Bhinneka News Online: Reuters Daily Investor Update: May 31, 2017

Wednesday 31 May 2017

Reuters Daily Investor Update: May 31, 2017

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Wednesday, May 31, 2017

Stocks lose steam at end of solid month; British pound slips

NEW YORK (Reuters) - Major stock markets around the globe ended a solid May on a weak note on Wednesday, while the British pound fell as conflicting poll results stoked worries whether the ruling Conservatives could lose seats in next week's UK general election.

Volkswagen woos BMW, Mercedes buyers in new upmarket push

HANOVER, Germany (Reuters) - Volkswagen's troubled mass-market brand is pushing upmarket again with a new flagship model a year after ceasing the flopped Phaeton luxury saloon in a bid to lift margins and revive its post-dieselgate image.

Wall Street little changed as financials drop, defensive stocks gain

NEW YORK (Reuters) - U.S. stocks were little changed on Wednesday as financials dropped after JPMorgan and Bank of America warned of revenue weakness, offsetting gains in defensive plays.

Hewlett Packard Enterprise posts loss in second quarter vs. year-ago profit

(Reuters) - Hewlett Packard Enterprise Co on Wednesday reported a quarterly loss, compared to a profit a year earlier, hurt by tax valuation allowances related to the recent sale of a business unit, as well as intense competition and a strong dollar.

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

BRASILIA/SAO PAULO (Reuters) - J&F Investimentos, controlling shareholder of the world's largest meatpacker JBS SA , agreed to pay a record-setting 10.3 billion real ($3.2 billion) fine for its role in corruption scandals that threaten to topple President Michel Temer.

Oil prices dive 3 percent to three-week low; OPEC crude output up

NEW YORK (Reuters) - Oil prices sank 3 percent to a three-week low on Wednesday as an increase in Libyan output helped boost monthly OPEC crude production for the first time this year.

JPMorgan second quarter market revenue down 15 percent vs year earlier - CFO

NEW YORK (Reuters) - Markets revenue at JPMorgan Chase & Co has been down about 15 percent so far in the second quarter from a year earlier, Chief Financial Officer Marianne Lake said on Wednesday.

Bank of America CEO talks down second-quarter expectations

(Reuters) - Bank of America Corp second-quarter earnings will be hurt by a drop in trading revenue, lower-than-expected interest rates and the sale or shuttering of certain assets, according to comments from Chief Executive Brian Moynihan on Wednesday.

U.S. bank shares decline on trading revenue concerns

(Reuters) - Shares in U.S. banks fell on Wednesday, with the S&P 500 bank index hitting its lowest level since late 2016, after JPMorgan Chase and Bank of America Corp warned of revenue weakness in the current quarter.

New York Times offers buyouts, scraps public editor position

(Reuters) - The New York Times Co said on Wednesday it was offering buyouts to its newsroom employees to streamline production systems and reduce the number of editors.