Business News 

These stocks could be the biggest winners if the US completes this phased trade deal with China

US President Donald Trump shows a letter from Chinese President Xi Jinping as he announces and initial deal with China while meeting the special Envoy and Vice Premier of the People’s Republic of China Liu He Special Envoy and Vice Premier of the People’s Republic of China Liu He at the Oval Office of the White House in Washington, DC on October 11, 2019. Nicholas Kamm | AFP | Getty Images The U.S. and China agreed to the first phase of a “substantial” trade deal that delays tariff hikes scheduled…

Read More
Business News 

U.S.-China Trade War Ceasefire Called–At Least for Now

The United States is suspending a tariff hike on $250 billion in Chinese imports that was set to take effect Tuesday, and China has agreed to buy $40 billion to $50 billion in U.S. farm products as the world’s two biggest economies reached a ceasefire in their 15-month trade war. The announcement follows negotiations this week in Washington, in which China was widely seen as willing to make peace as long as President Trump didn’t follow through with a planned escalation of tariffs on Chinese imports. This is the second…

Read More
Business News 

Boeing CEO loses chairman role to focus on 737 Max crisis

Boeing Chief Executive Dennis Muilenburg speaks during a press conference after the annual shareholders meeting at the Field Museum on April 29, 2019 in Chicago, Illinois. Boeing announced earnings fell 21 percent in the first quarter after multiple crashes of the company’s bestselling plane the 737 Max. (Photo by Jim Young-Pool/Getty Images) Jim Young | Getty Images News | Getty Images Boeing’s board removed CEO Dennis Muilenburg as chairman so he can focus on running the company after the 737 Max crisis, the company said Friday. Boeing is facing numerous…

Read More
Business News 

Could CRISPR Be Used as a Targeted Virus-Killer?—Brainstorm Health

Happy Friday, readers. New research from the Broad Institute of MIT & Harvard carries a tantalizing proposition: CRISPR gene-editing could be used to home in on, and destroy, deadly infectious viruses in human cells. Published in the journal Molecular Cell, the study finds that CRISPR-Cas13 (this is distinct from CRISPR-Cas9—a more precise enzyme that can be better targeted to snip out aberrant genetic code) could be used as a virus-fighting entity with potential implications for treating everything from flu to Zika. The system, called CARVER (or, for the nerds, Cas13-Assisted…

Read More
Business News 

Cramer’s week ahead: It is shaping up to be a good week for earnings

CNBC’s Jim Cramer said Friday that he wants to read the fine print before he turns positive about President Donald Trump’s claim that U.S. and China trade negotiators reached a “phase one” deal. Investors responded positively to the news. The three major U.S. stock averages all rose more than 1% by the session close. The major indexes finished the week higher, with the Dow Jones Industrial Average and S&P 500 breaking three-week losing streaks. China agreed to as much as $50 billion in agricultural buys and some intellectual property concessions,…

Read More
Business News 

Boeing’s Board of Directors Strips CEO Muilenburg of His Chairmanship

As the 737 MAX crisis grinds on, Boeing decisively signaled Friday how seriously it is taking the situation. The aerospace giant’s board of directors stripped Boeing CEO Dennis Muilenburg of his role as the company’s chairman, installing independent director David Calhoun in his place. Aerospace analysts for investment companies tell Fortune the move is a potentially positive move—or the first step in Muilenburg’s ouster from Boeing. The board said splitting the roles allows Muilenburg to focus on running the company, getting the 737 MAX back in the air, and sharpening Boeing’s…

Read More
Business News 

President Trump tweets that Acting Secretary of Homeland Security Kevin McAleenan is stepping down

Acting Homeland Security Secretary Kevin McAleenan testifies before the House Oversight and Reform Committee on “Trump Administration’s Child Separation Policy” on Capitol Hill in Washington, July 18, 2019. Joshua Roberts | Reuters President Donald Trump said in a tweet Friday that acting Homeland Security Secretary Kevin McAleenan is stepping down. Trump in his tweet congratulated McAleenan on a “job well done” and said he would be announcing a new acting secretary next week. He added that there were “many wonderful candidates.” “Kevin McAleenan has done an outstanding job as Acting…

Read More
Business News 

Wendy’s, McDonald’s, and Burger King Go Whole Hog on Breakfast, Pork Crisis and All

U.S. restaurants are diving head first into breakfast at a time when supplies of the meal’s centerpiece—pork—are at risk. They’re taking a risky bet that Americans’ love of sausage and bacon will bring a boost that outweighs the impact of meat inflation. Wendy’s has a $20 million plan for a national breakfast rollout next year, including a breakfast Baconator sandwich. McDonald’s also recently began ramping up breakfast ads, with the meal accounting for a quarter of its sales, around $10 billion, according to an approximation from BTIG LLC analyst Peter…

Read More
Business News 

Wall Street has doubts after partial trade deal: ‘I don’t think this gets us to Christmas’

President Donald Trump speaks after announcing and initial deal with China while meeting the special Envoy and Vice Premier of the People’s Republic of China Liu He at the Oval Office of the White House in Washington, DC on October 11, 2019. Nicholas Kamm | AFP | Getty Images After a partial trade deal, what’s next? The next move could be a ratcheting up of the attacks on Chinese listed companies in the United States. Today’s rally clearly indicates that the market is happy for the moment with just a…

Read More
Business News 

Facebook’s Libra Coalition Craters, as Visa, Mastercard, eBay, and Stripe Exit the Crypto Partnership

Facebook’s ambitious plan to create a digital money consortium called project Libra took another major hit on Friday as Visa, Mastercard, eBay, and Stripe dropped out. The departure of four of the biggest “founding members” comes on the heels of PayPal’s decision to bail out last week. The departures may pose an existential threat to Libra, which Facebook has touted as a federation of companies that would collectively manage a new cryptocurrency pegged to a basket of fiat currencies, including the U.S. dollar and the euro. As major companies pull…

Read More