What's News: Business & Finance -- WSJ

Features Dow Jones Newswires

Illinois is on the verge of becoming the first U.S. state with a junk-bond rating following downgrades from S&P and Moody's.

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GM was beaten by Ford as the auto market's top seller in May and is on course for more job cuts at its American factories.

Stocks gained broadly, with all three major U.S. indexes setting records. The Dow industrials rose 135.53 points to 21144.18.

The decision by China's central bank to sharply boost the value of the yuan at its daily fixing Thursday surprised many investors.

PPG dropped its $27.6 billion bid for Dutch paint maker Akzo, in a blow to activist investor Elliott.

SoftBank's effort to arrange a tie-up between OneWeb and Intelsat collapsed after Intelsat bondholders failed to back the deal.

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Executive pay is increasingly linked to performance, but companies have wide latitude in setting the bar.

Manufacturing activity expanded and hiring at factories picked up in the U.S. in May, the ISM said.

Canada vowed to aid its lumber sector to help mitigate the impact of recently imposed U.S. tariffs.

Deere is paying $4.89 billion for German road-equipment maker Wirtgen, its biggest-ever purchase.

Google told publishers it will give them at least six months to prepare for a new Chrome ad-blocking tool.

(END) Dow Jones Newswires

June 02, 2017 02:47 ET (06:47 GMT)