Reuters - Daily Investor Update

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Monday, August 14, 2017

Trump orders China IP probe as business groups urge caution

WASHINGTON (Reuters) - U.S. President Donald Trump on Monday authorized an inquiry into whether to investigate China's alleged theft of American intellectual property, declaring it "a very big move" while the country's largest business lobby group urged the two countries to resolve differences.

Costco owes Tiffany $19.4 million for fake Tiffany rings: U.S. judge

NEW YORK (Reuters) - A federal judge on Monday said Tiffany & Co may recover at least $19.4 million in damages from Costco Wholesale Corp over the warehouse club chain's illegal sale of counterfeit diamond engagement rings bearing the "Tiffany" name.

Lighthizer says China intellectual property probe a high priority

WASHINGTON (Reuters) - U.S. Trade Representative Robert Lighthizer said on Monday that a probe on whether to launch an investigation into China's intellectual property practices will be one of his office's "highest priorities."

Wall Street surges as North Korea jitters ease

NEW YORK (Reuters) - U.S. stocks recovered further on Monday from last week's selloff, with the S&P 500 posting its biggest one-day percentage gain since April as worries eased about a conflict between the United States and North Korea.

Dudley tells skeptical markets he sees Fed rate hike: AP

WASHINGTON/NEW YORK (Reuters) - One of the Federal Reserve's most influential members expects to raise interest rates once more this year, and to soon begin shedding some of the Fed's bond holdings, according to comments on Monday that pushed back on doubts in financial markets.

Oil prices fall 2.5 percent on strong dollar, weak China data

NEW YORK (Reuters) - Oil prices tumbled more than 2.5 percent on Monday in volatile trade, as dollar strength and weak domestic demand data in China hammered prices that had received a short-lived boost on concerns about potential reductions in crude supply from Libya.

Corvex warns of proxy fight with Energen after raising stake

(Reuters) - Corvex Management threatened a proxy battle against Energen Corp if the U.S. oil and gas producer did not agree to add the activist investor's nominees to its board.

Big-name U.S. hedge funds shed healthcare stocks during the rally in second-quarter

NEW YORK (Reuters) - Several big-name hedge fund investors trimmed their stakes in healthcare companies in the second quarter as the sector led the broad U.S. stock market higher, rallying amid a Republican effort to repeal and replace President Obama's signature healthcare law.

Activist Fund Corvex has $400 million stake in Danone: Bloomberg

(Reuters) - Activist hedge fund Corvex Management owns shares in French food group Danone SA worth about $400 million because it views the company as significantly undervalued, Bloomberg reported on Monday, citing people familiar with the matter.

Shares, U.S. dollar climb as North Korea fears abate

NEW YORK (Reuters) - Stocks around the world rose along with U.S. Treasury bond yields and the U.S. dollar on Monday as investors regained some appetite for riskier assets on easing nervousness about a nuclear stand-off between the United States and North Korea.