EUROPE MARKETS: European Stocks, Euro Brush Past Soft Eurozone PMI Data

TODAY: May 22, 2015 PUB DATE: May 21, 2015

By Carla Mozee, MarketWatch European stocks finished modestly higher Thursday, recovering from losses that followed mixed manufacturing reports from the eurozone, including a figures pointing to slowing output growth in Germany, Europe's largest economy. The Stoxx 600 moved up 0.4% ...

Law Firm Advising Teva Dismisses Mylan Objections

TODAY: May 22, 2015 PUB DATE: May 21, 2015

Kirkland & Ellis LLP punched back at Mylan NV's attempt to disqualify the law firm from advising Teva Pharmaceutical Industries Ltd. in its bid for Mylan, dismissing the effort as an antitakeover tactic. Kirkland said its limited regulatory and litigation ...

Treasury to Sell $176 Billion in Debt

TODAY: May 22, 2015 PUB DATE: May 21, 2015

The Treasury Department will auction $176 billion in new and reopened debt next week. Details of the offerings (all with minimum $100 denominations): Tuesday: $24 billion in 13-week bills, dated May 28 and maturing Aug. 27. Cusip number is 912796GB9. ...

Republicans Ask Fed's Yellen to Testify Four Times More Per Year

TODAY: May 22, 2015 PUB DATE: May 21, 2015

By Kate Davidson Federal Reserve Chairman Janet Yellen may soon be spending a lot more time testifying on Capitol Hill. The heads of the Senate Banking Committee and House Financial Services Committee are asking Ms. Yellen to double her appearances ...

Fed Looks Past June for First Rate Hike -- Update

TODAY: May 22, 2015 PUB DATE: May 21, 2015

By Jon Hilsenrath Federal Reserve officials at their April policy meeting said in the most explicit terms yet that they are unlikely to start raising short-term interest rates in June, as seemed possible when 2015 began. Officials have been saying ...

China Factory Activity Still Weak in May -- Update

TODAY: May 22, 2015 PUB DATE: May 21, 2015

By Mark Magnier China's factories showed little sign of a rebound in May, in the latest indication that any near-term upturn in the world's second-largest economy will be driven more by stimulus than a broad-based recovery. An early private-sector measure ...

New Zealand Fails to Achieve Budget Surplus

TODAY: May 22, 2015 PUB DATE: May 21, 2015

WELLINGTON, New Zealand—New Zealand Prime Minister John Key's center-right government risked triggering voter antipathy Thursday by confirming it had failed to deliver a promised budget surplus in the current financial year. Finance Minister Bill English blamed the estimated 684 million ...

China Factory Activity Still Weak in May

TODAY: May 22, 2015 PUB DATE: May 21, 2015

An initial gauge of China's factory activity showed further sluggishness in May, though economists said government efforts to reinvigorate the economy appear to be cushioning the downward slide. The HSBC preliminary manufacturing Purchasing Managers Index rose slightly to 49.1 for ...

EUROPE MARKETS: European Stocks Slip After Soft Eurozone PMI Data

TODAY: May 22, 2015 PUB DATE: May 21, 2015

By Carla Mozee, MarketWatch European stocks drifted lower Thursday following mixed manufacturing reports from the eurozone, including a figures pointing to slowing output growth in Germany, Europe's largest economy. The Stoxx 600 shed 0.2% to 405.79, with the consumer-goods, financial, ...

Malaysia PM Unveils $72 Billion Economic Plan

TODAY: May 22, 2015 PUB DATE: May 21, 2015

KUALA LUMPUR, Malaysia—Malaysian Prime Minister Najib Razak on Thursday unveiled a $72 billion plan to revive a slowing economy amid a collapse in oil prices and political attacks from rivals over a troubled development fund. Mr. Najib said his five-year ...

Malaysia PM Najib Razak Unveils $72 Billion Economic Plan

TODAY: May 22, 2015 PUB DATE: May 21, 2015

By Jason Ng and Saurabh Chaturvedi KUALA LUMPUR, Malaysia--Malaysian Prime Minister Najib Razak on Thursday unveiled a $72 billion plan to revive a slowing economy amid a collapse in oil prices and political attacks from rivals over a troubled development ...

Euro Slightly Higher in Wake of Fed Minutes-- 2nd Update

TODAY: May 22, 2015 PUB DATE: May 21, 2015

By Josie Cox The dollar fell against the euro Thursday after U.S. Federal Reserve officials signaled they were unlikely to be ready to raise interest rates in June amid a slowdown in economic growth. Around midday, the euro was around ...

U.S. Jobless Claims Rise to 274,000

TODAY: May 22, 2015 PUB DATE: May 21, 2015

By Ben Leubsdorf WASHINGTON--The number of Americans applying for first-time unemployment benefits rose last week but remained at a low level consistent with continued improvement in the U.S. labor market. Initial jobless claims, a proxy for layoffs across the economy, ...

Polish MPC: CPI to Stay Negative in Coming Quarters - Minutes

TODAY: May 22, 2015 PUB DATE: May 21, 2015

By Martin M. Sobczyk WARSAW--Poland's annual consumer price inflation will likely stay negative in the coming quarters, according to the minutes of the May meeting of the country's Monetary Policy Council. The council left its main interest rate unchanged at ...

MARKET SNAPSHOT: U.S. Stocks Edge Higher, Eyeing Fresh Records

TODAY: May 22, 2015 PUB DATE: May 21, 2015

By Anora Mahmudova and Sara Sjolin, MarketWatch Best Buy shares surge after upbeat earnings U.S. stocks climbed on Thursday, sending the S&P; 500 into record territory as investors assessed a number of economic reports a day after the Federal Reserve ...

Lumber Set to Build on Its Rally

TODAY: May 22, 2015 PUB DATE: May 21, 2015

By Tatyana Shumsky Lumber prices are on the upswing--and a possible rebound in U.S. home building may keep them high. A government report on Tuesday showed U.S. new-home construction jumped 20.2% in April, to the highest level since November 2007. ...

U.S. Existing Home Sales Decline 3.3% in April -- Update

TODAY: May 22, 2015 PUB DATE: May 21, 2015

By Kate Davidson WASHINGTON--Sales of previously owned homes fell in April after surging the previous month, highlighting the fits and starts that have been a hallmark of the housing recovery. Existing-home sales declined 3.3% last month from March to a ...