Tech share plunge drags Asian stocks lower
TOKYO (Reuters) – Asian shares fell on Thursday, weighed down by a plunge in high-flying technology shares, a move that some see as a healthy correction after a strong rally but others believe may herald the peak of a “super cycle” that has been boosti…
Wisconsin county’s credit rating cut over Foxconn financial aid
(Reuters) – A decision by Wisconsin’s Racine County to give financial assistance to Taiwan-based Foxconn to build a massive liquid-crystal display plant has led to a credit rating downgrade for the county.
Soros persuades U.S. judge to allow $10 billion Guinea mine case arbitration
NEW YORK (Reuters) – A U.S. judge on Wednesday put on hold a $10 billion lawsuit against George Soros in which companies controlled by fellow billionaire Beny Steinmetz claimed his campaign of defamation cost them a lucrative iron ore deposit in Guinea…
Uber lawyer says board, ex-CEO knew of evidence withheld from Waymo case
SAN FRANCISCO (Reuters) – Uber Technologies Inc’s former chief executive and some board members knew of a letter alleging employees had stolen trade secrets, but the document was withheld from a high-stakes lawsuit, a company attorney testified on Wedn…
U.S. healthcare shares climb as investors see upside from Republican tax bill
NEW YORK (Reuters) – Shares of U.S. healthcare companies mostly climbed on Wednesday, as investors saw some potential upside for the stocks from a Republican-led bill to cut taxes.
Nasdaq falters as investors flee tech for banks
(Reuters) – The Nasdaq posted its biggest one-day drop in more than three months on Wednesday as investors fled high-flying technology stocks and shifted to banks and other pockets of the market that could benefit from improving economic conditions, l…
Bubble trouble? Bitcoin tops $11,000, but fades after sharp rally
LONDON/NEW YORK (Reuters) – Bitcoin zoomed past $11,000 to hit a record high for the sixth day in a row on Wednesday after gaining more than $1,000 in just 12 hours, stoking concerns that a rapidly swelling bubble could be set to burst in spectacular f…
Slump in Facebook, Apple raises prospects of tech rally brake
SAN FRANCISCO (Reuters) – Shares of Facebook , Apple and other technology heavyweights dropped on Wednesday, creating uncertainty over whether the top-performing sector’s record-breaking rally this year is ending or merely taking a break.
Meredith’s Time buy helps lift U.S. media lending to 11-year high
NEW YORK (Reuters) – U.S. media group Meredith Corp’s planned purchase of Time Inc is the latest in a run of mergers that have boosted media lending to the highest point in more than a decade as the sector regroups to fight online content providers.
AT&T CEO says blackout ban shows company willing to settle DOJ fight
(Reuters) – AT&T Inc’s proposed seven-year ban on programming blackouts to distributors of some Time Warner Inc content shows that the company is willing to offer concessions to close its $85.4 billion bid for the programmer, AT&T’s chief executive officer said on Wednesday.
