Business News

• Exclusive: U.S. set to give Huawei another 90 days to buy from American suppliers - sources August 17, 2019
  The U.S. Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from U.S. companies so that it can service existing customers, two sources familiar with the situation said.
• Court leaves PG&E with sole right to submit bankruptcy plan August 17, 2019
  A federal judge on Friday allowed PG&E Corp to retain the sole rights to propose a plan to exit bankruptcy, as he rejected efforts by investors to put forward competing plans, according to court documents.
• PES up against the clock to sell Philadelphia refinery in cash crunch August 17, 2019
  Finding a buyer for Philadelphia Energy Solutions' oil refinery has grown urgent as the bankrupt company's funds dwindle and no signs emerge that it is winning a fight for insurance payouts after a June blaze at the plant, according to court documents and bankruptcy experts.
• Amazon.com defeats IRS appeal in U.S. tax dispute August 17, 2019
  Amazon.com Inc on Friday defeated an appeal by the U.S. Internal Revenue Service in what the online retailer has called a $1.5 billion dispute over its tax treatment of transactions with a Luxembourg subsidiary.
• U.S. judge urges VW, SEC to resolve civil Dieselgate suit August 17, 2019
  A federal judge in California on Friday urged the U.S. Securities and Exchange Commission and Volkswagen AG to resolve a civil suit stemming from its Dieselgate emissions scandal.
• Airbnb records 30% growth rate in first-quarter on booking strength: source August 17, 2019
  Airbnb Inc recorded $9.4 billion in total booking value in the first quarter, up 31% from the year-ago quarter, a source familiar with the matter said on Friday, a key number that could help pull in investors as the home-sharing company plans its foray into the public market.
• Trump says he is having dinner Friday with Apple CEO Cook August 17, 2019
  U.S. President Donald Trump said he was having dinner on Friday with Chief Executive Officer Tim Cook of Apple Inc, a company the president has criticized for not manufacturing more of its products in the United States.
• Take Five: Fed in a hole August 16, 2019
  On Wednesday, the U.S. Federal Reserve releases the minutes of its last meeting, revealing what policymakers said about the flattening Treasury yield curve and the strength of support for July's quarter-point rate cut.
• U.S. removes some Chinese furniture, modems from planned 10% tariffs August 16, 2019
  The Trump administration is sparing some Chinese-made household furniture, baby items and internet modems and routers from its next rounds of 10% tariffs, it said on Friday.
• Wall Street Week Ahead: Lower rates could boost housing stocks, but risks remain August 16, 2019
  Lower U.S. interest rates could help support outperforming U.S. homebuilder stocks, even as they raise worries about the economy, while a bonanza of industry data and Federal Reserve speakers next week are likely to help shape the outlook.