Wednesday 20 June 2018

Global stocks gain after sell-off; yields up on comments by Fed's Powell

Global stocks gain after sell-off; yields up on comments by Fed's Powell

NEW YORK (Reuters) - Stocks on world markets edged higher on Wednesday, recovering from a recent sell-off on rapidly escalating China-U.S. trade tensions, while Treasury yields rose after the Federal Reserve chairman said the U.S. central bank should continue with a gradual pace of interest rate increases.

Nasdaq hits record high; Dow remains under pressure

(Reuters) - The Nasdaq touched a record on Wednesday, lifted by a climb in large-cap tech and consumer discretionary names, while the Dow and S&P 500 were hemmed in as concerns over an escalation in the U.S.-China trade spat simmered.

What trade war? FAANGs scale new highs

(Reuters) - Four of the five so-called FAANG stocks – Facebook, Alphabet, Amazon and Netflix – surged to all-time highs on Wednesday, with only Apple spoiling a perfect scorecard.

U.S. court revives Dr Pepper challenge to Coca-Cola 'zero' drinks

(Reuters) - A U.S. appeals court on Wednesday revived Dr Pepper Snapple Group Inc's challenge to Coca-Cola Co's effort to register trademarks for soft drinks and sports drinks whose names contain the word "zero."

U.S. lawmakers want Google to reconsider links to China's Huawei

WASHINGTON (Reuters) - A group of Republican and Democratic U.S. lawmakers asked Alphabet Inc's Google on Wednesday to reconsider its work with Chinese telecommunications firm Huawei Technologies Co Ltd [HWT.UL], which they described as a security threat.

U.S. Commerce Dept probing 'profiteering' in steel after tariffs: Ross

WASHINGTON (Reuters) - The United States is launching an investigation of recent steel price hikes to determine whether some market participants are "illegitimately profiteering" from new U.S. tariffs, Commerce Secretary Wilbur Ross said on Wednesday

Disney hikes bid for Fox assets to $71.3 billion, tops Comcast

(Reuters) - Walt Disney Co raised its bid for the bulk of Twenty-First Century Fox Inc's film and television assets to $71.3 billion on Wednesday, sweetening its deal with cash as it looks to upend Comcast Corp's $65 billion offer.

Banks to fatten wallets as Disney, Comcast compete for Fox

NEW YORK (LPC) - Banks arranging nearly $36 billion of loans to support Walt Disney Co's sweetened $71.3 billion bid to buy Twenty-First Century Fox Inc's media assets stand to pocket around $200 million in fees, boosting profits from an increasingly hot market for mergers and acquisitions (M&A).

London court chides FCA as it rejects former UBS trader's appeal

LONDON (Reuters) - A London court on Wednesday described as "troubling" a case brought by the Financial Conduct Authority (FCA) against a former junior UBS trader for alleged Libor interest rate rigging.

Amazon, Berkshire, JPMorgan name Atul Gawande CEO of healthcare venture

NEW YORK (Reuters) - Well-regarded surgeon and author Atul Gawande, a critic of his industry's medical practices, will lead the new company being formed by Amazon.com Inc, Berkshire Hathaway Inc and JPMorgan Chase & Co that aims to cut U.S. employee healthcare costs, the companies said on Wednesday.

Related Videos

Siemens UK boss says there needs to be clarity on how post-Brexit trade will work

Breakingviews TV: Doc and awe

Looking for more?

Visit our business section for more deals, markets, legal and finance news.

Read more