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Thursday, June 29, 2017

Wall Street hit hard as tech softness continues

(Reuters) - Wall Street fell sharply on Thursday, with the S&P 500 and the Dow industrials suffering their worst daily percentage drops in about six weeks, as a recent decline in technology shares deepened and outweighed strength in bank shares.

Blue Apron shares make bland debut

(Reuters) - Blue Apron Holdings Inc's shares were up about 1 percent in their market debut on Thursday following the meal-kit delivery company's watered down IPO in the shadow of Amazon.com's deal to buy Whole Foods Market .

Walgreens scraps Rite Aid merger, will instead buy half its stores

(Reuters) - Drugstore chain Walgreens Boots Alliance Inc scrapped its deal to buy Rite Aid Corp after failing to win antitrust approval, but said it would instead buy nearly half of the smaller rival's U.S. stores for $5.18 billion.

Britain says Fox bid for Sky risks giving Murdoch too much power

LONDON (Reuters) - Britain intends to subject Rupert Murdoch's takeover of European pay-TV group Sky to a lengthy in-depth investigation after finding the $15 billion deal risks giving the media mogul too much power over the news agenda.

Nike's profit, revenue top estimates on lower costs

(Reuters) - Nike Inc , the world's largest footwear maker, reported quarterly revenue and profit that topped Street estimates as the company kept a lid on costs and saw greater demand in Western Europe, China and emerging markets.

Billionaire investor Icahn backs off demand for AIG breakup: source

(Reuters) - Billionaire investor Carl Icahn is backing off his demand to break up insurance giant American International Group Inc , following the company's sale of assets and hiring of a new chief executive officer, a person familiar with the matter said.

MetLife board OKs Brighthouse spinoff, sets effective date

(Reuters) - MetLife Inc on Thursday came a step closer to spinning off its U.S. retail life insurance business after the company's board of directors approved the plan, it said on Thursday.

Coca-Cola says reaches agreement with S. African government. on acquisition of local arm

JOHANNESBURG (Reuters) - Drinks giant Coca-Cola said on Thursday it had reached an agreement with the South African government on a package of conditions as it finalizes the purchase of a controlling 54.5 percent stake in its joint Africa venture with ABInBev .

ANZ says seeking to uncover metals fraudsters after big losses

LONDON/MELBOURNE (Reuters) - Australia and New Zealand Banking Group is seeking to uncover who was behind a metals fraud in Asia that cost it "substantial losses" and led to transfers of $151 million to the United States, according to court papers filed in California.

BHP chairman says $20 billion investment in shale was a mistake

SYDNEY (Reuters) - BHP Billiton's Chairman Jac Nasser said on Thursday BHP's $20 billion investment in U.S. shale oil and gas six years ago was, in hindsight, a mistake.