Reuters - Daily Investor Update

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Monday, October 30, 2017

Europe lift sends world stock gauge to record; Wall St. dips

NEW YORK (Reuters) - A gauge of global equities hit an intraday record on Monday as a bounce in Spain helped lift European stocks, while Wall Street declined following a technology-led rally last week and a report that the U.S. House of Representatives was discussing a gradual tax cut.

Oreo maker Mondelez's revenue rises 2 percent

(Reuters) - Mondelez International Inc on Monday reported a 2.1 percent rise in net revenue in the third quarter as demand for key brands such as Oreos and Trident gum rose in Latin America and Europe.

Wall St. ends lower; Merck, Trump tax talk weigh

(Reuters) - U.S. stocks pulled back from record-high territory on Monday, weighed down by a drop in Merck shares, as investors assessed President Donald Trump's plan for corporate tax cuts.

Japan's SoftBank doubts merger of Sprint with T-Mobile: source

(Reuters) - SoftBank Group Corp's board of directors is having doubts about the merger it has been negotiating between its U.S. wireless subsidiary Sprint Corp and T-Mobile US Inc , due to fears of losing control of a combined entity, a source familiar with the matter told Reuters on Monday.

Ackman says ADP provided 'misleading' data to ISS: filing

BOSTON (Reuters) - Billionaire investor William Ackman on Monday accused Automatic Data Processing of providing misleading and incorrect data to Institutional Shareholder Services and asked the proxy advising firm to reconsider its recommendations.

U.S. consumer spending grows at fastest pace since 2009, savings drop

WASHINGTON (Reuters) - U.S. consumer spending recorded its biggest increase in more than eight years in September, likely as households in Texas and Florida replaced flood-damaged motor vehicles, but underlying inflation remained muted.

Citi analysts flag 'real risk' of Macy's dividend cut, shares tumble

CHICAGO (Reuters) - Shares in Macy's Inc tumbled more than 5 percent on Monday to a seven-year low after Citi analysts said the department store operator may cut its dividend to help pay down debt as it grapples with weak margins and foot traffic.

U.S. regulator wants to loosen leash on Wells Fargo: sources

WASHINGTON (Reuters) - A leading U.S. regulator wants to make it easier for Wells Fargo to pay employees when they leave, loosening a restriction in place since a phony accounts scandal hit the bank last year, according to people familiar with the matter.

Chevron drops decision to leave Bangladesh

DHAKA (Reuters) - The U.S. oil company Chevron will not sell three subsidiaries and leave Bangladesh as planned, Chevron said on Sunday.

Scandal-hit Kobe Steel seeks loans, shareholder offers support

TOKYO (Reuters) - Kobe Steel Ltd is seeking 50 billion yen ($440 million) in loans from banks, a banking source said on Monday, while a shareholder said it was ready to offer support as the company grapples with a scandal over falsified product specifications.