TOP STORIES
AB INBEV WINS OVER SABMILLER, VALUING IT AT $104.2 BILLION
After weeks of back and forth, SABMiller's board has agreed on
key terms of a sweetened takeover proposal by Anheuser-Busch InBev,
setting the stage for the creation of a brewing behemoth.
GE TO SELL COMMERCIAL LENDING, LEASING UNITS TO WELLS FARGO
GE agreed to sell a major chunk of its U.S. commercial lending
business to Wells Fargo, a milestone in the company's rapid exit
from financial services that could allow it to shed a tough
regulatory regime.
U.S. STOCKS WAVER AHEAD OF KEY EARNINGS REPORTS
U.S. stocks bounced between slight gains and losses as investors
looked ahead to major earnings reports this week.
SEC PREPARES CIVIL CHARGES AGAINST MONDELEZ IN CADBURY PROBE
The SEC is readying civil charges against snack maker Mondelez
for alleged accounting violations under the Foreign Corrupt
Practices Act, in connection with a long-running probe of payments
its Cadbury unit made in India.
TWITTER TO CUT UP TO 8% OF WORKFORCE
Twitter will slash up to 336 jobs, or 8% of its global
workforce, marking the first mass layoff in the company's nine-year
history as it tries to refocus its priorities under its new chief
executive.
BAIN CAPITAL, ADVENT INTERNATIONAL GET WINDFALL FROM WORLDPAY
Advent International Corp. and Bain Capital LLC have earned a
combined profit of about $4.9 billion from their investment in
Worldpay Group PLC, the U.K. payments processor which started
trading on the London Stock Exchange on Tuesday.
FORTRESS CONFIRMS PLAN TO CLOSE FLAGSHIP MACRO HEDGE FUND
Fortress Investment confirmed it will close its flagship macro
hedge fund and principal Michael Novogratz will retire after the
fund suffered heavy losses and redemptions.
CHINA GROWTH IN FOCUS AS EXPORTS AND IMPORTS FALL
China's exports and imports fell in September and some
economists say the data offered a further indication that
third-quarter growth figures will fall below Beijing's full-year
target.
FOREX HEADWINDS HIT JNJ PROFIT
Johnson & Johnson reported lower sales and profit in its
latest quarter largely due to a stronger dollar that the company
expects will keep squeezing its results.
RIO BOSS SAM WALSH SAYS NO INTEREST IN BIDDING FOR GLENCORE
Rio Tinto CEO Sam Walsh isn't interested in making a bid for
Glencore despite the sharp decline in the embattled Swiss miner's
stock in the past few months.
IEA SEES OIL MARKET REMAINING OVERSUPPLIED NEXT YEAR
The world's oil markets will likely remain oversupplied next
year, as demand growth slows amid an expected return of Iranian
oil, a top energy forecaster said.
UBS IN $19.5 MILLION SETTLEMENT OVER STRUCTURED NOTES
UBS agreed to pay $19.5 million to settle charges from the U.S.
Securities and Exchange Commission that it provided false or
misleading information in materials related to structured debt
securities.
N.Y. FED FINDS ANOTHER DROP IN CONSUMER INFLATION EXPECTATIONS
Consumers' expectations of future inflation levels continue to
drift downward, according to new data from the Federal Reserve Bank
of New York released on Tuesday.
FINRA FINES SANTANDER OVER PUERTO RICO BOND SALES
Finra ordered a unit of Spanish bank Banco Santander to pay
roughly $6.4 million in restitution to investors who were solicited
to buy Puerto Rican municipal securities.
EU DIGITAL CHIEF SIGNALS TOUGH STANCE ON TELECOM MERGERS
A wave of mergers in Europe's fragmented telecom industry won't
necessarily boost investment and should be closely scrutinized, the
European Union's digital chief Andrus Ansip said Tuesday.
CONDÉ NAST ACQUIRES PITCHFORK MEDIA
In a deal that gives it immediate access to younger male
readership, Condé Nast has purchased privately held Pitchfork Media
Inc., owner of online music publication Pitchfork.com, a related
quarterly print magazine and the producer of music festivals in
Chicago and Paris.
BULLARD CONCERNED ULTRA-LOW RATES WILL PROMOTE MARKET EXCESSES
St. Louis Fed President James Bullard said he worries zero-level
interest rates will foster excesses in financial markets, adding
the main problem the U.S. economy has faced over the past two
decades is asset prices "getting out of hand and collapsing."
IRAN'S PARLIAMENT APPROVES NUCLEAR DEAL
By a vote of 161-59, with 13 abstentions, parliament approved a
bill supporting the agreement, said the official Islamic Republic
News Agency.
XEROX EXPECTS FIRST QUARTERLY LOSS SINCE 2010
Xerox expects a loss in its latest quarter, which would be its
first time in the red since 2010, as it will take a $385 million
pretax charge linked to interrupted government health care projects
in California and Montana.
VW TO USE COSTLIER DIESEL SYSTEM
Volkswagen's namesake passenger-car brand has unveiled a package
of cost-cuts and sweeping changes to its model and diesel strategy
in the wake of an emissions scandal.
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Markets Main
AT BARCLAYS, JES STALEY WOULD FACE DELICATE BALANCING ACT
U.S. banker James Staley is likely to land at Barclays with a
delicate balancing act to pull off: fine-tune its investment bank
while squeezing profits out of the retail arm.
Management & Careers
RADICAL IDEA AT THE OFFICE: A 40-HOUR WORKWEEK
Tired of checking work email at all hours? Some small firms say
a strict 40-hour workweek has made employees more efficient and
less stressed.
(END) Dow Jones Newswires
October 13, 2015 14:20 ET (18:20 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.