India Breaking News: Reuters Business Today: August 26, 2015

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Wednesday, August 26, 2015

Wall Street set to open higher following data

(Reuters) - U.S. stocks were set to open higher on Wednesday a day after a rally on Wall Street fizzled as concerns about China's economy overwhelmed a bout of bargain-hunting.

Business spending plans measure jumps in July

WASHINGTON, (Reuters) - A gauge of U.S. business investment plans posted its largest increase in just over a year in July, underscoring the durability of the economic recovery despite a slowing global economy.

World shares sag as China jitters persist

LONDON (Reuters) - Wall Street was expected to open almost 2 percent higher and Europe staged a fight-back on Wednesday, as traders tried to shake off fears about China's slowing economy and stocks collapse that is wreaking havoc in global markets.

Schlumberger to buy oilfield gear maker Cameron in $14.8 billion deal

(Reuters) - Oilfield services company Schlumberger Ltd agreed to buy Cameron International Corp , which makes equipment used by oilfield services providers, in a deal valued at $14.8 billion to cut costs amid weak drilling activity.

Greece deal points to flexible approach to bank rescues in EU

LONDON (Reuters) - European Union rules to shield taxpayers from having to rescue ailing banks should be applied flexibly because of broader economic imperatives highlighted by the latest Greek rescue package, analysts and lawyers say.

China August official factory PMI seen shrinking to three-year low

BEIJING (Reuters) - Activity in China's manufacturing sector likely shrank at its fastest pace in three years in August, a Reuters poll suggested, adding to signs of deepening economic weakness which are shaking global financial markets.

Oil catches breath near six-and-a-half-year lows after falls

LONDON (Reuters) - Oil stabilized on Wednesday after China's central bank moved to support the country's economy, but prices stayed near 6-1/2-year lows as a heavy supply glut kept the market outlook bearish.

U.S. dollar fails to get usual safety bid from volatility in short term

NEW YORK/LONDON (Reuters) - Most bouts of global market volatility in recent years have featured one constant: the U.S. dollar strengthens as investors clamor for the perceived safety of U.S. assets such as Treasuries.

Washington D.C. regulators reject Exelon-Pepco power merger

WASHINGTON (Reuters) - Utilities regulators for the District of Columbia on Tuesday denied Exelon Corp's $6.8 billion bid for Pepco Holdings Inc , dealing a major blow to a deal that would have created the country's top power distributor.