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Saudi billionaire invests $250 million in social-media app

Snap Revenue Beats on Mobile-Ad Demand; Alwaleed Takes Stake

bloomberg.com • Business

Snap Inc.’s second-quarter revenue topped analyst projections, signaling a pickup in demand for mobile advertising even as a controversial redesign of the Snapchat mobile app continued to hinder user growth.

The social-media giant says it has removed 32 accounts for ‘inauthentic behavior’ but hasn’t identified who is behind the accounts

Facebook Pulls Fake Accounts That Mimic Russian Tactics Ahead of Election

wsj.com • Business

Facebook Inc. said it discovered a new group of accounts that engaged in coordinated political agitation and misinformation efforts ahead of November’s midterm elections, in an echo of Russian activities on the platform during the 2016 U.S. presidential campaign.

They include food products, chemicals, steel and aluminum and consumer goods

Trump to propose 25-percent tariff on $200 billion of Chinese imports: source

reuters.com • Business

The Trump administration plans to propose slapping a 25-percent tariff on $200 billion of imported Chinese goods after initially setting them at 10 percent, in a bid to pressure Beijing into making trade concessions, a source familiar with the plan said on Tuesday.

Average selling price of popular smartphone line reaches $724

Apple Forecast Tops Estimates on High-End iPhones, Services

bloomberg.com • Business

Apple Inc. shares jumped 4 percent in extended trading after the company projected sales suggesting consumers are continuing to snap up the company’s high-end iPhones even as updated models are on the horizon.

Political and social crises didn't cause Facebook's business to falter, but they're not helping the company's outlook

Has Facebook peaked? Stock plunge highlights deeper problems

nbcnews.com • Business

The question has hung around Facebook ever since it overtook Myspace a decade ago as the largest social network: When will Facebook peak?

Wall Street had been braced for a disappointing quarter

Starbucks reports cooling quarterly growth and pares outlook

reuters.com • Business

Starbucks Corp (SBUX.O) forecast slower growth for the current fiscal year on Thursday as boutique coffee chains and fast-food retailers won business in the United States and other established markets and the bloom came off once-booming China.

Revenue misses Wall Street forecasts, but focus is on earnings

Amazon’s New Businesses Push Profit to a Record

bloomberg.com • Business

Amazon.com Inc. reported better-than-expected earnings in the second quarter and forecast more of the same in the current period, igniting investor optimism about cloud computing, advertising and other businesses that are more profitable than its main online retail operation.

surprise!

Michelle Williams Is Married: Actress Secretly Weds Phil Elverum

eonline.com • Business

The 37-year-old Dawson's Creek alum and Blue Valentine actress wed indie rock musician and Mount Eerie singer Phil Elverum, 40, earlier this month, Vanity Fair reported on Thursday. Williams, who is notoriously private, and her husband had never gone public with their relationship.

It is a clear signal the U.S. President Donald Trump is determined to stick with tariffs

Trump wants $12 billion in aid to U.S. farmers suffering from trade war

reuters.com • Business

The Trump administration on Tuesday said it will use a Great Depression-era program to pay up to $12 billion to help U.S. farmers weather a growing trade war with China, the European Union and others that the president began.

Mike Manley takes over top role from Sergio Marchionne as auto maker deals with rapidly evolving industry, global trade dispute

Sudden CEO Shift Jolts Fiat Chrysler

wsj.com • Business

The deteriorating health of Sergio Marchionne forced Fiat Chrysler Automobiles NV to replace him as CEO this weekend, a sudden change at a company dealing with a rapidly evolving industry and a global trade dispute.

WeChat is leaving money on the table

The World’s Most Powerful App Is Squandering Its Lead

bloomberg.com • Business

Tencent Holdings Ltd.’s strategy for expanding WeChat Pay 1 globally is pretty straightforward: Follow the (tourism) money. Grace Yin, operations director of WeChat Pay’s international business, summarized Tencent’s approach at the RISE Conference earlier this month in Hong Kong: If a place has a Chinese tourist, then this place is our target.

Shares in Chinese vaccine makers and biotech firms fell across the board on Monday

China vaccine scandal ripples through domestic market, threatens global push

reuters.com • Business

A vaccine scandal in China, which has hit a nerve in the country and prompted quick reactions from leaders in Beijing, is sending ripples across the wider domestic drug market while threatening to dent Chinese ambitions to play a larger global role.

Japan's Nikkei .N225 leapt 1 percent as a weakening yen promised to fatten exporters' profits

Japan stocks bounce as yen bows before strong dollar

reuters.com • Business

Asian shares followed Wall Street higher on Wednesday as a bullish outlook from the head of the U.S. central bank buoyed the dollar, lifted Tokyo shares to a one-month top and sent gold to a one-year trough.

Predecessor Rich Templeton to return to job permanently

Texas Instruments CEO Ousted for Code of Conduct Breach

bloomberg.com • Business

Texas Instruments Inc. said Chief Executive Officer Brian Crutcher resigned after less than two months in the job, citing violations of the chipmaker’s code of conduct. His predecessor, Rich Templeton, will resume the role on a permanent basis.

The rollback came a day after Trump took aim at Pfizer

Pfizer delays drug price hikes after talking with Trump

reuters.com • Business

Pfizer Inc (PFE.N) said on Tuesday it was deferring drug price increases for no more than six months after the company’s chief executive officer had an extensive conversation with U.S. President Donald Trump.





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