Reuters - Daily Investor Update

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Thursday, July 13, 2017

World shares rise to fresh peak; oil gains

NEW YORK (Reuters) - Upbeat data helped send world shares to a fourth all-time high in less than a month on Thursday as Wall Street edged higher in anticipation of solid earnings, while crude oil gained on evidence of stronger demand in China.

Delta's profit tumbles on higher costs; passenger unit revenue rises

(Reuters) - Delta Air Lines Inc on Thursday reported a 21 percent drop in second-quarter profit because of sharply higher labor and fuel costs, despite higher passenger unit revenue, sending its shares down 2 percent.

Boeing trade complaint won't slow CSeries deliveries: Delta CEO

MONTREAL/NEW YORK (Reuters) - Delta Air Lines will not delay its 2018 deliveries of CSeries planes from Canada's Bombardier Inc , the carrier's chief executive said on Thursday, following an anti-dumping complaint by Boeing Co against the jets.

Vanguard CIO Buckley to take over as CEO from McNabb Jan. 1

BOSTON (Reuters) - Vanguard Group, the world's largest mutual fund manager, said on Thursday Chief Executive Bill McNabb will step down at the end of the year and be replaced by Chief Investment Officer Tim Buckley, betting on the internal successor to oversee rapid growth.

Banks lead Wall Street higher ahead of earnings

NEW YORK (Reuters) - U.S. stocks posted muted gains on Thursday, with financials giving the S&P 500 a bump a day ahead of earnings reports from several big U.S. banks.

Investors bullish on financials ahead of bank earnings

NEW YORK (Reuters) - Over the last seven trading days, investors have more than doubled the amount of cash invested in a key financial sector fund, in a bet that second-quarter bank earnings will be robust.

FanDuel, DraftKings scrap troubled merger

WASHINGTON (Reuters) - Daily fantasy sports companies FanDuel and DraftKings scrapped a plan to merge on Thursday following a legal challenge by U.S. antitrust enforcers.

Music streamer SoundCloud has cash until fourth quarter after layoffs

FRANKFURT (Reuters) - SoundCloud, the world's biggest music-streaming service, is still struggling to find a business model - it now has just enough cash to last until fourth quarter, after laying off 40 percent of its staff, a representative said on Thursday.

Airbus says row over Austria Eurofighter order harming industry

VIENNA (Reuters) - Airbus has said a row over Austria's deal to buy Eurofighter planes was undermining the reputation of suppliers to Europe's aerospace industry and any effort to criminalize their work was unacceptable.

Oil rises as robust Chinese demand seen helping drain glut

NEW YORK (Reuters) - Oil prices rose 1.3 percent on Thursday after much stronger demand in China overshadowed a downbeat report by the International Energy Agency (IEA) that showed higher production by key OPEC exporters.