Reuters Business Today: March 1, 2017

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U.S. consumer spending slows; inflation pushes higher WASHINGTON, (Reuters) - U.S. consumer spending rose less than expected in January as the largest monthly increase in inflation in four years eroded households' purchasing power, pointing to moderate economic growth in the first quarter.

Futures rise after Trump speech; banks up on rate talk (Reuters) - U.S. stock index futures were higher on Wednesday as investors assessed President Donald Trump's speech, while bank stocks rose on increased possibility of an interest rate hike this month.

Snap to price long-awaited IPO on Wednesday amid signs of brisk demand (Reuters) - Snap Inc, owner of popular messaging app Snapchat, will price its initial public offering after the U.S. stock market closes on Wednesday in the most eagerly awaited technology IPO since Chinese e-commerce giant Alibaba went public in 2014.

Generic drugmaker Mylan's profit benefits from Meda buy (Reuters) - Generic drugmaker Mylan NV reported better-than-expected quarterly profit and revenue on Wednesday, helped by strong demand for drugs it acquired through its purchase of Sweden's Meda last year.

Lowe's forecasts 2017 sales ahead of estimates; shares up (Reuters) - Lowe's Cos Inc forecast 2017 sales ahead of analysts' estimates and reported better-than-expected quarterly comparable-store sales as consumers continued to spruce up their homes or buy new ones.

Best Buy posts unexpected drop in same-store sales, shares dip (Reuters) - Best Buy Co Inc on Wednesday reported an unexpected drop in same-store sales for the holiday quarter, the latest example of an electronics retailer struggling with waning demand and fierce competition from online stores.

Dollar Tree's profit, sales beat estimates (Reuters) - Dollar Tree Inc , the biggest U.S. dollar-store chain, reported better-than-expected quarterly profit and sales on Wednesday, helped by lower costs and higher customer spending in its stores.

Toshiba asks law firm to advise on potential Westinghouse bankruptcy cost: sources TOKYO (Reuters) - Toshiba Corp has asked a Japanese law firm to help estimate the potential financial impact if it decides its U.S. nuclear unit Westinghouse should file for Chapter 11 protection from creditors, sources with knowledge of the matter said.

UK PM May says government is talking to Ford on automotive sector LONDON (Reuters) - Prime Minister Theresa May said on Wednesday her government would hold regular talks with Ford to find ways to ensure its engine plant in Wales remains part of the car producer's "success" in Britain after leaving the European Union.

Taiwan's Foxconn 'definitely bidding' for Toshiba chip business HONG KONG (Reuters) - Taiwan's Foxconn , the world's largest contract electronics maker, is "definitely bidding" for the chip business of Japan's Toshiba Corp and is "very confident" it can buy into it, company founder Terry Gou said on Wednesday.