Reuters - Business Today

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Wednesday, May 31, 2017

Wall Street looks set to open higher

(Reuters) - U.S. stocks looked set to open higher on Wednesday, with the three major indexes on track to end the month higher, shrugging off the impact of a steep fall in oil prices.

Exxon steps up efforts to sway shareholders on climate-report vote

HOUSTON/BOSTON (Reuters) - Exxon Mobil Corp has stepped up efforts to persuade investors to vote against climate-related proposals at Wednesday's annual meeting with a campaign of calling, writing and lobbying shareholders in person.

'Green' mutual funds bounce back after Trump-induced retreat

BOSTON (Reuters) - After U.S. President Donald Trump's election last November, investors pulled nearly $68 million from so-called "green" mutual funds, reflecting fear that his pro-coal agenda would hurt renewable energy firms.

Michael Kors gives weak forecast, to shut some stores

(Reuters) - Michael Kors Holdings Ltd gave a bleak full-year forecast and said it would shut more than 100 full-price retail stores in the next two years as the luxury fashion retailer struggles to turn around its brand.

Canada: Boeing is trusted partner despite Bombardier dispute

OTTAWA (Reuters) - Canada's Defence Minister Harjit Sajjan said on Wednesday that Boeing Co will be a trusted military partner in the decades to come, even though the government has threatened to scrap plans to buy Boeing's fighter jets.

Oil prices at three-week low as rising output risks OPEC-led deal

LONDON (Reuters) - Oil prices fell to a three-week low on Wednesday on news that Libyan output was recovering from an oilfield technical issue, fuelling concerns that OPEC-led output cuts to reduce global inventories were being undermined by producers outside the deal.

China factories hum in shadow of debt risk, Moody's raises global outlook

(Reuters) - China's industrial engine cranked up again in May, reassuring investors worried about slowing growth in the world's second-biggest economy as it grappled with debt risks and tried to shake off a stinging ratings downgrade from Moody's Investors Service.

Global stocks close lucrative May on a high, sterling hits eight-week low

LONDON (Reuters) - Stocks rose on Wednesday as investors looked to close the month on a high, while sterling fell after an opinion poll suggested the ruling Conservatives could lose seats in next week's UK general election, potentially leading to a hung parliament.

Brazil's J&F agrees to pay $3.2 billion fine in leniency agreement

SAO PAULO (Reuters) - J&F Investimentos, controlling shareholder of the world´s largest meatpacker, JBS SA , agreed with Brazilian prosecutors late on Tuesday to pay a 10.3 billion real ($3.2 billion) fine for its role in corruption scandals.

BA says IT collapse came after servers damaged by power problem

LONDON (Reuters) - A huge IT failure that stranded 75,000 British Airways passengers followed damage to servers that were overwhelmed when the power returned after an outage, the airline said on Wednesday.