Wednesday 26 September 2018

Daily Investor Update: GM's Cadillac to leave Big Apple, return to Michigan roots

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GM's Cadillac to leave Big Apple, return to Michigan roots

General Motors Co said on Wednesday that Cadillac will switch its headquarters back to Michigan from New York after just three years to be closer to engineers and design teams as the luxury brand plans to roll out two new vehicles annually through 2020.

Merck's Frazier to remain CEO of the U.S. drugmaker beyond 2019

Merck & Co Inc Chief Executive Officer Kenneth Frazier will remain in the role beyond 2019, the drugmaker said on Wednesday, after it scrapped a policy requiring its CEOs to retire at the age of 65.

Fed raises rates, sees at least three more years of economic growth

The Federal Reserve raised interest rates on Wednesday, as expected, and forecast three more years of economic growth as the U.S. central bank left its policy for steady rate rises in place.

Fed lifts U.S. rates by quarter percentage point

The U.S. Federal Reserve raised interest rates on Wednesday, as expected, and left its monetary policy outlook for the coming years largely unchanged amid steady economic growth and a strong job market.

Papa John's asks potential acquirers to submit offers: sources

Papa John's International Inc , the world's third-largest pizza delivery company, has reached out to potential acquirers to ask them to submit offers, people familiar with the matter said on Wednesday.

Tech companies back U.S. privacy law if it preempts California's

Major technology companies and internet service providers told a U.S. Senate panel on Wednesday they support federal legislation to protect data privacy but want Congress to preempt tough new rules adopted by California.

Wall Street adds to gains, dollar higher, after Fed rate hike

Wall Street extended gains on Wednesday, while the dollar dipped but then recovered, after the U.S. Federal Reserve raised interest rates, as expected, and flagged the end of "accommodative" monetary policy.

Nike shares dip after forecast disappoints

Nike shares fell as much as 3 percent on Wednesday after the company disappointed Wall Street by not raising its full-year forecast following a sales boost from its Colin Kaepernick ad campaign.

Uber to pay $148 million to settle data breach cover-up with U.S. states

Uber Technologies Inc [UBER.UL] will pay $148 million for failing to disclose a massive data breach in 2016, marking a costly resolution to one of the biggest embarrassments and legal tangles the ride-hailing company has suffered.

Canada PM shrugs off U.S. NAFTA pressure, says new deal not guaranteed

Canadian Prime Minister Justin Trudeau on Wednesday shrugged off U.S. pressure to quickly agree to a deal on NAFTA and indicated it was possible the three member nations might fail to conclude a new pact.

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