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Reuters Daily

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S&P 500 hits record high after upbeat retail results

Thu, May 25, 2017

NEW YORK (Reuters) - The S&P 500 and Nasdaq hit record closing highs on Thursday, with the market propped up by gains in the consumer discretionary sector after strong reports from Best Buy and other retailers. ...

OPEC, non-OPEC extend oil output cut by nine months to fight glut

Thu, May 25, 2017

VIENNA (Reuters) - OPEC and non-members led by Russia decided on Thursday to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude after seeing prices halve and revenues drop sharply in the past three years. ...

Big drop in U.S. oil stocks finally on the way, traders say

Thu, May 25, 2017

NEW YORK (Reuters) - Oil traders and analysts are expecting large volumes of crude to draw from storage tanks across the United States in coming weeks, in what would be the most tangible sign of an inventory overhang reduction that has punished prices over the last two years. ...

Wilbur Ross seeks bigger budget for trade enforcement

Thu, May 25, 2017

WASHINGTON (Reuters) - U.S. Commerce Secretary Wilbur Ross said on Thursday that a $5.5 million increase requested for the agency's enforcement budget this year will have a "real impact" in cracking down on unfair trade practices and export security violations. ...

New Ford CEO relies on veterans to reboot profits

Thu, May 25, 2017

BENGALURU/DETROIT (Reuters) - Ford Motor Co on Thursday reshuffled senior management and brought back a former executive from Uber Technologies Inc, signaling its new chief executive officer will rely on tested company veterans to turn Ford around rather than outside talent. ...

Jobless claims edge up; goods trade deficit widens

Thu, May 25, 2017

WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits rose slightly last week and the four-week moving average of claims hit a 44-year low, suggesting a further tightening of the labor market that could encourage the Federal Reserve to raise interest rates next month. ...

Exclusive: Bankrupt Westinghouse ends pensions for ex-CEOs, executives

Thu, May 25, 2017

WILMINGTON, Del (Reuters) - Bankrupt Westinghouse Electric Co LLC, the U.S. nuclear technology firm owned by Toshiba Corp , has stopped making pension payments to former executives, according to a letter seen by Reuters, removing a benefit that has helped the company retain top talent. ...

GM is accused in lawsuit of cheating on diesel truck emissions

Thu, May 25, 2017

(Reuters) - General Motors Co was accused in a lawsuit on Thursday of rigging hundreds of thousands of diesel trucks with devices similar to those used by Volkswagen AG , to ensure they pass emissions tests. ...

Viacom networks to return to Suddenlink customers

Thu, May 25, 2017

NEW YORK (Reuters) - A number of Viacom Inc's networks, which include Nickelodeon, Comedy Central and MTV, will be available to Altice NV's Suddenlink subscribers more than two years after the cable provider dropped them in a carriage dispute, the companies said on Thursday. ...

Ballooning Chinese dollar borrowing a dilemma for index trackers

Thu, May 25, 2017

LONDON/HONG KONG (Reuters) - Record-breaking dollar bond sales from Chinese companies are steadily increasing China's weight in global indexes, raising concerns about overexposure among investors who track them. ...

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