Wall Street Journal (U.S. News)

• Exxon Profit Earnings Point to Industry Recovery
The world’s biggest oil companies are seeing their highest profits in more than a year, an early signal that they may be turning a corner on their long path to recovery.

• Appeals Court Affirms Decision Blocking Anthem-Cigna Merger
A federal appeals court on Friday declined to allow health insurer Anthem Inc. to acquire Cigna Corp., affirming a trial judge’s recent ruling that blocked the deal on antitrust grounds.

• Truck, SUV Sales Power GM's Profit
GM’s first-quarter net income rose 34%, as strong sales of pickup trucks and SUVs in the U.S. continue to offset softening in the car market and troubles in regions like South America.

• Airlines Will Keep Overbooking, Even After United Incident
In wake of the fallout from the passenger incident on United Airlines, Southwest Airlines is planning to stop overbooking flights by the end of June. But don’t expect other airlines to follow suit or for the practice to go away.

• Didi, China's Uber, Raises $5.5 Billion
China’s Didi Chuxing Technology said it raised $5.5 billion in a new funding round, valuing the ride-hailing company at more than $50 billion.

• GDP Growth Slowed as Spending by Consumers Lagged
The U.S. economy’s output grew at the slowest pace in three years during the first quarter, underscoring the challenges facing the Trump administration as it seeks to rev up growth.

• Consumer Sentiment Remains High Despite GDP Report
Consumer sentiment about the U.S. economy remained high in April, even as the Commerce Department said U.S. economic output increased at the slowest pace in three years.

• Next Tax Battle: Trump's Bid to Ax a Favorite Blue State Deduction
The White House blueprint would kill an expensive break relating to state and local taxes, prompting a bipartisan backlash from lawmakers in New York and other high-tax states.

• Congress Passes Stopgap Spending Bill to Avoid Government Shutdown
Congress on Friday approved legislation to extend funding for the federal government by one week, avoiding a partial government shutdown on Saturday.

• U.S. Durable Orders Edged Up In March
Demand for long-lasting factory goods improved modestly in March, a sign that the manufacturing sector is healing only slowly as business investment remains restrained.

• Don't Believe the Hype: Fyre Festival Flops in the Bahamas
The much-hyped Fyre Festival has gone up in flames—with organizers abruptly canceling the high-end concert in the Bahamas, where stranded attendees were trying desperately to get home.

• Time Inc. Rebuffs Suitors and Decides to Go It Alone
Time Inc., the storied magazine publisher turned struggling online media company, has decided not to sell itself despite generating interest from various parties.

• Alphabet, Amazon Extend Earnings Boom
Amazon and Google parent Alphabet reported booming quarterly sales and profits, showing that the tech giants continue to extend their dominance and shuck off concerns that might have damped growth.

• Economic Gauges Rise Under Trump, but Some Question Their Longevity
Economic indicators and the stock market climbed even before Donald Trump was inaugurated, boosted by his promises of tax cuts, regulatory relief and infrastructure spending. But with scant progress on those fronts, some question the endurance of the surge.

• Congress Seeks IRS Comment After College Aid Tool Breach
A group from a House committee is concerned the IRS has failed to protect taxpayers’ online data following a security breach that has affected financial aid applications.

• Elon Musk's Latest Dream: Underground Roadways
The chef executive of Tesla Inc. touted ambitious plans Friday, including an underground roadway accessed by elevators, more giant battery factories and an electric semi truck.

• Yahoo CEO Marissa Mayer Earned $27.4 Million Last Year
Yahoo Inc. Chief Executive Marissa Mayer’s compensation totaled $27.4 million last year, a package mostly unaffected by a deal to sell Yahoo’s core business to Verizon Communications Inc. or two large security breaches that nearly scuttled the acquisition.

• SoftBank Set to Invest Over $1.5 Billion in India's Paytm
The deal will give SoftBank Group a 20% stake in Paytm’s parent company One97 Communications, marking the Japanese conglomerate’s single largest investment in an Indian tech firm.


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