TOP STORIES 
 
CABLE GIANT FORMING AFTER $55 BILLION DEAL 

Charter Communications agreed to buy Time Warner Cable for $55 billion, giving cable mogul John Malone the prize he has been chasing for two years.

U.S. STOCKS SHARPLY LOWER 

Stocks sank after a mixed bag of U.S. economic data underscored investor unease with the recent pace of economic growth.

DURABLE ORDERS SLIP, BUT BUSINESS SPENDING FIRMS UP 

Demand for big-ticket manufactured goods fell last month, but underlying figures suggest business investment is slowly starting to pick up.

GREECE READY TO PAY NEXT IMF TRANCHE 

Greece will make its next payment to the International Monetary Fund on June 5 as the country will have reached an agreement with its creditors by then, Finance Minister Yanis Varoufakis said.

U.S. NEW-HOME SALES CLIMB 6.8% IN APRIL 

Sales of newly built homes rebounded in April, a sign the housing market may be slowly warming up.

HOME PRICES CONTINUE TO CLIMB 

Home prices continued their unremitting climb in March, underscoring concerns of some economists over whether the strong price gains are sustainable.

U.S. CONSUMER CONFIDENCE EDGES UP TO 95.4 IN MAY 

Consumers turned slightly more upbeat this month after taking a dimmer view of the economy in April. The Conference Board's index of consumer confidence increased to 95.4 for May from a revised 94.3 in April.

TD BANK TO BUY NORDSTROM U.S. CREDIT-CARD PORTFOLIO 

Toronto-Dominion Bank will acquire Nordstrom Inc.'s U.S. Visa and private-label consumer credit card portfolio as part of a long-term deal to become the retailer's exclusive U.S. credit card issuer.

EMC TO ACQUIRE VIRTUSTREAM FOR $1.2 BILLION 

EMC reached a deal to acquire privately held Virtustream for $1.2 billion, a move that may suggest a corporate breakup isn't looming.

DEADLY FLOODING HITS TEXAS AND OKLAHOMA 

Record rainfall and heavy flooding in Texas and Oklahoma killed at least six people and displaced thousands. About a dozen people were missing from a two-story house near Austin, Texas.

 
 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Asia News 
CHINA TO EXPAND NAVY AMID U.S. TENSIONS 
 

China outlined plans to shift its armed forces' focus toward maritime warfare and accused foreign countries of "meddling" in the South China Sea, setting the stage for a tense confrontation between senior U.S. and Chinese defense officials at a security conference this weekend.

 
Europe News 
CAMERON, JUNCKER START TALKS ON U.K. IN EU 
 

British Prime Minister David Cameron and European Commission President Jean-Claude Juncker have met ahead of negotiations on Britain's position in the European Union and a referendum on its membership.