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 Oil prices creep back near $50 a barrel; Memorial Day drivers still getting a bargain compared to a year ago
USA TODAY, May 26, 2016 Thursday

 Oil prices edged closer to the $50 mark Wednesday as U.S. motorists and other users continued to slurp through the glut, lowering inventories. The price of West Texas Intermediate oil, the U.S. benchmark crude, rose 94 cents to $49.56 following reports late Tuesday the American Petroleum Institute's crude inventory count fell 5.2 million barrels for the week. The price of Brent crude, the global benchmark, rose $1.13 to $49.74.
 Citibank to pay $425M to settle CFTC charges; Allegations focused on manipulation of financial benchmarks
USA TODAY, May 26, 2016 Thursday

 Citibank agreed to pay $425 million in fines to settle civil charges it attempted to manipulate financial benchmarks between 2007 and 2012, a federal regulator said Wednesday.
 Salesforce to Use Amazon's Cloud to Expand in Canada and Australia
The New York Times, May 26, 2016 Thursday

 Amazon Web Services, the biggest of the cloud-computing providers, has a new line of work: Taking other cloud-computing giants into other countries. On Wednesday, Salesforce.com announced it would use A.W.S. to expand in Canada and Australia, in a deal valued at about $400 million. If successful, the value of the transaction will most likely get much bigger.
 Ford Recalls Some F-150 Pickups for Potential Brake Problem
The New York Times, May 26, 2016 Thursday

 Ford is recalling about 271,000 2013-14 F-150 pickups with 3.5-liter V-6 engines because the brakes may malfunction, the automaker said on Wednesday. The company said it was aware of nine accidents but no injuries.
 Microsoft Smartphone Unit Will Cut Up to 1,850 Jobs
The New York Times, May 26, 2016 Thursday

 SEATTLE -- Microsoft is making further cuts to what is left of its ailing smartphone business, as sales of the devices continue to fade. The company said on Wednesday that it would eliminate up to 1,850 jobs as a result of the cutbacks, about 1,350 of them in Finland, where the mobile business that Microsoft acquired from Nokia a couple of years ago originated. Microsoft will take an accounting charge of $950 million related to the cuts, it said.   In an email to all Microsoft employees sent...
 Sanofi to Seek Removal of Medivation Board in Takeover Fight
The New York Times, May 26, 2016 Thursday

 LONDON -- The French pharmaceutical company Sanofi said on Wednesday that it would seek to replace the board of Medivation after the American drug maker's directors rejected a $9.3 billion takeover offer.
 Monsanto spurns Bayer's $62B offer
USA TODAY, May 25, 2016 Wednesday

 Agricultural and seed giant Monsanto has turned down German drug company Bayer AG's $62 billion acquisition bid as "financially
 Toyota adds 1.6M vehicles to takata air bag recall
USA TODAY, May 25, 2016 Wednesday

 Toyota is adding nearly 1.6 million more cars to its recall of vehicles with Takata air bags, it was announced Monday. The recall involves front passenger air bags on vehicles as much as a decade old. The new vehicles added to the recall include the 2006 to 2011 Yaris and Lexus IS; 2010-11 4Runner and Lexus GX; 2011 Sienna; 2008 to 2011 Scion xB; and 2007 to 2011 Lexus ES.
 Surprise spinoff catapults HPE, CSC stock; Hewlett Packard Enterprise should grow faster after merger with Computer Sciences, CEO says
USA TODAY, May 25, 2016 Wednesday

 Less than a year after a landmark split halved Hewlett Packard into two $50 billion companies, the software half is at it again. Hewlett Packard Enterprise (HPE), run by Meg Whitman, on Tuesday said it was spinning off its enterprise services business and merging it with Computer Sciences Corp. (CSC) to create an IT services firm with $26 billion in annual sales.
 Jaguar, Tesla top list for defects; Have highest rate of software glitches, survey finds
USA TODAY, May 25, 2016 Wednesday

 Software glitches are increasingly bedeviling automakers, with Tesla Motors and Jaguar Land Rover leading the pack when it comes to the highest rate of defects, according to a new survey released Tuesday.
 Best Buy shares fall as CFO exits
Star Tribune (Minneapolis, MN), May 25, 2016 Wednesday

 Best Buy Co. is losing one of the key architects of its turnaround strategy, leaving investors to wonder whether it is played out. Shares of the Richfield-based electronics retailer dropped 7.4 percent Tuesday as investors adjusted to the double whammy of the departure of Chief Financial Officer Sharon McCollam and a forecast for lower-than-expected profit in the summer months. McCollam will slip back into an early retirement after three and a half years as Chief Executive Hubert Joly's...
 Valspar falls short of 2Q profit forecast
Star Tribune (Minneapolis, MN), May 25, 2016 Wednesday

 The soon-to-be-sold Minneapolis-based paint giant Valspar Corp. saw second-quarter profits fall 11 percent compared with the same period a year ago.
 U.S. companies aren't as flush with cash as you might think; Debt levels continue to explode, but investors aren't worried -- yet
USA TODAY, May 25, 2016 Wednesday

 U.S. companies are sitting on a record $1.8 trillion in cash and investments. One problem. They also are on the hook for $6.6 trillion in debt. Talk about being cash rich but debt poor. U.S. companies hold 28 cents in cash for every dollar they must repay in debt, the lowest cash-to-debt ratio since the financial crisis wound down in 2009. It's even uglier if you exclude the 1% richest companies. The other 99% of the less fortunate companies have 15 cents in cash for every $1 in debt they...
 Big Carmakers Bet on Future of Motoring
The New York Times, May 25, 2016 Wednesday

 SAN FRANCISCO -- Automakers are looking toward a technology-driven future, one where they increasingly acknowledge that getting around may not require owning a car. On Tuesday, two of the world's largest automakers, Toyota and Volkswagen, said they were stepping up to invest in technology start-ups that are working to change the way people travel by car. Toyota said it had formed a partnership with and invested an undisclosed amount in Uber, the biggest ride-hailing company. Gett, the app...
 Sumner Redstone Confirms New Members for Family Trust
The New York Times, May 25, 2016 Wednesday

 Sumner M. Redstone confirmed on Tuesday the appointment of two new members to his irrevocable trust, which will control the future of his companies, as well as new directors to National Amusements, the private theater chain company through which he controls his $40 billion media empire.
 Wall Street Up Sharply on Tech and Bank Gains
The New York Times, May 25, 2016 Wednesday

 On Tuesday, stocks made their biggest gains since March as technology companies like Apple and Microsoft soared. Homebuilders also climbed after the government said sales of new homes reached an eight-year high last month. That was a sign the housing market and the broader economy are still in good shape.   Stocks opened higher after hefty gains in Europe. Technology stocks made their biggest gain in almost three months, erasing their losses from earlier this year. Banks rose as interest rates...
 Monsanto Refuses Bayer's $62 Billion Bid, but Proposes More Talks
The New York Times, May 25, 2016 Wednesday

 Monsanto rejected Bayer's $62 billion takeover offer on Tuesday, calling the takeover approach by the German giant too low.
 Old Mutual Says Buyers Are Interested in Asset Management Arm
The New York Times, May 25, 2016 Wednesday

 LONDON -- The London-based financial services firm Old Mutual said on Tuesday that it was approached by several potential buyers interested in its controlling stake in OM Asset Management.
 Young Spinoff From Hewlett Is Preparing to Split Again
The New York Times, May 25, 2016 Wednesday

 SAN FRANCISCO -- Months after Hewlett-Packard split itself into two publicly traded companies, one of those new smaller businesses plans to become even smaller. Hewlett Packard Enterprise will sell its enterprise services business, whose offerings include call centers and network maintenance, to the Computer Sciences Corporation in an all-stock deal, the companies announced on Tuesday.
 MARKET ROUNDUP; Stocks rally as tech firms and home builders climb
Los Angeles Times, May 25, 2016 Wednesday

 U.S. stocks made their biggest gain since March on Tuesday as technology companies erased their losses from earlier this year. Home builders also climbed after the government said sales of new homes reached an eight-year high last month. That was a sign that the housing market and the broader economy are still in pretty good shape. The Dow Jones industrial average rose 213.12 points, or 1.2%, to 17,706.05. The Standard & Poor's 500 index picked up 28.02 points, or 1.4%, to 2,076.06. The Nasdaq...
 Toyota investing in Uber; Volkswagen partners with Gett; The two automakers are the latest to team up with on-demand ride services.
Los Angeles Times, May 25, 2016 Wednesday

 Toyota Motor Corp. on Tuesday announced a partnership with Uber Technologies in which the Japanese automaker will invest an undisclosed sum in the ride-hailing company and establish a car-leasing option for Uber drivers.
 COMPANY TOWN; Billionaire aims barbs at Disney
Los Angeles Times, May 25, 2016 Wednesday

 If Walt Disney Co. executives thought they were going to open a theme park in mainland China without major opposition, they were wrong. Only weeks before the launch of the $5.5-billion Shanghai Disney Resort, a Chinese rival has vowed to outperform Disney with local theme parks that offer lower prices and more innovative rides and characters. "I'm holding that we can win out," said Wang Jianlin, chairman of the Dalian Wanda Group, a Chinese conglomerate that specializes in hotels, malls and...
 Scion wields greater power in fight; Shari Redstone emerges as a pivotal figure in the battle for Viacom and CBS.
Los Angeles Times, May 25, 2016 Wednesday

 Shari Redstone has long been on the sidelines of her father's $40-billion media empire. But in the last month she has emerged as a central figure in the battle over the future of Viacom Inc. and CBS Corp. The 62-year-old vice chair of the two media companies was widely suspected as the force behind Sumner Redstone's unexpected decision last week to oust his longtime lieutenant, Viacom Chief Executive Philippe Dauman, from the trust that will eventually determine the future of CBS and Viacom.
 Bayer offers $62B for Monsanto
Sun-Sentinel (Fort Lauderdale), May 24, 2016 Tuesday

 Bayer offers $62B for Monsanto  Germany-based drug and chemicals company Bayer AG said Monday that it has made a $62 billion offer to buy U.S.-based crops and seeds specialist Monsanto.
 Choppy Day of Trading Alters Little for Markets
The New York Times, May 24, 2016 Tuesday

 Stocks ended a quiet day slightly lower on Monday as investors sat on the sidelines waiting for more clues about whether the Federal Reserve might raise interest rates next month.
    

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