TOP STORIES
FED'S YELLEN SEES STRONGER CASE FOR INTEREST-RATE RISE
Federal Reserve Chairwoman Janet Yellen signaled growing
conviction that the central bank will raise short-term interest
rates in the weeks or months ahead.
PRICEWATERHOUSECOOPERS SETTLES CRISIS ERA LAWSUIT
Accounting giant PricewaterhouseCoopers LLP has settled a $5.5
billion lawsuit in the middle of a trial over its alleged failure
to catch the massive fraud at Taylor Bean & Whitaker Mortgage
Corp., according to a lawyer involved in the case.
STOCKS SLIP AFTER YELLEN'S REMARKS
U.S. stocks turned lower Friday after Federal Reserve Chairwoman
Janet Yellen said in prepared remarks that the case for an increase
in short-term interest rates has strengthened in recent months.
U.S. CORPORATE PROFITS CLIMBED AS GDP TICKS DOWN TO 1.1%
A key measure of corporate profits rose this spring for a second
straight quarter alongside modest growth in the overall economy,
though U.S. businesses remain under pressure from global weakness
and other forces.
U.S. CONSUMER SENTIMENT EASES SLIGHTLY IN AUGUST
A gauge of consumer sentiment edged lower in August, a
potentially worrying sign for an economy heavily reliant on
personal spending for growth.
CARL ICAHN MULLED SELLING HERBALIFE STAKE TO ACKMAN
Carl Icahn recently discussed selling his stake in Herbalife to
a group including the company's arch-nemesis William Ackman,
another surprising twist in a battle between billionaires that has
riveted Wall Street.
WEB FIRMS MAY HAVE TO PAY PUBLISHERS FOR NEWS UNDER NEW EU RULES
News aggregators like Google news search may have to pay
publishers to list news articles on their websites under European
Union plans to update copyright rules.
RACKSPACE TO GO PRIVATE IN $4.3 BILLION DEAL
Cloud-computing provider Rackspace Hosting is being taken
private by private-equity firm Apollo Global Management for $4.3
billion.
THERANOS TO APPEAL REGULATORY SANCTIONS
Silicon Valley startup Theranos said it plans to appeal a
decision made last month by regulators to revoke its license to
operate a lab in California, among other penalties, because of
unsafe practices.
ALERE SUES ABBOTT TO FORCE MERGER
Alere Inc. escalated its fight with reluctant buyer Abbott
Laboratories by filing a lawsuit against its potential acquirer to
push it to move forward with the deal.
TESLA RAISES PRICE OF AUTOPILOT OPTION BY $500
Tesla raised the price of its semi-autonomous Autopilot option
by $500, the latest move by the Silicon Valley auto maker to adjust
prices and options on its electric vehicles.
AB INBEV WARNS OF THOUSANDS OF MERGER-RELATED JOB LOSSES
Belgium's Anheuser-Busch InBev warned its beer megamerger with
SABMiller could lead to thousands of job losses in coming years,
according to documents related to the transaction.
BIG LOTS POSTS REVENUE DECLINE BUT RAISES FORECAST
Big Lots Inc. on Friday reported soft comparable-store sales and
a revenue decline but raised its profit forecast for the year.
PROCTER & GAMBLE CEO TAYLOR COMPENSATION SOARS TO $14 MILLION
The value of Procter & Gamble Co. Chief Executive David
Taylor's total pay more than doubled in the latest year, bolstered
by stock awards and bonuses as profit at the consumer-products
giant has climbed despite falling sales.
STX OFFSHORE & SHIPBUILDING AIMS TO STAY AFLOAT
Troubled Korean shipbuilder STX Offshore & Shipbuilding said
it will lay off about a third of its workforce and sell a yard in
France as part of wide ranging restructuring plan to stay above
water.
PRADA SALES, PROFIT FALL IN FIRST HALF
The chairman of the Hong Kong-listed fashion house said the
company was now aiming to double its online sales, an area it had
largely ignored, for each of the next three years.
JAGUAR LAND ROVER DRAGS ON PROFIT AT TATA MOTORS
Indian auto maker Tata Motors said net profit dropped in the
latest quarter because of weaker earnings at its Jaguar Land Rover
unit.
AFTERSHOCK COMPLICATES RESCUE EFFORT
A strong aftershock on Friday hampered the search for survivors
and bodies after a devastating earthquake that left at least 267
people dead, as the mayor of the hardest-hit town pledged to
rebuild from the rubble.
ECB DATA SHOW SPURT IN EUROZONE LENDING
Lending to firms increased on the year at a faster pace in July
than in June, data from the European Central Bank show, offering
more evidence that the economy was resilient post Brexit and
potentially weakening the need for the ECB to pump more money into
the economy at its next meeting.
U.K. GDP BOOSTED BY HOUSEHOLD SPENDING AHEAD OF BREXIT VOTE
Strong growth in household spending helped boost the British
economy in the run up to the U.K.'s referendum on continued
European Union membership, while business investment fell slightly
year-over-year.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Central Banks
TIMING OF FED INTEREST RATE INCREASE STILL IN QUESTION
Federal Reserve officials signaled clearly they see an interest
rate rise in the economy's future. What they didn't have much to
say about was when it might happen.
U.S. News
FDA CALLS FOR ZIKA TESTING OF ALL BLOOD DONATIONS
The Food and Drug Administration is calling for Zika testing of
all donated blood and blood products nationwide as a preventive
measure to help stem the spread of the virus.
(END) Dow Jones Newswires
August 26, 2016 12:56 ET (16:56 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.