Bhinneka News Online: Reuters Business Today: June 13, 2017

Tuesday, 13 June 2017

Reuters Business Today: June 13, 2017

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Tuesday, June 13, 2017

Wall St. to open higher on tech recovery; Fed in focus

(Reuters) - U.S. stocks looked set to open higher on Tuesday as technology shares staged a recovery after a two-day rout, while investors awaited the Federal Reserve to kick off a meeting, where it is almost certain to raise interest rates.

Fed set to raise interest rates, give more detail on balance sheet winddown

WASHINGTON (Reuters) - The U.S. Federal Reserve is widely expected to raise its benchmark interest rate this week due to a tightening labor market and may also provide more detail on its plans to shrink the mammoth bond portfolio it amassed to nurse the economic recovery.

Exclusive: Renault-Nissan considers hidden bonus plan - documents

PARIS (Reuters) - Renault-Nissan alliance bankers have drawn up plans designed to channel millions of euros in additional, undisclosed bonuses to Chairman Carlos Ghosn and other managers via a specially created service company, according to documents seen by Reuters.

Bill Gross advises investors to cut risk on U.S. growth woes

NEW YORK (Reuters) - Bond investor Bill Gross warned on Tuesday that investors should reduce their risk appetite, given the U.S. growth rate is stunted by secular forces "which monetary and even future fiscal policies seem unable to reverse."

Oil edges down as OPEC sees market rebalancing at slower pace

LONDON (Reuters) - Oil prices edged down on Tuesday after OPEC reported an increase in its production for May despite a supply cut agreement and said the oil market was rebalancing more slowly than expected.

Exclusive: GE begins testing drones to inspect refineries, factories - executive

SEATTLE (Reuters) - General Electric Co has begun testing autonomous drones and robotic "crawlers" to inspect refineries, factories, railroads and other industrial equipment with an eye on capturing a bigger slice of the $40 billion companies around the globe spend annually on inspections.

U.S. shale firms more exposed to falling oil prices as hedges expire

(Reuters) - Cash-strapped U.S. shale firms scaled back their hedging programs in the first quarter, leaving them more vulnerable to tumbling spot market prices just after OPEC reached a landmark deal to curb global supply.

Misappropriated 1MDB funds helped finance $2.2 billion energy firm deal - U.S. lawsuit

KUALA LUMPUR (Reuters) - Money misappropriated from a Malaysian state fund was used to partly finance the $2.2 billion acquisition of Houston-based Coastal Energy in 2014, the U.S. government alleged in a lawsuit filed last week.

Toshiba faces fresh lawsuit, plans provision for year ended March

TOKYO (Reuters) - Toshiba Corp on Tuesday said it was being sued by another group of foreign investors for 43.9 billion yen ($399 million) in damages over a $1.3 billion accounting scandal uncovered two years ago.

OPEC sees oil market rebalancing at slower pace, says output rises

LONDON (Reuters) - OPEC on Tuesday said a long-awaited rebalancing of the oil market was under way at a "slower pace" and reported that its own output in May jumped due to gains in nations exempt from a pact to reduce supply.