Reuters - Daily Investor Update

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Friday, June 9, 2017

British pound falls after UK election shock, dollar gains

NEW YORK (Reuters) - The British pound fell to a seven-week low on Friday after a shock election result cast doubt on Britain's talks to leave the European Union, but key indices hit fresh record highs before tumbling technology shares drove the Nasdaq and S&P 500 lower.

Nasdaq stumbles as tech stocks sell off

NEW YORK (Reuters) - Technology stocks sold off sharply on Friday, wounding the Nasdaq and holding down other major Wall Street indexes, which had touched record highs earlier in the session.

Sirius to invest $480 million in Pandora, may be path to music streaming

(Reuters) - Sirius XM Holdings Inc said on Friday it will invest $480 million in Pandora Media Inc , giving the satellite radio company better exposure to internet music streaming while providing financial footing to Pandora.

Exclusive: Nordstrom family launches search for buyout partner - sources

(Reuters) - A group of Nordstrom Inc family members is talking to buyout firms about raising $1 billion to $2 billion in equity to fund a potential bid to take the U.S. department store operator private, according to people familiar with the matter.

Oil rises as Nigerian pipeline leak overshadows supply worries

NEW YORK (Reuters) - Oil prices rose on Friday after a pipeline stoppage in Nigeria, but crude still ended the week down nearly 4 percent on persistent worries about global oversupply.

Apple dips after report that future iPhone modems could lag rivals

(Reuters) - Shares of Apple Inc fell more than 3 percent on Friday after Bloomberg News reported that iPhones launched later this year will use modem chips with slower download speeds than some rival smartphones.

Toshiba unconvinced by Western Digital's last-ditch chip bid

TOKYO (Reuters) - Toshiba Corp said on Friday it was not convinced by Western Digital Corp CEO Steve Milligan's effort to win its backing for the U.S. tech firm's revised bid for the Japanese conglomerate's highly prized chip unit.

U.S. trade body advances dumping probe against Bombardier, shares drop

WASHINGTON/MONTREAL (Reuters) - The U.S. International Trade Commission on Friday gave a green light to the U.S. Commerce Department to begin preparing anti-dumping and anti-subsidy duties against new jets from Bombardier Inc , sending the Canadian planemaker's stock down as much as 8 percent.

Porsche Cayenne diesel emissions exceed legal limits: Spiegel

FRANKFURT/HAMBURG (Reuters) - Diesel models of Volkswagen's sports car maker Porsche have much higher emissions than is legally allowed, German weekly Der Spiegel reported on Friday, citing test results.

Wilbur Ross seen imposing Mexico sugar deal over industry objections

WASHINGTON (Reuters) - U.S. Commerce Secretary Wilbur Ross is likely to impose a new sugar trade deal with Mexico even if final revisions to it fail to win support from the U.S. industry, trade lawyers and experts say.