Thursday 23 July 2020

Daily Investor Update: Seven Democratic senators urge caution on Google's purchase of Fitbit

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Seven Democratic senators urge caution on Google's purchase of Fitbit

Senators Amy Klobuchar and Elizabeth Warren and five other Democratic senators on Thursday urged the Justice Department to be cautious in reviewing Google's planned purchase of Fitbit, saying the tech giant had already cemented its dominance in some areas through acquisitions.

Big U.S. Boeing customers want the 737 MAX but say contracts need re-set

Two of Boeing Co's biggest commercial airline customers said on Thursday they are still committed to the 737 MAX despite delays in its return to flight and the coronavirus pandemic, though the head of Southwest Airlines said contracts need to be "completely reset."

Gold rallies on U.S.-China row, Apple news slams stocks

The dollar slipped to an almost two-year low and gold rose further on Thursday as a gauge of global equities retreated on concerns about a potential probe of Apple Inc took the wind out of the high-flying tech sector.

Oil falls on coronavirus demand concerns, weak U.S. jobs numbers

Oil prices fell 2% on Thursday as investors worried the U.S. Congress may not agree on a stimulus package and as jobless numbers rose, while analysts prepared to cut energy demand forecasts as the number of coronavirus cases surges higher.

AMC, Cineworld further delay reopening of U.S. movie theaters

AMC Entertainment Holdings Inc said on Thursday it has delayed the reopening of its movie theaters in the United States to mid to late August, in alignment with the new release dates of Disney's "Mulan" and Christopher Nolan's thriller, "Tenet".

Apple faces deceptive trade practices probe by multiple U.S. states: document

Multiple U.S. states are investigating Apple Inc for potentially deceiving consumers, according to a March document obtained by a tech watchdog group.

Wall Street drops on mixed earnings, jobless claims data

Wall Street retreated on Thursday as mixed earnings, a surprise increase in U.S. jobless claims and Washington's tug-of-war over stimulus measures fed risk aversion among investors.

Big Tech CEOs ready defenses for U.S. Congress hearing into their growing power

The chief executives of four of the largest U.S. tech companies plan to deflect criticism next week in a Congressional hearing into their use of market power to hurt rivals by saying they themselves face competition and by debunking claims they are so dominant.

Elon Musk's SpaceX in talks to raise funds at $44 billion valuation: Bloomberg News

Billionaire Elon Musk's SpaceX is looking to raise new capital at a valuation of about $44 billion, Bloomberg News reported on Thursday, citing people familiar with the matter.

Blackstone second quarter distributable earnings drop as asset sales slow

Blackstone Group Inc , the world's largest alternative asset manager, said on Thursday its distributable earnings fell 23% year-on-year in the second quarter, as the coronavirus outbreak made it more difficult to divest assets.

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