Growing Number of Tech Giants Looking to Move Production Out of China
* Stories are summarized by an A.I.
* Stocks or companies mentioned: AAPL, XOM, BA, AMZN, GOOG, BABA, Fullgreen, INTC, EBAY, and WMT
Growing Number of Tech Giants Looking to Move Production Out of China
AAPL (Apple Inc.) | The Motley Fool
In an unexpected move, Apple is reportedly moving production of its new Mac Pro from the U.S. to China. HP is considering moving 20% to 30% of production out of China, according to the report, potentially to Thailand or Taiwan. Sources told the Nikkei that Nintendo is also looking at Vietnam and Microsoft is exploring Thailand and Indonesia for production. That included a $30.1 billion trade deficit with China. Economists do not consider a trade deficit to indicate a loss to the economy, and in fact it can be the result of a strong economy.
Read More
The Real Reason Why ExxonMobil Won’t Go Ahead With $53 Billion Iraqi Megaproject
XOM (Exxon Mobil Corporation) | OilPrice
It also hints at why Iraq was so in debt for so long to various international oil companies (IOCs). ExxonMobil was removed in 2012 when negotiations fell through – due to basic problems with the contract – and replaced by the state-run South Oil Company. The U.S. major then resumed talks with the Oil Ministry in 2015 in partnership with the China National Oil Corporation (CNPC). “This can be seen in the TechnipFMC and Unaoil cases but that is the tip of the iceberg,” he underlined. Such widespread corruption was also a key reason why Iraq found itself owing around US$27 billion to IOCs by the end of 2015.
Read More
Boeing to Pay $100m to Families and Communities Affected By 737 Max Crashes
BA (The Boeing Company) | Time
Boeing said Wednesday that it will provide an “initial investment” of $100 million over several years to help families and communities affected by two crashes of its 737 Max plane that killed 346 people. The Chicago-based company said some of the money will go toward living expenses and to cover hardship suffered by the families of passengers killed in the crashes. The company said it will work with local governments and nonprofits on programs and economic development to help affected communities. In April, Boeing reported a $1 billion charge against earnings because of higher production costs for the Max. The lawyers said Boeing didn’t provide enough details about how the money will be distributed and spent.
Read More
Appeals court rules Amazon can be held liable for third-party products
AMZN (Amazon.com Inc.) | Tech Crunch
In a blow to Amazon, a U.S. appeals court ruled that the mega-retailer can be held accountable for faulty third-party sales. The ruling arrived this week via the 3rd U.S. City Court of Appeals in Philadelphia, running counter to a past lower court ruling that had come out in Amazon’s favor. The ruling is in line with Pennsylvania law — liability for products often varies from state to state. Amazon has yet to comment on the case, but it seems likely the company will ultimately appeal the ruling. A lower court will rule on whether the leash that caused Oberdorf’s injury was, indeed, defective.
Read More
3-D printing recreates ancient sculpture destroyed by ISIS
GOOG (Alphabet Inc.) | Houston Chronicle
The sculpture is a replica of a colossal 3,000-year-old statue from the Temple of Ishtar in Nimrud, in what's now Iraq. The stone statue was one of many artifacts from the Mosul Museum destroyed by the Islamic State group after it overran the city in 2014. The replica Lion of Mosul, which can be viewed online , was modelled from crowd-sourced photos taken by Mosul Museum visitors in happier times and 3-D printed as part of Google's digital arts and culture project. "The destruction of culture is sort of an accepted sideline to war," Imperial War Museum curator Paris Agar said Wednesday. The second looks at how British museums evacuated their treasures from London to keep them safe during World War II — and what they left behind.
Read More
Alibaba Group IPO: Is it Coming to the Hong Kong Stock Exchange?
BABA (Alibaba Group Holding Limited) | The Motley Fool
In recent months, it's been speculated that the mainland-based internet giant Alibaba Group (NYSE:BABA) has been considering an initial public offering (IPO) on the Hong Kong Stock Exchange. Let's go over what we know, and don't know, about this potentially very auspicious market debut in Hong Kong. Rumors of capital raisingReports published in mid-June in various media assert that Alibaba has filed an official application for an IPO with the Hong Kong Stock Exchange (HKSE). We should also remember the kind of access mainland investors have to the Hong Kong market. Foolish takeawaySo in the end, the company's moves and informed speculation strongly suggest that a Hong Kong IPO for Alibaba is coming.
Read More
Update: Fullgreen Set to Close Latest Crowdcube Round With Nearly 700,000 in Funding
Fullgreen | Crowdfund Insider
Cauli Rice, under its brand name Fullgreen, is set to close its latest equity crowdfunding campaign on Crowdcube with nearly £700,000 in funding. The packs are ready to eat, full meal products that offer increased convenience and taste versus the basic riced cauliflower range. Riced&Co are rich, creamy, and 100% vegan cauli risottos. The packs are ready to eat, full meal products that offer increased convenience and taste versus the basic riced cauliflower range. Funds from the latest Crowdcube round will be used to continue the growth and development of the Fullgreen’s products.
Read More
Intel Co-Sponsors New Hyperledger Transact Project
INTC (Intel Corporation) | Cointelegraph
Global tech giant Intel has co-sponsored a new blockchain programming project by major blockchain tech firm Hyperledger, according to a Forbes report on July 3. Officially released on June 27, Hyperledger Transact is a new tool that aims to boost the compatibility of blockchain networks by providing a standard interface, or a shared software library for smart contracts execution. Hyperledger Transact involves a number of companies specializing in different industries, including global tech giant IBM, Intel, as well as tech service firm Bitwise IO and global food supplier Cargill. Intel is a member of the major blockchain standards consortium, the Enterprise Ethereum Alliance (EEA), which counts over 500 participants, including the United States’ largest bank JPMorgan Chase, blockchain incubator ConsenSys, Big Four auditor EY, as well as tech giants Microsoft and IBM, and blockchain consortium R3. On June 18, IBM introduced updates on its IBM Blockchain Platform, enabling it to run on multiple cloud networks including Microsoft’s Azure or Amazon Web Services.
Read More
Can eBay Sustain Its Momentum?
EBAY (eBay Inc.) | The Motley Fool
eBay (NASDAQ:EBAY) is poised to announce second-quarter 2019 results on Wednesday, July 17, after the market closes -- or exactly two weeks from today. And can eBay sustain this year's momentum leading into the second half? On eBay's expected headline numbersIn April eBay management told investors to expect second-quarter revenue of between $2.64 billion and $2.69 billion. On the former, eBay boasted that its first-party advertising product resulted in an average visibility boost of 36% for its sellers last quarter. eBay CEO Devin Wenig said during last quarter's call the plan is to begin a full rollout of the program starting in 2020, "building to a $2 billion revenue opportunity at scale."
Read More
Walmart to lose $1B on US e-commerce business this year: Report
WMT (Walmart Inc) | Yahoo Finance
The Arkansas-based retailer’s e-commerce business is set to record a $1 billion loss on revenue of between $21 billion and $22 billion this fiscal year, Vox reported, citing multiple sources familiar with the matter. At least three of Walmart’s recent digital brand acquisitions – Bonobos, ModCloth and Eloquii – remain unprofitable, the report added. The division’s profitability issues have reportedly drawn the ire of Walmart CEO Doug McMillon and other top executives at the company, who are said to be pressuring Marc Lore, the Jet.com founder and current Walmart e-commerce chief, to cut down on losses. According to the report, Walmart is likely to sell ModCloth later this year at a loss compared to its acquisition cost of roughly $50 million. Walmart declined to comment on the report.
Read More
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* Stocks or companies mentioned: AAPL, XOM, BA, AMZN, GOOG, BABA, Fullgreen, INTC, EBAY, and WMT
Growing Number of Tech Giants Looking to Move Production Out of China
AAPL (Apple Inc.) | The Motley Fool
In an unexpected move, Apple is reportedly moving production of its new Mac Pro from the U.S. to China. HP is considering moving 20% to 30% of production out of China, according to the report, potentially to Thailand or Taiwan. Sources told the Nikkei that Nintendo is also looking at Vietnam and Microsoft is exploring Thailand and Indonesia for production. That included a $30.1 billion trade deficit with China. Economists do not consider a trade deficit to indicate a loss to the economy, and in fact it can be the result of a strong economy.
Read More
The Real Reason Why ExxonMobil Won’t Go Ahead With $53 Billion Iraqi Megaproject
XOM (Exxon Mobil Corporation) | OilPrice
It also hints at why Iraq was so in debt for so long to various international oil companies (IOCs). ExxonMobil was removed in 2012 when negotiations fell through – due to basic problems with the contract – and replaced by the state-run South Oil Company. The U.S. major then resumed talks with the Oil Ministry in 2015 in partnership with the China National Oil Corporation (CNPC). “This can be seen in the TechnipFMC and Unaoil cases but that is the tip of the iceberg,” he underlined. Such widespread corruption was also a key reason why Iraq found itself owing around US$27 billion to IOCs by the end of 2015.
Read More
Boeing to Pay $100m to Families and Communities Affected By 737 Max Crashes
BA (The Boeing Company) | Time
Boeing said Wednesday that it will provide an “initial investment” of $100 million over several years to help families and communities affected by two crashes of its 737 Max plane that killed 346 people. The Chicago-based company said some of the money will go toward living expenses and to cover hardship suffered by the families of passengers killed in the crashes. The company said it will work with local governments and nonprofits on programs and economic development to help affected communities. In April, Boeing reported a $1 billion charge against earnings because of higher production costs for the Max. The lawyers said Boeing didn’t provide enough details about how the money will be distributed and spent.
Read More
Appeals court rules Amazon can be held liable for third-party products
AMZN (Amazon.com Inc.) | Tech Crunch
In a blow to Amazon, a U.S. appeals court ruled that the mega-retailer can be held accountable for faulty third-party sales. The ruling arrived this week via the 3rd U.S. City Court of Appeals in Philadelphia, running counter to a past lower court ruling that had come out in Amazon’s favor. The ruling is in line with Pennsylvania law — liability for products often varies from state to state. Amazon has yet to comment on the case, but it seems likely the company will ultimately appeal the ruling. A lower court will rule on whether the leash that caused Oberdorf’s injury was, indeed, defective.
Read More
3-D printing recreates ancient sculpture destroyed by ISIS
GOOG (Alphabet Inc.) | Houston Chronicle
The sculpture is a replica of a colossal 3,000-year-old statue from the Temple of Ishtar in Nimrud, in what's now Iraq. The stone statue was one of many artifacts from the Mosul Museum destroyed by the Islamic State group after it overran the city in 2014. The replica Lion of Mosul, which can be viewed online , was modelled from crowd-sourced photos taken by Mosul Museum visitors in happier times and 3-D printed as part of Google's digital arts and culture project. "The destruction of culture is sort of an accepted sideline to war," Imperial War Museum curator Paris Agar said Wednesday. The second looks at how British museums evacuated their treasures from London to keep them safe during World War II — and what they left behind.
Read More
Alibaba Group IPO: Is it Coming to the Hong Kong Stock Exchange?
BABA (Alibaba Group Holding Limited) | The Motley Fool
In recent months, it's been speculated that the mainland-based internet giant Alibaba Group (NYSE:BABA) has been considering an initial public offering (IPO) on the Hong Kong Stock Exchange. Let's go over what we know, and don't know, about this potentially very auspicious market debut in Hong Kong. Rumors of capital raisingReports published in mid-June in various media assert that Alibaba has filed an official application for an IPO with the Hong Kong Stock Exchange (HKSE). We should also remember the kind of access mainland investors have to the Hong Kong market. Foolish takeawaySo in the end, the company's moves and informed speculation strongly suggest that a Hong Kong IPO for Alibaba is coming.
Read More
Update: Fullgreen Set to Close Latest Crowdcube Round With Nearly 700,000 in Funding
Fullgreen | Crowdfund Insider
Cauli Rice, under its brand name Fullgreen, is set to close its latest equity crowdfunding campaign on Crowdcube with nearly £700,000 in funding. The packs are ready to eat, full meal products that offer increased convenience and taste versus the basic riced cauliflower range. Riced&Co are rich, creamy, and 100% vegan cauli risottos. The packs are ready to eat, full meal products that offer increased convenience and taste versus the basic riced cauliflower range. Funds from the latest Crowdcube round will be used to continue the growth and development of the Fullgreen’s products.
Read More
Intel Co-Sponsors New Hyperledger Transact Project
INTC (Intel Corporation) | Cointelegraph
Global tech giant Intel has co-sponsored a new blockchain programming project by major blockchain tech firm Hyperledger, according to a Forbes report on July 3. Officially released on June 27, Hyperledger Transact is a new tool that aims to boost the compatibility of blockchain networks by providing a standard interface, or a shared software library for smart contracts execution. Hyperledger Transact involves a number of companies specializing in different industries, including global tech giant IBM, Intel, as well as tech service firm Bitwise IO and global food supplier Cargill. Intel is a member of the major blockchain standards consortium, the Enterprise Ethereum Alliance (EEA), which counts over 500 participants, including the United States’ largest bank JPMorgan Chase, blockchain incubator ConsenSys, Big Four auditor EY, as well as tech giants Microsoft and IBM, and blockchain consortium R3. On June 18, IBM introduced updates on its IBM Blockchain Platform, enabling it to run on multiple cloud networks including Microsoft’s Azure or Amazon Web Services.
Read More
Can eBay Sustain Its Momentum?
EBAY (eBay Inc.) | The Motley Fool
eBay (NASDAQ:EBAY) is poised to announce second-quarter 2019 results on Wednesday, July 17, after the market closes -- or exactly two weeks from today. And can eBay sustain this year's momentum leading into the second half? On eBay's expected headline numbersIn April eBay management told investors to expect second-quarter revenue of between $2.64 billion and $2.69 billion. On the former, eBay boasted that its first-party advertising product resulted in an average visibility boost of 36% for its sellers last quarter. eBay CEO Devin Wenig said during last quarter's call the plan is to begin a full rollout of the program starting in 2020, "building to a $2 billion revenue opportunity at scale."
Read More
Walmart to lose $1B on US e-commerce business this year: Report
WMT (Walmart Inc) | Yahoo Finance
The Arkansas-based retailer’s e-commerce business is set to record a $1 billion loss on revenue of between $21 billion and $22 billion this fiscal year, Vox reported, citing multiple sources familiar with the matter. At least three of Walmart’s recent digital brand acquisitions – Bonobos, ModCloth and Eloquii – remain unprofitable, the report added. The division’s profitability issues have reportedly drawn the ire of Walmart CEO Doug McMillon and other top executives at the company, who are said to be pressuring Marc Lore, the Jet.com founder and current Walmart e-commerce chief, to cut down on losses. According to the report, Walmart is likely to sell ModCloth later this year at a loss compared to its acquisition cost of roughly $50 million. Walmart declined to comment on the report.
Read More
Download Folo, add stock symbols to your watchlist, and get notified.
When you look up U.S or China stock symbols and add them to Watchlist, Folo, an A.I. based news curator will keep you updated with stock news from 270 sources.
Download on the App Store
http://folo.moya.ai
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