Reuters - Daily Investor Update

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Friday, May 12, 2017

U.S., China agree to first trade steps under 100-day plan

WASHINGTON/BEIJING (Reuters) - The United States and China have agreed to take action by mid-July to increase access for U.S. financial firms and expand trade in beef and chicken among other steps as part of Washington's drive to cut its trade deficit with Beijing.

GE's Immelt wants to double purchases from Mexico: nation's president

MEXICO CITY (Reuters) - General Electric Co Chief Executive Jeff Immelt expressed interest on Friday in doubling the U.S. conglomerate's purchases from Mexican suppliers next year, the Mexican president's office said in a statement.

GE's Immelt bets big on digital factories, shareholders are wary

GROVE CITY, Penn. (Reuters) - At a General Electric Co factory in this rural town, Keith Spahn, 60, used to take measurements of parts from railroad locomotives that are in for repair by hand.

Switching sides, BlackRock says supported climate change report at Occidental Petroleum

BOSTON (Reuters) - Asset manager BlackRock Inc on Friday said it voted in favor of a shareholder proposal calling on Occidental Petroleum to report on the impact climate change could have on the energy company's business.

G7 finance chiefs warn U.S. not to upset global growth

BARI, Italy (Reuters) - Finance chiefs from many of the world's leading rich nations pressed the United States on Friday not to break a decades-long global consensus in areas such as trade and financial regulation criticized by U.S. President Donald Trump.

Top-10 Glaxo investor Woodford sells out, criticises board

LONDON (Reuters) - British fund manager Neil Woodford said on Friday he had sold out of pharma company GlaxoSmithKline after a "frustrating" stint as an investor spanning more than 15 years.

Oil dips as concerns linger over U.S. production

NEW YORK (Reuters) - Oil prices fell modestly on Friday, pulling back after two days of gains, as concern over U.S. production took some of the shine out of optimistic signals from OPEC this week about output cuts.

G7 officials worried about U.S. policies' impact on global growth

BARI, Italy (Reuters) - G7 finance officials have raised concerns about risks to global growth from the Trump administration's policy proposals including tax reform, a senior U.S. Treasury official said on Friday.

Wall St. slips as bank, industrial stocks drag

(Reuters) - U.S. stocks edged lower on Friday and were on track to book declines for the week, weighed down by financial and industrial sectors.

Spotify to go public as direct listing on NYSE: source

(Reuters) - Music streaming service Spotify will carry out a direct listing on the New York Stock Exchange when it goes public later this year or early next year, a source familiar with the situation said on Friday.