Category: Business

  • Chinese internet stock sell-off may shake faith in FANGs

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    SAN FRANCISCO  – A steep downturn in heavyweight Chinese internet stocks and recent weakness in half of the so-called FANG group have some investors worried that a key component of Wall Street’s near-decade long rally may be low on fuel. Outstanding gains in Facebook (FB.O), Amazon (AMZN.O), Netflix (NFLX.O) and Alphabet (GOOGL.O) have underpinned much […]

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  • Trump asks SEC to consider switch to half-year corporate filings

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    NEW YORK/WASHINGTON – U.S. President Donald Trump on Friday said meetings with corporate executives had prompted him to ask the U.S. Securities and Exchange Commission (SEC) to study letting public companies file financial reports every six months instead of every quarter. Half-yearly reporting would mark a huge change in U.S. disclosure requirements and put it […]

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  • Walmart shares up 10% on news of online sales lift

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    Online sales at the US retail giant Walmart soared 40% in the last three months helping boost overall sales to $128bn (£101bn). Walmart shares jumped 10% ahead of the opening of the New York stock market. President and chief executive Doug McMillion said: “We’re leveraging stores and e-commerce to make shopping faster and more convenient.” […]

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  • Garbage companies are refusing your recycling. The trade war with China will make it worse

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    Across the Bay Area, recycling companies are in a crunch to find places overseas where they can sell plastic yogurt cups and junk mail flyers. China had been a big buyer of reclaimed refuse but recently tightened its rules on the products it accepts, requiring the various materials to be rigorously separated and much cleaner […]

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  • Erdogan says Turkey will boycott U.S. electronics, lira steadies

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    ISTANBUL (Reuters) – President Tayyip Erdogan said on Tuesday that Turkey would boycott electronic products from the United States, retaliating in a row with Washington that helped drive the lira to record lows. The lira has lost more than 40 percent this year and crashed to an all-time low of 7.24 to the dollar on […]

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  • Wall St. slips as Turkey’s currency worries hurt bank stocks

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    U.S. stock indexes fell on Monday as a plummeting Turkish lira weighed on shares of big U.S. lenders, but losses on the Nasdaq were limited by high-flying companies such as Apple and Amazon that hit record highs. The financials .SPSY slipped 0.63 percent as U.S. bank stocks, like its European counterparts, bore the brunt of […]

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  • Trump backs boycott of Harley Davidson in steel tariff dispute

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    WASHINGTON  – President Donald Trump backed boycotting American motorcycle manufacturer Harley Davidson Inc (HOG.N) on Sunday, the latest salvo in a dispute between the company and Trump over tariffs on steel. The Wisconsin-based motorcycle manufacturer announced a plan earlier this year to move production of motorcycles for the European Union from the United States to […]

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  • Wall Street ends lower as Turkey woes hit banks

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    NEW YORK (Reuters) – U.S. stocks slid on Friday as a deepening economic crisis in Turkey dragged on bank shares and triggered a move out of riskier assets. The Dow and S&P 500 posted declines for the week following five straight weeks of gains, but the S&P 500 remains just 1.4 percent below its record […]

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  • After stint at Tesla, Doug Field returns to Apple to work on Project Titan w/ Bob Mansfield

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    After leaving in 2013 to join Tesla, Doug Field has now made his way back to Apple. As noted in a report from Daring Fireball, Field is returning to Apple to work alongside Bob Mansfield on Apple’s Project Titan car team… While Apple confirmed that Field is now back at the company, Apple did not confirm that […]

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  • Trump administration to seize stake in Chinese-owned building

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    The Trump administration, as part of a crackdown on certain US investments made by Chinese companies, is set to snatch a majority stake in 850 Third Ave., The Post has learned. The stake is owned by HNA, the deep-in-debt Chinese conglomerate — and its US partner in the building is desperate to save it. The […]

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