Business Today: Stock futures cut gains after jobs, growth data

Click to View in Browser 05/31/2012 Stock futures cut gains after jobs, growth data NEW YORK (Reuters) - Stock index futures cut gains to trade almost flat on Thursday after two reports on the labor market came in worse than expected and economic growth for the first quarter was revised down. Jobless claims rise for 4th straight week WASHINGTON (Reuters) - New claims for unemployment benefits rose last week for the fourth straight week, which could heighten concerns the labor market recovery is softening. Retailers report strong May same-store sales (Reuters) - Several top retailers reported stronger-than-expected sales in May, as shoppers overcame growing anxiety about the U.S. economy and the job market. Private sector adds 133,000 jobs in May: ADP NEW YORK (Reuters) - The pace of hiring at companies picked up in May, though the 133,000 jobs created this month came in shy of analysts' expectations, data from a payrolls processor showed on Thursday. Analysis: Dewey's bankruptcy: Let the rumble begin (Reuters) - As law firm Dewey & LeBoeuf embarks on the humbling process of working through bankruptcy, creditors and former partners are bracing themselves for a nasty court battle that could drag on for years. Apple assembly plant conditions still harsh in China: activists HONG KONG (Reuters) - Working conditions at Foxconn's gargantuan Chinese factories that assemble Apple Inc's slick gadgets have barely improved despite pledges this year to halt labor violations, workers' rights activists and employees said on Thursday. Draghi says EU must spell out clear euro vision BRUSSELS (Reuters) - Europe's leaders must clarify their vision for the euro quickly to dispel doubts about the currency's future, ECB President Mario Draghi said on Thursday, warning that the Central Bank could not fill the policy vacuum. Spain must tell Europe its plans for Bankia: EC MADRID (Reuters) - Spain must lay out plans for nationalized lender Bankia to the European Commission (EC), a spokesman for the Commission said on Thursday, adding a domestic solution to the country's bank crisis would be better than a European rescue. Canada's CGI to buy Logica to create global IT firm LONDON (Reuters) - Canada's CGI Group Inc agreed to buy Anglo-Dutch IT services firm Logica for $2.64 billion on Thursday, giving it the scale and geographical presence to meet multinational companies' demands for global IT contracts. ECB, EU officials warn euro's survival at risk BRUSSELS (Reuters) - The European Central Bank stepped up pressure on Thursday for a joint fund to guarantee bank deposits in the euro zone, saying Europe needed new tools to fight bank runs as the bloc's debt crisis drives investors to flee risk. Related Video Reuters Breakingviews: Grizzly week for Graff Diamonds Berlin clubs lose their cool as 'techno' scene flags Economic News Fed's Bullard says more quantitative easing unlikely for now, warns on Europe Jobless claims rise for 4th straight week 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