Stocks dove again on Wall Street Friday, capping a turbulent week of trading that gave the benchmark S&P 500 index its worst weekly loss since March. Technology stocks led the broad sell-off, which erased more than 500 points from the Dow Jones Industrial Average. Traders have been worried about worsening trade relations between the U.S. and China, and signals of slower economic growth.
Despite boasts among many networks — especially Fox’s — that they would be reducing commercial clutter to improve their viewer’s experiences in order to boost ratings, attentiveness and revenues, the trend has been in the other direction.
With the Democrats taking control of the House when the new session starts Jan. 3, lawmakers and media players are re-adjusting their strategies and preparing for a slew of new hearings and investigations. Democrats have already started to circle their wagons around Nexstar’s proposed purchase of Tribune Media.
Draft legislation that aims to provide federal oversight to sports betting surfaced out of retiring Sen. Orrin Hatch’s office this week. The 37-page untitled discussion draft, obtained by ESPN, is viewed as an initial step in what’s expected to be a long, tedious process that will play out as legal sportsbooks pop up in an increasing amount of states.
An early plunge briefly knocked more than 700 points off the Dow Jones Industrial Average Thursday as the arrest of a senior Chinese technology executive threatened to cause another flare-up in tensions between Washington and Beijing. The sell-off eased by late afternoon, however, after The Wall Street Journal reported that said the Federal Reserve is considering breaking with its current approach of steady interest rate hikes, favoring a wait-and-see approach.
Judges probing arguments for and against the AT&T-Time Warner merger attacked the Department of Justice’s argument that a lower court judge exhibited clear error in allowing the deal to go through and rejecting the government’s economic analysis that the combined company would use its leverage to raise retail prices anticompetitively. Judges sometimes play devil’s advocate, but DOJ clearly got the tougher — and much longer — end of the grilling.
From Tiffany Haddish to Nicole Kidman, Oprah Winfrey to Jennifer Salke, they’ve led through constant change, survived mega-mergers and stepped up creation to meet a seemingly insatiable global appetite for content — amplifying fresh, diverse voices along the way. The Hollywood Reporter honors 2018’s real superheroes: entertainment’s unstoppable female forces.
U.S. CEO Jim Lentz told the Detroit Economic Club Wednesday that car sales fell below 30% of vehicle sales last month, and he thinks that’s close to the bottom. Nationwide, passenger car sales are on pace to be 800,000 vehicles below 2017, while truck and SUV sales should increase by the same amount.