May 7, 2015 / 3:08 PM / 2 years ago

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TOP STORIES

U.S. appeals court says NSA phone surveillance exceeded Congressional authorization

A U.S. appeals court says national security agency’s bulk telephone metadata program exceeds what congress authorized. (USA-SECURITY/NSA (UPDATE 1), moved, by Jonathan Stempel, 550 words)

Goldman Sachs must face $120 mln fraud suit over mortgage securities-court

New York’s top state court revives a bond insurer’s $120 million lawsuit claiming Goldman Sachs & Co lied about a pool of subprime mortgage-backed securities in the time leading up to the financial crisis. (MBS-GOLDMAN/LAWSUIT (UPDATE 1), moved, by Daniel Wiessner, 400 words)

MARKETS

Wall St mixed as positive jobs data offsets bond rout

Wall Street mixed in choppy early trading as better-than-expected U.S. jobs data led U.S. Treasuries to trim gains, giving the markets some relief from the rout in global bond markets. (MARKETS-STOCKS/USA (UPDATE 2), updates through day, 398 words)

+ See also:

- MARKETS-GLOBAL/ (WRAPUP 6), updates through day, 805 words

Fed wary of bond ‘cliff,’ plans cautious cuts to portfolio

NEW YORK/SAN FRANCISCO - The Federal Reserve is sketching out plans to prevent an abrupt contraction in its massive balance sheet next year, when some $500 billion in bonds expire and risk disrupting markets and the U.S. economic recovery. (USA-FED/PORTFOLIO, moved, by Jonathan Spicer and Ann Saphir, 800 words)

UK markets bet on election gyrations, calm for now

LONDON- The cost of protection against overnight swings in the British pound jumps to its highest in five years as Britons headed to vote in the most unpredictable general election for decades. (BRITAIN-ELECTION/MARKETS (UPDATE 2), expect by 1430 GMT/10:30 AM ET, by Anirban Nag, 550 words)

ENERGY

Gas prices or economy, experts disagree on what drives U.S. demand

NEW YORK - Americans hit the road in record numbers this winter, reigniting a long debate that may determine whether global oil markets hold steady or tumble anew. But many economists and academics are split on whether prices matter when it comes to gasoline demand. (USA-GASOLINE/DEMAND (ANALYSIS), moved, By Jarrett Renshaw, 826 words)

+ See also:

- MARKETS-OIL/(UPDATE 7), updates through day, 272 words)

INSIGHT

Safety switches may redeem potent CAR T cancer therapies

NEW YORK - New therapies that clinical data show can eliminate blood cancers such as leukemia and lymphoma in 40 percent to 90 percent of patients may have to be genetically modified to include a switch that shields healthy cells from attack. (CANCER-SWITCHES/ (INSIGHT, GRAPHIC, TV), moved, by Ransdell Pierson, 1,130 words)

+ See also:

- CANCER-SWITCHES/ (FACTBOX), moved, 335 words

ECONOMY

U.S. jobless claims hold near 15-year low

WASHINGTON - The number of Americans filing new claims for unemployment benefits holds near 15-year low in sign the labor market continues to strengthen despite moderate economic growth. (USA-ECONOMY/ (WRAPUP 2), expect by 1530 GMT/11:30 AM ET, by Lucia Mutikani, 550 words)

Dogs, guns and weddings help U.S. investors take economy’s pulse

When Kim Forrest attends dog shows, she is there not just for her two wirehaired pointing griffons. She is also doing research for her day job as a portfolio manager and equity analyst. Forrest, who works for the Pittsburgh-based Fort Pitt Capital Group, believes participation in dog shows is as middle class as it gets and as such is a great economic gauge.(USA-ECONOMY/INDICATORS, moved, By Jessica Toonkel, 772 words)

World food prices fall to near 5-year low in April - UN FAO

ROME - Global food prices fell in April to their lowest since June 2010, as dairy led most commodities down, the United Nations food agency says. (GLOBAL-OMY/FOOD (UPDATE 1), moved, 230 words)

COMPANIES

Priceline profit slightly up, expects slower growth in second quarter

The Priceline Group Inc reports first-quarter profit that was up slightly from a year ago, but expects growth to slow in the second quarter as weak foreign currencies relative to the U.S. dollar crimp its sales. (PRICELINE GROUP-RESULTS/ (UPDATE 2), expect at 1530 GMT/11:30 AM ET, by Jeffrey Dastin, 380 words)

Alibaba revenue beats estimates, CEO Lu to step down

Alibaba Group Holding Ltd’s quarterly revenue rose 45 percent, beating analysts’ expectations, as the Chinese e-commerce company reported a jump in gross merchandise volume. (ALIBABA-RESULTS/ (UPDATE 2, PICTURE), moved, by John Ruwitch and Paul Carsten, 400 words)

Lumber Liquidators to suspend sales of Chinese laminate flooring

Hardwood retailer Lumber Liquidators Holdings Inc says it will suspend sales of all laminate flooring sourced from China, following allegations that the products contain excessive levels of cancer-causing formaldehyde. (LUMBER LIQUIDATE-CHINA/ (UPDATE 3), moved, By Siddharth Cavale, 340 words)

Bombardier to list rail unit; business jet stumbles

Bombardier Inc outlines plans to list a minority stake in its rail unit, as it reports a quarterly profit that topped market expectations while warning it will cut production of its profitable Global business jets. (BOMBARDIER-IPO/ (UPDATE 4), moved, By Allison Martell and Sneha Banerjee, 484 words)

Kate Spade Posts slowest sales growth in 7 quarters on fewer promotions

Handbag maker Kate Spade & Co reports its slowest sales growth in seven quarters and warns that same-store sales growth could slow this year as it cuts back on promotions in North America. (KATE SPADE & CO-RESULTS/ (UPDATE 2), moved, 393 words)

Orbitz reports 1st-qtr loss; revenues miss estimates

Orbitz Worldwide Inc reports a quarterly loss, missing analysts’ expectations of a profit as a rise in fraudulent transactions added to costs. (ORBITZ WORLDWIDE-RESULTS/ (UPDATE 1), moved, By Jeffrey Dastin, 212 words)

J&J to consult ethicists on requests for experimental drugs

NEW YORK - Johnson & Johnson will become the first pharmaceutical company to formally seek advice from outside medical ethicists on “compassionate use” requests, in which desperate patients ask drugmakers to let them take an experimental medication. (JOHNSON&JOHNSON-ETHICS/, moved, By Sharon Begley, 412 words)

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