Reuters - Daily Investor Update

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Tuesday, September 19, 2017

Toys 'R' Us seeks bankruptcy to survive retail upheaval

(Reuters) - Toys 'R' Us Inc got court permission on Tuesday to borrow more than $2 billion to start paying suppliers so it can stock up on items like Lego building blocks and Barbie dolls for the holiday season, a day after it filed for bankruptcy.

T-Mobile US explores takeover of Sprint: source

(Reuters) - U.S. wireless carrier T-Mobile US Inc is exploring taking over rival Sprint Corp in an all-stock deal, after SoftBank Group Corp offered to give up its majority ownership of Sprint, a person familiar with the matter said.

FedEx quarterly profit falls

(Reuters) - Package delivery company FedEx Corp on Tuesday reported a lower quarterly net profit due to service disruptions following June's Petya cyber attack on its Dutch delivery unit TNT Express and the impact of Hurricane Harvey.

Ford to cut production at five North American vehicle plants

DETROIT (Reuters) - Ford Motor Co said on Tuesday it plans to idle five North American vehicle assembly plants for a total of 10 weeks to reduce inventories of slow-selling models.

Wall St edges up on financials as Fed eyed

NEW YORK (Reuters) - U.S. stocks closed slightly higher on Tuesday but trading was in a narrow range with financial stocks providing the biggest boost ahead of the conclusion of the Federal Reserve's two-day policy meeting.

Activist lifts Clariant stake, aiming to scuttle Huntsman deal

ZURICH (Reuters) - The activist investor fighting Clariant's planned $20 billion merger with Huntsman Corp has built a 15.1 percent stake that makes it the biggest shareholder in the Swiss chemicals maker.

Massachusetts sues Equifax as hack concerns spread to Canada

(Reuters) - Massachusetts Attorney General Maura Healey filed a lawsuit on Tuesday against credit reporting firm Equifax Inc following a breach that exposed the personal data of up to 143 million people, including 3 million in the state.

U.S. bankruptcy judge says will approve loan for Toys 'R' Us

WILMINGTON, Del (Reuters) - The U.S. Bankruptcy judge overseeing the Chapter 11 of Toys 'R' Us said on Tuesday he would approve the company's request to borrow more than $2 billion to help stabilize the largest U.S. toy chain as it builds inventory for the year-end shopping season.

U.S. watchdog settled for small fine over Wells Fargo phony accounts: report

WASHINGTON (Reuters) - A consumer watchdog agency could have levied $10 billion in penalties against Wells Fargo & Co last year for opening unauthorized customer accounts, but settled for a fraction of that to resolve the matter quickly, according to regulatory documents released on Tuesday.

Exclusive: Toshiba flips back towards Western Digital group for chip unit sale - sources

TOKYO (Reuters) - Toshiba Corp is shifting back toward selling its prized semiconductor unit to a group backed by joint venture partner Western Digital Corp , people familiar with the deal said.