Wednesday 28 February 2018

Daily Investor Update: Wall Street slides late, S&P caps worst month since Jan 2016

Wall Street slides late, S&P caps worst month since Jan 2016

NEW YORK (Reuters) - U.S. stocks sold off late to end sharply lower on Wednesday, dragged down by worries over higher interest rates, and the Dow and S&P 500 capped their worst months since January 2016.

Verizon, Straight Path pay $614 million civil penalty to U.S. FCC: statement

WASHINGTON (Reuters) - Verizon Communications Inc and its Straight Path Communications Inc unit paid a $614 million civil penalty as part of a January 2017 settlement with the U.S. Federal Communications Commission, the agency said on Wednesday.

Ackman ends public battle with Herbalife, takes stake in United Technologies

(Reuters) - Six years ago, billionaire investor William Ackman wagered $1 billion that Herbalife's stock price would tumble to zero after publicly calling the nutrition company a fraud in a three-hour presentation before investors, analysts and the media.

Spotify files for direct listing of up to $1 billion

(Reuters) - Music streaming service Spotify filed for a direct listing of up to $1 billion with the U.S. Securities and Exchange Commission on Wednesday, becoming the first major company in the recent past to do so.

Dollar gains on Powell's economic outlook, stocks slip

NEW YORK (Reuters) - The dollar rose to five-week highs on Wednesday on the prospect of tighter monetary policy and an upbeat U.S. economic outlook from the Federal Reserve's new chief, while global equity markets slid on declines in Celgene Corp and China's Tencent.

White House expects 'frank exchange' on trade with Chinese official: source

WASHINGTON (Reuters) - Top aides to President Donald Trump look to push a tough line on trade in talks on Thursday with an envoy of Chinese President Xi Jinping, with a White House official saying a frank exchange of views was expected.

Exclusive: Bayer to win EU approval for $62.5 billion Monsanto deal

BRUSSELS (Reuters) - German drug and crop chemicals maker Bayer is set to win conditional European Union antitrust approval for its $62.5 billion bid for world No. 1 seed company Monsanto , two people familiar with the matter said on Wednesday.

At KFC's UK restaurants, it's not all gravy

LONDON/LOS ANGELES (Reuters) - Yum Brands Inc's KFC restaurants in the UK are serving limited menus at reopened restaurants after a chicken supply snafu with its new delivery firm, but now are suffering a gravy shortage.

Google's shopping rivals call for action from EU antitrust watchdog

BRUSSELS (Reuters) - Google competitors have called for further action by European Union antitrust regulators to ensure the Alphabet-owned firm treats rivals offering shopping services equally.

Mexico concerns about U.S. steel tariffs hang over NAFTA talks

MEXICO CITY (Reuters) - Mexico's trade minister will discuss the threat of U.S. steel import tariffs with U.S. Commerce Secretary Wilbur Ross on Wednesday, two sources said, adding to trade tensions during the latest push to renegotiate the NAFTA trade deal.

Box Inc reports 24.3 percent rise in quarterly revenue

Feb 28 (Reuters) - Box Inc reported a 24.3 percent rise in fourth-quarter revenue as the cloud storage provider signed up more businesses to its service.

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