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On the Calendar:  Wednesday, 6/3/2015 12:00 PM
LET'S GET FIT: Join us for Workout Wednesdays at the library June-July. Group exercises in the meeting room. Wear comfortable shoes and appropriate workout clothes. Calendar

Business
News provided by Yahoo
Asia stocks subdued, euro and Aussie stand tall

A pedestrian is reflected in an electronic board showing the various stock prices outside a brokerage in TokyoBy Shinichi Saoshiro TOKYO (Reuters) - A spike in U.S. and German debt yields reduced the appetite for riskier assets to keep Asian share markets subdued on Wednesday, while the euro held gains made on upbeat euro zone inflation data and on hopes that Greece will reach a deal with creditors. The Australian dollar rallied after strong GDP data further cooled prospects of a near-term interest rate cut. Japan's Nikkei lost 0.3 percent and Australian shares shed 1.1 percent.

Wed, 03 Jun 2015 01:23:30 -0400
ECB to press case for steady QE, may urge Greece to accept deal

General view of exterior of ECB building on inaugural of it's new headquarters in FrankfurtBy Balazs Koranyi and John O'Donnell FRANKFURT (Reuters) - The European Central Bank is set to raise its inflation forecast on Wednesday, saying that its trillion-euro-plus asset buying program is already paying off, and may urge Greece to accept a new deal from its creditors to access fresh aid. In what could be the bank's least eventful meeting in months, the ECB is set to keep rates on hold, confirm its growth forecasts, make the case for a steady pace in quantitative easing and discuss Greece only briefly, leaving most of the talking to Brussels. The bank will announce its rate decision at 1145 GMT (7.45 a.m. EDT) and Mario Draghi, its president, will hold a press conference at 1230 GMT.

Wed, 03 Jun 2015 02:35:29 -0400
Pimco shifts focus to capital preservation, likes Aussie bonds

The headquarters of investment firm PIMCO is shown in this photo taken in Newport Beach, California January 26, 2012.Bond fund manager Pimco has turned to Australian government bonds and short-term Japanese government debt as it looks not only for yield, but to protect its capital in an uncertain global fixed-income environment. The U.S. fixed-income house, which until recently managed the world's largest bond fund, has cut the duration of its portfolio by half in the past year, sought assets across geographies, and gone for bonds that will prove resilient if economic conditions deteriorate. Duration is the weighted-average maturity of a bond after taking into account all its cash flows.

Wed, 03 Jun 2015 01:53:55 -0400
Greece will not pay IMF on Friday without prospect of a deal: lawmaker

An EU flag and a Greek national flag flutter as the ancient Parthenon temple is seen in the background in AthensGreece will not make a June 5 repayment to the International Monetary Fund if there is no prospect of an aid-for-reforms deal with its international creditors soon, the spokesman for the ruling Syriza party said on Wednesday. "If there is no prospect of a deal by Friday or Monday, I don't know by when exactly, we will not pay," Nikos Filis told Mega TV.

Wed, 03 Jun 2015 03:30:26 -0400
Investors piling into volatility funds bet on more anxiety ahead

Traders work on the floor of the New York Stock Exchange shortly after the opening bellBy Ashley Lau NEW YORK (Reuters) - The U.S. stock market has been strangely calm this year, much to the chagrin of investors who have been betting billions on volatility. The CBOE Volatility Index, or VIX, is down about 30 percent year-to-date, even though some investors have been expecting a rockier stock market as the Federal Reserve gets ready to raise interest rates and the six-year-old bull market ages. "Right now volatility is at that level because no one is talking in panic terms," said Andrew Wilkinson, chief market analyst at Interactive Brokers Group in Greenwich, Connecticut.

Wed, 03 Jun 2015 01:55:15 -0400
Takata will 'rapidly' cut production of volatile air bag chemical

Kennedy testifies at a hearing of a House Energy and Commerce Subcommittee on the Takata airbag recall, on Capitol Hill in WashingtonWASHINGTON/DETROIT (Reuters) - Takata Corp will "rapidly" reduce production of a volatile chemical that has been linked to ruptured air bag inflators, a company executive told U.S. lawmakers on Tuesday. The chemical, ammonium nitrate, "appears to be one of the factors" contributing to inflator ruptures linked to six deaths and hundreds of injuries, Kevin Kennedy, executive vice president of Takata subsidiary TK Holdings, said. Kennedy told a House subcommittee that Takata has "alternate propellants now with guanidine nitrate.

Tue, 02 Jun 2015 18:38:23 -0400
Exclusive: Teva poised to raise its stake in Mylan - sources

Teva plant is seen in JerusalemTeva Pharmaceutical Industries Ltd is looking to buy more shares in Mylan NV , positioning itself for a possible legal challenge to the generics drugmaker that has spurned its takeover bid, people familiar with the matter said. The strategy is a sign of Teva's commitment to its $40 billion bid for Mylan, as the latter presses on with its own $34 billion hostile bid for over-the-counter drug company Perrigo Company Plc . Teva last week disclosed a 1.8 percent stake in Mylan, which blasted the move as breaching U.S. antitrust laws because of the stake's size.

Tue, 02 Jun 2015 18:22:34 -0400
U.S. factory orders weak; robust auto sales a bright spot

Chrysler Group LLC assembly worker Rudolph puts together an engine for a 2014 Ram 1500 pickup truck on the assembly line at the Warren Truck Plant in WarrenNew orders for U.S. factory goods fell in April on weak demand for transportation equipment and other goods, suggesting that manufacturing remained constrained by a strong dollar and spending cuts in the energy sector. The outlook for manufacturing and the broader economy, however, got a lift from another report on Tuesday showing automobile sales in May rising at their briskest pace in a decade. "The outlook for manufacturing is modestly positive.

Tue, 02 Jun 2015 16:25:38 -0400
At JPMorgan, voicemail deemed obsolescent

A view of the exterior of the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New YorkVoicemail is going the way of the typewriter, at least at JPMorgan Chase & Co . The Wall Street bank is eliminating voicemail for thousands of employees who do not take calls from customers, at a savings of $10 a month per person, Gordon Smith, chief executive of the company's consumer banking operations, said at an investor conference on Tuesday. "We started to cut those off." The service is being cut only for employees who do not deal directly with customers, spokeswoman Patricia Wexler said later.

Tue, 02 Jun 2015 16:33:10 -0400
U.S. expects commercial data-sharing deal with EU 'very soon'

An EU flag and an U.S. flag are pictured in BerlinThe United States expects it will be able to clinch an agreement "very soon" with the European Union on a deal allowing companies to easily transfer data across the two blocs, a U.S. government representative said on Tuesday. The European Commission, the EU executive, reopened the Safe Harbour agreement, which makes it easier for companies to transfer EU citizens' data to the United States, after revelations about U.S. mass surveillance activities involving European citizens sent shockwaves across the continent.

Tue, 02 Jun 2015 16:26:08 -0400
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