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Investment firms sue exchanges in dispute on improper fee charges
(Reuters) - A group of investment firms including Citadel Securities LLC sued the Chicago Board Options Exchange Inc and four other exchanges on Wednesday for improper charges on millions of options trades over a seven-year period.

China HSBC flash PMI hits 7-mth low, fans growth fears
BEIJING (Reuters) - China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary survey of purchasing managers showed, adding to concerns that a recovery in the world's second-largest economy is sputtering.

U.S. military lawyers put more pressure on Guantanamo
MIAMI (Reuters) - Military and civilian lawyers for prisoners at the Guantanamo naval base urged U.S. Defense Secretary Chuck Hagel to improve conditions for detainees, putting more pressure on the Obama administration to make good its promise to close the camp.

America's Cup makes changes to improve safety following death
SAN FRANCISCO (Reuters) - America's Cup organizers said on Wednesday that they have made rule changes to improve safety in the upcoming regatta after a fatal training accident on San Francisco Bay earlier this month.

Merkel protégé struggles with Germany's green revolution
BERLIN (Reuters) - Chancellor Angela Merkel appointed him for his charm and political skill as marshal of her vision of a 'green revolution' in Europe's biggest power market. A year on, Peter Altmaier finds himself spurned by many environmentalists, disdained by industry and viewed coolly by a public wary of the costs.

U.S. industry touts 'drone' promise as public debate flares
WASHINGTON (Reuters) - Public backlash against deadly overseas drone strikes may undermine promising uses of such technology for anything from disaster response to mail delivery, a top U.S. industry group said as it launched a lobbying effort to "demystify" unmanned planes.

Colorado governor grants reprieve to quadruple killer on death row
DENVER (Reuters) - Colorado Governor John Hickenlooper granted a reprieve on Wednesday to the state's longest-serving death row inmate, ordering his execution blocked indefinitely in a move that infuriated prosecutors and victims' families.

China May HSBC flash PMI slips to 7-month low on weak demand
BEIJING (Reuters) - China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary survey of purchasing managers showed, adding to concerns that a recovery in the world's second-largest economy is sputtering.

New Hampshire lawmakers reject casino bill backed by governor
NEW YORK (Reuters) - New Hampshire's House of Representatives rejected a bill on Wednesday that would have authorized the construction of the state's first casino, bucking a regional trend toward easing restrictions on gaming in New England.

Merkel protege struggles with Germany's green revolution
BERLIN (Reuters) - Chancellor Angela Merkel appointed him for his charm and political skill as marshal of her vision of a 'green revolution' in Europe's biggest power market. A year on, Peter Altmaier finds himself spurned by many environmentalists, disdained by industry and viewed cooly by a public wary of the costs.

Jodi Arias jury remains deadlocked over death sentence
PHOENIX (Reuters) - Convicted killer Jodi Arias feels betrayed by an Arizona jury that found her guilty of murdering her ex-boyfriend, according to an interview aired on Wednesday shortly before that same jury became deadlocked over whether to sentence her to death.

Merck's insomnia drug moves a step closer to U.S. approval
WASHINGTON (Reuters) - Merck & Co's experimental insomnia drug moved a step closer to U.S. approval on Wednesday after a panel of medical experts said it is effective and safe at lower doses.

Ford to close Australia auto plants
SYDNEY (Reuters) - Ford Motor Co said on Thursday it is closing its two Australian auto plants and will cease production in the country in October 2016.

Delta will wait for new planes to mature: CEO
(Reuters) - Delta Air Lines is letting a wave of orders for the newest planes on the market roll by, giving the jets time to prove themselves before buying, its chief executive told Reuters on Wednesday.

Military lawyers urge Hagel to improve Guantanamo conditions
MIAMI (Reuters) - Military and civilian lawyers for prisoners at the Guantanamo naval base urged U.S. Defense Secretary Chuck Hagel to improve conditions for detainees, putting more pressure on the Obama administration to make good its promise to close the camp.

Texas lawmakers OK drug tests for some unemployment applicants
AUSTIN, Texas (Reuters) - Texas came a step closer to requiring some applicants for unemployment benefits to first undergo drug testing, when lawmakers gave final approval to a Republican-backed bill mandating such checks on Wednesday.

U.S. House votes to force approval of Keystone pipeline
WASHINGTON (Reuters) - The House of Representatives approved a bill as expected on Wednesday declaring that a presidential permit was not needed to approve the Canada-to-Nebraska leg of the Keystone XL oil pipeline, a move that would take a decision on the project away from the Obama administration.

GM recalls more than 27,000 Cadillac crossovers with wheel issue
(Reuters) - General Motors Co is recalling worldwide more than 27,000 Cadillac crossover vehicles whose wheels could fall off due to potentially loose wheel nuts.

Los Angeles mayor-elect vows to put recession in rear-view mirror
LOS ANGELES (Reuters) - Los Angeles Councilman Eric Garcetti declared victory Wednesday in his bid to become the next mayor and vowed to put the city's economic slump "in the rear-view mirror," capping a race shaped by dire fiscal forecasts and questions about the political clout of organized labor.

Obama to lay out rationale for drone strikes in speech
WASHINGTON (Reuters) - President Barack Obama will lay out the rationale for U.S. drone strikes in a speech on Thursday, a White House official said.