Stocks up slightly ... Pound falls ... Buffett bids
NEW YORK (AP) — U.S. stock indexes moved higher in early trading today, adding to the market’s modest gains from a day earlier. Banks and other financial stocks led the gainers. Energy companies also rose. Utilities stocks were the biggest laggard. The S&P 500 index gained 8 points to 2,442 as of 10:09 a.m. Eastern Time. The Dow Jones industrial average rose 75 points to 21,258. The Nasdaq composite index added 13 points.
LONDON (AP) — The pound fell sharply after Britain’s election saw the Conservatives lose their majority in parliament, raising questions about the next government’s ability to lead the talks to leave the European Union. The British currency lost as much as 3 cents against the dollar by today as the results confirmed exit poll predictions that Prime Minister Theresa May had failed in her gambit to gain a stronger majority for those Brexit talks.
PARIS (AP) — Brazilian cosmetics maker Natura is looking to buy The Body Shop from French owner L’Oreal for about $1.1 billion. Natura and L’Oreal say in statements that they are in “exclusive discussions” about the acquisition, which is subject to regulatory approval. L’Oreal bought The Body Shop in 2006. It said earlier this year it was exploring options for the U.K.-based company, which hasn’t performed as well as its parent company.
TOKYO (AP) — Japanese internet, solar and technology company SoftBank Group Corp. is buying robotics pioneer Boston Dynamics from Alphabet Inc., Google’s parent. Terms of the deal, announced today, were not disclosed. SoftBank, which offers the Pepper companion robot, said the purchase underlines how robotics is a key part of its business.
OMAHA, Neb. (AP) — The winning bid for a private lunch with billionaire Warren Buffett may top several million dollars in an online auction to benefit a California homeless charity that wraps up tonight. For the 18th consecutive year, Buffett is auctioning off a lunch to raise money for the Glide Foundation, which helps homeless people in San Francisco. Last year’s winner paid nearly $3.5 million, which tied the record set in 2012.