Reuters - Before the Bell

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Wednesday, May 31, 2017

Michael Kors gives weak forecast, to shut some stores

(Reuters) - Michael Kors Holdings Ltd gave a bleak full-year forecast and said it would shut more than 100 full-price retail stores in the next two years as the luxury fashion retailer struggles to turn around its brand.

Venezuelan opposition condemns Goldman for $2.8 billion bond deal

CARACAS/NEW YORK (Reuters/IFR) - Goldman Sachs Group Inc's statement that it never transacted directly with the government of Venezuelan President Nicolas Maduro when it bought $2.8 billion of bonds for pennies on the dollar was dismissed by the country's opposition on Tuesday as an effort to "put lipstick on this pig."

'Green' mutual funds bounce back after Trump-induced retreat

BOSTON (Reuters) - After U.S. President Donald Trump's election last November, investors pulled nearly $68 million from so-called "green" mutual funds, reflecting fear that his pro-coal agenda would hurt renewable energy firms.

Global stocks close lucrative May on a high, sterling hits eight-week low

LONDON (Reuters) - Stocks rose on Wednesday as investors looked to close the month on a high, while sterling fell after an opinion poll suggested the ruling Conservatives could lose seats in next week's UK general election, potentially leading to a hung parliament.

Brazil's J&F agrees to pay $3.2 billion fine in leniency agreement

SAO PAULO (Reuters) - J&F Investimentos, controlling shareholder of the world´s largest meatpacker, JBS SA , agreed with Brazilian prosecutors late on Tuesday to pay a 10.3 billion real ($3.2 billion) fine for its role in corruption scandals.

Futures little changed as investors seek fresh catalysts

(Reuters) - U.S. stock index futures were little changed on Wednesday, pressured by weak oil prices, with investors looking for fresh catalysts to trade on.

BA says IT collapse came after servers damaged by power problem

LONDON (Reuters) - A huge IT failure that stranded 75,000 British Airways passengers followed damage to servers that were overwhelmed when the power returned after an outage, the airline said on Wednesday.

Oil at three-week low as rising output risks OPEC-led deal

LONDON (Reuters) - Oil fell to a three-week low on Wednesday on news that Libyan output was recovering from a technical issue at an oilfield, fuelling concerns that OPEC-led output cuts on reducing global inventories were being undermined by producers outside the deal.

Exxon steps up efforts to sway shareholders on climate-report vote

HOUSTON/BOSTON (Reuters) - Exxon Mobil Corp has stepped up efforts to persuade investors to vote against climate-related proposals at Wednesday's annual meeting with a campaign of calling, writing and lobbying shareholders in person.

Deutsche Telekom CEO says U.S. M&A regulations look good under Trump

COLOGNE, Germany (Reuters) - Deutsche Telekom is optimistic about the regulatory environment in the United States under the Trump administration.