By THE NEW YORK TIMES
May 22, 2017
We’re following major developments in the markets throughout the day. Check below for the latest updates.
What to Watch For: Fed Speakers, a Chemicals Deal and Twitter’s Annual Meeting
• The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, and the Federal Reserve System governor Lael Brainard will deliver speeches in Minneapolis, while Patrick T. Harker, president of the Philadelphia Fed, will speak in Philadelphia.
• The Huntsman Corporation, which gained prominence making containers for McDonald’s Big Macs, has agreed to merge with Clariant of Switzerland in a deal that would create a chemicals industry giant.
• Twitter will hold its annual meeting in San Francisco.
• Finance ministers from the 19 eurozone countries will meet in Brussels to discuss Greece’s bailout program. Greece passed wide-ranging changes last week aimed at clearing the way for it to receive a new tranche of funds.
• Don’t forget to read the DealBook Morning Agenda.
R.B.S. Trial Is Delayed
The start of a trial in a shareholder lawsuit against the Royal Bank of Scotland over a rights issue before its near collapse in 2008 has been delayed.
The litigation relates to the bank’s raising 12 billion pounds, or about $16 billion at current exchange rates, weeks before it was rescued by the British government. The bank remains 72 percent owned by the government.
On Monday, lawyers for the bank and for the investors asked that the trial in a London court be delayed a day, so they could continue settlement talks.
R.B.S. has already settled 87 percent, based on value, of the claims against it.
But some shareholders have been holding out, hoping to push Fred Goodwin, the bank’s former chief executive, to testify at trial on June 8 as scheduled.
Shares of R.B.S. rose less than 1 percent in midmorning trading in London on Monday. — CHAD BRAY