Nasdaq falls 1.5%, Dow off 100 points as Disney extends plunge
U.S. stocks traded lower on Thursday as investors digested a slew of earnings releases, ahead of Friday’s key employment report.
Russia marks 1 year of sanctions by destroying Western food
Russia marked the one-year anniversary of its ban on Western agricultural products Thursday with an effort to destroy contraband food, a move that has raised controversy amid the nation’s economic downturn. …
IBM to buy Merge Healthcare in $1 billion deal
International Business Machines Corp said it would buy Merge Healthcare Inc , which provides medical images and clinical systems, in a $1 billion deal and combine it with its Watson Health analytics unit. …
Jobless claims edge up, but labor market still solid
The number of Americans filing new applications for unemployment benefits rose less than expected last week, suggesting labor market conditions are continuing to tighten. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 270,000 for the week ended Aug. 1, the Labor Department said on Thursday. It was the 22nd consecutive week that claims held below the 300,000 threshold, which is associated with a strengthening labor market.
Tesla says it sent update for security flaws found by hackers
Tesla confirmed elements of the story and said it already has issued a software patch to owners. Kevin Mahaffey, chief technology officer of cybersecurity firm Lookout, and Marc Rogers, principal security researcher at Cloudflare, said they decided to hack a Tesla car because the company has a reputation for understanding software that is better than that of most automakers, the FT said.
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Apple Music attracts more than 11 mln trial members since June 30
Apple Inc’s new music streaming service has attracted more than 11 million members during its free trial period, the company said Thursday. Apple Music rolled out a three-month free trial period on June 30. Nearly 2 million people opted for the free trial family plan, which will cost $14.99 a month for up to six family members, the company said.
Fannie Mae posts $4.6B profit in 2Q; paying $4.4B dividend
Mortgage giant Fannie Mae reported net income of $4.6 billion from April through June, up from $3.7 billion a year earlier. Rising interest rates enabled Fannie to post gains on the investments it uses …
Mondelez gains 5% after Ackman announces stake
Mondelez stock gains after news that Bill Ackman has taken a $5.5 billion stake in snack maker and is considering pushing for a takeover.
EU Commission: Third bailout deal with Greece possible before Aug. 20
Talks with Greece on a third bailout are moving ahead in a satisfactory way and reaching an agreement is possible before August 20, the European Commission said on Thursday. The Commission comments were in response to remarks by a German government official in the Bild daily, that reaching a deal by Aug 20, when Greece has to buy back 3.5 billion euros of its bonds from the European Central Bank,
