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)
Copyright (c) 2016 Dow Jones & Company, Inc.