Economy

Author: 0 Sinclair Will Buy Disney's 21 Fox Networks for $9.6 Billion

Nexstar Media Group Inc. agreed to buy Tribune Media Co. for about $4.1 billion in December, vaulting it past Sinclair as the largest owner of TV stations in the U.S. It had been reported that Disney wanted $20 billion for the networks but Sinclair won with a bid of $10.6 billion showing how cord cutting has reduced the value of networks like the Fox RSNs.

Economy USA job growth surges; unemployment rate drops to 3.6 percent
Author: 0 USA job growth surges; unemployment rate drops to 3.6 percent

Hiring jumped in April as USA employers added 263,000 jobs, a strong gain that suggests businesses have shrugged off any concerns the economy may slow this year. Meanwhile, the more complete U6 unemployment measure held steady at 7.3%. That year-over-year growth is the highest seen since 2010. Economists expect job growth will slow this year as fewer workers become available, which will push up wages and lift inflation back to the Fed's 2% target.

Economy Warren Buffett will have plenty to talk about at annual gathering
Author: 0 Warren Buffett will have plenty to talk about at annual gathering

In a CNBC interview, Warren Buffett , Berkshire Hathaway's ( BRK-B ) chairman, said that the company has been buying Amazon shares ( AMZN ). The firms are setting up an independent company to offer healthcare services to their U.S. "He said Berkshire Hathaway bought Amazon - Warren Buffett didn't buy Amazon ", Siefert said. Buffett also stands to gain in a preferred stock payback if his $10 billion investment in Occidental Petroleum, announced this week, enables that midsized oil ...

Economy Beto O'Rourke's 5 Trillion Dollar Climate Initiative
Author: 0 Beto O'Rourke's 5 Trillion Dollar Climate Initiative

O'Rourke also said he would halt new fossil fuel leases on federal land. The plan appears to align with some of the principles of the Green New Deal , a bold set of policy goals introduced by congressional Democrats, that would transform the US energy economy to 100 percent renewable sources by 2030, using federal funds to invest in modern infrastructure and green job programs.

Economy Activision Blizzard quarterly revenues take a dip
Author: 0 Activision Blizzard quarterly revenues take a dip

We're building this league for fans across esports, traditional sports and gaming alike and we're excited to partner with individuals and organizations who are just as passionate about our vision for the future of Call of Duty esports. " Call of Duty is a game that embodies team work and dedication and Call of Duty esports is a celebration of those pillars". That means that fans can expect to see something happen between now and 30th June, whether this means an announcement will be ...

Economy The Market Was Hungry For Beyond Meat's IPO (NASDAQ:BYND)
Author: 0 The Market Was Hungry For Beyond Meat's IPO (NASDAQ:BYND)

The stock opened at $46, well above its IPO price of $25, giving Beyond Meat a market capitalization of around $2.75 billion, including underwriters' option. Beyond Meat's net loss narrowed marginally to $29.89 million in the year ended December 31, from $30.38 million a year earlier. The company had significant shortages in 2017 and 2018 and has since made significant investments to keep up with demand, Brown said.

Economy Amazon rebrands, expands Middle East marketplace
Author: 0 Amazon rebrands, expands Middle East marketplace

CNBC reported that Souq .com will be rebranded to Amazon .ae and the original Souq URL will take shoppers directly to the new one. "We are proud to announce that we are now Amazon .ae", Amazon wrote in a letter posted on the new Middle East marketplace.

Economy Wynn Resorts keeps Massachusetts gaming license with $35 million fine
Author: 0 Wynn Resorts keeps Massachusetts gaming license with $35 million fine

Wynn's $2.6 billion Encore Boston Harbor casino is scheduled to open on June 23. The record $35.5 million in fines MA imposed on Wynn Resorts and its CEO reflect the many violations uncovered but are also meant to serve as a deterrent as the nascent state casino industry takes shape, MA regulators said Wednesday.

Economy Chase's Advice To Scrimp On Java, Food, Taxis Riles Twittersphere 05/01/2019
Author: 0 Chase's Advice To Scrimp On Java, Food, Taxis Riles Twittersphere 05/01/2019

The bank account "responded" with several tips, such as "make coffee at home", "eat the food that's already in the fridge", and "you don't need a cab, it's only three blocks". Others pointed to the tweet as symptomatic of the times we live in. During a testy back-and-forth in Congress this month, Porter shared the story of a JPMorgan Chase employee who is short more than $500 each month because her salary is insufficient to cover basic expenses.

Economy Trump pick Stephen Moore drops out of Federal Reserve race
Author: 0 Trump pick Stephen Moore drops out of Federal Reserve race

Trump said on Twitter Thursday afternoon that Moore chose to withdraw, a decision that came amid growing objections to his potential nomination among Senate Republicans. President Trump's Federal Reserve board pick Stephen Moore is "bummed out" over withdrawing his bid . The articles, which Moore called a "spoof", mocked women's sports and said female announcers should be banned from NCAA basketball games.

Economy Qualcomm sees up to US$4.7b payment from Apple deal
Author: 0 Qualcomm sees up to US$4.7b payment from Apple deal

Qualcomm also revealed it will be the chip provider in the next two years and will include direct six-year licensing agreement. Credit: Akshdeep Kaur Raked/ShutterstockAccording to Qualcomm's latest earnings report released this week, Apple will pay the company between $4.5 and $4.7 billion as part of the settlement the two firms made last month.

Economy Chase tweets about budgeting, gets burned by Twitter
Author: 0 Chase tweets about budgeting, gets burned by Twitter

The banking giant's since-deleted tweet blamed low bank account balances on bad spending decisions. " You: why is my balance so low ". You can call it a bank backfire. "Hey@Chase, try paying your workers more". Rep. Katie Porter a Democrat from California said tweet reflected the fact the bank and Dimon are 'out of touch'.

Economy Tesla seeks up to $2.3-billion from share, debt issues
Author: 0 Tesla seeks up to $2.3-billion from share, debt issues

Tesla's plan to issue debt and convertible shares comes after the company repeatedly pushed back forecasts for turning a profit. This has the Model 3 starting at just £38,900 ($A72,286 at today's rates) if the United Kingdom plug-in vehicle grant is taken into account, and including Tesla's "destination and documentation fee" of £850 ($A1,579 at today's rates).

Economy Wall Street's recent rally stumbles as Alphabet falls
Author: 0 Wall Street's recent rally stumbles as Alphabet falls

Alphabet report ed first-quarter revenue and adjusted earnings per share of $36.34 billion and $11.90, respectively. According to Alphabet , "given the announcement on March 20, 2019 by the European Commission (EC) of its decision that certain contractual provisions in agreements that Google had with AdSense for Search partners infringed European competition law and the associated €1.5 billion ($1.7 billion as of March 31, 2019) fine".

Economy Growth in China's services activity slows in April - official PMI
Author: 0 Growth in China's services activity slows in April - official PMI

China's official purchasing management index (PMI) dipped to 50.1 for April, when speculators had wagered on a steady outcome of 50.5 or even an improvement. The NBS said activity levels at large manufacturers improved at a slower pace in April, dipping 0.3 points to 50.8, while conditions for both medium and small-sized manufacturers continued to deteriorate from March.

Economy Iran continues to export oil despite U.S. sanctions
Author: 0 Iran continues to export oil despite U.S. sanctions

USA oil futures advanced 0.7 percent on Tuesday as Venezuelan opposition leader Juan Guaido's calls for the military to help oust President Nicolas Maduro were met by teargas and armored vehicles in the nation's capitol. The group meets in Vienna on June 25-26 to decide on its next steps. The unrest adds to a range of fluid geopolitical factors, including the US sanctions on Caracas and Tehran, which have roiled the oil market in recent months.

Economy Marriott to expand further into home-sharing
Author: 0 Marriott to expand further into home-sharing

Marriott, which declined to comment, already operates a home-sharing business in a handful of European cities, including London , Paris and Rome. In recent months, the global home-sharing giant has been actively expanding into other businesses, including travel arrangements for business trips, local tours and experiences offerings.

Economy Land Rover Defender to be built in Slovakia
Author: 0 Land Rover Defender to be built in Slovakia

The prototype will be put through its paces by towing heavy loads, wading through rivers and carrying supplies across challenging terrain at the 14 000-hectare reserve. The new Land Rover Defender will soon complete its final phase of field testing with the Tusk Trust, on location in Kenya. Although the move to Slovakia had been widely expected, it comes amid gloom over the prospects for British vehicle manufacturing and follows the decisions to relocate production of the Discovery ...

Economy Fed keeps interest rates steady, citing muted inflation
Author: 0 Fed keeps interest rates steady, citing muted inflation

Since December 2015, the US Federal Reserve has hiked interest rates nine times till the present rate at 2.5 percent. At their last meeting, Fed policymakers signaled there would be no rate hikes for the remainder of 2019 in light of global economic and financial developments, as well as muted inflation.

Economy Key by Amazon brings in-car package delivery to Ford, Lincoln vehicles
Author: 0 Key by Amazon brings in-car package delivery to Ford, Lincoln vehicles

Owners with certain 2017 and newer Ford and Lincoln vehicles can sign up for the service, available through Amazon Prime in 50 cities throughout the U.S. Now some Ford and Lincoln auto owners can get in on the straight-to-trunk delivery. The company is actively developing digital services and platforms to keep up with the growing app ecosystems in cars.

Economy Clashes rock Venezuela as Guaido urges opposition uprising
Author: 0 Clashes rock Venezuela as Guaido urges opposition uprising

When Felix Garcia woke up on Tuesday he was sacked up by surprising news - Venezuelan opposition politician Leopoldo Lopez , under house arrest for the past two years, had appeared in public. Moscow, Maduro's main backer and creditor alongside China, accused Guaido of "fueling conflict" in the oil-rich country. "All flight operations in the territory and airspace of Venezuela at altitudes below FL 260 ...

Economy
Author: 0 Vodafone Italy found "hidden backdoors" in Huawei equipment years ago

Vodafone previously identified hidden backdoors that could have given Huawei or the Chinese government unauthorized access to Vodafone's Italian fixed-line network, which provides internet access to millions of customers and businesses. "It refers to a maintenance and diagnostic function, common across the industry, as well as vulnerabilities, which were corrected over seven years ago.

Economy OPEC supply squeeze seen supporting higher oil prices
Author: 0 OPEC supply squeeze seen supporting higher oil prices

The Organisation of the Petroleum Exporting Countries (OPEC), Russia and other producers, an alliance known as OPEC+, agreed to cut output by 1.2 million barrels per day (bpd) from January for six months in an effort to boost oil prices . Pompeo warned countries and companies that it would be a costly mistake to violate United States sanctions by importing Iranian oil after Wednesday when the waivers for eight importers end.

Economy Venezuelan opposition leader in 'final phase' of ousting president
Author: 0 Venezuelan opposition leader in 'final phase' of ousting president

However, the Chilean ambassador subsequently explained on Twitter that Lopez and his family had instead moved to the Spanish Embassy, in what he termed a "personal choice". Bolton, further indicating the uncertainty of success for Guaido, who is backed by the United States and dozens of other countries, called for Venezuela's defense minister, its supreme court chief judge and the commander of the presidential guard "to act this afternoon or evening" and support the action to remove Maduro ...

Economy Chase deletes tweet offering unsolicited financial advice
Author: 0 Chase deletes tweet offering unsolicited financial advice

The tweet was later deleted amid widespread criticism and the brand joked that it hoped "to get better at #MondayMotivation tweets". It started with a hypothetical conversation between a customer and their bank account, with the customer wondering why their balance was so low.

Economy Apple Looking to Push Other Services to Offset iPhone Slump
Author: 0 Apple Looking to Push Other Services to Offset iPhone Slump

Apple somewhat delivered on those fronts, but overall, its Q2 2019 earnings report is a mixed bag. For its fiscal second quarter ended in March, Apple reported revenue of $58.02 billion , above analysts' average estimate of $57.37 billion , according to Refinitiv data.

Economy Iran oil has many clients in region: MP
Author: 0 Iran oil has many clients in region: MP

His comments come as US Treasury Secretary Steven Mnuchin heads to Beijing and said he hopes the two economic powerhouses can finalise a trade deal with two more rounds of talks left. The IMF warned in a biannual economic outlook report that prospects for the region, including the Middle East , North Africa, Pakistan and Afghanistan, are "clouded by elevated levels of uncertainty".

Economy Spotify reaches 100 million subscribers, but stumbles slightly in its India entry
Author: 0 Spotify reaches 100 million subscribers, but stumbles slightly in its India entry

Apple is expected to release new figures with its earnings report on Tuesday. Spotify also said Monday that 217 million people now use its service at least once a month and it expects this number of total monthly active users - which includes everyone who listens to Spotify free with advertising - would rise to 222 million to 228 million by the middle of the year.

Economy Investors punish Google's owner Alphabet for missing on sales
Author: 0 Investors punish Google's owner Alphabet for missing on sales

On Monday, however, Wall Street will take an interest in the company's expanding services portfolio, particularly the Google's Cloud performance and see how it compares to leaders Amazon ( AMZN ) and Microsoft ( MSFT ) - both of which have crushed their respective cloud numbers .

Economy Burger King will test out Impossible Whopper nationwide. Here's why
Author: 0 Burger King will test out Impossible Whopper nationwide. Here's why

On April 1, Burger King began testing the new burger at 59 locations in the St. Louis area. The Impossible Whopper is Burger King's traditional hamburger, but without the actual beef patty. Burger King operates 7,330 restaurants in the U.S.as of December 31, 2018. The union of one of America's oldest fast food chains and the relatively new fake meat startup Impossible Foods is an unlikely one, but is an indication that the American public is open to new meat alternatives.

Economy Amazon Making 1-Day Shipping Standard
Author: 0 Amazon Making 1-Day Shipping Standard

Now, Amazon says it wants to make one-day the standard for all Prime members, the report noted. The news was announced after a question about the company's planned expenses for the year. The organization has officially moved to generally one-day dispatching in the European Union and same-day in Japan. And in reality, Walmart and Target are in the best position to offer that because each retailer has thousands of stores.

Economy SAS pilots continue strike, hundreds more flights canceled
Author: 0 SAS pilots continue strike, hundreds more flights canceled

The airline issued a press release that said 667 flights would be cancelled on Monday and another 546 on Tuesday. The strike will affect about 170 000 passengers during the weekend. "The strike could have been avoided, if SAS had shown a real willingness to meet us halfway", Rene Arpe, chairman of the Danish pilot union, said on Friday.

Economy Ford Invests USD 500 Million in Startup: Rivian
Author: 0 Ford Invests USD 500 Million in Startup: Rivian

Revenue was $40.3 billion, compared with the mean estimate of just shy of $37.1 billion. Ford Motor Company's $500 million investment into US electric vehicle startup Rivian Automotive LLC follows on a similarly big investment from Amazon.com Inc.