Bhinneka News Online: Reuters Daily Investor Update: March 14, 2017

Tuesday, 14 March 2017

Reuters Daily Investor Update: March 14, 2017

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Tuesday, March 14, 2017

Wall Street down as oil prices slide; Fed meet in focus

(Reuters) - U.S. stocks drifted lower on Tuesday as oil prices fell for the sixth straight day and investors held off from making big bets ahead of a widely expected interest rate hike.

Oil hits three-month lows as OPEC reports rising stocks, Saudi output jump

LONDON (Reuters) - Oil prices slid to three-month lows on Tuesday after OPEC reported a rise in global crude stocks and a surprise jump in production from its biggest member, Saudi Arabia, despite output curbs by the group.

Exclusive: Delta hires consultant to study refinery options - sources

NEW YORK (Reuters) - Delta Air Lines has hired a consultant to assess the impact on jet fuel prices if the carrier sells or closes the Philadelphia-area refinery it purchased five years ago to keep fuel affordable, two sources familiar with the process said.

Activist hedge fund opposes Walt Disney's move on Disneyland Paris

LONDON/PARIS (Reuters) - An activist hedge fund has said it objects to plans by Walt Disney to take full control of debt-laden Paris theme park operator Euro Disney , according to a letter seen by Reuters.

Connected or mechanical? TAG Heuer tries to bridge gap with module watch

BRUNNEN, Switzerland (Reuters) - Swiss watchmaker TAG Heuer, owned by LVMH , sought to appeal to tech geeks and traditionalists alike on Tuesday by launching a connected watch that lets wearers switch between a smart watch head and a traditional mechanical movement.

Volkswagen leaves door open on M&A as VW brand struggles

WOLFSBURG, Germany (Reuters) - Volkswagen left the door open to a potential tie-up with Fiat Chrysler or another rival on Tuesday, as a drop in operating profit at its biggest car brand showed the challenges it still faces 18 months on from its emissions scandal.

Oil drops amid rising stocks, dragging on energy shares

NEW YORK (Reuters) - Oil prices tumbled on Tuesday, weighing down energy shares in the wake of a report of rising crude stocks, while the U.S. dollar strengthened ahead of an expected Federal Reserve decision to raise interest rates.

Neiman Marcus says exploring alternatives, including sale

(Reuters) - Luxury fashion retailer Neiman Marcus Group Ltd LLC [NMRCUS.UL] said on Tuesday it was exploring strategic alternatives, including a sale of the company.

Canada's Hudson's Bay in talks to buy Neiman Marcus: WSJ

(Reuters) - Canada's Hudson's Bay Co is in talks to buy U.S. luxury fashion retailer Neiman Marcus Group LLC [NMRCUS.UL], turning its focus away from Macy's Inc , the Wall Street Journal reported on Tuesday.

Ackman's Pershing Square sells Valeant stake, takes $3 billion loss

BOSTON (Reuters) - Billionaire investor William Ackman walked away from Valeant Pharmaceuticals International Inc on Monday with a loss of more than $3 billion as he sold his entire stake in the struggling drug company after trying to rescue it for some 18 months.