Business News
Qualcomm will not exit data center business, chip chief says
(Reuters) – Qualcomm Inc has no plans to abandon its efforts to create processors for data centers, the company’s president, who oversees the chip division, said.
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Business News
Oil prices fall on prospect of rising supplies
SINGAPORE (Reuters) – Oil prices fell on Wednesday, pulled down by rising supplies in the United States and expectations that voluntary production cuts led by producer cartel OPEC could be loosened.
Business News
Blackstone in agreement to acquire Australia’s Investa Office Fund for $2.3 billion
(Reuters) – Australia’s Investa Office Fund (IOF) and Blackstone Group on Wednesday entered into a scheme implementation agreement through which the U.S. private equity giant would acquire real estate investment trust for A$3.08 billion ($2.3 billion).
Business News
Sorrell’s downfall set to dominate WPP investor meeting
LONDON (Reuters) – Investor anger over the departure of WPP boss Martin Sorrell will burst into the open on Wednesday when shareholders tackle management over its handling of a boardroom battle that has gripped the British corporate scene.
Business News
S&P 500 ends up; Time Warner shares jump after hours
NEW YORK (Reuters) – The S&P 500 and Nasdaq ended higher on Tuesday, boosted by gains in the technology and utilities sectors, and shares of media and telecom companies jumped in extended trade after AT&T won court approval to buy Time Warner.
Trading Ideas
Why Tesla Had a Roller-Coaster Day
An analyst got bullish on Model 3 production, and then Tesla announced a round of layoffs. …read more […]
Business News
Guess Chairman Paul Marciano resigns after probe into improper conduct
(Reuters) – Guess Inc said on Tuesday its co-founder, Paul Marciano, had resigned as the company’s executive chairman after a special committee completed an investigation into allegations of improper conduct.
Trading Ideas
Despite Parts Rumors, Apple Inc. Stock Is Still a Long-Term Buy
The annual dance of supply chain rumors has caught Apple Inc. (NASDAQ:AAPL) short of the $1-trillion market cap level. Shares dropped $3 overnight on Jun. 7, a loss of nearly $15 billion in market cap, after reports from Japan that the company is planning to ship 80 million iPhones next year, down from 100 million. The company sold 217 million phones, including older models, during the fiscal year ending last September, and 129.5 million for the six months ending in March. …read more […]
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Judge OKs AT&T-Time Warner merger
A federal judge on Tuesday gave the green light to AT&T’s (T) $85 billion acquisition of Time Warner (TWX), in a case that has captivated deal-watchers because it involves a vertical merger. …read more […]
Trading Ideas
Netflix and Alphabet will need to become ISPs, fast
This week completely scrambled the video landscape, and its implications are …read more […]
Business News
Dissident doyen set to rejoin Fed’s rate-setting panel
SAN FRANCISCO (Reuters) – The U.S. central bank’s staunchest advocate for faster interest-rate hikes is set to regain the power to vote at the Federal Reserve’s rate-setting meetings starting next month, but the shift is unlikely to mean faster rate hikes under Chair Jerome Powell.
Business News
AT&T wins court approval to buy Time Warner over Trump opposition
WASHINGTON (Reuters) – AT&T Inc won approval from a U.S. court on Tuesday to buy Time Warner Inc for $85 billion, dealing a blow to U.S. President Donald Trump’s administration which tried to block the deal and likely setting off a wave of corporate mergers.
Business News
Bitcoin sinks to two-month low as downtrend persists
NEW YORK (Reuters) – Bitcoin fell to a two-month low on Tuesday, sliding in three of the last four sessions on nagging regulatory and security concerns after the weekend hacking of South Korean cryptocurrency exchange Coinrail.
Business News
Guess Chairman Paul Marciano reigns after probe into improper conduct
(Reuters) – Guess Inc said on Tuesday its co-founder, Paul Marciano, had resigned as the company’s executive chairman after a special committee completed an investigation into allegations of improper conduct.
Business News
AT&T wins U.S. court approval to buy Time Warner for $85 billion
WASHINGTON (Reuters) – AT&T Inc won approval from a U.S. court on Tuesday to buy Time Warner Inc for $85 billion, without conditions, allowing AT&T to compete with internet companies that dominate digital advertising and providing new sources of revenue.