Apple tops $1 trillion, leading gains for US stocks

U.S. stocks climbed Thursday as Apple led a rally in technology companies and reached $1 trillion in value. Consumer products and health care companies rose as second-quarter results from corporate America continued to surpass investors’ expectations. Stocks in Asia and Europe fell after the White House said it will consider even higher tariffs on Chinese imports, escalating the trade conflict between the world’s two biggest economic powers. U.S. stocks opened lower as energy and basic materials companies slumped, but those

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Starbucks, Alibaba announce China delivery venture

Starbucks and Chinese e-commerce giant Alibaba Group announced a coffee delivery venture on Thursday, joining the growing competition in China‘s booming delivery industry. Starbucks Coffee Co. and Alibaba Group Holding Ltd. said the venture starts next month in Beijing and Shanghai. It will expand to 30 cities by the end of the year. Starbucks joins a booming Chinese delivery industry for goods ranging from clothes to groceries to cooked food. Its venture with Alibaba mimics Luckin Coffee, a Chinese upstart

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The 17 best back-to-school items you can get on Amazon

It’s the beginning of August, and that means back-to-school shopping is in full swing. Everywhere you look there’s an ad for school supplies, clothes, or dorm decor. You could go to crowded stores to do your back-to-school shopping—or you could just do it online and save yourself a lot of time and stress. Amazon just published a massive guide filled with everything students need for the school year, as picked by real parents, teachers, and students. We dug through the

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Fidelity offer of no-fee index funds hurts shares of rivals

BOSTON (Reuters) – Fidelity Investments outlined plans on Wednesday to launch no-fee index funds, hurting the shares of rivals including BlackRock Inc as investors worried about lower profits. The move marked the latest round of price cutting in the asset management industry, which has benefited from rising markets and steady inflows of investor cash to passively managed products. “This news has likely led to the significant selling-off of asset manager stocks today with many of the stocks we track down

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Asian markets extend losses on China-US trade jitters

Share benchmarks in Asia are sliding, tracking losses overnight on Wall Street, where investors sold industrial stocks following reports that the Trump administration is considering a higher tax rate on Chinese imports. KEEPING SCORE: Japan‘s Nikkei 225 index sank 0.7 percent to 22,596.31 while the Shanghai Composite index lost 2.5 percent to 2,755.22. Hong Kong’s Hang Seng index dropped 2.4 percent to 27,652.85 and the Kospi in South Korea shed 1.3 percent to 2,277.53. Australia‘s S&P ASX 200 skidded 0.3

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Now is the best time to buy a laptop for back to school

Back-to-school season is now in full swing. You know what that means, right? Stressed-out parents everywhere are looking for the best laptop deals for their soon-to-be college students. Fret not, parental units! The back-to-school season (August through September) is one of the best times to buy a laptop. For some models, there may be better deals around Black Friday. And, if you’re a Mac user, Apple doesn’t exactly follow a set schedule for sales. Generally speaking, though, the best deals

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Lloyds profits jump 23% despite fresh PPI hit of £550m | Business

Profits at Lloyds Banking Group jumped by almost a quarter in the first half of the year despite taking another hit of £550m to cover claims from mis-sold payment protection insurance. The high street lender said pre-tax profits rose 23% to £3.1bn in the six months to 30 June, on higher interest income and lower costs. An additional £460m PPI provision in the second quarter took the half-year charge to £550m – which was hefty but less than the £1bn

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Apple’s ride to $1 trillion: The magic number that gets it there

SAN FRANCISCO (Reuters) – Apple Inc updated its latest share count on Wednesday, putting the magic stock price at $207.04 that would make the iPhone maker the first publicly listed U.S. company valued at $1 trillion. Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, U.S., August 1, 2018. REUTERS/Lucas Jackson Apple said in a quarterly filing to the Securities and Exchange Commission, or SEC, that its share count was 4,829,926,000

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US proposes higher tax on $200 billion in Chinese imports

The Trump administration is proposing raising planned taxes on $200 billion worth of Chinese imports to 25 percent from 10 percent, turning up the pressure on Beijing in a trade war between the world’s two biggest economies. The United States has already imposed 25 percent tariffs on $34 billion in Chinese imports and is readying 25 percent tariffs on another $16 billion worth to punish China for allegedly using predatory tactics to obtain U.S. technology. The Chinese have retaliated in

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Federal Reserve holds interest rates steady, clears way for hike later

Paul Davidson USA TODAY Published 7:39 p.m. UTC Aug 1, 2018 WASHINGTON – Escalating U.S. trade fights with other countries aren’t throwing the Federal Reserve off its course of gradually raising interest rates as the economy strengthens. At least not yet. The Fed held interest rates steady Wednesday but upgraded its economic outlook and downplayed the trade skirmishes, clearing the way for a rate increase in September and possibly another at year-end. The central bank’s policymaking committee kept its benchmark

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