Business Today: Fed wants more job gains before slowing bond buys: minutes

	Click to View in Browser 07/10/2013 Fed wants more job gains before slowing bond buys: minutes WASHINGTON (Reuters) - Even as consensus built within the Federal Reserve in June about the likely need to begin pulling back on economic stimulus measures soon, many officials wanted more reassurance the employment recovery was on solid ground before a policy retreat. Dow dips, S&P 500 inches up after Fed minutes NEW YORK (Reuters) - The Dow slipped and the S&P 500 edged up less than a point on Wednesday, interrupting a four-day rally, with investors trying to gauge when the Federal Reserve may scale back on its economic stimulus. Yum China sales decline moderated in June (Reuters) - KFC parent Yum Brands Inc on Wednesday reported an estimated 10 percent drop in June sales at established restaurants in China - a smaller decline than in May when drastically lower sales related to the country's bird flu outbreak began to moderate. China to hand over documents for U.S. accounting probes SHANGHAI/NEW YORK (Reuters) - China's securities watchdog said it is ready to turn over audit documents of a Chinese company listed in the United States to U.S. regulators, signaling the latest breakthrough in a two-year international dispute over accounting scandals. Wholesale inventories fall, likely drag on GDP growth WASHINGTON (Reuters) - U.S. wholesale inventories fell in May by the most in a year and a half, the second straight monthly decline and a sign that restocking by businesses could weigh against economic growth in the second quarter. Europe, not emerging markets, seen driving Q2 earnings LONDON (Reuters) - Europe's food, drink, technology and financial companies are set to be the stars of the second-quarter earnings season thanks to a nascent regional recovery, while those selling to emerging markets may disappoint. SoftBank priority is beefing up Sprint, not exec changes NEW YORK (Reuters) - SoftBank Corp will move rapidly to use airwaves from Clearwire Corp to bolster Sprint Nextel Corp's wireless service, but it does not plan any big personnel changes once it takes over the No. 3 U.S. mobile carrier, a top SoftBank executive told Reuters. Smithfield CEO faces Senate heat over sale to China WASHINGTON (Reuters) - The head of Smithfield Foods on Wednesday faced tough questioning from U.S. lawmakers concerned the proposed sale of Virginia ham maker to China's largest pork producer could hurt U.S. food safety and lead to higher prices for American consumers. Pentagon chief says draconian steps would be needed to meet cuts WASHINGTON (Reuters) - U.S. Defense Secretary Chuck Hagel warned on Wednesday the Pentagon would have to take draconian steps next fiscal year, including hiring freezes and cuts in weapons purchases, unless Congress acts to stop $52 billion in spending cuts. Ford cuts price of 2014 electric Focus by 10 percent DETROIT (Reuters) - Ford Motor Co. will reduce the price of its 2014 Focus Electric compact car by 10 percent, the latest in a series of price cuts by major automakers on their battery-powered cars. Related Video Techquity: Judge throws e-book at Apple, HP upgraded EU unveils plans for failing banks Economic News Bernanke: No economic stability without financial stability Fed wants more job gains before slowing bond buys: minutes 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