Business Today: First quarter GDP revised slightly lower; austerity bites

		Click to View in Browser 05/30/2013 First quarter GDP revised slightly lower; austerity bites WASHINGTON (Reuters) - A drop in government spending dragged more on the economy than initially thought in the first three months of the year, a sign of increasing pain from Washington's austerity drive. Jobless claims unexpectedly rise, but still within 2013 range WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but not enough to suggest a shift in the recent pattern of modest job gains. EU's Kroes makes appeal for last-ditch telco overhaul BRUSSELS (Reuters) - Europe's top telecom regulator called for an end to mobile roaming fees and equal access to the Internet in a speech at the European Parliament on Thursday, as she sought backing for reforms to create one market for telecom services in the region. Exclusive: Europe plans major scaling back of financial trading tax BRUSSELS (Reuters) - European countries plan to scale back a proposed financial transactions tax drastically, initially imposing a tiny charge on share deals only and taking much longer than originally intended to achieve a full roll-out. RBC profit rises 26 percent on stronger lending TORONTO (Reuters) - Royal Bank of Canada said on Thursday that its quarterly profit rose 26 percent on stronger lending volumes and lower loan-loss provisions. Futures trim gains after GDP, claims data NEW YORK (Reuters) - Stock index futures slightly trimmed gains after data showed first quarter gross domestic product was revised lower and initial jobless claims rose more than expected. Exclusive: Japan public pension mulls shift after stock rally - sources TOKYO (Reuters) - Japan's public pension fund - a pool of over $1 trillion - is considering a change to its portfolio strategy that could allow its investment in domestic stocks to grow with a rallying market, according to people familiar with the deliberations. Singapore Airlines orders aircraft worth $17 billion from Airbus and Boeing SINGAPORE (Reuters) - Singapore Airlines has ordered 30 Airbus and 30 Boeing aircraft in a deal valued at more than $17 billion, among the biggest in the airline's history. EMC raises stock buyback plan to $6 billion, starts dividend (Reuters) - EMC Corp increased its share buyback program to $6 billion from $1 billion by end-2015 and said it would start paying out a quarterly cash dividend of 10 cents per share. Crisis states lead way as euro zone's economic mood brightens BRUSSELS (Reuters) - Confidence in the euro zone economy grew by more than expected in May, with hope that the worst of the crisis may be over spreading to countries that have been on its frontline. Related Video Fishing for answers at Spain's Pescanova U.S. Morning Call: Japanese stocks plunge 5%; Dow futures up Economic News First quarter GDP revised slightly lower; austerity bites Jobless claims unexpectedly rise, but still within 2013 range 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