Business News

Merger Monday

Stocks are lower this morning. With three trading days left in September the S&P 500 has seen a 2% drop for the month.  Avoiding a government shutdown and Friday's monthly employment report are major market drivers this week. (CNBC)
Asian stocks were mixed last night, after Chinese industrial profits declined 8.8% year-over-year in August, their sharpest drop since 2011, adding to concerns about the world's second-largest economy. (CNBC)
Energy Transfer Equity will acquire The Williams Companies in a business combination valued at approximately $37.7 billion, including the assumption of debt and other liabilities. (CNBC)
Royal Dutch Shell is ending exploration in the Arctic waters off Alaska after failing to discover a sufficient amount of crude. The oil giant may take a charge of up to $4.1 billion as a result. (FT)
Alcoa says it will split into two publicly-traded companies, citing its legacy aluminum operations and higher-value auto businesses were diverging and no longer compatible. (Reuters)

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