The repeal movement drew support from tea party groups, but Senate President Pro Tem Del Marsh, a Republican, blocked the bills with the support of one of the state's most powerful business groups, the Business Council of Alabama.» Read More
BLACKROCK CEO FINK SAYS HE RECEIVED ANGRY PHONE CALLS OVER HIS LETTER TO S&P 500 CEOS DECRYING SHORT-TERM THINKING.
A deal between Apple and Beats Electronics may come this week, but with a smaller price tag than originally thought, the New York Post says.
*Toll Brothers, Michael Kors up after earnings; DSW drops. NEW YORK, May 28- U.S. stocks were set to open little changed on Wednesday, with technicals in focus and scant key items on the U.S. economic calendar, following yet another record close on the benchmark S&P 500 index.
FRANKFURT, May 28- The European Central Bank said on Wednesday that investors' pursuit of higher profits could be generating new price bubbles, sounding the alarm as financial markets chase quick gains.
Valeant on Wednesday offered to pay $58.30 per Allergan share in cash, about $10 higher than its previous offer of $48.30. The new offer values Allergan at $166.16 per share as of Tuesday's closing price, and is about 8.6 percent higher than the previous bid of $153 as on April 22 when Valeant first made its offer.
May 28- German drugmaker Boehringer Ingelheim said it would pay about $650 million to settle U.S. lawsuits that claimed the company's blockbuster blood thinner Pradaxa had caused severe and fatal bleeding in patients.
*Copper cash trades at premium to three-month contract. LONDON, May 28- Copper prices hovered near three-month highs on Wednesday, underpinned by optimism about the outlook for demand from top consumer China.
*Telefonica's German deal could be set similar conditions. BRUSSELS, May 28- Hong Kong- based Hutchison Whampoa got the approval of the European Union's competition authority on Wednesday for its $1 billion bid for Telefonica's Irish mobile business in a case that could set the regulatory tone for Telefonica's bigger pending German merger deal.
NEW YORK, May 28- For some people, the magic of compound interest alone is enough to sell them on a 529 college savings plan, but others seem to need more incentive. Enter 529 Day, appropriately designated for May 29, aimed at raising awareness about the importance of saving for university and the advantages of a 529 plan.
*After EU summit, Merkel lacklustre on Juncker Commission bid. BRUSSELS, May 28- Chancellor Angela Merkel's diluted support for Jean-Claude Juncker's bid to be European Commission president has thrown the field open to other candidates, although it will be weeks before a single nominee emerges.
May 28- MasterCard Inc, the world's second largest debit and credit card company, said it was extending its zero liability policy in the United States to include all PIN-based and ATM transactions. Larger rival Visa Inc's zero liability policy does not apply to PIN-based and ATM transactions, according to information available on its website.
*Shares in Alstom rise on hope for progress in deal with GE. PARIS, May 28- General Electric strengthened its position in the battle for the power arm of French group Alstom on Wednesday with a pledge to create 1,000 jobs in France and recognition from Paris that it had made a more acceptable offer.
May 28- MasterCard Inc, the world's second largest debit and credit card company, said it was extending its zero liability policy in the United States to include all PIN-based and ATM transactions. Zero liability protection means the account holder will not be held responsible for unauthorized transactions.
BRASILIA, May 28- Brazil will likely stop raising interest rates on Wednesday to avoid choking an already weak economy even if inflation remains stubbornly high.
*Toll Brothers, Michael Kors up after earnings; DSW drops. NEW YORK, May 28- U.S. stock index futures edged up on Wednesday, with technicals in focus and scant key items on the U.S. economic calendar, following yet another record close on the benchmark S&P 500 index.
*To pay minority shareholders $14 in cash for each PetroLogistics unit. May 28- A Koch Industries Inc unit will take PetroLogistics LP private in a deal worth $2.1 billion, including debt, gaining control of a plant that can convert cheap U.S. shale gas into propylene, a key petrochemical used to make plastics.
LONDON, May 28- Copper spreads on the London Metal Exchange tightened sharply last week as the market finally started reacting to the continued steady erosion of available stocks. A research note by Goldman Sachs, advising short position-holders to roll out of the front part of the curve, seems to have acted as a collective wake-up call.
MILAN/ LONDON, May 28- Ukraine's stored gas reserves are sufficient to help meet domestic needs well into the winter months should Russia cut supplies as authorities step up efforts to rebuild inventories.
May 28- Michael Kors Holdings Ltd forecast first-quarter revenue above analysts' estimates, after reporting a 59 percent jump in fourth-quarter profit due to higher demand for its handbags and watches in North America, its biggest market. Shares of the company, founded by fashion designer Michael Kors, rose about 8 percent in premarket trading.
LONDON, May 28- The euro fell to a new three-month low on Wednesday as expectations solidified for a multi-pronged attack on monetary policy by the European Central Bank next week. "It does feel like something is finally beginning to change on the euro," Neil Mellor, a strategist at Bank of New York Mellon in London, said.