(Reuters) - U.S. stocks fell on Monday, as a crackdown on China’s Huawei Technologies raised concerns of a bigger impact on chipmakers and added to fears of an escalation in trade war between the two nations. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 16, 2019. REUTERS/Brendan McDermid Apple Inc slumped 3.84%, weighing the most on the three main indexes. The S&P 500 technology sector slipped 1.95%, the biggest drop among the nine major S&P sectors trading lower. The iPhone maker was also pressured by a warning from HSBC that higher prices for the company’s products following the increases in tariffs could have “dire consequences” on demand. U.S. suppliers of Huawei, including Qualcomm, Micron Technology and Broadcom Inc, fell about 5%, while the Philadelphia Semiconductor Index slid 2.88%, its lowest level in over two months. “For a lot of these tech companies, there is no bigger market … [Read more...] about Wall St. drops as tech stocks tumble on Huawei fallout fears
Philadelphia tech companies
WASHINGTON/BEIJING (Reuters) - A U.S. bid to block China’s Huawei Technologies from buying vital American technology threw into question sales from some of the largest tech companies and drew a sharp rebuke on Thursday from Beijing, which warned it could hurt trade talks. A Huawei logo is seen at an exhibition during the World Intelligence Congress in Tianjin, China May 16, 2019. REUTERS/Jason Lee Shares of Huawei’s U.S. suppliers fell on fears the Chinese firm would be forced to stop buying American chips, software and other components after the Trump administration banned it from buying U.S. technology without special approval. Huawei, the world’s biggest telecoms equipment maker, said that losing access to U.S. suppliers “will do significant economic harm to the American companies” and affect “tens of thousands of American jobs.” “Huawei will seek remedies immediately and find a resolution to this matter,” the company … [Read more...] about Huawei ban clouds U.S.-China trade talks, tech sector
Mom and pop grocery stores are a dying breed in today’s market, disappearing from neighborhoods while supermarket titans take their place. But a tech startup in San Diego has a plan to save them from extinction. And the founder might have the chops to pull it off.Led by a butcher’s son (and backed by a billionaire), tech startup Mercato makes software that helps independent grocers do high-tech things — like offering their customers online ordering and grocery delivery — without having to do the work. The company was founded in 2015 by Bobby Brannigan, a 40-year-old New Yorker who’s had an impressive run as a startup investor and tech entrepreneur. Brannigan just moved his company — and his whole executive team — from the East Coast to San Diego, setting up a new headquarters in Little Italy in October. In a matter of months, the startup has grown to employ 26 people, occupying the ground floor of coworking space Downtown Works. Brannigan has … [Read more...] about Mom and pop grocery stores are dying off in San Diego. Can this tech entrepreneur save them?
Sections SEARCH Skip to content Skip to site index Technology Subscribe Log In Log In Today’s Paper Technology | Free Speech Puts U.S. on ‘a Collision Course’ With Global Limits on Big Tech Advertisement Supported by ByCecilia Kang April 21, 2019 WASHINGTON — When Mark Zuckerberg of Facebook called for regulating harmful internet content in an opinion column last month, Republicans in Washington expressed outrage that he was calling on the government to regulate speech. Within hours, the company’s top lobbyists started spreading another message to conservatives: Don’t take his suggestion too seriously. In a flurry of calls and emails to regulators, consumer groups and think tanks — as well as in person, at a weekly breakfast gathering of influential conservatives — the operatives said Mr. Zuckerberg was not encouraging new limits on speech in the United States. … [Read more...] about Free Speech Puts U.S. on ‘a Collision Course’ With Global Limits on Big Tech
SAN FRANCISCO (Reuters) - Wall Street’s beloved tech trade is back on. FILE PHOTO - A trader points to a screen that displays FANG+, group of highly-traded technology and tech-enabled companies, on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 11, 2018. REUTERS/Brendan McDermid U.S. technology stocks this week took back their title as the stock market’s most profitable bet of the year, and the so-called FANG stocks have regained their shine after investors dumped the high-flying group in December over fears that the decade-old bull market was dying. San Francisco’s unicorn startups are pouncing on tech’s newfound momentum. Ride-hailing company Uber Technologies Inc is planning to kick off a long-awaited initial public offering in April, Reuters reported on Thursday. That puts Uber close on the heels of smaller rival Lyft Inc, which released its filing for an initial public offering at the start of March following two solid … [Read more...] about Tech makes a comeback as Wall Street’s trendy trade