TOP STORIES
FED'S BULLARD: NOT READY TO COMMIT ON JUNE FOMC DECISION
Federal Reserve Bank of St. Louis President James Bullard said
the jury is still out on whether he will support a June
interest-rate increase.
OIL JUMPS AS FIRES RAGE IN CANADA
Oil prices rallied Thursday as Canadian wildfires and a threat
to block exports from Libya have traders betting on tightening
supply.
GM, LYFT TO TEST SELF-DRIVING ELECTRIC TAXIS
GM and Lyft will begin testing self-driving Chevrolet Bolt
electric taxis on public roads within a year, as the companies seek
to fight off Silicon Valley giants amid a reshaping auto
industry.
U.S. STOCKS RISE, DRIVEN BY GAINS IN ENERGY SHARES
U.S. stocks rose Thursday as energy shares rallied on stronger
oil prices.
U.S. JOBLESS CLAIMS RISE BY 17,000
The number of Americans filing for new unemployment benefits
jumped for the second week running but remained at a low level
consistent with a strengthening job market.
TURKISH PRESIDENT TIGHTENS GRIP AS WESTERN ALLY EXITS
Turkish Prime Minister Ahmet Davutoglu said he will step aside
after 20 months in office, a move that solidifies President Recep
Tayyip Erdogan's unrivaled position as the country's most powerful
leader.
SANOFI: WILL TRY TO OUST MEDIVATION BOARD UNLESS DEAL TALKS START
Sanofi sent a letter to Medivation saying it would try to remove
and replace members of the U.S. biotech firm's board if it didn't
engage in takeover talks.
APOLLO GLOBAL SWINGS TO LOSS, MISSES EXPECTATIONS
Apollo Global Management swung to a first-quarter loss as public
holdings in its private equity business weighed on results.
FDA TO REGULATE E-CIGARETTES, BAN SALES TO MINORS
The U.S. government said it was assuming regulatory authority
over e-cigarettes and all other tobacco products with rules that
will prohibit sales to anyone under 18 and require manufacturers to
submit products for approval.
ALIBABA SEEKS PATIENCE FROM INVESTORS ON NEWER INITIATIVES
Alibaba urged investors to have patience with newer initiatives
after the company posted lower-than-expected profit growth in its
fiscal fourth quarter, despite a 39% jump in revenue.
JAPAN'S ABE SIGNALS WILLINGNESS TO RESPOND TO YEN FLUCTUATIONS
Japanese Prime Minister Shinzo Abe said drastic fluctuations in
the yen's exchange rate weren't desirable and Japan would react and
respond to the situation as necessary.
FANNIE MAE TO PAY $919 MILLION DIVIDEND TO U.S. AS PROFIT FALLS
Fannie Mae said it would send a $919 million dividend payment to
the U.S. Treasury in June, while reporting its profit that fell in
latest quarter amid low interest rates.
KELLOGG PROFIT FELL 33%
Kellogg Co. said its first-quarter earnings fell 33% in the
latest quarter as lower revenue, dented by currency translations,
and higher interest expense hurt the company's bottom line.
MERCK REVENUE FALLS ON GENERIC COMPETITION
Merck posted a revenue decline as generic competition and
currency fluctuations hurt its results.
DISCOVERY COMMUNICATIONS RAISES EARNINGS GUIDANCE
Discovery Communications raised its earnings guidance for the
year, in the wake of announcing buyouts and other cost cuts that
would save potentially more than $120 million annually.
CABLEVISION REPORTS HIGHER PROFIT, REVENUE
Cablevision Systems said profit more than doubled in the latest
quarter, helped by a large gain on investment income, though the
firm continued to lose TV subscribers.
CANADA SUPREME COURT REBUFFS APPEAL FROM NORTEL BONDHOLDERS
Another Canadian court has shut the door in the face of
bondholders unhappy with their treatment in the long-running
bankruptcy of Nortel Networks Corp.
AMAZON, ATLAS AIR PARTNER FOR CARGO SERVICES
Atlas Air Worldwide Holdings said Thursday it would provide air
cargo services to Amazon.com, further building out the online
retailer's delivery network.
CHESAPEAKE ENERGY LOSS NARROWS
Chesapeake Energy said its first-quarter loss narrowed amid a
smaller asset write-down, and the embattled energy company agreed
to sell some acreage in the Anadarko Basin Stack play to Newfield
Exploration for $470 million.
FORD INVESTS IN PIVOTAL SOFTWARE TO BEEF UP ITS TECH 'FLUENCY'
Ford Motor is investing $182 million in Pivotal Software, a San
Francisco-based cloud software-development tools and services
company whose products the auto maker employed in its Ford Pass
services.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Financial Regulation
PROPOSED RULE WOULD ALLOW CONSUMERS TO SUE BANKS
A proposed new rule from the Consumer Financial Protection
Bureau aims to restrict the use of mandatory-arbitration clauses
covering financial products ranging from credit cards to bank
accounts to private student loans.
WSJ Logistics Report
WEST COAST PORTS LOSE GROUND ON IMPORTS
Ports from California to Washington handled the lowest share of
container imports since last year's extreme congestion
(END) Dow Jones Newswires
May 05, 2016 12:57 ET (16:57 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.