Bhinneka News Online: Breaking business news: Upbeat U.S. growth revision drives Wall Street higher

Wednesday, 30 August 2017

Breaking business news: Upbeat U.S. growth revision drives Wall Street higher

Click to View in Browser

Wednesday, August 30, 2017

Upbeat U.S. growth revision drives Wall Street higher

NEW YORK (Reuters) - U.S. stocks rose on Wednesday after stronger-than-expected U.S. economic growth outweighed concerns about escalating tensions between the United States and North Korea and uncertainty in the aftermath of Hurricane Harvey.

U.S. second-quarter GDP growth revised up, fastest in over two years

WASHINGTON (Reuters) - The U.S. economy grew faster than initially thought in the second quarter, notching its quickest pace in more than two years, and there are signs that the momentum was sustained at the start of the third quarter.

New Uber CEO promises change, sees IPO in 18-36 months

SAN FRANCISCO (Reuters) - Uber Technologies Inc's [UBER.UL] new Chief Executive Dara Khosrowshahi told employees on Wednesday the ride-services company would change its culture and could go public in 18 to 36 months.

After the flood, Fed likely to see little change in economy, policy course

WASHINGTON (Reuters) - The economic fallout from Hurricane Harvey will make the Federal Reserve's job more difficult when it meets in three weeks, but U.S. central bankers have looked past major storms before with little change in monetary policy and are likely to do the same this time.

Fed's Powell says new rules for bank directors don't lower the bar

CHICAGO (Reuters) - Federal Reserve Governor Jerome Powell on Wednesday delivered a robust defense of new regulations for bank directors, saying they would streamline the role directors play in the day-to-day oversight of their institutions, but don't weaken their hand.

Delaware judge hands ex-Uber CEO a victory in lawsuit by Benchmark

GEORGETOWN, Del./SAN FRANCISCO (Reuters) - A Delaware judge on Wednesday stayed a lawsuit brought by Uber Technologies Inc [UBER.UL] investor Benchmark Capital against ousted Chief Executive Officer Travis Kalanick, handing the embattled executive a victory.

Home Capital's Buffett plan opposed by shareholder proxy ISS

TORONTO (Reuters) - Home Capital Group Inc could face a revolt over U.S. billionaire Warren Buffett's plan to increase his stake in the business after proxy advisory firm Institutional Shareholder Services (ISS) recommended shareholders vote against it.

Bain adds Apple for last-minute $18 billion Toshiba chip unit bid: sources

TOKYO (Reuters) - A consortium led by Bain Capital has made a revised last-ditch offer for Toshiba Corp's chip unit worth about $18 billion, bringing in Apple Inc to help bolster its bid, sources with direct knowledge of the matter said.

Ford looks at self-driving systems for commercial trucks: executive

DETROIT (Reuters) - Ford Motor Co is considering deploying self-driving vehicle technology in larger commercial vehicles and is working with multiple partners to put its autonomous vehicles on the road, a senior Ford executive told Reuters on Tuesday.

Alexa allies with Cortana to take on Google Assistant, Siri

(Reuters) - Amazon.com Inc and Microsoft Corp have joined forces to let their voice-controlled virtual assistants talk to each other, offering users the ability to seamlessly tap into work, their homes and shop online.