PRESS DIGEST- Financial Times - May 2

May 2 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.













U.S. drugmaker Pfizer Inc is planning to sweeten its 60 billion pound ($101.37 billion) takeover bid for AstraZeneca Plc hoping to increase pressure on its UK rival to enter talks to create the world's biggest pharmaceuticals company.

The U.S. government has said business leaders who attend the St. Petersburg International Economic Forum in May are sending "an inappropriate message, given Russia's behaviour" in Ukraine.

The two big U.S. credit card companies, Visa and MasterCard, have both warned about the impact of proposed legislation in Russia - a response to U.S. sanctions - that will increase the control of the Russian authorities over its payment systems.

Rolls-Royce Chief Executive John Rishton said he was "reasonably optimistic" about the sale of the company's energy business to Siemens going through, in a deal expected to raise at least 900 million pounds.

Britain's financial watchdog, the Financial Conduct Authority, has banned a former co-worker of UBS rogue trader Kweku Adoboli from working in the financial services industry. ($1 = 0.5919 British pounds) (Compiled by Richa Naidu in Bangalore; Editing by Lisa Shumaker)

  • Business

    Teacher pensions under fire: 5 tips to prepare for retirement

    If you’re a teacher, the promise of a good retirement pension may have been a selling point when you took the job. Critics warn that pensions are at risk of severe underfunding in some states, and righting them hinges on tax increases so local governments can contribute their share. Some have suggested teachers adopt defined contribution plans, similar to 401(k)s, instead.

  • How Amazon counterfeits put this man's business on brink of collapse

    How Amazon counterfeits put this man's business on brink of collapse

    Mark Lopreiato was thrilled when he was invited to promote his Forearm Forklift on ABC's "Good Morning America" last month. Lopreiato appeared on "Buy it and Try It," a segment for hosts to test out popular niche gizmos from infomercials in front of an enthusiastic New York studio audience. Then it was Forearm Forklift's turn.

  • Why Thousands of Combat Vets Have to Repay Their Enlistment Bonuses
    The Fiscal Times

    Why Thousands of Combat Vets Have to Repay Their Enlistment Bonuses

    The watchdog charged with monitoring how American money is spent in Afghanistan has in recent years identified projects in which hundreds of millions of taxpayer dollars have been wasted or gone missing: More than $100 million in over-budget expenditures to build the Afghan Ministry of Defense building and $150 million blown on luxury residences for members of the task force charged with rebuilding the Iraqi and Afghan economies, for example. The military has been trying to claw back excessive bonuses that the California National Guard paid to about 10,000 veterans – some of whom went on multiple combat tours – according to The Los Angeles Times. The Times says that with ongoing wars in Iraq and Afghanistan 10 years ago, the military was eager to boost re-enlistment and in many cases offered incentives of $15,000 or more that went beyond what was allowed.

  • Best Vanguard Funds for Your Retirement Savings

    Best Vanguard Funds for Your Retirement Savings

    Vanguard is the biggest fund company in the land, with more than $3 trillion in assets. So chances are high that many retirement savers have access to Vanguard funds in their 401(k) plans. But size is no guarantee of good results. Thirty-four Vanguard funds appear on a list of the 105 most popular mutual funds in employer-sponsored retirement savings plans. No other fund company comes close. Not surprisingly, of the 34 most popular Vanguard funds in retirement plans, 15 are index funds. And nine more are target-date portfolios—those set-it-and-forget-it funds that shift over time to more conservative allocations as the fund nears its target year. The remaining 10 are actively managed. We didn’t

  • Blighted lives: The true cost of diabetes
    BBC News

    Blighted lives: The true cost of diabetes

    Steven Woodman walks like an old man. He needs a stick to maintain his balance as he hobbles forward. Steven is only in his late 50s, but the loss of three toes on one foot means he's unsteady on his feet. It is type 2 diabetes that has led Steven to where he is now. More accurately, it's ignoring the warnings and advice around diabetes that has left him facing a life of disability. He was diagnosed with type 2 diabetes, closely linked to lifestyle and weight gain, when he was still a young man. Steven, who lives in Shrewsbury, freely admits that, at the time, he ignored his GP's advice. "I was in denial. I never took it that seriously, so I carried on eating, going to the pub - doing things

  • Jared Fogle's ex-wife is suing Subway, alleging that it ignored complaints about his sexual interest in children
    Business Insider

    Jared Fogle's ex-wife is suing Subway, alleging that it ignored complaints about his sexual interest in children

    The lawsuit, filed on behalf of Kathleen McLaughlin, says Subway was notified at least three times about Fogle's "sexual interest in and activity with children" but kept featuring him in ads and did not notify authorities. "As early as 2004, Subway's then-senior vice president of marketing received a complaint that Jared had approached a young girl at a promotional event for a Las Vegas Subway franchise for a sex act," the suit alleges.

  • Politics
    Bloomberg Video

    Clinton Pulls Ahead of Trump as Campaign Winds Down

    Oct. 24 -- Democratic presidential candidate Hillary Clinton is expanding her lead against Republican Donald Trump, according to the latest ABC News tracking poll. Bloomberg's Megan Murphy examines the polls with only 15 days remaining in the 2016 presidential campaign. She speaks on "Bloomberg Daybreak: Americas."

  • Belfast bakery loses appeal over refusal of gay-rights cake
    Associated Press

    Belfast bakery loses appeal over refusal of gay-rights cake

    A Belfast bakery on Monday lost its appeal of a ruling that it discriminated against a gay customer by refusing to bake a cake decorated with a message supporting same-sex marriage. The judgment against Ashers Baking Co. found that the family-run chain was wrong to treat gay customers any differently from heterosexuals. The Northern Ireland Equality Commission pursued the lawsuit against Ashers on behalf of the spurned customer, who had ordered the cake for a gay rights event.

  • Coke and Pepsi are finally ditching sugar
    Business Insider

    Coke and Pepsi are finally ditching sugar

    This past week we learned that PepsiCo is finally turning against sugar. On Monday, PepsiCo announced that by 2025, two thirds of its drinks will have 100 calories or fewer from added sugar, per 12 oz serving. Currently, these types of sugary beverages make up 40% of PepsiCo's drinks.

  • Business

    7 Mistakes Even Informed Investors Can Make with Their 401(k)s

    How's your 401(k)'s health these days? Hopefully you treat it like your own health, getting regular checkups to make sure everything is working well. Because if you wait until you have a concern, whether it's your own health or your 401(k)'s, you might

  • Trump Surrogates Continue Their Apologist Tour to Election Day
    The Fiscal Times

    Trump Surrogates Continue Their Apologist Tour to Election Day

    It’s a thankless job being a Donald Trump surrogate these days. The job fell to campaign manager Kellyanne Conway and Republican National Committee Chairman Reince Priebus this weekend, and both twisted themselves in verbal knots casting the Trump campaign as something other than a foundering ship that’s headed to the bottom. After promising to deliver a “closing argument” in a speech on Saturday in Gettysburg, PA, Trump instead dedicated part of his remarks to promising to sue each of the dozen or so women who have accused him of sexual assault.

  • For some low-income workers, retirement is only a dream
    Associated Press

    For some low-income workers, retirement is only a dream

    The photo and his story went viral and thousands of people donated more than $384,000 for his retirement. With no money saved for retirement, home care worker Gwen Strowbridge, 71, of Deerfield, Florida, plans to stay on the job until she can't physically work anymore. Studies have found that about one-third of low wage workers like Strawbridge say they'll never be able to afford retirement.

  • News

    2017 Consumer Reports New Car Reliability Results

    Find out what brands build the most reliable new cars, which ones are most likely to need repair, and what tends to go wrong.

  • America's biggest banks are closing hundreds of branches
    Business Insider

    America's biggest banks are closing hundreds of branches

    According to the 3Q earnings report, the bank has 21 million mobile banking active users and 18% of deposit transactions are completed through mobile devices. "That’s better for customers, it’s also better for our shareholders," said Donofrio.

  • Business
    American City Business Journals

    Apple expected to report first annual revenue decline in more than a decade

    It’s been a great run, but Apple is expected to report its first annual revenue decline in 14 years. For the fiscal year 2016, ending Sept. 30, analysts anticipate that Apple will report $215.67 billion in annual revenue, down from $233.72 billion it reported for fiscal year 2015 . The last time Apple experienced an annual decline in revenue was back in 2001 when the company reported $5.36 billion in revenue, down from $7.98 billion in revenue in 2000.

  • Jeff Bezos, Jamie Dimon, Warren Buffett agree on the No. 1 priority for business
    Yahoo Finance

    Jeff Bezos, Jamie Dimon, Warren Buffett agree on the No. 1 priority for business

    In recent weeks, we’ve heard Warren Buffett, Jamie Dimon and Jeff Bezos talk about managing their businesses. At the Economic Club of Washington DC in September, JPMorgan CEO Jamie Dimon discussed what eventually led to his ouster from Citigroup in 1998. JPMorgan Chase is the largest bank in America.

  • Oil dips on Buzzard restart, Iraq; U.S. crude tests below $50

    Oil dips on Buzzard restart, Iraq; U.S. crude tests below $50

    Oil prices dipped on Monday, with U.S. crude briefly falling below $50 per barrel, on news of the impending restart of Britain's Buzzard oilfield and Iraq's wish to be exempted from OPEC production cuts. Iraq's oil minister Jabar Ali al-Luaibi said the second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC) wanted to be exempt from output curbs as it needed more money to fight Islamic State militants. OPEC hopes to remove about 700,000 bpd from an estimated global supply of 1.0-1.5 million bpd.

  • Former CEO explains how to nurture star employees
    Yahoo Finance

    Former CEO explains how to nurture star employees

    High-potential performers (or Hi-Pos) stand out due to their associative thinking skills—which help solve problems and drive innovation—their strong emotional awareness, and their incredible perseverance, according to Carter Cast, a clinical professor of innovation and entrepreneurship at the Kellogg School and former CEO of, a division of Walmart (WMT). Putting a mirror up in front of people can help them recognize weaknesses, triggers, and gaps that may be impeding self-regulation and performance.

  • 9 Tips to Ensure You’ll Have Enough to Retire
    Money Talks News

    9 Tips to Ensure You’ll Have Enough to Retire

    Life expectancy for women and men in 1970 was just short of 71 years, for example, so retirement funds did not have to see most people to age 90 or 100. Today, those of us approaching retirement are playing a very new game. Will Social Security be your primary source of income in retirement?

  • Chesapeake Energy Analysts Change Their Tune

    Chesapeake Energy Analysts Change Their Tune

    On Wednesday evening, Chesapeake Energy Corp. (NYSE: CHK) stock closed at $6.72. Shares dropped by more than 5% to $6.36 early Thursday morning as the company kicked off its first investor day presentation in two years. The downturn was very likely the result of the company’s forecast for 2016 and 2017. Production growth is estimated at flat to up 3% for 2016 and at down 5% to flat for 2017. And that comes at the cost of higher capital spending. We looked at Chesapeake’s presentation in some detail on Thursday. By the end of the day Thursday, Chesapeake stock had regained all its lost ground and added 2.8% besides to close at $6.91. But by the early afternoon Friday, shares traded down about

  • AT&T, Time Warner CEOs say mega-merger is all about speed and mobility

    AT&T, Time Warner CEOs say mega-merger is all about speed and mobility

    The companies do not compete anywhere, Stephenson said, adding mergers of this nature usually get done by making concessions to regulators. Stephenson said content and distribution are converging, and he argued that this deal is a natural evolution of the industry. Any innovation will be available to the entire marketplace, Stephenson added.

  • Business
    Associated Press

    Is sneaker production making a return run to the US?

    Crafting the latest trends in global footwear used to be the pride of U.S. shoe industry workers, but most of those jobs left long ago for Asia. Now, the American sneaker factory could be coming back — with robots doing most of the work. Reebok said Monday it plans to open a new high-tech laboratory in Rhode Island to make sneakers by pouring liquid plastic.

  • JPM

    The Zacks Analyst Blog Highlights: JPMorgan Chase, Citigroup, Wells Fargo, Bank of America and PNC Financial Services Group

    For Immediate Release Chicago, IL – October 24, 2016 – announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets.

  • Business

    Analysts' Actions -- Kinder Morgan, AT&T, Verizon, 3M and More

    RATINGS CHANGES Ariad Pharmaceuticals was downgraded to underweight from neutral at JPMorgan. $7 price target. Expect more volatility in the near term, JPMorgan said.  Con Edison was upgraded to hold from sell at Deutsche Bank. The valuation

  • Business

    Dollar gains against yen as traders see Dec. Fed rate hike

    The U.S. dollar hovered near a nine-month high against a basket of major currencies and touched a one-week high against the yen on Monday on growing expectations of a Federal Reserve interest rate increase in December. Recent positive economic data and comments from central bank officials have bolstered those expectations, with traders on Monday seeing a roughly 74 percent chance that the Fed will raise rates in December, according to data from CME Group's FedWatch programme. The Fed could appropriately raise rates three times between now and the end of 2017, Chicago Fed President Charles Evans said on Monday, so long as inflation expectations and the labour market continue to improve.