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TOP STORIES

Volkswagen sentenced to three-years' probation, oversight

DETROIT - Volkswagen AG is sentenced to three years'
probation and independent oversight for the German automaker's
diesel emissions scandal as part of a $4.3 billion settlement
announced in January. (VOLKSWAGEN-EMISSIONS/ (UPDATE 3), by Nick
Carey, 430 words)

GE shares fall on industrial business worry though profit
beats

General Electric Co reports quarterly sales and adjusted
earnings that beat analysts estimates, but its shares fall on
concerns about some of its industrial businesses. (GE-RESULTS/
(UPDATE 3), moved, by Alwyn Scott, 380 words)

Trump plans review of Obama-era rules on corporate
inversions

WASHINGTON - President Trump on Friday will order the U.S.
Treasury Department to review Obama-era rules written to
discourage U.S. companies from moving their headquarters
overseas to cut their tax bills, Treasury Secretary Steven
Mnuchin says. (USA-TAX/MNUCHIN (UPDATE 1), moved, 220 words)

STEEL

Is China too tough a steel beast for Trump to tame?

MANILA/BEIJING - U.S. President Donald Trump's first shot
across China's bow over its steel exports, escalating a
years-long brawl over trade between the world's top two
economies, may not pull up Beijing. (USA-TRUMP/STEEL-CHINA
(ANALYSIS, PIX, GRAPHIC), moved, by Manolo Serapio Jr and Muyu
Xu, 810 words)

South Korea to raise issue of U.S. steel import restrictions
at WTO

SEOUL - South Korea plans to raise the issue of U.S.
restrictions on steel imports at World Trade Organization
committee meetings next week, after President Trump launched a
trade probe against China and other exporters of cheap steel,
raising the possibility of new U.S. tariffs.
(USA-TRUMP/STEEL-SKOREA (UPDATE 4), moved, by Hyunjoo Jin and
Jane Chung, 370 words)

Worldsteel raises forecast for 2017 global steel demand
growth

LONDON - Global steel demand will grow more than previously
forecast in 2017 because of a recovery in developed economies
and accelerating growth in emerging and developing markets,
especially Russia, Brazil and India, an industry body says.
(STEEL-DEMAND/ (UPDATE 1), moved, by Maytaal Angel, 320 words)

STOCKS

Wall St slips as investors eye French election

Wall Street edges lower as investors hold off from making
risky bets ahead of the first round of the closely contested
French presidential election. (USA-STOCKS/ (UPDATE 4), updated
throughout the day, 480 words)

+ See also:

- GLOBAL-MARKETS/ (WRAPUP 6, GRAPHICS), updated throughout
the day, 470 words

ENERGY

OPEC panel recommends 6-month extension of oil output cuts -
source

LONDON - An OPEC and non-OPEC technical committee recommend
that producers extend a global deal to cut oil supplies for
another six months from June, a source says, in an effort to
clear a glut of crude that has weighed on prices. (OPEC-OIL/
(UPDATE 1), moved, 320 words)

+ See also:

- OIL-SUPPLIES/OPEC (REPEAT, GRAPHIC), moved, by Henning
Gloystein and Libby George, 710 words

Oil dives, U.S. crude below $50 for first time in 2 weeks

NEW YORK - Oil prices tumble, on track for the biggest
weekly drop in a month, on renewed concerns that increasing U.S.
production and high inventories will thwart OPEC's attempts to
reduce the global crude glut. (GLOBAL-OIL/ (UPDATE 6), updated
throughout the day, 390 words)

COMPANIES

High-stakes vote on Wells Fargo board also tests proxy
adviser ISS

A high-stakes shareholder vote at Wells Fargo & Co next week
will determine whether the bank has done enough to retain
investor confidence after its phony-account scandal, and whether
a leading proxy adviser wields enough clout to help oust most of
its board. (WELLS FARGO-ACCOUNTS/PROXIES (PREVIEW), moved, by
Ross Kerber and Dan Freed, 950 words)

+ See also:

- WELLS FARGO-ACCOUNTS/SETTLEMENT, moved, 150 words

Honeywell profit beats as aerospace, energy businesses
deliver

Diversified U.S. manufacturer Honeywell International Inc
reported quarterly profit ahead of analysts' estimates, as sales
at its aerospace and energy businesses were higher than the
company's forecast. (HONEYWELL INTL-RESULTS/ (UPDATE 2), moved,
360 words)

Schlumberger expects reactivation costs to squeeze margins

Oil services provider Schlumberger NV warned on Friday that
margins will remain under pressure because of the costs of
bringing back idled equipment to meet rising demand from North
American shale producers after a two-year lull.
(SCHLUMBERGER-RESULTS/ (UPDATE 3), moved, by Arathy S Nair and
Swetha Gopinath, 390 words)

Struggling apparel retailer Bebe to shut all stores

Apparel retailer Bebe Stores Inc will close all of its
stores by the end of May, barely a month after announcing it was
exploring strategic alternatives following four years of losses.
(BEBE STORES-RESTRUCTURING/ (UPDATE 3), moved, by Sruthi
Ramakrishnan, 360 words)

ALSO IN THE NEWS

U.S. retailers bet on Congress over Bolivia to thwart Trump
border tax issue

CHICAGO - Target Corp, Wal-Mart Stores Inc and other
retailers are shelving considerations to move supply bases
closer to the United States in the face of a possible border
tax, banking instead on killing support for the tax idea in
Congress. (USA-RETAIL/BORDERTAX (GRAPHIC), moved, by Nandita
Bose, 930 words)

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