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US STOCKS-Futures flat, indexes on track to close week lower

U.S. stock index futures were little changed on Friday, though recent weakness was enough to put the Dow and S&P 500 on track for their first weekly decline after three consecutive weeks of gains. * While both the Dow and S&P hit a series of record highs this week, Wall Street has lately been pressured by concerns of slowing global growth and ongoing violence in Iraq, which has taken oil prices to their highest since September. * The S&P has fallen for three straight days, its longest streak of declines since early April. However, it has dropped just 1.1 percent over that period, and many view the market's recent trend upward as intact. * Technology shares will be in focus a day after Intel Corp raised its full-year revenue outlook, citing stronger-than-expected demand for personal computers used by businesses. Shares of the Dow component rose 4.7 percent to $29.27 in premarket trading. * Another positive catalyst may come at 9:55 a.m. EDT (1355 GMT), with the pre

Silicon Valley's latest perk: World Cup viewing parties at work

Theme lunches, giant TVs and viewing parties. Silicon Valley may be far from the World Cup in Brazil but tech employees are getting in on the globe's most prestigious soccer event. Twitter, LinkedIn and Nvidia are among several tech companies airing matches in their offices during the next month and encouraging employees to follow the action. The World Cup has made inroads in the United States, although employees at many companies must be circumspect about getting their fix. But some tech companies, famous for giving their engineers everything from gourmet food to on-site hairdressers, World Cup fever's penetration is reminiscent of Latin America or Europe, where the tournament captivates the public. Redwood City's Evernote, which makes note-taking software, dished up traditional Brazilian Feijoada meat stew and bolo de fuba cornmeal cake for lunch while Thursday's opening match between Brazil and Croatia played on projector TVs. As the tournament progresses, with

UPDATE 1-UK construction data revised higher, policy moves may hold sector back

British construction output grew faster than previously thought in the first quarter, new figures showed on Friday, but could slow in the next three months, particularly after the government took steps to cool the housing market. Finance minister George Osborne said on Thursday that he would give the Bank of England stronger powers to curb mortgage lending, while BoE Governor Mark Carney said interest rates could rise sooner than financial markets expect. The comments sent sterling and short-dated British government bond yields soaring and caused shares to plunge, with housebuilders particularly hard hit. Some 1.7 billion pounds ($2.85 billion) has been wiped off the value of the six housebuilders and two property groups. Economists say Osborne's announcement means the Bank may adopt a more direct approach when trying to curb mortgage lending. It is expected to announce more controls after its Financial Policy Committee meeting next week. The moves should help take some heat o

Porsche takes on Audi at Le Mans, intensifying VW sibling rivalry

Porsche will return to the Le Mans sports car race for the first time in 16 years on Saturday, intensifying its rivalry with Volkswagen stablemate Audi and putting the parent company's fondness for internal competition to the test. Volkswagen (VW), Europe's biggest carmaker with vehicles ranging from trucks and cheap Skodas to high-end sports cars, is widely viewed by industry analysts as the model for how to manage a variety of brands within a single group. But with Audi striving to maintain its challenge to world No. 1 luxury carmaker BMW, some are questioning whether now is the right time to instigate a new battle with its sports car sibling. Putting two teams into the 24-hour Le Mans race on June 14-15, one of the greatest tests of endurance for cars and drivers, could cost VW as much as 50 million euros ($68 million), a company source told Reuters, asking not to be identified because the matter is confidential. What's more, it risks exacerbating tensions that are

UK markets scramble to price in 2014 rate rise after Carney warning

Investors braced on Friday for a UK interest rate hike later this year, pushing sterling to five-year highs and hurting property stocks, after the head of the Bank of England said rates may rise sooner than markets predict. Governor Mark Carney's surprisingly stark warning late on Thursday prompted investors to bring forward expectations for a first BoE rate hike by nearly four months, to December from the first quarter of 2015. Sterling's trade-weighted index posted its biggest one-day rise in four months, hitting 5 1/2-year highs. Short-dated UK government bond yields were on track for their biggest daily gain in more than three years. A rate hike by the end of 2014 is likely to come at least six months before the U.S. Federal Reserve tightens policy. It would contrast sharply with the European Central Bank, which cut rates last week and is likely to ease policy in the coming months. "The BoE seems to be slightly ahead of the Fed as far as rate hikes are concerned,&

UPDATE 1-GM issues another ignition switch recall, for Chevy Camaros

General Motors Co recalled 511,528 Chevrolet Camaros on Friday for an ignition switch problem similar to the defect linked to at least 13 deaths in Chevrolet Cobalts and other models. GM said it was aware of minor accidents but no fatalities from the Camaro, a sporty two-door car. It said the Camaro switch defect differed from the problem in the Cobalts, but a consumer advocate said GM still should have recalled the Camaros sooner. GM said a driver's knee could bump the Camaro key fob and move the ignition switch out of the "run" position, causing the engine to shut off. The earlier recall of Cobalts and other small cars involved an ignition switch in which a bump of the key fob could turn off the engine, disabling power steering and airbags. That defect, first observed by GM engineers in 2002, was not reported to consumers for years. Chief Executive Mary Barra in recent months overhauled the way GM handles safety recalls. The Camaro recall bloats the number of GM v

Ukrainian forces surround rebel-held port city

Ukrainian forces surrounded the rebel-held port city of Mariupol in fighting with pro-Russian separatists after launching a dawn attack on Friday, the country's interior minister said on his Facebook page. _0"> The rebel forces, who oppose the pro-European leadership in the capital Kiev, confirmed fighting was under way and said five of their number had been killed. Mariupol is Ukraine's largest Azov Sea port, and is important for steel exports. (Reporting by Pavel Polityuk, Editing by Timothy Heritage)