• Stocks drop after China cancels Montana farm trip
    Reuters Videos

    Stocks drop after China cancels Montana farm trip

    A slide in markets Friday, after a low-level Chinese delegation abandoned plans to visit the Montana farmland. That was enough to spark fear among investors that trade talks between the U.S. and China aren't going well, despite reassurances from President Trump, who said negotiations were ongoing. The Dow slid 159 points, while the S&P 500 and Nasdaq moved lower. It was a busy day for Facebook. CEO Mark Zuckerberg wrapped up his three-day trip to Washington, but there were few indications he won over anyone on Capitol Hill. Lawmakers are mulling over the idea of tightening the regulatory screws. Mercadien Asset Management President Ken Kamen. SOUNDBITE (ENGLISH): MERCADIEN ASSET MANAGEMENT PRESIDENT KEN KAMEN, SAYING: "Zuckerberg is on capitol hill to almost beg for the industry's benefit to start getting some regulations so they can get guardrails to know what they can and cannot do. Because now there are so many things that social media is changing in our society, in the world, in our economics, how we live or lives, and you can throw a dart and hit anything that they are doing wrong. So I think that the industry in general is looking to get some guidelines." Facebook is grappling with federal and state investigations over numerous issues ranging from anti-competitve behavior to privacy concerns. On that issue, Facebook announced it has suspended tens of thousand of apps as a result of the probe it's been conducting since the Cambridge Analytica scandal revealed it handed over users' data without permission. Walmart has decided to stop selling e-cigarettes and vaping products at its stores, according to an internal email seen by Reuters. Vaping products have come under scrutiny after reports of vaping-related illnesses and some deaths.

  • iPhone 11 Demand Will Surprise the Street, Analyst Ives Says
    Bloomberg

    iPhone 11 Demand Will Surprise the Street, Analyst Ives Says

    Sep.20 -- Dan Ives, Wedbush Securities analyst, and Bloomberg Businessweek's Max Chafkin discuss consumer enthusiasm over Apple Inc.'s iPhone 11 hitting stores. They speak with Bloomberg's Taylor Riggs on "Bloomberg Technology."

  • Why Costco won't be handing out $10 billion to investors as many have speculated
    Yahoo Finance

    Why Costco won't be handing out $10 billion to investors as many have speculated

    No, the special dividend probably isn't coming to Costco shareholders. So chill.

  • Are Insiders Buying AbbVie Inc. (NYSE:ABBV) Stock?
    Simply Wall St.

    Are Insiders Buying AbbVie Inc. (NYSE:ABBV) Stock?

    We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is...

  • What Kind Of Investor Owns Most Of FedEx Corporation (NYSE:FDX)?
    Simply Wall St.

    What Kind Of Investor Owns Most Of FedEx Corporation (NYSE:FDX)?

    A look at the shareholders of FedEx Corporation (NYSE:FDX) can tell us which group is most powerful. Insiders often...

  • Kennedy Grandson Takes on Democrat Markey in Massachusetts Race
    Bloomberg

    Kennedy Grandson Takes on Democrat Markey in Massachusetts Race

    (Bloomberg) -- Democratic Representative Joe Kennedy III, a member of one of the most storied political families in U.S. history, on Saturday announced a campaign to unseat Senator Edward Markey in Massachusetts.“Big news: I’m running for US Senate,” Kennedy posted on his Facebook site. “This isn’t a time for waiting, for sitting on the sidelines, or for playing by rules that don’t work anymore. This is the fight of our lives, the fight of my generation — and I’m all in.”The decision sets up a clash between the grandson of Robert F. Kennedy and an incumbent who has spent more than 40 years in Congress. It would pit two of the party’s leading liberal voices in a stark generational fight; Kennedy, 38, was born nearly four years after Markey, 73, was first elected to Congress.To contact the reporter on this story: Laura Litvan in Washington at llitvan@bloomberg.netTo contact the editor responsible for this story: James Ludden at jludden@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Bolsonaro Wants to Defuse Amazon Fire Controversy With UN Speech
    Bloomberg

    Bolsonaro Wants to Defuse Amazon Fire Controversy With UN Speech

    (Bloomberg) -- Brazil’s President Jair Bolsonaro heads to New York on Monday in an attempt to defuse the international outcry over the fires raging through the Amazon, while simultaneously asserting the country’s right to develop the rainforest as it sees fit.Until recently, few countries enjoyed such widespread affection as Brazil did, with its tradition of multilateral and “soft power” diplomacy, its unrivaled footballing prowess and vast natural beauty. ButBolsonaro will address the United Nations General Assembly on Tuesday amid global indignation over his government’s handling of the deforestation in the Amazon.Brazil’s government believes the international criticism is unfair, but its actions show that it’s worried, including about the potential economic consequences. Fund managers with more than $16 trillion in assets have demanded action on deforestation, while European lawmakers are lining up to attack the trade deal between the European Union and the South American trade bloc that Brazil leads, Mercosur. Austria’s parliament rejected the agreement on Wednesday.In response, the Bolsonaro administration launched a public relations campaign asserting Brazil’s sovereignty over the Amazon and commitment to protecting and sustainably developing the rainforest. Now the president is taking that message to the UN.Read more: Bolsonaro’s Words Are the Sparks as Brazil’s Farmers Burn Amazonia“The United Nations General Assembly could be a great opportunity for Brazil to present and clarify its foreign policy,” said Sergio Amaral, Brazil’s ambassador to Washington D.C. until earlier this year. It’s also a chance to demonstrate its “commitment to sensitive issues for the international community, like the environment.”The question remains of how Bolsonaro can both calm fears over deforestation while asserting Brazil’s right to develop the Amazon. There’s also the added tension of his likely interaction with French President Emmanuel Macron -- whose wife the Brazilian leader insulted.“I am preparing a fairly objective speech,” the president said on his weekly Facebook live broadcast on Thursday night. “No one is going to fight with anyone, you can rest assured.”In the same breath, however, he said that he’d receive a beating in the press, no matter what he said, and that some countries were more interested in buying up the Amazon than saving it.Government ReactionFor the government the international outcry is vastly disproportionate to the amount of environmental damage.“This has been orchestrated by Brazilian groups that are systematically against the government,” Foreign Minister Ernesto Araujo said in an interview on Sept 3. “They want to use any tools at their disposal to attack the government even if this harms the country.”Environment Minister Ricardo Salles argues that the Bolsonaro administration’s development policies highlight how much previous Brazilian governments failed the 20 million people who live in the Amazon region.“This is the first government that engages in a serious discussion about how to develop the Amazon,” he said. “The worst human development indicators in Brazil are in the Amazon.”Araujo, as well as Institutional Security Minister General Augusto Heleno and Eduardo Bolsonaro, the president’s son and nominee to be Brazil’s next ambassador to Washington D.C., are helping the president to draft his speech.While he may seek to minimize reports of environmental destruction, an emollient address is unlikely, particularly given that Bolsonaro retains the support of the U.S. government in his approach to the Amazon. Given the president’s outspoken nature -- and love of social media -- even a softer tone would probably not last long.“Brazil used to communicate this idea of great sociability,” Andreza dos Santos Souza, the director of the Brazilian Studies Program at Oxford University, said. “These intolerant speeches are changing this perception.”Negative ImpactThe outrage over the Amazon fires clearly has the potential to harm Brazil. Ahead of the G-7 Macron threatened to scrap the EU-Mercosur trade deal over what he described as Bolsonaro’s “lies” over his commitment to climate change.The U.S. clothing company VF Corporation, which owns Timberland, Kipling Bags and The North Face, has suspended Brazilian leather purchases, and Norway’s two biggest investors have warned global companies against contributing to environmental damage. Brazilian embassies have also been targeted by protesters.Fitch Solutions Macro Research, formerly BMI Research, issued two reports warning of “increased scrutiny” and “economic risks” after the fires. “We believe that international concern over deforestation in the Brazilian Amazon basin will create headwinds to export demand and investment inflows,” Fitch wrote.Read more: Amazon Fires Another Warning for Brazil Stocks, JPMorgan SaysFor Amaral, Brazil has rapidly lost its hard-won reputation as a leader on environmental issues. Aside from the blow back from certain countries or corporations, individual consumers may start to reject Brazilian products. “This change is terrible for the country, terrible for the image of the country and for the perception of consumers,” he said.Brazil has fallen four places this year in the global ranking of the Country Brand Index, a measure developed by the Sao Paulo-based global branding consultancy FutureBrand, and now ranks 47th out of 75. The survey was completed in July, before the fires in the Amazon, but took into account the first six months of Bolsonaro’s government.“The Amazon is a very sensitive topic, with huge repercussions, and it comes on top of a number of negative issues associated with Brazil in the past few years,” Daniel Alencar, partner-director of FutureBrand, said. But, he added, a country’s brand is constantly in flux. “No single event is going to destroy the image of Brazil.”\--With assistance from Samy Adghirni.To contact the reporters on this story: Simone Iglesias in Brasília at spiglesias@bloomberg.net;Bruce Douglas in Brasilia Newsroom at bdouglas24@bloomberg.netTo contact the editors responsible for this story: Juan Pablo Spinetto at jspinetto@bloomberg.net, Matthew BristowFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times

    What do Versace, J Lo and Google have in common?

    Donatella Versace helped build the internet, and now she might just “break” it. to walk the runway in an updated version of the jungle print dress the star wore to the Grammys in 2000. The story behind the original Versace dress is that millions of people went online after the event to search for images of the singer wearing it, making it the most popular search query Google had seen at the time.

  • Where Could T-Mobile Stock Go from Here?
    Market Realist

    Where Could T-Mobile Stock Go from Here?

    T-Mobile (TMUS) stock rose about 1.1% on Thursday and closed the trading day at $81.00. Year-to-date, T-Mobile stock has gained 27.3%.

  • ETFs in Focus as Netflix Bags Global Rights for Seinfeld
    Zacks

    ETFs in Focus as Netflix Bags Global Rights for Seinfeld

    Netflix boosts its content portfolio with the new show. We highlight the ETFs that can gain from this move.