Trump said he will raise tariffs on $250 billion in Chinese goods to 30%, and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Bank of England Governor Mark Carney says trade war has a confidence effect on business around the worldMarketsread more
Supreme Court Justice Ruth Bader Ginsburg has completed a three-week course of radiation therapy for cancer, the top court said in a statement Friday.Politicsread more
Zoom, the provider of videoconferencing software, raised the price of its IPO range on Tuesday, showing that investors have high hopes for fast-growing cloud companies, particularly when they can turn a profit.
The company said in an updated prospectus that it now expects to price the offering at $33 to $35 a share, up from its previous range of $28 to $32. At the top end of the current range, Zoom would be worth $8.9 billion.
Even before increasing the range, Zoom was set to be one of the most richly valued cloud software companies, based on its valuation relative to the size of the business. At $35, the stock would trade for 27 times Zoom's enterprise value, trailing only security vendor Zscaler, which has an EV/sales multiple of 33, according to FactSet. Okta has a multiple of 26.5, followed by Atlassian at 25.8.
Zoom's revenue surged 118% last year to $330.5 million, and it has the rare distinction among emerging tech companies of being profitable. Zoom will be hitting the market at about the same time as Pinterest this week. It will be the second notable software offering of the year after PagerDuty, which debuted last week and has gained 58 percent from its IPO price to $38.
Emergence Capital, Zoom's biggest outside shareholder, will own a stake worth just over $1 billion at a $35 price, while Sequoia's holdings would be worth slightly less than $1 billion.