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Friday, May 23, 2014

Before the Bell: Wall Street to open flat ahead of new home sales data

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05/23/2014

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 flat ahead of new home sales data

NEW YORK (Reuters) - U.S. stocks were poised to open flat on Friday, ahead of data on the housing market, with the S&P 500 on track to notch its first weekly gain in the past three.

Russia, China agree on $25 billion prepayment under supply deal: Gazprom

ST PETERSBURG, Russia (Reuters) - Russia and China have agreed on a $25 billion prepayment under a supply deal signed earlier this week, Alexander Medvedev, chief executive of Gazprom Export, said on Friday.

Exclusive: Goldman's Cohn takes on Washington to defend commodities

NEW YORK (Reuters) - Sen. Sherrod Brown, a Democrat from Ohio, and Goldman Sachs Group Inc. President Gary Cohn, who's from Cleveland, are friendly enough that Brown has been known to rib Cohn for abandoning the Cleveland Indians baseball team in favor of the New York Yankees. The two men first met years ago, and Cohn and his family, who are also Democrats, have contributed to Brown's campaigns.

Barclays slapped with $44 million fine over gold price fix

LONDON (Reuters) - Barclays Plc has been fined 26 million pounds ($43.8 million) for failures in internal controls that allowed a trader to manipulate the setting of gold prices, just a day after the bank was fined for rigging Libor interest rates in 2012.

China says economy faces pressure, policy fine-tuning needed

BEIJING (Reuters) - China's economy still faces "relatively big" downward pressures and timely policy fine-tuning is needed, Premier Li Keqiang was quoted by state radio as saying on Friday.

U.S. regulators opens probe of older Chrysler heavy-duty pickups

DETROIT (Reuters) - U.S. safety regulators have opened a probe into an estimated 110,000 heavy-duty Chrysler Group Ram pickup trucks with manual transmissions after reports that the vehicle had started when the clutch was not engaged.

Exclusive: Airbus may cut more defense jobs in German export row

BERLIN (Reuters) - Germany faces defense industry job cuts beyond those already planned and could even see factories closed or moved abroad if the government insists on toughening restrictions on arms exports, the head of Airbus Group told Reuters.

Suzuki recalls 184,244 GM-built cars in U.S. for fire risk

DETROIT (Reuters) - Suzuki Motor Corp is recalling 184,244 cars in the United States that were built by General Motors Co because of a potential fire risk, according to documents filed with U.S. safety regulators.

U.S. businesses urge tough line over China antitrust policy

BEIJING (Reuters) - U.S. companies are crying foul over China's oversight of monopoly and pricing issues, as antitrust enforcement threatens to further sour Sino-American business ties already damaged by a row over cyber espionage.

Hong Kong court orders EY to hand over mainland China audit papers

HONG KONG (Reuters) - A Hong Kong court has ordered auditor EY to hand over documents related to a former Chinese client in a boost for international regulators seeking access to the books of mainland China companies listed outside their home territory.