Reuters Business Today: April 28, 2017

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Friday, April 28, 2017

U.S. first-quarter growth weakest in three years as consumer spending falters

WASHINGTON (Reuters) - The U.S. economy grew at its weakest pace in three years in the first quarter as consumer spending barely increased and businesses invested less on inventories, in a potential setback to President Donald Trump's promise to boost growth.

U.S. labor costs accelerate in first quarter

WASHINGTON (Reuters) - U.S. labor costs recorded their biggest gain since 2007 in the first quarter, suggesting wage growth was picking up as the labor market nears full employment.

Futures little changed ahead of first-qtr GDP data

(Reuters) - U.S. stock index futures were little changed on Friday as investors awaited the first-quarter report on gross domestic product, while assessing quarterly earnings.

U.S. truck, crossover sales help GM profit beat estimates

DETROIT (Reuters) - General Motors Co on Friday reported better-than-expected first-quarter net income driven by strong sales of its profitable large pickup trucks and crossovers in the United States, sending its shares up nearly 2 percent in premarket trading.

Chevron swings to first quarter profit on cost cuts, rising oil prices

HOUSTON (Reuters) - Oil producer Chevron Corp said on Friday it swung to a first-quarter profit due to cost cuts and rising crude prices .

Exxon Mobil profit beats Street as oil prices move higher

HOUSTON (Reuters) - Exxon Mobil Corp , the world's largest publicly traded oil producer, posted a better-than-expected quarterly profit on Friday, helped by rising crude prices and cost cuts.

Tech firms race to spot video violence

SINAGPORE (Reuters) - Companies from Singapore to Finland are racing to improve artificial intelligence so software can automatically spot and block videos of grisly murders and mayhem before they go viral on social media.

Google's search for non-ad revenue puts spotlight on cloud, Pixel

(Reuters) - Alphabet Inc's non-advertising business, which houses its cloud unit, Pixel smartphones and the Play store, has long been sandwiched between Google's advertising juggernaut and its moonshot ventures that have captured popular imagination.

Exclusive: Tesla's Klaus Grohmann ousted after clash with CEO Musk - sources

FRANKFURT (Reuters) - Tesla executive Klaus Grohmann was ousted last month after a clash with Chief Executive Elon Musk over the strategy of Grohmann's firm, which Tesla had acquired in November, a source familiar with the matter told Reuters.

Next battleground: An aging Great Lakes pipeline stirs new protest

CALGARY, Alberta (Reuters) - The growing protest movement against U.S. oil and gas pipelines has so far focused on stopping or delaying new construction, with some high-profile successes.

Reuters Business Today: April 28, 2017

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