NEW YORK (AP) — Stocks are slightly lower in the early going on Wall Street as traders ponder some negative news. Consumer spending declined slightly in April, and the University of Michigan’s consumer sentiment index fell more than analysts were expecting. The index fell to 81.9 in May from 84.9 in April. Lions Gate Entertainment and Express Inc. fell sharply after reporting results that fell short of what investors were looking for.
WASHINGTON (AP) — U.S. consumers have taken a surprise pause in spending. The Commerce Department says consumer spending fell in April for the first time in a year. But the slight 0.1 percent decline followed a 1 percent surge in March, which marked the biggest increase in more than four years. Income rose 0.3 percent last month after a 0.5 percent gain in March. The saving rate increased to 4 percent of after-tax income, up from a saving rate of 3.6 percent in March.
JOHANNESBURG (AP) — A South African mine with one of the biggest known deposits of gold in the world has halted production after two employees died in underground accidents this month. The CEO of the Gold Fields company says he hopes some operations at the mine southwest of Johannesburg can resume early next week. The mine has 4,000 employees and as many as 1,800 contractors.
LONDON (AP) — Britain’s Office of National Statistics says it’s going to start counting prostitution and the import, manufacture and consumption of illegal drugs in its quarterly calculations of gross domestic product. The statistics agency says some of those activities are legal in certain European Union countries, and comparable figures are needed. All member states need the same standard because they are used to assess a member state’s contribution to the EU budget.
BANGKOK (AP) — McDonald’s is asking protesters in Thailand to stop using its logo in their anti-coup signs. Some protesters have been replacing the “m” in democracy with golden arches. A McDonald’s in Bangkok has become a gathering place for protesters following last week’s military takeover. But the operator of McDonald’s restaurants in Thailand, McThai, says it’s trying to maintain a “neutral stance” amid the turbulence and says it could take “appropriate measures” if protesters keep using its logo.
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