Consumers in China are taking to social media to express their support for Huawei as the U.S. government looks to ramp up pressure on the Chinese smartphone maker.Technologyread more
U.S. President Donald Trump's latest tariff increase — and Beijing's plans to counter them — are hitting U.S. companies in China, according to a joint survey this month by...China Economyread more
"We are also constantly watching whether the trade war will turn into a tech war," Ma said Tuesday, according to a CNBC translation of his Chinese remarks published by a locak...China Economyread more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
Kohl's, J.C. Penney and Nordstrom release disappointing earnings news, putting a damper on their sector.Retailread more
Bezos's comments give a rare glimpse into his interest in the auto industry. Amazon recently invested in two self-driving start-ups.Technologyread more
While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks...Hedge Fundsread more
The economist thinks the Fed ought to pay more attention to financial markets when setting interest rates.The Fedread more
U.S. Trade Representative Robert Lighthizer will meet with officials from the European Union and Japan at the ministerial meeting of the Organization for Economic Co-operation...World Economyread more
Talks between the world's two largest economies have stalled after each nation lobbied higher tariffs on the other's imports.Traderead more
"Pretty much the entire suite of apps that 'talk' over the internet could be vulnerable," said Tom Uren, a senior analyst at the Australian Strategic Policy Institute's...Cybersecurityread more
Amazon CEO Jeff Bezos stunned everyone with his revealing post accusing the National Enquirer of extortion and blackmail, but analysts covering the biggest online retailer don't really care and believe the swirling controversies won't affect his ability to lead the internet retailing and cloud software juggernaut.
Bezos, Amazon's single largest shareholder and the world's richest man, revealed in a personal online post Thursday night that the Enquirer allegedly tried to blackmail him, showing emails threatening to publish nude selfies and details of his extramarital affair.
"At the end of the day, we get back to the fundamentals of the company, irrespective of what executives are doing," said Ron Josey, internet analyst at JMP Securities. "I would be surprised if it had a negative impact on Amazon. It's such a large business with a lot of different opportunities and operation. The way it's set up with leadership across retail and AWS and the businesses underneath with logistics and advertising ... there's a lot of support here."
"I don't think the allegations have a direct line into the fundamentals of Amazon," added Anthony DiClemente, internet analyst at Evercore ISI. "Certainly from a public relations standpoint, I don't think it's ideal. When you look at the fundamentals, it's hard to imagine it will have a negative impact."
The personal woes for Bezos began when he announced plans to divorce his wife of 25 years on Jan. 9, leaving the whole industry speculating how it could impact Amazon shareholders and Bezos' own 16 percent stake. Later the online retailer on Jan. 31 reported mixed fourth-quarter earnings and issued weak guidance.
Amazon stock has dropped nearly 5 percent since the day before the divorce announcement through Friday, bringing its market cap down to about $793 billion. The online retail giant has underperformed the broader market, the consumer discretionary sector and the technology sector as much as 12 percent during this period. The divorce news possibly could be part of the driver, but the real reason for the underperformance is more likely the company's warning during the earnings call last week of increased spending and slowing growth in 2019.
The stock dropped another 1.6 percent Friday.
When asked about Bezos' post, RBC's internet analyst, Mark Mahaney, had similar sentiments, saying "I did read it. No dramatic reaction."
Bezos retained his longtime security chief Gavin de Becker to lead the investigation into Enquirer's practice. In the online post, Bezos did make efforts to acknowledge his giant businesses that required his time and devotion, and he does not want to stray too far away from them.
"I asked him to prioritize protecting my time since I have other things I prefer to work on and to proceed with whatever budget he needed to pursue the facts in this matter," Bezos wrote.
The Enquirer's parent company, American Media, insisted on Friday that it "acted lawfully" in reporting about Bezos' extramarital affair, but said it will "promptly and thoroughly investigate the claims."
"He seems to be the type of individual who's able to navigate challenges. I don't think this is going to have a negative impact on how he runs the company or his influence within Amazon," said Tom Forte, consumer technology analyst at D.A. Davidson. "This isn't a situation like Facebook where there's a super voting share class. He does not have voting control. I would argue his influence within Amazon is a reflection of his vision and his track record."