Business News
Retailers set sights on Facebook, Google ad revenue
People with hay fever hate dust. That was the premise of a marketing drive launched by British vacuum cleaner maker Dyson with U.S. retailer Target Corp.
Month: July 2018
Business News
Trump relents on EU car tariffs, as U.S.-China fight derails Qualcomm deal
In what the EU chief called a “major concession,” U.S. President Donald Trump agreed on Wednesday to refrain from imposing car tariffs while the two sides launch negotiations to cut other trade barriers, easing the threat of a transatlantic trade war.
Business News
Qualcomm’s $44 billion NXP offer deadline passes, no word from China
The deadline for Qualcomm Inc to buy NXP Semiconductors passed at midnight U.S. eastern time without any word on Chinese regulatory approval, likely shutting the door on a deal embroiled in a bitter U.S.-China spat.
Business News
Asian stocks creep higher, but weak growth worry caps gains
Asian stocks inched higher on Thursday as the United States and Europe agreed to negotiations to ease barriers on trade, but ongoing concerns about the outlook for global growth weighed on investor sentiment.
Business News
China’s Pinduoduo prices U.S. IPO at top of range, raises $1.6 billion: sources
HONG KONG (Reuters/IFR) – Chinese online group discounter Pinduoduo Inc priced its U.S. initial public offering (IPO) at $19 per American depositary share (ADS), raising $1.63 billion in the second-biggest U.S. float by a Chinese firm this year, according to three people familiar with the situation.
Trading Ideas
How Facebook’s $151 Billion Rout Could Rewrite the History Books
Facebook Inc. has racked up plenty of milestones in its pioneering journey. Now the social-media giant is poised to add one it would doubtless rather avoid: the biggest stock-market wipeout in American history. …read more […]
Trading Ideas
House conservatives move to impeach deputy attorney general
A group of 11 House conservatives on Wednesday introduced articles of impeachment against Deputy Attorney General Rod Rosenstein, the Justice Department official who oversees special counsel Robert Mueller’s Russia investigation. The move comes after months of criticism aimed at the department — and the Russia investigation in particular — from Trump and his Republican allies in Congress. Trump has fumed about Mueller’s probe and repeatedly called it a “witch hunt,” a refrain echoed by some of the lawmakers. …read more […]
Business News
China’s Pinduoduo raises $1.6 billion in range-topping U.S. IPO: sources
HONG KONG (Reuters/IFR) – Chinese online group discounter Pinduoduo Inc priced its U.S. initial public offering (IPO) at $19 per American depositary share (ADS), raising $1.63 billion in the second-biggest U.S. float by a Chinese firm this year, according to two people familiar with the situation.
Trading Ideas
Republican lawmakers launch move to impeach Justice Department’s Rosenstein
A group of Republican lawmakers on Wednesday introduced articles of impeachment to remove Deputy U.S. Attorney General Rod Rosenstein, escalating a fight over Special Counsel Robert Mueller’s investigation of alleged Russian meddling in the 2016 U.S. presidential election. Representatives Jim Jordan and Mark Meadows, who belong to the conservative House Freedom Caucus, joined nine other House members in accusing Rosenstein of hiding investigative information from Congress, failure to comply with congressional subpoenas and other alleged misconduct. Rosenstein, the No. 2 official at the Justice Department, has become a frequent punching bag for supporters of President Donald Trump for …read more […]
Business News
German industry warns U.S. auto tariffs not completely off table yet
A top German industry group gave a cautious welcome to solutions proposed by U.S. President Donald Trump and European Commission President Jean-Claude Juncker to avert a trade war, but warned that U.S. auto tariffs were not completely off the table yet.
Trading Ideas
Man bites dog: North Koreans eat dog meat to beat the heat
In North Korea, summer is not a good time to be a dog. In the sizzling heat, North Korea’s biggest brewery is pumping out twice as much beer as usual, Pyongyang residents are lining up to get their “bingsu” — a syrupy treat made with shaved ice — and restaurants are serving up bowl after bowl of the season’s biggest culinary attraction: spicy dog meat soup. …read more […]
Business News
Asian stocks inch up after Trump, Juncker pledge cuts to trade barriers
Asian stocks edged higher on Thursday, taking comfort from gains on Wall Street after U.S. President Donald Trump and European Commission President Jean-Claude Juncker agreed to work toward eliminating trade barriers on industrial goods.
Business News
Trump eases car tariff threat as U.S., EU launch talks to quell trade tensions
In what the EU chief called a “major concession,” U.S. President Donald Trump agreed on Wednesday to refrain from imposing car tariffs while the two sides launch negotiations to cut other trade barriers, easing the threat of a transatlantic trade war.
Business News
Facebook’s grim forecast: privacy push will erode profits for years
Facebook Inc’s shares lost as much as a quarter of their value on Wednesday after executives said that profit margins would plummet for several years due to the costs of improving privacy safeguards and slowing usage in the biggest advertising markets.
Business News
Qualcomm investors cheer end of NXP deal doomed by China-U.S. tensions
Qualcomm Inc , the world’s biggest maker of chips for mobile phones, said on Wednesday it would drop its $44 billion bid for NXP Semiconductors after failing to secure regulatory approval from China against a backdrop of widening trade tensions.