Monday 31 July 2017

Reuters Business Today: July 31, 2017

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Monday, July 31, 2017
Discovery aims for content clout with Scripps Network bid
NEW YORK (Reuters) - Discovery Communications Inc is acquiring Scripps Networks Interactive Inc for $11.9 billion in a deal expected to boost the company's negotiating leverage as it seeks new audiences.
Dow hits record high while tech retreats
(Reuters) - The Dow Jones Industrial Average hit a record closing high on Monday, helped by Boeing, while selling in Facebook, Alphabet and other technology companies checked the S&P 500 and pulled the Nasdaq lower.
Tesla drops after Musk warns of 'manufacturing hell'
SAN FRANCISCO (Reuters) - Shares of Tesla dropped 3.5 percent on Monday after Chief Executive Elon Musk warned that the electric carmaker would face "manufacturing hell" as it ramps up production of its new mass-market Model 3 sedan.
Wisconsin to consider $3 billion Foxconn incentive package
WASHINGTON (Reuters) - The Wisconsin governor ordered the state legislature back into special session on Tuesday to consider an incentive package that would award Taiwanese electronics manufacturer Foxconn $3 billion over 15 years in mostly cash incentives and waive several state environmental reviews.
Icahn's biofuel bet faces significant headwinds
NEW YORK (Reuters) - Billionaire investor Carl Icahn's multimillion-dollar bet against U.S. biofuel prices is looking increasingly risky in the wake of a Friday court ruling that will likely boost the cost of complying with the program.
U.S. pending home sales rise; Midwest factory activity slows
WASHINGTON (Reuters) - Contracts to buy previously owned U.S. homes rebounded in June after three straight monthly declines, but the housing market remained constrained by a shortage of properties available for sale.
Lack of value fund interest could be another bad omen for Chipotle
NEW YORK (Reuters) - More well-publicized incidents at Chipotle Mexican Grill Inc restaurants have pushed the shares down 26 percent over the last three months, but the burrito chain is facing a more subtle threat that could weigh on the stock: it is losing favor with growth fund managers and yet remains too expensive to attract value-oriented funds in their place.
Lawsuit says Wells Fargo auto insurance charges were a fraud
(Reuters) - A new lawsuit accuses Wells Fargo & Co of racketeering violations and fraud after the bank admitted to charging several hundred thousand borrowers for auto insurance they did not ask for or need, causing many delinquencies.
HBO says data hacked, media says 'Game of Thrones' targeted
NEW YORK (Reuters) - U.S. cable channel HBO said on Monday that hackers had stolen upcoming programming, and Entertainment Weekly reported that the theft included a script for an unaired episode of the hit fantasy show "Game of Thrones."
Snap's shares pare losses in brisk trading as lockup ends
NEW YORK (Reuters) - Shares of Snap Inc , owner of the Snapchat messaging app, clawed back much of its earlier losses in volatile trading on Monday, after dropping to a new low as the expiration of a share lockup allowed early investors to sell.
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