Today's Top Story
U.S. judge says Qualcomm violated antitrust law; appeal planned, shares plunge
(Reuters) - Qualcomm Inc illegally suppressed competition in the market for smartphone chips by threatening to cut off supplies and extracting excessive licensing fees, a U.S. judge ruled, a decision that could force the company to overhaul its business practices. Read More
Business News
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T-Mobile-Sprint deal would boost prices, hurt poorest U.S. consumers, experts say
WASHINGTON/NEW YORK (Reuters) - Concessions by T-Mobile US Inc to win U.S. government approval to buy Sprint Corp will likely lead to higher prices for the poorest Americans, many of whom use prepaid wireless plans, analysts and activists said.
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Tesla drops for sixth straight session, down 20% since share offer
SAN FRANCISCO (Reuters) - Tesla shares extended their recent sell-off on Wednesday after Citi cut its price target on the struggling electric car maker, leaving buyers of its recent share offer, including Chief Executive Elon Musk, $175 million in the hole.
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Renewed U.S.-China trade tensions push down Wall Street
NEW YORK (Reuters) - Wall Street's major indexes dipped on Wednesday as inflamed trade tensions between the United States and China weighed on investor sentiment.
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Economic News
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Fed's no-rate hike stance fails to lift U.S. housing outlook: Reuters poll
BENGALURU (Reuters) - U.S. house prices will rise this year by less than was predicted just three months ago, despite the Federal Reserve wiping out the prospect of future interest rate rises and recent market speculation about a cut, a Reuters poll showed.
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Explainer: China's rare earth supplies could be vital bargaining chip in U.S. trade war
WASHINGTON (Reuters) - Rare earth elements are used in a wide range of consumer products, from iPhones to electric car motors, as well as military jet engines, satellites and lasers.
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Next round of U.S. tariffs on China at least a month away: Mnuchin
WASHINGTON/BEIJING (Reuters) - The United States is at least a month from enacting its proposed tariffs on $300 billion in Chinese imports as it studies the impact on American consumers, U.S. Treasury Secretary Steven Mnuchin said on Wednesday.
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Money News
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Fingerprints and finances: next Wells Fargo CEO will be under regulatory microscope
WASHINGTON (Reuters) - From submitting their fingerprints to giving up their tax records, Wells Fargo & Co's next chief executive will go through a vetting process that could rival that of top U.S. government officials.
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Investors continue four-week retreat from U.S. stock market
NEW YORK (Reuters) - Investors continued a four-week long retreat from the U.S. stock market last week by unloading a net of nearly $9.6 billion in assets from domestic mutual and exchange-traded funds, according to data released Wednesday by the Investment Company Institute.
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'Toxic cocktail' brewing for U.S. asset managers: hedge fund investor Kass
(Reuters) - Hedge fund investor Doug Kass said on Tuesday that he is shorting several investment managers, including T. Rowe Price Group Inc and Franklin Resources Inc, as they could be "the next group to feel disruption" and may be headed for large share price falls.
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