Friday 26 October 2018

'Fortnite' creator Epic Games raises $1.25 bln from KKR, others

Reuters.com Newsletter

'Fortnite' creator Epic Games raises $1.25 bln from KKR, others

Epic Games, the creator of video game sensation "Fortnite", said on Friday it received $1.25 billion in funding from investors, including KKR & Co Inc , Iconiq Capital and Smash Ventures.

Wall Street slides as tech, internet stocks tumble

U.S. stocks sold off further on Friday and the S&P 500 flirted with correction territory as disappointing results punished technology and internet shares.

Tesla says has not received subpoena on Model 3 production

Tesla Inc has not received a U.S. subpoena related to its Model 3 production forecasts, the electric carmaker said on Friday, following a report that it faced a deepening criminal probe about the projections.

GM wants Trump administration to back national electric vehicle program

General Motors Co said on Friday it wants the Trump administration to back a nationwide program to boost sales of zero emission vehicles like electric cars, even as the government has proposed ending California's ability to require more clean vehicles.

Microsoft overtakes Amazon as second most valuable U.S. company

Microsoft Corp regained its spot as the second most valuable U.S. company on Friday after a disappointing quarterly report from Amazon.com wiped $65 billion off the online retailer's market capitalization.

Equities' slide sends bonds, gold higher, dents greenback

Stock markets around the world fell on Friday on track for the longest weekly losing streak since 2013 while U.S. Treasury prices rose along with demand for safer bets as better than expected U.S. economic data did little to assuage anxiety over disappointing corporate profits and trade wars.

Brazil will leave fate of Boeing-Embraer deal to next president

Brazil will leave a decision on whether to approve the sale of a controlling stake in planemaker Embraer SA's commercial jet business to Boeing Co to the next government, Defense Minister Joaquim Silva e Luna told Reuters on Friday.

Weak Amazon, Alphabet results ignite growth worries

Shares of Amazon.com Inc dropped by the most in four years on Friday after its outlook for holiday season sales missed targets, fanning concerns that Wall Street's tech darlings are finally starting to face stronger competition.

U.S. economic growth slows slightly in third quarter; outlook less upbeat

The U.S. economy slowed less than expected in the third quarter as a tariff-related drop in soybean exports was partially offset by the strongest consumer spending in nearly four years, keeping growth on track to hit the Trump administration's 3 percent target this year.

Wells Fargo hit with lawsuit over robocalls to wrong numbers

A proposed class action lawsuit in San Francisco federal court accuses Wells Fargo of making tens of thousands of automatically dialed, or "robo," calls to cell phones without consumers' consent.

Global oil pricing worries hit U.S. energy shares as earnings loom

Worries over global oil pricing and pipeline constraints are hanging over the energy sector as U.S. companies begin to report quarterly results, with many producers' shares trading lower on the year.

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