Breaking business news for July 25, 2017

Click to View in Browser Tuesday, July 25, 2017 Michael Kors to buy luxury shoemaker Jimmy Choo for $1.2 billion LONDON (Reuters) - U.S. retailer Michael Kors has agreed to buy luxury shoemaker Jimmy Choo for $1.2 billion, snapping up a British company whose towering stilettos have been made famous by celebrity customers from Princess Diana to Kendall Jenner. Caterpillar, McDonald's to lift S&P, Dow at open (Reuters) - The S&P and the Dow looked set to open higher on Tuesday, helped by strong earnings from Caterpillar and McDonald's, but Google-parent Alphabet may weigh on the tech-heavy Nasdaq. GM profit beats Wall Street estimates, promises to cut inventory DETROIT (Reuters) - General Motors Co on Tuesday reported a better-than-expected quarterly net profit from continuing operations despite falling revenue and promised to cut production in the second half to curtail its burgeoning inventory of unsold vehicles. Caterpillar smashes profit estimates, raises 2017 forecast again (Reuters) - Caterpillar Inc smashed Wall Street's profit estimates and raised its full-year forecast for the second time, driven by improving demand in China and a recovery in mining activity. McDonald's U.S. same-restaurant sales beat estimates (Reuters) - McDonald's Corp on Tuesday reported a higher-than-expected rise in quarterly sales at established U.S. restaurants, helped by promotions on beverages as well as the launch of signature crafted sandwiches. DuPont beats on strong demand in agriculture business (Reuters) - Chemicals and seeds company DuPont , which is merging with Dow Chemical , beat analysts' estimates for both profit and revenue on Tuesday, helped by higher sales in its agriculture business. Domino's delivers Street-beating sales and profit (Reuters) - Domino's Pizza Inc reported better-than-expected quarterly revenue and profit, boosted by store openings, lower food costs and higher supply chain revenues from franchises. Activist investor urges sale of Barnes & Noble (Reuters) - Activist investor Sandell Asset Management Corp on Tuesday urged Barnes & Noble Inc to sell itself, saying internet and media companies or private equity firms might be interested in buying the U.S. bookstore chain operator. Biogen raises 2017 forecast on Spinraza success (Reuters) - Biogen Inc's second-quarter profit smashed estimates on Tuesday, boosted by strong sales of its spinal muscular atrophy (SMA) drug, Spinraza, which is priced at $750,000 for the first year of therapy. Citigroup hosts investors for first time since the financial crisis NEW YORK (Reuters) - For the first time since receiving three government bailouts during the 2007-2009 financial crisis, Citigroup Inc on Tuesday is holding a day-long conference for investors, marking another step in the recovery of what was once the biggest U.S. bank. Related Video Alphabet adds to cash pile despite higher costs No deal on Russia sanctions bill yet, says key U.S. senator 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