News: Business/Economy

Latest News

Disney
Disney's Hulu Strategy Is Emerging

Maybe Hulu and Disney+ can get along after all.

Kushner Cos. Gets $800 Million Federally-Backed Apartment Loan
Kushner Cos. Gets $800 Million Federally-Backed Apartment Loan

The loan was issued by Berkadia, a lender co-owned by Warren Buffett's Berkshire Hathaway Inc. and Jefferies Financial Group Inc., in a deal that's backed by government-owned Freddie Mac, according to a person familiar with the matter who asked not to be named discussing the private transaction. The arrangement increases the government's exposure to Kushner Cos. at the same time that its former chief executive officer is one of the most powerful people in the White House. Jared Kushner divested ownership in many of the company's assets to close family members when he joined the government.

Cramer: 5G rollout has tower stocks in
Cramer: 5G rollout has tower stocks in 'raging bull market mode'

"Once you build a tower, you can just add another antenna to it when you pick up a new client, so the margins are terrific," he says.

Trump says
Trump says 'dangerous' Huawei could be included in U.S.-China trade deal

President Donald Trump said on Thursday U.S. complaints against Huawei Technologies Co Ltd might be resolved within the framework of a U.S.-China trade deal, while at the same time calling the Chinese telecommunications giant "very dangerous." Washington last week effectively banned U.S. firms from doing business with Huawei, the world's largest telecoms network gear maker, citing national security concerns. "You look at what they've done from a security standpoint, from a military standpoint, it's very dangerous," Trump said in remarks at the White House.

Pennsylvania utilities commission approves T-Mobile-Sprint merger
Pennsylvania utilities commission approves T-Mobile-Sprint merger

Pennsylvania's Public Utility Commission on Thursday approved T-Mobile US Inc's $26 billion purchase of rival Sprint Corp, bringing the megamerger one step closer to completion. The commission voted 3-2 to approve the deal, it said in a statement. The companies are still awaiting approval from the Justice Department's Antitrust Division and two other state commissions, for California and Hawaii.

Woman who helped put away serial killer awaits his execution
Woman who helped put away serial killer awaits his execution

STARKE, Fla. (AP) - At 17, Lisa Noland was fighting for her life. A killer on a rampage that would leave 10 women dead abducted her outside a church and raped her. The day before, she'd written a suicide note, planning to end her life after years of sexual abuse by her grandmother's boyfriend

Luckin Coffee Burns Investors in 43% Plunge From High After IPO
Luckin Coffee Burns Investors in 43% Plunge From High After IPO

Shares of Xiamen, China-based Luckin Coffee soared as much as 53% to $25.96 on May 17, their first day of trading in the U.S. Of this year's initial public offerings that raised at least $500 million, Luckin's 13% decline from its offering price of $17 per share makes the coffee retailer the second-worst performing stock, behind only Lyft Inc., which is down 20% since its offering price of $72 in late-March. Hedgeye analyst Howard Penney is among the market watchers fooled by the Luckin.

5 of the Best Vanguard Funds to Buy

That bias can prevent investors from realizing compelling ex-US opportunities with Vanguard funds, such as the Vanguard Total International Bond ETF (NASDAQ:BNDX). Among Vanguard funds, BNDX does not grab many headlines, but this year, investors are waking up to this ETF's story. Year-to-date, BNDX has added $3.61 billion in new assets, a total surpassed by just nine other ETFs.

The 5 Best Telecom Stocks to Buy Now
The 5 Best Telecom Stocks to Buy Now

Telecom Stocks To Buy Now: T-Mobile (TMUS) Let's start off with the telecom stocks to buy in the United States. Unfortunately, Verizon (NYSE:VZ) has run up recently and is no longer a strong value at this price. Meanwhile, AT&T (NYSE:T) has bet the farm on content with the Time Warner deal and is not a good choice for risk-averse telecom investors.

Microsoft Pulls Huawei Products From One of Its Cloud Server Catalogs
Microsoft Pulls Huawei Products From One of Its Cloud Server Catalogs

The world's largest software maker still won't comment on whether it is rescinding Huawei's licence to use the Windows operating system. Huawei is one of several hardware vendors that make servers and equipment for Microsoft's Azure Stack product, which helps companies run software applications on either

Disney World
Disney World's Top Rival Is Losing Ground

Disney's theme parks grew slightly faster than Universal Orlando's dry theme parks last year, and the gap is going to widen in 2019.

U.S. Beer Industry Blames Trump Tariffs for 40,000 Job Losses
U.S. Beer Industry Blames Trump Tariffs for 40,000 Job Losses

A report by two trade groups showed U.S. beer-industry jobs dropped 40,000 since 2016 as metal tariffs boosted aluminum-can costs, leading to a drop in investment. The biennial study by the Beer Institute and National Beer Wholesalers Association said direct, indirect and induced jobs fell to 2.19 million

Exclusive: U.S. airlines expect Boeing 737 MAX jets need up to 150 hours of work before flying again
Exclusive: U.S. airlines expect Boeing 737 MAX jets need up to 150 hours of work before flying again

Once regulators approve Boeing Co's grounded 737 MAX jets for flight, each aircraft will likely require between 100 and 150 hours of preparation before flying, officials from the three U.S. airlines that operate the MAX told Reuters. The estimate, provided to Reuters by American Airlines Group Inc

Exclusive: U.S. airlines expect Boeing 737 MAX jets need up to 150 hours of work before flying again
Exclusive: U.S. airlines expect Boeing 737 MAX jets need up to 150 hours of work before flying again

The estimate, provided to Reuters by American Airlines Group Inc, United Airlines and Southwest Airlines Co officials, is the first indication of the time needed to bring the jets out of storage following a worldwide grounding in March spurred by deadly crashes in Indonesia and Ethiopia. The preparations

U.S. home sales, manufacturing stumble; job market resilient

Sales of new U.S. single-family homes fell from near an 11-1/2-year high in April as prices rebounded and manufacturing activity hit its lowest level in almost a decade in May, suggesting a sharp slowdown in economic growth was underway. Labor market strength should support the economy, which is cooling as last year's massive stimulus from the Trump administration's tax cuts and spending increases fades. The mixed reports followed data last week showing a decline in retail sales and industrial production in April, which prompted economists to cut second-quarter growth estimates.

Red Flag For Oil Markets: Asian Refining Margins Plunge To 16-Year Low

Persistent pressure on profit margins has forced Asian refiners to start considering a reduction in their run rates, Reuters reports, citing unnamed sources from the industry. According to the sources, higher international oil prices are behind the unfavorable development, which has seen refiners' margins drop to the lowest since the spring of 2003, according to Reuters data. Among the refiners considering run rate cuts are South Korea's SK Energy, the Singapore Refinery Company, and at least one refiner in Thailand.

U.S. FAA meets with air regulators on fate of Boeing 737 MAX
U.S. FAA meets with air regulators on fate of Boeing 737 MAX

The Federal Aviation Administration is meeting with international air regulators from around the world on Thursday to determine what is needed to return the grounded Boeing Co 737 MAX to return it to service. The agency will summarize the status of three major ongoing reviews of the 737 MAX and give

Another 31 Tons of Beef Recalled Due to E. Coli Fears
Another 31 Tons of Beef Recalled Due to E. Coli Fears

Another 31 Tons of Beef Recalled Due to E. Coli Fears

Lowe
Lowe's and Home Depot Have Excellent Memorial Day Sales This Weekend. Here Are the Best Deals

There are discounts of nearly 50% on mulch, furniture, and more.

Musk Counters Tesla Delivery Doubt With Upbeat Internal Memo
Musk Counters Tesla Delivery Doubt With Upbeat Internal Memo

The chief executive officer wrote that Tesla has a "good chance" in the second quarter of exceeding the record 90,700 deliveries achieved in the last three months of 2018. In the email, which first surfaced on a Chinese social media forum, Musk also said the company has received more than 50,000 net new orders this quarter. Tesla shares rose as much as 3.5% after trading lower by as much as 5.6% during the pre-market session.

Analysts Weigh In On NetApp
Analysts Weigh In On NetApp's Weak Q4, Stay Largely Bullish Chances Of Inflection

NetApp Inc. (NASDAQ: NTAP) reported after the market close Wednesday with below-consensus fourth-quarter earnings and issued a downbeat forecast for the first quarter. Credit Suisse analyst Matthew Cabral maintained an Outperform rating on NetApp and lowered the price target from $89 to $79. Bank of America Merrill Lynch analyst Wamsi Mohan reiterated a Buy rating and reduced the price target from $78 to $74.

25 Stocks to Buy Before the Long Weekend
25 Stocks to Buy Before the Long Weekend

Since 2010, the U.S. stock market has tended to struggle during the shortened Memorial Day week. However, if recent history is any indicator, several stocks could buck the trend next week, including battered Apple supplier Broadcom Inc (NASDAQ:AVGO). Below, we take a look at the 25 best stocks to own the week of Memorial Day.

Tesla deliveries set to top record in second quarter: Musk email
Tesla deliveries set to top record in second quarter: Musk email

Musk's email, widely posted on social media and authenticated for Reuters by a source familiar with the matter, also said the company had on average produced 900 Model 3 cars per day this week, bringing it closer to a target of 7,000 per week. Demand for the Model 3 sedan and Tesla's other cars

AP sources: Pentagon proposing troop buildup in the Mideast
AP sources: Pentagon proposing troop buildup in the Mideast

WASHINGTON (AP) - The Pentagon on Thursday will present plans to the White House to send up to 10,000 more troops to the Middle East, in a move to beef up defenses against potential Iranian threats , U.S. officials said.

After Netflix Price Hike, T-Mobile Customers Will Have to Pay More or Downgrade
After Netflix Price Hike, T-Mobile Customers Will Have to Pay More or Downgrade

After Netflix Price Hike, T-Mobile Customers Will Have to Pay More or Downgrade

Knot Offshore: 1Q Earnings Snapshot

The Aberdeen, Britain-based company said it had profit of 39 cents per share. The tanker company that serves the energy industry posted revenue of $70.5 million in the period. Knot Offshore shares have ...

Canada Gets World
Canada Gets World's First Inverse, Leveraged Cannabis ETFs

Already one of the world's largest markets in terms of sheer number of cannabis exchange traded funds, Canada is breaking new ground as the home to the world's first inverse and leveraged marijuana ETFs. Horizons ETFs Management Canada Inc. said it's preparing to launch a leveraged marijuana ETF and an inverse cannabis fund on Friday.

DOJ
DOJ's Delrahim still open to Sprint-T-Mobile deal: CNBC

The U.S. Department of Justice's antitrust chief, Makan Delrahim, is still open to T-Mobile US Inc's $26 billion acquisition of smaller rival Sprint Corp, CNBC reported on Thursday. Reuters reported on Wednesday that the antitrust division staff had recommended the agency block the deal, citing two sources familiar with the matter. Shares of Sprint were up 6% in premarket trading, while T-Mobile rose 1.2%.

The Daily Biotech Pulse: Breakthrough Therapy Designation For Iovance, Guardant Prices Offering, 2 Stocks to Debut
The Daily Biotech Pulse: Breakthrough Therapy Designation For Iovance, Guardant Prices Offering, 2 Stocks to Debut

NASDAQ: MYGN) Nuvectra Corp (NASDAQ: NVTR) Puma Biotechnology Inc (NASDAQ: PBYI) TherapeuticsMD Inc (NASDAQ: TXMD) Tocagen Inc (NASDAQ: TOCA) (announced its Phase 3 brain cancer gene therapy trial will continue) Trillium Therapeutics Inc (NASDAQ: TRIL) United Therapeutics Corporation (NASDAQ: UTHR) Iovance Biotherapeutics Inc (NASDAQ: IOVA) said the FDA has granted Breakthrough Therapy designation to Iovance TIL therapy candidate LN-145 in treating recurrent, metastatic, or persistent cervical cancer with disease progression on or after chemotherapy.

Amazon Is Working on a Device That Can Read Human Emotions
Amazon Is Working on a Device That Can Read Human Emotions

The wrist-worn gadget is described as a health and wellness product in internal documents reviewed by Bloomberg. Designed to work with a smartphone app, the device has microphones paired with software that can discern the wearer's emotional state from the sound of his or her voice, according to the

This Group of People Is Most Likely to Retire Broke
This Group of People Is Most Likely to Retire Broke

Some people are less likely than others to reach their retirement goals.

Tesla Plunges as Analyst Delivery Warning Adds to Week of Losses
Tesla Plunges as Analyst Delivery Warning Adds to Week of Losses

Loup Ventures co-founder Gene Munster wrote in a note that Tesla will probably miss its 2019 delivery target range as sales shrink in China amid a trade war between the two countries. The analyst cut his estimate for Tesla's full-year global car sales by about 10% to 310,000 vehicles, versus the minimum

EUR/USD Daily Forecast - Break or Fake?
EUR/USD Daily Forecast - Break or Fake?

On a daily chart, the pair is clearly seen trending lower as an ascending trend channel has encompassed price action for most of the year thus far. However, one thing to note is the general lack of selling pressure, especially when compared to price action last year around this time. This is evident by the recovery rallies that have followed each time EUR/USD has made a marginally lower low for 2019.

China says trade talks can
China says trade talks can't continue unless US addresses its 'wrong actions'

A Ministry of Commerce spokesperson does not single out any U.S. action, but it's been a tense couple of weeks for the trade war.

China says lodged solemn representations with U.S. over Huawei
China says lodged solemn representations with U.S. over Huawei

China said on Thursday it had lodged solemn representations with the United States after it escalated a trade war between the two countries by placing Chinese telecoms equipment maker Huawei Technologies Co Ltd on a blacklist for U.S. suppliers. No further trade talks between top Chinese and U.S. negotiators

Deutsche Bank CEO Signals
Deutsche Bank CEO Signals 'Tough Cutbacks' to Investment Bank

"I can assure you: we are prepared to make tough cutbacks" to the investment bank, Sewing said Thursday in prepared remarks at the bank's annual shareholders' meeting in Frankfurt. Sewing didn't say where the cuts would be, but he highlighted businesses where they're unlikely to happen, such as origination

Stocks Slump, Dollar Rises as Trade Worries Deepen: Markets Wrap
Stocks Slump, Dollar Rises as Trade Worries Deepen: Markets Wrap

S&P 500 futures pointed to a big drop at the New York open after China's flagship People's Daily published two commentaries assailing American moves to curb Chinese companies. The Stoxx Europe 600 Index was dragged lower by automakers after an EU official said the U.S. was unlikely to start trade talks

Tesla
Tesla's 'Extreme' Success in Norway Becomes Double-Edged Sword

The company has struggled to build up operations to match sales in Norway, which leads the world in electric vehicles per inhabitant. Norway is closely watched for signs of how the transportation industry is adapting to the energy transition. After Tesla rolled out an unprecedented wave of its new

China has more weapons in US tariff war _ but do they work?
China has more weapons in US tariff war _ but do they work?

BEIJING (AP) - Looking for ways to hit back at Washington as a tariff fight escalates, President Xi Jinping and his economy czar visited a Chinese factory that processes rare earths - exotic minerals used in electric cars, mobile phones and other technology.

America
America's Largest Cities Are Shrinking

Fort Worth, Texas, is now the 13th most populous U.S. city, surpassing both San Francisco and Columbus, Ohio, according to newly released population estimates from the Census Bureau. Fort Worth grew by 19,552 residents during the twelve-month period ending in July 2018.

U.S. Stocks Decline as Lingering Trade Woes Overshadowed Accommodative Fed Minutes
U.S. Stocks Decline as Lingering Trade Woes Overshadowed Accommodative Fed Minutes

The major U.S. equity indexes retreated on Wednesday in a limited trade as trade tensions intensified. Sellers continued to press the market in reaction to weak retailer shares, while technology woes persisted due a steep decline in shares of Qualcomm. Investors also digested the minutes from the Federal Reserve's May 1-2 meeting.

Global Markets: Asia shares sink to four-month low, yen a safe harbour
Global Markets: Asia shares sink to four-month low, yen a safe harbour

Asian shares carved out a four-month trough on Thursday amid worries the Sino-U.S. trade conflict was fast morphing into a technology cold war between the world's two largest economies. Late Wednesday, Reuters reported the U.S. administration was considering Huawei-like sanctions on Chinese video surveillance firm Hikvision over the country's treatment of its Uighur Muslim minority, according to a person briefed on the matter. After the United States placed Huawei Technologies on a trade blacklist last week, British chip designer ARM has halted relations with Huawei in order to comply with the blockade.

Trump antagonist Avenatti indicted for ripping off Stormy Daniels, extorting Nike
Trump antagonist Avenatti indicted for ripping off Stormy Daniels, extorting Nike

The Nike indictment concerns charges announced in March that Avenatti tried to extort more than $20 million from the athletic wear company by threatening to expose what he called its improper payments to recruits for college basketball teams it sponsored. Avenatti also faces dozens of charges in southern California, where prosecutors on April 11 accused him of stealing millions of dollars from clients to pay for personal and business expenses, and lying to the Internal Revenue Service and a Mississippi bank about his finances. If convicted on all charges, Avenatti could face more than 400 years in prison, but would likely face a lesser punishment.

PRESS DIGEST- British Business - May 23

The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times Sir Philip Green's retail empire Arcadia Group said it will close all Topshop stores in the United States as part of a proposed rescue package that faces opposition from landlords and the Pensions Regulator.

Target and tariffs: The retailer has plans to limit higher prices
Target and tariffs: The retailer has plans to limit higher prices

Target plans to lessen the impact tariffs will have on the retailer's prices, the company said on Wednesday. Details were not disclosed.

Chinese man guilty of defrauding Apple out of 1,500 iPhones
Chinese man guilty of defrauding Apple out of 1,500 iPhones

Over the span of two years, a Chinese national in Oregon sent devices that looked like iPhones to Apple, saying they wouldn't turn on and should be replaced under warranty. Apple responded by sending almost 1,500 replacement iPhones, each with an approximate resale value of $600. Jiang, 30, a former

A Third of Americans Can
A Third of Americans Can't Answer This Simple Retirement Question

Not knowing the answer to this question could make it difficult to save for retirement.

Uber and Lyft to turn the wheels on car ownership: industry experts
Uber and Lyft to turn the wheels on car ownership: industry experts

Ride-hailing apps like those of Uber Technologies and Lyft Inc are expected to alter the state of car ownership towards subscription-based services and shared ownership, auto industry experts said at a conference on Wednesday. "Your phone will be your car," said Andre Haddad, CEO of Turo,

Honda recalls 118,000 U.S. SUVs for sudden air bag deployments
Honda recalls 118,000 U.S. SUVs for sudden air bag deployments

Honda Motor Co's U.S. unit said on Wednesday it is recalling 118,000 new U.S. SUVs following reports of three injuries tied to sudden air bag deployments. The Japan-based automaker said it is recalling the 2019 Honda CR-V to replace steering wheel wire harnesses and supplemental restraint system

Natura agrees to buy Avon, creating cosmetics powerhouse
Natura agrees to buy Avon, creating cosmetics powerhouse

Brazil's Natura SA said on Wednesday it had reached an agreement to buy rival Avon Products Inc via a share swap, creating the world's fourth-largest beauty company with a redoubled focus on direct sales. Under the terms of the deal, Natura will hold 76% of the combined business with over $10 billion in annual revenue, according to a statement from the Brazilian cosmetics firm. After Natura pushed into high-end retail shops with the acquisitions of Aesop in 2013 and The Body Shop in 2017, the takeover of its biggest rival in direct sales is a renewed bet on the company's core business of door-to-door distribution.

Top News: Economy

© Copyright Daily Magazine
facebook
Hit "Like"
Don't miss any important news
Thanks, you don't need to show me this anymore.