TOP STORIES
U.S. STOCKS EDGE LOWER
Stocks cooled Friday, but remained on track to end the week
higher amid signs that global central banks were sticking with
loose monetary policy.
FACEBOOK APOLOGIZES FOR VIDEO METRIC MISCALCULATION
Facebook on Friday apologized for overestimating a key video
metric for two years, a miscalculation that irked advertisers and
media companies that have poured resources into video efforts on
the social network.
SALESFORCE CONSIDERS TAKEOVER OF TWITTER
Salesforce is considering a takeover of Twitter Inc., according
to people familiar with the matter, as the social-media company's
efforts to ignite growth sputter.
BOFA MOVES TO SMOOTH IMPACT OF RATE SWINGS
Bank of America's earnings likely will be less volatile from
quarter to quarter as the result of a change related to how the
bank accounts for some of the mortgage-backed securities it
owns.
SANTANDER CONSUMER USA TO RESTATE FINANCIAL REPORTS
Santander Consumer USA Holdings Inc. said it would restate years
of financial reports as they can no longer be relied upon because
of material weaknesses in internal control.
INVESTOR CALLS FOR PAY CLAWBACK AT WELLS FARGO
CtW Investment Group sent a letter to Wells Fargo's board Friday
calling for executive pay to be clawed back, two new board
directors and an independent review following the bank's sales
tactics scandal.
SAUDI ARABIA, IRAN DISAGREE IN OIL OUTPUT DISCUSSIONS IN VIENNA
Saudi Arabian and Iranian oil officials have clashed this week
over production limits, people familiar with the matter said, as
OPEC struggles to iron out differences ahead of a meeting next week
in Algeria where output controls will be discussed.
PETROBRAS TO SELL 90% OF GAS PIPELINE UNIT TO BROOKFIELD-LED CONSORTIUM
Petrobras agreed to sell a 90% stake of its natural-gas pipeline
unit to a consortium led by Brookfield Asset Management for about
$5.2 billion, as it works to pay down debt amid low energy prices
and a Brazilian recession.
COMPLAINTS ARISE OVER REPLACEMENT BATTERIES FOR SAMSUNG GALAXY NOTE 7
Some customers in South Korea have complained that replacement
batteries for Samsung Electronics' Galaxy Note 7 have been
overheating and quickly losing battery power.
FED'S ROSENGREN: NOT RAISING RATES NOW PUTS ECONOMIC RECOVERY AT RISK
Boston Fed President Eric Rosengren said that holding off on
raising interest rates could put the economic expansion at risk by
generating "significant imbalances" that could lead to a
recession.
SONY PICTURES AND DALIAN WANDA TO MARKET FILMS IN CHINA
Sony Pictures Entertainment is teaming up with Dalian Wanda
Group to help market its films in China, a deal that could boost
Sony's box-office returns-and strengthen Wanda's hand in the movie
business.
USG NAMES JENNIFER SCANLON CEO-ELECT
USG Corp. on Thursday said company veteran Jennifer Scanlon will
replace James Metcalf as chief executive this fall.
U.N. SECURITY COUNCIL APPROVES NUCLEAR TEST BAN RESOLUTION
The United Nations Security Council on Friday adopted a
resolution calling on countries to refrain from nuclear testing,
weeks after North Korea defied the international community by
carrying out a new nuclear test.
ROGUE TRADER TOLD TO PAY €1 MILLION IN DAMAGES TO SOCGEN
A French appeals court ruled that former trader Jé rô me Kerviel
is only responsible for a sliver of the $5.47 billion Socié té Gé
né rale lost after unwinding his trades, raising the possibility
the government might reclaim a hefty tax rebate it granted the bank
at the time.
COMMERZBANK EYES CUTTING AT LEAST 5,000 JOBS
Commerzbank's management is eyeing cutting at least 5,000 jobs,
or more than 10% of the bank's workforce, and eliminating one of
its units as part of a broader overhaul.
21ST CENTURY FOX BOOSTS PAY OF RUPERT MURDOCH, SONS
21st Century Fox increased the pay of Executive Chairman Rupert
Murdoch and his sons, Chief Executive James Murdoch and Executive
Chairman Lachlan Murdoch, citing their "exemplary achievements" and
their "contributions to drive the overall success of the
business."
JAPAN'S DENTSU APOLOGIZES FOR AD OVERCHARGES
Advertising giant Dentsu said it overcharged at least 111
companies for internet ads, a rare slip for a company that has
broad reach in Japanese media but usually avoids making headlines
itself.
FINISH LINE COMPARABLE STORE SALES RISE
Finish Line said its comparable-store sales increased in the
latest quarter and said it would change the role of its former
chief executive more quickly than expected.
METRO AG BREAKUP PLAN FACES OPPOSITION
Metro AG, one of Europe's largest retailers, wants to break
itself up to boost shareholder value, but the co-owner of a major
subsidiary doesn't like the deal and warns that it would ultimately
destroy value.
ANGLO AMERICAN APPOINTS FORTESCUE'S STEPHEN PEARCE AS CFO
Anglo American PLC has appointed Stephen Pearce as Chief
financial officer and executive board member after René Mé dori
announced in April his decision to retire next year.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Financial Regulation
FED PROPOSES LIMITS ON BANK COMMODITY TRADING
The Federal Reserve proposed Friday new restrictions on banks'
activities in physical-commodity markets such as aluminum and oil,
aiming to minimize risks an environmental catastrophe could pose on
the financial institution.
Technology
WILL YAHOO'S DATA BREACH DERAIL VERIZON DEAL?
The deal contains a provision allowing Verizon to pull out if a
"material adverse change" affects the internet company's
business.
(END) Dow Jones Newswires
September 23, 2016 13:14 ET (17:14 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.