Career News 24/7: Before the Bell: ECB cuts rates below zero to buoy euro zone economy

Thursday, June 5, 2014

Before the Bell: ECB cuts rates below zero to buoy euro zone economy

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06/5/2014

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

ECB cuts rates below zero to buoy euro zone economy

FRANKFURT (Reuters) - The European Central Bank cut interest rates to record lows on Thursday, imposing negative rates on its overnight depositors to cajole banks into lending more and to fight off the risk of Japan-like deflation.

U.S. jobless claims up, but jobs market still strengthening

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose last week, but the underlying trend continued to point to a firming labor market.

GM recall probe finds no cover-up, clears top executives: source

WARREN Mich. (Reuters) - General Motors Co's internal probe of its delay in recalling vehicles with defective ignition switches linked to at least 13 deaths said senior managers were not to blame, a person familiar with the matter told Reuters on Thursday.

France steps up BNP fine defense before Hollande meets Obama

PARIS/BRUSSELS (Reuters) - France stepped up its defense of BNP Paribas bank against a possible huge fine for U.S. sanctions busting before the two countries' leaders meet on Thursday, invoking wider economic concerns and linking the row to trade talks.

U.S. futures slightly higher after ECB cuts rates

NEW YORK (Reuters) - U.S. stock index futures were slightly higher on Thursday after the European Central Bank cut interest rates to record lows while indicating further monetary policy actions will follow.

Sprint agrees to pay about $32 billion to buy T-Mobile: source

NEW YORK (Reuters) - Sprint Corp S.N has agreed to pay about $40 per share to buy T-Mobile US Inc, a person familiar with the matter said, marking further progress in the attempt to merge the third and fourth-biggest U.S. mobile network operators.

Siemens would keep stake in Alstom trains combination: executive

PARIS (Reuters) - German engineering group Siemens would keep a minority stake in any enlarged Alstom train-making business should its plan to buy the French company's power turbines arm work out, the head of Siemens France told a French newspaper.

Twitter in talks to buy online music firm SoundCloud: FT

(Reuters) - Microblogging platform Twitter Inc has been in talks with Berlin-based audio sharing website SoundCloud in its efforts to add a music service to its offering, the Financial Times reported citing people familiar with the matter.

Stocks at a record, but bonds look to break bad first

NEW YORK (Reuters) - U.S. stock and bond markets have risen in tandem all year as investors in each found reasons to support their views: stocks are up on signs the economy is improving, and bonds have gained on expectations for low inflation and relatively slow growth.

Ex-Hong Kong official took secret payments from tycoons, trial told

HONG KONG (Reuters) - Prosecutors in Hong Kong's largest corruption trial opened their case on Thursday with details of what they described as "concealed and disguised" payments made to a former top civil servant by property tycoons seeking government favor.