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Monday, September 25, 2017

Dudley sees Fed rate hikes as U.S. inflation weakness fades

SYRACUSE, N.Y. (Reuters) - The Federal Reserve is on track to gradually raise interest rates given factors depressing inflation are "fading" and the U.S. economy's fundamentals are sound, an influential Fed policymaker said on Monday.

ABB buys GE business for $2.6 billion in bet it can boost margins

ZURICH (Reuters) - Power grids maker ABB is buying General Electric's Industrial Solutions business for $2.6 billion in a bet it can improve the division's lackluster margins over the next five years, the Swiss engineering company said on Monday.

AIG to restructure operations into three business units

(Reuters) - American International Group Inc said on Monday it would reorganize into three new business units and will no longer have Commercial and Consumer businesses.

DR Horton cuts cash flow forecast 50 percent on hurricanes

(Reuters) - D.R. Horton Inc , the No.1 U.S. homebuilder, drastically cut its 2017 forecast for cash flow from operations due to delays caused by the recent hurricanes, becoming the second homebuilder to say natural disasters have hurt operations.

Exclusive: Toshiba tells banks chip deal delayed as Apple yet to approve

TOKYO (Reuters) - Toshiba Corp told its main banks on Monday it has not signed the $18 billion sale of its semiconductor business because Apple Inc , a member of the buyer group, has not agreed on key terms, two people involved in the deal said.

Target raises minimum hourly wage to $11, pledges $15 by end of 2020

CHICAGO (Reuters) - Target Corp said on Monday it would increase its minimum hourly wage this year by a dollar to $11, vowing to raise this by the end of 2020 to $15 an hour -- the so-called "living wage" labor advocates across the United States are campaigning for.

Unilever steps up beauty push with $2.7 billion Carver Korea deal

SEOUL/LONDON (Reuters) - Unilever has agreed to pay 2.27 billion euros ($2.71 billion) to buy fast-growing cosmetics company Carver Korea in its latest move to build a global beauty business.

Apologizing to London, Uber CEO offers change to keep license

LONDON (Reuters) - Uber's new boss [UBER.UL] apologized to Londoners for the taxi app's mistakes and pledged to make changes as the Silicon Valley firm tries to overturn a decision to strip it of its license in one of its major markets.

P&G, Peltz vie for small investor votes in biggest-ever proxy fight

NEW YORK (Reuters) - The largest corporate proxy fight in history, between Procter & Gamble Co and activist investor Nelson Peltz, may ultimately be decided by small shareholders like Tom Neubecker.

Walt Disney threatens to pull ESPN, ABC from Optimum

NEW YORK (Reuters) - Walt Disney Co has threatened to pull its programming from the fourth largest U.S. cable distributor, Altice USA, if the two parties cannot reach a deal before the end of the month, the cable company said on Sunday.