Deere warns of weaker earnings because of the trade war

The US trade war with China continues to hurt the American heartland. Tractor maker Deere, based in Moline, Illinois, reported earnings that missed forecasts Friday and lowered its outlook. Although the company reported a 5% jump in overall sales thanks to healthy demand for its construction and forestry equipment, Deere cited “persistent uncertainty in agricultural…

Baidu slumps; Pound falls; Amazon backs Deliveroo

1. Baidu slumps: Baidu just posted its first loss in 15 years as China’s slowdown hit its online advertising business. Disappointing earnings from the first three months of 2019 sent shares of the US-listed Chinese tech company tumbling more than 10% in premarket trading Thursday. The company pointed to a “challenging environment” for online ad…

Amazon invests in UK restaurant delivery service Deliveroo

Amazon just made another big move into food, picking up a stake in one of the United Kingdom’s top restaurant delivery services. Deliveroo announced Friday that it had raised $575 million in an investment round which adds the US tech giant to its list of investors. “Amazon has been an inspiration to me personally and…

How does Twitter chatter warp our thinking about what’s popular and important?

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Only scratching the surface Donie O’Sullivan emails from SF: Cambridge Analytica… Russian trolls… We’re only just scratching the surface of how we are being manipulated online. On Thursday, Facebook revealed that it has shut down…

Ex-Goldman Sachs CEO takes jab at NYC mayor over Twitter

Lloyd Blankfein may not be the most active Twitter user, but when he tweets, he sends a message. His first tweet in June 2017 criticized President Trump’s decision to back out of the Paris climate pact. His second tweet was a strong call for American leadership. “On the bright side, if DeB gets elected prez,…

Quickly catch up on today’s business news

Here’s what you might have missed Thursday on CNN Business: Banned in the USA: This morning, the US banned Huawei from selling telecom gear to the US. That means resolving the ongoing trade war between China and the US just got harder. Much harder. Warren Buffett’s big reveal: We knew that the legendary investor bought…

Broadcasters party like it’s 1999 at upfronts, while turning to streaming future

If it seems like America’s political system is experiencing a slow-motion nervous breakdown, you wouldn’t notice it from the crop of new TV series rolling out to premiere on the major networks in the fall. Although the TV world is dramatically changing, the theme for the content unveiled at this week’s upfront presentations appears to…

Blacklisting Huawei takes the US-China trade war to a dangerous new level

Resolving the trade war between the United States and China just got harder. Much harder. Negotiations between Washington and Beijing were already on rocky ground following new rounds of tit-for-tat tariffs. Then, on Wednesday, the United States dramatically escalated its fight against Huawei, the world’s largest telecoms equipment maker and one of China’s national champions.…

Discount chain Fred’s is closing 104 more stores

Discount chain Fred’s is closing 104 more stores by the end of June. The Memphis-based retailer said Thursday the closures are in addition to the 159 stores it said in April it was closing. Between the two waves of closures, Fred’s is reducing its store count by nearly half. “These additional store closures are a…