Wednesday 28 October 2020

Daily Investor Update: 'Who the hell elected you?' U.S. Senate tech hearing becomes political showdown

Reuters.com Newsletter

'Who the hell elected you?' U.S. Senate tech hearing becomes political showdown

A U.S. Senate hearing to reform an internet law and hold tech companies accountable for how they moderate content quickly turned into a political scuffle as lawmakers not only went after the companies but also attacked each other.

U.S. antitrust regulator loses bid to revive Qualcomm case

A U.S. appeals court on Wednesday handed a victory to Qualcomm Inc, declining to reconsider an August decision that dismissed the U.S. Federal Trade Commission's antitrust case against the chip designer.

Huawei lawyer alleges delay in CFO arrest was intentional in U.S. extradition case

A lawyer for Huawei Chief Financial Officer Meng Wanzhou on Wednesday questioned the Canadian constable involved in her 2018 arrest, asking if the process was delayed in an initial bid to suppress her legal rights.

Google steps up campaign against EU push for tough new tech rules

Alphabet Inc unit Google has launched a 60-day strategy to counter the European Union's push for tough new tech rules by getting U.S. allies to push back against the EU's digital chief and spelling out the costs of new regulations, according to a Google internal document.

Oil plunges over 5% to four-month low as pandemic surges, U.S. crude output soars

Oil prices fell more than 5% on Wednesday, sending Brent to a four-month low as surging coronavirus infections in the United States and Europe prompted renewed lockdowns and fed expectations for new declines in fuel demand.

EU arms itself against U.S. and others in trade disputes

The European Union will arm itself with potential punitive tariffs against the United States and other rivals if they take advantage of World Trade Organization paralysis and refuse to settle trade disputes.

S&P 500, Dow sink 3% to late-September lows on virus, election worry

The S&P 500 and the Dow slumped on Wednesday to their lowest levels since late September, as coronavirus cases climbed globally and investors also worried about the possiblity of a contested U.S. presidential election next week.

Instant View: U.S. stocks tumble again as election looms, virus spread balloons

Wall Street's main indexes slumped on Wednesday, briefly losing more than 3%, as a surge in coronavirus cases dashed hopes of a quick global economic recovery and traders got nervous before next week's U.S. presidential election.

JetBlue sticking with seat caps into next year, CEO says

JetBlue Airways will continue limiting the number of seats it sells on each flight into early next year, Chief Executive Robin Hayes told Reuters on Wednesday, citing the role the policy plays in customer confidence.

Factbox: Fiat Chrysler, Peugeot merger: how it would work

(This Oct. 26 story has been refiled to clarify plans for Comau in 13th paragraph)

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