Reuters - Daily Investor Update

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Wednesday, January 24, 2018

Ford swings to quarterly profit

DETROIT (Reuters) - Ford Motor Co on Wednesday reported a quarterly net profit, versus a loss in the same period in 2016 caused by pension liabilities, but said its pre-tax profit was hit by commodity costs and unfavorable currency exchange rates.

Starbucks to boost pay, benefits after U.S. lowers corporate taxes

LOS ANGELES (Reuters) - Starbucks Corp will use some of the savings from the new U.S. corporate tax cuts to give domestic employees pay raises, company stock and expanded benefits with a combined worth of more than $250 million, the company said on Wednesday.

LG Electronics to hike washing machine prices in U.S. after steep tariffs

(Reuters) - LG Electronics Inc will raise prices of most of its washers in the United States after the government announced steep tariffs on imported large residential washing machines, according to a letter sent by LG to retailers.

Meg Whitman to lead Katzenberg's mobile media startup NewTV

(Reuters) - Departing Hewlett Packard Enterprise Co CEO Meg Whitman will become chief executive of DreamWorks co-founder Jeffrey Katzenberg's mobile media firm NewTV, a move that places her back into unchartered territory.

S&P 500 dips after choppy session; chipmakers drag Nasdaq

NEW YORK (Reuters) - The S&P 500 was little changed on Wednesday while the Nasdaq lagged in choppy trading in the wake of comments by U.S. Commerce Secretary Wilbur Ross which hinted at action against China in a trade war.

EU fines chipmaker Qualcomm $1.2 billion over exclusivity deal with Apple

BRUSSELS (Reuters) - U.S. chipmaker Qualcomm Inc was hit with a 997 million euro ($1.23 billion) fine by European Union antitrust regulators on Wednesday for paying Apple Inc to use only its chips, blocking out rivals such as Intel Corp .

China's Sinovel convicted in U.S. of trade-secret theft

(Reuters) - Chinese wind turbine maker Sinovel Wind Group Co was convicted on Wednesday of U.S. charges that it stole trade secrets from AMSC, causing the Massachusetts-based company to lose more than $800 million.

U.S. official backs weak dollar amid fears of trade war

DAVOS, Switzerland (Reuters) - U.S. Treasury Secretary Steven Mnuchin welcomed a weaker dollar on Wednesday, sending the greenback reeling and underlining concerns that U.S. President Donald Trump is stepping up his attack on China and other big trading partners as part of his America First agenda.

Scaramucci hits pause button on Las Vegas hedge fund party

NEW YORK (Reuters) - Anthony Scaramucci's annual schmooze fest for Wall Street on the Las Vegas strip is on hold.

White House says dollar very stable, believes in free-floating currency

WASHINGTON (Reuters) - The U.S. dollar is very stable and President Donald Trump believes in a free-floating currency, the White House said on Wednesday after a senior U.S. official welcomed a weaker dollar.