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Tech companies help pull US stocks lower in afternoon trade

U.S. stocks moved broadly lower in afternoon trading Thursday, placing the market on track for its first loss this week. Technology companies, makers of consumer products and health care stocks accounted for much of the slide. Banks bucked the trend, rising along with bond yields. Oil prices …

Stock Markets

Amazon Nears Record Amid Wall Street Praise for Prime Milestone

Amazon.com Inc. shares gained as much 2.7 percent intraday, putting the online retailer within approximately 3 percent of its March 12 record-high …

eCommerce

Procter & Gamble earnings top estimates, but market share losses send stock lower

Procter & Gamble reported better-than-expected quarterly revenue on Thursday, but its results did not allay concerns about loss of market share in …

Investing

‘They can’t be here for us’: Black men arrested at Starbucks tell their story for the first time

One week after they were arrested at a Philadelphia Starbucks, the two black men seen in a cellphone video viewed more than 11 million times went on “Good Morning America” Thursday to describe how arriving 10 minutes early to a business meeting put them in handcuffs.<p>Rashon Nelson and Donte …

Justice

The next mega merger could be a $60 billion drug deal

Investors are eyeing up another potential mega merger in the pharmaceutical industry.<p>Shares in Shire (SHPG) surged by as much as 12% on Thursday in London trading after two rival drugmakers said they were considering a bid for the biotech company.<p>Things kicked off when Japan's Takeda (TKPHF) said …

Biotechnology

FAA will order engine inspections after deadly Southwest Airlines flight

An eerily similar incident occurred in 2016 involving a Southwest flight and the same type of engine.<p>Aviation authorities will begin ordering airlines to inspect a certain type of jet engine after this week's midair explosion that forced a Southwest Airlines flight from New York to make an …

Aviation

IMF issues warning on global debt

<b>The International Monetary Fund says that high global debt is a concern.</b><p>In a new report, the IMF says governments should use the current strong economic growth to strengthen their finances.<p>The organisation also says that risks to global financial stability have increased.<p>It does, however, also say …

Economy

CEO of Botox competitor: 'With scale,' we think we'll have the same margins as the market leader

Jim Cramer hears from Revance Therapeutics co-founder, President and CEO Dan Browne about his biotechnology therapy that competes with Allergan's …

Jim Cramer

U.S. stocks trade lower as rising rates spook investors

“Fast Money Halftime” traders Josh Brown, Jon Najarian and Joe Terranova discuss Thursday’s market action. CNBC's Steve Liesman also weighs in.

Stock Markets

75% of the ultra-rich forecast a US recession in the next two years, survey finds

The U.S. economy is firing on all cylinders, yet 75 percent of ultra-high net worth investors predict it will hit recession by 2020, a J.P. Morgan …

U.S. Economy

Marine Layer Grows From Apparel to Airbnb

The company, that started off with the mission of creating the world's softest t-shirt, is branching out into rentable spaces above its stores to …

Clothing

MealPal Learns to Operate Within Tight Margins

With 8 million lunches served in 16 cities around the world since it launched two years ago, the food delivery service MealPal has found success by …

Startups

Exclusive: Gaming Chat App Discord Seeks to Join Unicorn Club With New Round of Funding

Discord is looking to raise $50 million in additional funding, which would double its valuation to roughly $1.5 billion.<p>The intent to raise the new …

Gaming Industry

Wells Fargo loses teachers union AFT over ties to NRA, guns

Wells Fargo's financial relationship with gun makers and the National Rifle Association has cost the bank its mortgage business with a major U.S. union.<p>The American Federation of Teachers on Thursday notified the San Francisco-based financial giant that it is dropping the bank as a recommended …

Finance

The Mexican peso is getting slammed amid political uncertainty

• <b>The Mexican peso was down nearly 1.50% on Thursday afternoon.</b>• <b><br>The dive came after a poll showed strong support for presidential candidate and staunch leftist Andres Manuel Lopez Obrador.</b>• <b><br>Obrador has a 22 point lead in the July presidential race, according to a poll.</b><p>The Mexican peso dove Thursday amid …

Mexico

UK mulls plan to ban plastic straws and cut waste

LONDON (AP) — Britain's government wants to take action to ban plastic straws, drink stirrers and cotton buds — and is urging other Commonwealth nations to follow suit.<p>Prime Minister Theresa May said Thursday that "plastic waste is one of the greatest environmental challenges facing the world." She …

Pollution

From corporate bonds to the HK dollar, analysts see the QE unwind

(Reuters) - The long-awaited unwinding of the Federal Reserve's balance sheet could be having negative consequences across markets, including recent U.S. corporate debt weakness, elevated bank funding costs, volatile stock markets and a tumbling Hong Kong dollar.<p>While some analysts and investors …

Stock Markets

US experts back marijuana-based drug for childhood seizures

WASHINGTON (AP) — A panel of government health advisers is recommending approval of a medicine made from the marijuana plant to treat childhood epilepsy, moving the medication closer to the U.S. market.<p>The Food and Drug Administration experts voted unanimously Thursday in favor of the experimental …

Cannabis

Linn Energy to split in two; CEO Ellis to retire

Linn Energy (OTCQB:LNGG +2.3%) is higher after unveiling a plan to split into two new companies later this year under new leadership.<p>Riviera …

Oil & Gas Industry

E. Coli Outbreak Tied to Romaine Lettuce Expands to 16 States

At least 53 people have been sickened by tainted, chopped romaine lettuce in an expanding E. coli outbreak that now spans 16 states, the Centers for Disease Control and Prevention said on Wednesday.<p>The contaminated greens have been traced to Yuma, Ariz., but investigators recommended abundant …

E.coli

Lockheed Martin just got one step closer to handing hypersonic weapons to the US Air Force

Speed is undoubtedly the new stealth and the Pentagon's top weapons supplier just got one step closer to handing hypersonic weapons to the U.S. Air …

Aviation

IMF's Lagarde: Trade tensions threaten global economy

WASHINGTON (AP) — The head of the International Monetary Fund is warning that the healthiest global economy in years is being threatened by rising debt levels and a simmering trade dispute between the world's two biggest economies.<p>IMF Managing Director Christine Lagarde told reporters a U.S.-China …

Economics

Bernie Sanders Backs Bill To Punish States With Harsh Marijuana Laws

Several potential rival presidential candidates are teaming up on legislation to end the federal war on marijuana.<p>On Thursday, U.S. Sen. Bernie Sanders (I-VT) is signing on as a co-sponsor of the Marijuana Justice Act, introduced last year by Sen. Cory Booker (D-NJ).<p>Many political observers expect …

Cannabis

Artist Jeff Koons and New York Gallery Accused of Inappropriate Practices in Suit

New York’s Gagosian Gallery and Jeff Koons were sued by a collector who accused gallery founder Larry Gagosian and the artist of scheming to exploit …

Fine Art

Tesla May Hit The Wall On Battery Capacity By 2022

Tesla’s completed Gigafactory will have a battery capacity of up to 150 gigawatt-hours.<p>Projected production rates for the Model 3, Tesla Semi, and …

Tesla

'Pharma Bro' moves to New Jersey _ for federal prison stay

FORT DIX, N.J. (AP) — The pharmaceutical-industry entrepreneur vilified for jacking up the price of a life-saving drug was moved Tuesday to a low-security federal prison in New Jersey.<p>Martin Shkreli was sent from the Brooklyn Metropolitan Detention Center in New York to the Federal Correctional …

New Jersey

The Fearless Girl Statue Won't Be Staring Down the Charging Bull Anymore. But She'll Be Close By

After a year of staring down Wall Street’s “Charging Bull” in New York City, the “Fearless Girl” is moving.<p>The defiant statute is moving just a few …

Art

DeBeers rolls out app to clean up Sierra Leone diamond supply chain

JOHANNESBURG (Reuters) - Global diamond giant De Beers is rolling out an app to help small-scale, artisanal diamond miners in Sierra Leone certify that gems they pry from the soil are legal, the Anglo American unit said on Thursday.<p>The initiative is the latest attempt by the industry to clean up …

Africa

Aluminum turns lower, giving up gains on Rusal nationalization rumors

Aluminum prices reverse lower, giving up earlier gains on speculation of a Russian state-backed rescue deal for major producer Rusal.<p>The metal …

Rusal

Merkel Huddles With Macron to Coordinate Trade Pitch to Trump

Emmanuel Macron and Angela Merkel are drawing up a common message on global trade ahead of trips to Washington next week.<p>The French president and the …

Europe

Kinder Morgan Inc. Starts 2018 Off With a Bang

The pipeline giant exceeded expectations and made good on its promised dividend hike.<p>As promised, natural gas pipeline giant <b>Kinder Morgan</b> (NYSE:KMI) …

Investing

Every Lyft ride to be offset by a carbon credit to reduce global warming

SAN FRANCISCO — Cars and trucks contribute nearly a third of the nation's greenhouse gases, according to the Environmental Protection Agency.<p>If that pains you, Lyft is offering a salve.<p>Starting Thursday, the pollution produced by every vehicle on Lyft's platform will be offset by a self-imposed …

Lyft

Qualcomm begins layoffs, pushes NXP deadline down the road

Qualcomm (NASDAQ:QCOM) is beginning layoffs as part of an effort to reduce costs, according to CNBC. As many as 1K employees are reported to be part …

Administrative Law

Exclusive: Unsold aluminum piling up at sanctions-hit Rusal factory

MOSCOW (Reuters) - Russian aluminum giant Rusal <0486.HK> is stockpiling large quantities of aluminum at one of its plants in Siberia because U.S. sanctions imposed this month have prevented it from selling the metal to customers, four sources close to the company said.<p>With the firm's own storage …

Rusal

As Opioid Prescriptions Fall, Prescriptions for Drugs to Treat Addiction Rise

WASHINGTON — The number of new monthly prescriptions for medications that treat opioid addiction nearly doubled over the past two years, according to new data, while prescriptions for opioid painkillers continued to decline.<p>The changing calculus reflects a stepping up of efforts among policymakers …

Pharma

Russia joins bid to win compensation over US metals tariffs

GENEVA (AP) — Russia has joined the European Union, India and China in demanding compensation from the United States for its tariffs on foreign steel and aluminum.<p>The World Trade Organization's web site posted Thursday a filing from Russia that, like other countries, argues that the tariffs that …

Russia

Egypt Gets Closer to Create One of Its Biggest Property Developers

Egypt’s Medinet Nasr Housing and Six of October Development & Investment Co. have reached an initial understanding on a tie-up that would create one …

Selling

Danaher Corporation beats by $0.05, beats on revenue

Danaher Corporation (NYSE:DHR): Q1 EPS of $0.99 beats by $0.05.<p>Revenue of $4.7B (+11.6% Y/Y) beats by $160M.<p>Press Release<p>Now read: <b>Danaher Agrees To</b> …

Revenue

Tenneco Acquires Federal-Mogul: A New Auto Parts Giant Rises

Excitement is a rare thing in the world of automotive parts. But last week’s announcement of Tenneco’s potential purchase of Federal-Mogul for USD 5.4 billion was surely a blockbuster moment of 2018.<p>The buyout does come as a bit of a surprise although, for Icahn Enterprises, it’s simply par for the …

Automotive Industry

Chinese e-commerce giant Alibaba sets plans for Thailand

BANGKOK (AP) — The Chinese e-commerce giant Alibaba has agreed to step up investments in Thailand.<p>The founder of the online shopping giant, Jack Ma, met with Thailand's prime minister, Prayuth Chan-ocha, on Thursday and signed an agreement to help set up a "smart digital hub" to facilitate trade …

Thailand

Malaysia Stocks Hit Record as Foreigners Buy Ahead of Elections

Stock market volatility, global trade tensions, geopolitical risks aren’t ending the fervor for the second hottest stock market in Southeast Asia.<p>A …

Stock Markets

P&G vitamin deal; Amazon's Prime number; Qualcomm's Chinese hurdle

<b>1. Vitamin deal:</b> Procter & Gamble (PG) announced Thursday it is buying the consumer health business of German pharmaceutical company Merck KGaA (MKGAF) for about €3.4 billion ($4.2 billion).<p>P&G said the deal will help it expand its vitamin and health supplements business, giving it broader …

Procter & Gamble

Willingness to fix euro's flaws is fading fast

FRANKFURT, Germany (AP) — When Angela Merkel was re-elected as Germany's leader in March, the way looked open for European nations to finally patch the remaining cracks in the euro — the structural flaws that threatened to break apart the shared currency in 2010-12.<p>Suddenly, those prospects for …

Europe