Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
Univision has won the auction for Gawker Media.
The TV network and digital publisher has agreed to pay $135 million for the bankrupt blog network, according to a person familiar with the deal.
Univision's offer will encompass all seven of Gawker Media's sites, including Gawker.com
Ziff Davis and Univision were the only two bidders for Gawker, which filed for bankruptcy after Hulk Hogan and Peter Thiel won a $140 million judgement in a privacy case. Ziff Davis had originally offered $90 million for Gawker Media.
Here's a statement from Gawker Media owner Nick Denton: "Gawker Media Group has agreed this evening to sell our business and popular brands to Univision, one of America's largest media companies that is rapidly assembling the leading digital media group for millennial and multicultural audiences. I am pleased that our employees are protected and will continue their work under new ownership -- disentangled from the legal campaign against the company. We could not have picked an acquirer more devoted to vibrant journalism."
Mark Patricof, the Houlihan Lokey banker who represented Gawker Media, confirmed the sale price.
"The outcome exceeded our expectations. Both parties put in an awful lot of work, and Ziff Davis deserves credit for their effort," Patricof said. "But ultimately Univision prevailed, and both sides are happy with the outcome."
More from Recode:
Intel blew it on mobile. Now it's trying to avoid missing out on virtual reality.
Web publisher LittleThings says it wants to buy Gawker Media's Jezebel, which isn't for sale
Peter Thiel says journalism will be just fine, since he'll decide what's good journalism
The deal won't be official for a bit. For starters, a US bankruptcy court judge needs to sign off on the transaction. When it is final, the funds will be set aside, while Gawker appeals its court case; eventually the money will go to the side that wins.
Whatever the result of the case, the auction is a disappointing conclusion for Gawker Media owner Nick Denton, who founded the company in 2002.
Last year, as rival media companies like Vice, BuzzFeed and Vox Media (which owns this site) were raising money at increasingly high valuations, Denton was arguing that his company was worth $250 million or more.
Univision, which until recently was best known as a Spanish-language TV network, has been expanding its digital reach in recent years, by acquiring satire site The Onion and The Root, an publication aimed at African Americans.
And earlier this year it picked up full ownership of Fusion, the network and digital publisher aimed at millennials, which it originally launched in conjunction with Disney.
—By Peter Kafka, Recode.net.
Disclosures: CNBC's parent NBCUniversal is an investor in Recode's parent Vox, and the companies have a content-sharing arrangement. NBCUniversal is also a minority investor in BuzzFeed.