Reuters Daily Investor Update: May 3, 2017

Click to View in Browser Wednesday, May 3, 2017 American Air cuts two inches of legroom on some seats in new jets NEW YORK (Reuters) - American Airlines is shaving off an additional two inches of economy class legroom on some of the seats in its new Boeing Co 737 MAX jets, just as relations between U.S. airlines and their passengers sink to a new low. New York Times tops revenue estimates as digital subscriptions jump (Reuters) - The New York Times Co reported its biggest quarterly revenue growth in six years, beating Wall Street estimates, as digital subscriptions surged amid a media storm triggered by the U.S. presidential election. Sprint mum on M&A plans as quarterly loss narrows; shares down (Reuters) - Sprint Corp's shares slid 10 percent on Wednesday after the No. 4 U.S. wireless carrier did not give specifics on deals it would pursue, even as its quarterly loss narrowed and it recorded strong subscriber growth. GM expands car-sharing program Maven to get a bite of 'gig' economy (Reuters) - General Motors Co said on Wednesday it would expand its car-sharing operation, Maven, in the U.S. ride services market as the automaker looks to benefit from a growing 'gig' or freelance economy. U.S. private hiring slows, services growth speeds up in April (Reuters) - U.S. companies hired workers at a slower but still-solid pace in April, while the domestic services sector grew more than expected, supporting the notion the economic expansion remains on track despite a weak first quarter, private data released on Wednesday showed. Oil dips on small U.S. crude stock drop, weak gasoline demand NEW YORK (Reuters) - Oil prices edged lower Wednesday after U.S. government data showed a smaller-than-expected decline in domestic crude inventories and weak demand for gasoline, feeding concerns about a supply glut. Apple weighs on equities, dollar up before Fed decision NEW YORK (Reuters) - World stock markets fell on Wednesday as declines in iPhone sales brought about some concern about consumer strength, while the dollar edged higher before a U.S. central bank statement that may hint towards a rate hike next month. U.S. oil inventories dip, but gasoline builds amid weak demand: EIA (Reuters) - U.S. crude stockpiles fell less than expected last week, while gasoline inventories grew as demand remained weak, the Energy Information Administration said on Wednesday, keeping concerns about global supply on a simmer. Time Warner beats estimates; sees lower advertising (Reuters) - Time Warner Inc reported a better-than-expected quarterly profit, as revenue from box office hits including "The LEGO Batman Movie," and "Kong: Skull Island" helped offset declining ad sales. Wall St. lower as Apple weighs (Reuters) - U.S. stocks were lower in late morning trading on Wednesday as index-heavyweight Apple's disappointing report put a dampener on what has been a largely upbeat earnings season, with major stock indexes hovering near record highs. Related Video Facebook to add 3,000 workers to catch and remove violence Bitcoin soars to all-time high near $1,500 Related News Super-rich private equity stars rue 'lousy' reputation, say they are misunderstood Gundlach says U.S. dollar will stay on gentle weakening pattern Get a jump on the day with our early morning summary of key news developments for the US markets, as well as global market news. Register Today The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. 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