Monday 30 July 2018

Tech stocks pull down equity markets, euro gains

Reuters.com Newsletter

Tech stocks pull down equity markets, euro gains

A gauge of global equity markets fell on Monday, pulled down by a sell-off in U.S. technology heavyweights, while the dollar slipped against the euro on Monday ahead of several central bank monetary policy meetings later this week.

U.S. seeks to end criminal fraud case against bond trader Litvak

U.S. prosecutors on Monday moved to dismiss their criminal fraud case accusing former trader Jesse Litvak of lying to customers about bond prices, after two convictions of the former Jefferies managing director were overturned on appeal.

Nokia, T-Mobile US agree $3.5 billion deal, world's first big 5G award

T-Mobile US named Nokia to supply it with $3.5 billion in next-generation 5G network gear, the firms said on Monday, marking the world's largest 5G deal so far and concrete evidence of a new wireless upgrade cycle taking root.

CBS to pick outside counsel for probe after misconduct allegations against Moonves

CBS Corp's board of directors is selecting outside counsel to conduct an independent investigation, it said on Monday, following allegations of personal misconduct against CEO Leslie Moonves.

Wall St. ends lower; Nasdaq leads the decline

A broad sell-off of technology stocks pushed all three major U.S. stock indexes lower on Monday, with the Nasdaq Composite posting its third consecutive loss of more than 1 percent for the first time in three years just days after hitting a record high.

GE hires bankers to mull sale of digital assets: WSJ

General Electric Co has hired an investment bank to organize an auction for its digital assets, the Wall Street Journal reported on Monday citing people familiar with the matter.

With nimbler bikes, Harley sharpens Asia focus to revive growth

Harley-Davidson Inc is launching lightweight motorcycles in Asia and electric bikes globally in the hope of reviving demand, as it faces falling sales in the United States and the threat of trade tariffs adding to its costs.

Bitcoin slips below $8,000 as investors step away from risk

Bitcoin briefly fell below $8,000 on Monday as investors scaled back their exposure to cryptocurrenices, after a sell-off in shares of technology and internet companies spilled over into other risky assets.

Starbucks and China's Alibaba to partner on delivery: media reports

Starbucks Corp and e-commerce company Alibaba Group Holding Ltd are set to join forces on coffee delivery, according to media reports, as the coffee retailer seeks to rebound from a sales slump in the once-booming China market.

Caterpillar paints upbeat picture of global economy

Caterpillar Inc on Monday gave a promising outlook for the global economy despite ongoing trade tensions and mounting cost concerns, and the heavy equipment maker lifted its full-year earnings forecast after quarterly profits nearly doubled.

Wary of China's rise, Pompeo announces U.S. initiatives in emerging Asia

U.S. Secretary of State Mike Pompeo announced $113 million in new technology, energy and infrastructure initiatives in emerging Asia on Monday, at a time when China is pouring billions of dollars in investments into the region.

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