Business Today: Retail sales rise less than expected, building materials fall

		Click to View in Browser 07/15/2013 Retail sales rise less than expected, building materials fall WASHINGTON (Reuters) - U.S. retail sales rose less than expected in June, adding to signs of a slowdown in economic growth that could argue against the Federal Reserve's plan to start trimming its monetary stimulus later this year. Glaxo used travel agencies for China bribes: police BEIJING (Reuters) - Chinese police on Monday accused British drugmaker GlaxoSmithKline of channeling bribes to Chinese officials and doctors through travel agencies to boost sales illegally and raise the price of its medicines in the country. Citi reports 26 percent rise in adjusted profit as trading rebounds (Reuters) - Citigroup Inc reported a stronger-than-expected 26 percent rise in adjusted quarterly profit as stronger home prices reduced losses on mortgages and trading revenue rebounded. GSK stops using travel agencies accused in Chinese probe LONDON (Reuters) - British drugmaker GlaxoSmithKline said on Monday it had stopped using all travel agencies which have been accused by the Chinese police of channeling bribes to illegally boost sales and inflate the price of its medicines in the country. China data helps futures edge higher NEW YORK (Reuters) - Stock index futures edged higher on Monday after data overseas suggested the slowdown in economic growth in China, the world's second-largest economy, was not greater as some had feared. China's GDP growth slows to 7.5 percent, tests reform push BEIJING (Reuters) - China's GDP growth slowed in the second quarter to 7.5 percent year-on-year as weak overseas demand weighed on output and investment, lining up a test of Beijing's resolve to revamp the world's second-biggest economy in the face of deteriorating data. Loblaw to buy Shoppers Drug Mart for $11.9 billion (Reuters) - Loblaw Cos Ltd, Canada's largest food retailer, will buy Shoppers Drug Mart Corp for C$12.4 billion ($11.9 billion), as it faces increasing competition from Target Corp and Wal-Mart Stores Inc. HP names ex-Microsoft software chief, two others to board NEW YORK (Reuters) - Hewlett-Packard Co on Monday appointed three new directors, including former Microsoft Corp software chief Raymond Ozzie, increasing its board size to 12 from nine. Boeing's latest 787 fire poses major test of jet's carbon skin SEATTLE/PARIS (Reuters) - Boeing faces a public and revealing test of the carbon-composite technology used in the 787 Dreamliner following a fire that broke out aboard one of its planes at London's Heathrow airport. Deloitte disciplinary hearing over MG Rover to resume LONDON (Reuters) - Accountants Deloitte will next week return before a tribunal which is assessing whether it failed to manage conflicts of interest in its advice to MG Rover Group and the "Phoenix Four" directors who bought the UK carmaker before it collapsed. Related Video Market Pulse: Investors give Spain a political pass, for now U.S. Morning Call: Apple hiring for iWatch project Economic News Fear of Fed and China slowdown take a toll Bernanke's challenge clear as Fed officials diverge on QE 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