Reuters - Daily Investor Update

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Monday, May 22, 2017

Ford names James Hackett CEO as challenges mount

WASHINGTON/DEARBORN, Mich. (Reuters) - Ford Motor Co on Monday named James Hackett, who heads its unit developing self-driving cars, as chief executive officer, responding to investors' growing unease about the U.S. automaker's stock price and prospects.

New Ford CEO Hackett transformed Steelcase, U-M football

DETROIT (Reuters) - Ford Motor Co's new chief executive officer transformed office furniture maker Steelcase Inc into a global leader, but in Michigan, he may be more revered as the man who turned around a troubled college football program.

U.S. Justice Dept., Citigroup settle probe into Banamex USA

NEW YORK (Reuters) - The U.S. Department of Justice and Citigroup Inc said on Monday that they have settled a criminal investigation into violations of anti-money laundering rules and the Bank Secrecy Act at the bank's Banamex USA unit.

Euro zone may release new loans to Greece, will struggle for IMF to join

BRUSSELS (Reuters) - Euro zone finance ministers may agree on Monday to release new loans to Greece but are likely to struggle to convince the International Monetary Fund to join the bailout by keeping the prospect of debt relief for Athens highly conditional.

Long seen as partners, Huntsman and Clariant seal $14 billion merger

ZURICH/FRANKFURT (Reuters) - U.S.-based Huntsman Corp and Switzerland's Clariant AG are combining to create a chemical manufacturer with a market value of about $14 billion, the deal coming together after years of tentative mutual approaches.

Wall St. gains as defense, tech stocks rise

(Reuters) - Wall Street was higher in late morning trading on Monday, boosted by technology shares and as defense stocks rose after a multi-billion dollar arms deal between the United States and Saudi Arabia.

German government at odds with itself over Greek debt relief

BERLIN (Reuters) - Germany's coalition government split along party lines on Monday over the question of debt relief for Greece ahead of a crunch meeting in Brussels to tackle the thorny issue.

Greece needs fiscal room for investments: Germany's Gabriel

BERLIN (Reuters) - German Foreign Minister Sigmar Gabriel on Monday urged euro zone finance ministers and the International Monetary Fund to give Greece enough fiscal room to make growth-oriented investments in education, infrastructure and research and development.

Oil up on expectations of extended, possibly deeper, output cut

LONDON (Reuters) - Oil prices rose on Monday, bolstered by confidence that top exporters will this week agree to extend supply curbs, with suggestions the cuts could even be deepened.

Supreme Court rejects challenge to state retroactive tax changes

WASHINGTON (Reuters) - The U.S. Supreme Court on Monday declined to hear a challenge by several major corporations to a Michigan law that retroactively changed the way businesses are taxed in the state, leading to $1 billion extra for government coffers.