Reuters - Business Today

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Thursday, November 16, 2017

Europe's longest stocks sell-off of the year abates

LONDON (Reuters) - Investors tentatively returned to world stock markets looking for bargains on Thursday, after Europe's longest losing streak of the year and the worst run since March for the top global indices.

Wal-Mart third-quarter sales boosted by hurricanes, online; shares jump

CHICAGO (Reuters) - Wal-Mart Stores Inc , the world's largest retailer, reported better-than-expected quarterly sales at established U.S. stores on Thursday, boosted by hurricane-related purchases and soaring online sales, sending its shares up 4.4 percent.

Emerson sweetens bid for Rockwell Automation to $29 billion

(Reuters) - Emerson Electric Co boosted its offer to buy Rockwell Automation Inc to about $29 billion, after the smaller rival rebuffed a $27.6 billion bid last month saying it undervalued the company.

Tesla to unveil electric big-rig truck in midst of Model 3 factory 'hell'

SAN FRANCISCO (Reuters) - Tesla Inc on Thursday will unveil a prototype electric big-rig truck, which may be able to drive itself, throwing the company into a new market even as it struggles to roll out an affordable sedan which is central to the company's future.

Rights groups pressure IBM to renounce interest in Trump's 'extreme vetting'

WASHINGTON (Reuters) - A coalition of rights groups launched an online petition on Thursday urging IBM Corp to renounce a Trump administration proposal to use technology to identify people for visa denial and deportation from the United States.

T-Mobile US to propose significant share buyback

BARCELONA (Reuters) - T-Mobile US will propose a "significant" share buyback that could start in December, CFO Braxton Carter said on Thursday, a sign that the third biggest carrier in the United States is confident in its outlook after the collapse of a merger with Sprint Corp.

Meredith, Time Inc restart deal talks with Koch brothers' support: NYT

(Reuters) - Time Inc is in talks with Meredith Corp again to sell itself in a potential deal backed by billionaire brothers Charles Koch and David Koch, the New York Times reported.

Best Buy falls short with holiday profit forecast

(Reuters) - Best Buy Co Inc reported disappointing third-quarter results on Thursday and forecast holiday-quarter profit below Wall Street estimates as it cut prices to match those offered by rivals including Amazon.com Inc .

Viacom beats revenue estimates despite distribution headwinds

(Reuters) - Viacom Inc , owner of MTV, Comedy Central and Paramount, reported mixed quarterly results Thursday as higher-than-expected revenue in its film unit and improved domestic ad sales offset lower revenue from U.S. cable TV operators and online distributors.

Exclusive: Mattel snubs Hasbro's latest acquisition approach - sources

(Reuters) - Mattel Inc has rebuffed Hasbro Inc's latest takeover approach, people familiar with the matter said on Wednesday, casting uncertainty over the potential combination of the world's two largest toy companies.