Reuters Business Today: May 5, 2017

Click to View in Browser Friday, May 5, 2017 S&P 500 hits record on rebound in U.S. job growth, energy shares (Reuters) - Major U.S. stock indexes gained on Friday, with the S&P 500 ending at a record high close, as energy stocks bounced back along with oil prices and U.S. job growth rebounded. U.S. job growth rebounds sharply, unemployment rate hits 4.4 percent WASHINGTON (Reuters) - U.S. job growth rebounded sharply in April and the unemployment rate dropped to 4.4 percent, near a 10-year low, pointing to a tightening labor market that likely seals the case for an interest rate increase next month despite moderate wage growth. Fed's Williams pushes new approach to U.S. inflation goal NEW YORK (Reuters) - One of the Federal Reserve's experts on navigating a world of low inflation and economic growth said on Friday the U.S. central bank should seriously consider ditching its old policy framework for a new approach to hitting its price-level goal. Latest victim of retail downturn, Revlon tumbles 23 percent SAN FRANCISCO (Reuters) - Shares of Revlon slumped 23 percent on Friday and were headed for their biggest one-day drop since the financial crisis after the cosmetics company said declining mall traffic hurt its quarterly sales. Exclusive: Billionaire investor Draper to participate in blockchain token sale for first time NEW YORK (Reuters) - Billionaire venture capitalist Tim Draper soon plans to take a step that even he, a long-time bitcoin aficionado, has eschewed to now: buying a new digital currency offered by a technology startup. Trump signs spending bill, averting government shutdown WASHINGTON (Reuters) - President Donald Trump on Friday signed a $1.2 trillion spending bill approved by Congress, averting a government shutdown that would have begun at midnight. Oil rebounds on Saudi assurances Russia will extend supply cuts NEW YORK (Reuters) - Oil prices closed 1.5 percent higher on Friday, rebounding from five-month lows, following positive U.S. jobs data and assurances by Saudi Arabia that Russia is ready to join OPEC in extending supply cuts to reduce a persistent glut. FCC chairman wants to cut regulations, speed new innovation approvals WASHINGTON (Reuters) - The head of the Federal Communications Commission, Ajit Pai, said on Friday that the agency is continuing a sweeping regulatory review, keen to adapt rules to the digital age and get rid of rules that he said are barriers to business. Paul Singer's Elliott Management raises $5 billion in 24 hours: letter NEW YORK (Reuters) - Paul Singer's hedge fund firm Elliott Management Corp raised $5 billion in about 24 hours this week citing a major potential opportunity when "investor confidence is impaired," according to letters sent to investors that were seen by Reuters. Airbus well behind Boeing in January-April orders PARIS (Reuters) - Airbus sold 25 passenger jets in April, bringing total orders for the European planemaker so far this year to 51, well behind its U.S. rival Boeing. Related Video Breakingviews TV: IBM's Buffett blues Exclusive: Uber faces criminal probe over 'Greyball' 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