Finance

Facebook leads tech slump that weighs on USA stock indexes

Facebook leads tech slump that weighs on USA stock indexes Horton jumped 6 percent to $41.92 after the homebuilder reported solid quarterly results. USA stocks reversed direction to move into the red in early afternoon trade Friday as tech stock losses overshadowed the release of bullish economic data. [Full Article...]

European Union and USA reach an agreement on trade

European Union and USA reach an agreement on trade On Wednesday he moved to ease tensions with the European Union, declaring a truce on that front after meeting with Juncker. Klöckner, speaking to Reuters on the sidelines of a G20 meeting in Buenos Aires, said the amount of soy Europe will import is yet to be determined. [Full Article...]

Disney, Fox deal will result in blockbusters, IMAX CEO says

Disney, Fox deal will result in blockbusters, IMAX CEO says With the merger's approval, the possibilities are now endless, and the idea of The Avengers , Fantastic Four and X-Men all together in one film is now a real possibility. The Murdoch family, which holds 17 percent of Fox's outstanding shares, could come away with Disney stock valued at more than $12 billion. In addition to the film and TV studios and certain character rights, Disney will ... [Full Article...]

Facebook could lose $151 billion in market capitalization today

Facebook could lose $151 billion in market capitalization today Shares closed down almost 19% at $176.26, wiping more than $120 billion off the company's value or nearly four times the entire market capitalisation of Twitter . The social media giant revealed in its second quarter results that its monthly active user numbers across all of its platforms had grown to 2.23bn at an increase of just 11 per cent, falling short of consensus estimates of 2.25bn as pol... [Full Article...]

World's oldest person, a Japanese woman, dies at 117

World's oldest person, a Japanese woman, dies at 117 She was born in Wecam in the Kansai area, Japan , 2 may 1901. She assumed the title of the world's oldest living person after the death in April of Nabi Tajima , who was also 117. This week, the Japanese Health Ministry announced that Miyako died July 22. He late husband Shoji worked for Japanese National Railways, which gave her a passion for travelling. [Full Article...]

Canada, Mexico say free trade deal must include US

Canada, Mexico say free trade deal must include US Commerce Secretary Wilbur Ross on Thursday said the Trump administration is turning all of its attention to Mexico to quickly renegotiate the North American Free Trade Agreement (NAFTA). "This is more pointing to the likelihood that the Americans would not move on the 232 auto tariffs before the election", Ciuriak said. In other words, if the three countries don't strike a deal until September o... [Full Article...]

China withdraws approval for Facebook’s planned venture

China withdraws approval for Facebook’s planned venture On 24 July, Facebook announced plans to create an "innovation hub" to support China startups and developers. The subsidiary has cost Facebook around $30 million and it's listed as a wholly owned by Facebook Hong Kong Limited in Hangzhou, according to a business filing seen by Reuters . [Full Article...]

Kudlow: Europe Agreed to Help Us Confront China

Kudlow: Europe Agreed to Help Us Confront China Traveling to farm country rattled by his trade wars , President Trump boasted Thursday that he has opened up European markets for US farmers and promised to approve a federal waiver for the sale of gasoline containing 15-percent ethanol. All of the farmers interviewed said they voted for Trump. In Dubuque, Trump described the agreement as "no tariffs, no nothing, free trade". China and other Un... [Full Article...]

Bitcoin drops as United States regulators reject Winklevoss ETF plan

Bitcoin drops as United States regulators reject Winklevoss ETF plan While every investor and crypto-enthusiast has been espousing "institutional money" that has yet to throw its weight behind cryptocurrency , Hayes points out that most big-money and Wall Street players are waiting for greater clarity from government authorities before taking the plunge. [Full Article...]

France sounds cautious note after crunch European Union talks with US

France sounds cautious note after crunch European Union talks with US The U.S. has imposed tariffs on the metals, again justifying the action on national-security grounds. Every market is an important one, particularly China, which imports one of every three rows of US soybeans. 'They're going to be a massive buyer of LNG, so they'll be able to diversify their energy supply, ' Trump said of Europe. An unnamed official said the European Union sided with Mr Trump ... [Full Article...]

Trump Claims Victory as GDP Grows at Fastest Pace Since 2014

Trump Claims Victory as GDP Grows at Fastest Pace Since 2014 The US is experiencing an "economic turnaround of historic proportions", the President said. "It'll be hard to repeat this performance on a sustained basis". Back in 2016, CNN even ran a story with this headline: "Trump promises 4% growth". Growth in consumer spending, which accounts for more than two-thirds of USA economic activity, increased at a 4.0 percent rate in the second quarter. [Full Article...]

Facebook loses $119 billion in market value

Facebook loses $119 billion in market value According to Forbes 2018 billionaire list, Mark Zuckerberg was the fifth wealthiest American in 2018 - with $71 billion net worth. An executive also warned it expects revenue growth to slow down in the next couple of quarters. A drop in share price lowered the value of Facebook by a massive $118 billion - a record-breaking one-day drop in the value of a company. Some investors were also dismay... [Full Article...]

Twitter Stock Plummets 15 Percent After it Purged Fake Accounts

Twitter Stock Plummets 15 Percent After it Purged Fake Accounts Almost $7 billion was wiped off the value of Twitter yesterday after the social network said that its user base had shrunk unexpectedly in the second quarter and would continue to contract. "We want people to feel safe freely expressing themselves and have launched new tools to address problem behaviors that distort and distract from the public conversation". [Full Article...]

Facebook CEO, Zuckerberg, loses $15bn in one day

Facebook CEO, Zuckerberg, loses $15bn in one day Facebook's growth is slowing with users in some of its most lucrative markets. The social media company's financial results, released late Wednesday, fell short of Wall Street expectations as the company continues to grapple with privacy issues. [Full Article...]

United States vehicle tariffs still aren't off the table, warns German industry group

United States vehicle tariffs still aren't off the table, warns German industry group President Donald Trump's threats to extend those measures to European cars. Trump has placed tariffs on imported steel and aluminum, saying they pose a threat to US national security, an argument that the European Union and Canada rejects. [Full Article...]

London cabbies to sue Uber for £1.25bn?

London cabbies to sue Uber for £1.25bn? Black-cab drivers were looking to sue the company for more than 1 billion euros, which is estimated to be upwards of 1,350,000,000 in US dollars. "We are in the very early stages of obtaining legal advice from leading law firm Mishcon de Reya on whether this is a possibility". [Full Article...]

4 types of Goldfish Crackers recalled, salmonella fears

4 types of Goldfish Crackers recalled, salmonella fears See the chart to see if you are included in the recall . Swiss rolls sold nationwide under the brand names Mrs. Freshley's, Food Lion, H-E-B, Baker's Treat, Market Square, and Great Value have been recalled . Symptoms include nausea, vomiting, abdominal cramps and diarrhea, according to the Centers for Disease Control and Prevention . Most people recover without treatment. [Full Article...]

Oil price shock on the way? | Oil Price

Oil price shock on the way? | Oil Price After meeting European Commission President Jean-Claude Juncker at the White House on Wednesday, U.S. President Donald Trump agreed to refrain from imposing auto tariffs while the European Union and the United States start talks on cutting other trade barriers. [Full Article...]

Fiat Chrysler CEO Sergio Marchionne, dies aged 66

Fiat Chrysler CEO Sergio Marchionne, dies aged 66 FCA said it has fixed-price contracts for most raw steel through 2018, but would see increases in 2019 at current prices. "So it's not going to happen until we close '18". Shortly after Marchionne's death was announced today Fiat Chrysler suspended trading in Milan. Sergio Marchionne was born in Chieti, Italy, in 1952. [Full Article...]

Facebook quietly sets up Chinese subsidiary

Facebook quietly sets up Chinese subsidiary The subsidiary will be wholly owned by Facebook Hong Kong Limited, a local sales office in Hong Kong which is not subject to the censorship of the mainland. However, as of press time , the search engine and its related sites remain blocked. Facebook had unobtrusively propelled a photograph sharing application called "Bright Balloons" for the Chinese market a year ago. [Full Article...]


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