IBT Staff Reporter

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Service sector growth picks up in May: ISM

The pace of growth in the services sector picked up modestly in May while gauges of new orders and employment climbed, according to an industry report released on Friday.
Jun 03, 2011

Stocks falls on weak payrolls data

U.S. stocks dropped on Friday after a dismal report on the labor market appeared to confirm the recent glut of data signaling the economic recovery was waning.
Jun 03, 2011

Greece says EU/IMF talks end positively

Greece said on Friday that international lenders had concluded an inspection of its bailout program positively, as the country's prime minister outlined plans for deeper austerity measures.
Jun 03, 2011

Moody's sounds alarm over U.S. debt limit and deficits

Ratings agency Moody's warned on Thursday it would consider cutting the United States' coveted top-notch credit rating if the White House and Congress do not make progress by mid-July in talks to raise the debt limit.
Jun 03, 2011

Greece presents austerity plan to EU as markets ease

The prospect of a second bailout for debt-stricken Greece assuaged market fears of default on Friday as the country's prime minister flew to Luxembourg to present plans for deeper austerity measures.
Jun 03, 2011

Wal-Mart says on right track in U.S.

Wal-Mart Stores Inc is trying to reassure employees and investors that the company's signature U.S. discount business can again achieve the growth that made Wal-Mart the world's number one retailer.
Jun 03, 2011

PayPal to end partnership with Alibaba

EBay's online payment unit, PayPal, will end its year-old partnership with AliExpress, the wholesale website of Alibaba.com, from early August, PayPal said on Friday.
Jun 03, 2011

Wal-Mart seeks to reassure investors on growth

Wal-Mart Stores Inc is trying to reassure employees and investors on Friday that the company can reach out to shoppers online, on their phones and in small and large stores to drive growth.
Jun 03, 2011

India source: no sign yet of joint BRICS IMF candidate

There has been no sign yet of a joint candidate from the developing countries of Brazil, Russia, India, China and South Africa to head the International Monetary Fund, an Indian government source told Reuters on Friday.
Jun 03, 2011

Stocks set to tumble at open after payrolls data

Stock index futures pointed to a drop of more than 1 percent at the open on Friday after a dismal report on the labor market appeared to confirm recent data signaling the economy recovery was weakening.
Jun 03, 2011

Apple iPad 3: A revolution in the making?

While the media is awash with rumors regarding the next iPhone, Apple is silently working in the background to piece together its next version of iPad 2, the iPad 3.
Jun 03, 2011

Employment growth brakes sharply in May

Employment rose far less than expected in May to record its weakest reading since September, while the jobless rate rose to 9.1 percent as high energy prices and the effects of Japan's earthquake bogged down the economy.
Jun 03, 2011

Wal-Mart to seek to reassure investors on growth

Wal-Mart Stores Inc is ready to reassure employees and investors on Friday that the company can reach out to shoppers online, on their phones and in small and large stores to drive growth.
Jun 03, 2011

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