Reuters - Business Today

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Monday, October 30, 2017

Japan's SoftBank doubts merger of Sprint with T-Mobile: source

(Reuters) - SoftBank Group Corp's board of directors is having doubts about the merger it has been negotiating between its U.S. wireless subsidiary Sprint Corp and T-Mobile US Inc , due to fears of losing control of a combined entity, a source familiar with the matter told Reuters on Monday.

Oreo maker Mondelez's profit, revenue beat estimates

(Reuters) - Mondelez International Inc beat Wall Street's profit and revenue estimates in the third quarter as demand for its key brands such as Oreos and Trident gum rose in Latin America and Europe.

Wall St. slips as Merck drops, tax talk rattles

(Reuters) - Wall Street pulled back from record-high territory on Monday, weighed down by a drop in Merck shares and a report that U.S. lawmakers are discussing a gradual phase-in of much-anticipated corporate tax cuts.

Cancer-drug setback sends Merck shares down again

NEW YORK (Reuters) - A setback for Merck & Co's key cancer drug sent the drugmaker's stock swooning on Monday for a second straight session, putting the shares on track for their biggest two-day decline in more than eight years.

Apple touches record as brokerages bullish on iPhone X demand

(Reuters) - Several analysts downplayed concerns about Apple Inc's iPhone X production issues and were bullish on demand and sales, pushing the company's shares to a record on Monday.

U.S. regulator wants to loosen leash on Wells Fargo: sources

WASHINGTON (Reuters) - A leading U.S. regulator wants to make it easier for Wells Fargo to pay employees when they leave, loosening a restriction in place since a phony accounts scandal hit the bank last year, according to people familiar with the matter.

Ackman says ADP provided 'misleading' data to ISS: filing

BOSTON (Reuters) - Billionaire investor William Ackman on Monday accused Automatic Data Processing of providing misleading and incorrect data to Institutional Shareholder Services and asked the proxy advising firm to reconsider its recommendations.

New Akzo Nobel boss pursues $30 billion deal with Axalta

AMSTERDAM/FRANKFURT (Reuters) - Dutch paints maker Akzo Nobel, seeking to recover after rejecting a takeover offer and issuing two profit warnings, is discussing a merger with smaller U.S. rival Axalta Coating Systems Ltd to create a $30 billion company.

Citi analysts flag 'real risk' of Macy's dividend cut, shares tumble

CHICAGO (Reuters) - Shares in Macy's Inc tumbled more than 5 percent on Monday to a seven-year low after Citi analysts said the department store operator may cut its dividend to help pay down debt as it grapples with weak margins and foot traffic.

U.S. consumer spending grows at fastest pace since 2009, savings drop

WASHINGTON (Reuters) - U.S. consumer spending recorded its biggest increase in more than eight years in September, likely as households in Texas and Florida replaced flood-damaged motor vehicles, but underlying inflation remained muted.