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