Economists polled by Reuters had expected Chinese exports denominated in the U.S. dollar to fall by 3% and imports to decline by 5.2% in September, compared to a year ago.China Economyread more
The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
A technical recession occurs when there are two consecutive quarters of economic contraction.Asia Economyread more
"Deepfakes" are being used to depict people in fake videos they did not actually appear in, and can potentially affect elections, diplomacy and how markets move, experts say.Technologyread more
Chinese President Xi Jinping warned on Sunday that any attempt to divide China will be crushed.China Politicsread more
U.S. President Donald Trump said that both sides reached a "very substantial phase one deal" that will address intellectual property and financial services concerns and...Asia Marketsread more
Hagibis dropped record amounts of rain for a period in some spots, according to meteorological officials, causing more than 20 rivers to overflow.Asia Newsread more
A spokesperson for the U.S.-backed Syrian Democratic Forces (SDF) has issued a stark warning to the international community.World Newsread more
The potential deal would shift Neumann's already diminished voting power to the Japanese conglomerate, according to the Journal.Technologyread more
On Friday, Zedd tweeted about the ban, and CNBC verified the claim with his publicist on Saturday.China Politicsread more
Yelp shares jumped as much as 10 percent after releasing its earnings report Wednesday where it announced it is increasing its share buyback by $250 million. The company handily beat analyst expectations on both revenue and earnings per share.
Here are the numbers Yelp posted compared to analyst expectations:
Earnings per share: $0.37 per share vs. estimate of $0.10 per share, per Refinitiv
Revenue: $244 million vs. estimate of $241 million, per Refinitiv
Yelp's board had previously authorized a $250 million share repurchase program but announced Wednesday that the board is doubling the buyback program to a total of $500 million.
Yelp pointed to strategies that it believes will increase its shareholder value, including expanding business offerings and continuing and seeking effective partnerships like the one it has with Grubhub. Yelp said it believes it will achieve stronger revenue half in the later half of 2019 and "mid-teens revenue growth on an compound annual growth basis from 2019 to 2023."
The company also announced three new board members. Twilio COO George Hu, Stripes Group Operating Partner and former Starbucks CMO and CPO Sharon Rothstein and serial HomeAway co-founder Brian Sharples were appointed to the board and will begin their terms on March 1. On that day, they will replace current board members Geoff Donaker, Jeremy Levine and Peter Fenton, Yelp said.