Wednesday, 24 January 2018

Breaking business news: S&P 500 dips after choppy session; chipmakers drag Nasdaq

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Wednesday, January 24, 2018
S&P 500 dips after choppy session; chipmakers drag Nasdaq
NEW YORK (Reuters) - The S&P 500 was little changed on Wednesday while the Nasdaq lagged in choppy trading in the wake of comments by U.S. Commerce Secretary Wilbur Ross which hinted at action against China in a trade war.
U.S. official backs weak dollar amid fears of trade war
DAVOS, Switzerland (Reuters) - U.S. Treasury Secretary Steven Mnuchin welcomed a weaker dollar on Wednesday, sending the greenback reeling and underlining concerns that U.S. President Donald Trump is stepping up his attack on China and other big trading partners as part of his America First agenda.
Aramco seeks to expand in U.S., says Trump is pro-oil
DAVOS, Switzerland (Reuters) - Saudi oil giant Aramco is looking to expand in the United States where President Donald Trump's tax cuts and support for the oil industry are making business increasingly attractive, its chief executive told Reuters.
Ford says commodities hurt results, more pain ahead in 2018
DETROIT (Reuters) - Ford Motor Co on Wednesday posted a lower-than-expected quarterly net profit, hurt by rising commodity costs and unfavorable currency exchange rates, and said it expects more pain to come from higher raw material prices in 2018.
SEC investigating GE charge; company posts $10 billion loss
NEW YORK (Reuters) - U.S. securities regulators are probing a massive insurance charge recently announced by General Electric Co , the latest blow to the nation's largest industrial conglomerate as it struggles to reverse steep declines in some of its units and is looking to sell off $20 billion of assets.
Apple to add battery features after slowdown row
(Reuters) - Apple Inc announced changes on Wednesday that make good on its promise to allow users to turn off a controversial feature that slows down iPhones when batteries are running low, although it signaled it might take months more to deliver.
Whirlpool posts quarterly loss due to tax reform charge
(Reuters) - Home appliances maker Whirlpool Corp on Wednesday posted a quarterly loss, compared with a year-ago profit, hit by a charge of about $420 million related to the U.S. tax reforms.
Scaramucci hits pause button on Las Vegas hedge fund party
NEW YORK (Reuters) - Anthony Scaramucci's annual schmooze fest for Wall Street on the Las Vegas strip is on hold.
Meg Whitman to lead Katzenberg's mobile media startup NewTV
(Reuters) - Departing Hewlett Packard Enterprise Co CEO Meg Whitman will become chief executive of DreamWorks co-founder Jeffrey Katzenberg's mobile media firm NewTV, a move that places her back into unchartered territory.
U.S. auto regulator probes Tesla 'Autopilot' crash: source
WASHINGTON (Reuters) - The U.S. National Highway Traffic Safety Administration (NHTSA) is sending investigators to examine the crash of a Tesla Inc vehicle, apparently traveling in semi-autonomous mode, and a fire truck in California, a person briefed on the matter said on Wednesday.
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