Business Today: Producer prices post biggest drop in three years

		Click to View in Browser 05/15/2013 Producer prices post biggest drop in three years WASHINGTON (Reuters) - Producer prices recorded their largest drop in three years in April as gasoline and food costs tumbled, pointing to weak inflation pressures that should give the Federal Reserve latitude to keep monetary policy very accommodative. Macy's profit, same-store sales up, raises dividend (Reuters) - Macy's Inc reported higher first-quarter profit and sales on Wednesday despite weak demand from some of its customers, and the department store operator raised its quarterly dividend 25 percent. Stock futures little changed before flurry of data NEW YORK (Reuters) - Stock index futures were little changed on Wednesday, indicating the S&P 500 may hold near its most recent record high ahead of a glut of economic reports, including data on inflation and manufacturing. Insight: Bank documents portray Cyprus as Russia's favorite haven NICOSIA (Reuters) - When the Cyprus bank run began earlier this year, Russians set much of the pace. Documents seen by Reuters show that as the Mediterranean island headed towards financial meltdown in March, most notable among companies transferring money from the country's two main banks were Russians and East Europeans. AT&T sees mobile business improvements in second quarter (Reuters) - AT&T Inc expects a much better results in its wireless business in the second quarter compared with the first quarter, according to Chief Executive Randall Stephenson. Amazon UK pays $3.7 million tax on $6.5 billion sales LONDON (Reuters) - Amazon.com's main UK unit paid taxes of $3.7 million on its 2012 income, despite group UK sales of $6.5 billion (4 billion pounds), its accounts published on Wednesday showed. UK banks avoid investigation by competition authority LONDON (Reuters) - Britain's biggest banks were spared a full-blown inquiry into the personal current account market after the consumer watchdog said changes already being implemented could stimulate competition in the industry. M&S's make-or-break clothing strategy gets early thumbs-up LONDON (Reuters) - Fashion media and analysts broadly welcomed Marks & Spencer's new clothing strategy and a preview of autumn/winter fashion ranges, giving the firm's boss some respite from pressure over falling sales. CEO of SocGen Russia unit held over suspected kickbacks MOSCOW (Reuters) - The chief executive of Societe Generale's Russian unit was detained on Wednesday on suspicion of taking bribes, dealing a blow to one of the few foreign banks that has dared to challenge Russia's dominant state banks. Indonesia's Lion Air should review procedures: crash report (Reuters) - Investigators have raised questions over training and cockpit procedures at Indonesian budget carrier Lion Air after a preliminary report into a crash last month off Bali found the captain was not at the controls at a "critical time". Related Video Breakingviews: Quit that GDP micro fixation Corporate China goes brand-hunting in Europe Economic News Producer prices post biggest drop in three years Import prices fall; lower oil prices to help households 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