By Wayne Cole SYDNEY (Reuters) - Asian shares recovered from an early bout of nerves while the Mexican peso surged on Tuesday as investors awarded the first U.S. presidential debate to Democrat Hillary Clinton over Republican Donald Trump. Markets have tended to see Clinton as the candidate of the status quo, while few are sure what a Trump presidency might mean for U.S. foreign policy, international trade deals or the domestic economy. Opinion polls have shown the two candidates in a very tight race, with the latest Reuters/Ipsos polling showing Clinton ahead by 4 percentage points, with 41 percent of likely voters.
By Alex Lawler and Rania El Gamal ALGIERS (Reuters) - Iran downplayed on Monday the chances of OPEC and non-OPEC oil producers clinching an output-restraint deal in Algeria this week even though several other members of the group said they still hoped for steps to tackle a price-eroding glut of crude. Oil prices have more than halved from 2014 levels due to oversupply, prompting OPEC producers and rival Russia to seek a market rebalancing that would boost revenues from oil exports and help their crippled budgets. The predominant idea since early 2016 among producers has been to agree to freeze output levels, although market watchers have said such a move would fail to reduce unwanted barrels.
July's sales pace was revised up 5,000 units to 659,000 units. Analysts said the level of sales generally supported their view of a strong underlying trend in new home sales and of a quickening pace of overall economic growth in the second half of the year. Following the new home sales release, analysts at Macroeconomic Advisers kept their estimate of third-quarter economic growth at 3 percent, a marked pickup from the first half of the year.
Crude futures slipped in Asian trade on Tuesday as investors took profits after prices climbed more than 3 percent in the previous session. The dollar was also weighing on oil prices after rising against a basket of currencies, suggesting markets were judging Democrat Hillary Clinton as the winner in the first U.S. presidential debate with Republican candidate Donald Trump. Major oil producers are gathering in Algeria for a three-day meeting that could see moves to cut or freeze oil output in an effort to support oil prices.
With speculation mounting that Twitter Inc will soon have a new corporate owner, the 10-year-old social networking service - which has long struggled to define its core purpose -may end up heading in one of several distinctly different directions depending on who ends up paying for it. Companies including Salesforce.com Inc , Walt Disney Co and Alphabet Inc's Google have shown interest in Twitter, which is working with investment banks to evaluate its options, according to people familiar with the matter. With Salesforce.com, Twitter might turn its focus to customer service communications and mining its database of tweets for business intelligence.
(Reuters) - A shareholder class action lawsuit was filed against Wells Fargo & Co on Monday that alleged the firm misled investors about its financial performance and the success of its sales practices. Robbins Geller Rudman & Dowd LLP announced the lawsuit and is seeking class action status on behalf of buyers of the company's shares between Feb. 26, 2014 and Sept. 15, 2016. The lawsuit, which was filed in the U.S. District Court of Northern California, comes nearly a week after Wells Fargo chief executive John Stumpf faced U.S. Senate lawmakers about his oversight at the bank.
(Reuters) - Elon Musk's SolarCity has been accused of intellectual property theft by Cogenra Solar Inc, a wholly owned subsidiary of SunPower Corporation , and Khosla Ventures. In a lawsuit filed in San Francisco on Monday, the parties accused SolarCity of gaining undue advantage of Cogenra's Shingling technology that helps in manufacturing high-efficiency commercially viable solar panels. SolarCity and its subsidiary Silevo misappropriated Cogenra's trade secrets, manufacturing processes, and other intellectual property to give themselves a competitive advantage and head start in developing shingled-cell solar modules, Cogenra said in the lawsuit.
Financial Center provides up-to-the minute news and market data, a directory of business services, and financial news from the most trusted news sources worldwide.
Visit our other 'Futures Trading' sites: