Bhinneka News Online: Daily Investor Update: Dollar rally falters, global stocks rise with taxes in focus

Thursday 28 September 2017

Daily Investor Update: Dollar rally falters, global stocks rise with taxes in focus

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Thursday, September 28, 2017

Dollar rally falters, global stocks rise with taxes in focus

NEW YORK (Reuters) - The U.S. dollar weakened on Thursday after a recent rally while stocks globally rose modestly as investors digested U.S. economic data and prospects for a U.S. tax reform plan proposed by President Donald Trump.

S&P ekes out record on healthcare gains, tax plan hopes

(Reuters) - Wall Street edged higher on Thursday, as the S&P 500 eked out a record on gains in McDonald's and healthcare names, while investors continued to hope President Donald Trump will be able to make progress on tax reform.

French PM says would closely watch any attempt to change L'Oreal ownership

PARIS (Reuters) - France's prime minister said on Thursday he would look very carefully at any attempted ownership change at L'Oreal especially if an international investor sought to buy the world's biggest cosmetics firm.

Carnival business disrupted but CEO sees Caribbean rebound by winter

(Reuters) - Carnival Corp's chief executive said on Thursday damage from recent devastating storms in Puerto Rico and the Caribbean will temporarily disrupt the cruise operator's business, but a robust holiday season is still expected as the region likely recovers by Christmas.

Nomura, RBS lose bid to overturn $839 million mortgage bond award

NEW YORK (Reuters) - Nomura Holdings Inc and Royal Bank of Scotland Group Plc lost a U.S. court appeal on Thursday to overturn an order requiring them to pay $839 million for making false statements while selling mortgage-backed securities to Fannie Mae and Freddie Mac.

Kellogg's CEO Bryant steps down, Nature's Bounty exec to take over

(Reuters) - Kellogg Co replaced chief executive John Bryant with food industry veteran Steven Cahillane on Thursday as the world's largest cereal maker continues efforts to halt two-and-a-half years of declining sales.

Wealthy financiers could gain from Trump's proposed tax cut for small businesses

WASHINGTON (Reuters) - High-income Wall Street financiers could be unintended winners from a section of U.S. President Donald Trump's tax-cut plan that is meant to help mostly small, "mom-and-pop" businesses.

Chevron taps Mike Wirth to be next CEO as Watson retires

HOUSTON (Reuters) - Chevron Corp Vice Chairman Mike Wirth will become chief executive next February, replacing the retiring John Watson, the oil and natural gas producer said on Thursday.

Typical U.S. family earning $100,000 to get $1,000 tax cut under Trump plan: aide

WASHINGTON (Reuters) - A typical U.S. family with two children earning $100,000 a year can expect a tax cut of $1,000 under President Donald Trump's proposed tax overhaul, White House economic adviser Gary Cohn said on Thursday.

U.S. exchange withdraws SEC request to list bitcoin fund

(Reuters) - An effort to allow investors to trade digital currencies as easily as stocks stumbled when a U.S. exchange withdrew its application for government approval to list a bitcoin fund.