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Yahoo

Business - U.S. economy contracts in first quarter; dollar hits corporate profits


The government on Friday slashed its gross domestic product estimate to show it shrinking at a 0.7 percent annual rate instead of the 0.2 percent growth pace it estimated last month. There was also a modest downward revision to consumer spending. Economists, including those at the San Francisco Federal Reserve Bank, have cast doubts on the accuracy of GDP estimates for the first quarter, which have tended to show weakness over the last several years.


Friday, May 29, 2015  13:50

CNN

Market - U.S. economy contracted in first quarter, but don`t panic


The U.S. economy lost ground in the first quarter, but the economy is already show signs of life


Friday, May 29, 2015  14:44

Yahoo

Business - Wall Street opens marginally lower after GDP data


(Reuters) - U.S. stocks opened marginally lower on Friday after data showed that the economy contracted slightly less than expected in the first quarter.


Friday, May 29, 2015  14:44

Yahoo

Business - Wall Street futures unchanged, set for lower open after GDP data


The U.S. government slashed its gross domestic product estimate to show it shrinking at a 0.7 percent annual rate instead of the 0.2 percent growth pace it estimated last month. `Monetary policy from the Fed is forward looking and GDP by definition is a rear view mirror and the important thing now is that it wasn`t a big miss,` said Adam Sarhan, chief executive of Sarhan Capital in New York. Investors keep a keen eye on economic data for clues to narrow down the timing of an increase in interest rates by the Federal Reserve.


Friday, May 29, 2015  14:26

Yahoo

Business - U.S. funds raise equity allocation, cut euro zone assets: Reuters poll


(Reuters) - U.S. fund managers recommended increasing equity exposure in a model portfolio in May, a Reuters poll showed, raising allocations in mainly North American and British shares at the expense of those in the euro zone.


Friday, May 29, 2015  14:26

Yahoo

World - Greek bank deposits fall to lowest in more than a decade


ATHENS, Greece (AP) Greek bank deposits have fallen to their lowest in more than a decade, new statistics show, as Greeks worried about their new government`s painfully slow negotiations with creditors withdraw savings.


Friday, May 29, 2015  12:19

Yahoo

Business - Futures down as Greece weighs; GDP data awaited


* The Commerce Department is expected to report U.S. economy likely shrank in the first quarter instead of growing, as was estimated last month. * While several economists have cast doubts on the accuracy of GDP estimates for the quarter, investors will peruse the data for clues to narrow down the timing of an increase in interest rates. * The GDP report is also expected to show a second quarterly drop in corporate profits because of the strong dollar and oil prices.


Friday, May 29, 2015  12:56

Yahoo

World - UN nuke agency report shows Iran probe essentially stalled


VIENNA (AP) Amid accelerated international efforts to reach a nuclear deal with Iran, the U.N. atomic agency on Friday reported that work on a key element an assessment of allegations that Tehran worked on atomic arms remains essentially stalled.


Friday, May 29, 2015  13:50

USATODAY

NBA - 2015 NBA Finals: Cavaliers-Warriors schedule, TV guide


Here is everything you need to know for the 2015 NBA Finals.


Friday, May 29, 2015  12:56

Yahoo

World - Cyprus bomb suspect `linked to Hezbollah`


A Lebanese-Canadian man detained in Cyprus after two tonnes of potential bomb-making material was found in his home was reported by media Friday to be a member of the militant group Hezbollah. The Phileleftheros newspaper said the 26-year-old man, who was remanded in custody on Thursday, belonged to the Lebanese organisation`s military wing and had personal links to Hezbollah leader Hassan Nasrallah. The daily said the man, who has not been named, arrived in Cyprus last week for what he described as a holiday.


Friday, May 29, 2015  12:56

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