Reuters - Before the Bell

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Tuesday, May 16, 2017

Oil prices rise on expectation of extended crude supply cut

SINGAPORE (Reuters) - Oil prices rose on Tuesday, extending gains after a joint announcement by top producers Saudi Arabia and Russia to push for an extension of supply cuts until the end of March 2018 gained traction.

Japan urges Toshiba, Western Digital to get along as chip spat flares

TOKYO (Reuters) - Japan's government said on Tuesday it wanted Toshiba Corp and partner Western Digital Corp to cooperate, expressing concern about an escalating dispute between the two that threatens to upend the sale of Toshiba's chip unit.

Western Digital takes legal action to block sale of Toshiba's chip unit

TOKYO (Reuters) - Western Digital Corp has sought international arbitration to stop partner Toshiba Corp from selling its chips arm without its consent, potentially derailing a much-needed capital injection for the Japanese conglomerate.

Researchers say global cyber attack similar to North Korean hacks

SEOUL/WASHINGTON (Reuters) - Cybersecurity researchers have found evidence they say could link North Korea with the WannaCry cyber attack that has infected more than 300,000 computers worldwide as global authorities scrambled to prevent hackers from spreading new versions of the virus.

Ransomware attack again thrusts U.S. spy agency into unwanted spotlight

WASHINGTON (Reuters) - An unprecedented global cyber attack that infected computers in at least 150 countries beginning on Friday has unleashed a new wave of criticism of the U.S. National Security Agency.

Absent from America, French cars drive into Iran election

LONDON/PARIS/FRANKFURT (Reuters) - French carmakers PSA and Renault are turning their U.S. absence into an Iranian advantage by piling into a resurgent market still off-limits to foreign rivals fearful of sanctions under Donald Trump's administration.

U.S. home appliances shipments rise 13.7 percent year-on-year in April

STOCKHOLM (Reuters) - Deliveries of the six biggest categories of white goods (AHAM 6) in the United States rose 13.7 percent year-on-year in April, data from industry body Association of Home Appliance Manufacturers (AHAM) showed late on Monday.

Asia stocks at two-year highs, look pricey; oil climbs

HONG KONG (Reuters) - Asian stocks climbed to a fresh-two year high on Tuesday on the back of an overnight rise in Wall Street, while oil extended gains after major producers Saudi Arabia and Russia pledged to push for an extension of supply cuts into 2018.

Euro sets one-week high ahead of GDP data; dollar inches lower

SINGAPORE (Reuters) - The euro touched a one-week high on Tuesday ahead of the release of euro zone gross domestic product data, as the dollar struggled to gain traction in the wake of a surprisingly soft U.S. manufacturing report.

Ford to cut North America, Asia salaried workers by 10 percent: source

WASHINGTON/DETROIT (Reuters) - Ford Motor Co plans to shrink its salaried workforce in North America and Asia by about 10 percent as it works to boost profits and its sliding stock price, a source familiar with the plan told Reuters on Monday.