Reuters - Daily Investor Update

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Friday, October 20, 2017

GE vows $20 billion asset sales, 'sweeping change' as profit falls

NEW YORK (Reuters) - General Electric Co's new chief executive vowed on Friday to shed more than $20 billion worth of assets and hold executives accountable for failing to deliver profits after what he called "horrible" results in the third quarter.

U.S. tax plan hopes lift stocks, dollar strengthens

NEW YORK (Reuters) - World stocks advanced, bond yields rose and the U.S. dollar strengthened on Friday on increased hopes President Donald Trump could make progress on his fiscal plans after the U.S. Senate approved a budget blueprint that paves the way for tax cuts.

Fed's Mester calls for balance on bank regulation rethink

NEW YORK (Reuters) - Cleveland Federal Reserve Bank President Loretta Mester on Friday laid out a set of guiding principles by which to approach changes to U.S. banking regulations, emphasizing the need to tailor rules to risk, to boost cooperation across borders, and to aim for simplicity but not over-simplification.

Fed's Mester says comfortable with gradual rate hike path

NEW YORK (Reuters) - Cleveland Federal Reserve Bank President Loretta Mester on Friday said she is comfortable with the Fed's approach to raising rates gradually, though she herself sees a slightly faster rate-hike path as appropriate.

Wall Street rises along with tax-cut hopes

NEW YORK (Reuters) - U.S. stocks rose on Friday after the Senate passed a budget resolution, lifting hopes that President Donald Trump's tax-cut plan may move forward.

Stock market's future in Trump's hands as Federal Reserve chair pick looms

NEW YORK (Reuters) - Investors awaiting the nomination of the next Federal Reserve chair are hoping whoever is nominated pursues the same monetary policy that has supported rising stock prices for the past nine years.

Bitcoin soars to record high above $6,000

NEW YORK (Reuters) - Bitcoin surged to a record high of more than $6,000 on Friday, pushing its market capitalization to $100 billion at one point, as investors continued to bet on an asset that has a limited supply and has paved the way for a whole slew of crypto-currencies.

Nestle CEO praised by Third Point but hedge fund still wants more

LONDON/BOSTON (Reuters) - Nine months into leading the world's biggest packaged food company, Nestle SA Chief Executive Mark Schneider got a tentative thumbs-up from a prominent investor, who praised his early steps on Friday but said there was more work to be done.

Consumer Reports says Tesla misunderstands 'positive' Model 3 rating

DETROIT (Reuters) - Consumer Reports said on Friday that Tesla Inc had apparently misunderstood the "average" reliability rating the magazine assigned to the electric carmaker's Model 3 sedan this week, calling it generally "positive" for an all-new vehicle.

Whole Foods says hacking incident resolved

(Reuters) - Amazon.com Inc's Whole Foods Market said on Friday it had replaced affected point-of-sale systems at venues located within some stores where payment card information had been stolen.