CategoryU.S. Business News

Popular American business news with strong opinions and unique expert comments.

Dow Pounds Higher, But ‘Apathetic’ Bitcoin Trades Sideways

stock market bull

The US stock market continued to rise ahead of Friday’s opening bell, with the Dow flashing triple-digit gains and its sister indices making similarly-bullish strides. Bitcoin, though, entered the day with little momentum as the cryptocurrency market demonstrated a lack of conviction. Dow Futures Post Triple-Digit Advance As of am 8:21 am ET, Dow Jones Industrial Average futures had gained 157...

Apple’s Asia Suppliers Slash Sales Forecasts as US-China Trade War Bites

Apple’s suppliers in Asia are cutting sales forecasts in anticipation of reduced iPhone sales as the U.S.-China trade war drags on. Among the hardest hit include Taiwan Semiconductor Manufacturing CO (TSMC) which singlehandedly supplies the iPhone’s core processor chips. According to the Nikkei Asia Review, TSMC estimates that its revenues during this year’s first quarter will fall by 22%...

Tesla Just Dealt a Devastating Blow - Elon Musk Trims 7% of Workforce to Cut Costs

amazon tesla rivian elon musk

Tesla delivered a catastrophic blow to its U.S. workforce this Friday. In a memo reviewed by the Wall Street Journal, CEO Elon Musk said the company will be slashing its staff by 7%. Despite announcing its first gigafactory outside of the United States in Shanghai barely over a week ago, the electronic car maker will be handing over 3,000 of its 45,000-strong workforce their leaving papers. Musk...

'If Humanity Was The Market, You Would Go Short Now': Legendary Investor Pledges $1 Billion to Fight Climate Change

Stock market investment veteran and co-founder of $70 billion fund Mayo Van Otterloo, Jeremy Grantham, has pledged to spend 98 percent of his net worth - approximately $1 billion - on what he sees as a race against the ticking time bomb of humanity's fragile deal with the environment. Bloomberg reports that through his foundation, Grantham and his wife Hanne are currently spending more than $30...

Amazon Shareholders: Stop Selling Facial Recognition to Governments

amazon bitcoin

A group of Amazon shareholders, organized by a non-profit called Open Mic, are demanding that Amazon cease sales of its Rekognition software to government agencies. Open Mic bills itself as “a non-profit that fosters shareholder engagement at leading tech and media companies.” The facial recognition suite has been proven in independent tests to be inaccurate, especially when it comes to...

Will the S&P 500 Crack 3,000 in 2019? Avalon Says Yes

stock market avalon

Avalon Advisors Chief Investment Officer Bill Stone believes that 2019 will be a record year for the stock market despite the December crash and subsequent sluggishness that has seen many investors adjust their outlook for the year ahead. Avalon's Bill Stone Sees S&P 500 Hitting New Highs in 2019 Speaking to CNBC on Wednesday, Stone stated that stocks, in general, are still very much...

Fossil Shares See New Life after Firm Sells Smartwatch Tech to Google

fossil stock share price google smartwatch

Watchmaker Fossil Group's shares spiked today on news it had sold some of its smartwatch technology to Google in a deal worth $40 million. Announced today and expected to close in January, the deal launched Fossil’s share price as high as 10%. By close, though, it had ebbed back to $18.00 for a single-day gain of 3.33%. Fossil is selling intellectual property (IP) “related to a smartwatch...

Dow Jones Rockets after Report Claims Trade War Winding Down

dow, djia, donald trump, trade war

Led by the Dow Jones Industrial Average, the stock market rocketed after reports that the US was to begin lifting tariffs imposed on Chinese imports. However, the market pared those gains after subsequent reports indicated that no such plans had been made. Dow Jones Leaps 250 Points Before Falling Back The Dow rose over 250 points before peaking, and the S&P 500 and Nasdaq jumped 1%. Even...

Do NOT follow this link or you will be banned from the site!