Reuters - Daily Investor Update

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Friday, September 1, 2017

Dudley broke code of conduct in Wells disclosure misstep: NY Fed

NEW YORK (Reuters) - William Dudley, a tough-talking U.S. regulator who heads the Federal Reserve Bank of New York, violated a code of conduct by failing to disclose that his half-sister was an employee at Wells Fargo & Co , according to an investigation into potential conflicts of interest.

Dow, DuPont complete planned merger to form DowDuPont

(Reuters) - Dow Chemical Co and DuPont said on Friday the companies had successfully completed their planned $130 billion merger to form DowDuPont.

Nine years on, another Lehman Brothers bankruptcy

WILMINGTON, Del (Reuters) - Two affiliates of Lehman Brothers, the U.S. investment bank that collapsed in 2008 and fueled an economic crisis, filed for Chapter 11 bankruptcy late on Thursday, a reminder of the complexity of unwinding a global financial institution.

Stocks rise as U.S. jobs data seen keeping rate hikes in check

NEW YORK (Reuters) - Wall Street stocks finished modestly higher on Friday after data showed U.S. job growth slowed more than expected in August, which could make the Federal Reserve cautious about raising interest rates again this year.

Wall Street edges up as rate-hike bets in check after jobs data

NEW YORK (Reuters) - Wall Street gained modestly on Friday as a tepid U.S. jobs report kept expectations muted for another interest rate hike this year, while investors kicked off a typically dour month for stocks on a positive note.

Harvey not likely to weigh much on farm freight, logistics: Cargill CEO

MEXICO CITY (Reuters) - Global commodities trader Cargill Inc [CARG.UL] does not expect a significant impact on freight costs or logistics from the massive flooding caused by Hurricane Harvey in Texas and Louisiana, its top executive said on Friday.

Harvey's wake tempers bullish outlook for U.S. oil output growth

HOUSTON (Reuters) - Damage and delays from Tropical Storm Harvey will hold the U.S. oil industry back from achieving a targeted 10 million barrels per day of production anytime soon, according to analysts, a setback in America's fight for global market share with OPEC.

Retail U.S. gasoline prices surge after Harvey, global impact felt

HOUSTON/NEW YORK (Reuters) - Retail U.S. gasoline prices surged to two-year highs on Friday and global shipping routes were scrambled, even as some of the nation's oil refineries began restarting in the wake of Hurricane Harvey.

Automaker shares rise as Texans must replace drowned cars

DETROIT (Reuters) - Shares of the Big Three Detroit automakers rose on Friday despite lackluster August sales, with investors focusing on a likely surge in demand as residents of the U.S. Gulf Coast replace flood-damaged cars and trucks.

U.S. gasoline in first slide since Harvey, oil under pressure

NEW YORK (Reuters) - Benchmark U.S. gasoline prices slid for the first day since Hurricane Harvey struck the U.S. oil industry heartland, as some refineries restarted operations, while oil prices remained under pressure and settled about flat.