Live: Boehner steps down; Google vs. Amazon; Volkswagen's CEO search
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MONEY (MSM)
US House speaker John Boehner to resign next month
US House Speaker John Boehner, who has spent years pushing back against a rebellious flank long seeking his ouster, told a closed-door meeting Friday that he will resign next month, his office and lawmakers said. The 65-year-old’s departure after 24 years in Congress and four years in the speaker’s chair will spark an intense battle for control of the House as the United States gears up for a presidential election
Dow jumps 200 as Nike leaps 9%; financials lead
U.S. stocks traded higher, attempting to bounce from three days of selling, as investors digested Fed Chair Janet Yellen’s remarks on rates.
Shiller: Stocks and housing are overvalued– here's what to do about it
Long-term economic growth remains slow, despite a rebound in both equities and housing. This is a clear sign that the market is overheated, warns Robert Shiller.
Volkswagen rigged tests on 2.8 million cars in Germany, Berlin says
Volkswagen rigged emission tests on about 2.8 million diesel vehicles in Germany, the country’s transport minister said on Friday, nearly six times as many as it has admitted to falsifying in the United States. The board is widely expected to name Matthias Mueller, the head of its Porsche sports-car division, as chief executive to replace Martin Winterkorn, who quit on Wednesday, and at least four senior executives are expected to
Apple's iPhone sales will break all records this weekend: Foursquare
Data analyzed by social app Foursquare predicts Apple will sell between 13 million and 15 million units this weekend, breaking all previous records.
How far can some Fed clarity carry the market this time?
The market may gives a hint about which moment from the past we might be reliving.
Economy in U.S. Picked Up on Consumer Spending, Construction
The world’s largest economy expanded more than previously forecast in the second quarter, boosted by gains in consumer spending and construction that may help the U.S. withstand a global slowdown. Gross domestic product rose at a 3.9 percent annualized rate, compared with a prior estimate of 3.7 percent, Commerce Department figures showed Friday in Washington. The median forecast of 76 economists surveyed by Bloomberg called for a 3.7 percent gain.
House GOP may opt against shutdown over Planned Parenthood
House GOP leaders have summoned their divided conference for a make-or-break discussion on how to fight taxpayer funding of Planned Parenthood without having the battle lead to a government shutdown next …
New iPhones hit stores, record sales expected in first weekend
NEW YORK/SYDNEY (Reuters) – The iPhone 6s and 6s Plus hit stores around the world on Friday, at the start of what is expected to be a record weekend for sales of Apple Inc’s marquee product. Eager buyers – joined by at least one robot – flocked to Apple stores from Sydney to New York, itching to get their hands on the new models, which boast a 3D touch feature