Business Today: Factory, wholesale price data flag economy's woes

	Click to View in Browser 05/15/2013 Factory, wholesale price data flag economy's woes WASHINGTON (Reuters) - Factory output dropped in April and manufacturing activity in New York state contracted this month, a sign that slowing global demand is weighing on the economy. Oil pricing probe widens, Britain pledges tough action LONDON (Reuters) - Oil companies will face the full force of the law if they manipulated prices, Britain's energy minister said on Wednesday as a rating agency warned of massive fines if a European Commission's probe into oil pricing found any wrongdoing. Dow, S&P 500 end at record highs again NEW YORK (Reuters) - Stocks rose on Wednesday, with the Dow and S&P 500 hitting new all-time highs in a broad market rally as the recent upward momentum persisted. Cisco quarterly profit beats Street, shares rise NEW YORK (Reuters) - Cisco Systems Inc posted a higher than expected quarterly profit, suggesting that technology spending could be picking up for the network equipment maker's customers. Exclusive: Roche exploring sale of diabetes device unit NEW YORK (Reuters) - Swiss drugmaker Roche Holding AG is exploring a sale of its blood glucose meters business, three people familiar with the matter told Reuters on Wednesday, as the industry grapples with increased competition and reimbursement pressure. Daimler unveils make-or-break S-Class flagship HAMBURG (Reuters) - Germany's Daimler pulled the covers off its new flagship Mercedes-Benz S-Class luxury saloon on Wednesday, a critical product launch for a company struggling to make a dent in the lead that rivals BMW and Audi enjoy in sales and profit. Macy's profit, sales rise even as some shoppers pull back (Reuters) - Macy's Inc reported higher first-quarter profit and sales on Wednesday as it won market share from rival department stores. As some retailers back Bangladesh accord, U.S. group lashes out (Reuters) - An accord designed to prevent another deadly disaster in Bangladesh's garment industry drew sharp criticism from a major U.S. retail trade group on Wednesday, which said it would constrain legal rights of U.S. companies, even as more European retailers signed on to the pact. Wells Fargo ordered to pay $203 million in overdraft case (Reuters) - A federal judge has again ordered Wells Fargo & Co to pay $203 million to settle class action litigation accusing it of imposing excessive overdraft fees on checking account customers, reviving an award that had been thrown out last year. Deutsche Bank names head of Americas asset and wealth (Reuters) - Deutsche Bank AG said on Wednesday it has named Jerry Miller to run the German bank's asset and wealth management business in the Americas. Related Video Techquity: Google beats Apple to punch, takes on Facebook Billionaire Dan Loeb says Sony is open to making changes Economic News Factory, wholesale price data flag economy's woes Greater currency flexibility needed to spur growth: Brainard 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