Business News - The Last 24 Hours

Facing Trump's tariffs, some companies move, change or wait
Indiatimes - 24 min 56 sec ago
Trump launched the world's biggest trade war since the 1930s by imposing tariffs on $250 billion in Chinese goods and threatening to tax $300 billion more.

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Reuters - Trump's tariffs trip up the all-American RV industry - 5 hours 11 min ago

COMMENTARY:

MarketWatch - Economic Report: Fed’s Beige Book shows ‘widespread concerns’ on tariffs — but positive economic outlook - 21 hours 7 min ago

Evercore set to lose out as Aramco reshuffles IPO roles: sources
Reuters - 41 min 3 sec ago
Boutique investment bank Evercore Partners has lost the chance to retain a prime position as an independent advisor for Saudi Aramco's potential $100 billion share sale, as the oil giant revives its postponed listing, three sources said.

COMMENTARY:

Vox - San Francisco pulls the controversial “IPO tax” because it wasn’t simply an IPO tax - 21 hours 5 min ago

Wall St. dips as trade worries weigh; Netflix tumbles
Reuters - 44 min 43 sec ago
U.S. stock indexes edged lower on Thursday as investors awaited more developments around trade, while Netflix posted a surprise drop in U.S. subscribers, kicking off earnings for the FAANG group of stocks on a sour note.

Reuters - Netflix shares sink 11%, analysts still see growth - 2 hours 54 min ago

Fox Business - Netflix blames content slate for rare subscriber growth miss - 17 hours 16 min ago

New York Times - Netflix Stock Tumbles as Subscriber Growth Falls Far Below Expectations - 17 hours 56 min ago

BBC - Netflix shares sink 10% as subscriber take-up slows - 18 hours 5 min ago

COMMENTARY:

MarketWatch - The Ratings Game: Netflix stock slammed by subscriber miss, but analysts are unfazed - 2 hours 48 min ago

NY Post - Netflix shares plunge after rare slowdown in subscriber growth - 14 hours 6 min ago

The Japan Times - Netflix’s subscriber growth drops in quarter, stock tumbles - 16 hours 24 min ago

TechCrunch - Netflix will roll out a lower-priced subscription plan in India - 16 hours 27 min ago

Washington Post - Netflix Stumbles in Its Effort to Annex the World’s Eyeballs - 16 hours 41 min ago

BusinessInsider - Elon Musk's sister, Tosca Musk, runs a Netflix-like streaming service for romance novels turned into movies - 18 hours 4 min ago

Vox - Netflix thought it would have 5 million new subscribers this quarter. Instead it added 2.7 million. - 18 hours 39 min ago

The Guardian - Netflix shares fall 10% as streaming giant misses growth targets - 18 hours 43 min ago

24/7 Wall St. - Why Netflix Is in Trouble After This Q2 Report - 19 hours 2 min ago

Zero Hedge - Netflix Plummets After Subscriber Growth Hits A Brick Wall; US Subs Decline - 19 hours 9 min ago

VIDEO:

CNBC Video - Mark Mahaney: In near term, Netflix stock probably 'dead money' - 59 min 1 sec ago

Reuters Video - After Netflix jacks up price, some click off - 16 hours 24 min ago

This Fed member wanted a rate cut in June. Here's why
CNN - 47 min 52 sec ago
The market widely expects the Federal Reserve to cut interest rates at its next meeting on July 31. But that's a month too late, according to St. Louis Federal Reserve president James Bullard.

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Reuters - Danske Bank profit hit by higher costs, low interest rates - 8 hours 37 min ago

COMMENTARY:

Washington Post - Mortgage rates rise on expectation of Fed’s possible cut in short-term interest rates - 51 min 53 sec ago

MarketWatch - Howard Gold's No-Nonsense Investing: We haven’t seen interest rates this low since before Hammurabi, so what bonds should you buy? - 5 hours 33 min ago

Zero Hedge - Trump's Fight With The Fed Over Interest Rates Is A Scripted Farce - 17 hours 30 min ago

VIDEO:

CNBC Video - China may cut interest rates after the Fed moves: Credit Agricole - 8 hours 30 min ago

Oil steadies, shrugging off Iran's seizure of tanker in Gulf
Reuters - 1 hour 35 min ago
Oil initially rose more than 1% on Thursday after Iran said it had seized a foreign tanker in the Gulf, but prices gradually lost their gains as it emerged that the vessel had only a small cargo and was detained on Sunday for fuel smuggling.

RELATED:

Reuters - Oil rises after Iran says it seized foreign tanker in Gulf - 3 hours 20 min ago

COMMENTARY:

Zero Hedge - Oil Prices Plunge After Trump Sends Rand Paul To Ease Tensions With Iran - 21 hours 26 min ago

Wall Street opens lower as Netflix plunges
Reuters - 1 hour 48 min ago
U.S. stocks opened lower on Thursday as shares of streaming pioneer Netflix tumbled, kicking off earnings for the FAANG group of stocks on a sour note.

Reuters - Wall Street falls as railroads slide after CSX signals trade impact - 22 hours 22 min ago

COMMENTARY:

MarketWatch - The Wall Street Journal: Mnuchin says White House and Congress have agreed on ‘top-line’ spending levels - 1 hour 26 min ago

VIDEO:

CNBC Video - Netflix isn't growing as fast as Wall Street wants and the stock gets hit - 17 hours 42 min ago

Reuters Video - Wall Street falls as CSX drops - 18 hours 21 min ago

Ex-Defense chief: Google has a duty to US, not China, to 'take our values to the battlefield'
CNBC - 1 hour 57 min ago
The tech giant should be focusing its efforts in the U.S., says Ash Carter. "We're in debt to the society that we live in."

Reuters - Australian developer LendLease lands $15 billion project with Google; shares surge - 12 hours 43 min ago

VIDEO:

CNBC Video - Former Defense Secretary Ash Carter on treason accusations against Google - 1 hour 21 min ago

Morgan Stanley profit beats on wealth management gains, lower expenses
Reuters - 2 hours 9 min ago
Morgan Stanley reported a drop in quarterly profit but beat analysts' expectations on gains in its wealth-management business and lower expenses.

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Reuters - Morgan Stanley profit beats on wealth management focus - 3 hours 11 min ago

CNBC - Stocks making the biggest moves premarket: Morgan Stanley, UnitedHealth, Apple, Netflix & more - 3 hours 16 min ago

COMMENTARY:

24/7 Wall St. - Morgan Stanley Whiffs on Q2 Despite Bottom-Line Beat - 1 hour 34 min ago

Zero Hedge - Morgan Stanley Equity, FICC Trading, iBanking Revenues Tumble - 3 hours 19 min ago

MarketWatch - Tesla is getting China right, Morgan Stanley says - 23 hours 28 min ago

VIDEO:

CNBC Video - Morgan Stanley beats expectations on EPS, revenue - 3 hours 3 min ago

Dow futures point at third day of losses
CNN - 2 hours 18 min ago
Stock futures are pointing at a third day in the red for US equity markets, as more and more second quarter earnings are coming out.

RELATED:

Reuters - Futures edge lower as Netflix tumbles - 3 hours 29 min ago

COMMENTARY:

Zero Hedge - European Stocks, US Futures Rebound After ECB Said To Revamp Inflation Goal - 3 hours 50 min ago

VIDEO:

CNBC Video - US stock futures slightly lower on earnings and trade fears - 5 hours 25 min ago

Southwest removes Boeing 737 MAX from schedule until November 2, freezes pilot hiring
Reuters - 2 hours 20 min ago
Southwest Airlines Co joined U.S. rivals on Thursday in cancelling more flights until early November due to the continued grounding of Boeing Co's 737 MAX, which has also prompted the low-cost carrier to freeze new pilot hiring.

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Reuters - Korean Air to buy 20 Boeing 787s, lease 10 more - 5 hours 48 min ago

Indiatimes - Boeing to make $50 mln in payments to 737 MAX crash victims' families - 10 hours 54 min ago

CNN - Relatives of victims killed in 737 Max crashes accuse Boeing of prioritizing greed over safety - 21 hours 55 min ago

COMMENTARY:

Time Business - Could Your Cell Phone Really Crash Your Flight? On 2 Popular Boeing Jets, There’s a Risk - 2 hours 20 min ago

The Japan Times - Boeing to spend $50 million to support 737 Max crash victim families - 18 hours 24 min ago

VIDEO:

Reuters Video - Grieving father slams Boeing's 'wrongful conduct' in Congress - 23 hours 41 min ago

More than 50 companies reportedly pull production out of China due to trade war
CNBC - 2 hours 34 min ago
The pace of companies moving production out of China is accelerating, according to the Nikkei Asian review.

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Reuters - Global stocks slip as U.S.-China trade war drags on corporate earnings - 3 hours 38 min ago

SCMP - Standard Chartered cuts Hong Kong’s growth prospects through 2021 as US-China trade war puts the squeeze on city’s economy - 6 hours 24 min ago

CNN - Europe's biggest tech company is being hurt by the trade war - 6 hours 52 min ago

COMMENTARY:

MarketWatch - Asia Markets: Asian markets fall on economic red flags as trade-war standoff persists - 11 hours 28 min ago

TechCrunch - How a Hong Kong startup gets caught up in US-China trade war - 12 hours 31 min ago

A deep rate cut is required to battle ugly earnings trend, James Bianco says
CNBC - 2 hours 55 min ago
Market researcher James Bianco believes it's crucial to get a half point cut at the next Federal Reserve meeting.

RELATED:

Fox Business - Stock markets flat amid new China pessimism, disappointing Netflix 2Q earnings - 3 hours 41 min ago

Reuters - Goldman Sachs' equities-backed earnings results may pressure - 4 hours 16 min ago

CNN - Netflix miss; Trade and earnings; Markets slide - 5 hours 45 min ago

CNBC - Cramer: Earnings suggest business and consumer economies are 'out of sync' - 16 hours 59 min ago

COMMENTARY:

24/7 Wall St. - Why UnitedHealth Earnings Are Underwhelming - 1 hour 4 min ago

MarketWatch - Earnings Results: UnitedHealth raises full-year profit outlook after strong second quarter - 2 hours 34 min ago

Zero Hedge - Tech Wreck Looms As Valuations Decouple From "Startling" Decline In Earnings Expectations - 19 hours 40 min ago

VIDEO:

CNBC Video - Jim Cramer breaks down Netflix earnings as shares drop - 1 hour 11 min ago

Qualcomm Is Fined Again by European Regulators for Antitrust Behavior
New York Times - 3 hours 49 sec ago
The $272 million fine is for blocking a rival chip maker from the market. It is the second time in two years that E.U. authorities have penalized Qualcomm.

RELATED:

CNN - Europe fines Qualcomm $270 million for 'predatory pricing' - 3 hours 58 min ago

CNBC - Here are the biggest analyst calls of the day: Apple, Qualcomm, Exxon Mobil & more - 4 hours 16 min ago

Reuters - EU Commission fines Qualcomm for second time over market abuse - 5 hours 32 min ago

COMMENTARY:

24/7 Wall St. - Top Analyst Upgrades and Downgrades: AMD, Apple, Chipotle, Costco, Exxon, Netflix, Qualcomm, Ulta, US Bancorp and More - 2 hours 29 min ago

TechCrunch - Qualcomm hit with $271M EU fine over predatory pricing of baseband chips - 3 hours 2 min ago

Mnuchin: Call on trade with China counterparts set for Thursday, 'complicated issues' remain
CNBC - 4 hours 8 min ago
Treasury Secretary Steven Mnuchin said a call between U.S. and China trade officials is scheduled for later on Thursday.

SCMP - Tensions between US-China over trade, technology ‘persistent’, could last for years, BlackRock says - 13 hours 3 min ago

COMMENTARY:

Zero Hedge - Stalled Progress Raises Doubts About Prospects For US-China Trade Deal - 2 hours 50 min ago

MarketWatch - London markets slide as U.S.-China talks stall and pound rebounds on retail boost - 3 hours 56 min ago

NY Post - Don’t expect a trade deal with China before the 2020 election - 13 hours 29 min ago

Data leak of unemployment figures serious: Govt
Indiatimes - 4 hours 24 min ago
Minister of State for Planning and Statistics Rao Inderjit Singh termed the issue as "serious" and said data pertaining to unemployment figures was leaked ahead of its announcement in May this year.

COMMENTARY:

Calculated Risk - Weekly Initial Unemployment Claims increased to 216,000 - 2 hours 51 min ago

VIDEO:

CNBC Video - Unemployment in Australia could creep up in the near future: Economist - 8 hours 12 min ago

Samsung asks partners to stockpile Japanese components: source
Reuters - 4 hours 31 min ago
South Korea's Samsung Electronics has sent letters to local partners urging them to stockpile more Japanese components in case Tokyo expands its export restrictions, a source with knowledge of the matter said on Thursday.

RELATED:

Reuters - Truckmaker Volvo lifts market view, picks Samsung for batteries - 7 hours 2 min ago

Facebook's Libra is really a 'zuckbuck' says lawmaker
Fox Business - 4 hours 39 min ago
Still in its infancy, Libra is getting lambasted.

RELATED:

CNBC - Facebook needs to drop Libra and buy Square, Jim Cramer says - 16 hours 37 min ago

CNN - After a 16-month blackout, Chad is back on Facebook, Twitter and other social platforms - 17 hours 54 min ago

Indiatimes - US lawmakers challenge Facebook over Libra plan - 20 hours 54 min ago

COMMENTARY:

TechCrunch - Congressional testimony reveals some faults in Facebook’s digital currency plans - 8 hours 30 min ago

Zero Hedge - Facebook Won't Say Whether Banned Individuals Can Use Libra Despite Claiming To Be 'Politically Neutral' - 15 hours 50 min ago

The Guardian - US lawmakers hammer Facebook exec over Libra's threat to privacy - 16 hours 34 min ago

MarketWatch - Key Words: Facebook’s Libra could be more dangerous than 9/11, congressman says - 20 hours 38 min ago

LA Times - MS-13 used gruesome tactics, fake Facebook profile in reign of terror, prosecutors say - 20 hours 57 min ago

VIDEO:

CNBC Video - Facebook faces grilling in House committee hearing on Libra - 3 hours 58 min ago

Reuters Video - Facebook Libra gets a global slamming - 17 hours 25 min ago

BMW to pick new CEO, Zipse emerges as favorite
Reuters - 5 hours 6 min ago
BMW is set to name Oliver Zipse as its new chief executive, picking the manufacturing expert to help the German automaker make the shift to electric and self-driving cars and tackle new competition from technology giants.

Reuters - Novartis CEO sets aside $700 million to settle doctor bribery lawsuit - 8 hours 59 min ago

COMMENTARY:

Vox - Bernie Sanders’s years-long feud with Goldman Sachs’s former CEO is now part of his campaign - 4 hours 15 min ago

MarketWatch - Key Words: The CEO of railroad giant CSX says he’s baffled by the U.S. economy - 21 hours 28 min ago

VIDEO:

CNBC Video - Ebay CEO on earnings report: Soft gross merchandise volume not a concern - 57 min 1 sec ago

UK will plunge into recession if it leaves Europe without a Brexit deal
CNN - 5 hours 11 min ago
Leaving the European Union later this year without a Brexit deal would plunge the United Kingdom into recession.

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BBC - No-deal Brexit will cause UK recession, says fiscal watchdog - 6 hours 29 min ago

COMMENTARY:

MarketWatch - More women CEOs have been hired to replace men after the Great Recession — here’s what’s behind that dramatic growth - 1 hour 7 min ago

The Guardian - No-deal Brexit would plunge Britain into a recession, says OBR - 6 hours 36 min ago

VIDEO:

CNBC Video - CSX's disappointing earnings could be a sign of a freight recession - 22 hours 54 min ago

Raymond James upgrades Apple on 'increased conviction in a 5G iPhone'
CNBC - 5 hours 29 min ago
Raymond James upgraded Apple and said its most recent checks show Apple is preparing to bring a 5G iPhone to a wider range of models than previously thought.

RELATED:

CNN - Save big on Apple silicone and leather cases for iPhone Xs and Xs Max - 19 hours 30 min ago

COMMENTARY:

MarketWatch - The Ratings Game: Apple stock gets an upgrade as analyst sees ‘compelling’ reason to buy forthcoming iPhone models - 1 hour 38 min ago

TechCrunch - Apple gives a sneak peek of its new Peanuts series with ‘Snoopy in Space’ trailer - 18 hours 31 min ago

VIDEO:

CNBC Video - Raymond James upgrades Apple on positive 5G outlook - 2 hours 14 min ago

DealBook Briefing: Trade Talks Are Stalled Over Huawei
New York Times - 5 hours 30 min ago
Revived trade negotiations between the U.S. and China are said to be stuck as officials debate how much Washington should ease up on the company.

RELATED:

CNBC - China-US trade talks reportedly slow to a standstill over Huawei - 18 hours 35 min ago

COMMENTARY:

MarketWatch - European markets dragged down as U.S.-China trade talks hit Huawei hurdle - 5 hours 11 min ago

Zero Hedge - Stocks Slump Into Close As Trade Talks Stall Over Huawei; Silver Jumps, Crude Dumps - 19 hours 23 min ago

VIDEO:

CNBC Video - Jim Cramer: Huawei may be the defining issue in trade talks - 1 hour 9 min ago

Lagarde resigns from IMF — these Europeans could succeed her
Euronews - 7 hours 9 min ago
Due to an understanding between the US and Europe, the head of the IMF has always been European, while the World Bank has always been led by an American.

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Indiatimes - India's current account balance deficit grew to $68bn in 2018-19: IMF - 8 hours 24 min ago

CNBC - IMF sees dangers from trade tensions and says the dollar is overvalued - 13 hours 43 min ago

COMMENTARY:

MarketWatch - China not a trade villain, IMF says - 23 hours 25 min ago

Donald Trump slammed for tweet about hunting down Mumbai attack mastermind
Indiatimes - 7 hours 24 min ago
More than 160 people were killed in the four-day militant attacks. Saeed is designated a terrorist by the United States and the United Nations.

RELATED:

Indiatimes - The Latest: Trump says he has no regrets about tweets - 17 hours 24 min ago

CNN - White GOP congressman says he isn't offended by racist Trump tweets because 'I'm a person of color' - 20 hours 13 min ago

COMMENTARY:

Vox - The controversy over whether the media should call Trump’s racist tweets “racist,” explained - 1 hour 25 min ago

What Brexit could mean for the US economy
CNBC - 10 hours 20 min ago
Economists have predicted what Brexit means for the U.S. economy and its financial markets when (and if) the U.K. finally leaves the EU.

Indiatimes - No-deal Brexit looms as race for new British PM wraps up - 21 hours 54 min ago

BBC - Ferry companies warn of gridlock in no-deal Brexit - 23 hours 11 min ago

COMMENTARY:

The Japan Times - No-deal Brexit looms as race for new British prime minister wraps up - 18 hours 24 min ago

MarketWatch - Bond Report: US Treasury, UK gilt yields slide on US data, increased risk of no-deal Brexit - 19 hours 32 min ago

The Guardian - Pound could fall to parity with dollar on hard Brexit concerns - 21 hours 58 min ago

IBM earnings lag as it tries to capitalize on cloud
CNN - 15 hours 52 min ago
Growth in IBM's cloud business appeared to be a bright spot in its earnings for the second quarter of fiscal 2019. It beat expectations on profit, posting earnings per share of $3.17. But its revenue was down 4.2% from the prior year to $19 billion, its fourth straight quarter of decline.

RELATED:

Reuters - Cloud growth fuels IBM profit beat - 16 hours 48 min ago

CNBC - IBM set to report earnings after the bell - 19 hours 55 min ago

COMMENTARY:

24/7 Wall St. - Couldn’t IBM Have Said Something About Red Hat When It Reported Q2 Results? - 3 hours 59 min ago

MarketWatch - Earnings Results: IBM stock rises as earnings, cloud revenue beat Street view - 18 hours 28 min ago

VIDEO:

CNBC Video - IBM reports EPS beat, revenues fall in line at $19.16 billion - 18 hours 26 min ago

Disney Calls Heiress’s Pay Criticism a ‘Gross and Unfair Exaggeration’
New York Times - 17 hours 1 min ago
Walt Disney’s grandniece Abigail Disney had said she was “livid” about the company’s pay practices after a visit to Disneyland last year.

RELATED:

CNN - 'The Lion King' hits familiar notes in adapting Disney classic - 18 hours 17 min ago

COMMENTARY:

NY Post - Disney slams claims by family heiress about working conditions - 20 hours 34 min ago

TechCrunch - Spotify partners with Disney on a new streaming hub aimed at families - 23 hours 38 min ago

VIDEO:

CNBC Video - Netflix is an overvalued company, Disney's going to win: Analyst - 6 hours 59 min ago

Facebook’s Cryptocurrency Faces Second Day of Critical Hearings
New York Times - 18 hours 58 min ago
Skeptical House committee members said Facebook’s Libra plans could be a threat to central banks and aid tax evaders and drug dealers.

RELATED:

Deutsche Welle - G7 nations to act against Facebook's 'Libra' cryptocurrency plan - 20 hours 24 min ago

Reuters - U.S. lawmakers challenge Facebook over Libra cryptocurrency plan - 23 hours 37 min ago

COMMENTARY:

The Japan Times - Fear of Facebook’s Libra cryptocurrency initiative dominates discussion at tense G7 meeting in France - 6 hours 24 min ago

TechCrunch - Coinbase tells you if top holders are buying or selling a crypto asset - 16 hours 23 min ago

Zero Hedge - The Dollar, Not Crypto, Is A National Security Issue - 16 hours 50 min ago

BusinessInsider - A Michigan congressperson said Facebook's Libra cryptocurrency reminded him of a 'platypus' but then decided it was more like a traveler's check (FB) - 18 hours 42 min ago

Washington Post - Democrats call on Facebook to abandon Libra cryptocurrency - 20 hours 43 min ago

VIDEO:

CNBC Video - Grayscale's Sonnenshein: Libra is making investors excited about cryptocurrency - 1 hour 1 sec ago

NJ Gov. Murphy confident lawsuit against IRS over SALT tax deductions will succeed
CNBC - 19 hours 1 sec ago
New Jersey Gov. Phil Murphy is confident that his state's lawsuit against the federal government over charitable donation tax write-offs will succeed, he told CNBC.

RELATED:

CNBC - This is how much income tax you're paying to your state - 21 hours 13 min ago

New York Times - Senate Approves Tax Treaties for First Time in Decade - 21 hours 30 min ago

SCMP - Developer of some of Hong Kong’s smallest abodes may have sold at a loss just to clear the flats off its books to avoid vacancy tax - 23 hours 24 min ago

COMMENTARY:

The Japan Times - U.S. House votes to repeal tax funding ‘Obamacare’ - 4 hours 24 min ago

Vox - Why the House plans to pass a bipartisan bill repealing a controversial Obamacare tax - 20 hours 25 min ago

VIDEO:

CNBC Video - G7 finance ministers address a debate about digital tax in France - 8 hours 54 min ago

Amazon under EU antitrust fire over use of merchant data
Indiatimes - 20 hours 54 min ago
In Washington, the US Federal Trade Commission is contemplating probes of Amazon and Facebook while the Justice Department is looking at Apple and Google.

RELATED:

Reuters - Explainer: What is the EU's antitrust investigation into Amazon about? - 22 hours 30 min ago

COMMENTARY:

Washington Post - After death of YouTube star, Amazon will push for e-scooter safety warnings in the U.K. - 4 hours 24 min ago

BusinessInsider - Uber just launched an Amazon-like feature that could help it cash in on millennials' mobile-shopping addiction (UBER) - 18 hours 30 min ago

Vox - Despite boycotts and protests, Amazon Prime Day was bigger than ever - 18 hours 45 min ago

Zero Hedge - Searches For "Canceling Amazon Prime" Soar 18X On Prime Day - 23 hours 20 min ago

VIDEO:

CNBC Video - Amazon Prime Day, Beyond Meat gets another believer and big spending on virtual goods - 19 hours 8 min ago

Reuters Video - Amazon appeases German watchdog, but EU opens new probe - 23 hours 52 min ago

Business News - The Last 24 Hours

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