Market Update - Britain's FTSE 100, Vodafone, Tata Steel, Twitter
Asian equity markets mostly down, Oil and Nat Gas down, Dollar down, Metals up
Nikkei 225 19,801.23 -118.59 (-0.60%)
Hang Seng 25,320.05 -15.89 (-0.06%)
Australia ASX 5,824.00 -58.20 (-0.99%)
Shanghai A 3,255.66 -4.31 (-0.13%)
Shanghai B 326.62 +1.35 (0.41%
Here are the top business headlines from around the world:
May 17 - Britain's FTSE 100 index is seen opening 24
points lower on Wednesday, according to financial bookmakers.
* LLOYDS: Britain is set to sell its remaining stake in Lloyds Banking Group
on Wednesday, making the lender the first to re-emerge from British
state ownership in a symbolic step for the country's recovering banking sector.
* VODAFONE: Vodafone Chief Executive Vittorio Colao said he was
optimistic Britain would secure a Brexit deal that works for both sides because
there was so much at stake for over 500 million European citizens.
* TATA STEEL/PENSION: India's Tata Steel has agreed the main terms
of a deal to cut benefits for its British pension scheme in a move that will see
the firm back a new plan that will pose less risk to the company.
* BRITAIN PROPERTY: The amount of empty office space in London has jumped
over the past 15 months and is likely to rise again despite potential for a
post-Brexit business exodus that could drive down rental values, a survey showed
on Wednesday.
* MINERS: Major mining companies, including some of the world's biggest
suppliers of fossil fuel, are seeking to use more renewable energy themselves as
they strive to drive down costs and curb emissions.
* The UK blue chip index ended up 0.9 percent on Tuesday, with telecoms
stocks and consumer staples providing the impetus, while energy stocks supported
gains as the price of crude rose.
U.S. industrial output rose sharply in April, the latest evidence that economic growth is picking up following a lackluster start to the year. Industrial production jumped 1.0 percent from a month earlier, the Federal Reserve said.
Twitter's co-founder Biz Stone is rejoining the company to focus on its culture, in an attempt to revive morale amid many executive departures and slumping growth. In his new role, Stone will also aim to convey elements of Twitter's culture externally, he said in a blog post.
France's privacy watchdog slapped Facebook with a 150,000 euro ($166,515.00) fine on allegations the social media giant's privacy policy breaching French law. France's Commission Nationale de l'Informatique et des Libertés, or CNIL, accused Facebook of compiling massive amounts of personal data for targeted advertising without granting users the option of objecting to it.