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Here are 10 things you should know for Thursday, June 2:
1. -- U.S. stock futures were pointing to a higher opening for Wall Street on Thursday and European stocks posted tentative gains ahead of a meeting of the European Central Bank.
Asian shares ended the session mixed but Japanese stocks tumbled 2.3% following a decision by Prime Minister Shinzo Abe to postpone a sales tax hike.
2. -- The economic calendar in the U.S. Thursday includes the ADP National Employment Report for May at 8:15 a.m. EDT, and weekly Initial Jobless Claims at 8:30 a.m.
3. -- U.S. stocks on Wednesday finished mixed as equities struggled to hold slight highs in the closing minutes of the session after the latest evaluation of the U.S. economy from the Federal Reserve offered little certainty on the outlook of interest rates.
The S&P 500 was up 0.10%. The Dow Jones Industrial Average rose 0.01%, while the Nasdaq gave back 0.01%.
4. -- Crude oil prices in the U.S. rose 0.4% early Thursday to $49.20 a barrel as OPEC ministers tempered expectations of a production deal as they headed into a meeting to discuss output policies.
The 13-nation cartel was widely expected to stick to the hands-off policy it has pursued for the past 18 months, but a last-minute proposal emerged on Wednesday to reintroduce a collective output ceiling, The Wall Street Journal reported. The Organization of Petroleum Exporting Countries had scrapped output targets at its last meeting in December, a move that contributed to oil prices hitting 13-year lows over the winter, the Journal noted.
On Thursday, energy ministers said they would take up the debate behind closed doors at their headquarters here in Vienna. Nigeria, Algeria, Venezuela and Qatar want a ceiling setting an overall output target for OPEC, but Iran, which like all OPEC members holds a veto over decisions, said it was opposed.
5. -- Ride-hailing company Uber said it received a fresh $3.5 billion investment from Saudi Arabia's sovereign investment fund at it looks to the Middle East for its next wave of growth.
San Francisco-based Uber, which is privately held, said the investment from the Saudi Arabian Public Investment Fund was part of its most recent fundraising that valued it at $62.5 billion.
"We appreciate the vote of confidence in our business as we continue to expand our global presence," said Uber CEO Travis Kalanick in a statement.
6. -- Japan's SoftBank (SFTBY) said it arranged to sell $8.9 billion of securities in Chinese e-commerce giant Alibaba (BABA) - Get Report ,and more if participants in a private placing take an option over additional debt.
Softbank, the telecommunications and Internet company, said the disposal included the sale of $500 million of ordinary Alibaba shares to each of Singapore's GIC and Temasek, with the latter's investment coming on top of the $500 million it said Wednesday it would sell to a then-unidentified sovereign wealth fund. SoftBank also shifted $5.5 billion of its Alibaba interest in the form of mandatory exchangeable trust securities, which it sold to institutional investors. Those investors have an option on another $1 billion of the debt securities.
SoftBank said on Wednesday it was selling the Alibaba stock to cut debt.
7. -- Elon Musk, CEO of SpaceX and Tesla(TSLA) - Get Report , said SpaceX may be able to have people on Mars by 2025. More specifically, he expects to launch a manned mission to Mars in 2024, which would arrive in 2025, TechCrunch reported.
Musk, who made the comments at Vox Media's Code Conference on Wednesday, said SpaceX plans to start running the second version of its Dragon mission next year, which is capable of sending up to seven astronauts into space. He then expects the company to start missions to Mars with the Dragon V2 in 2018, though it won't necessarily start carrying astronauts just yet, TechCrunch reported.
"The 2018 mission will be a Dragon V2, I wouldn't recommend traveling to Mars in that," Musk said at the conference. "It has the interior volume of an SUV. This will be a very big rocket. And it also doesn't have the capability of getting back to earth. We'll put that in fine print."
8. -- Federal regulators proposed a significant clampdown on payday lenders and other providers of high-interest loans, saying borrowers need to be protected from practices that wind up turning into "debt traps" for many, the Associated Press reported.
The Consumer Financial Protection Bureau's proposed regulations, announced Thursday, seek to tackle two common complaints about the payday lending industry.
The CFPB proposed that lenders must conduct what's known as a "full-payment test." Because most payday loans are required to be paid in full when they come due, usually two weeks after the money is borrowed, the CFPB wants lenders to prove that borrowers are able to repay that money without having to renew the loan repeatedly.
Secondly, the CFPB would require that lenders give additional warnings before they attempt to debit a borrower's bank account, and also restrict the number of times they can attempt to debit the account. The aim is to lower the frequency of overdraft fees that are common with people who take out payday loans, the AP reported.
"Too many borrowers seeking a short-term cash fix are saddled with loans they cannot afford and sink into long-term debt," CFPB Director Richard Cordray said in a prepared statement.
9. -- Oracle(ORCL) - Get Reportwas sued on Wednesday by a former senior finance manager who claimed she was terminated in retaliation for complaining about improper accounting practices in Oracle's cloud services business, Reuters reported.
In a complaint filed in U.S. District Court in San Francisco, the former executive, Svetlana Blackburn, accused upper management of trying to push her to "fit square data into round holes" to make Oracle Cloud Services' results look better.
"We don't agree with the allegations and intend to vigorously defend the matter," Oracle spokeswoman Deborah Hellinger told Reuters.