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Reuters•10 minutes agoFacebook users care less about privacy than regulators
Facebook Inc is preparing for a record-setting fine from U.S. regulators over privacy issues, but Wall Street shrugged at the looming penalty after the company added users and trounced profit expectations for the first quarter. It has been just over a year since Facebook's improper data sharing
Reuters•11 minutes agoT Mobile, Sprint face new FCC questions on tie-up
At the meeting Wednesday, Federal Communications Commission officials questioned company executives about such issues as "submitted economic modeling, including how it is conservative in measuring benefits and pricing constraints," according to a filing with the FCC from a lawyer for the companies
- Bloomberg•13 minutes ago
Why China Can’t Pull Up the World
The country’s growth numbers are improving. Consider what’s happening with the makers of construction machinery, typically a good gauge of infrastructure investment and demand. Sany Heavy Industries Co. and Zoomlion Heavy Industry Science and Technology Co. both posted strong sales volumes in the first
- Bloomberg•20 minutes ago
Asian Stocks Retreat on Earnings; Dollar Steadies: Markets Wrap
U.S. futures slid. Mostly positive results so far this earnings season have gone some way toward mitigating anxiety over the global economy, though renewed concerns in a number of emerging markets from Turkey to Argentina is damping risk appetite. U.S. first-quarter gross domestic product data due
- The Canadian Press•24 minutes ago
Federal judge blocks enforcement of anti-Israel boycott law
AUSTIN, Texas — A federal judge has blocked enforcement of a Texas law that requires contractors to certify that they don't boycott Israel.In a 56-page opinion filed Thursday, U.S. District Judge Robert Pitman of Austin said boycotts are protected free speech, declaring the law fails to serve a compelling
- Bloomberg•32 minutes ago
Surprise Drop in Japan Factory Output Adds to Warning Signs
The reading on the world’s third-largest economy comes a day after South Korea, a bellwether for world trade and technology, surprised markets in reporting its biggest contraction of GDP in a decade, signaling that the worst of the global slowdown may not have passed. Japan needs to see a healthy recovery
- Bloomberg•36 minutes ago
Alibaba's Online Mall Chief Wants to Double Sales in 3 Years
Jiang Fan, who runs the company’s two biggest e-commerce businesses, wants to double transaction volumes on its Tmall service in three years. Alibaba doesn’t disclose dealings over the platform, which helps brands and companies sell goods to 600 million-plus buyers, but it’s one of the single largest
- Bloomberg•44 minutes ago
China Big Earnings Showdown Looms as Stocks Begin to Sink
With some of the nation’s largest companies scheduled to report earnings, investors will be looking for evidence that an improving corporate sector will support valuations at a time when the government is paring back stimulus. A stronger dollar is the latest headwind, while the memory of a flood of
- The Canadian Press•47 minutes ago
Amazon to bring 1-day delivery to Prime members
Amazon, which hooked shoppers on getting just about anything delivered in two days, announced Thursday that it will soon promise one-day delivery for its U.S. Prime members on most items. The company hopes that cutting delivery times in half will make its $119-a year Prime membership more attractive
- The Canadian Press•54 minutes ago
The Latest: Amazon Prime to be 1-day shipping instead of 2
NEW YORK — The Latest on Amazon's first quarter earnings (all times local):____6:00 p.m.Amazon says its free shipping for Prime members will be even faster, promising one-day shipping on most items instead of two-day delivery.The company didn't say when the change would happen, but says it has
- The Canadian Press•1 hour ago
O'Rourke might halt new oil and gas drilling on federal land
RENO, Nev. — Former Texas Congressman Beto O'Rourke said Thursday he's willing to consider a moratorium on new leases to drill for oil and gas on federal lands as a way to help combat climate change.The Democratic presidential hopeful told reporters while campaigning in Nevada on Thursday the
Reuters•1 hour agoNintendo shares fall as much as 5% after conservative earnings guidance
Nintendo Co Ltd's shares fell as much as 5 percent in early Tokyo trading, a day after the gaming company offered conservative earnings guidance and urged caution on the roll-out of its Switch console in China. Nintendo's shares were down 3.2 percent at 0930 local time (0029 GMT), underperforming
Reuters•1 hour agoBank of Canada could resume hikes if data proves slowdown temporary: governor
The Bank of Canada could start hiking rates again "sometime down the road," although such a move will depend on whether upcoming economic data backs up its assessment that a current slowdown is only a temporary detour, the central bank's head said on Thursday. The Bank of Canada has raised
- The Canadian Press•1 hour ago
Artisan keeps his craft alive with each carved mahjong tile
HONG KONG — Just opposite the entrance to a neon-lit night market, one of Hong Kong's few remaining carvers of mahjong tiles engraves the two Chinese characters for the number 8,000 on a piece of acrylic.With a knife in his right hand, Cheung Shun-king turns the tile with the other to cut into it
Reuters•1 hour agoUber, Didi slam Mexico City's new rules on ride-hailing, including cash ban
Mexico City's government on Wednesday issued rules that prohibit cash payments for ride-hailing services, require drivers to register with the city, and ban the use of cheaper cars, among other measures. The regulations mark a setback for San Francisco-based Uber in one of its largest markets ahead
Reuters•1 hour agoOil prices ease on expectation that OPEC will raise output
Brent crude futures were at $74.09 per barrel at 0029 GMT, down 26 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $64.82 per barrel, down 39 cents, or 0.6 percent, from their previous settlement. The move cut parts of Europe off from a major supply
Reuters•1 hour agoPetrobras sells rights to two fields to Malaysia's Petronas for $1.29 billion
Brazil's state-run oil company Petroleo Brasileiro said on Thursday it had closed a $1.29 billion deal with Malaysia's Petronas to sell 50 percent of Petrobas' exploration and production rights in two of its offshore fields. The deal is part of Petrobras' divestment program, which seeks
- Bloomberg•1 hour ago
Worst Seen Over for Most Battered Asian Currency After GDP Shock
Some investors are turning optimistic about the outlook for the semiconductor industry, a key component of the nation’s export-driven economy, after SK Hynix Inc. -- one of the biggest makers of the memory chips used in mobile devices -- forecast a recovery in demand this quarter. “The won should see
- Bloomberg•1 hour ago
Musk, SEC Ask for More Time to Settle Fight Over Tweets
In a joint letter to U.S. District Judge Alison Nathan, Tesla Inc.’s chief executive officer and the securities regulator said Thursday that talks over the past three weeks had yet to produce a settlement in the legal dispute over how Musk posts news about his electric-car company. Meanwhile, Musk has
- The Canadian Press•1 hour ago
California seeks lessons from Florida for fire evacuations
With Hurricane Michael strengthening as it took aim at Florida's Panhandle, Mark Bowen and his employees watched the live footage through tears. Bowen, the county's emergency management chief, had ordered about 120,000 coastal residents to evacuate but only about 20,000 actually left, according
Reuters•1 hour agoTesla's Elon Musk, SEC again ask for more time to reach deal over CEO's Twitter use
Tesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commission on Thursday sought a second delay and requested to provide the court another joint submission on or before April 30, indicating whether they have reached an agreement to settle a dispute over Musk's use of Twitter
- Bloomberg•1 hour ago
Bitfinex Operator Accused by N.Y. of $850 Million Cover-Up
The accusations announced Thursday against iFinex Inc., which runs the Bitfinex trading platform, and the issuer behind Tether speak to one of the most hotly debated questions in the crypto world: Is every Tether really backed by one U.S. dollar? The ultimate answer will have big implications for the
- Bloomberg•1 hour ago
Liverpool F.C. CEO: Tech Is Key to Reach Fans
Apr.25 -- Liverpool FC is fighting for double glory as the club prepares for a much-anticipated Champions league semi-final next week while locked in a tight English premier title race. That's got the club looking for ways to capitalize on their 700 million fans abroad. Ahead of its big match against
- Bloomberg•2 hours ago
Bad News Just Keeps Rolling In for South Korea's Stock Market
About two-thirds of the 50 mostly large-cap Kospi index firms that have announced first-quarter earnings since early this week have missed analysts’ estimates, according to data compiled by Bloomberg. Analysts have lowered estimates for the index’s first-quarter earnings by 3.7 percentage points in
Reuters•2 hours agoAsia shares subdued, dollar pins hopes on U.S. GDP
The yen proved an outlier by gaining as speculators cut short positions ahead of holidays which will see most Japanese markets shut for six whole trading days. The rise in the yen and some mixed Japanese economic data nudged the Nikkei down 0.7 percent. MSCI's broadest index of Asia-Pacific shares
