TOP STORIES 
 
U.S. SECOND QUARTER GDP REVISED UP TO 1.4% GAIN 

The U.S. economy grew at a modestly faster pace in the second quarter than previously estimated, but the latest data confirms the expansion decelerated in the first half of the year.

U.S. STOCKS LITTLE CHANGED AS OIL WAVERS 

U.S. stocks were little changed as oil prices wavered following the announcement of a prospective deal between major oil-producing nations to cut production levels.

REDSTONE FIRM URGES VIACOM, CBS TO EXPLORE MERGER 

National Amusements, Sumner Redstone's family holding company, publicly called for the boards of Viacom Inc. and CBS Corp. to explore a merger.

MCDONALD'S RAISES QUARTERLY DIVIDEND 6% 

McDonald's Corp. said it raised its quarterly dividend 6%, flipping more cash to shareholders as the fast-food giant continues to benefit from its turnaround plan.

PEPSICO BOOSTS EARNINGS FORECAST 

PepsiCo raised its earnings forecast for the year as the snack-and-beverage giant reported a surprise increase in core profit, boosted by lower raw-material costs, despite sliding revenue.

COMMERZBANK TO SLASH JOBS, SCRAP DIVIDEND IN BROAD REVAMP 

Commerzbank said it plans a wide-ranging overhaul that includes laying off close to 10,000 jobs, or roughly 20% of its workforce, merging two large units and scrapping its dividend.

OIL PRICES FALL ON OPEC DEAL SKEPTICISM 

Oil prices fell as investors questioned whether a proposal for production cuts from the Organization of the Petroleum Exporting Countries would have much impact on a market that the cartel has lost some of its once tight grip over.

EUROZONE FIRMS, CONSUMERS PROVE MORE UPBEAT IN SEPTEMBER 

Eurozone manufacturers shrugged off concerns about the impact of the U.K.'s decision to leave the European Union, reporting a pickup in export orders that helped boost confidence in September to its highest level this year.

GREEN DOT TO BEGIN OFFERING SECURED CREDIT CARDS 

Green Dot Corp., one of the nation's largest providers of prepaid debit cards, is moving into the credit-card business.

FORMER BLACKROCK MANAGER CHARGED WITH INSIDER TRADING 

Former BlackRock fund manager Mark Lyttleton was charged with three counts of insider trading. The Financial Conduct Authority said the charges relate to trades in shares and a call option.

THREE SENATORS ASK SEC TO INVESTIGATE WELLS FARGO 

Democratic Sens. Jeff Merkley, Elizabeth Warren and Robert Menendez wrote a letter to the Securities and Exchange Commission asking for a probe into the bank's actions related to its sales practices.

U.S. JOBLESS CLAIMS RISE 

The number of Americans applying for first-time unemployment benefits rose last week but remained at a low level consistent with a generally healthy labor market.

FED'S LOCKHART SEES RATE INCREASE 'BEFORE LONG' 

Federal Reserve Bank of Atlanta President Dennis Lockhart said he expected the Fed will be in a position to raise interest rates soon.

GE DIDN'T RENEW CONTRACTS LINKED TO POWER FIRM AT CENTER OF U.S. PROBE OF STANDARD CHARTERED 

General Electric declined to renew contracts with a subsidiary of a power company in Indonesia controlled by Standard Chartered, which is being investigated by U.S. authorities over bribery allegations at the Southeast Asian firm.

CONAGRA REVENUE SLIPS AS SPINOFF REMAINS ON TARGET 

ConAgra Foods reported revenue declines across its units as it works to spin off its frozen potato business and focus on higher-quality, higher-priced products.

ACCENTURE PROFIT CLIMBS 45% 

Accenture PLC reported profit shot up 45% in the most recent quarter as revenue continues to grow across the consultancy's segments.

SAFRAN IN TALKS WITH ADVENT FOR SALE OF $2.7 BILLION UNIT 

French aerospace and defense supplier Safran said it has begun exclusive talks to sell its identity and security business in a transaction that values the operation at $2.7 billion.

FED'S HARKER BACKS DECEMBER RATE RISE IF GROWTH STAYS ON TRACK 

Patrick Harker, president of the Federal Reserve Bank of Philadelphia, said he favors raising short-term interest rates in December if the U.S. economy continues to grow as expected.

APPLE'S CHINA RESEARCH CENTER TO DEVELOP HARDWARE, LANDLORD SAYS 

Apple's first research center in China will be a $45 million facility located in the capital to develop hardware, the site's landlord said, announcing some of the first details of the project.

SAMSUNG IN TALKS WITH U.S. SAFETY REGULATORS OVER WASHING MACHINES 

While Samsung Electronics Co. grapples with a recall of its Galaxy Note 7 smartphones, it is now dealing with complaints about another product: its washing machines.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Oil Markets 
WHY MARKETS ARE SKEPTICAL OF OPEC'S PROSPECTIVE DEAL 
 

Oil prices surged after OPEC said its members proposed to curb output. Here are five reasons to be skeptical about a lasting rally in crude-oil prices.

 
Autos 
CAR MAKERS REV UP PUSH INTO ELECTRIC VEHICLES 
 

At the Paris Auto Show, which begins this week, the world's biggest auto makers are unveiling plans to accelerate development of electric vehicles.

(END) Dow Jones Newswires

September 29, 2016 10:14 ET (14:14 GMT)

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