Reuters - Business Today

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Monday, July 17, 2017

Wall Street set to open flat in run-up to big earnings

(Reuters) - U.S. stocks looked set to open little changed on Monday as investors treaded water ahead of a busy earnings week from big U.S. companies.

Trian seeks seat for Peltz on P&G board

(Reuters) - Nelson Peltz's Trian Fund Management LP said on Monday it was seeking a seat for its billionaire chief executive at Procter & Gamble Co's board as it looks to push the company to take more drastic steps to revive sales.

Lack of voting rights may keep Snap, others from MSCI indexes

BOSTON (Reuters) - MSCI Inc has proposed leaving shares of Snap Inc and other companies including Eaton Vance Corp out of stock indexes because they lack voting rights, a sign of the rising skepticism facing corporate structures that boost the power of insiders.

Low-fee BlackRock funds rake in cash but revenues disappoint

NEW YORK (Reuters) - BlackRock Inc, the world's biggest asset manager, reported a massive influx of cash into its low-cost funds but nonetheless fell short of Wall Street's forecasts as price cuts and lower performance fees dented revenue.

Major tech firms urge U.S. to retain net neutrality rules

WASHINGTON (Reuters) - A group representing major technology firms including Alphabet Inc and Facebook Inc urged the U.S. Federal Communications Commission on Monday to abandon plans to reverse the landmark 2015 rules barring internet service providers from blocking or slowing consumer access to web content.

Didn't pay your Macy's bill? Expect a text from Citigroup

NEW YORK (Reuters) - When consumers have trouble making ends meet, bills from retailers that have gone bankrupt or closed tend to go toward the bottom of the pile.

Qualcomm loses appeal against EU threat of daily fine

BRUSSELS (Reuters) - U.S. chipmaker Qualcomm faces the threat of a daily fine of 580,000 euros ($665,000) for failing to provide EU antitrust regulators with information after losing an appeal against the penalty in an EU court on Monday.

China's strong second-quarter GDP growth paves way for deeper reforms

BEIJING (Reuters) - China's economy expanded faster-than-expected in the second quarter, setting the country on course to comfortably meet its 2017 growth target and giving policymakers room to tackle big economic challenges ahead of key leadership changes later this year.

ECB eyes review of Deutsche Bank shareholders: source

FRANKFURT (Reuters) - Europe's top banking regulator, the European Central Bank (ECB), is considering carrying out a review of Deutsche Bank's two largest shareholders, a regulatory source said on Monday.

BNY Mellon names former Visa CEO to top job

(Reuters) - Bank of New York Mellon Corp , the world's largest custodian bank, appointed former chief executive of Visa Inc Charles Scharf as its CEO, effective immediately.