Reuters - Daily Investor Update

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Friday, August 11, 2017

Facebook OKs local firm's launch of Moments-like app in China: New York Times

(Reuters) - Facebook Inc, whose social media platform is blocked in China, authorized a local company to launch a photo-sharing application in the country in May, the New York Times reported, citing a person with knowledge of the company's plans.

Bond investors seen giving Tesla a $1.8 billion endorsement

NEW YORK (Reuters) - Bond investors on Friday were poised to give a $1.8 billion boost to Tesla Inc's balance sheet by snapping up the electric car maker's first foray into the U.S. junk bond market, where yield-hungry investors have raced to lock in relatively higher returns.

Oil prices up amidst higher global demand, Nigeria instability

NEW YORK (Reuters) - Oil prices rose slightly on Friday in volatile trading as the market weighed lower U.S. crude stocks, Nigerian instability and strong global demand growth against a persistently slow rebalancing.

Wall Street ends up slightly, snapping three days of losses

NEW YORK (Reuters) - U.S. stocks ended higher on Friday, snapping three days of losses, as investors bet on a slower U.S. rate hikes, but gains were muted by increasingly aggressive exchanges between the United States and North Korea.

Selloff in stocks takes a breather; gold and yen tick up

NEW YORK (Reuters) - Wall Street put a floor under global equities on Friday after a weak inflation reading brought investors back into U.S. stocks even as tensions between the United States and North Korea continued to escalate, though the geopolitical fears still drove safe-haven buying of gold and the yen.

Investors ponder further shocks after North Korea jolt

LONDON (Reuters) - After this week's war of words between the United States and North Korea triggered the biggest fall in global stocks since the U.S. presidential election, investors are wondering what other off-radar shocks may be waiting to rock world markets.

Audits show lax oversight by Wisconsin agency counting Foxconn jobs

CHICAGO (Reuters) - The Wisconsin agency tasked with holding Foxconn accountable for delivering up to 13,000 jobs in exchange for $1.5 billion in state payroll tax credits has a history of failing to verify job-creation claims and rewarding companies that fall short of quotas, according to state audits.

GM blasts $1 billion deal between ignition switch plaintiffs, creditor trust

(Reuters) - Plaintiffs suing General Motors Co over faulty ignition switches and other alleged vehicle defects have reached a $1 billion settlement requiring the automaker to turn over that amount of stock, a lawyer for the plaintiffs said in a court hearing on Friday.

Cash-strapped SoundCloud gets new funds and top management

FRANKFURT (Reuters) - SoundCloud, the world's most popular streaming music app, but one that has struggled to find a profitable business model, said it received new funding on Friday, insulating it from potentially running out of cash this year.

Monte dei Paschi reports 3.1 billion euro loss as state steps in

MILAN (Reuters) - Monte dei Paschi di Siena reported a 3.1 billion euro ($3.7 billion) second-quarter loss after additional writedowns on the bad loans Italy's fourth biggest bank is selling as part of its bailout by the state.