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Friday, May 12, 2017

World stocks retreat from record highs as valuations give cause for a pause

LONDON (Reuters) - Global stocks paused near record highs as worries over China's banking system provided an excuse for investors to lock in some profits. The dollar was set for its best week of the year on bets the Federal Reserve will raise U.S. interest rates in June.

Futures slip with focus on retail sector

(Reuters) - U.S. stock index futures were lower on Friday ahead of a barrage of economic data, including a report on retail sales that is closely watched by investors to gauge the strength of the economy.

Fiat Chrysler recalls 1.25 million trucks for software error

WASHINGTON (Reuters) - Fiat Chrysler Automobiles NV said Friday it would recall more than 1.25 million pickup trucks worldwide to address a software error linked to reports of one crash death and two injuries.

U.S., China agree to first trade steps under 100-day plan

WASHINGTON/BEIJING (Reuters) - The United States and China have agreed to take action by mid-July to increase access for U.S. financial firms and expand trade in beef and chicken among other steps as part of Washington's drive to cut its trade deficit with Beijing.

Top-10 Glaxo investor Woodford sells out, criticises board

LONDON (Reuters) - British fund manager Neil Woodford said on Friday he had sold out of pharma company GlaxoSmithKline after a "frustrating" stint as an investor spanning more than 15 years.

GE's Immelt bets big on digital factories, shareholders are wary

GROVE CITY, Penn. (Reuters) - At a General Electric Co factory in this rural town, Keith Spahn, 60, used to take measurements of parts from railroad locomotives that are in for repair by hand.

U.S. judge calls for criminal probe into trade secrets theft raised in Uber case

SAN FRANCISCO (Reuters) - A U.S. judge on Thursday called for an investigation into allegations of trade secret theft that were raised in a court battle between Silicon Valley giants Uber [UBER.UL] and Alphabet over their rival self-driving car programs.

At G7, world finance chiefs are trying to gauge Trump's plans

BARI, Italy (Reuters) - Finance chiefs from some of the world's richest nations began a two-day meeting in Italy on Friday, with Europe, Japan and Canada hoping to come away with a clearer picture of U.S. President Donald Trump's plans on important policies.

U.S. used-car glut is a dealer’s dream, automakers’ nightmare

ORWELL, Ohio (Reuters) - Three years ago if a customer walked onto Dan Reel's used car lot seeking a late-model off-lease Ford Escape, his answer was short: tough luck.

South Korea orders major Hyundai, Kia recall after whistleblower report

SEOUL (Reuters) - South Korea ordered Hyundai Motor Co and affiliate Kia Motors Corp to recall 240,000 vehicles over safety defects flagged by a whistleblower - a sharp slap on the wrist that will exacerbate reputational woes for the automakers.