Trump's ratings on trade reportedly don't fare much better in key industrial states — which carried him to victory in 2016 and are crucial for his 2020 reelection bid, but...Politicsread more
Treasury Secretary Steven Mnuchin says he has spoken with a top Walmart executive about how it can keep prices low amid the U.S.-China spat.Marketsread more
When the Fed releases minutes of its last meeting on Wednesday afternoon, it risks sounding a bit hawkish.Market Insiderread more
China is considering cutting natural gas purchases from the U.S. in its tit-for-tat on trade, according to the South China Morning Post.Marketsread more
You can do more with Instagram than post pictures and see the photos other people publish. Here are a bunch of tips to use Instagram like a pro, from posting live video to...Technologyread more
Tesla's latest version of its Navigate on Autopilot feature could be a potential safety risk for drivers as it requires substantial human intervention, according to findings...Autosread more
Target's CEO thinks the retail industry is shaking out to show clear winners and losers. Those companies that are investing in stores and online are winners, he said.Retailread more
Such a move could provide a buffer against any economic weakness that the U.S.-China trade war could cause.The Fedread more
Morgan Stanley caused a stir with its "bear case" scenario of $10. Now, Citi is getting in on the act.Investingread more
A federal judge grants an injunction ordering Qualcomm to renegotiate its licensing agreements.Technologyread more
The redesign of the $20 bill featuring Harriet Tubman will no longer be unveiled in 2020, Treasury Secretary Steven Mnuchin said on Wednesday.Politicsread more
Music streaming service SoundCloud on Thursday said that it cut 173 jobs, or 40 percent of its staff, as it seeks to become profitable.
SoundCloud also said it has consolidated its employees into two offices -- the Berlin headquarters and New York. SoundCloud is closing its San Francisco hub and a spokesperson said the company is talking with staff in London about the future of that office.
"In the competitive world of music streaming, we've spent the last several years growing our business, and more than doubled our revenue in the last 12 months alone," SoundCloud co-founder and CEO Alex Ljung wrote in a blog post. "However, we need to ensure our path to long-term, independent success. And in order to do this, it requires cost cutting, continued growth of our existing advertising and subscription revenue streams, and a relentless focus on our unique competitive advantage — artists and creators."
Music streaming is a brutal place to try and make money. In June, Pandora CEO Tim Westergren left the company he created 17 years ago, as the internet radio and subscription service struggles to turn a profit while paying out required royalties to artists.
"By reducing our costs and continuing our revenue growth, we're on our path to profitability and in control of SoundCloud's independent future," Ljung wrote.
SoundCloud said it has 175 million monthly unique users, which is unchanged from 2014. In March SoundCloud said it had received a $70 million line of credit.