Friday 16 February 2018

S&P 500 caps off strongest week in five years

S&P 500 caps off strongest week in five years

NEW YORK (Reuters) - The S&P 500 ended marginally higher on Friday and closed out its fastest-climbing week since 2013, although it surrendered most of its earlier gain for the day after a U.S. grand jury indicted several Russians for meddling in the 2016 presidential election.

GE faces shareholder lawsuit over insurance shortfall, SEC probe

NEW YORK (Reuters) - General Electric Co was sued on Friday by a shareholder who accused the conglomerate of concealing mounting insurance liabilities and a U.S. Securities and Exchange Commission probe, saying it cost shareholders tens of billions of dollars.

Tesla delays, tax credit concerns spur sales of Chevy Bolts

SAN FRANCISCO (Reuters) - Some potential buyers of Tesla's long-delayed Model 3 sedan are concerned that they will miss out on big federal tax breaks and are looking for alternatives, including General Motors Co's Chevrolet Bolt, according to postings by would-be Tesla buyers on websites and interviews with GM dealers.

Backstory: Warren Buffett's Valentine's Day surprise for investors

NEW YORK (Reuters) - Warren Buffett had a Valentine's Day surprise for investors in Teva Pharmaceutical Industries Ltd .   

Wynn Resorts says ex-CEO Steve Wynn not entitled to severance pay

(Reuters) - Wynn Resorts Ltd said on Friday that former Chief Executive Officer Steve Wynn was not entitled to severance payments or any other compensation.

Coca-Cola sales beat on strong sales of vitamin water, coffee

(Reuters) - Coca-Cola Co reported better-than-expected quarterly profit and sales on Friday as it sold more teas, coffees and vitamin water, offsetting sluggish sales of fizzy drinks, sending its shares up as much as 2 percent.

Uber plans to sell Southeast Asia business to Grab: CNBC

(Reuters) - Uber Technologies [UBER.UL] is preparing to sell its Southeast Asia ride-hailing business to Singapore-based Grab in return for a substantial stake in the company, CNBC reported, citing two sources familiar with the matter.

Qualcomm says open to more deal talks with Broadcom following meeting

(Reuters) - Qualcomm Inc on Friday called a meeting with Broadcom Ltd to discuss the latter's $121 billion bid constructive and opened the door to more talks, but continued to reject the proposed deal between the semiconductor companies.

Intel hit with 32 lawsuits over security flaws

(Reuters) - Intel Corp said on Friday shareholders and customers had filed 32 class action lawsuits against the company in connection with recently-disclosed security flaws in its microchips.

Trader sues Fidelity over website glitch during market rout

BOSTON (Reuters) - A New Jersey trader filed a lawsuit against Fidelity Investments, accusing it of "gross negligence" because he could not make trades on the company's website earlier this month during a volatile time on the stock market.

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