for Louis Vuitton owner LVMH for failing to disclose moves to build a stake in rival Hermes . Sale of AIG plane lease unit to Chinese group at risk (Reuters) - A Chinese group's purchase of ILFC, one of the world's largest airplane leasing companies, could collapse after insurer American International Group Inc said on Friday it did not receive a scheduled deposit payment. Record unemployment, low inflation underline Europe's pain BRUSSELS/PARIS (Reuters) - Unemployment has reached a new high in the euro zone and inflation remains well below the European Central Bank's target, stepping up pressure on EU leaders and the ECB for action to revive the bloc's sickly economy. Boeing to open design and support sites away from Seattle SEATTLE (Reuters) - Boeing Co on Friday began a major move to spread its commercial aircraft engineering talent and aircraft support staff around the U.S., announcing plans for engineering design and airplane-support centers outside of the Seattle area. EU trade chief to protect cultural subsidies in U.S. trade talks MADRID (Reuters) - Europe will protect its cultural subsidies in a proposed free-trade pact with the United States, the EU trade chief said on Friday. Related Video MuniLand: States finally seeing revenues rise -VA Treasurer Techquity: Bright lights, big California Economic News Data signal soft economy but not abrupt slowdown Treasury says suspends pension fund payments to stay under debt limit 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