Reuters Business Today: May 12, 2017

Click to View in Browser Friday, May 12, 2017 U.S., China agree to first trade steps under 100-day plan WASHINGTON/BEIJING (Reuters) - The United States and China have agreed to take action by mid-July to increase access for U.S. financial firms and expand trade in beef and chicken among other steps as part of Washington's drive to cut its trade deficit with Beijing. Wall Street falls, department stores take a drubbing (Reuters) - Wall Street slipped on Friday, ending the week lower as tepid economic data weighed on banks and worries deepened over Nordstrom and other department stores. Wells Fargo may have created 3.5 million unauthorized accounts: lawyers (Reuters) - Wells Fargo & Co may have opened as many as 3.5 million unauthorized customer accounts, far more than previously estimated, according to lawyers seeking approval of a $142 million settlement over the practice. Behind Kushner Companies, a Chinese agency skirts visa-for-investment rules SHANGHAI (Reuters) - While Jared Kushner's family company apologized this week for mentioning the White House adviser's name when wooing Chinese investors to fund a New Jersey real estate project, one Chinese immigration agency was touting its role in the deal. In blow to Trump, GE backs NAFTA and plans growth in Mexico MONTERREY, MEXICO (Reuters) - General Electric Co's chief executive on Friday praised Mexico as a big part of its future growth and said the company is "very supportive" of the North American Free Trade Agreement (NAFTA) that U.S President Donald Trump has threatened to ditch. U.S. retail sales rise broadly; consumer prices rebound WASHINGTON (Reuters) - U.S. retail sales increased broadly in April while consumer prices rebounded, pointing to a pickup in economic growth and a gradual rise in inflation that could keep the Federal Reserve on track to raise interest rates next month. GE's Immelt bets big on digital factories, shareholders are wary GROVE CITY, Penn. (Reuters) - At a General Electric Co factory in this rural town, Keith Spahn, 60, used to take measurements of parts from railroad locomotives that are in for repair by hand. Spotify, valued at $13 billion, to launch direct listing on NYSE: sources (Reuters) - Music streaming service Spotify, most recently valued at $13 billion, will be the first major company to carry out a direct listing on the New York Stock Exchange when it goes public later this year or early next year, two sources familiar with the situation said on Friday. U.S. court puts hold on 'too big to fail' case involving MetLife WASHINGTON (Reuters) - A U.S. appeals court on Friday granted a 60-day abeyance in a case in which the country's largest life insurer, MetLife Inc, is challenging the federal government's labeling of it as "too big to fail." Boeing resumes 737 MAX test flights after brief grounding (Reuters) - Boeing Co said on Friday it resumed test flights of its $110-million 737 MAX 8 jetliner, just two days after saying it had grounded the entire fleet to address an engine problem. Related Video Spotify to list on NYSE Spain, UK come under 'ransomware' cyber attack Counterparties is a curated snapshot of the best finance news and commentary around the web. Register Today News you can use with actionable, timely advice for managing your financial life, including retirement, taxes, real estate, education and more. 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