Update on the latest in business:

^FINANCIAL MARKETS

Stocks gain, with S&P on track for record

NEW YORK (AP) _ Stocks are higher, putting the S&P 500 on track for a record high at the beginning of a busy week of corporate earnings and economic reports.

Wall Street will get reports from 156 companies in the benchmark index this week. The company news and reports on housing, consumer confidence and hiring will give investors a clearer diagnosis of the economy's health. Investors will also closely watch the Federal Reserve's latest decision on interest rates Wednesday.

Microsoft rose after winning a Pentagon contract, and other technology companies also climbed. AT&T led broad gains for communications companies.

^BREXIT

EU grants Brexit delay to Jan. 31; UK ponders new election

BRUSSELS (AP) — The European Union has agreed to delay Brexit until Jan. 31 next year — making the concession just three days before Britain was due to become the first country ever to leave the 28-nation bloc.

After a very short meeting of diplomats in Brussels, European Council President Donald Tusk said on Twitter that the EU's 27 other countries will accept "the UK's request for a Brexit flextension until 31 January, 2020."

The decision was welcomed by politicians in the U.K. and the bloc — but not by British Prime Minister Boris Johnson, who said just weeks ago that he would "rather be dead in a ditch" than postpone the U.K.'s leaving date past Oct. 31.

^LVMH-TIFFANY

France's LVMH seeks to buy jeweler Tiffany for $14.5 billion

UNDATED (AP) _ French luxury group LVMH is making a play for the iconic blue box.

The conglomerate says it has offered to buy Tiffany & Co. for $14.5 billion in cash, sending shares in the New York jeweler soaring.

The purchase would add another household name to LVMH's plethora of upscale brands such as Christian Dior, Fendi, and Givenchy (zhee-vahn-SHEE’) as well as watchmaker Tag (HOY’-ur). It would also give LVMH a much broader foothold in the United States and broaden its offerings in jewelry.

Tiffany, which is trying to transform its brand to appeal to younger shoppers, could use a company with deep pockets to help expand its business. The New York-based luxury retail says it’s considering the offer for $120 a share, which is about $14.5 billion. The Wall Street Journal first reported on the offer over the weekend. Its shares jumped nearly 30% or $28.81, to $127.37 in early morning trading.

^AT&T-ELLIOTT MANAGEMENT

AT&T makes changes in response to activist investor push

NEW YORK (AP) — AT&T will review its portfolio for assets it can sell off, pay down debt related to its Time Warner acquisition and add two board members as part of a plan to boost results.

The moves come after criticism from hedge fund manager Elliott Management.

In September the activist disclosed a $3.2 billion investment in AT&T, roughly a 1% stake, and called for changes at the company such as selling assets and paying down debt.

AT&T Inc. says CEO Randall Stephenson will stay on through 2020. Stephenson has called conversations with Elliott Management "constructive."

^THAILAND-US-TRADE

Thailand to seek talks with US on trade privileges loss

NONTHABURI, Thailand (AP) — Thailand plans to pursue talks with the United States on a decision to end preferential trade privileges on a range of Thai exports including seafood.

The acting director-general of the Commerce Ministry's Foreign Trade Department says his office has been warning exporters that the U.S. might withdraw the duty-free status for some products and had been advised by the U.S. to expect it.

The U.S. Friday that it was suspending $1.3 billion in trade preferences for Thailand under the Generalized System of Preferences, or GSP, because of its failure to adequately protect worker rights.

^PROLOGIS-LIBERTY-ACQUISITION

Prologis to acquire Liberty Property in $12.6B stock deal

SAN FRANCISCO (AP) — Shares in Liberty Property Trust jumped 17% after the company announced it was being acquired by Prologis in a deal the commercial real estate companies are valuing at $12.6 billion including debt assumption.

The companies expect immediate cost synergies of $120 million and another $60 million annually.

As online retailers seek to shorten delivery times, demand for warehouse space in major U.S. cities is increasing. Last month, private equity firm Blackstone bought $5.9 billion in real estate assets from Colony Capital.

Prologis, based in San Francisco, plans to sell off some assets including office properties.

Shareholders of Wayne, Pennsylvania-based Liberty will receive about two-thirds of a share of Prologis for each Liberty share held. The deal, announced Sunday, is expected to close in the first quarter of 2020.

^EARNS-RESTAURANT BRANDS

Burger King, Popeye's strong in Restaurant Brands 3Q

UNDATED (AP) _ The Impossible Whopper propelled Burger King to its best third-quarter comparable sales increase in four years.

Restaurant Brands International Inc. reports a 5% increase in same-store sales at Burger King locations in the U.S. during the quarter, crediting the launch of the Impossible Whopper for the improvement.

Burger King announced in August that it would start selling the plant-based Impossible Whopper nationwide after a successful test run in seven markets. It first started selling the soy-based burgers, which are made by Impossible Foods, in April.

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