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Mark Wilson | Getty Images Commerce Secretary Wilbur Ross (R) speaks before President Donald Trump signed a presidential memorandum aimed at what he calls Chinese economic aggression, White House Roosevelt Room, March 22, 2018. President Donald Trump is telling people he wants to replace Commerce Secretary Wilbur Ross by the …
Read More »Monthly Archives: November 2018
Apple, Amazon, Facebook, Microsoft, Alphabet lost $75 bln market cap
Jabin Botsford | The Washington Post | Getty Images From left Amazon founder Jeff Bezos, Alphabet CEO Larry Page, and Facebook COO Sheryl Sandberg listen during a meeting with technology industry leaders at Trump Tower in New York, NY on Wednesday, Dec. 14, 2016. It was a down day for …
Read More »Shares of electricity provider PG&E plunge as wildfires ravage California
Karl Mondon | Digital First Media | The Mercury News | Getty Images Firefighters begin a back burn against the Camp Fire on Pentz Road south Paradise, Calif., November 8, 2018. Shares of PG&E plunged more than 12 percent on Friday as wildfires continued to rage through California. The decline …
Read More »GE responds to JP Morgan price cut as shares plummet
YASUYOSHI CHIBA | AFP | Getty Images Men work with a jet engine at General Electric (GE) Celma, GE’s aviation engine overhaul facility in Petropolis, Rio de Janeiro, Brazil. General Electric responded Friday to questions about the company’s financial situation raised by J. P. Morgan analyst Stephen Tusa. GE said …
Read More »Here’s what every major analyst said about Disney’s earnings and its new streaming service
Cory Disbrow | Getty Images The Main Street Philharmonic entertains guests at the Magic Kingdom, Walt Disney World, Florida. Disney’s better-than-expected earnings and upcoming streaming service have Wall Street glowing as the longtime media giant enters a whole new world of content delivery. Shares jumped nearly 3 percent in early …
Read More »Microsoft Azure picks up cloud business from Gap
David Ryder | Bloomberg | Getty Images Microsoft CEO Satya Nadella smiles during the Microsoft Build developer conference in Seattle on May 10, 2017. Microsoft’s cloud business has won a marquee deal from one of the country’s best-known retailers. The company said Friday that it signed a five-year deal with …
Read More »J.P. Morgan slashes GE stock target to $6
Luke Sharrett | Bloomberg | Getty Images An employee helps install a traction motor onto the truck of a General Electric Evolution Series Tier 4 diesel locomotive at the GE Manufacturing Solutions facility in Fort Worth, Texas. J.P. Morgan cut its 12-month price target on General Electric to just $6 …
Read More »Alipay strikes payments deal with soccer governing body UEFA
Matthias Doering | Bloomberg | Getty Images An Alipay digital payment app logo and smartphone sit on a desktop at the Wirecard AG headquarters in Munich, Germany, on Wednesday, Sept. 5, 2018. Alipay, the payments app operated by Alibaba affiliate Ant Financial, has struck a partnership with European soccer governing …
Read More »Australia treasurer on CK Infrastructure-APA gas deal
Fairfax Media/Fairfax Media via Getty Images A natural gas plant in Cooper Basin, South Australia. Australia remains open to Chinese investments regardless of whether Canberra blocks an acquisition of a major energy company by a Hong Kong-led consortium, Australian Treasurer Josh Frydenberg told CNBC on Friday. Earlier this year, a …
Read More »Top Chinese tech investor says he’s still optimistic about growth
Nelson Ching | Bloomberg | Getty Images Neil Shen, founding partner of Sequoia Capital China. WUZHEN, China — The head of Sequoia Capital’s China affiliate said Thursday there are still big opportunities for growth in the country’s digital economy, contrary to many concerns about a slowdown. “As an investment firm …
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