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TOP STORIES
Japan's Takeda clinches $62 bln deal to buy drugmaker Shire
LONDON/TOKYO - Takeda Pharmaceutical agrees to buyLondon-listed Shire for $61.50 billion, marking the biggest dealyet in a wave of transactions sweeping the drug industry.(SHIRE-M&A/TAKEDA (UPDATE 5, PIX, TV), moved, by Ben Hirschler,Paul Sandle and Sam Nussey, 1,000 words)
EXCLUSIVE-Comcast prepares all-cash bid to gate-crashDisney-Fox deal
U.S. cable operator Comcast Corp is asking investment banksto increase a bridge financing facility by as much as $60billion so it can make an all-cash offer for the media assetsthat Twenty-First Century Fox Inc has agreed to sell to WaltDisney Co for $52 billion, three people familiar with the mattersay. (FOX-M&A/COMCAST (EXCLUSIVE, UPDATE 3, PIX, TV), moved, byGreg Roumeliotis and Liana B. Baker, 550 words)
+ See also:
- SKY-M&A/COMCAST, moved, 510 words
- FOX-M&A/COMCAST/ (UPDATE 1), moving shortly, by ArjunPanchadar and Sonam Rai, 390 words)
EXCLUSIVE-Walmart's grocery delivery partnerships with Uber,Lyft fail to take off
Walmart Inc's online grocery delivery partnerships withride-hailing services Uber and Lyft have ended, according to twosources, a potential setback for the retailer's ambitions tochallenge Amazon.com Inc head-on with speedy delivery ofgroceries to people's homes. (WALMART-GROCERY/DELIVERY(EXCLUSIVE, TV, PIX), moved, by Nandita Bose and HeatherSomerville, 900 words)
Fed debates new vocabulary as it shifts away from loosepolicies
PALO ALTO, Calif./AMELIA ISLAND, Fla. - The Federal Reserveis entering new terrain in its post-crisis planning: how todescribe the conditions under which it would try to slow theeconomy and to do so without alarming financial markets.(USA-FED/ (PIX, GRAPHIC), moving shortly, by Ann Saphir andHoward Schneider, 750 words)
EXPLAINER-Strikes and a departing CEO: Turmoil at AirFrance-KLM
BERLIN - Reuters looks at the major issues that underlie theturmoil at Franco-Dutch airline Air France-KLM its CEOsaid he would resign following the rejection of a pay offer bystriking French staff. (AIR FRANCE KLM-DISPUTE/ (EXPLAINER),moved, 680 words)
MARKETS
Wall St lower, Trump's Iran decision awaited
U.S. stocks edge lower, pulled down by technology andconsumer discretionary stocks, while investors await PresidentDonald Trump's decision on the Iran nuclear deal. (USA-STOCKS/(UPDATE 2), updated throughout the day, 420 words)
+ See also:
- GLOBAL-MARKETS/ (WRAPUP 5), updated throughout the day,710 words
Hedge funds slash bearish dollar bets, and there's more tocome: McGeever
LONDON - Hedge funds and speculators spent the first fourmonths of the year betting heavily against the dollar. They'renow running for the hills. (GLOBAL-MARKETS/SPECULATORS(COLUMN), moved, by Jamie McGeever, 560 words)
ENERGY
Oil backs off 2014 highs ahead of Trump's decision on Iran
LONDON - Oil eases ahead of an announcement by U.S.President Donald Trump later in the day on whether the UnitedStates will reimpose sanctions on Iran, but the price holdswithin sight of its highest in more than three years.(GLOBAL-OIL/ (UPDATE 5), updated throughout the day, 390 words)
Trump to lay out biofuels plan in meeting with senators-sources
U.S. President Donald Trump is expected to lay out his plansfor the nation's biofuel policy on Tuesday in a closed doorbriefing with senators, after months of hearing arguments aboutthe hotly contested regulation, according to two sources.(USA-BIOFUELS/TRUMP (PIX), moved, by Jarrett Renshaw, 540 words)
Andeavor says it saved $100 mln in U.S. biofuel costs in2016-17
NEW YORK - Andeavor, one of the largest U.S. refiningcompanies, has reported saving $100 million over the past twoyears because of lower compliance costs related to the U.S.Renewable Fuel Standard, which requires refiners to mix biofuelslike ethanol into the nation's fuel or purchase credits fromrivals that do. (USA-BIOFUELS/SAVINGS, moved, by JarrettRenshaw, 370 words)
ECONOMY
'Upswing remains intact': German data dispels downswingconcerns
BERLIN - A stronger-than-expected rebound in Germanindustrial output in March, and a jump in exports in the samemonth, help ease concerns that growth in Europe's biggesteconomy could have come to a standstill at the start of theyear. (GERMANY-ECONOMY/INDUSTRIALOUTPUT (UPDATE 3), moved, byMichael Nienaber, 670 words)
China April exports bounced back more than expected despiteUS trade brawl
BEIJING - China's exports rebounded more strongly thanexpected in April after a surprise drop the previous month,suggesting global demand remains relatively resilient andproviding a cushion to the economy amid a heated trade disputewith the United States. (CHINA-ECONOMY/TRADE (UPDATE 2, PIX,GRAPHIC), moved, by Elias Glenn, 790 words)
+ See also:
- USA-TRADE/CHINA-TALKS (UPDATE 1), moved, 360 words
Drab data show Bank of England's Carney a 'sensitiveboyfriend'
LONDON - Signals that Britain's economy is slowing suggest"unreliable boyfriend" Mark Carney - whose recent commentsup-ended expectations the Bank of England would raise rates thismonth - may just be in touch with his data-sensitive side.(BRITAIN-ECONOMY/ (GRAPHIC, PIX), moved, by Andy Bruce, 640words)
TRADE
US says something 'terribly wrong' at WTO, attacks China
GENEVA - The new U.S. ambassador to the World TradeOrganization tells the WTO's membership that something has gone"terribly wrong" with judges at the world body and that China'sarguments showed Beijing is living in a fantasy. (USA-TRADE/WTO(UPDATE 1), moved, by Tom Miles, 460 words)
COMPANIES
Valeant Pharma to rename itself as Bausch Health, liftsrevenue outlook
Valeant Pharmaceuticals International Inc has decided totake the name of its best performing optical products unit,Bausch Health Companies Inc, as part of a turnaround plan andraises its 2018 revenue forecast. (VALEANT PHARM IN-RESULTS/(UPDATE 2), moved, 290 words)
Icahn, Deason want bid of at least $40 per share for Xerox
Carl Icahn and Darwin Deason, shareholders in Xerox Corp whooppose an agreed deal with Fujifilm Holdings, say they wouldconsider an all-cash bid of at least $40 per share - a 43percent premium to the Japanese firm's offer.(XEROX-M&A/FUJIFILM (UPDATE 6, PIX), moved, by LahareeChatterjee, 620 words)
Walmart likely to announce Flipkart deal before end of thisweek -sources
MUMBAI/BENGALURU - Walmart is likely to announce itsmuch-anticipated deal to buy a controlling stake in Indiane-commerce player Flipkart before the end of this week, twosources said, in what is likely to be the U.S. retail giant'sbiggest acquisition of a business. (FLIPKART-M&A/WALMART (PIX),moved, by Sankalp Phartiyal and Nivedita Bhattacharjee, 460words)
EXCLUSIVE-Hudson's Bay seeks to revive Lord & Taylor'sfortunes
Hudson's Bay Co is working with investment bankers andconsultants to identify deals and new measures to turn aroundits Lord & Taylor department store chain, once the cornerstoneof its retail empire, people familiar with the matter say.(HUDSONSBAY-LORD&TAYLOR/ (UPDATE 1, EXCLUSIVE, PIX, GRAPHIC),moved, by Jessica DiNapoli and Nichola Saminather, 970 words)
ALSO IN THE NEWS
Lack of Wall St back-office deters mainstream cryptoinvestments
NEW YORK - Mundane back-office concerns are giving pause topotential investors in digital currency hedge funds who haveotherwise warmed up to the volatile asset class.(CRYPTO-CURRENCIES/FUNDS (PIX), moved, by Lawrence Delevingneand Anna Irrera, 860 words)
Memory boost: How chipmakers are weathering slowingsmartphone sales
SEOUL/SINGAPORE - Investors in global chipmakers have had arocky ride in the last few months on worries about a slowingsmartphone market, but a clamor for more video content fromconsumers is underpinning sales for memory-chip makers.(TECH-CHIPS/ (ANALYSIS, PIX), moved, by Joyce Lee and SayantaniGhosh, 750 words)
