Business Today: Europe's deepening crisis drags Wall Street lower

Click to View in Browser 05/30/2012 Europe's deepening crisis drags Wall Street lower NEW YORK (Reuters) - Stocks tumbled on Wednesday as surging bond yields in Spain and Italy ratcheted up tensions in financial markets about Europe's ability to solve its growing debt crisis. Two top Fed officials cool to more easing SAN ANTONIO/NEW YORK (Reuters) - The Federal Reserve should not move to ease monetary policy any further, despite dim prospects that unemployment will fall sharply any time soon, two top Fed officials said on Wednesday. Analysis: Even after hiring bankers, RIM running out of options TORONTO/NEW YORK (Reuters) - BlackBerry maker Research In Motion Ltd may be running out of options as it struggles to turn around its slumping fortunes with the help of a coterie of investment bankers. Oil hits 6-month low as risk aversion sweeps markets NEW YORK (Reuters) - Oil dropped more than 3 percent on Wednesday to the lowest level in nearly six months as fears about the euro zone crisis sparked an erosion in risk appetite across markets. Wal-Mart urges worker integrity amid bribery probe FAYETTEVILLE, Arkansas (Reuters) - Top executives of Wal-Mart Stores Inc did not directly mention a Mexican bribery scandal at an employee pep rally on Wednesday, but asked their international workers to focus on "integrity" as a core value. Pending home sales post surprise fall in April WASHINGTON (Reuters) - Contracts to purchase previously owned U.S. homes unexpectedly fell in April to a four-month low, undermining some of the recent optimism that the housing sector was touching bottom. Madoff victims trade on trustee's gains and losses (Reuters) - After Bernard Madoff's fraud unraveled in late 2008, Yale Fishman was courted by Wall Street traders seeking to buy his claim to assets that could be recovered from the mess. After three years of ignoring their calls, he finally said yes. Shareholder support for Exxon executive pay grows DALLAS (Reuters) - Shareholders threw more support behind Exxon Mobil Corp's executive compensation package following the world's largest publicly traded oil company's effort to seek more input on the matter. Less Chevron shareholders back frack risk report SAN RAMON, California (Reuters) - Shareholders owning 27 percent of Chevron Corp voted for more disclosure on the risks to its operations and finances from both hydraulic fracturing regulation and growing public opposition to the oil and gas production practice. Exclusive: GSK eyes replacing Human Genome board NEW YORK/LONDON (Reuters) - GlaxoSmithKline Plc plans to launch a campaign to replace the entire board of Human Genome Sciences Inc with its own nominees, stepping up its $2.6 billion hostile bid for the U.S. biotech company, sources familiar with the situation said on Wednesday. Related Video Trading at Noon: Analysts cut RIM outlook Markets hit by more pain in Spain Economic News Two top Fed officials cool to more easing Pending home sales post surprise fall in April 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