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Wall Street flat as investors eye Europe

NEW YORK (Reuters) - Stocks were little changed on Thursday following a choppy futures session as investors focused on concerns about Spain's economy and banking system and reacted to headlines from Greece. The Dow Jones industrial average dropped 5.00 points, or 0.04 percent, to 12,593.55. The Standard & Poor's 500 Index dropped 0.28 points, or 0.02 percent, to 1,324.52. The Nasdaq Composite Index gained 0.78 points, or 0.03 percent, to 2,874.82. (Reporting By Edward Krudy, editing by Dave Zimmerman)
Jobless claims steady, labor worries persist

WASHINGTON (Reuters) - New claims for unemployment benefits were unchanged last week, according to government data on Thursday that will do little to ease concerns about a recent slowdown in jobs growth. Initial claims for state unemployment benefits held steady at a seasonally adjusted 370,000, the Labor Department said. The prior week's figure was revised up to 370,000 from the previously reported 367,000. Economists polled by Reuters had forecast claims falling to 365,000 last week. ...
Analysis: Facebook can't take Asian growth for granted

SINGAPORE (Reuters) - Even as Facebook fever grips investors ahead of the social networking giant's potential $100 billion-plus initial public offering, its breakneck growth in Asia may be slowing as it moves beyond desktop users to those who access the Internet largely or solely from a mobile phone. In March, Facebook revised its own SEC filings to scale back its scope for further growth in India - its third-biggest user base and the largest population it currently has access to - China remains off-limits to Facebook. ...
Wal-Mart posts strong profit as U.S. sales jump

(Reuters) - Wal-Mart Stores Inc posted a better-than-expected quarterly profit on Thursday as more people shopped its established U.S. discount stores and spent more money. The world's largest retailer, which was recently rocked by allegations of bribery in Mexico, earned $1.09 per share from continuing operations, compared with a profit of 98 cents a year earlier. An earlier Easter and warmer weather contributed to the gains, the company said. Wal-Mart had forecast earnings per share of $1.01 to $1.06. Analysts, on average, expected it to earn $1. ...
Berkshire Hathaway buying Media General newspapers

(Reuters) - Warren Buffett's Berkshire Hathaway is making another bet on the newspaper industry, with a deal to buy the majority of Media General Inc papers for $142 million in cash. Buffett's Berkshire Hathaway Inc also agreed to loan $400 million to the company, which also owns television stations, and provide a $45 million credit line. Media General will also issue warrants for approximately 4.6 million Class A shares, representing 19.9 percent of Media General's existing shares outstanding. The 63 daily and weekly newspapers scattered throughout the U.S. ...
Europe's banks on the brink

LONDON, May 17 (IFR) - The euro zone crisis was in full swing when Jean-Claude Trichet took the podium in Berlin last October 6 for his final press conference as president of the European Central Bank. Having helped create one of the longest periods of price stability in the history of central banking, Trichet was closing out his eight-year reign under siege. Soaring oil prices had made a mockery of the bank's superlative record on inflation, while the worst recession on the continent since World War II had morphed into a full-scale sovereign debt crisis. ...
Delta Air to trim capacity on trans-Atlantic routes
(Reuters) - Delta Air Lines will cut capacity on trans-Atlantic routes 5 percent after Labor Day, airline President Ed Bastian said on Thursday. Speaking on a webcast of a Merrill Lynch transportation conference, Bastian said the company's total full-year capacity -- the number of seats it sells -- will be down 3 percent to 4 percent. The second-largest U.S. airline had previously said it would cut its 2012 capacity 2 percent to 3 percent. The airline industry has been battered in recent years by soaring fuel costs. ...
Acura recalls over 56,000 cars in N. America
(Reuters) - Honda Motor Co Ltd's Acura brand is recalling 56,881 TL sedans from model years 2007 and 2008 in North America to replace a power steering hose that could leak over time and potentially cause a fire. The recall affects 52,615 TL sedans in the U.S. and another 4,266 in Canada, the Japanese automaker said. Acura said the hose may deteriorate and leak over time. Leaking fluid could lead to a loss of power steering assistance or could cause smoke and fire, the Japanese automaker said. Acura said no crashes, injuries or fires have been reported related to the issue. ...
No respite for HP, Dell in Windows 8: BMO
(Reuters) - Microsoft's long-awaited launch of the Windows 8 OS may not change the fortunes of PC makers, BMO analysts said, lowering their price targets on the stocks of Hewlett-Packard Co and Dell Inc . PC sales have been tepid for most of the last year. But volumes registered a surprise 1.9 percent growth in the first quarter of this year, according to Gartner. Windows 8 OS's long-awaited launch this year is widely expected to boost PC sales. But BMO was less optimistic. "Windows 8 will prove to be a disappointment, at least out of the gate," analyst Keith Bachman wrote in a note. ...

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