Bhinneka News Online: Reuters Daily Investor Update: May 11, 2017

Thursday, 11 May 2017

Reuters Daily Investor Update: May 11, 2017

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Thursday, May 11, 2017

Macy's weak quarterly results hit department store shares

(Reuters) - U.S. department store operator Macy's Inc reported a much bigger-than-expected drop in quarterly profit and sales, continuing its uphill struggle to attract customers amid a slump in demand for apparel and the shift toward shopping online.

Commerce's Ross: China's plans threaten U.S. semiconductor dominance

WASHINGTON (Reuters) - U.S. Commerce Secretary Wilbur Ross sees the U.S. semiconductor industry as still dominant globally but said he is worried that it will be threatened by China's planned investment binge to build up its own chipmaking industry.

Setback for Uber as European court advised to treat it as transport firm

BRUSSELS/LUXEMBOURG (Reuters) - Uber faces the biggest challenge yet to its European roll-out after the region's top court was advised to rule that the U.S. ride-hailing firm is actually a transport service not an app.

EU court advised to treat Uber as a transport service - what now?

BRUSSELS/FRANKFURT (Reuters) - An adviser to the European Union's top court said ride-hailing app Uber [UBER.UL] should be considered a transport service on Thursday, potentially exposing it to more local licensing regulations.

Wall St. on track for worst day in one month

(Reuters) - U.S. stocks were on track to record their steepest fall in nearly a month on Thursday amid broad declines, led by retail and bank stocks.

It's not what you say, it's how quickly you trademark it

(Reuters) - Ideas were flying at a brainstorming session to create a slogan for North Carolina county Democrats when Catherine Cloud blurted out a phrase that made a colleague's eyes light up: "Because this is America."

Global stocks, U.S. dollar drop amid political uncertainty

NEW YORK (Reuters) - U.S. and European stocks fell on Thursday, along with the U.S. dollar, while U.S. Treasury yields reversed earlier declines, as political uncertainty in the United States sent investors in search of safer investments like gold and the Japanese yen.

Wells Fargo doubles cost-cut goal in response to Wall Street pressure

(Reuters) - Wells Fargo & Co doubled its cost-cutting target after seeing expenses soar in the aftermath of a sales scandal that the third-largest U.S. bank is still trying to recover from.

Volkswagen U.S. unit names compliance officer after diesel scandal

(Reuters) - Volkswagen AG's U.S. unit said Thursday it has named a KPMG LLP director, Stephanie C. Davis, as its chief compliance officer after it was sentenced in April in its diesel emissions scandal.

Goldman Sachs to launch new 'dark pool' for stocks on Friday

NEW YORK (Reuters) - Goldman Sachs Group Inc will launch a new private stock-trading venue, known as a "dark pool," on Friday, that is run by exchange operator Nasdaq Inc , according to a note to clients obtained by Reuters.