Business & Economy
Associated Press/Photo by Richard Drew (file)

Facebook shares lose $119 billion in value

by Les Sillars
Posted 7/27/18, 10:55 am

After Facebook founder Mark Zuckerberg’s admission that the company’s second-quarter growth was slower than expected, its shares plummeted 19 percent on Thursday. That vaporized $119 billion of value in one of the biggest single-day losses in stock market history. The decline roughly equals the value of McDonald’s or Nike. Zuckerberg’s shares alone lost about $16 billion.

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Associated Press/Photo by Mark Schiefelbein

Qualcomm deal victim of U.S.-China trade tensions

by Les Sillars
Posted 7/26/18, 12:07 pm

San Diego–based Qualcomm, the world’s biggest smartphone chipmaker, on Wednesday dropped its $44 billion bid to buy Dutch chipmaker NXP Semiconductors after Chinese authorities declined to approve the deal. China, the world’s largest market for chips and smartphones, was the last of nine markets needed to approve the merger. The deal is considered a high-profile victim of the rising trade tensions between the United States and China.

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Associated Press/Photo by Andrew Harnik (file)

Markets slide, then recover after Trump’s latest tariff salvo

by Les Sillars
Posted 7/20/18, 11:55 am

U.S. markets dropped early Friday after President Donald Trump indicated he is prepared to impose tariffs on every product imported from China but rose after news of strong quarterly results came out, with the S&P 500, the Dow Jones Industrial Average, and the Nasdaq composite all rising.

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