The Traderszone Network

Google (GOOGL.O) surged 16.26 percent to end at an all-time high of $699.62, a day after reporting strong ad revenue growth. It was Google’s largest one-day percentage gain since April 2008. Facebook (FB.O) rose 4.53 percent to a record high of $94.97 on hopes that it could mirror Google’s ad growth.

LONDON/MILAN (Reuters) – Fiat Chrysler Automobiles (FCA) (FCHA.MI) is considering whether to sell its auto parts maker Magneti Marelli after receiving interest from potential buyers, according to sources familiar with the matter. A recent offer, by a group including a U.S. buyout fund and valuing the business at less than 2.5 billion euros ($2.7 billion), was rebuffed in June as FCA would not agree to sell for less than 3 billion euros, one of the sources said.

German lawmakers gave their go-ahead on Friday for the euro zone to negotiate a third bailout for Greece, but a warning from Chancellor Angela Merkel that the alternative was chaos failed to prevent a hefty rebellion in her own party. The Bundestag, the lower house of parliament, whose backing was essential for the talks to start, decisively approved the move by 439 votes to 119, but almost a fifth of Merkel’s conservatives voted ‘No’.

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Google’s class A shares chalked up their largest single-day percentage change in more than seven years on Friday. The rise in Google’s market value was more than the total market capitalization of Caterpillar Inc (CAT.N), the world’s biggest construction equipment maker. Google’s shares hit a record high of $703, valuing it at $471.50 billion and cementing its position as the world’s second most valuable company after Apple Inc (AAPL.O).

The lawsuits by the city of Los Angeles and by Cook County, Illinois, which includes Chicago, accused Wells Fargo of steering black and Hispanic borrowers into higher-cost loans, a process sometimes called “reverse redlining”. Los Angeles and Chicago are the second- and third-most populous U.S. cities.

The Massachusetts attorney general’s office is examining how Uber and Lyft ensure equal access for people with disabilities, a spokeswoman for the attorney general told Reuters, adding to numerous other business issues facing the two companies. Disabilities rights activists have questioned how Uber Technologies Inc [[UBER.UL] and Lyft drivers handle passengers in wheelchairs and the blind, but the Massachusetts inquiry appears to be the first from an attorney general, opening a new area of scrutiny for the companies.

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U.S. consumer prices rose for a fifth straight month in June as the cost of gasoline and a range of other goods increased, further signs of firming inflation that strengthen the case for an interest rate hike this year. Federal Reserve Chair Janet Yellen this week affirmed the U.S. central bank was keen to start raising interest rates later this year. The Labor Department said its Consumer Price Index rose 0.3 percent last month after increasing 0.4 percent in May. Last month’s increase pushed the year-on-year CPI rate into positive territory for the first time since December.