Business Today: Wall Street ends down sharply; Dow negative for year

Click to View in Browser 06/1/2012 Wall Street ends down sharply; Dow negative for year NEW YORK (Reuters) - The Dow turned negative for the year on Friday after a weak U.S. jobs report accelerated a downturn in stocks, fueled by fears that Europe's spiraling debt crisis was dragging down the world economy. U.S. job growth trips again, opens door to more Fed moves WASHINGTON (Reuters) - U.S. job growth braked sharply for a third straight month in May and the unemployment rate rose for the first time in nearly a year, raising chances of further monetary stimulus from the Federal Reserve to support the sputtering recovery. Analysis: Economic worry tightens CEOs' grip on spending BOSTON (Reuters) - CEOs will hold their wallets a little bit tighter heading into the summer after the long-awaited recovery in U.S. employment stumbled in May. Wal-Mart chairman: Integrity 'is our business' FAYETTEVILLE, Arkansas (Reuters) - Wal-Mart Stores Inc executives told shareholders they would not stand for unethical behavior at the world's largest retailer, whose shares have soared to 12-year highs as strong results more than offset concerns about bribery allegations. Analysis: How Morgan Stanley sank to junk status (Reuters) - The bond markets are treating Morgan Stanley like a junk-rated company, and the investment bank's higher borrowing costs could already be putting it at a disadvantage even before an expected ratings downgrade this month. MF Global trustee to report on payback efforts NEW YORK (Reuters) - Former MF Global Holdings Ltd customers are hoping to get fresh information on Monday about where their money went and for an update on efforts to get it back. May auto sales disappoint; demand slows DETROIT (Reuters) - Automakers posted strong U.S. May sales gains from a year ago, but the sales rate still fell short of expectations as the broader economy softened and gave pause to consumers mulling big-ticket purchases. World growth at risk as U.S. employment stumbles WASHINGTON/LONDON (Reuters) - The world's economic outlook darkened on Friday as reports showed U.S. employment growth slowing sharply, Chinese factory output barely growing and European manufacturing falling deeper into malaise. Judge OKs Dynegy bankruptcy pact with creditors (Reuters) - Dynegy Inc on Friday won a U.S. bankruptcy judge's approval of a settlement with creditors, putting the power producer's Dynegy Holdings LLC unit one step closer to emerging from Chapter 11 protection. Germans ease austerity pace for Spain, markets in turmoil BERLIN/DUBLIN (Reuters) - EU paymaster Germany softened its drive for austerity across the euro zone on Friday, agreeing to allow Spain more time to cut its deficit while its battles a deepening bank crisis, capital flight and recession. Related Video BP moots retreat from Russia PayPal leads mobile payments push Economic News U.S. job growth trips again, opens door to more Fed moves Analysis: Economic worry tightens CEOs' grip on spending 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