🔔 Reuters Before the Bell: May 25, 2017

Click to View in Browser Thursday, May 25, 2017 Lack of new launches leaves Ford playing catchup with GM DETROIT (Reuters) - James Hackett spent the last year plotting Ford Motor Co's long-term self-driving car strategy. In his first week as chief executive, he has more immediate concerns: stopping a skid in North American sales and fending off a market share grab by resurgent archrival General Motors Co. Ford to name new heads for Europe, Asia: FT (Reuters) - Ford Motor Co , which earlier this week named turnaround expert James Hackett as its chief executive officer, will announce replacements for some of its key executive positions as early as Thursday, the Financial Times reported, citing sources. OPEC extends oil output cut by nine months to fight glut VIENNA (Reuters) - OPEC decided on Thursday to extend cuts in oil output by nine months to March 2018, OPEC delegates said, as the producer group battles a global glut of crude after seeing prices halve and revenues drop sharply in the past three years. Equatorial Guinea approved as latest OPEC member: source close to oil minister CAPE TOWN (Reuters) - Africa's third-biggest oil producer, Equatorial Guinea, has been accepted as a new member of the Organization of the Petroleum Exporting Countries (OPEC), a source close to the country's oil minister told a Reuters on Thursday. Kuwait minister says expects nine-month extension to OPEC-led oil output cuts VIENNA (Reuters) - Kuwaiti Oil Minister Essam al-Marzouq said on Thursday he did not expect OPEC oil producers to discuss any deepening of their oil output reduction target at a meeting where extending the length of the deal is on the agenda. Extending OPEC-led oil output cuts by 9 months the best option: Iraq oil minister VIENNA (Reuters) - Iraqi Oil Minister Jabar Ali al-Luaibi said on Thursday that extending the current level of OPEC-led supply cuts by nine months was the best option to restore balance to the crude market. Venezuela says considering options to repay debts VIENNA (Reuters) - Venezuela is considering several options to repay its debts, the oil minister said on Thursday, after a deep recession and low crude prices hit output and prompted Caracas to seek funds from China and Russia. Nigeria oil minister says not opposed to eventually joining output cuts Vienna (Reuters) - Nigerian Oil Minister Emmanuel Ibe Kachikwu said on Thursday that conceptually Nigeria was not opposed to joining OPEC production caps but would have to wait and see if production came back to acceptable levels. Best Buy beats on profit, comparable sales; shares jump CHICAGO (Reuters) - Best Buy Co Inc, the No. 1 U.S. electronics retailer, reported an unexpected rise in first-quarter comparable sales on Thursday, helped by demand for gaming and mobile products. Abercrombie posts smaller-than-expected drop in same-store sales (Reuters) - U.S. teen apparel retailer Abercrombie & Fitch Co , which has put itself up for sale, posted smaller-than-expected drop in comparable-store sales, helped by strong demand for its California beach-themed surfwear brand Hollister. Related Video Facebook signs BuzzFeed, Vox for original video shows Expedia enables hotel booking in Cuba Make sense of the market with highlights of valuable financial information and reports along with compelling investment insights. Register Today The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2017 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook