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TOP STORIES
Allergan moves in as Shire rebuffs $63 bln Takeda bid-sources
LONDON/NEW YORK - Drugmaker Shire has rejected a thirdtakeover bid worth nearly $63 billion from Japan's TakedaPharmaceutical, although talks are continuing, while sources sayAllergan is also in competing negotiations. (SHIRE-M&A/TAKEDAPHARMA-BID (UPDATE 2), moved, by Greg Roumeliotis, Ben Hirschlerand Ben Martin, 550 words)
EXCLUSIVE-China looks to speed up chip plans as U.S. tradetensions boil -sources
BEIJING - China is looking to accelerate plans to developits domestic semiconductor market amid a fierce trade stand-offwith the United States and a U.S. ban on sales to Chinese phonemaker ZTE that has underscored the country's reliance onimported chips. (USA-TRADE/CHINA-CHIPS (EXCLUSIVE), moved, byElias Glenn and Cate Cadell, 600 words)
P&G to buy German Merck's consumer health unit for $4.2 bln
Procter & Gamble Co will acquire the consumer healthbusiness of Merck KGaA for $4.2 billion, giving it vitaminbrands such as Seven Seas and greater exposure to Latin Americanand Asian markets. (MERCK-M&A/P&G (UPDATE 3, PIX), moved, 450words)
MARKETS
Apple, P&G and chip stocks lead Wall St lower
U.S. stock are lower, pulled down by a broad-based slump intechnology stocks from Apple to chipmakers as well as a tumblein consumer staples such as Procter & Gamble. (USA-STOCKS/(UPDATE 3), updated throughout the day, 420 words)
+ See also:
- GLOBAL-MARKETS/ (WRAPUP 4, PIX), updated throughout theday, 830 words
Oil climbs on Saudi price ambitions and U.S. stocks draw
LONDON - Oil prices keep rising to their highest since late2014 as U.S. crude inventories decline, moving closer tofive-year averages, and after sources tell Reuters that topexporter Saudi Arabia aims to push prices even higher.(GLOBAL-OIL/ (UPDATE 7, PIX), updated throughout the day, 430words)
TRADE/ECONOMY
U.S. weekly jobless claims dip in latest week
WASHINGTON - New applications for U.S. unemployment benefitsfell last week, indicating continued job growth after a slowdownin March. (USA-ECONOMY/UNEMPLOYMENT, moved, 340 words)
China says ready to deal with any fallout from U.S. traderow
BEIJING - China is well prepared to handle any negativeeffects from its trade dispute with the United States, thecommerce ministry says, adding that Beijing's tariff hikes onU.S. imports will not have a big impact overall on its domesticindustries. (USA-TRADE/CHINA (WRAPUP 1, TV), moved, by YawenChen and Se Young Lee, 490 words)
Trump, Japan's Abe agree to intensify trade talks
PALM BEACH - U.S. President Donald Trump and Japanese PrimeMinister Shinzo Abe say they have agreed to intensify tradeconsultations between the two longtime allies, with an aim toexpand investment and trade between their countries.(USA-JAPAN/TRADE-IMBALANCES (UPDATE 3), moved, by Steve Holland,500 words)
COMPANIES
As Bon-Ton liquidates, U.S. department stores vie for itsshoppers
With the disappearance of Bon-Ton, which won courtpermission on Wednesday to liquidate, rivals such as Macy's Inc,J.C. Penney Co Inc and Kohls Corp will compete to keep longtimecustomers from turning to discounters like Walmart Inc or onlinejuggernaut Amazon.com Inc. (BON TON STORES-BANKRUPTCY/ (REPEAT),moved, by Tracy Rucinski and Melissa Fares, 480 words)
Nucor profit beats estimates on higher prices, shipments
Nucor Corp reported a higher-than-expected quarterly profitas its shipments and selling price increased, and the company,the No. 1 U.S. steelmaker by market value, forecast asignificant increase in second-quarter profit on a sequentialbasis. (NUCOR-RESULTS/ (UPDATE 1), moved, 210 words)
Market swings knock Blackstone earnings less than feared
Blackstone Group LP, the largest manager of alternativeassets such as private equity and real estate, on Thursdayreported a 20 percent drop in first-quarter earnings per sharebut still beat Wall Street's expectations, as a stock marketslump weighed on the value of its holdings. (BLACKSTONEGROUP-RESULTS/ (UPDATE 1), moved, by Joshua Franklin, 360 words)
China's ZTE removed chief compliance officer before U.S.sanction -source
HONG KONG - ZTE Corp's chief compliance and chief legalofficer was removed from his posts more than a month before theChinese telecom equipment maker was slapped with U.S. sanctionsthis week, a company source with direct knowledge of thesituation told Reuters. (USA-CHINA/ZTE (PIX), moved, by SijiaJiang, 370 words)
+ See also:
- USA-CHINA/ZTE-RIVALS, moved, by Olof Swahnberg and EricAuchard, 770 words
EXCLUSIVE-Facebook to put 1.5 billion users out of reach ofnew EU privacy law
SAN FRANCISCO - If a new European law restricting whatcompanies can do with people's online data went into effecttomorrow, almost 1.9 billion Facebook Inc users around the worldwould be protected by it. The online social network is makingchanges that ensure the number will be much smaller.(FACEBOOK-PRIVACY/EU (UPDATE 1, EXCLUSIVE, PIX), moved, by DavidIngram, 750 words)
Novartis CEO feels heat on U.S. generics, Cosentyx drop
ZURICH - Swiss drugmaker Novartis' first quarterly resultsunder new Chief Executive Vas Narasimhan have been marred by aprized psoriasis treatment that disappointed and a sharp slumpin sales by its U.S. generics unit. (NOVARTIS-RESULTS/ (UPDATE4, PIX), moved, by John Miller, 610 words)
