Kohl's, J.C. Penney and Nordstrom release disappointing earnings news, putting a damper on their sector.Retailread more
Bezos's comments give a rare glimpse into his interest in the auto industry. Amazon recently invested in two self-driving start-ups.Technologyread more
While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks...Hedge Fundsread more
CBS plans to renew discussions for Starz with Lions Gate in the coming weeks, according to people familiar with the matter. If a deal happens, the remainder of Lions Gate...Technologyread more
"We are now embarking on a new Long March, and we must start all over again!" Xi Jinping said.Marketsread more
The economist thinks the Fed ought to pay more attention to financial markets when setting interest rates.The Fedread more
Connecticut state Sen. Alex Bergstein's divorce case with her husband, Morgan Stanley managing director Seth Bergstein, has exposed her new romantic relationship with her...Politicsread more
Donaldson was chief of staff to former White House counsel Don McGahn, who on Tuesday defied the Judiciary panel's subpoena to testify about special counsel Robert Mueller's...Politicsread more
As shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load. Looking to stem the losses, Ascena is turning to...Retailread more
The U.S. State Department's current offer is the final one, according to multiple sources.Politicsread more
Former Facebook executive Alex Stamos said Mark Zuckerberg should hire a new CEO and turn his focus to building products.Technologyread more
* Pound heads towards $1.30 after breaching $1.31 this week
* PMI services survey signals stagnating economy
* BoE gave hawkish hone, markets doubt any hike is imminent
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv (Updates after PMI data release)
LONDON, May 3 (Reuters) - The British pound edged back from two-week highs on Friday as investors booked profits and doubted the Bank of England would raise interest rates while Brexit remained unresolved.
A survey that showed service business barely returned to growth in April had little effect. The IHS Markit/CIPS UK Services Purchasing Managers' Index rose to 50.4 in April from 48.9 in March, just above the 50 reading that separates growth and decline.
The reading, which was in line with forecasts, suggested the broader economy was stagnating,
Sterling was also little moved by a relatively hawkish message from the Bank of England on Thursday. Investors remained focussed on when, how and on what terms Britain will leave the European Union.
The pound fell 0.1 percent to the day's low of $1.3009 by 0903 GMT after rising above $1.31 earlier in the week. It was down against the euro at 85.80 pence.
The BoE said on Thursday that markets should expect rates to rise more in the next few years than they currently assume, if the economy grows as policymakers expect and inflation is brought back to target.
Few analysts are convinced the bank will act before Brexit uncertainty is lifted, however.
"We believe that persistent Brexit uncertainty combined with concerns over slowing growth overseas will deter the BoE from delivering a more immediate rate hike. We remain sceptical that cross party Brexit talks between the government and Labour will prove successful," MUFG analysts wrote. (Reporting by Tommy Wilke, editing by Larry King)