Monday, 24 June 2019

Daily Investor Update: Oil mixed on crude demand fears and U.S.-Iran tensions

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Oil mixed on crude demand fears and U.S.-Iran tensions

Oil prices were mixed on Monday as market concerns about the possibility of a conflict between the United States and Iran eased, while worries about declining crude demand resurfaced.

Oklahoma judge approves Teva's $85 million opioid settlement

An Oklahoma judge on Monday approved a revised $85 million (£66.7 million) settlement with Teva Pharmaceutical Industries Ltd resolving claims by the state's attorney general that the drugmaker helped fuel the U.S. opioid epidemic.

U.S. waives tariffs on Japanese aluminum for Tesla battery cells

The U.S. Commerce Department has agreed to Tesla Inc's request to waive 10 percent tariffs on imported aluminum from Japan used in the manufacture of battery cells at Tesla's Nevada Gigafactory, government documents show.

Alphabet commits to data privacy in Toronto smart city master plan

A high-tech smart city project proposed along Toronto's waterfront by Alphabet Inc unit Sidewalk Labs has pledged not to sell advertisers the personal data collected to serve residents and visitors, as part of a 1,500-page master plan released on Monday.

Bitcoin trades above $11,000, after 10% weekend jump

Bitcoin tested 15-month highs on Monday after jumping more than 10% over the weekend, with analysts ascribing the spike to growing optimism over the adoption of cryptocurrencies after Facebook unveiled its Libra digital coin.

Global stocks mostly flat ahead of G20; dollar slips

Global equity markets traded mostly flat on Monday as investors awaited U.S.-China trade talks the end of this week at the G20 summit, and the dollar fell to three-month lows on bets the Federal Reserve may cut interest rates more than once this year.

Supreme Court allows foul language trademarks in F-word case

(Editor's note: contains language that some readers may find offensive)

Eldorado Resorts takes on bigger rivals with $8.5 billion Caesars buy

U.S. casino operator Eldorado Resorts Inc has agreed to buy rival Caesars Entertainment Corp for about $8.5 billion in cash and stock, as it looks to build scale to take on larger companies such as Las Vegas Sands and Wynn Resorts.

Wall Street struggles for direction ahead of G20 summit

Wall Street struggled for direction on Monday as gains by technology companies were blunted by losses in the healthcare sector, while investors looked to U.S. President Donald Trump's meeting with his Chinese counterpart Xi Jinping at the G20 summit later this week.

Exclusive: Huawei's U.S. research arm builds separate identity

The U.S.-based research arm of China's Huawei Technologies Co Ltd - Futurewei Technologies Inc - has moved to separate its operations from its corporate parent since the U.S government in May put Huawei on a trade blacklist, according to two people familiar with the matter.

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