(Reuters) – Wall Street ended flat on Friday as gains by Intel, real estate companies and utilities offset a drop in Facebook after the social media network disclosed a security breach. The S&P 500 lost 0.5 percent for the week, but for the third quarter it was up 7.2 percent, its best…
Month: September 2018
UK regulator to enquire if Facebook data breach has affected UK citizens
(Reuters) – The UK’s Information Commissioner’s Office said on Friday it will make enquiries with Facebook Inc (FB.O) and other overseas regulators to find out if British citizens were affected by a security breach announced by the company earlier in the day. FILE PHOTO: Silhouettes of mobile users are seen next to…
Canada, U.S. make progress in bid to save NAFTA, no deal yet: sources
OTTAWA (Reuters) – Canada and the United States on Saturday narrowed their differences in last-ditch talks to save NAFTA but there is no guarantee an agreement will be forged, two Ottawa sources said, a notion echoed by a top adviser to U.S. President Donald Trump. FILE PHOTO: The flags of Canada, Mexico…
Knorr-Bremse discloses dispute with Bosch in IPO prospectus
MUNICH (Reuters) – German brake maker Knorr-Bremse [STELLG.UL] has disclosed a contractual dispute with Robert Bosch GmbH [ROBG.UL] ahead of a stock market flotation that could raise up to 4.2 billion euros ($4.9 billion). Bosch parking deck is pictured near airport in Stuttgart, Germany, February 2, 2017. REUTERS/Michaela Rehle Knorr said Bosch,…
Musk to resign as Tesla chairman, remain as CEO in SEC settlement
WASHINGTON/SAN FRANCISCO (Reuters) – Tesla Inc and Elon Musk have agreed to pay $20 million each to financial regulators and the billionaire will step down as the company’s chairman but remain as chief executive, under a settlement that caps a tumultuous two months for the carmaker. The securities fraud agreement, disclosed by…
Point72 sexism case to be arbitrated, lawsuit is dismissed
NEW YORK (Reuters) – A female vice president at Point72 Asset Management LP will pursue her sexism claims against the hedge fund firm run by billionaire investor Steven A. Cohen before a private arbitrator and has dismissed her federal lawsuit. FILE PHOTO: Steven A. Cohen, Chairman and CEO of Point72 Asset Management,…
SEC chairman says Tesla settlement in ‘best interests’ of shareholders
WASHINGTON (Reuters) – U.S. Securities and Exchange Commission chairman Jay Clayton said in a statement on Saturday that the agency’s settlement with carmaker Tesla was in the best interests of the U.S. markets and company shareholders. FILE PHOTO: Jay Clayton, Chairman of the Securities and Exchange Commission, testifies at a Senate Banking…
Icahn, CVR lose malpractice case against Wachtell Lipton law firm
NEW YORK (Reuters) – A federal judge in Manhattan on Friday dismissed an unusual lawsuit in which billionaire investor Carl Icahn accused the law firm Wachtell, Lipton, Rosen & Katz of malpractice related to his 2012 hostile takeover of CVR Energy Inc (CVI.N). Billionaire activist-investor Carl Icahn gives an interview on FOX…
Global funds raise U.S. stock holdings to three-and-a-half-year high
LONDON (Reuters) – Global investors increased holdings of U.S. equities to their highest since May 2015 in September while reducing their exposure to emerging-market assets, where a majority believe the shake-out still has some way to go. Reuters’ monthly asset allocation poll of 54 wealth managers and chief investment officers in Europe,…
‘We’ll know in 48 hours’: Mexico sees new hope of trilateral NAFTA
WASHINGTON/MEXICO CITY (Reuters) – Mexico on Friday said the U.S. Trump administration and Canada were making serious efforts to resolve trade policy differences after days of bickering, raising hopes of saving the North American Free Trade Agreement as a trilateral pact. Mexico’s Economy Minister Ildefonso Guajardo delivers a summary of NAFTA negotiations…
Wall Street flat; Italy budget woes hit Europe, boost dollar
NEW YORK (Reuters) – The U.S. dollar rose on Friday as the euro fell on deepening worries about an Italian budget with a higher-than-expected deficit target, which also slammed European stocks. Wall Street ended flat, pulling back from early gains after Facebook disclosed a security breach. Tesla shares lost 13.9 percent after…
Google CEO will testify before U.S. House on bias accusations
WASHINGTON (Reuters) – Google Chief Executive Sundar Pichai has agreed to testify before the U.S. House Judiciary Committee later this year over Republican concerns that the company is biased against conservatives and will also attend a meeting with President Donald Trump, government officials said on Friday. Google CEO Sundar Pichai speaks on…
Courting Canada, U.S. and Mexico cancel plans to publish NAFTA texts: sources
MEXICO CITY (Reuters) – The United States and Mexico abruptly canceled plans to publish NAFTA texts on Friday, sources said, as signs of renewed efforts by Canada and Washington to settle differences raised hopes a breakthrough could be made to keep the deal trilateral. FILE PHOTO: A commercial truck with a Canada,…
GM will recall more than 3.3 million vehicles in China: market regulator
BEIJING (Reuters) – General Motors’ joint venture in China, Shanghai GM, will recall more than 3.3 million Buick, Chevrolet and Cadillac vehicles from Oct. 20 because of a defect with the suspension system, China’s market regulator said on Saturday. The GM logo is seen at the General Motors Lansing Grand River Assembly…
CBS faces New York probe tied to ex-CEO Leslie Moonves
(Reuters) – CBS Corp is facing probes by both New York city and state officials tied to sexual assault and harassment accusations of its ex-chief executive Leslie Moonves, the company revealed in a regulatory filing on Friday evening. The disclosure of the probes comes just hours after the new CBS board of…
U.S. trade judge declines to block iPhone imports
(Reuters) – A U.S. trade judge on Friday declined to block the importation of Apple Inc (AAPL.O) iPhones with chips from Intel Corp (INTC.O), handing a major defeat to Qualcomm Inc (QCOM.O) in its high-stakes legal dispute with the iPhone maker. The new Apple iPhone Xs is seen on display at the…
Tesla’s Musk may settle SEC lawsuit but ready for fight: sources
(Reuters) – Tesla Inc’s (TSLA.O) Elon Musk could settle with U.S. regulators who have sued to remove him from the electric carmaker’s leadership, but he is prepared to fight the securities fraud lawsuit against him in court, sources said on Friday as shares plunged about 14 percent. Musk, Tesla’s chairman and chief…