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Facebook Profit Jumps 79%, Revenue Up

Facebook Profit Jumps 79%, Revenue Up

Facebook said third-quarter profit jumped 79% on its continued dominance in online advertising, as the social media giant’s aggressive pursuit of growth drew scrutiny Wednesday from lawmakers investigating alleged Russian propagandists’ activity on Facebook.

Published 7 months ago

Tesla Posts Loss, Boosting Pressure to Speed Output of Model 3

Tesla Posts Loss, Boosting Pressure to Speed Output of Model 3

Tesla Inc. reported a third-quarter loss greater than analysts expected, compounding the pressure on Chief Executive Elon Musk to speed up production of the long-awaited Model 3 sedan.

Published 7 months ago

Trump to Tap Fed’s Jerome Powell for Fed Chairman

Trump to Tap Fed’s Jerome Powell for Fed Chairman

The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank, according to a person familiar with the matter.

Published 7 months ago

New Facebook Data Shows Russians Targeted Users by Race, Religion, Politics

New Facebook Data Shows Russians Targeted Users by Race, Religion, Politics

Russian operatives targeted users on Facebook by race, political preference, religion and interests such as gun ownership, according to troves of data released by lawmakers as part of a probe into Russian manipulation on social media around the U.S. election

Published 7 months ago

Fed Leaves Rates Unchanged, Cites ‘Solid Rate’ of Economic Growth

Fed Leaves Rates Unchanged, Cites ‘Solid Rate’ of Economic Growth

The Federal Reserve left short-term interest rates unchanged Wednesday, but signaled it would consider lifting them before year’s end amid signs the economy is gaining momentum.

Published 7 months ago

Lawmakers Warn Tech Executives More Regulation May Be Coming for Social Media

Lawmakers Warn Tech Executives More Regulation May Be Coming for Social Media

Lawmakers warned officials from Facebook, Google and Twitter that they are considering stricter regulations on social media platforms after the tech firms failed to prevent Russian influence during the 2016 election and beyond.

Published 7 months ago

GOP Goes With the Global Flow: Tax People, Not Companies

GOP Goes With the Global Flow: Tax People, Not Companies

For decades, Republican tax reform has meant cutting the rate on America’s highest earners. No longer. The GOP tax plan is a tacit admission of something the rest of the world has already concluded: It’s better to tax people than capital.

Published 7 months ago

How the iPhone X Could Steal Christmas

How the iPhone X Could Steal Christmas

Holiday sales at traditional retailers could fall for the first time since the 2008 recession, according to Morgan Stanley. Blame the new iPhone.

Published 7 months ago

How China Swallowed the WTO

How China Swallowed the WTO

The U.S. helped create the World Trade Organization to smooth global commerce and integrate a rising China. Instead, it’s become the battleground for intense national rivalries, none more tense than Beijing’s role in the world economy.

Published 7 months ago

GE Shows How ‘Black Box’ Assets Boost Profits

GE Shows How ‘Black Box’ Assets Boost Profits

GE lifted the veil on accounting that analysts have said was too opaque, spotlighting how changes in one group of its assets help to lift profits.

Published 7 months ago

What You Need to Know for Winter Holiday Travel

What You Need to Know for Winter Holiday Travel

Three major hurricanes have changed tourist behavior, but many are still flocking to unscathed Caribbean islands for Thanksgiving and Christmas.

Published 7 months ago

GM, Fiat Chrysler Report Sales Declines in the U.S., While Ford Posts Increase

GM, Fiat Chrysler Report Sales Declines in the U.S., While Ford Posts Increase

General Motors and Fiat Chrysler reported sales declines in the U.S. for October, while Ford’s U.S. sales increased 6.4%.

Published 7 months ago

Two Fatal Navy Ship Collisions Were Avoidable, Reports Conclude

Two Fatal Navy Ship Collisions Were Avoidable, Reports Conclude

Two U.S. Navy collisions that killed a total of 17 sailors this year were avoidable, according to a pair of reports on the accidents that cited failures in a number of areas.

Published 7 months ago

Police Seek Clues in New York Terror Attack

Police Seek Clues in New York Terror Attack

Police searched the New Jersey home of the suspect who police say is responsible for Tuesday’s deadly truck attack, a 29-year-old who New York Gov. Andrew Cuomo said was “associated” with the Islamic State terror group.

Published 7 months ago

Health Analysts Expect Lower ACA Enrollments as Shorter Sign-Up Period Opens

Health Analysts Expect Lower ACA Enrollments as Shorter Sign-Up Period Opens

Consumers will begin signing up Wednesday to take part in the Affordable Care Act next year, kicking off a crucial six-week stretch that could test the law’s durability amid Republican leaders’ continuing desire to see it repealed.

Published 7 months ago