Before the Bell: Stock futures point to lower open, on track for weekly drop

	Click to View in Browser 05/16/2014 Stock futures point to lower open, on track for weekly drop NEW YORK (Reuters) - U.S. stock index futures pointed to a lower on Friday, indicating the Dow and S&P 500 could extend their decline to a third day as investors continued to be wary of weakness in small-cap names. Housing starts up sharply; permits highest since 2008 WASHINGTON (Reuters) - U.S. housing starts jumped in April and building permits hit their highest level in nearly six years, offering hope that the troubled housing market could be stabilizing. Sweden fights back as Pfizer move on Astra threatens jobs STOCKHOLM (Reuters) - The Swedish government launched a fightback on Friday against U.S. drugmaker Pfizer's proposed takeover of AstraZeneca , which has half its roots and more than 5,000 staff in Sweden, highlighting the risks to jobs and science. Macau seeks curbs on China's UnionPay bank card in casinos: source MACAU (Reuters) - Macau authorities have urged banks to restrict the use of a Chinese state-backed bank card which racked up $22.5 billion in transactions last year, a person with direct knowledge of the matter told Reuters, in a bid to curb the increasingly large amounts of money being illegally taken out of China. Darden to sell Red Lobster seafood chain for $2.1 billion (Reuters) - Darden Restaurants Inc said it agreed to sell its Red Lobster seafood chain to private equity firm Golden Gate Capital for $2.1 billion in cash, defying pressure from an activist investor who opposed plans to shed the struggling chain. U.S. regional banks tip-toe into commodities as Wall Street faces shake-out NEW YORK (Reuters) - Two years ago, Denver-based oil and gas driller Bonanza Creek Energy wanted to spread its credit risk and hedge its production - and it called on some regional Main Street banks to help do it. Bitcoin Foundation hit by resignations over new director SAN FRANCISCO (Reuters) - As the most prominent trade group pushing adoption of the electronic currency Bitcoin begins its annual conference on Friday, it is being roiled by controversy. Banks to return 6.155 billion euros in crisis loans to ECB next week FRANKFURT (Reuters) - Banks will return 6.155 billion euros ($8.44 billion) in long-term crisis loans to the European Central Bank next week, more than this week and than was expected as banks trim down their reliance on ECB funding and return to the markets. GSK case a 'warning' to all foreign firms in China: Xinhua SHANGHAI (Reuters) - Corruption charges against GlaxoSmithKline Plc executives in China are a warning to other foreign firms and could do irreparable damage to the British drugmaker's Chinese operations, the official Xinhua news agency said on Friday. New York's pension 'smoothing' may short-change retirement fund NEW YORK (Reuters) - New Yorkers who rely on the state pension fund for their retirement may be short-changed about $735 million over the next 10 years as a result of Governor Andrew Cuomo's policy of permitting local authorities to defer fund payments so they can fill budget gaps and pay for services such as schools, street lights and police. Related Video Buy Russia after plunge? Yes, pick Gazprom, Magnit – BCS World at Risk: Nigerian economy safe from Boko Haram Global Investing New York's pension 'smoothing' may short-change retirement fund Hedge fund moguls put money on Asian Internet, low-volume stocks 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