Reuters - Before the Bell

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Monday, October 30, 2017

World stocks hit new high as Spain relief, tech rally boost European trading

LONDON (Reuters) - A strong rally in the technology sector helped drive global stocks to a record high on Monday, while a recovery in Spanish markets helped to lift European shares after an opinion poll smoothed investors' concerns over Catalan secession.

Scandal-hit Kobe Steel seeks loans, shareholder offers support

TOKYO (Reuters) - Kobe Steel Ltd is seeking 50 billion yen ($440 million) in loans from banks, a banking source said on Monday, while a shareholder said it was ready to offer support as the company grapples with a scandal over falsified product specifications.

Two banks drop McKinsey in fallout from South Africa scandal

JOHANNESBURG (Reuters) - Barclays Africa and Standard Bank said on Monday they would stop working with McKinsey, a further blow to the global consultancy as it faces allegations of bribery for work done with friends of South African President Jacob Zuma.

'Golden Arches': McDonald's gets new China name following unit sale

SHANGHAI (Reuters) - U.S. fast food giant McDonald's Corp is getting a name change in China - at least on paper.

Futures slightly lower as Fed chair decision looms

(Reuters) - U.S. stock index futures pointed to a lower opening for Wall Street on Monday as investors held back from making big bets ahead of a decision on the next Federal Reserve head.

Activist White Tale demands Clariant board seats, review

ZURICH (Reuters) - White Tale Holdings, the activist investor that thwarted a $20 billion merger between Clariant and U.S. rival Huntsman, on Monday demanded three seats on the Swiss chemical maker's board and an independent strategic review of the business.

U.S. regulator wants to loosen leash on Wells Fargo: sources

WASHINGTON (Reuters) - A leading U.S. regulator wants to make it easier for Wells Fargo to pay employees when they leave, loosening a restriction in place since a phony accounts scandal hit the bank last year, according to people familiar with the matter.

Akzo Nobel seeks $30 billion merger with smaller U.S. rival Axalta

AMSTERDAM (Reuters) - Dutch paints maker Akzo Nobel, under pressure after rejecting a lucrative takeover offer and two profit warnings, has confirmed merger talks with smaller U.S. rival Axalta Coating Systems Ltd to create a $30 billion company.

HSBC says it might move fewer than 1000 jobs to Paris on Brexit

LONDON (Reuters) - HSBC may move fewer than 1000 jobs to Paris following Britain's exit from the European Union, the bank's finance director Iain Mackay said on Monday.

U.S. oil exports boom, putting infrastructure to the test

NEW YORK/HOUSTON (Reuters) - Tankers carrying record levels of crude are leaving in droves from Texas and Louisiana ports, and more growth in the fledgling U.S. oil export market may before long test the limits of infrastructure like pipelines, dock space and ship traffic.