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Tuesday, July 11, 2017

Futures slightly lower as banks cut oil price forecasts

(Reuters) - U.S. stock index futures were slightly lower on Tuesday ahead of comments from Federal Reserve policymakers as several banks cut their oil price forecasts amid global oversupply.

PepsiCo's quarterly profit beats on higher pricing

(Reuters) - PepsiCo Inc's quarterly profit beat estimates as higher pricing of sodas and snack foods in North America paid off and as the company sold its minority stake in British bottler Britvic Plc .

JP Morgan CEO says ops could be in several EU countries post-Brexit

PARIS (Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon said on Tuesday the bank would probably use Frankfurt as the legal domicile of its European operations after Brexit, though jobs could be put elsewhere as well.

Toshiba talking with Western Digital, Foxconn about chip unit sale: sources

TOKYO (Reuters) - Toshiba Corp told its creditor banks it is in talks with Western Digital Corp and Taiwan's Foxconn over the $18 billion sale of its prized chip unit in addition to its preferred bidder, banking sources familiar with the matter said on Tuesday.

Pearson cashes in $1 billion of its Penguin Random House stake

LONDON (Reuters) - Pearson is set to raise $1 billion from the sale of a 22 percent stake in book publisher Penguin Random House to majority owner Bertelsmann , in the British group's latest bid to rebuild following a string of profit warnings.

Audi seeks to eclipse emissions scandal with new technology-packed A8 car

BARCELONA (Reuters) - Battered by its emissions scandal, Audi launched its latest technology-packed A8 luxury saloon on Tuesday, aimed at overtaking rivals Mercedes-Benz and BMW as it struggles to overcome its biggest-ever corporate crisis.

Sunac China's shares soar as $9.3 billion Wanda property deal seen as positive

HONG KONG (Reuters) - Sunac China Holdings's planned $9.3 billion deal to buy Dalian Wanda's tourism projects and hotels is a bargain even though it could become China's most indebted developer, analysts said, a view that sent Sunac shares up nearly 14 percent on Tuesday.

Siemens files lawsuits against its own Russian JV and Russian state firm

MOSCOW (Reuters) - German engineering firm Siemens has filed lawsuits against its own Russian joint venture that produces turbines, and against a Russian state firm to which the venture sold turbines, according to court documents.

Chief of bitcoin exchange Mt. Gox denies embezzlement as trial opens

TOKYO (Reuters) - The 32-year-old chief executive of defunct Mt. Gox pleaded not guilty on Tuesday to charges relating to the loss of hundreds of millions of dollars worth of bitcoins and cash from what was once the world's biggest bitcoin exchange.

Amazon wins India's approval to invest in domestic food retail

MUMBAI (Reuters) - Online retail giant Amazon.com Inc has secured approval to stock and sell food and groceries in India, potentially expanding its business in the fast-growing economy where it is in a pitched battle with home-grown rival Flipkart.