Reuters - Daily Investor Update

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Monday, September 4, 2017

Texas moves toward post-Harvey recovery as evacuation order lifted

HOUSTON (Reuters) - Authorities lifted an evacuation order for the area surrounding a once-burning chemical plant and a major fuel pipeline reopened on Monday as Texas edged toward recovery from the devastation of Hurricane Harvey.

Ship traffic could resume Tuesday at Port Arthur, Texas: U.S. Coast Guard

HOUSTON (Reuters) - The U.S. Coast Guard on Monday allowed some barge traffic to enter Port Arthur, Texas, home of the country's largest oil refinery, and is considering allowing ships to enter on Tuesday, a spokesman said.

Exclusive: VW's $1.8 billion Ducati sale stalls at union roadblock, strategy rift

LONDON/MILAN/BERLIN (Reuters) - German carmaker Volkswagen has put the 1.5 billion-euro ($1.8 billion) sale of Ducati motorcycles on hold after resistance from German trade unions and internal rifts on strategy, sources familiar with the matter told Reuters.

U.S. crude edges higher, gasoline tumbles after Harvey

NEW YORK (Reuters) - U.S. crude oil prices edged higher on Monday while gasoline prices slumped to pre-Hurricane Harvey levels, as oil refineries and pipelines in the U.S. Gulf Coast slowly resumed activity, easing supply concerns.

No need to consider release of oil stocks after Harvey: IEA

VIENNA (Reuters) - The International Energy Agency (IEA) still sees no need for a coordinated international release of oil stocks after Hurricane Harvey disrupted a large chunk of U.S. refining and some production facilities, IEA boss Fatih Birol said on Monday.

Houston port continues salvage efforts to recover from Harvey damage

HOUSTON (Reuters) - Salvage efforts continued on Monday to remove a sunken drydock in an industrial portion of the Houston Ship Channel, home to major oil refineries and petrochemical plants, officials said.

House to consider disaster aid Wednesday

WASHINGTON (Reuters) - The U.S. House will consider a disaster relief package on Wednesday in wake of Hurricane Harvey that led to massive flooding in Texas and has been blamed for at least 50 deaths, the House majority leader's office said Monday.

Enter the Draghi

FRANKFURT (Reuters) - The spotlight shines on Mario Draghi once again.

How fair is our food? Big companies take reins on sourcing schemes

LONDON (Reuters) - From cocoa to tea, food and drink giants are setting their own standards for ethical sourcing of raw materials, moving away from third-party labels such as Fairtrade.

WTO reverses Boeing 777X tax credit ruling in blow to EU

PARIS/GENEVA (Reuters) - The World Trade Organization has reversed a ruling that Boeing received prohibited support for its newest aircraft, dealing a blow to the European Union in its long-running row with the United States over subsidies.