• Baidu Posts Net Loss of $47 Million for First Quarter
Baidu Posts Net Loss of $47 Million for First Quarter

Baidu said it lost RMB327 million (RMB1 a share), or $49 million (and 15 cents a share), in the quarter, versus a profit of RMB6.7 billion a year ago. Baidu ended March with cash, cash equivalents, restricted cash and short-term investments of CNY 143.6 billion (approximately United States dollars 21.40 billion).

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  • China's Luckin raises $561 mln as it hopes to topple Starbucks
China's Luckin raises $561 mln as it hopes to topple Starbucks

Luckin sold 33 million shares at $US17 apiece on Thursday evening, raising $US571.2 million and giving it a valuation of more than $US3.9 billion. The pricing values loss-making Luckin, already backed by Singapore's sovereign wealth fund GIC and USA money manager BlackRock, at about US$4.2 billion.

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  • Trump Warns China Impasse to Worsen If Xi Retaliates on Tariffs
Trump Warns China Impasse to Worsen If Xi Retaliates on Tariffs

And China's retaliatory tariffs are inflicting pain on American farmers, a key part of Trump's political base. "So you absolutely can't put the hat on China of reversing positions and going back on one's promises", Geng said, adding China had shown goodwill in the talks and kept its promises.

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  • US believes Iran proxies may be behind tanker attacks
US believes Iran proxies may be behind tanker attacks

Washington did not publicly provide any evidence to back up claims of an increased threat from Tehran . The U.S. supports Saudi Arabia and its allies in the war against the Houthis , despite criticism that Saudi-led coalition airstrikes have killed civilians.

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  • Trump order clears way for barring Huawei from U.S. telecommunications networks
Trump order clears way for barring Huawei from U.S. telecommunications networks

The executive order doesn't outright ban US sales by the companies, but would give greater authority to the Commerce Department to review products and purchases by firms connected to adversarial countries, including China . The FCC in April 2018 voted to advance a proposal to bar the use of a $9 billion government fund to purchase equipment or s...

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  • US stocks close higher; US-China trade talks in focus
US stocks close higher; US-China trade talks in focus

The S&P 500 rose 13 points, or 0.5%, to 2,825. It recovered almost a third of Monday's loss and would now need to rise 3.9% to regain the record it set a couple weeks ago. Technology companies, which do a lot of business with China, led the way lower. The S&P 500 posted 12 new 52-week highs and 22 new lows; the Nasdaq Composite recorded 30 ...

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  • US Supreme Court allows suit against Apple to proceed
US Supreme Court allows suit against Apple to proceed

Apple argued that only app developers, and not users, should be able to bring such a lawsuit. Needless to say, this isn't a ruling against Apple, but while we're probably several years away from a decision in this case, it could eventually be the first step towards bigger changes in the App Store, including lower cuts on the App Store dev revenue...

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  • Jury Awards $2BN Damages In Roundup Weedkiller Cancer Claim
Jury Awards $2BN Damages In Roundup Weedkiller Cancer Claim

Monsanto was initially ordered to pay $289 million to the groundskeeper, before the damages were reduced to $78.5 million. The Alameda County Superior Court jury voted 11-1 to order Bayern AG to pay $1 billion to both Alva Pilliod, 76 and Alberta Pilliod, 74, as well as $18 million and $37 million respectively in additional damages for pain an...

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  • Mystery shrouds 'sabotage' of oil tankers in tense Gulf
Mystery shrouds 'sabotage' of oil tankers in tense Gulf

Saudi Arabia said Monday that two of its oil tankers had been sabotaged off the coast of the United Arab Emirates, in attacks it described as posing a threat to the security of global oil supplies. "Since early May, there is an increased possibility that Iran and/or its regional proxies could take action against USA and partner interests, incl...

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  • Amazon to employees: We'll pay you to quit and haul packages
Amazon to employees: We'll pay you to quit and haul packages

An Amazon statement said the latest incentive would also include three months of wages for employees who want to start their own delivery enterprise, and that they would be assured "consistent delivery volume" from the company. "It is a 24/7 management commitment", Peter Schlactus, co-founder of the Association for Delivery Drivers , told Kr...

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  • Uber Moves Backward In Its IPO
Uber Moves Backward In Its IPO

While there will be plenty of investors willing to accept short-term losses for long-term gain, Uber and Lyft will have much more competition in the autonomous taxi market than it now has in the ride-share market, including companies like Tesla and Google.

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  • Hackers steal almost £31 million in Bitcoin from online exchange
Hackers steal almost £31 million in Bitcoin from online exchange

Many people are drawn to bitcoin because they can make transactions anonymously. While Binance is one of the largest crypto-currency exchanges, the heist is not the largest the Bitcoin world has seen . One bitcoin trades at almost $6,000. Bitcoin ( BTC ) that had hit another new landmark just yesterday astonishes us with great price band...

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  • Newt Gingrich: Trump Tax Cuts 'Vindicated' by NY Times Report
Newt Gingrich: Trump Tax Cuts 'Vindicated' by NY Times Report

On Monday, Treasury Secretary Steven Mnuchin formally denied a request from the House Ways and Means Committee for Trump's last six years of tax returns, a period not covered by the documents reported by The Times on Tuesday. During his business career, President Donald Trump pretended to be a corporate raider, using debt to buy shares ...

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  • China backtracked on nearly all aspects of USA trade deal
China backtracked on nearly all aspects of USA trade deal

The White House received a diplomatic cable from Beijing late on Friday night containing systematic edits to the pair's almost 150-page draft trade agreement, threatening to undo months of negotiations between the world's two largest economies.

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  • Crude oil prices rise in April
Crude oil prices rise in April

The country is the world's biggest oil importer. Oil prices drifted lower on Thursday as fears that the U.S. The decision to end waivers "is meant to bring Iran's oil exports to zero", Washington said, warning countries that continue to buy Iranian crude after the May 2 deadline will risk facing USA sanctions.

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  • Tax figures show Trump's businesses had heavy losses throughout the 1980s
Tax figures show Trump's businesses had heavy losses throughout the 1980s

Mr Trump broke with more than 40 years of tradition by refusing to release his tax returns before the 2016 election. Until now, Trump's early career in real estate was believed to have reached a peak in the late 1980s, when Trump wrote the " The Art of the Deal " - and then collapsed into loss and debt in 1990 and 1991.

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  • Berkshire's Buffett calls himself a 'card-carrying capitalist'
Berkshire's Buffett calls himself a 'card-carrying capitalist'

The Berkshire Hathaway Inc Chairman and Chief Executive Officer said he would "love to put more money in the UK" despite uncertainty over whether and how Britain will leave the European Union. Thousands of Berkshire Hathaway shareholders return to Omaha every year to learn from Warren Buffett and celebrate the company he built through acquisi...

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  • Facebook open to heightened oversight of its privacy practices
Facebook open to heightened oversight of its privacy practices

The FTC has been investigating revelations that Facebook inappropriately shared information belonging to 87 million users with the now-defunct British political consulting firm Cambridge Analytica. Facebook and the FTC each declined to comment for this story. In case the application to Federal Court is powerful, it could lead to modest penalti...

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  • Activision confirms first Call of Duty esports league franchises
Activision confirms first Call of Duty esports league franchises

As part of the company's first quarter earnings results yesterday, Activision announced that the city of Atlanta , Dallas , New York , Paris , and Toronto will all have teams compete in the new global league. Call of Duty World League teams are coming to a handful of cities, including NY and Paris . While Activision is mysteriousl...

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  • Microsoft rolls out new cloud services for AI and blockchain
Microsoft rolls out new cloud services for AI and blockchain

The recently announced Anomaly Detector is also in the Decision category of Azure Cognitive Services . These are the services that are most similar to human cognition: image recognition, speech-to-text, translation, and so on. The ledger is just the foundation for new applications. Microsoft has unveiled a new release of Azure for AI, mixe...

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  • Quick reaction: Bank of England eyes interest rate hikes as outlook brightens
Quick reaction: Bank of England eyes interest rate hikes as outlook brightens

But at today's monetary policy press conference, governor Mark Carney said uncertainty was creating divergence in the economy. "If a Brexit resolution is some form of arrangement with some smooth resolution to it, it will require rate increases, and more frequent rate increases than the market now expects".

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  • Berkshire Hathaway shareholders arrive in Omaha
Berkshire Hathaway shareholders arrive in Omaha

Still, Berkshire Hathaway ended a year ago with its Apple investment valued more than the cost of buying the shares. The forum will also feature panel discussions on Warren Buffett's investment strategies. Then in 2016, Berkshire Hathaway jumped into Apple and has built its stake in the iPhone maker into a holding valued at more than US$50 ...

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  • US Fed leaves rates unchanged, downplays inflation concerns
US Fed leaves rates unchanged, downplays inflation concerns

The change isn't likely to be economically meaningful and instead reflects a technical effort to improve the way the Fed's policy decisions are implemented in overnight money markets. The chief concern flagged in the policy statement was the now "muted" level of inflation, which continues to fall short of the Fed's 2 percent target.

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  • Apple results beat sets eyes back on $1-trillion
Apple results beat sets eyes back on $1-trillion

Apple's stock gained almost 5% to $210.50 in after-hours trading. "Services are not a distraction, they are a natural extension of the integrated hardware/software ecosystem Apple has built and are driving real enterprise value". Apple on Tuesday said it has 390 million total subscribers to both its own and third-party services on its devices. ...

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  • Facebook New Design & Features | Privacy Concerns
Facebook New Design & Features | Privacy Concerns

The move is said to allow Facebook to focus on privacy, but also provide the firm with e-commerce abilities to give it new revenue sources. Facebook's settlement with the FTC may come with more than just a $5 billion fine. " WhatsApp is already testing this with a million people in India and the feedback so far has been great". The new f...

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  • Land Rover to build all-new Defender in Slovakia
Land Rover to build all-new Defender in Slovakia

Putting the new Defender on the road is a bright spot for the British carmaker as it struggles with fallout from the UK's decision to leave the European Union and slumping sales in China. The company also confirmed that while the new Defender (set to run on an all-aluminium platform, thus ditching the original's ladder-frame chassis) has been "de...

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  • Oil pares gains as fears ease on Venezuelan exports
Oil pares gains as fears ease on Venezuelan exports

In comments on April 24, Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei said the US' attempts to block the export of Iranian oil will get nowhere as Tehran will be exporting any amount of crude it needs and wants. Many observers feared the rallying cry could lead to escalating violence and further disruptions to crude supply, thoug...

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  • Alphabet Quarterly Results Underwhelm Investors
Alphabet Quarterly Results Underwhelm Investors

Alphabet delivered slightly below target with $29.45 billion in revenue excluding TAC. Wall Street had been expecting Alphabet to report revenue of $37.3 billion. Cost-per-click on Google properties: -19%. Ruth Porat, CFO for Google, said to investors that sales of the Pixel 3 and Pixel 3 XL during Q1 2019 were significantly less than Q1...

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  • More than 1,200 SAS flights cancelled, affecting 110,000 passengers
More than 1,200 SAS flights cancelled, affecting 110,000 passengers

It plans to cancel another 1,213 flights on Monday and Tuesday, hitting some 110,000 passengers. So far, over 170,000 passengers have been affected by the strike. The pilots' association say work schedules, not wages, are their main gripe as most SAS pilots have to work at variable times and days and sometimes have to work several weekends in a r...

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  • Apple recall adapters amid safety concerns
Apple recall adapters amid safety concerns

So far Apple claims to know about six incidents worldwide and so it is recalling the adapters. They have a slot on the back of the plug where the adapter would go. To take part in this Voluntary Recall and Exchange Program, customers can visit this Apple support page for details on how to exchange their affected adapters for new ones.

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  • Ford Under US Criminal Investigation of Emissions Testing
Ford Under US Criminal Investigation of Emissions Testing

Ford said in a regulatory filing that it is cooperating with all government agencies. "Ford is fully cooperating with the government, and we'll keep them posted on what we're finding through our investigation and technical review". Since 2015, USA and California regulators have cracked down on automakers who cheat on emissions testing after Vol...

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  • 155 flights to be delayed till 8.30 pm today
155 flights to be delayed till 8.30 pm today

According to ANI reports, Air India flights are affected as airline's SITA server is down all over India & overseas since 3:30 am. "Affected passengers will be provided hotel accommodation, cancellation waivers and will be re-booked on other Air India flights or other carriers", Lohani told reporters in New Delhi .

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  • Amazon plans to offer one-day shipping as the new norm
Amazon plans to offer one-day shipping as the new norm

Olsavsky didn't offer a timeline for the project's roll out, which will begin in the USA, saying "we expect to make steady progress quickly and through the year". In 2016 and 2017, Amazon grew its warehouse square footage by about 30 percent per year. More than half of the company's merchandise is sold by third-party sellers.

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  • Kohl's will accept returns for Amazon customers starting in July
Kohl's will accept returns for Amazon customers starting in July

The two companies have been working together since 2017, with Kohl's selling some Amazon products in more than 200 of its stores, CNBC reported. The surprising partnership gets customers to browse their nearby Kohl's store while conveniently offering one-stop service to refund items without the need to ship them back to Amazon .

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  • Apple reportedly spending $30 million a month on Amazon Web Services
Apple reportedly spending $30 million a month on Amazon Web Services

The big picture: Apple continues to increase its reliance on Amazon Web Services ( AWS ), a trend that appears likely to continue for the foreseeable future.at least, until Apple can get its own infrastructure in place. That's over 10 percent more than it spent in the year-ago quarter. Visit Business Insider's homepage for more stories . Th...

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