Business Today: Stock futures trim gains after data

Click to View in Browser 05/24/2012 Stock futures trim gains after data NEW YORK (Reuters) - Stock index futures trimmed gains on Thursday after data showed durable goods orders rose less-than-expected for April and weekly initial jobless claims were little changed from the prior week. Jobless claims little changed last week WASHINGTON (Reuters) - New claims for unemployment benefits fell slightly last week, government data on Thursday showed, suggesting the labor market continues to expand at a moderate pace. April durable goods orders edge up as machinery drags WASHINGTON (Reuters) - Demand for long-lasting manufactured goods rose less than expected in April as companies scaled back plans to add machinery and the military ordered fewer aircraft, suggesting factory activity was losing momentum in the second quarter. HP to lay off 27,000, profit slides 31 percent SAN FRANCISCO (Reuters) - Hewlett Packard Co plans to lay off roughly 27,000 employees or about 8 percent of its workforce over the next couple of years to jumpstart growth and save up to $3.5 billion annually, sending its shares 11 percent higher. MasterCard loses card fee challenge, Visa Europe next LUXEMBOURG (Reuters) - Mastercard lost a challenge to an EU ban on its cross-border card fees in a ruling that puts rival Visa Europe squarely in the sights of the European regulators over its charges. Euro zone slump deepens, China falters LONDON (Reuters) - The shadows being cast over the global economy darkened this month as the euro zone's private sector declined further and China's once-booming factories faltered, business surveys showed on Thursday. German economy succumbs to euro gloom BERLIN (Reuters) - German business sentiment collapsed in May and the manufacturing sector shrank as turmoil in the euro zone unsettled firms, threatening to end the immunity of Europe's largest economy to the troubles surrounding it. China's CIC eyes up to $2 billion stake in Alibaba Group: sources HONG KONG (Reuters) - Sovereign wealth fund China Investment Corp (CIC) is in advanced talks to buy an up to $2 billion stake in Alibaba Group, sources told Reuters, as the Chinese e-commerce powerhouse looks to secure the last of the funding it needs to buy back part of its stake from Yahoo Inc. EU urges Greece to stay in euro, plans for possible exit BRUSSELS (Reuters) - European Union leaders, advised by senior officials to prepare contingency plans in case Greece decides to quit the single currency, urged the country to stay the course on austerity and complete the reforms demanded under its bailout program. Shareholders sue Facebook, NYSE comes calling SAN FRANCISCO (Reuters) - The fallout from Facebook Inc's messy initial public offering widened on Wednesday as shareholders sued the social network and its bankers while a trading firm revealed a massive loss on the shares and threatened to seek "remedies." Related Video U.S. Morning Call: NYSE looking to list Facebook-source Sunblock for China's solar panel makers Economic News Guessing game begins over next Treasury chief Jobless claims little changed last 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