Monday, 22 May 2017

Reuters Business Today: May 22, 2017

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Monday, May 22, 2017
Wall Street ends up; defense, tech stocks a boost
NEW YORK (Reuters) - U.S. stocks rose on Monday, boosted by technology shares and by defense companies, which gained after the United States and Saudi Arabia signed a multi-billion dollar arms deal.
Ford names Hackett as CEO to tackle car rivals, Silicon Valley
WASHINGTON/DEARBORN, Mich. (Reuters) - Ford Motor Co abruptly named James Hackett as chief executive on Monday, responding to investors' growing unease about the U.S. automaker's slumping stock price and its ability to counter threats from longtime rivals and Silicon Valley.
U.S. top court tightens patent suit rules in blow to 'patent trolls'
WASHINGTON (Reuters) - The U.S. Supreme Court on Monday tightened rules for where patent lawsuits can be filed in a decision that may make it harder for so-called patent "trolls" to launch sometimes dodgy patent cases in friendly courts, a major irritant for high-tech giants like Apple and Alphabet Inc's Google.
In Bombardier fight, Boeing sees ghost of Airbus ascent
PARIS/SEATTLE (Reuters) - Two words underpin Boeing's decision to launch a U.S. trade complaint against Bombardier , which plunged it into a row with Canada last week: "Never again".
Shareholders go to court seeking to oust Akzo chairman
AMSTERDAM (Reuters) - Akzo Nobel shareholders angered by the Dulux paint maker's rejection of a 26.3 billion euro ($29.5 billion) takeover proposal from U.S. rival PPG Industries took their fight to an Amsterdam court on Monday.
China slaps import duties on sugar; experts question impact
BEIJING (Reuters) - China said on Monday it will impose hefty penalties on sugar imports after lobbying by domestic mills, but experts said the ruling may not go far enough to stem the flow of lower-priced sweetener into the world's top importer.
German government at odds with itself over Greek debt relief
BERLIN (Reuters) - Germany's coalition government split along party lines on Monday over the question of debt relief for Greece ahead of a crunch meeting in Brussels to tackle the thorny issue.
Supreme Court rejects challenge to state retroactive tax changes
WASHINGTON (Reuters) - The U.S. Supreme Court on Monday declined to hear a challenge by several major corporations to a Michigan law that retroactively changed the way businesses are taxed in the state, leading to $1 billion extra for government coffers.
GE faces EU probe related to LM Wind Power deal
(Reuters) - General Electric Co said on Monday that the European Union's competition watchdog is investigating whether the industrial conglomerate provided misleading information during a merger review.
U.S. Justice Dept., Citigroup settle probe into Banamex USA
NEW YORK (Reuters) - The U.S. Department of Justice and Citigroup Inc said on Monday that they have settled a criminal investigation into violations of anti-money laundering rules and the Bank Secrecy Act at the bank's Banamex USA unit.
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