Stocks gain…Culprit suspected in Bezos leak…Reddit fundraising
BEIJING (AP) – Global stocks rose Tuesday following a listless day on Wall Street as investors looked ahead to U.S.-Chinese trade talks. Futures point to opening gains on Wall Street. Benchmark U.S. crude oil rose above $52.50 per barrel. The dollar gained against the yen and the euro.
WASHINGTON (AP) – A person familiar with the matter has told The Associated Press that private investigators working for Jeff Bezos have concluded that the brother of the Amazon CEO’s mistress leaked the couple’s intimate text messages to the National Enquirer. The findings add to the intrigue surrounding the clash between the pro-Trump tabloid and the world’s richest man. Bezos’ investigators have suggested the Enquirer’s coverage of his affair was driven by dirty politics.
SAN FRANCISCO (AP) – Social media service Reddit Inc. says it has raised $300 million in a financing round led by Chinese internet giant Tencent. Reddit’s CEO, Steve Huffman, told CNBC on Monday that he values the privately held company at $3 billion. Half the new money came from Tencent, Asia’s most valuable tech company. Other investors included Sequoia, Fidelity, Andreessen Horowitz, Quiet Capital, VY and Snoop Dogg.
ANCHORAGE, Alaska (AP) – Protesters in Alaska urged federal officials to keep oil rigs out of the Arctic National Wildlife Refuge despite a federal law requiring lease sales in the wilderness area. At a Bureau of Land Management environmental review hearing in Anchorage, Laura Herman urged that no drilling be allowed because of the effects of extraction on the region and the long-term effects of burning the fossil fuel. The U.S. Geological Survey estimates the plain holds 10.4 billion barrels of oil. Drilling supporters said additional production can be done in a manner that follows environmental law.
TOKYO (AP) – Nissan said Tuesday that its third quarter profit plunged to about a quarter of the previous year’s, partly due to special charges related to alleged false financial reporting by its former chairman, Carlos Ghosn. The main factor behind the sharp weakening in profit, however, was the absence of a lift from U.S. tax reforms that sharply boosted Nissan Motor Co.’s earnings in late 2017. Nissan cut its profit forecast for the fiscal year through March to 410 billion yen ($3.7 billion), down 45 percent on-year.