TOP STORIES
YELLEN SAYS FED COULD RAISE RATES 'IN COMING MONTHS'
Federal Reserve Chairwoman Janet Yellen said a rate increase
would be appropriate "probably in the coming months" if the economy
and labor market continue to strengthen.
VERIZON, UNIONS REACH LABOR PACT
Verizon Communications and its labor unions have reached an
agreement in principle that would end a weekslong labor strike.
U.S. STOCKS RISE, NOTCHING STRONG WEEKLY GAINS
A rally in technology shares this week propelled the Nasdaq
Composite to its largest weekly gain since February.
U.S. FIRST-QUARTER GDP GROWTH REVISED HIGHER TO 0.8%
The U.S. economy's first-quarter slowdown was less pronounced
than initially thought, and recent data have pointed to a pickup
for growth this spring.
BANK OF AMERICA REVIVES SALE OF CREDIT-CARD ISSUER MBNA
Bank of America has relaunched the sale of one of the U.K.'s
biggest credit card companies MBNA, according to people familiar
with the matter.
DELAY FOR BOEING'S NEW AERIAL TANKER
Boeing Co. said that first deliveries of its KC-46 tankers to
the U.S. Air Force will be delayed by five months.
CHINA'S ZOOMLION ABANDONS PURSUIT OF U.S. CRANE MAKER TEREX
Zoomlion Heavy Industry Science & Technology has decided to
end talks over a proposed acquisition of U.S. construction-crane
maker Terex.
OIL PRICES RETREAT FROM $50
Oil prices settled below the key $50 threshold again Friday, as
investors took profits from the recent rally and the dollar
strengthened.
PROSECUTORS: 1MDB MONEY LAUNDERING PROBE LARGEST EVER IN SINGAPORE
A cross-border investigation involving embattled Malaysian state
investment fund 1MDB is the largest money laundering probe ever
undertaken in Singapore, state prosecutors said Friday.
NETFLIX LOSES BID TO RELEASE RELATIVITY FILMS AHEAD OF THEATERS
A bankruptcy judge on Friday delivered a defeat to Netflix Inc.,
which has fought for the right to release two films produced by
Relativity Media LLC on its streaming platform ahead of their
expected theatrical release.
THERMO FISHER SCIENTIFIC TO BUY FEI FOR $4.2 BILLION
The maker of high-end electron microscopes will join Thermo
Fisher's analytical instruments segment after the cash deal.
CULLIGAN INTERNATIONAL EXPLORES A SALE
Water treatment company Culligan International is weighing a
sale that could value the business at about $900 million, according
to people familiar with the matter.
SILICON VALLEY DRIVERLESS-CAR STARTUP RAISES FRESH CAPITAL
The backer of a Silicon Valley autonomous car developer called
Zoox said the secretive startup raised a fresh round of capital
valuing it at more than $1 billion, roughly equal to a similar
company General Motors Co. acquired earlier this month.
ARGENTINA PLANS AMNESTY OVER FUNDS STASHED ABROAD
President Mauricio Macri says Argentina plans to offer an
amnesty to encourage Argentines to repatriate billions of dollars
thought to be stashed in storage vaults and bank accounts
overseas.
CENTERVIEW UNIT TO LAUNCH BLANK-CHECK COMPANY
Centerview Partners' private-equity arm plans to launch an
acquisition vehicle that would target consumer-products
companies.
U.S. CONSUMER SENTIMENT AT HIGHEST LEVEL IN 11 MONTHS
Americans are more confident than at any time in almost a
year-with the consumer sentiment index rising to 94.7 this month
from April's 89.0-as cheap gasoline, low interest rates, and a
rebound in stocks boost the economy's prospects.
JAPAN'S ABE HINTS AT TAX DELAY WITH GLOBAL-CRISIS WARNING
Prime Minister Shinzo Abe warned that the world faced a possible
economic crisis, opening the door to another delay in a planned
sales-tax increase in Japan.
QUALCOMM WILL MAKE CHINA-CUSTOMIZED CHIPS THROUGH CHINESE VENTURE
The move is an example of how U.S. tech companies are localizing
products as Beijing tightens control of technology within its
borders.
DE BEERS GETS A NEW CEO
De Beers named a new chief executive as the diamond giant steers
through a rough patch of low prices caused by weaker demand for the
precious gems.
CANADA TO POST BUDGET DEFICIT FOR JUST-ENDED FISCAL YEAR
Canada is on course to post a budget deficit for its just-ended
fiscal year after recording one of the biggest one-month shortfalls
on record owing to lower commodity prices.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Business
BIG OIL COMPANIES STAY SHY DESPITE UPSWING IN PRICES
The world's biggest energy companies are treating with caution
the rally that briefly lifted crude-oil prices over $50 a barrel
this week, wary of boosting spending and production too soon.
Financial Regulation
FED TO MEET JUNE 3 TO PROPOSE RULES FOR BIG U.S. INSURERS
The Fed's Board of Governors has scheduled an open meeting for
June 3 to release and discuss proposed rules for the insurance
industry.
(END) Dow Jones Newswires
May 27, 2016 17:03 ET (21:03 GMT)
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