Wednesday, 2 September 2020

Daily Investor Update: U.S. businesses see modest increase in activity, Fed survey shows

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U.S. businesses see modest increase in activity, Fed survey shows

U.S. businesses saw a modest increase in activity and employment generally increased through late August, a Federal Reserve report showed on Wednesday, but economic growth remained sluggish in some parts of the country.

Internet companies urge FCC to reject Trump bid to impose new social media regulations

A group representing major internet companies including Facebook Inc, Amazon.com Inc and Alphabet Inc's Google on Wednesday urged the Federal Communications Commission (FCC) to reject a Trump administration bid to narrow the ability of social media companies to remove objectionable content.

U.S. private payrolls undershoot expectations; labor market recovery losing speed

U.S. private employers hired fewer workers than expected for a second straight month in August, suggesting that the labor market recovery was slowing as the COVID-19 pandemic persists and government money to support workers and employers dries up.

Wall Street climbs with defensive sectors out front

The S&P 500 rose on Wednesday for the ninth time in the past 10 sessions although defensive sectors took their turn to lead the gains after data showed U.S. private payrolls expanded last month, but at a much slower pace than expected.

GM CEO Barra, Ivanka Trump talk jobs in a 2020 battleground

General Motors Co Chief Executive Mary Barra hosted Ivanka Trump, daughter and adviser to U.S. President Donald Trump, for a tour on Wednesday of a GM worker training center in one of the hottest battlegrounds of the U.S. presidential race.

Airbnb spurns approach from Ackman's blank-check company

Billionaire investor William Ackman has approached short-term home rental company Airbnb Inc about going public through a reverse merger with his blank-check company, according to people familiar with the matter.

Tesla's Musk discusses vaccine project, car plant with German politicians

Tesla Inc's CEO Elon Musk met with three German ministers and other senior politicians on Wednesday to discuss the progress of a collaboration between the car maker and a German biotech company and a planned electric vehicle factory.

Global stocks climb on recovery, stimulus optimism; dollar gains

A gauge of global stocks climbed to an intraday record on Wednesday as investors looked to improving economic data and U.S. congressional negotiations for more stimulus to support the recovery from coronavirus lockdowns.

Intel releases new laptop chips to confront Apple, rising rivals

Intel Corp on Wednesday unveiled "Tiger Lake," the 11th generation version of its flagship chip for laptops that it hopes will help it regain lost market share and counter forthcoming Apple Inc machines with Apple-designed chips.

Tesla tumbles 15% as blistering rally cools

Tesla Inc shares fell as much as 15% on Wednesday, extending previous session's losses after the electric-car maker announced a $5 billion stock offering that was aimed at cashing in on Wall Street's heightened interest.

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