Apple Inc’s Chief Executive Tim Cook took an unusual step of reassuring shareholders on Monday in comments to CNBC about the iPhone maker’s business in China ahead of a dramatic 13 percent drop and rebound in its stock that put it in positive territory. Chinese consumers are critical to fueling demand for iPhones, and a slump in the country’s stock market and Beijing’s recent devaluation of the yuan have shaken
SK Hynix Inc, the world’s No. 2 DRAM chip maker, on Tuesday said it plans to spend 31 trillion won ($25.94 billion) to build two new chip plants in South Korea, aiming to update its production technologies to boost competitiveness. The firm, which competes with rivals including Samsung Electronics Co Ltd, Micron Technology Inc and Toshiba Corp, said the plants would be completed by 2024 but did not comment on
By Joseph Menn SAN FRANCISCO (Reuters) – The security researcher who hacked into a moving Jeep earlier this year has resigned as an engineer at Twitter Inc after three years on the job, a person familiar with the matter said. Charlie Miller, a former National Security Agency hacker who is the one of the world’s best-known security experts, declined to comment on his departure or say what he would do
The Federal Reserve might not be too worried about the billionaires who saw their net worth take a ten-figure hit during Monday’s plunge in equity prices, but monetary policymakers will have to be concerned about how the broader tightening in financial conditions could hurt the U.S. economy’s growth prospects going forward.
U.S. stocks jumped, attempting a bounce after a severe selloff, as a recovery in oil prices and overnight easing in China helped investor sentiment.
U.S. consumer confidence rebounded in August to the strongest reading in seven months after having fallen sharply in July. The Conference Board said Tuesday that its index of consumer confidence increased …
With the immediate prospect of an ongoing crash set aside at least for the moment, an investor’s greatest risk is perhaps being hit by an errantly thrown cliché.
Americans stepped up their purchases of new homes in July, with sales surging in the Northeast. The Commerce Department says new-home sales rose 5.4 percent last month to a seasonally adjusted annual rate …
U.S. home prices rose solidly in June, another sign of health in the housing market. The Standard & Poor’s/Case-Shiller 20-city home price index rose 5 percent from a year earlier, a slight improvement …
U.S. home rents jumped in July as house prices showed signs of flagging. Real estate data firm Zillow said Tuesday that rents rose a seasonally adjusted 4.2 percent from a year ago. The higher rents suggest …
