Wednesday, 12 April 2017

Reuters Business Today: April 12, 2017

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Wednesday, April 12, 2017
Wall Street ends lower; Trump comments dampen sentiment late
NEW YORK (Reuters) - U.S. stocks eased on Wednesday and the S&P 500 closed below a key technical level for the first time since Election Day, pressured by lingering geopolitical concerns and President Donald Trump's comments on the dollar and interest rates.
Trump's message to bankers: Wall Street reform rules may be eliminated
WASHINGTON (Reuters) - President Donald Trump told a group of chief executives on Tuesday that his administration was revamping the Wall Street reform law known as Dodd-Frank and might eliminate the rules and replace them with "something else."
Exclusive: Meredith falls short of Time Inc's deal price expectations - sources
(Reuters) - U.S. media group Meredith Corp has made a preliminary acquisition offer to Time Inc that fell short of the price expectations of the publisher of Sports Illustrated and Fortune magazines, according to people familiar with the matter.
Exclusive: Inside edge - Trump advisor Icahn's big bet against biofuels credits
(Reuters) - Billionaire investor Carl Icahn's oil refining company, CVR Energy, made a massive bet in 2016 that prices for U.S. government biofuels credits would fall - just before Icahn started advising President Donald Trump on regulations driving that market.
United Airlines faces mounting pressure over hospitalized passenger
(Reuters) - United Airlines and its chief executive faced mounting pressure on Tuesday from a worldwide backlash over its treatment of a passenger who was dragged from his seat on a plane on Sunday to make room for four employees on the overbooked flight.
Grey market has become a necessary evil for luxury watchmakers
ZURICH (Reuters) - A diamond-studded Rolex at 40 percent off the $34,000 retail price or an Omega Speedmaster Moonphase for less than $10,000? While still out of reach for most people, the increasing prevalence of such deals highlights the perplexing predicament in which luxury watchmakers now find themselves.
Airbnb signs dozens more tax agreements in the U.S., France
SAN FRANCISCO (Reuters) - Airbnb has reached new deals with dozens of jurisdictions in the United States and France to collect and pay taxes, doubling down on its effort to improve its image with local policymakers even as it face regulatory challenges around the world.
Tesla's Musk tells disgruntled shareholders: Buy Ford
SAN FRANCISCO/DETROIT (Reuters) - A group of Tesla Inc investors has urged the luxury electric car maker to add two new independent directors to its board, without ties to Chief Executive Elon Musk, to "provide a critical check on possible dysfunctional group dynamics."
Investors eye midstream sector as production ramps up
HOUSTON (Reuters) - Investors are placing bets that demand for U.S. energy pipelines, storage and processing facilities will outstrip supply in the next few years as the resurgence in shale oil and gas production increases.
In proxy fight, Greenlight says GM misrepresented its stock plan
DETROIT/BOSTON (Reuters) - Greenlight Capital nominated three directors to General Motors Co's board on Wednesday and accused the company of misrepresenting to ratings agencies the prominent hedge fund's proposal to split the automaker's common stock into two classes.
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