Reuters - Daily Investor Update

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Wednesday, October 4, 2017

U.S. business groups say WTO unable to curb many Chinese trade practices

WASHINGTON (Reuters) - U.S. business groups expressed frustration on Wednesday with what they said are China's efforts to tilt the economic playing field in favor of domestic companies, adding that World Trade Organization rules are insufficient to police all of Beijing's trade practices.

Canada's Shopify slides after Citron criticism

TORONTO (Reuters) - Shopify Inc shares fell by over 11 percent on Wednesday after short-seller Citron Research said the Canadian provider of online retailing software was overvalued, according to traders and analysts.

Strong data lifts Wall St. to fresh record highs

NEW YORK (Reuters) - U.S. stocks ended up slightly to extend a run of record closing highs on Wednesday as data on the services sector added to signs of strength in the economy and lifted optimism about earnings.

Trump to keep Obama rule curbing corporate tax inversion deals

WASHINGTON (Reuters) - The Trump administration will keep for now an Obama-era rule that helped halt a wave of U.S. corporations moving abroad via tax-driven corporate inversion deals, it said on Wednesday, but added that it expected tax reform to obviate the rule.

Airbus to recoup some engine nacelle work from suppliers

PARIS (Reuters) - Airbus told European governments on Wednesday that it has made a strategic decision to bring the design of some nacelles or aircraft engine casings inside the company, rather than leaving it with suppliers, according to a presentation on its website.

SEC chair floats potential delay to fund data rules following hack

WASHINGTON (Reuters) - The chairman of the U.S. Securities and Exchange Commission (SEC) has floated a possible delay to new investment fund data gathering rules following a hack that has raised questions over the regulator's cyber security controls.

Exclusive: SEC forensics unit sought resources, cyber training ahead of 2016 hack

WASHINGTON (Reuters) - In August 2016, just two months before the U.S. Securities and Exchange Commission discovered its corporate filing system had been hacked, the SEC's internal watchdog, Carl Hoecker, received a plea for help from his new forensics investigative unit.

U.S. lawmakers seek to shut banks that harm consumers

WASHINGTON (Reuters) - U.S. House Democrats introduced legislation on Wednesday to direct banking regulators to review operations at the country's largest banks and consider shutting them down if they exhibit repeated wrongdoing to consumers.

Stocks little changed, dollar pares losses on data

NEW YORK (Reuters) - Global stocks were little changed on Wednesday after recent record highs driven by encouraging growth worldwide, while the dollar fell even as data revealed an accelerating U.S. service sector that could lead to higher interest rates in December.

EU takes Ireland to court for not claiming Apple tax windfall

BRUSSELS (Reuters) - The European Commission said on Wednesday it was taking Ireland to the European Court of Justice for its failure to recover up to 13 billion euros ($15.3 billion) of tax due from Apple Inc , a move labeled as "regrettable" by Dublin.