Reuters - Daily Investor Update

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Tuesday, July 4, 2017

U.S. government seeks to intervene in Apple's EU tax appeal: source

WASHINGTON (Reuters) - The U.S. government has sought to intervene in Apple's appeal against an EU order to pay back up to 13 billion euros ($14.8 billion) in taxes to Ireland, a source familiar with the matter said on Tuesday.

New EU court blow to Uber over French taxi case

BRUSSELS (Reuters) - Uber [UBER.UL] suffered a new setback in Europe on Tuesday when a European Union court adviser said France was entitled to charge local managers of the U.S. ride-hailing app firm with running an illegal taxi service.

Samsung plans $18.6 billion South Korea investment to widen chip lead

SEOUL (Reuters) - Samsung Electronics Co Ltd said on Tuesday it will invest at least $18.6 billion in South Korea to extend its lead in memory chips and next-generation smartphone displays, in a plan that promises to create almost half a million jobs.

Exclusive: Italian court to hear $3 billion claim against Morgan Stanley - source

ROME (Reuters) - Italian prosecutors have decided to take Morgan Stanley to court over allegations that the U.S. bank caused 2.7 billion euros ($3.1 billion) in losses to the state in relation to derivative transactions, a source familiar with the matter said.

Brent crude stabilizes near $50 a barrel

LONDON (Reuters) - Brent oil prices gained slightly on Tuesday, stabilizing near $50 a barrel on tentative signs that a persistent rise in U.S. crude production may be slowing.

Corvex, NYC investment group seek to scuttle Clariant-Huntsman deal

ZURICH (Reuters) - Activist investor Keith Meister's Corvex hedge fund and New York's 40 North have taken a 7.2 percent stake in Clariant to fight the Swiss chemical maker's planned merger with Huntsman Corp .

Shares, oil stumble after flying start to second half

LONDON (Reuters) - World shares and oil pulled back and bonds and gold were back in favor on Tuesday, as a long-range ballistic missile test by North Korea and July 4 holidays for U.S. markets restricted risk appetite.

VW to start importing cars to Iran in August with partner Mammut Khodro

BERLIN (Reuters) - Volkswagen will start importing cars to Iran next month, returning to the resurgent Middle Eastern market after 17 years in a move that may help the German group trim reliance on volatile overseas markets such as China and Brazil.

Trump to promote U.S. natgas exports in Russia's backyard

WASHINGTON (Reuters) - President Donald Trump will use fast-growing supplies of U.S. natural gas as a political tool when he meets in Warsaw on Thursday with leaders of a dozen countries that are captive to Russia for their energy needs.

Black gold: India tax hike could boost illegal bullion, jewelry sales

MUMBAI (Reuters) - A hike in taxes on gold sales in India could stoke under-the-counter buying and drive up appetite for precious metal smuggled into the country, where millions of people store big chunks of their wealth in bullion and jewelry.