TOP STORIES 
 
CIVIL ANTITRUST SUITS REINSTATED AGAINST BANKS IN LIBOR CASE 

In a setback for some the world's largest financial institutions, a U.S. appeals court reinstated private antitrust lawsuits filed against 16 banks for allegedly rigging Libor interest rates.

GERMANY'S BAYER OFFERS $62 BILLION IN CASH FOR MONSANTO 

German pharmaceutical and chemicals giant Bayer said it made an all-cash offer to acquire Monsanto for $62 billion, valuing the U.S. company at a substantial premium in a deal that would create the world's largest agrochemicals company.

U.S. STOCKS EDGE HIGHER 

U.S. stocks edged higher in afternoon trading Monday as investors waited for further clues on the timing of U.S. interest rate rises.

BANK OF AMERICA PENALTY THROWN OUT IN 'HUSTLE' CASE 

A federal appeals court reversed a lower court order that Bank of America pay a $1.27 billion penalty in connection with mortgages sold by its Countrywide unit. It was blow to the government, which had won the high-profile financial crisis case at trial.

VIACOM CEO FILES SUIT TO BLOCK CHANGES TO REDSTONE TRUST 

Viacom CEO Philippe Dauman and a board member have filed a lawsuit challenging their dismissals from the trust overseeing Sumner Redstone's $40 billion media empire.

TRIBUNE REJECTS GANNETT'S NEW OFFER 

Tribune rejected a sweetened takeover offer from Gannett, insisting its turnaround plan is better. It also said a billionaire entrepreneur would take a $70 million stake.

FED'S WILLIAMS SEES RATE RISES, BUT DOESN'T TIP HAND ON JUNE MEETING 

Federal Reserve Bank of San Francisco President John Williams still expects the U.S. central bank will raise short-term interest rates two to three times this year.

SPOTIFY REVENUE RISES IN 2015, BUT LOSSES GROW 

Spotify AB nearly doubled its revenue in 2015, but losses grew amid continued investment in international expansion.

FINRA CHIEF CALLS OUT CONFLICTS POSED BY BONUS-PAY SYSTEM 

Some brokerage firms aren't adequately supervising how bonuses and other incentives may skew the investment advice given by their employees, a top U.S. securities regulator said Monday.

NEW U.S. TAX RULES SCUTTLE CF-OCI FERTILIZER MERGER 

CF Industries and OCI called off their planned $8 billion fertilizer merger, the latest multibillion-dollar transaction to fall foul of changes to U.S. tax rules designed to restrict so-called inversion deals.

ENERGY FUTURE CONTEMPLATES POSSIBLE  COMPETING CHAPTER 11 PLAN 

Energy Future Holdings Corp. is bracing to fend off a possible rival chapter 11 plan from an unnamed suitor for its Oncor electricity-transmissions business, a lawyer for the company, Marc Kieselstein, told a bankruptcy judge Monday.

AMERICAN CAPITAL SELLING OPERATIONS FOR $4 BILLION 

Business-development company American Capital Ltd. unveiled plans to break itself up, selling its operations in two deals worth a combined $4 billion.

SUPREME COURT UPHOLDS NEW CONGRESSIONAL MAP FOR VIRGINIA 

The Supreme Court unanimously dismissed an appeal by three Republican congressmen seeking to invalidate a Virginia voting map that they claimed harmed their chance for re-election.

CEO OF FUTURES REGULATOR TO RETIRE 

Dan Roth, the longtime head of the futures industry's front-line regulator the National Futures Association, is preparing to retire.

UNICREDIT CEO DISMISSES QUESTIONS ABOUT HIS FUTURE 

UniCredit Chief Executive Federico Ghizzoni, facing pressure from board members and shareholders over his leadership performance, brushed aside questions about his future.

GE TO INVEST $1.4 BILLION IN SAUDI ARABIA 

GE announced a raft of investments worth at least $1.4 billion in Saudi Arabia as the Persian Gulf kingdom seeks to reduce its oil dependence.

IMF ASSESSMENT OF GREEK DEBT SETS STAGE FOR BAILOUT TALKS 

The IMF said Greece's European creditors must give the country "upfront unconditional" debt relief to win additional financing from the emergency lender.

IMF INCREASES 2016 AND 2017 GROWTH FORECASTS FOR ITALY 

The International Monetary Fund raised slightly its 2016 and 2017 growth forecasts for Italy, but urged Rome to push ahead with reforms to address its very low productivity and boost its meager growth rates.

SHANDA GROUP ACCUMULATES 11.7% LENDINGCLUB STAKE 

Private investment firm Shanda Group amassed an 11.7% stake in LendingClub through a series of large trades, some of which took place before the resignation of the online lender's CEO.

HARVARD ENDOWMENT CHIEF TAKES MEDICAL LEAVE 

The head of Harvard University's $37.6 billion endowment is taking a temporary medical leave of absence.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Capital Journal 
HILLARY CLINTON'S COMPLICATED PATH TO THE CENTER 
 

Hillary Clinton faces a dilemma in broadening her appeal to the general-election crowd. There is a natural opening for her in the ideological center but she has been pushed to the left by Bernie Sanders, writes Gerald F. Seib.

 
Central Banks 
A RARE LOOK INSIDE CHINA'S CENTRAL BANK SHOWS SLACKENING RESOLVE TO REVAMP YUAN 
 

Minutes of closed-door meetings show how leaders lost interest in making the yuan's value more market-based, ditching changes announced in August.

 
 
 

(END) Dow Jones Newswires

May 23, 2016 14:34 ET (18:34 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.