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BUSINESS • Today
British Airways owner IAG says IT chaos cost £58m
July 28, 2017
The airline says May's IT failure led to additional costs for compensation fees and baggage claims.
Business Headlines
Business World
Amazon wobble creates ripples across worldwide stock markets
July 28, 2017
LONDON (Reuters) - An earnings miss by Amazon that hit U.S. technology stocks overnight rippled through into other markets on Friday, with Asian stocks retreating from recent highs and European tech shares opening sharply lower.
Consumers, businesses likely spurred U.S. economic pickup in second quarter
July 28, 2017
WASHINGTON (Reuters) - The U.S. economy likely accelerated in the second quarter as consumers ramped up spending and businesses invested more on equipment, which would confirm that the sluggish performance early in the year was temporary.
Amazon plows ahead with high sales and spending; profit plunges
July 28, 2017
(Reuters) - Amazon.com Inc on Thursday reported a jump in retail sales along with a profit slump, as its rapid, costly expansion into new shopping categories and countries showed no sign of slowing.
Value of U.S. deals in China sinks on rising trade tensions
July 28, 2017
HONG KONG (Reuters) - U.S. corporate acquisitions in China collapsed to their lowest level for 14 years in the first half of this year, as trade tensions between the two countries and uncertainty about Chinese government regulations took a toll on deal making.
In Puerto Rico bankruptcy, mutual funds compete with themselves
July 28, 2017
(Reuters) - U.S. mutual funds that held onto Puerto Rican debt as its economy crept toward collapse could get drawn into battles that pit their own investors against each other, as the island navigates the biggest government bankruptcy in U.S. history.
U.S. coal exports soar, in boost to Trump energy agenda, data shows
July 28, 2017
WASHINGTON/LONDON (Reuters) - U.S. coal exports have jumped more than 60 percent this year due to soaring demand from Europe and Asia, according to a Reuters review of government data, allowing President Donald Trump's administration to claim that efforts to revive the battered industry are working.
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BUSINESS • Report
Amazon's Expansion Costs Take a Toll
July 28, 2017
Amazon said quarterly profit fell 77% even as sales jumped, a sign of the high cost of its increasing dominance of retail. The company posted $197 million in profit as it spent on new warehouses, delivery capacity and data centers.
China's Next Target: U.S. Microchip Hegemony
July 28, 2017
The semiconductor industry, a stalwart of the global economy, is succumbing to fierce nationalistic competition, as China aims to dominate the market as it did with steel and solar panels. Washington, in an unusual show of bipartisanship, is fighting back.
Company News
Business Highlights
Jeff Bezos overtakes Bill Gates to become world’s richest person
July 27, 2017
Preview Amazon CEO Jeff Bezos has become the world’s wealthiest man, surpassing Microsoft co-founder Bill Gates after shares in the e-commerce giant surged by more than $15 overnight, according to Bloomberg.
Read Full Article at RT.com
International Business
Spain’s Long Economic Nightmare Is Finally Over
July 28, 2017
After nearly a decade of economic crisis, Spain is finally growing again, underscoring hopes that the eurozone has reached a healthier place.
Uber’s Next C.E.O.? Meg Whitman Says It Won’t Be Her
July 28, 2017
Ms. Whitman, chief executive of Hewlett Packard Enterprise, said she would not become Uber’s next chief, following reports about potential candidates.
Asian Shares Slide as Wall St Tech Swoon Weighs on Sentiment
July 28, 2017
Asian shares slid Friday as investors evaluated the latest raft of corporate earnings, including those from tech stocks, which had a poor day on Wall Street and weighed on overall investor sentiment.
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BUSINESS • Analysis
Regular drinking can reduce risk of developing diabetes, study suggests
July 28, 2017
Drinking alcohol three to four times per week could significantly reduce a person’s chances of developing diabetes, according to a new study.
British Airways-owner IAG forecasts double-digit rise in full-year operating profit
July 28, 2017
British Airways owner IAG said on Friday that it expects operating profit for 2017 to show a double-digit percentage improvement following a strong second quarter, despite a massive power outage which grounded some flights.

Business Brief
Facebook vs. Twitter: A tale of two social networks
July 27, 2017
Unlike Twitter, Facebook knows details about its users’ lives that aren’t generally available to advertisers on other digital platforms
Starbucks puts spotlight on China amid U.S. growth worries
July 27, 2017
The company’s shares fell 4 per cent to $57.14 in after-hours trading
Amazon profit slumps 77 per cent as costs surge; shares fall
July 27, 2017
Amazon, which is in the process of buying upscale grocer Whole Foods, has stepped up spending to expand globally
Adidas sells hockey brand CCM to Birch Hill for $110-million
July 27, 2017
Adidas has shaken up its business in the United States and shed non-core businesses to regain ground lost to Nike, outpacing its rival’s sales growth in key markets this year
French oil giant Total cuts off funding for Fort Hills project, Suncor says
July 27, 2017
Dispute between companies adds to uneasiness over Alberta’s dominant oil sands industry
Business Trends
SpaceX's new funding makes it the fourth most valuable private tech company in the US
July 27, 2017

Elon Musk’s aerospace company SpaceX is now valued at $21.2 billion, knocking off WeWork as the fourth most valuable privately held tech company in America. This skyrocket in valuation comes after another round of funding that raised $351 million for the company. According to Equidate, a marketplace for trading private tech company stocks, SpaceX’s price per share is now $135, up from $96.42 prior to the new funding round.

The latest valuation makes SpaceX one of the top five most valuable private, venture-backed tech companies in the US, joining Uber ($69.8B), Airbnb ($31B), WeWork ($20.8B), and the less consumer-facing analytics company Palantir ($21.3B). (SpaceX previously held the sixth spot before Snap, Inc. went public in March.)...

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BUSINESS • Opinion
China’s New Digital Dividend
July 27, 2017
Despite current concerns about China's corporate-debt crisis, rapid digitization is transforming the Chinese economy, and elevating its place in the global value chain. But China's ongoing transition is as risky as it is exciting, because no economy so large has undergone such rapid, far-reaching change.
Business Comment

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BUSINESS • Insight
Mapping tech’s profits
July 27, 2017
Networks and platforms reign within the high tech, media, and telecom industries—here’s a look at the leading profit spinners across the globe.
Business Perspective
Lessons from America’s Golden Age of Innovation
July 26, 2017
Based on decades of patenting data.
Consumer Insights
Does mobile engagement ring true? The need for a total media perspective
July 27, 2017
I always like people-watching on my morning commute on the train. Not in a weird way you understand. There are people sleeping, reading, watching and listening. But nobody talks. There are several people staring vacantly into their mobile phones, scrolling and clicking. The man opposite me reads his free morning newspaper. Another is working and…
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BUSINESS • Outlook
To Explain The Difficulty With Replacing Libor - It's Impossible Actually
July 28, 2017
And that's our problem with replacing Libor. Some currency/time matches we can look to a market but others just don't have either a market or a market price. Thus we can only ask opinions. Entirely replacing Libor is impossible. The best we can manage is to do without it.
Business Insight
Private Equity Strategies for Brazil’s New Economic Reality
July 26, 2017
Article
Wednesday, July 26, 2017
After a rapid boom (and bust), the country now offers strong options for firms looking to diversify in an emerging market. To capitalize, they’ll need to focus on five priorities.
Defense Grows While Commercial Aerospace Slows
July 26, 2017
Article
Wednesday, July 26, 2017

Although new orders from airlines have slowed somewhat, the industry continues to outperform the S&P 500, thanks to strong growth among defense contractors.

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