Samsung Electronics said Tuesday morning it expects first quarter earnings to come below market expectations due to weakness in its display and memory businesses. In a regulatory filing, the world’s largest smartphone maker said it predicted a bigger-than-expected price decline for major memory products due to seasonal weakness in demand. Those components are used in
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European lawmakers have approved an initial deal on controversial copyright legislation that could have far-reaching consequences for the business models of tech giants like Google and Facebook. The law is aimed at bringing the EU’s rules on copyright into the 21st century to help artists and publishers whose works have been widely dispersed on the
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Yale University has rescinded the admission of a student linked to the national college admissions scandal that implicated 50 people, including celebrities, coaches and administrators, in paying and accepting bribes to get students into elite colleges. Thomas Conroy, Yale University spokesman, told CNBC the university “has rescinded the admission of one student as a result
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Airlines are preparing for more flight cancellations as Boeing readies a software fix for its best-selling 737 Max planes following two fatal crashes of the aircraft that prompted regulators around the world to ground the plane. On Saturday, pilots from U.S. carriers tested out Boeing’s software changes to the controversial anti-stall system in Renton, Wash.,
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Wall Street is scrambling to figure out what the conclusions of special counsel Robert Mueller‘s long-awaited investigation measn for the stock market. While many investment and equity strategists told CNBC that Attorney General William Barr’s letter about Mueller’s report relieves a persistent concern, few had expected a disastrous outcome for President Donald Trump. “No one
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Levi Strauss & Co., the 166-year-old bluejeans maker, went public on Thursday and closed its debut week with an $8.6 billion market cap. It’s the first time the company has traded publicly since 1985, when a San Francisco-based financier named Warren Hellman helped lead a $1.6 billion buyout. Hellman wasn’t particularly well-known at the time,
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Prudential, the United Kingdom’s largest insurer, said it finished transferring some operations to Luxembourg about a week ago in preparation of Britain’s impending exit from the European Union. The insurer announced earlier this month that it was transferring 36 billion pounds ($47.58 billion) of assets to Luxembourg, which is to become the company’s hub for
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New England Patriots owner Robert Kraft apologized to his family, friends and fans and vowed to regain their confidence and respect in his first public statement since being charged with two counts of soliciting prostitution as part of a human-trafficking probe in South Florida. His statement, below, comes after prosecutors offered Kraft a deal on
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A top executive at FedEx is flagging serious concerns in the global economy. The multinational package delivery service reported declining international revenue as a result of unfavorable exchange rates and the negative effects of trade battles. “Slowing international macroeconomic conditions and weaker global trade growth trends continue, as seen in the year-over-year decline in our
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