These are the stocks posting the largest moves before the bell.Market Insiderread more
The Fed is expected to cut rates Wednesday, but it is unlikely to tell markets what they want to hear on future rate cuts.Market Insiderread more
Corporate executives and money managers have grown increasingly pessimistic about the economy as growth around the world slows.Trader Talk with Bob Pisaniread more
Facebook unveils the Portal TV, a streaming device that comes with a camera and microphones for making video calls via television.Technologyread more
U.S. homebuilding surged to more than a 12-year high in August as both single- and multi-family housing construction increased.Economyread more
Four Wall Street firms downgraded FedEx after the company's poor earnings report.Marketsread more
FedEx says trade around the world is starting to feel the squeeze of increased tariffs.Marketsread more
U.S. stock futures point to a modestly lower Wednesday morning open on Wall Street ahead of what the markets in the afternoon expect to be the Fed's second interest rate cut...Marketsread more
Mortgage applications to purchase a home increased 6% for the week and were a strong 15% higher annually.Real Estateread more
The House subcommittee that oversees consumer product investigations launched its a probe of Juul in June, holding two days of hearings in July. In a letter to Juul sent...Health and Scienceread more
Pelosi said Trump should not have tried to address China's trade practices in a way that opened Americans up to financial pain.Politicsread more
(Adds analyst comment, bill removing cross-ownership postponed)
BRASILIA, Sept 11 (Reuters) - The Brazilian Senate's Science and Technology Committee on Wednesday approved a bill that will modernize Brazil's telecommunications law and boost companies in the sector by lifting restrictions on asset sales.
The full Senate could vote on the bill, known as PLC 79, later on Wednesday. The bill has already passed the lower house of Congress and, if approved by the Senate, will go the President Jair Bolosonaro to be signed.
The law aims to encourage investment in broadband in remote areas of Brazil by allowing companies to own outright telecom assets, such as cellphone towers and valuable real estate, that they may sell if they so choose.
Passage of PLC 79 is expected to unleash a wave of asset sales and benefit the entire Brazilian telecommunications industry, especially Oi SA, which is in bankruptcy protection and would become more attractive to a buyer.
Shares of Oi jumped 4% on news that the bill cleared the committee stage before drifting back down again on Sao Paulo's stock market, while Telefonica Brasil SA gained 1.1%.
The bill could also benefit Claro, the local subsidiary of Mexico's America Movil SAB de CV, and TIM Participações SA, a subsidiary of Telecom Italia SpA .
The bill changes the current, more restricted model so that assets used under concessions would no longer revert to the government once a service provider's contract period expires. It also ends the requirement that providers invest in outdated technology such as public phones and landlines.
Besides removing restrictions on asset sales, the new law would allow fixed-voice concessionaires to swap obligations they have under current concessions for investments in broadband assigned by telecoms regulator Anatel.
It is now up to Anatel to implement the changes, which could take 12 to 18 months. But the bill's passage reduces uncertainty about concessions and will speed up new investment decisions and sector consolidation, Itau BBA said in a research note to clients.
The committee postponed until next Wednesday a vote on another key bill that would lift a ban on cross-ownership between distributors and content producers in Brazil's paid TV sector.
The current law has prevented approval by Anatel of the $85 billion takeover of content group Time Warner Inc by AT&T Inc , which owns Sky Brasil, the country's largest satellite provider. The merger was approved in 2017 by Brazils antitrust regulator CADE that allowed the companies to keep their assets in the country as long as they remain separate operations. (Reporting by Anthony Boadle; Editing by Steve Orlofsky and Dan Grebler)