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Tesla is hurting but electric and self-driving cars are still a good investment

Tesla is having a brutal year. But the company’s missed sales forecasts and weakening demand shouldn’t scare investors away from the electric vehicle business. In fact, the EV industry as a whole is booming. Several major auto companies and tech giants are working on new electric and self-driving cars and trucks — which means there…MORE

Goldman Sachs makes biggest acquisition in nearly 20 years

Goldman Sachs just made its first M&A splash of the David Solomon era, scooping up United Capital in a bid to beef up its wealth-management business. The Wall Street heavyweight is pushing deeper into the slow-but-steady wealth management industry in hopes of offsetting the turbulence experienced in its once-vaunted trading arm. Goldman’s $750 million purchase…MORE

Gannett notches victory in hostile takeover bid

Gannett, the nation’s largest newspaper chain, notched an important victory Thursday in its attempt to fend off a hostile takeover bid. The company, which publishes USA Today, announced that all eight of its board nominees won election based on the results of a preliminary vote. That’s a rejection of Digital First Media’s efforts to win…MORE

Walmart says it will raise prices because of tariffs

Walmart, America’s largest retailer, said Thursday it will raise prices on some products as a result of the Trump administration’s tariffs on Chinese goods. “We’re going to continue to do everything we can to keep prices low. That’s who we are. However, increased tariffs will lead to increased prices, we believe, for our customers.” Walmart…MORE

Boeing has a ‘crisis of confidence.’ It’s time for the board to step up

Boeing is grappling with a profound crisis that threatens to undo the company’s century-old reputation for safety. The worldwide grounding of the 737 Max, Boeing’s best-selling product, raises alarming questions about whether the company rushed the jetliner’s development. And even after the first fatal 737 Max crash last year, Boeing failed to heed warnings from…MORE

Warren Buffett’s Berkshire Hathaway just made a $900 million bet on Amazon

Warren Buffett revealed how much his stake in Amazon is worth: more than $900 million. The CEO of Berkshire Hathaway has long praised Amazon and its CEO, Jeff Bezos, whose net worth passed Buffett’s two years ago on his way to claiming the title as the world’s richest man. Buffett has said he admires Bezos’…MORE

Taco Bell is taking over a hotel. Here’s why

Taco Bell is opening a hotel — sort of — to give it an edge over other fast food chains. For five nights in August, Taco Bell is taking over a Palm Springs hotel and turning it into The Bell: A Taco Bell Hotel and Resort in Palm Springs. The Bell will feature new and…MORE

Europe hits 5 banks with $1.2 billion fine over currency trading cartel

Five global banks have been slapped with a €1.07 billion ($1.2 billion) fine in Europe for running cartels that coordinated currency trading. The European Commission announced Thursday that it will hit JPMorgan Chase, Citigroup, Barclays, RBS and Japan’s MUFG with the penalties following an investigation into collusion in the foreign exchange market. The biggest fines…MORE

Huawei ban; Walmart earnings; VivaTech conference

1. Huawei ban: Another move by the Trump administration against China could send a shiver through global stocks Thursday. President Donald Trump on Wednesday signed an executive order barring US companies from using telecoms gear from sources the administration deems a national security threat. That action is seen as targeting Beijing and Chinese telecoms equipment…MORE

Why 2020 hopefuls like to announce their plans at the crack of dawn

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. How do you announce you’re running for president in this twittery media environment? Usually with an online video followed by a first TV interview — often times in the morning to dominate a news cycle…MORE

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