Tuesday 21 January 2020

Daily Investor Update: Michigan, Tesla reach agreement for direct car sales: source

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Michigan, Tesla reach agreement for direct car sales: source

Tesla Inc has reached a settlement with Michigan to allow the electric carmaker to directly sell vehicles in the state, a person familiar with the agreement said on Tuesday.

Boeing says 737 MAX may not win approval to return until mid-year, shares drop

Boeing Co said on Tuesday it does not expect to win approval for the return of the 737 MAX to service until mid-year due to further potential developments in the certification process and regulatory scrutiny on its flight control system.

Exclusive: Apple dropped plan for encrypting backups after FBI complained - sources

Apple Inc dropped plans to let iPhone users fully encrypt backups of their devices in the company's iCloud service after the FBI complained that the move would harm investigations, six sources familiar with the matter told Reuters.

Wall Street loses ground as China virus spooks investors

Wall Street backed away from all-time highs on Tuesday as investors returned from a holiday weekend to face a viral outbreak in China and a downbeat global growth outlook from the International Monetary Fund (IMF).

Huawei CFO arrives in Vancouver court to contest U.S. extradition request

Huawei Chief Financial Officer Meng Wanzhou returned to a Vancouver court on Tuesday, where her lawyers are expected to build on their arguments against the U.S. extradition request that they say is based a sanctions violation and not bank fraud.

Exclusive: Philadelphia refinery expected to be sold to real estate developer - sources

The bankrupt Philadelphia Energy Solutions is expected to sell its fire-damaged refinery site to real estate developer Hilco Redevelopment Partners, three sources familiar with the situation said on Tuesday.

Apple lawsuit tests if an employee can plan rival startup while on payroll

Attorneys for a former Apple Inc executive on Tuesday will try to convince a skeptical judge of a core tenet of tech startup culture - that employees can plan a competing venture while still in a job.

Risk assets slip on Chinese virus anxiety

Risk assets took a hit across the globe on Tuesday while the Japanese yen and U.S. Treasury prices gained as financial markets reacted to mounting concern about a new strain of flu-like virus in China.

Facebook targets UK growth with 1,000 hires this year

Facebook will hire 1,000 people in London this year in roles such as product development and safety as it continues to grow its biggest engineering center outside the United States after Britain leaves the European Union.

Starbucks to add more plant-based food in latest green push; Beyond Meat shares jump

Starbucks Corp aims to add more plant-based food and drinks to its menu as part of the company's latest plan to become more environmentally friendly, Chief Executive Kevin Johnson said on Tuesday, prompting a surge in shares of Beyond Meat Inc .

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