Reuters Business Today: May 18, 2017

Click to View in Browser Thursday, May 18, 2017 U.S. jobless claims fall; continuing claims at 28-1/2-year low WASHINGTON - New applications for U.S. jobless benefits unexpectedly fell last week and the number of Americans receiving unemployment aid hit a 28-1/2-year low, pointing to rapidly shrinking labor market slack. Ralph Lauren sales, profit beat as it reins in discounts (Reuters) - Ralph Lauren Corp's quarterly profit and sales topped estimates as the luxury apparel maker reined in discounts and cut inventories in a bid to boost margins. Wal-Mart draws more shoppers, online sales jump CHICAGO (Reuters) - Wal-Mart Stores Inc on Thursday reported higher-than-expected quarterly sales at established U.S. stores, as more customers visited the discount retailer and its e-commerce push boosted online purchases, sending its shares up 1.3 percent in early trade. Alibaba reveals $6 billion share buyback as misses EPS forecast (Reuters) - Alibaba Group Holding Ltd said on Thursday it would buy back shares worth up to $6 billion over two years, as it beat first quarter revenue forecasts but missed income estimates. GM will cut operations in India, South Africa DETROIT (Reuters) - General Motors Co plans to quit selling vehicles in India by the end of this year and will sell operations in South Africa, the latest steps in a strategy of focusing cash and engineering effort on fewer, more profitable markets. Trump storm strikes global stocks again, dollar steadies LONDON (Reuters) - Swirling uncertainty over U.S. President Donald Trump's political future saw world stocks extend their steepest fall in over six months on Thursday, though there were signs of stabilization elsewhere as the dollar and gold steadied. EU fines Facebook 110 million euros over WhatsApp deal BRUSSELS (Reuters) - European Union antitrust regulators fined Facebook 110 million euros ($122 million) on Thursday for giving misleading information during a vetting of its deal to acquire messaging service WhatsApp in 2014. 'Trump Trade' turns to trepidation as investors unwind NEW YORK (Reuters) - Investors were shelving rosy hopes for U.S. tax reform and rethinking strategies premised on Donald Trump's economic growth promises on Wednesday, as the President faced his loudest criticism yet over possible collusion between his election campaign and Russia. Deutsche Bank wants former bosses to pay for past misconduct FRANKFURT (Reuters) - Deutsche Bank expects former board members to pay substantial sums for their role in past misconduct which has tarnished the reputation of Germany's biggest lender, its chairman Paul Achleitner said on Thursday. U.S. preparing to sue Fiat Chrysler over excess diesel emissions NEW YORK (Reuters) - The U.S. Justice Department plans to file a civil lawsuit against Fiat Chrysler Automobiles NV over excess diesel emissions as early as this week if no agreement is reached with the Italian-American automaker, two sources briefed on the matter said on Wednesday. Related Video Japan hits longest GDP growth run in a decade Google's AI raises the bar for rivals Apple, Amazon 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