Monday 3 December 2018

Daily Investor Update: World stocks soar, dollar dips, yuan up on China-U.S. trade war ceasefire

Reuters.com Newsletter

World stocks soar, dollar dips, yuan up on China-U.S. trade war ceasefire

A truce in the U.S.-China trade war boosted global stocks to their highest in roughly three weeks on Monday, while sending the dollar lower and the Chinese yuan and several trade-dependent currencies higher.

Qualcomm says has moved on from NXP despite China comment

U.S. chipmaker Qualcomm Inc said on Monday it was not looking to revive its abandoned $44 billion acquisition of Dutch peer NXP Semiconductors NV , a day after the White House said China would reconsider clearing a deal if it was attempted again.

Disney amends CEO Iger's pay package

Walt Disney Co said on Monday Chief Executive Officer Robert Iger has agreed to certain adjustments to his compensation package, which ties his paycheck to the company's performance, as it nears the completion of its Twenty-First Century Fox acquisition.

GM CEO will meet with senators on job cuts Wednesday

General Motors Chief Executive Mary Barra will meet with Ohio's two U.S. senators on Wednesday about the Detroit automaker's plans to idle five North American plants and cut up to 15,000 jobs.

Oil surges almost 4 percent on trade truce, expected supply cuts

Oil prices jumped nearly four percent on Monday after the United States and China agreed to a 90-day truce in a trade dispute and Canada's Alberta province ordered a production cut, while exporter group OPEC looked set to reduce supply.

U.S.-China trade truce boosts Wall Street

Wall Street's major indexes rallied on Monday following a trade truce between the United States and China, whose tensions have clouded the outlook for the stock market for much of the year.

U.S. top court signals it will buttress anti-fraud securities laws

U.S. Supreme Court justices on Monday appeared reluctant to further limit the scope of who can be held liable for violating laws that protect investors from securities fraud as they weighed an appeal by a New York investment banker who had been banned from the industry.

Nexstar to buy Tribune Media for $4.1 billion

Nexstar Media Group Inc said on Monday it agreed to buy Chicago-based peer Tribune Media Company for about $4.1 billion in cash, making it the largest regional U.S. TV station operator.

Ernst & Young CEO Weinberger to step down

Ernst & Young said on Monday that Mark Weinberger would step down on July 1, 2019 as global chairman and chief executive.

U.S. expects immediate action from China on trade commitments

The United States expects immediate action by China on trade issues after a deal reached by the countries' leaders, including lower tariffs on automobiles and measures against intellectual property theft and forced technology transfers, a White House official said on Monday.

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