Breaking business news: Nasdaq falters as investors flee tech for banks

Click to View in Browser Wednesday, November 29, 2017 Nasdaq falters as investors flee tech for banks (Reuters) - The Nasdaq posted its biggest one-day drop in more than three months on Wednesday as investors fled high-flying technology stocks and shifted to banks and other pockets of the market that could benefit from improving economic conditions, lower regulations and taxes as well as higher interest rates. U.S. third-quarter economic growth fastest in three years WASHINGTON (Reuters) - The U.S. economy grew faster than initially thought in the third quarter, notching its quickest pace in three years, buoyed by robust business spending on equipment and an accumulation of inventories. Uber lawyer says ex-CEO, board members told of letter kept from Waymo lawsuit SAN FRANCISCO (Reuters) - Uber Technologies Inc's former chief executive and some board members knew of a letter a U.S. judge has said was withheld from a high-stakes lawsuit, an attorney for the company testified on Wednesday. AT&T CEO says blackout ban shows company willing to settle DOJ fight (Reuters) - AT&T Inc's proposed seven-year ban on programming blackouts to distributors of some Time Warner Inc content shows that the company is willing to offer concessions to close its $85.4 billion bid for the programmer, AT&T's chief executive officer said on Wednesday. Bubble trouble? Bitcoin tops $11,000, but fades after sharp rally LONDON/NEW YORK (Reuters) - Bitcoin zoomed past $11,000 to hit a record high for the sixth day in a row on Wednesday after gaining more than $1,000 in just 12 hours, stoking concerns that a rapidly swelling bubble could be set to burst in spectacular fashion. Build fast, fix later: speed hurts quality at Tesla, some workers say SAN FRANCISCO (Reuters) - After Tesla's Model S sedans and Model X SUVs roll off the company's Fremont, California assembly line, the electric vehicles usually make another stop - for repairs, nine current and former employees have told Reuters. Slump in Facebook, Apple raises prospects of tech rally brake SAN FRANCISCO (Reuters) - Shares of Facebook , Apple and other technology heavyweights dropped on Wednesday, creating uncertainty over whether the top-performing sector's record-breaking rally this year is ending or merely taking a break. Apple to audit development processes after Mac bug discovered (Reuters) - Apple Inc said on Wednesday it would review its software development process a day after a researcher discovered a bug in a new version of its Mac operating system that could give hackers total control of vulnerable machines. Meredith's Time buy helps lift U.S. media lending to 11-year high NEW YORK (Reuters) - U.S. media group Meredith Corp's planned purchase of Time Inc is the latest in a run of mergers that have boosted media lending to the highest point in more than a decade as the sector regroups to fight online content providers. U.S. healthcare shares climb as investors see upside from Republican tax bill NEW YORK (Reuters) - Shares of U.S. healthcare companies mostly climbed on Wednesday, as investors saw some potential upside for the stocks from a Republican-led bill to cut taxes. Related Video Breakingviews TV: Backfiring Uber Thumbs up for euro zone as sentiment soars Counterparties is a curated snapshot of the best finance news and commentary around the web. Register Today News you can use with actionable, timely advice for managing your financial life, including retirement, taxes, real estate, education and more. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2017 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook