Wednesday 31 October 2018

Wall Street ends last day of haunted October in the black

Reuters.com Newsletter

Wall Street ends last day of haunted October in the black

U.S. stocks rebounded for a second day on Wednesday as investors snapped up beaten-down technology and internet favorites and strong company results lifted spirits even as the S&P 500 closed out its worst month in seven years.

VW and Ford in talks on self-driving and electric vehicles: source

Volkswagen AG and Ford Motor Co are in "exploratory talks" to jointly develop self-driving and electric vehicles in a far-reaching strategic alliance meant to save the companies billions of dollars, according to a person familiar with the matter.

Federal Reserve unveils proposal to ease regulations for larger banks

The Federal Reserve said on Wednesday it wants to ease regulations for U.S. lenders with less than $700 billion in assets, a way to lessen the burden on big commercial lenders that do not have volatile Wall Street businesses.

Robust earnings boost equity markets after brutal month

Robust corporate results helped world stock markets surge on Wednesday, bringing some relief to jittery investors after a brutal October sank equities with one of their worst drops since the financial crisis 10 years ago.

Birthday blues for bitcoin as investors face year-on-year loss

Bitcoin was heading towards a year-on-year loss on Wednesday, its 10th birthday, the first loss since last year's bull market, when the original and biggest digital coin muscled its way to worldwide attention with months of frenzied buying.

Hyundai, Kia Motors to develop new solar charging tech for vehicles

Hyundai Motor Co and its affiliate Kia Motors Corp are planning to launch a solar charging technology for some Hyundai vehicles to meet global emission regulation targets, the South Korean automakers said on Wednesday.

Countering global protectionism, Pacific trade pact nears takeoff

A landmark 11-country deal that will slash tariffs across much of the Asia-Pacific region will come into force at the end of December, New Zealand said on Wednesday, a rare bright spot for global commerce as the U.S.-China trade war intensifies.

Musk shakes up SpaceX in race to make satellite launch window: sources

SpaceX Chief Executive Officer Elon Musk flew to the Seattle area in June for meetings with engineers leading a satellite launch project crucial to his space company's growth.

GM offers buyouts to cut costs after strong quarterly profit

General Motors Co on Wednesday stepped up efforts to cut costs in response to tariff and market pressures, even as it reported third-quarter profit that blew past Wall Street expectations.

U.S. Supreme Court divided over Google privacy settlement

U.S. Supreme Court justices, in an internet privacy case involving Google, disagreed on Wednesday over whether to rein in a form of settlement in class action lawsuits that awards money to charities and other third parties instead of to people affected by the alleged wrongdoing.

Airbus says tougher to meet jet delivery goal after snags

European planemaker Airbus softened its key target for jet deliveries on Wednesday and warned that reaching it would be a "greater stretch" after a sequence of industrial problems.

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