Reuters - Business Today

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Thursday, August 31, 2017

U.S. oil set for biggest monthly loss in over a year as floods hit demand

AMSTERDAM (Reuters) - U.S. crude oil prices are on track to post the steepest monthly losses in more than a year on Thursday as concerns spread over falling demand in the world's top oil-consuming country after storm Harvey knocked out almost a quarter of its refineries.

U.S. consumer spending rises moderately; inflation muted

WASHINGTON (Reuters) - U.S. consumer spending rose slightly less than expected in July and annual inflation increased at its slowest pace since late 2015, which could bolster expectations that the Federal Reserve will delay raising interest rates until December.

GE's new CEO preparing job cuts in bid to reduce costs: source

NEW YORK (Reuters) - General Electric Co is making plans to significantly reduce corporate staff in an effort to cut spending and boost profits under its new chief executive, and the company already has halted hiring in certain technology positions, a person familiar with the situation told Reuters.

NAFTA nations plan talks progress under barrage of Trump threats

MEXICO CITY (Reuters) - Trade negotiators plan to take small steps forward in a second round of talks to rework the North American Free Trade Agreement (NAFTA) this weekend, trying to ignore daily threats from U.S. President Donald Trump to tear it up if he does not get his way.

U.S. stock futures higher on strong economic data

(Reuters) - U.S. stock index futures were higher on Thursday as strong global economic data brought back appetite for riskier assets, even as tensions in the Korea peninsula and worries about the economic impact of tropical storm Harvey lingered.

New Uber CEO promises change, sees IPO in 18-36 months

SAN FRANCISCO/GEORGETOWN, Del. (Reuters) - Uber Technologies Inc's new Chief Executive Dara Khosrowshahi told employees on Wednesday the ride-services company would change its culture and may go public in 18 to 36 months.

Dollar, commodities cheered by China, U.S. data

LONDON (Reuters) - Investors rediscovered a taste for the dollar and commodities on Thursday, as upbeat Chinese and U.S. economic news whetted appetite for riskier assets globally, while tensions over North Korea simmered in the background.

Goldman plots return to banking growth mode through hires, investments

HONG KONG (Reuters) - Goldman Sachs Group Inc plans to add about half a dozen senior bankers over the next six months or so and invest more in Asia using its balance sheet as the Wall Street firm seeks to switch to a growth mode in investment banking, a top executive said.

U.S. house prices to keep rising on supply constraints: Reuters poll

BENGALURU (Reuters) - U.S. house prices are forecast to rise by a cumulative 10 percent over this year and next, driven by a scarcity of new homes, low interest rates and steadily-increasing demand, a Reuters poll of property market analysts showed.

Nestle shuts Swiss skin health products factory

ZURICH (Reuters) - Nestle said on Thursday it was closing a Swiss factory which makes products for its skin health business, responding to a slowdown in a business once seen as one of its rising stars.