Wall Street shrugs off data to edge up at open

NEW YORK (Reuters) - Stocks edged up at the open on Thursday as investors brushed off tepid economic data and focused on buying beaten-down shares after a drop of more than 5 percent for the S&P 500 this month.

Jobless claims little changed last week

WASHINGTON (Reuters) - New claims for unemployment benefits fell slightly last week, while two reports on manufacturing suggested the economy continued to expand moderately.

Analysts back Hewlett Packard's layoff plans

(Reuters) - Analysts said Hewlett Packard Co's plan to cut jobs was a step in the right direction but the PC maker will have to do more to regain investors' confidence.

Dow wins $2.16 billion in Kuwait arbitration

(Reuters) - Kuwait's state-run chemical company must pay Dow Chemical Co $2.16 billion under an arbitrator's ruling for wrongly cancelling a planned plastics joint venture in 2008, Dow said on Thursday.

Tiffany, Signet forecasts disappoint, economy slowing

(Reuters) - Tiffany & Co lowered its fiscal-year sales and profit forecasts on Thursday, citing slowing economic growth in many countries and weakness in its home market, and the upscale jeweler's shares fell almost 7 percent.

MasterCard loses card fee challenge, Visa Europe next

LUXEMBOURG (Reuters) - Mastercard lost a challenge to an EU ban on its cross-border card fees in a ruling that puts rival Visa Europe squarely in the sights of the European regulators over its charges.

EU court to rule on $1.1 billion Microsoft fine on June 27

LUXEMBOURG (Reuters) - Europe's second-highest court will rule on June 27 whether EU regulators were justified in fining Microsoft 899 million euros ($1.1 billion) four years ago for failing to comply with an antitrust ruling intended to make business easier for its rivals.

Europe's slump deepens, U.S., China lose momentum

LONDON/NEW YORK (Reuters) - The shadows over the global economy darkened this month as the euro zone's private sector contracted, U.S. manufacturing growth slowed and China's once-booming factories faltered, surveys showed on Thursday.

EU urges Greece to stay in euro, plans for possible exit

BRUSSELS (Reuters) - European Union leaders, advised by senior officials to prepare contingency plans in case Greece decides to quit the single currency, urged the country to stay the course on austerity and complete the reforms demanded under its bailout program.

Shareholders sue Facebook, NYSE comes calling

SAN FRANCISCO (Reuters) - The fallout from Facebook Inc's messy initial public offering widened on Wednesday as shareholders sued the social network and its bankers while a trading firm revealed a massive loss on the shares and threatened to seek "remedies."