Thursday 23 August 2018

Daily Investor Update: S&P, Dow move lower as trade worries weigh

Reuters.com Newsletter

S&P, Dow move lower as trade worries weigh

The S&P 500 and Dow Industrials moved lower on Thursday as trade-sensitive stocks were hit by a fresh round of tariffs in the ongoing trade dispute between the United States and China.

U.S.-China talks on trade war resume as new tariffs kick in

The United States and China escalated their acrimonious trade war on Thursday, implementing punitive 25 percent tariffs on $16 billion worth of each other's goods, even as mid-level officials from both sides resumed talks in Washington.

Fidelity fund votes backed Tesla, potential sign of more support

Funds run by Fidelity Investments sided with Tesla Inc management on director votes and other controversial items this spring, filings showed on Thursday, and experts said that could indicate further support for Tesla CEO Elon Musk as he looks to take the company private.

British Airways, Air France halting flights to Iran from next month

British Airways and Air France said on Thursday they would halt flights to Iran from September for business reasons, months after U.S. President Donald Trump announced he would re-impose sanctions on Tehran.

JPMorgan undercuts discount brokerages on trades

JPMorgan Chase & Co, in a bid to lure customers from the discount brokerage industry, said on Tuesday it will begin offering free stock trades for self-managed accounts through its Chase mobile banking app starting next week.

No-deal Brexit will bring tangle of red tape, Britain warns companies

Britain on Thursday told companies trading with the European Union they would face a tangle of red tape, possible border delays and more costly credit card payments if the government fails to negotiate an exit deal before Britain leaves the bloc.

Alibaba revenue beats, but investments prolong margin squeeze

Alibaba Group Holding Ltd , China's biggest e-commerce firm, topped first-quarter revenue estimates on Thursday, but said investments in its food delivery business would continue to weigh on profits.

Trade tensions may power down China's robot industry

At a trade show in southern Beijing, children and parents crowd around a group of pink and blue dancing robots that resemble toddler-sized Power Rangers.

Britons living in EU could lose access to UK bank services in no-deal Brexit

Britons living in the European Union could lose access to their UK bank account services and businesses on the continent could be cut off from investment banks in London if there is a no-deal Brexit, the British government said on Thursday.

Honeywell raises 2018 profit forecast, to get spin-off dividends

Airplane parts maker Honeywell International Inc raised its full-year profit forecast for the fourth time this year on Thursday and said it would receive $3 billion in one-time dividends from units it plans to spin off as part of a company reorganization.

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