Rumors of the economic expansion’s death appear to have been greatly exaggerated. Gross domestic product, the broadest measure of goods and services produced in the economy, rose at a 3.2 percent annual rate in the first three months of the year, the Commerce Department said Friday. That is significantly better than most economists expected, and…
Amazon.com Inc. will spend $800 million in the current quarter to reduce delivery times for top customers to one day from two, trying to revive its main e-commerce franchise and ward off greater competition. The announcement came after the online retailer Thursday reported first-quarter profit that exceeded analysts’ estimates, demonstrating the company’s focus on cloud-computing,…
Uber is expected to set a price range of $44 to $50 per share in a supersize initial public offering (IPO) that could fill the money-losing ride-hailing company's coffers with as much as $10 billion in capital, Bloomberg reported on Thursday. The offering could give Uber a market value of as much as $90 billion,…
ENTERING TO Bruce Springsteen’s “We Take Care of Our Own”, as his friend Barack Obama used to, Joe Biden performed a dress rehearsal for his long-awaited entry to the Democratic primary in Washington, DC, earlier this month. His audience, burly delegates of the International Brotherhood of Electrical Workers, were the sort of working-class voters the…
[Biden on the issues: where he stands and how he’s changed.] One liberal advocacy group, Justice Democrats, announced on Thursday morning that it would oppose Mr. Biden’s candidacy. “The old guard of the Democratic Party failed to stop Trump, and they can’t be counted on to lead the fight against his divide-and-conquer politics today,” said…
This article first appeared in Data Sheet, Fortune’s daily newsletter on the top tech news. To get it delivered daily to your in-box, sign up here. The up-to-$5-billion fine Facebook may have to pay the Federal Trade Commission is what journalists call a man-bites-dog story. It is remarkable, newsworthy, and otherwise unusual that the online…
STR/AFP/Getty Images Tesla shares were volatile in after-hours trading on Wednesday after the electric-car maker reported first-quarter results that fell short of analysts' expectations. The company also said it expected to return to profitability in the third quarter and reduce its losses in the second quarter. Shares have fallen 21% this year amid concerns around…
AS MILITARY PAGEANTS go, multinational parades of warships deliver quite a complex message. Over a dozen countries—ranging from friends to overt rivals—sent naval vessels to the eastern Chinese city of Qingdao on April 23rd. There they steamed past a destroyer carrying China’s commander-in-chief, President Xi Jinping, in honour of the 70th anniversary of the founding…
C.E.I.E.C. and China’s Ministry of Foreign Affairs did not respond to requests for comment. In a statement, Huawei said: “Huawei provides technology to support smart city and safe city programs across the world. In each case, Huawei does not get involved in setting public policy in terms of how that technology is used.” In Ecuador,…
The stock market is on a roll. The S&P 500 reached a record high at the close on Tuesday for the first time since September, while the Nasdaq Composite also notched a closing high for the first time since August. The rally is being powered by a better-than-expected earnings for the first quarter. The solid…
