Reuters - Before the Bell

Click to View in Browser

Tuesday, August 29, 2017

Power of love: China's latest arranged match rattles utilities

BEIJING (Reuters) - Beijing announced its latest arranged marriage by matching the country's top coal miner with one of its biggest utilities to create a global powerhouse worth $280 billion on China's Valentine's Day.

Factbox: Shenhua and Guodian - China's latest state marriage

BEIJING (Reuters) - China's top coal miner Shenhua Group Corp Ltd [SHGRP.UL] will take over China Guodian Group Corp [CNGUO.UL], among the country's top five state power producers, in a deal that will create the world's largest power utility worth $278 billion.

U.S. stock futures lower as North Korea missile test reignites concerns

(Reuters) - U.S. stock index futures were sharply lower on Tuesday, with the Dow e-minis down more than 100 points, as investors scampered to safe-haven assets after North Korea fired a ballistic missile over Japan, sparking concerns about fresh tensions between Washington and Pyongyang.

Best Buy beats earnings estimates, raises revenue forecast

(Reuters) - Best Buy Co Inc , the No.1 U.S. electronics retailer, reported better-than-expected quarterly earnings and sales on Tuesday, helped by strong demand for smartphones, connected home and wearable devices.

Lufthansa wants Air Berlin long-haul planes: source

FRANKFURT (Reuters) - German airline Lufthansa aims to take on around a dozen of Air Berlin's 17 long-haul aircraft in a carve-up of the insolvent carrier, a person familiar with the matter told Reuters on Tuesday.

North Korea missile and strong euro sink European stocks

MILAN (Reuters) - World stocks tumbled and safe-haven assets soared on Tuesday after North Korea fired a missile over northern Japan, fuelling worries of fresh tension between Washington and Pyongyang.

Philippines lifts Uber suspension after it pays nearly $10 mln in penalties

MANILA (Reuters) - The Philippines lifted its one-month suspension on Uber Technologies [UBER.UL] ahead of schedule on Tuesday after the ride-hailing firm paid almost $10 million in a fine and financial aid to its drivers affected by the halted operations.

Despite new U.S. sanctions, Russian oil traders say it's business as usual

MOSCOW (Reuters) - Russian oil companies will quickly find ways to work around tighter restrictions imposed this month by the United States on the foreign finance they can use, multiple Russian oil industry sources told Reuters.

Exclusive: Bloomberg charity scrutinized by India for anti-tobacco funding, lobbying - documents

NEW DELHI (Reuters) - India has been investigating how Bloomberg Philanthropies, founded by billionaire Michael Bloomberg, funds local non-profit groups for anti-tobacco lobbying, government documents show, making it the latest foreign non-government organization to come under scrutiny.

Oil prices dip as market grapples with hurricane damage

LONDON (Reuters) - Crude prices dipped on Tuesday as the market grappled with the shutdown of some 13 percent of refining capacity in the United States after a hurricane ripped through the heart of the country's oil industry.