Stocks were headed for weekly losses on Friday as investors worry the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
United Airlines will take its 14 Boeing 737 Max jets off its schedule for another month, through Aug. 3, canceling another 1,290 flights.Airlinesread more
Roughly three dozen House Democrats have called for impeachment hearings on President Donald Trump, a billionaire's TV ads rip the House for "doing nothing," and legal experts...Politicsread more
J.P. Morgan economists say they now see a much slower economy in the second quarter, with growth of just 1%.Market Insiderread more
If consummated, the deal would mark the latest in a flurry of activity in the payment technology space.Banksread more
The Pentagon will send additional American troops, drones and fighter jets to the Middle East amid increasing tensions between the United States and Iran.Politicsread more
Some of America's most glittery TV spectacles will have a Chinese owner.
Dalian Wanda Group said on Friday that it would buy Dick Clark Productions for about $1 billion, giving it the broadcasting rights to the Golden Globe Awards, the Academy of Country Music Awards and the New Year countdown celebrations in New York.
More from the New York Times:
Chinese Purchases of U.S. Companies Have Some in Congress Raising Eyebrows
Dalian Wanda of China Offers a Carrot to Hollywood
As China Strikes Deals, U.S. ConsidersExpanding Foreign Reviews
Dalian Wanda has been on a multibillion-dollar spending spree in the entertainment industry. It is the world's biggest owner of movie theaters, with complexes across the United States, Europe and Australia. This deal would bring productions including Miss America and the Hollywood Film Awards under the same roof as "Godzilla" and "300," films by Legendary Entertainment, another company that Wanda snapped up in recent years.
Some see the company as a propaganda threat, and it has had to defend itself against concerns that its acquisitions are part of a pro-Chinese agenda.
The Justice Department has been asked to review Wanda's recent purchases because of fears that the company, which has financial ties to relatives of senior Chinese Communist leaders, could be trying to influence how China is portrayed in films.
Wang Jianlin, chairman of the Dalian Wanda Group, told The New York Times in October that his company only wanted to help American film companies increase their market share in China. Mr. Wang, who was visiting the United States to attract more film production to Wanda's Qingdao Movie Metropolis, added that it was "not like we are invading" and pointed out that Wanda had bought and strengthened struggling companies like AMC Theaters and Legendary.
This would be its first step into television production. The company noted in a news release that it would be "occupying the highest-end TV program resources from the start," adding that these television rights would be "complementary" to its focus on film, tourism and sports.
Wanda agreed to keep Dick Clark's managers and has signed a long-term agreement with them.
Follow CNBC International on and Facebook.