Reuters Business Today: May 2, 2017

Click to View in Browser Tuesday, May 2, 2017 Apple posts surprise fall in iPhone sales (Reuters) - Apple Inc reported a surprise fall in iPhone sales for the second quarter on Tuesday, indicating that customers had held back purchases in anticipation of the 10th-anniversary edition launch of the company's most important product. Wall Street edges up on heavy earnings day; Fed on tap (Reuters) - Wall Street edged higher on Tuesday as gains for the tech and industrial sectors countered weakness in auto and energy stocks and investors digested a heavy day of earnings reports. U.S. lawmakers eye airline legislation, citing 'terrible' experiences WASHINGTON (Reuters) - U.S. lawmakers threatened United Airlines and other U.S. carriers on Tuesday with legislation aimed at improving customer service after a passenger was hauled down the aisle of an overbooked flight last month. Tesla is most painful stock for short sellers in 2017 SAN FRANCISCO (Reuters) - Traders short selling Tesla's soaring stock have lost $3.7 billion this year, eclipsing the combined losses of traders shorting Apple , Amazon.com and Netflix . Wall Street fears end of boom as automakers' April U.S. sales drop DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. Wall Street elite find it hard to bank on Trump's breakup talk NEW YORK (Reuters) - At an annual gathering of the world's most powerful thinkers and trendsetters in Beverly Hills this week, business leaders and major investors said they have gotten used to dismissing most things that President Donald Trump says or tweets. Exclusive: Akzo sees latest PPG bid inadequate, weighs options (Reuters) - Dutch paint maker Akzo Nobel NV's supervisory board is scheduled to meet on Tuesday to discuss how to proceed after deeming PPG Industries Inc's latest $29 billion offer to be insufficient, people familiar with the matter said. Wall St. eyes Apple and Facebook to fuel new leg of tech rally SAN FRANCISCO (Reuters) - Apple and Facebook may expand their already outsized share of U.S. technology revenue when they report their earnings this week, as investors look for evidence to justify this year's U.S. stock market rally. Despite record highs, fund managers globally remain underweight Apple NEW YORK (Reuters) - Active stock fund managers around the world are holding the lowest percentage of Apple Inc shares in their portfolios when compared to the iPhone maker's overall weighting in indexes, even as the shares hit record highs, according to a research note by investment bank UBS late Monday. Union calls for investigations of McDonald's rent policies LOS ANGELES (Reuters) - The Service Employees International Union, backer of a five-year campaign to improve pay and job conditions for fast-food workers, on Tuesday asked Illinois and California officials to investigate how McDonald's Corp calculates restaurant rents, which generate about one-fourth of its revenue. Related Video Infosys to hire 10,000 U.S. workers Breakingviews TV: Money-management woes 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