Reuters - Daily Investor Update

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Friday, August 4, 2017

Dow chalks up eighth record close in a row

(Reuters) - The Dow Jones Industrial Average ended at its eighth straight record high on Friday, with gains in JPMorgan Chase and other banks after data showed U.S. employers hired more workers than expected in July.

Toyota plans truck, possibly SUV production in Mexico after Trump threat

MEXICO CITY (Reuters) - Toyota Motor Corp on Friday said it planned to build pickup trucks and possibly SUVs at a new plant in Mexico, a move that followed threats by U.S. President Donald Trump to penalize the company if it built small cars south of the border.

U.S. payrolls report boosts dollar, equities, bond yields

NEW YORK (Reuters) - The U.S. dollar and bond yields climbed while stocks on Wall St rose modestly on Friday, following a stronger-than-expected U.S. jobs report, which also showed a pick up in wage growth for the world's largest economy.

Exclusive: China regulators plan to crack down further on overseas deals

HONG KONG (Reuters) - China plans to further tighten the screws on overseas acquisitions by Chinese companies and borrowing to fund those transactions, and has started closely scrutinizing the commercial aspects of the deals, three people familiar with the move said.

Toyota, Mazda invite U.S. states to compete for a rich prize

WASHINGTON (Reuters) - Toyota Motor Corp opened the door to a bidding war among Midwestern and southern states seeking to land jobs and investment when it announced on Friday it would build a $1.6 billion U.S. assembly plant with Mazda Motor Corp .

Factbox: U.S. states woo automakers with $17 billion in subsidies since 1976

(Reuters) - Over the past 40 years U.S. states have been vying for new auto plants, with 17 states granting $17 billion in tax breaks, job training funds, infrastructure development and other incentives to woo investment from domestic and foreign automakers.

Former drug company executive Martin Shkreli is convicted of fraud

NEW YORK (Reuters) - Martin Shkreli was convicted of fraud by jurors in a U.S. court in Brooklyn on Friday, in a blow for the controversial former drug company and hedge fund executive, who had forcefully and repeatedly proclaimed his innocence.

Strong U.S. jobs report bolsters case for further Fed tightening

WASHINGTON (Reuters) - U.S. employers hired more workers than expected in July and raised their wages, signs of labor market tightness that likely clears the way for the Federal Reserve to announce a plan to start shrinking its massive bond portfolio.

Wells Fargo to pay U.S. $108 million over veterans' loans

(Reuters) - Wells Fargo & Co will pay the U.S. government $108 million to settle a whistleblower lawsuit claiming it charged military veterans hidden fees to refinance their mortgages, and concealed the fees when applying for federal loan guarantees.

Ackman's Pershing Square says it plans to nominate directors at ADP

BOSTON (Reuters) - Billionaire investor William Ackman on Friday said his Pershing Square Capital Management hedge fund plans to nominate directors to, but not try to control, the 10-person board at payroll services company Automatic Data Processing Inc .