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May 02, 2015 MONEY (MSM)

Anemic U.S. factory data points to moderate growth bounce

U.S. factory activity failed to gain steam in April after slowing for five straight months and demand for automobiles softened, suggesting the economy was struggling to find momentum after growth almost stalled in the first quarter. Other data on Friday showed construction spending hit a six-month low in March, also indicating that the anticipated acceleration in growth in the second quarter could disappoint. The economy expanded at a 0.2 percent

May 02, 2015 MONEY (MSM)

Fed rate hike in June 'on the table,' two policymakers say

ORANGE, Calif./PHILADELPHIA (Reuters) – The Federal Reserve could well raise interest rates as soon as June, two top U.S. central bankers said on Friday, so long as economic data strengthens as expected from a dismal first quarter. The Fed has kept interest rates near zero since December 2008. The key, both Loretta Mester, president of the Cleveland Fed, and John Williams, president of the San Francisco Fed, said, is that

May 02, 2015 MONEY (MSM)

U.S. auto sales disappoint in April as Asian automakers miss mark

U.S. auto industry sales in April came in below expectations as Asia’s major carmakers’ results disappointed, offsetting strong gains for trucks and SUVs made by General Motors (GM.N) and Ford (F.N). Sales reported on Friday by Japan’s Nissan , Toyota and Honda , as well as the combined results for South Korea’s Hyundai and its Kia affiliate, all missed expectations. Industry sales in April finished at 1,454,951 vehicles, up 4.6

May 02, 2015 MONEY (MSM)

ADB says will maintain standards when cooperating with AIIB

The Asian Development Bank (ADB) said on Saturday that it was ready to work with the China-led Asian Infrastructure Investment Bank (AIIB) so long as standards were met, while also announcing changes to boost its own lending capacity by billions of dollars. China has said 57 countries have signed up to become founding members of the AIIB, but so far the United States has chosen to remain outside the bank,

May 02, 2015 MONEY (MSM)

Ford expands door latch recall to 156,000 more vehicles

The recalls include certain Ford Fiesta, Fusion and Lincoln MKZ models. The company recalled about 390,000 of the three vehicle models in North America last week to fix the same issue. The driver’s door can potentially unlatch while the car is in motion, increasing the risk of injury, Ford said. Ford has said it is aware of two incidents in which an unlatched door bounced back and struck the driver