Breaking business news: Bitcoin skids to two-month low after Facebook ad ban unnerves investors

Click to View in Browser Thursday, February 1, 2018 Bitcoin skids to two-month low after Facebook ad ban unnerves investors LONDON (Reuters) - Bitcoin, the world's largest cryptocurrency, skidded 11 percent on Thursday to its lowest since late November, as a Facebook ban on cryptocurrency adverts and a growing regulatory backlash against the nascent market frightened investors. Wall Street opens lower on hawkish Fed, tepid earnings (Reuters) - U.S. stocks opened lower on Thursday, following a string of lackluster earnings and after the Federal Reserve raised its inflation outlook and flagged "further gradual" interest rate hikes. Wells Fargo loses big client after dialing up risk in retirement funds BOSTON (Reuters) - After Wells Fargo & Co decided to ramp up risk in its flagship age-based retirement funds last year, one of its largest customers decided to call it quits, unhappy with the new investment strategy and how the bank handled the transition. U.S. jobless claims unexpectedly fall; worker productivity drops WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to a tightening labor market and strengthening economy at the start of the year. Holiday shipping snags curb UPS's quarterly profit growth (Reuters) - United Parcel Service Inc on Thursday said its fourth-quarter earnings suffered from higher costs resulting from surging shipping volumes during the peak holiday period, and its shares fell more than 6 percent. In Aramco IPO, China talks crucial for choice of listing venue: sources LONDON/DUBAI (Reuters) - Saudi Arabia wants to complete talks with strategic investors such as China, Japan and South Korea before deciding where to list shares in state oil company Saudi Aramco, three sources familiar with the discussions said. Lowe's to pay U.S. staff $1,000 bonus following tax reform (Reuters) - Lowe's Cos Inc on Thursday said it would pay a one-time bonus of $1,000 for over 260,000 hourly U.S employees, as the home improvement chain takes advantage of changes in the U.S. tax code. Automakers post mixed U.S. January vehicle sales, SUVs in favor DETROIT (Reuters) - Major automakers posted mixed U.S. new vehicle sales figures for January, as American consumers continued to abandon passenger cars in favor of larger, more comfortable pickup trucks, SUVs and crossover models. Saudi Arabia steps up efforts to end $22-billion debt dispute: sources DUBAI (Reuters) - Saudi Arabia has accelerated steps to resolve a $22-billion debt dispute that is seen by investors as a litmus test of Crown Prince Mohammed bin Salman's commitment to reforms, three sources familiar with the matter say. Facebook soothes market nerves with user experience promise (Reuters) - Shares in Facebook Inc jumped 3 percent to a record high in early trading on Thursday, after reporting an almost 50 percent jump in quarterly revenue and promises to focus on users' experience on the social network easing concerns over falling usage. Related Video Still room for S&P 500 to rise to 3050, says Lisa Erickson Breakingviews TV: Lazard's skin 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 2018 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