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Friday, May 26, 2017

First-quarter GDP revised up to 1.2 percent

WASHINGTON, May 26 (Reuters) - U.S. economic growth slowed less sharply in the first quarter than initially thought, but the weakness was likely an aberration amid a strong labor market that is near full employment.

Oil prices see-saw, sterling hit as May's lead shrinks

LONDON (Reuters) - Oil prices see-sawed on Friday after OPEC extended cuts in oil production but disappointed investors by not going further, while sterling slid after a poll showed the ruling Conservatives' lead shrinking two weeks before an election.

China's reforms not enough to arrest mounting debt: Moody's

BEIJING (Reuters) - China's structural reforms will slow the pace of its debt build-up but will not be enough to arrest it, and another credit rating cut for the country is possible down the road unless it gets its ballooning credit in check, officials at Moody's said.

Oil edges up after dip on disappointing OPEC meeting outcome

LONDON (Reuters) - Oil prices edged back up on Friday after a 5 percent fall in the previous session on disappointment that an OPEC-led decision to extend current production curbs did not go deeper.

Linde board to vote on Praxair merger on June 1: sources

MUNICH (Reuters) - German industrial gases group Linde's supervisory board is due to vote on a merger agreement with U.S. peer Praxair on June 1, two people close to the matter told Reuters on Friday.

Exclusive: Fidelity may back climate resolutions, a milestone for activists

BOSTON (Reuters) - Fidelity Investments may support shareholder proxy proposals calling on companies to report on sustainability matters this year, a major shift by the Boston asset manager as climate activists gain more traction at large U.S. corporations.

California says VW clean car spending plan has shortcomings

SAN FRANCISCO (Reuters) - California regulators said Volkswagen AG's spending plan on clean vehicle infrastructure had shortcomings and that it lacked details on how it would help disadvantaged communities as well as promote hydrogen fuel cell technology.

Japan's big insurers expand their appetites for U.S. Treasuries

TOKYO (Reuters) - Big Japanese life insurers, who are major bond investors globally, are primarily focusing on U.S. bonds while staying cautious on European bonds, earning reports and comments from industry executives show.

Safe Sex: Chinese buy condom business as savvy youth spur demand

SHANGHAI (Reuters) - April Zhang, a 21-year-old student from Shanghai, reflects the fast-shifting attitudes of China's younger generations toward sex. She's confident to talk about a topic once taboo here and is well educated about the risks.

Stuttgart prosecutor targets Bosch in Daimler diesel investigation

FRANKFURT (Reuters) - German prosecutors investigating whether carmaker Daimler manipulated emission tests on its diesel cars are looking at whether auto components supplier Bosch [ROBG.UL] was involved in the alleged fraud, it was confirmed on Friday.