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Updated: 47 min 22 sec ago

'Fight for 15' targets McDonald's shareholder meeting

Wed, 05/24/2017 - 1:01pm
OAK BROOK, Ill. (Reuters) - Hundreds of fast-food workers demanding wage increases marched on Wednesday outside of the McDonald's Corp headquarters in a Chicago suburb during the company's annual shareholder meeting.

Loeb says Dow-DuPont deal can create $20 billion more value

Wed, 05/24/2017 - 12:45pm
(Reuters) - Activist investor Daniel Loeb's Third Point LLC said Dow Chemical and DuPont could create $20 billion in additional shareholder value by tweaking their plan to split into three companies following the merger.

Bitcoin soars above $2,400 to all-time high

Wed, 05/24/2017 - 10:55am
(Reuters) - Digital currency bitcoin hit a fresh record high on Wednesday, surging above $2,400, as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology.

Home sales fall as tight supply boosts prices

Wed, 05/24/2017 - 10:43am
WASHINGTON (Reuters) - U.S. home resales fell more than expected in April, weighed down by a chronic shortage of houses on the market that is keeping house prices elevated and sidelining prospective buyers.

U.S. inventories of oil, gasoline fall: EIA

Wed, 05/24/2017 - 10:37am
(Reuters) - U.S. crude stocks fell last week as refineries hiked output, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.

Wall St. little changed ahead of Fed minutes

Wed, 05/24/2017 - 9:54am
(Reuters) - U.S. stocks were little changed in early trading on Wednesday as investors awaited Federal Reserve minutes of its May meeting that could cement the chances of a rate hike next month.

Analysts wary over Fiat Chrysler's emissions but say not as bad as VW

Wed, 05/24/2017 - 9:41am
MILAN (Reuters) - Any potential fines Fiat Chrysler (FCA) may need to pay to settle a U.S. civil lawsuit over diesel emissions will unlikely top $1 billion, analysts said, adding the case appeared less serious than at larger rival Volkswagen .

Citi struggles to bring back shine to its Mexican crown jewel

Wed, 05/24/2017 - 9:32am
MEXICO CITY/NEW YORK (Reuters) - The newly refurbished Citibanamex branch in Mexico City's affluent Del Valle neighborhood opens into a Scandinavian-chic space where salespeople chat with clients at touch screens. The next room, though, is filled with customers queueing up in front of tellers or waiting on benches. Outside, more line up to use the ATMs.

Anthem weighing Obamacare individual market in each state

Wed, 05/24/2017 - 9:02am
NEW YORK (Reuters) - Anthem Inc is looking at each state to determine what its participation in the Obamacare individual market will be next year given the political and regulatory uncertainty, Chief Executive Officer Joseph Swedish said on Wednesday.

Tiffany's sales miss estimates; shares slump

Wed, 05/24/2017 - 7:24am
(Reuters) - Tiffany & Co reported lower-than-expected quarterly sales and a surprise drop in comparable sales due to lower spending by tourists and domestic customers in the Americas, its largest market.

German prosecutor probing Daimler says is in touch with U.S. authorities

Wed, 05/24/2017 - 6:48am
FRANKFURT (Reuters) - German authorities involved in raiding Daimler's offices as part of a probe into diesel pollution are talking to authorities in the United States, the Stuttgart public prosecutor's office said on Wednesday.

'Food revolution': megabrands turn to small start-ups for big ideas

Wed, 05/24/2017 - 6:37am
LONDON (Reuters) - Food and drink megabrands are seeing their sales chewed away by smaller, nimbler, cooler rivals. They can't beat them - so now they're joining them.

Linde board to vote on Praxair deal next week: WirtschaftsWoche

Wed, 05/24/2017 - 6:25am
FRANKFURT (Reuters) - German industrial gases group Linde's supervisory board will vote next week on a merger agreement with U.S. peer Praxair , German weekly WirtschaftsWoche reported, citing sources close to the negotiations.

Trump tax reforms could push Israeli tech companies to the U.S.

Wed, 05/24/2017 - 6:23am
JERUSALEM (Reuters) - U.S. President Donald Trump's plans for sharp cuts to corporate taxes will lead Israeli technology companies, a lynchpin of Israel's economy, to consider shifting their domicile to the United States, industry and accountancy executives say.

General Electric signs 1 billion riyal deal to build gas turbines in Saudi Arabia

Wed, 05/24/2017 - 5:18am
RIYADH (Reuters) - General Electric (GE) signed a one billion riyal ($267 million) joint venture agreement on Wednesday with Saudi Arabia's state-backed Dussur industrial development company to manufacture gas turbines in the eastern city of Dammam.

OPEC, non-OPEC hold informal talks to nail new oil cuts

Wed, 05/24/2017 - 4:47am
VIENNA (Reuters) - OPEC and non-OPEC ministers meet for informal consultations in Vienna on Wednesday in a last-ditch bid to agree the duration of oil output cuts as they seek to clear a global stocks overhang that has pulled down the price of crude.

RBS struggles to seal deal over 2008 cash call dispute: sources

Wed, 05/24/2017 - 2:17am
LONDON (Reuters) - Royal Bank of Scotland is struggling to reach a deal with all the investors who allege the lender misled them during a 12 billion pound ($15.6 billion) cash call in 2008, two sources familiar with the situation said.

Bunge says not in talks with Glencore following approach

Wed, 05/24/2017 - 1:45am
CHICAGO (Reuters) - U.S. grains trader Bunge Ltd said on Tuesday it was not in talks with Swiss mining and commodities group Glencore Plc , after the latter said it had made an informal approach to discuss "a possible consensual business combination."

U.S. financial council reimagined as boon, not bane, for Wall Street

Wed, 05/24/2017 - 1:16am
WASHINGTON (Reuters) - The Financial Stability Oversight Council (FSOC), which brings together all U.S. financial watchdogs, used to be the scourge of Wall Street but under Treasury Secretary Steven Mnuchin it can serve to ease its regulatory burdens.

U.S. appeals court to hear cases that could weigh on Wall Street policing

Wed, 05/24/2017 - 1:06am
WASHINGTON (Reuters) - A U.S. appeals court will weigh whether certain hiring practices at two of the country's top financial market regulators violate the Constitution on Wednesday, in a pair of cases that could have major ramifications for the policing of Wall Street.