Reuters - Daily Investor Update

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Wednesday, June 28, 2017

Meal-kit company Blue Apron slashes IPO valuation expectations

(Reuters) - Blue Apron Holdings Inc slashed its valuation expectations for its initial public offering by a third on Wednesday, as Amazon.com's $13.7 billion deal to buy Whole Foods Market Inc weighed on prospects for the meal-kit industry.

Canada's top court rules Google must block some results worldwide

OTTAWA (Reuters) - Canadian courts can force internet search leader Google to remove results worldwide, the country's top court ruled on Wednesday, drawing criticism from civil liberties groups arguing such a move sets a precedent for censorship on the internet.

Oil rises as U.S. weekly production eases

NEW YORK (Reuters) - Oil futures climbed on Wednesday to their highest in more than a week despite a surprise build in crude inventories, as buyers were encouraged by a small weekly decrease in U.S. production.

Monsanto profit tops expectations as soybean sales surge

(Reuters) - U.S. seeds and agrochemicals company Monsanto Co , which is in the process of being bought by Germany's Bayer AG , reported a stronger-than-expected quarterly profit on Wednesday as record soybean plantings lifted seed sales.

Meat processor cuts deal with ABC in 'pink slime' defamation case

(Reuters) - Beef Products Inc has settled a closely watched defamation lawsuit against American Broadcasting Co and its reporter Jim Avila, the meat processor said on Wednesday.

AIG shareholders approve $9.58 million for ex-CEO's 2016 compensation

(Reuters) - American International Group Inc shareholders on Wednesday approved the company's 2016 compensation for executives, including the insurance giant's former chief executive, Peter Hancock.

Wall St. higher as banks, consumer stocks rise

(Reuters) - Wall Street was higher in late morning trading on Wednesday as financial and consumer stocks led a broad rally among the major sectors.

BMW to streamline car equipment levels to pay for R&D

MUNICH (Reuters) - BMW will streamline its manufacturing process, offering fewer variants of engines and equipment, to offset high research and development (R&D) spending through 2019, the German carmaker's finance chief Nicolas Peter said on Wednesday.

Boeing expands CFO Greg Smith's role

(Reuters) - Boeing Co said on Wednesday its Chief Financial Officer Greg Smith will take on additional roles, ahead of the planned retirement of some of its key executives later this year.

Despite weak oil prices, OPEC still pockets more dollars

LONDON (Reuters) - With world oil inventories swelling despite a global pact on cutting output and crude prices falling by a fifth in the past month, OPEC appears to be losing its battle to balance the market.