As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
Activists with Black Lives Matter, who met privately with Buttigieg in the weeks after police shot and killed Eric Logan, say the 37-year-old mayor brushed off their concerns...2020 Electionsread more
DoubleLine CEO Jeffrey Gundlach said the Federal Reserve might need to embark on quantitative easing to increase the money supply.Marketsread more
Wall Street economists think the Fed will cut rates by 25 basis points at its September meeting but have differing views about what will happen in the future.Marketsread more
Federal prosecutors and commodity regulators have broadened their investigation into spoofing activity after receiving information from traders questioned for spoofing-related...Marketsread more
General Motors announced on Wednesday that it plans to temporarily lay off 1,300 workers at its final assembly plant in Oshawa, Canada due to a slowdown at U.S. plants during...Autosread more
Trump said he "is revoking" a federal waiver that allowed the state to craft its own rules on greenhouse gas emissions from vehicles.Politicsread more
FedEx CEO Fred Smith mentioned Amazon as one of his competitors during Tuesday's earnings call, a shift in stance for a company that's long downplayed Amazon's move into the...Technologyread more
DoubleLine Capital's Jeffrey Gundlach spoke to CNBC on Wednesday ahead of the Federal Reserve's decision on interest rates.Marketsread more
Shares of Roku fell on Wednesday after Comcast announced a new deal on its connected boxes and Facebook launched a new Portal TV device.Technologyread more
J.P. Morgan Chase chief Dimon says he doesn't think the U.S. is close to recession and called the Fed's Powell "a quality human."Marketsread more
The iPhone XR is the only model in Apple's latest iPhone release that still uses an LCD display, rather than an organic light-emitting diode (OLED) display, which allows for greater design flexibility and is supposed to show a higher-quality color display. But the phone, which was expected to be more appealing to budget-conscious shoppers with a price tag starting at $750 rather than $999 for the XS, has failed to meet sales expectations. Earlier this month, Apple published a letter to investors downgrading its guidance for its first quarter of 2019 in light of weak iPhone sales, among other factors.
However, CEO Tim Cook told CNBC earlier this month that the XR has been Apple's best-selling iPhone model since it launched last fall.
The shift from LCD to OLED would have a great impact on Apple suppliers like Japan Display, which is already suffering from supply cuts from Apple, the Journal reported. Japan Display, which supplies LCD displays for Apple, is in advanced talks with an investor group from Taiwan and China to bail it out with a potential investment of the equivalent of $550 million with a 30 percent stake in the company, the report says. The deal could give Taiwan's TPK Holdings and Chinese state-owned Silk Road Fund even more control of the company later on, the Journal reported.
Japan Display has sought bailouts in the past as the industry has begun to shift to OLED displays. In 2016, Japan Display sought a bailout equal to about $703 million from a fund backed by the Japanese government as Samsung increasingly used OLED displays in its designs, the Journal reported at the time.