TOP STORIES 
 
U.S. STOCKS MOSTLY LOWER 

U.S. stocks traded mostly lower Tuesday, with major indexes still on track to end the month higher despite mounting expectations for a U.S. interest rate increase.

GREAT PLAINS ENERGY BUYS WESTAR IN MIDWEST UTILITIES CONSOLIDATION 

Missouri-based Great Plains Energy said it agreed to buy Kansas's Westar Energy for roughly $8.6 billion in a move the utilities hope will lead to more controlled costs and consumer rates.

U.S. CONSUMER CONFIDENCE DECLINED, CLOUDING OUTLOOK 

Gauges of U.S. consumer confidence are sending mixed signals, fostering uncertainty about whether the recent pickup in consumer spending will be sustained into the summer months.

ICAHN TAKES STAKE IN ALLERGAN 

Activist investor Carl Icahn said he has taken a "large position" in Allergan and threw his support behind the pharmaceutical company's CEO, Brent Saunders.

HOUSING MARKET PICKS UP MOMENTUM AS PRICES ADVANCE 

Home prices rose strongly in March, the latest sign the housing market has momentum heading into the critical spring selling season.

U.S. CONSUMER SPENDING CLIMBED AT FASTEST PACE IN NEARLY SEVEN YEARS 

Consumer spending advanced at the fastest pace in nearly seven years in April-jumping 1.0%- in the latest sign the economy is improving after a sluggish start to the year.

JUDGE FINDS MICHAEL DELL, SILVER LAKE UNDERPAID FOR DELL IN 2013 

Michael Dell and Silver Lake underpaid by more than 20% when they took Dell Inc. private three years ago for $24.4 billion, a Delaware judge ruled.

VIVENDI WINS MAJORITY BACKING IN HOSTILE BID FOR GAMELOFT 

Preliminary results of Vivendi SA's share offer indicate it has prevailed in its efforts to gain control of Gameloft SE, pushing further into video games after re-entering the sector last year.

ANBANG WITHDRAWS APPLICATION FOR N.Y. APPROVAL OF INSURANCE DEAL 

Anbang Insurance Group's $1.57 billion acquisition of Fidelity & Guaranty Life has run up against regulators' demands for detailed financial information about its ownership structure.

BARCLAYS BANKER CHARGED WITH PASSING INSIDE INFORMATION TO PLUMBER 

A former Barclays PLC director was arrested in New York and accused of engaging in an insider-trading scheme with his plumber.

GOLDMAN LOANS $75 MILLION TO IPO HOPEFUL NUTANIX 

Goldman Sachs Group has found a smart way to make a buck while initial public offerings of tech companies are at a standstill.

DALLAS FED INDEX FALLS FURTHER INTO NEGATIVE TERRITORY 

Factory production across Texas fell in May to the lowest level in a year, as the Federal Reserve Bank of Dallas said its index of general business conditions dropped to -20.8 from -13.9 in April.

AB INBEV-SABMILLER DEAL CLEARS A SOUTH AFRICA HURDLE 

Anheuser-Busch InBev cleared a hurdle in South Africa, gaining approval for its SABMiller acquisition from South Africa's Competition Commission.

OFFICE DEPOT LAYS OUT $100 MILLION STOCK-BUYBACK PLAN 

Office Depot Inc. on Tuesday rolled out a $100 million stock buyback program as the No. 2 U.S. office supplier regroups less than a month after a federal judge blocked its planned tie-up with Staples Inc.

CLIFFS NATURAL IN DEAL TO SUPPLY ARCELORMITTAL 

Cliffs Natural Resources, which has been hurt by weak demand from steelmakers, said it reached a 10-year agreement to supply steel giant ArcelorMittal with iron-ore pellets.

PETROBRAS BOARD NAMES PEDRO PARENTE AS NEW CEO 

The board of Brazil's state run oil firm PetrĂ³ leo Brasileiro SA, or Petrobras, named Pedro Parente as the company's new CEO.

CANADA'S FIRST-QUARTER GROWTH FALLS SHORT OF EXPECTATIONS 

The Canadian economy grew in the first quarter on the strength of exports and consumer spending, but the increase fell short of expectations and sets the stage for a weak second quarter as the country continues to adjust to lower commodity prices.

FDA REJECTS TEVA'S APPLICATION FOR HUNTINGTON'S DRUG 

The Food and Drug Administration rejected a drug application from Teva Pharmaceutical Industries Ltd., asking for more information on the effects of the drug that treats some symptoms of Huntington's disease.

MYSPACE BREACHED BY HACKERS 

Social-networking site Myspace experienced a breach of its systems before the Memorial Day weekend that led to stolen user login data being made available online.

OIL PRICE FORECASTS GET MORE BULLISH 

Production outages have taken oil off the market, which along with greater optimism about China's economy, have led to a recovery in crude prices, breaching the $50-a-barrel level last week for the first time since November.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Markets Main 
PENSION FUNDS PILE ON RISK JUST TO GET A REASONABLE RETURN 
 

An investor used to get a 7.5% return by simply holding safe bonds. To get that now, research finds, takes a more volatile mix of stocks, real estate and private equity.

 
U.S. Economy 
STATES, CITIES CLASH ON PAY AND BENEFIT RULES 
 

Cities and counties are clashing with state legislators over attempts to bolster workers' wages and benefits, the latest flashpoint in a national dispute over how to address inequality between the highest- and lowest-earning Americans.

 
 
 

(END) Dow Jones Newswires

May 31, 2016 13:57 ET (17:57 GMT)

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