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Thursday, June 1, 2017

Jobless claims jump more than expected in latest week

WASHINGTON, June 1 (Reuters) - The number of Americans filing for unemployment benefits increased more than expected last week, but the rise probably does not signal a material shift in labor market conditions as claims for several states, including California, were estimated.

'Axis of love': Saudi-Russia detente heralds new oil order

MOSCOW (Reuters) - A meeting between the two men who run Russia and Saudi Arabia's oil empires spoke volumes about the new relationship between the energy superpowers.

Exclusive: OPEC looked at extra 1-1.5 percent oil supply cut, could revive proposal

DUBAI/LONDON (Reuters) - OPEC discussed cutting its oil output by a further 1-1.5 percent when it met last week, three sources familiar with the matter said, and could revisit the proposal should inventories remain high and continue to weigh on prices.

Oil rises as Trump decides on climate pact, yuan surges

LONDON (Reuters) - Oil prices rose on Thursday, lifting energy company shares, on expectations the United States will withdraw from a global pact to fight climate change, while China's yuan shrugged off weak factory data to hit a seven-month high against the dollar.

Sulk but no tantrum likely as central banks sidle toward exit

LONDON (Reuters) - History suggests that financial markets react violently when a central bank signals it is scaling back the stimulus that has kept an economy afloat - and lined the pockets of investors.

PPG admits defeat for now in quest to buy Akzo Nobel

AMSTERDAM (Reuters) - U.S. paints and coatings maker PPG Industries has dropped its attempt to buy Dutch rival Akzo Nobel in a 26.3 billion euro ($29.5 billion) deal, stung by repeated rejections from the company, legal defeats and hostility from Dutch politicians.

Toshiba, Western Digital trade barbs in spat over chip unit auction

TOKYO (Reuters) - Western Digital said on Thursday it is still seeking arbitration in a dispute with Toshiba Corp over the auction of its prized chip unit, arguing that a transfer of assets by the Japanese firm had not resolved what it calls a serious breach of contract.

Deere to buy German road construction firm Wirtgen for $5.2 billion

(Reuters) - U.S. based farm and construction major Deere & Co said on Thursday it would buy privately held German road construction company Wirtgen Group for $5.2 billion, including debt.

Fed marching on despite U.S. inflation slump: Powell

NEW YORK (Reuters) - The Federal Reserve sent a strong signal on Thursday that it will raise interest rates this month and soon begin shedding some of its $4.5 trillion in bond holdings, despite some weak recent U.S. inflation readings.

T-Mobile's expanded network has rivals - and suitors - taking notice

NEW YORK (Reuters) - T-Mobile US Inc has built a reputation as a scrappy underdog by offering cell service with no contracts and cheap prices.