Federal Communications Commission Chairman Ajit Pai said on Wednesday he stands by the decision to refer Sinclair Broadcast Group Inc’s $3.9 billion proposed acquisition of Tribune Media Co for review by an administrative law judge despite critical comments from U.S. President Donald Trump.
Traders in the U.S. options market braced for a large near-term move in the shares of chipmaker Qualcomm Inc and NXP Semiconductors with hours to go before the deadline to get China’s nod for a $44 billion (33.42 billion pounds)deal. San Diego-based Qualcomm needs Chinese approval for the deal because the country accounted for nearly two-thirds of its global revenue last year, but Sino-U.S. trade tensions have raised the prospect that the deal could be scuppered. Qualcomm, the world’s biggest maker of chips for mobile phones, and Dutch chipmaker NXP said in April they would call off the …read more […]
U.S. President Donald Trump and the European Union’s chief executive, Jean-Claude Juncker, both expressed a desire on Wednesday to cut tariffs and ease trade transatlantic trade tensions as a high-stakes White House meeting got underway.
Traders in the U.S. options market braced for a large near-term move in the shares of chipmaker Qualcomm Inc and NXP Semiconductors with hours to go before the deadline to get China’s nod for a $44 billion deal.
Former Fiat Chrysler CEO Sergio Marchionne, who rescued the Italian and U.S. companies and built them into the world’s seventh-largest carmaker, has died, the news breaking moments before the group reported a heavy fall in profit on Wednesday. The announcement of the death of Marchionne, 66, one of the auto industry’s most tenacious and respected CEOs, drew tributes from rivals and tears from his closest colleagues, a collective grief that overshadowed a big sell-off in Fiat Chrysler shares. Marchionne had fallen gravely ill after what the company had described as shoulder surgery at a Zurich hospital. …read more […]
Cue reverse split. Cue selloff. …read more […]
U.S. President Donald Trump said on Wednesday he hopes to work out a fair and reciprocal trade deal between the United States and Europe as he welcomed the head of the European Commission to the White House for talks.
The European Union’s chief executive was set to confront U.S. President Donald Trump on Wednesday over Trump’s efforts to impose car tariffs, with the high stakes meeting seen as a potential first step in launching more comprehensive trade talks.
The benchmark S&P 500 and the Nasdaq rose on Wednesday on gains in technology stocks, while Boeing’s disappointing results weighed on the Dow Jones Industrial Average.
Green Thumb Industries had a business plan, expertise and plenty of ambition to grow its marijuana business. The Canadian Securities Exchange is quickly becoming the go-to place for U.S. cannabis companies orphaned by their own stock exchanges because the U.S. government still considers marijuana an illegal drug. Green Thumb took over a publicly traded Canadian company, added an “Inc.” to its name and went public. …read more […]
The strong air-travel business continues to give a lift to Boeing, as the aircraft maker reported Wednesday that second-quarter profit rose 26 percent to $2.2 billion. Boeing Co. raised its forecast for full-year revenue but left its profit outlook unchanged, reflecting continuing hitches in its program to build a new refueling tanker for the U.S. Air Force. Chicago-based Boeing delivered 194 airline jets in the quarter, 11 more than a year earlier, and booked 239 new orders including 91 higher-priced widebody aircraft. …read more […]
Facebook said on Tuesday it planned to create an “innovation hub” to support local start-ups. The subsidiary was registered in Hangzhou, according to a filing approved on China’s National Enterprise Credit Information Publicity System last week and seen by Reuters on Tuesday. A Chinese government database showed that Facebook had gained approval to open a subsidiary. …read more […]
Many investors and competitors know Amazon (AMZN) as an e-commerce power helping reshape the retail world. Meanwhile, tech companies from Microsoft (MSFT) to Google (GOOGL) have struggled against Amazon’s AWS cloud computing business for years. But, just how important is AWS to Amazon and how much will it grow in the second quarter? …read more […]
Tariffs were partly to blame for lowered full-year forecasts by General Motors Co (GM.N) and Fiat Chrysler Automobiles NV (FCA) (FCHA.MI)(FCAU.N), pummelling the stocks of both automakers on Wednesday as investors feared escalating trade disputes would hurt margins and sales. GM cited higher steel and aluminium costs for its 2018 profit forecast reduction as a result of tariffs imposed by U.S. President Donald Trump’s administration, sending its shares down 7 percent. Stevens told analysts GM would partially offset the commodity hit by negotiating price reductions with suppliers, raising prices on more popular models, and cost cutting. …read more […]
A three-day world stock market rally threatened to stall on Wednesday as investors fretted over the impact of tariffs on corporate earnings and awaited a meeting between U.S. and European officials that could inflame a trade war.
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