WRAPUP 4-U.S. economy contracts in Q1; dollar hurts corporate profits *First-quarter GDP revised down to show contraction. *GDP shrinks at a 0.7 percent annual rate. WASHINGTON, May 29- The U.S. economy contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls, a resurgent dollar and disruptions at West Coast ports, but activity already has rebounded modestly.
| By: Lucia Mutikani
Rough close for Europe CNBC's Simon Hobbs reports on all the market moving events in Europe today, including action in Greece.
Studios for up and coming YouTube stars Ipsy is taking business further into the digital space with the launch of Ipsy Open Studios. YouTube star Michelle Phan, and Ipsy CEO Marcelo Camberos, discuss the opportunity of the online space.
UPDATE 1-U.S. sues to block merger of Steris Corp, Synergy Health WASHINGTON, May 29- The U.S. Federal Trade Commission filed a lawsuit on Friday aimed at stopping the $1.9 billion merger of medical technology provider Steris Corp and British sterilization services provider Synergy Health Plc, according to the agency, which enforces antitrust law. Synergy Health and Steris, both of which provide contract sterilization...
| By: Diane Bartz
UPDATE 1-Mobile apps turn bedroom traders into star professionals *Online apps and websites revolutionising trading. LONDON, May 29- When Noa Strijbos picks a financial asset to trade on her smartphone while taking her dog for a walk, almost 26,000 people pay close attention. Regulators are cracking down on the murkier parts of tech-driven trading, and recently a trader from the London suburbs has been accused of helping to...
| By: Atul Prakash