Reuters - Before the Bell

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Wednesday, April 26, 2017

Oil falls on bulging U.S. crude inventories, ample global supplies

SINGAPORE (Reuters) - Oil prices resumed their downward trend on Wednesday as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt on OPEC's ability to cut supplies and tighten the market.

Daimler says diesel probes could result in penalties, recalls

FRANKFURT (Reuters) - Daimler said recent steps by United States authorities to investigate diesel emissions pollution and so-called auxiliary emission control devices, could lead to significant penalties and vehicle recalls.

Mining giants race to fill board leadership gaps

LONDON (Reuters) - Three of the world's biggest miners are hunting for new leaders for their boards at a time when the industry faces questions from investors about its conventional diversified business operations and strategies for growth.

Hyundai Motor first quarter profit slides as China political row, U.S. recall drag

SEOUL (Reuters) - South Korea's Hyundai Motor posted a 21 percent fall in quarterly net profit, dragged down by a U.S. recall and sales declines in China stemming from political tensions.

Asian stocks near two-year high on U.S. optimism, euro steady

HONG KONG (Reuters) - Asian stocks extended gains for a fifth consecutive day on Wednesday, as renewed optimism about the world's biggest economy brightened the outlook for risky assets while the euro held on to previous gains as political concerns in France ebbed.

Credit Suisse to raise $4 billion in rights issue, ditches Swiss unit IPO

ZURICH (Reuters) - Credit Suisse will raise around 4 billion Swiss francs ($4 billion) through a rights offering to catch up to European rivals on capital, ditching plans to float a minority stake in its Swiss banking unit.

Tyson Foods eyes higher wages as U.S. labor market tightens

CHICAGO (Reuters) - Tyson Foods Inc , the biggest U.S. chicken company, said on Wednesday it may raise wages again for workers at all of its poultry plants, a sign of an intensifying battle for employees in a tightening labor market.

China banks miss out on U.S. investment banking bonanza

NEW YORK (Reuters) - As scores of investment bankers profit from the fee bonanza offered by Chinese companies hunting for deals in the United States, one group is conspicuously absent - Chinese banks.

Toshiba plans to replace auditor PwC after earnings impasse

TOKYO (Reuters) - Toshiba Corp, the troubled Japanese conglomerate, wants to replace auditor PricewaterhouseCoopers Aarata (PwC) to resolve an impasse over full-year earnings and remain listed, two sources briefed on the matter said.

McDonald's drops plan to sell shares in Japan unit

TOKYO (Reuters) - McDonald's Corp has put on hold plans to sell shares in its Japan unit, which recently returned to profit for the first time in three years after a series of food scandals shook consumer confidence in the chain.