TOP STORIES 
 
U.S. SECOND QUARTER GDP REVISED UP TO 1.4% GAIN 

The U.S. economy grew at a modestly faster pace in the second quarter than previously estimated, but the latest data confirms the expansion decelerated in the first half of the year.

U.S. STOCKS ACCELERATE DECLINES 

U.S. stocks accelerated their declines in afternoon trading, reversing gains that followed the announcement of a prospective deal between major oil-producing nations to cut production levels.

FED'S POWELL CALLS GRADUAL INCREASES THE 'CORRECT PATH' FOR RATES 

Federal Reserve Board governor Jerome Powell said the central bank can afford to be patient in gradually increasing interest rates as the economy slowly improves.

SUPREME COURT AGREES TO HEAR SWIPE-FEES CASE 

The Supreme Court on Thursday agreed to decide whether states can prohibit merchants from imposing a surcharge on customers who use credit cards.

IRAQ QUARREL ON PRODUCTION NUMBER COULD SINK OPEC DEAL 

A crack is already evident in OPEC's deal to cut oil production: Resurgent producer Iraq is disputing the output numbers that underpin the accord.

LEHMAN TO PAY ANOTHER $3.8 BILLION TO CREDITORS 

The team winding down Lehman Brothers said it would be paying out $3.8 billion to creditors next week, more than eight years after the investment bank's collapse triggered the financial crisis.

REDSTONE FIRM URGES VIACOM, CBS TO EXPLORE MERGER 

National Amusements, Sumner Redstone's family holding company, publicly called for the boards of Viacom Inc. and CBS Corp. to explore a merger.

FCC POSTPONES VOTE ON TV SET-TOP BOX PLAN 

Federal regulators delayed a vote on a proposal to overhaul the market for TV set-top boxes, dealing a major setback to Federal Communications Commission Chairman Tom Wheeler on one of his top priorities for the year.

BUNDESBANK PRESIDENT REJECTS CALLS FOR GERMAN STIMULUS 

It's absurd to ask Germany's government to spend more to bolster eurozone growth, German Central Bank President Jens Weidmann said on Thursday, rejecting growing pressure on Berlin to loosen its purse strings.

IBM PLANS TO BUY PROMONTORY FINANCIAL GROUP 

International Business Machines plans to purchase consultancy Promontory Financial Group, the two companies said Thursday, creating a new subsidiary dubbed 'Watson Financial Services.'

VIVENDI REFRAINS FROM SEEKING UBISOFT BOARD REPRESENTATION 

French billionaire Vincent Bolloré , the chairman of Vivendi, has refrained from seeking representation on Ubisoft's board at a meeting of the videogame maker's shareholders.

MCDONALD'S RAISES QUARTERLY DIVIDEND 6% 

McDonald's Corp. said it raised its quarterly dividend 6%, flipping more cash to shareholders as the fast-food giant continues to benefit from its turnaround plan.

MICROSOFT CENTRALIZES AI EFFORTS AS EXECUTIVE STEPS DOWN 

Microsoft is concentrating its artificial-intelligence efforts under one roof as veteran executive Qi Lu stepped down to focus on recovering from a bicycle accident.

OIL PRICES HOLD GAINS ON OPEC DEAL SKEPTICISM 

Oil prices held gains Thursday amid uncertainty about the Organization of the Petroleum Exporting Countries' proposal to cut crude output.

PENDING HOME SALES FALL IN AUGUST 

The number of homes in the U.S. that went under contract fell in August to the lowest level since January, the latest sign the housing market lost momentum in recent months.

U.S. JOBLESS CLAIMS RISE 

The number of Americans applying for first-time unemployment benefits edged up last week but remained at a low level consistent with a generally healthy labor market.

NISSAN SEEKS BREXIT TRADE ASSURANCES BEFORE NEW U.K. INVESTMENT 

Nissan may scrap a major investment in the U.K. without more clarity on the nature of post-Brexit trade relations between the U.K. and mainland Europe, its chief executive said. He

PEPSICO BOOSTS EARNINGS FORECAST 

PepsiCo raised its 2016 profit outlook after revenue surged in key overseas markets like China and as the U.S. beverage business picked up steam in the third quarter.

APPLE'S CHINA RESEARCH CENTER TO DEVELOP HARDWARE, LANDLORD SAYS 

Apple's first research center in China will be a $45 million facility located in the capital to develop hardware, the site's landlord said, announcing some of the first details of the project.

COMMERZBANK TO SLASH JOBS, SCRAP DIVIDEND IN BROAD REVAMP 

Commerzbank said it plans a wide-ranging overhaul that includes laying off close to 10,000 jobs, or roughly 20% of its workforce, merging two large units and scrapping its dividend.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Oil Markets 
WHY MARKETS ARE SKEPTICAL OF OPEC'S PROSPECTIVE DEAL 
 

Oil prices surged after OPEC said its members proposed to curb output. Here are five reasons to be skeptical about a lasting rally in crude-oil prices.

 
Media & Marketing 
A CBS-VIACOM MERGER? IT DEPENDS ON THE REDSTONE-MOONVES DANCE 
 

The relationship between CBS chief Leslie Moonves and Shari Redstone holds the key to whether she can pull off what would be a dramatic finale to a year of corporate drama, by reuniting the two companies her father split apart a decade ago.

(END) Dow Jones Newswires

September 29, 2016 13:19 ET (17:19 GMT)