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GLOBAL MARKETS-Stocks retreat a second day on growth worries, copper slips

*Europe stocks led lower by miners, Asia closes lower. NEW YORK, May 4- Global equity markets fell for a second straight day on Wednesday on mostly weak economic data while metals prices slipped on renewed concerns of a downturn in global growth. In Europe, surveys indicated that growth in the euro zone will be slow but steady, underscoring concerns about the...

Source: Reuters

CORRECTED-GLOBAL MARKETS-World stock markets retreat for second day on growth worries

*Europe stocks led lower by miners, Asia closes lower. NEW YORK, May 4- Global equity markets fell for a second straight day on Wednesday on mostly weak economic data and metals prices slipped on renewed signs of a downturn in global growth. Benchmark copper on the London Metal Exchange was last bid down 1.0 percent at $4,869.00 a tonne.

Source: Reuters

EXCLUSIVE-CLS: adding China to FX settlement system will take years

LONDON, May 4- Integrating China's yuan with global settlement system CLS will take years, despite a pressing need in the world's $5 trillion a day foreign exchange market, although the firm's Asia head says she is gradually getting through to policymakers. Hoey acknowledged that CLS, owned by dozens of the world's largest commercial banks and a crucial and...

Source: Reuters

Apple has had good weeks in Asia… but this wasn’t one of them

Apple has faced further setbacks in its Asian business, after losing a trademark fight in China and being refused permission for a project in India.

Source: CNBC.com

GLOBAL MARKETS-World stocks in retreat for second day on growth worries

LONDON, May 4- World stocks fell for the second straight day on Wednesday and metals prices declined, pressured by signs of a renewed and prolonged global growth downturn. A deluge of lacklustre manufacturing data from across the world set off this week's selling spree, notably Chinese factory activity shrinking for the 14th straight month, British output at...

Source: Reuters

UPDATE 3-Oil edges up as Canadian wildfire reduces oil sands production

SINGAPORE, May 4- Oil prices edged up on Wednesday as an uncontrolled wildfire near Canada's oil sands region reduced production there, but overall markets were weighed down by slowing economic growth in Asia and the United States. Wednesday's higher prices followed two trading sesssions that added up to a nearly 7 percent fall for Brent and a 5 percent drop for...

Source: Reuters

PREVIEW-China April data to show more modest loan, output growth, pick-up in inflation

*Moderation seen in most April data after strong March. *New yuan loan f'cast 900.0 bln yuan vs March's 1.37 trln yuan. *Forex reserves seen easing to $3.2 trln from March $3.21 trln.

Source: Reuters

Shanghai stock index flat, nearing key resistance level

SHANGHAI, May 4- China stocks closed roughly flat on Wednesday, as the Shanghai market came under pressure near key technical resistance and after signs of subdued manufacturing activity. The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.1 percent, to 3,209.46, while the Shanghai Composite Index closed flat, at 2,991.27 points.

Source: Reuters

Bad loans and bankruptcies sound the alarm for Turkey's economy

*Slowdown could hurt support for ruling AK Party. ISTANBUL, May 4- After years of growth fuelled by credit and domestic consumption, bad debts and bankruptcies are rising in Turkey, squeezing banks and exposing a fragile real economy which risks denting support for the ruling AK Party. But as he seeks support for an executive presidency to replace Turkey's...

Source: Reuters

Why the Bank of Japan was right to damn the yen and keep its powder dry: BofA

Markets may have punished the Bank of Japan's surprise decision to stand pat on policy last week, but it was the right call, Bank of America-Merrill Lynch said.

Source: CNBC.com