Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
Stocks fell on Friday as Wall Street parsed through a highly anticipated speech from Federal Reserve Chairman Jerome Powell.US Marketsread more
China says the new tariffs will begin Sept. 1 and Dec. 15. That's when President Trump's latest tariffs on Chinese goods are to take effect.Marketsread more
On Tuesday, Walmart filed suit against Tesla alleging its solar panels had caused fires in seven of its stores.Technologyread more
The idea came up as the White House brainstorms on ways to avoid a preelection economic slowdown, The Washington Post reports.US Economyread more
The Koch brothers financed one of the most influential political networks in the modern era. The sprawling political empire includes conservative and libertarian nonprofits...Politicsread more
At least three members of Facebook's Libra organization are considering leaving the operation due to intense regulatory scrutiny.Technologyread more
Google on Friday released a new set of community guidelines that are meant to crack down on what employees can say inside the company.Technologyread more
Emails between Facebook employees from 2015 illustrate early actions the company took to investigate third-party use of their data.Technologyread more
Andrew McCabe filed a lawsuit alleging that his removal was part of a scheme by President Donald Trump to remove government employees "because they were not politically loyal...Politicsread more
Falling air cargo demand could be flashing warning signs about the broader economy.Transportationread more
While the e-commerce giant beat predictions on earnings per share, it missed on revenue, reporting $56.6 billion versus $57.10 billion analysts anticipated in a survey by Refinitiv. The drop represents a $70 billion loss in market cap, allowing Microsoft to pass Amazon in market cap.
It's Amazon's worst day since Jan. 29, 2016.
The company reported weaker-than-expected guidance for the holiday season, which gave analysts some pause. Amazon expected $2.1 billion to $3.6 billion in fourth-quarter operating income, well below Street estimates of $3.9 billion.
Still, Amazon's cloud computing business and nascent advertising business seem to be faring well. Amazon Web Services reported $2.1 billion in operating income for the quarter, beating FactSet estimates of $1.82 billion. In its "other" category, which is mainly made up of Amazon's advertising business, the company reported $2.5 billion in net sales.