NEW DELHI—Sen. Elizabeth Warren (D-Mass.) called for breaking up Amazon.com Inc. and Indian retailers demanded a government probe of the company after a Reuters investigation showed the e-commerce giant had copied products and rigged search results in India. The Reuters report reviewing thousands of internal Amazon documents, found that the U.S. company ran a systematic…
Sen. Warren Urges Amazon Breakup, India Retailers Want Probe
October 15, 2021
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Washington Attorney General: Facebook Gave False Info in Campaign Suit
SEATTLE—Washington Attorney General Bob Ferguson said a Facebook representative provided false testimony in a lawsuit that accuses the company of violating state campaign finance laws. The Seattle Times reported that in court filings the Democratic attorney general says both the social media giant and its attorneys knew the testimony was false. Ferguson sued Facebook last…
Wall Street Rallies 1 Percent on Upbeat Earnings, Tech Strength
October 14, 2021
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Wall Street’s main indexes rallied on Thursday as a surge in technology stocks and strong quarterly results helped investors to look away from inflation concerns. The biggest boost came from growth names including Facebook Inc., Microsoft Corp., Amazon.com Inc., Tesla Inc., Apple Inc., and Google-parent Alphabet, which rose more than 1 percent. Bank of America…
S&P 500, Nasdaq Rise With Growth Stocks; JPMorgan a Drag
October 14, 2021
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NEW YORK—The S&P 500 and Nasdaq ended higher on Wednesday, led by gains in shares of big growth names like Amazon.com and Microsoft, but JPMorgan shares fell along with other bank shares and weighed on the market. The S&P 500 briefly added to gains following the release of minutes from the September Federal Reserve policy…
US Senator Asks Facebook CEO to Retain Documents Linked to Testimony
October 14, 2021
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WASHINGTON—Senate Commerce Committee Chair Maria Cantwell on Tuesday called on Facebook Chief Executive Mark Zuckerberg to preserve all documents related to a testimony last week from company whistleblower Frances Haugen. “The testimony … raises significant concerns about whether Facebook has misled the public, federal regulators, and this committee,” said Cantwell, a Democrat. “This committee will…
Futures Rise Ahead of JPMorgan Results, Inflation Data
October 13, 2021
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U.S. stock index futures edged higher on Wednesday ahead of quarterly results from JPMorgan which will kick off the corporate earnings season, with investors awaiting inflation data for clues on the future path of monetary policy. Mega-caps growth names including Facebook Inc., Amazon.com Inc., Google-parent Alphabet Microsoft Corp., and Tesla rose more than 0.5 percent…
Tech Stocks Lift Nasdaq, Banks Weigh on S&P 500, Dow
October 13, 2021
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The Nasdaq rose on Wednesday as technology stocks returned as market favorites amid concerns about rising inflation, while banking stocks slipped despite strong quarterly results from JPMorgan. Technology and communication services were among the few gainers among the 11 major S&P sectors. Mega-caps growth names including Facebook Inc., Amazon.com Inc., Google-parent Alphabet Microsoft Corp., and…
European Stocks Reverse Losses on Strong SAP, LVMH Results
October 13, 2021
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European stocks recouped early losses on Wednesday as upbeat earnings forecast from German software group SAP and robust quarterly sales for French luxury goods maker LVMH helped soothe worries about inflation. By 0824 GMT, the pan-European STOXX 600 index was up 0.2 percent after falling as much as 0.4 percent in opening trade. The German…
Slain Reporter’s Father Takes on Facebook Over Violent Video
October 12, 2021
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WASHINGTON—The family of a slain journalist is asking the Federal Trade Commission to take action against Facebook for failing to remove online footage of her shooting death. Andy Parker said Tuesday the company is violating its own terms of service in hosting videos on Facebook and its sibling service Instagram that glorify violence. His daughter,…
Nasdaq Futures Lifted by Big Tech as Focus Turns to Earnings
October 12, 2021
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Gains in technology stocks kept Nasdaq futures afloat on Tuesday, while futures tracking the Dow and the S&P 500 were pressured by worries of higher inflation and its impact on third-quarter earnings starting this week. Mega-caps growth names including Microsoft Corp., Facebook Inc., Amazon.com Inc., Google-parent Alphabet, and Tesla inched higher in premarket trading. Tesla…
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