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Monday, May 8, 2017

Tyson Foods profit falls as plant fires hurt production

(Reuters) - Tyson Foods Inc , the No. 1 U.S. meat processor, reported a 21.3 percent slump in quarterly profit as a fire at two of its plants in the period disrupted chicken production, hurting sales volumes at the company's second-biggest business.

With eye on millennials, Coach buys Kate Spade for $2.4 billion

(Reuters) - Handbag maker Coach Inc said it would buy Kate Spade & Co for $2.4 billion as it looks to tap the popularity of its smaller rival's quirky satchels and totes among millennials.

Buffett: United made 'terrible mistake' with dragged passenger - CNBC

(Reuters) - Warren Buffett said on Monday United Airlines made a "terrible mistake" in handling the fallout of a recent incident when a man was forcibly dragged off a United flight, which drew widespread outrage and sparked Congressional hearings.

Buffett's 'carnival' draws shoppers and the sleep-deprived

OMAHA, Neb. (Reuters) - Katie Ryerson and her father took a train from their hometown of Columbus, Ohio, to Omaha, Nebraska, for her first Berkshire Hathaway Inc shareholder meeting, a weekend the conglomerate's billionaire chief Warren Buffett calls "Woodstock for Capitalists."

Fed's goals largely met, U.S. rate hikes on track: Mester

CHICAGO (Reuters) - The U.S. Federal Reserve has now met its employment goal and is nearing its inflation goal, despite some weak recent economic data, so it should continue raising interest rates, Cleveland Fed President Loretta Mester said on Monday.

Exclusive: Barrick faces sanctions for Argentina cyanide spills, judge says

SAN JUAN, Argentina(Reuters) - Barrick Gold Corp failed to complete improvements to the Veladero mine in Argentina that could have prevented the third spill of cyanide solution in 18 months, leading to eventual sanctions for the world's biggest gold miner, a judge told Reuters.

Akzo Nobel rejects third takeover proposal from PPG

AMSTERDAM (Reuters) - Dutch paint maker Akzo Nobel on Monday rejected a third takeover proposal from PPG Industries , leaving its larger U.S. rival to decide whether to make a formal bid without the support of Akzo's board, or throw in the towel.

Global stocks, euro fall as Macron win shifts focus to economy

LONDON (Reuters) - European stocks and the euro pulled back on Monday from highs touched after pro-European centrist Emmanuel Macron's emphatic but well-flagged victory in France's presidential election as investors' focus shifted from politics to monetary policy.

Banks planning to move 9,000 jobs from Britain because of Brexit

LONDON (Reuters) - The largest global banks in London plan to move about 9,000 jobs to the continent in the next two years, public statements and information from sources shows, as the exodus of finance jobs starts to take shape.

Brimming U.S. oil storage tanks to feel OPEC cuts last

NEW YORK (Reuters) - The energy industry scrutinizes U.S. oil stockpile data every week for evidence that OPEC supply cuts are ending a global crude glut, but growing domestic output means the world's largest oil consumer may be the last place to feel the cuts.