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  • Facebook (FB) Stock Sinks as Revenue Misses Expectations
Facebook (FB) Stock Sinks as Revenue Misses Expectations

His fortune tumbled by $16.8 billion in late trading Wednesday, as shares of the social media giant slid 20 percent at 5:37 p.m.in NY on disappointing results. Facebook Chief Financial Officer David Wehner told investment analysts on a conference call that the company's operating margin, a key measure of profit, would trend toward the "mid-30s...

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  • Former Fiat Chrysler CEO Sergio Marchionne dies at 66
Former Fiat Chrysler CEO Sergio Marchionne dies at 66

In a brief statement , Fiat chairman, John Elkann, said: " Sergio Marchionne , man and friend, is gone". It is now the world's seventh-largest carmaker and is debt-free. His office on the fourth floor of Fiat's Turin headquarters was adorned with a black-and-white poster of the word "competition" and a Picasso print bearing the motto, "Every act...

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  • Federal aid for farmers is nothing new, but Trump's bailout is
Federal aid for farmers is nothing new, but Trump's bailout is

Nick VanWychen, a Kaukauna farmer, says soybeans are one of the crops most affected by trade disputes. "It doesn't make me feel any better", the operative said. "Hope they do it, we are ready - but they won't!" Some of the money will also go to boosting export efforts. Farmers and producers should be able to begin signing up for the aid begin...

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  • Alphabet hits a record high after earnings top expectations
Alphabet hits a record high after earnings top expectations

As expected, the company's net income was hurt by a record $5 billion antitrust fine imposed by the European Commission. Alphabet continues to look up at Amazon Web Services and Microsoft Azure in the cloud market, although it did disclose earlier this year that combined revenue from Google Cloud and G Suite reached $1 billion a quarter .

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  • Trump threatens more tariffs on U.S. trading partners
Trump threatens more tariffs on U.S. trading partners

President Trump's tariff threats against China, Canada, Mexico and the European Union prompted immediate threats of retaliation. The Washington Post notes that the program was created so long ago that it doesn't require congressional approval while taking out a loan of up to $30 billion.

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  • North Korea ‘begins dismantling’ rocket test site | #TheCube
North Korea ‘begins dismantling’ rocket test site | #TheCube

North Korean leader Kim Jong Un and South Korean President Moon Jae-in agreed at a summit in April to reduce tensions along the border with an eye to turning the DMZ into a "peace zone". However, Mr Trump today said he was "very happy" with the progress in relations with North Korea, saying Pyongyang had not launched any missiles or carried out a...

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  • Tesla shares drop on report that it asked suppliers for refunds
Tesla shares drop on report that it asked suppliers for refunds

Tesla's stock declined 6 per cent in about 20 minutes after his tirade. Concern that the memo signaled that money-losing Tesla was scrambling to find cash to fund its current operations and multiple long-term projects had sent shares down.

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  • Donald Trump willing to slap tariffs on all Chinese imports
Donald Trump willing to slap tariffs on all Chinese imports

Microsoft continued to set records after its fiscal fourth-quarter results topped Wall Street forecasts and its cloud computing division continued to grow. With trade tensions rising, so is the pushback from American business that fear potentially devastating consequences, not only from China but also from Europe, Canada and other countries in ...

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  • GST Council cuts rate on 88 items
GST Council cuts rate on 88 items

Interestingly the sugar cess also came up during the discussion and reportedly a report was submitted for the same. " GST Council cuts tax rate on an array of products". Women politicians, cutting across party lines, have welcomed the government's decision on scrapping GST on sanitary napkins. The GST on sanitary pads has been cut from 12 per ...

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  • EU Fines Google $5 Billion for Breaching Antitrust Rules With Android
EU Fines Google $5 Billion for Breaching Antitrust Rules With Android

The fine is the largest Europe has ever handed out, but as Reuters points out Google's parent company Alphabet Inc has cash reserves of $102.9 billion, and €4.34 billion - despite being a large sum of money - represents just over two weeks' revenue.

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  • Thai Cave Rescuer May Sue Elon Musk Over Deleted
Thai Cave Rescuer May Sue Elon Musk Over Deleted "Pedo" Tweets

But to understand why Musk said it, you need to watch Unsworth's news interview in which he called Musk's offers to help rescue the boys "a PR stunt ". Mr Kay said Mr Musk appeared to be following in the footsteps of US President Donald Trump in using Twitter to vent frustration and insult anyone with whom he disagrees.

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  • U.S. ban on China's ZTE lifted
U.S. ban on China's ZTE lifted

The punishment came after the company made false statements about disciplining 35 employees involved with illegally shipping USA -origin goods to Iran and North Korea , Commerce officials said. The new agreement once again imposes a denial order that is suspended, this time for 10 years, which BIS can activate in the event of additional violat...

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  • Stocks tumble as Asia braces for more United States tariffs on China
Stocks tumble as Asia braces for more United States tariffs on China

European companies that export from China are changing the global flow of their goods to avoid paying higher American tariffs. Donald Trump's administration last week imposed a 25-percent tariff on a wide range of Chinese products, including automobiles.

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  • China vows retaliation as trade war starts
China vows retaliation as trade war starts

United States tariffs on $34bn (£25.7bn) of Chinese goods have come into effect. The Commerce Ministry didn't immediately provide details as to whether and when its pledge to introduce reciprocal tariffs on USA imports would be introduced, creating an air of optimism in financial markets that the trade war may not escalate quickly.

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  • Trump on trade: European Union 'possibly as bad as China'
Trump on trade: European Union 'possibly as bad as China'

Growing strains between the United States and its global trade partners could have a disproportionate impact on South Carolina's economy, potentially hitting local workers and consumers in their wallets. The United States is set to impose tariffs on $34 billion worth of additional goods from China on July 6. According to Foreign Minister Chryst...

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  • Oil falls as Saudi, Russian output rises
Oil falls as Saudi, Russian output rises

He said in the Fox interview that European companies would face sanctions if they traded with Iran now. The State Department has insisted on multiple occasions that Giuliani does not speak on behalf of the administration on foreign policy issues.

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  • Kobe Bryant on LeBron James' arrival in LA -- 'Welcome to the family'
Kobe Bryant on LeBron James' arrival in LA -- 'Welcome to the family'

He played in all 82 games for the first time in his 15-year career in 2017-18 and becomes the first player in National Basketball Association history to lead the post-season in scoring and switch teams during the off-season. He could still re-sign with Cleveland, although the strong current from national media is James appears ready to move again...

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  • As Toys ‘R’ Us Closes For Good, Workers Campaign For Severance
As Toys ‘R’ Us Closes For Good, Workers Campaign For Severance

We made a decision to visit the icon toy store one last time before it closed its doors forever. And the people of the internet are endlessly sad about it, with many taking to Twitter to reveal their heartbreak. You know what they say, Geoffrey when one door closes...another one opens! However, on a more positive note, the 16-foot tall stat...

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  • Trump Attacks Harley Over Possible Overseas Production
Trump Attacks Harley Over Possible Overseas Production

The Wisconsin-based company announced the move on Monday , asserting that shifting some production overseas is necessary to avoid stiff retaliatory tariffs from the European Union . Their employees and customers are already very angry at them. House Speaker Paul Ryan , whose district is home to some of Harley-Davidson's facilities, also ...

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