Monday, 12 June 2017

Reuters Business Today: June 12, 2017

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Monday, June 12, 2017
Wall St. falls as Apple drags tech shares lower
NEW YORK (Reuters) - Apple shares added to last week's drop on Monday to lead a market downturn as tech, still the best performing S&P 500 sector this year, succumbed under its own weight.
GE wins U.S. antitrust approval for Baker Hughes purchase
WASHINGTON (Reuters) - General Electric Co won U.S. antitrust approval to merge its oil and gas business with Baker Hughes Inc , the Justice Department said on Monday.
Uber CEO Kalanick likely to take leave, SVP Michael out: source
SAN FRANCISCO (Reuters) - Uber Technologies Inc [UBER.UL] Chief Executive Travis Kalanick is likely to take a leave of absence from the troubled ride-hailing company, but no final decision has yet been made, according to a source familiar with the outcome of a Sunday board meeting.
U.S. recession remote in next 12 months: Deutsche Bank
NEW YORK (Reuters) - Chances are remote the U.S. economy will fall into a recession in the next 12 months despite a recent flattening of the U.S. yield curve suggesting growing recession risk, Deutsche Bank's economists said on Monday.
GE's new CEO to review portfolio 'with no constraint'
(Reuters) - General Electric Co's incoming chief executive said on Monday he will conduct a swift review of the business portfolio, and signaled its strategy of selling software-related services across its many divisions will remain the heart of GE for decades.
Tech rout sparks search for value
NEW YORK (Reuters) - The "sell in May" memo arrived a bit late in some investors' inboxes this year.
Warren Buffett to encourage investing in Israel bonds
NEW YORK (Reuters) - Billionaire investor Warren Buffett will travel to New York this week to help Israel sell government bonds, an arm of the Israeli government said on Monday.
Trump says anti-dumping bill for steel, aluminum coming soon
WASHINGTON (Reuters) - Legislation to address the dumping of foreign steel and aluminum in the United States will come "soon," U.S. President Donald Trump told reporters at the White House on Monday.
U.S. top court rules for Microsoft in Xbox class action fight
WASHINGTON (Reuters) - The U.S. Supreme Court on Monday ruled in favor of Microsoft Corp in its bid to fend off class action claims by Xbox 360 owners who said the popular videogame console gouges discs because of a design defect.
TransDigm's shares fall as Senator Warren seeks probe
(Reuters) - Shares of TransDigm Group Inc fell as much as 7.3 percent to $250.18 on Monday, after Massachusetts Senator Elizabeth Warren called for an investigation into the aircraft components supplier's government contracts.
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