Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
Stocks rose on Friday, but notched weekly losses as investors worried 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
A federal judge in California has blocked President Donald Trump from building sections of his long-sought border wall with money secured under his declaration of a national...Politicsread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
The race is underway to find a vaccine that can control African swine fever, a highly contagious and deadly viral infection ravaging China's hog population. There is currently...Agricultureread more
Baidu on Friday said its operating chief, former Microsoft executive Qi Lu, will be stepping down in July, less than two years into his tenure there. Baidu stock was down more than 9 percent after the announcement.
The move is a loss for one of China's leading tech companies, which are racing like American technology companies to enhance services with artificial intelligence.
Baidu hired Lu to take on day-to-day operations on behalf of CEO Robin Li in January 2017. Immediately prior to that, he was an executive vice president at Microsoft, where he was in charge of Office applications. Earlier in his career he worked at IBM and Yahoo. Office is now a key part of Microsoft's growing Commercial Cloud.
"We have seen many positive changes at Baidu since Qi joined last year. I'm especially impressed by Qi's integrity, dedication to work and sharp insights into technologies and businesses," Li said in a statement on the news.
Lu said in the statement that he can no longer work full-time in China for "personal and family reasons" and will spend more time in the U.S. He will retain his role as vice president of Baidu's board and will focus on research and development, although he won't be working full-time for Baidu.
"I'm honored to have participated in Baidu's transition into an AI-first company," Lu said. Microsoft and Google, among others, have also sought to reshape themselves around AI.