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  • *Shanghai stocks focus on potential positives of weak China PMI. LONDON, May 21- World shares hovered near record highs on Thursday after downbeat Chinese manufacturing data put pressure on Beijing for more stimulus and the Federal Reserve signalled an increase in U.S. interest rates is still some way off. Top euro zone leaders will meet later in Latvia, where...

  • Detroit is the latest major city to see an influx of whites who may not find the suburbs as alluring as their parents and grandparents did in the last half of the 20th century. "For any individual who wants to build a company or contribute to the city, Detroit is the perfect place to be," said Bruce Katz, co-director of the Global Cities Initiative at the Washington-...

  • The reason: for more than four years, Fiorina- who has an estimated net worth of up to $120 million- didn't pay them, a review of Federal Election Commission records shows. But some former staffers on her Senate campaign are now raising questions about that portrayal. FEC records show, for example, that her former campaign manager Martin Wilson was owed $80,500; legal...

  • SYDNEY/ TOKYO, May 21- The dollar stepped back in Asian trade on Thursday but held close to a two-week peak against a basket of major currencies as investors focused on the pace of the U.S. "The sentiment is turning favourable on the dollar after all the position-unwinding has been done," said a trader at a Japanese bank in Tokyo. "Although they contained no outright...

  • WASHINGTON, May 20 (Reuters)- Federal Reserve officials believed it would be premature to hike interest rates in June even though most felt the U.S. economy was set to rebound from a dismal start to the year, according to minutes from their April policy meeting released on Wednesday. They also cited economic worries in China and Greece. They also were troubled by the...

  • *Minutes in line with interest rate expectations. May 20- U.S. stocks ended marginally lower on Wednesday after Wall Street saw little in the minutes from last month's Federal Reserve meeting to alter expectations of when the central bank will raise interest rates. "They didn't give much tangible evidence that they were going to do anything different than what...

  • NEW YORK, May 20- U.S. stocks ended flat on Wednesday as minutes from last month's Federal Reserve meeting did little to change expectations of when the central bank may raise interest rates.

  • *Greece needs deal to make June 5 IMF repayment- official. NEW YORK, May 20- Wall Street and the dollar rose on Wednesday after minutes of a Federal Reserve policymakers meeting last month bolstered bets that the first U.S. interest-rate hike in more than a decade will not come until later in 2015 at the earliest. "The minutes overall depicted the Fed in a rate hike...

  • May 20- The Dow and S&P 500 pushed into record high territory on Wednesday after Wall Street saw little in the minutes from last month's Federal Reserve meeting to change expectations of when the central bank will raise interest rates. "We have been in this sweet spot where the labor market has been strong, which implies the economy is doing well or at least people...

  • The minutes from the April 28-29 meeting of the Fed's policy-setting committee also showed most participants expected the U.S. economy to pick up pace after a slowdown in the first quarter and that labor market conditions would improve. They also cited economic worries in China and Greece. Investors now will focus on a speech by Fed Chair Janet Yellen on Friday...

  • May 20- U.S. stocks remained near flat on Wednesday as Wall Street saw little in the minutes from last month's Federal Reserve meeting to change expectations of when the central bank will raise interest rates. "The comments were fairly innocuous," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. At 2:15 p.m., the Dow...

  • Fed minutes indicate June rate hike unlikely Wednesday, 20 May 2015 | 2:01 PM ET

    WASHINGTON— Federal Reserve policymakers largely agreed when they met last month that it would be too early to start raising interest rates in June, as they debated whether the economy's winter weakness would fade or persist. The divergent views were revealed Wednesday in the minutes of the central bank's discussions at their April 28-29 meeting.

  • WASHINGTON— If there was one thing most economists agreed on at the start of the year, it was this: Plunging oil prices would boost the U.S. economy. At $2.71 a gallon, the average price of gas nationwide is nearly $1 lower than it was a year ago. Consider what Federal Reserve Chair Janet Yellen said in December: Lower gas prices, Yellen declared, are "certainly good for...

  • *Yahoo up after sharp selloff on Tuesday. *Pep Boys up after report of takeover approach. May 20- Wall Street was set to open little changed on Wednesday with investors cautious ahead of the release of minutes from last month's Federal Reserve meeting, which is expected to shed light on when interest rates will be hiked.

  • US STOCKS-Futures slightly higher ahead of Fed minutes Wednesday, 20 May 2015 | 7:35 AM ET

    May 20- U.S. stock index futures were slightly higher on Wednesday, a day after the Dow closed at a record high for the second straight day and ahead of the release of minutes from last month's Federal Reserve meeting. The minutes are expected to be released at 2:00 p.m. ET. *A rate hike is not likely to be appropriate until early 2016, Chicago Fed President Charles...

  • Swiss bank UBS settles US legal cases for $545 million Wednesday, 20 May 2015 | 5:24 AM ET

    BERLIN— Swiss bank UBS says it is pleading guilty to wire fraud and is paying $545 million to settle U.S. cases of market manipulation. The bank said Wednesday that under the deal with U.S. authorities it will be granted conditional immunity from prosecution in a Department of Justice probe on the manipulation of foreign exchange rates. UBS AG said it was the first...

  • LONDON, May 20- Swiss bank UBS said it has settled a probe by U.S. authorities over alleged rigging of currency markets and will pay $342 million to the Federal Reserve. UBS said it would also pay a $203 million penalty and plead guilty to criminal charge with the U.S. Department of Justice, but that relates to manipulation of Libor benchmark interest rates.

  • Rate hike not right until early 2016: Fed's Evans Wednesday, 20 May 2015 | 4:32 AM ET
    Charles Evans

    A hike in U.S. interest rates is not likely to be appropriate until early 2016, Chicago Federal Reserve President Charles Evans said on Wednesday.

  • FOREX-Dollar surges for third day, eyes on Fed and Greece Wednesday, 20 May 2015 | 3:54 AM ET

    *Euro falls to three-week low of $1.1062. LONDON, May 20- The dollar scaled a three-week high against the euro and a two-month peak against the yen on Wednesday, ending its weakest run against the single currency in four years with an almost four-cent advance this week. The euro, hammered on Tuesday by signs the European Central Bank is prepared to do more to drive...

  • MUNICH, May 20- A hike in U.S. interest rates is not likely to be appropriate until early 2016, Chicago Federal Reserve President Charles Evans said on Wednesday. "Inflation is too low," Evans told an audience in Munich. Evans argued for rates to start rising in early 2016 in a speech in Stockholm on Monday, though he also said the Fed could look at a hike in June if the...