Wall Street drops as Broadcom warning pushes chip stocks lower

(Reuters) – U.S. stocks dropped on Friday, as shares of chipmakers sank on a warning from sector major Broadcom of a broad weakening in global demand and Chinese data pointed to the worst slowdown in industrial growth in 17 years. Shares of Broadcom Inc fell 6.53% after it cut its full-year revenue forecast by $2 billion, blaming the U.S.-China trade […]

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Wall Street drops as Broadcom warning hits chip stocks

(Reuters) – U.S. stocks dropped on Friday, as shares of chipmakers sank on a warning from sector major Broadcom of a broad weakening in global demand and Chinese data pointed to the worst slowdown in industrial growth in 17 years. Shares of Broadcom Inc fell 6.53% after it cut its full-year revenue forecast by $2 billion, blaming the U.S.-China trade […]

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U.S. retail sales rise solidly in May; April data revised up

WASHINGTON (Reuters) – U.S. retail sales increased in May and sales for the prior month were revised higher, suggesting a pick-up in consumer spending that could ease fears the economy was slowing down sharply in the second quarter. The fairly upbeat report from the Commerce Department on Friday followed a raft of weak data, including a step-down in hiring in […]

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Broadcom's $2 billion warning shocks global chip sector

LONDON/BENGALURU – Broadcom Inc (AVGO.O) sent a shockwave through the global chipmaking industry on Friday with its forecast that U.S.-China trade tensions and the ban on doing business with Huawei Technologies would knock $2 billion off the company’s sales this year. The forecast, included in the company’s second quarter results late on Thursday, was the hardest evidence yet of the […]

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Wall Street to open lower on Broadcom warning, Chinese gloom

(Reuters) – Wall Street was set to drop at the open on Friday, as the long-feared hit to global growth from President Donald Trump’s trade war crystallized in slashed sales forecast from chipmaker Broadcom, and more signs of slowdown in Chinese industry. Shares of Broadcom Inc plunged 8.6% in premarket trading after it cut its revenue forecast for 2019 by […]

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Pence urges spending to repair well-worn U.S. national parks

OLD FAITHFUL, Wyo. (Reuters) – Against the backdrop of Yellowstone’s Old Faithful Geyser, U.S. Vice President Mike Pence on Thursday urged Congress to dedicate billions of dollars in federal energy revenues for repairs to aging facilities at America’s national parks. The Trump administration proposal, which failed to pass last year despite broad bipartisan support on Capitol Hill, offers warring Republicans […]

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House intelligence panel subpoenas ex-Trump advisers Flynn, Gates

WASHINGTON (Reuters) – The U.S. House of Representatives’ Intelligence Committee has issued subpoenas against former White House adviser Michael Flynn and President Donald Trump’s former deputy campaign chairman Rick Gates, the panel said in a statement on Thursday. In a letter accompanying the subpoena, the panel’s Democratic chairman, Adam Schiff, demanded that Flynn and Gates, who have both pleaded guilty […]

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Eos Developer Block.one Working With Lobbying Firm on Blockchain Issues

Eos (EOS) parent company Block.one has disclosed that it is a client of a lobbying firm in a disclosure form registered in May. In the document, Block.one is cited as the client of international law firm Holland & Knight LLP, whose offices globally work on over 200 different practice areas including regulatory and government affairs, blockchain technology and e-commerce. In […]

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