Reuters - Before the Bell

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Monday, September 18, 2017

South Africa's tax service to take legal action against KPMG

PRETORIA (Reuters) - South Africa's tax agency said on Monday it will launch legal proceedings against KPMG for reputational damage caused when the auditor released details of a confidential report it had compiled for the tax office.

South Africa's ruling party wants KPMG held to account for unethical conduct

JOHANNESBURG (Reuters) - South Africa's ruling party ANC on Monday said it wants auditor KPMG to account for unethical conduct after the tax service said it planned legal proceedings against the company for reputational damage from the leaking of a confidential report.

Ryanair pays a price for flight cancellations

DUBLIN (Reuters) - Ryanair shares fell on Monday after the Irish budget airline disrupted the plans of hundreds of thousands of travelers by cancelling flights to cope with pilot shortages and improve its punctuality record.

EU warns Ryanair on cancellation reimbursement, compensation

BRUSSELS (Reuters) - Ryanair has to comply with EU passenger rights, including possible reimbursement and compensation, over its plans to cancel between 40 and 50 flights per day until the end of October, the European Commission said on Monday.

Futures higher as North Korea tensions ease

(Reuters) - U.S. stock index futures were higher on Monday, indicating a continuation of last week's winning streak, as investor appetite for riskier assets increased on easing tensions on the Korean peninsula and ahead of Federal Reserve's rate-setting meeting.

World stocks reach new peak as Fed-focused week begins

LONDON (Reuters) - World stocks hit another record high on Monday and the dollar reached an eight-week peak against the yen on expectations the U.S. Federal Reserve will unveil plans this week to trim its bloated balance sheet.

Walgreens to revise Rite Aid stores deal for antitrust approval: Bloomberg

(Reuters) - Walgreens Boots Alliance Inc is set to revise its agreement to buy some Rite Aid Corp stores, a move that may be enough for the drugstore chain operator to resolve outstanding antitrust concerns, Bloomberg reported.

GM Ontario plant workers strike as talks with union fail

(Reuters) - Canada's Unifor union said its members at General Motors Co's CAMI auto assembly plant in Ingersoll, Ontario are on a strike from 1059 pm local time Sept. 17 as it failed to reach a tentative agreement with the automaker.

U.S. trial set to begin for ex-HSBC executive in foreign exchange scheme

NEW YORK (Reuters) - A former high-ranking HSBC Holdings Plc executive from Britain on Monday will become the first person to go to trial on charges stemming from a U.S. probe into foreign exchange rate manipulation.

U.S. appeals WTO ruling that it failed to withdraw Boeing tax break

GENEVA (Reuters) - The United States has appealed a ruling by the World Trade Organization which said it had not withdrawn a tax break for Boeing Co as required, a U.S. filing published by the global trade body showed on Monday.