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Boeing CEO David Calhoun will step down from the embattled plane maker at the end of the year as part of a broad management shakeup Monday after a series of mishaps at one of America's iconic manufacturers. Stephanie Pope, the company's chief operating officer for less than three months, has taken over leadership of the key division. Boeing has been under intense pressure since early January, when a panel blew off a brand-new Alaska Airlines 737 Max. Airline executives have expressed their frustration with the company, and even minor incidents involving Boeing jets have attracted extra attention. Pope, 51, was promoted to Boeing chief operating officer only in January.

Persons: David Calhoun, Stan Deal, Stephanie Pope, Lawrence Kellner, Calhoun, ”, Max, “, ” Calhoun, Dennis Muilenburg, Brian West, Steven Mollenkopf, Jason Gursky, Pope, Gursky, Richard Aboulafia, Patrick Shanahan —, Trump, AeroSystems, ” Cai von Rumohr, Cowen, Michael O’Leary, he’s, Michelle Chapman Organizations: Qualcomm, Boeing, Alaska Airlines, Max, Federal Aviation Administration, FAA, Citi, U.S, Defense, Irish, Ryanair, ”, Boeing Co, AP Locations: Seattle, Indonesia, Ethiopia, Arlington , Virginia, Alaska, Calhoun, New York

☆ Gen Z Is Primed to Succeed at Starting Their Own Small Business
▼ + stars: | 2024-03-25 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

He was able to scale the business to more than $600,000 in revenue by 2018, when he graduated from high school. Before the internet, starting a business was a serious hassle. The problem wasn't that people weren't interested in starting a business: A 2016 EY study found that 62% of 18- to 34-year-olds had toyed with venturing into business ownership. That has made starting a business all the more appealing — and affordable — for prospective entrepreneurs. And with the plethora of digital tools we have today, starting a business is more accessible than ever.

Persons: Luke Lintz, Lintz, Bernhard Schroeder, Schroeder, Gen Zers, —, Martin Warner, Warner, GoDaddy, HighKey, Nicki Minaj, Kevin Hart, Khloé Kardashian, Tom Peters, Peters, " Schroeder, ZenBusiness, Gen, Zers, he'd Organizations: Apple, Shipping, Lavin Entrepreneurship, San Diego State University, Entrepreneurship, Dynamics Statistics, Business, Fast Company, Small Business Administration Locations: North America, China

The mini totes are offered in four colors — blue, red, green, and yellow — and they are all in high demand. Videos shared on social media show crowds of customers visiting Trader Joe’s stores hoping to get their hands on one of the highly-coveted mini totes. “Our Mini Canvas Tote Bags certainly sold more quickly than we anticipated,” said Nakia Rohde, a spokesperson for Trader Joe’s. Of course, Trader Joe’s mini totes aren’t the first to become a viral sensation. “We do have more Trader Joe’s Mini Canvas Tote Bags coming,” said Rohde.

Persons: ”, Nakia Rohde, Joe’s, Rohde, Huy, Stanley, Wyatte Organizations: eBay, Facebook, “, AP, Philips Locations: Monrovia , California, Huy Fong, New York

TOKYO (AP) — Asian shares were trading mixed Thursday, after Wall Street recovered some losses from the day before. Japan's benchmark Nikkei 225 momentarily reached a record high in early trading but slipped later to finish at 39,598.71, down 1.2%. “The positive handover from Wall Street, alongside lower Treasury yields and a weaker U.S. dollar, may offer some relief as Fed Chair’s testimony failed to drive much hawkish deviation from his usual script,” said Yeap Jun Rong, market analyst at IG. As always, Wall Street scrutinized each of Powell's words for hints about when the Federal Reserve could begin cutting its main interest rate, which is at its highest level since 2001. “We want to see a little more data so we can become more confident.”Traders have already shelved earlier expectations for a cut in March, and they’re now eyeing June as the likeliest beginning.

Persons: Australia's, ”, Yeap Jun Rong, Jerome Powell, CrowdStrike, Steven Mnuchin, Donald Trump, Powell, ” Powell, Rubeela Farooqi, Locker, Brent, Stan Choe Organizations: TOKYO, Wall, Nikkei, IG, Federal, Dow Jones, Nasdaq, Nvidia, Big Tech, New York Community Bancorp, U.S, Treasury, Federal Reserve, Fed, Traders, AP Locations: Hong, Shanghai

NEW YORK (AP) — A federal judge in Texas has ordered a 55-year-old U.S. agency that caters to minority-owned businesses to serve people regardless of race, siding with white business owners who claimed the program discriminated against them. The agency, which helps minority-owned businesses obtain financing and government contracts, now operates in 33 states and Puerto Rico. Justice Department lawyers representing Minority Business Development Agency declined to comment on the ruling, which can be appealed to the conservative-leaning 5th U.S. John F. Robinson, president of the National Minority Business Council, said the ruling is “a blow against minority owned businesses," and does nothing to help majority-owned businesses because they already enjoy access to federal resources through the Small Business Administration. "It has the potential of damaging the whole minority business sector because there will be less service available to minority-owned businesses,” Robinson said.

Persons: Mark T, Pittman, Donald Trump, Nixon, Biden, ” Pittman, Dan Lennington, ” Lennington, John F, Robinson, ” Robinson, Arian Simone, Alphonso David, David, Stanley Goldfarb, ”, “, —, David Glasgow, Graham Lee Brewer, Haleluya Hadero Organizations: —, U.S, Northern, Northern District of, U.S . Commerce Department, Infrastructure Investment, Jobs, Black, Wisconsin Institute for Law & Liberty, Justice Department, Business, Agency, Circuit, National Minority Business Council, Small Business Administration, Economic, Pfizer, The, Appeals, American Alliance for Equal Rights, Meltzer Center for Diversity, New York University’s School of Law, Supreme, AP Locations: Texas, Northern District, Northern District of Texas, Puerto Rico, New Orleans, Tennessee, Atlanta, The New York, Florida, New

Uber Eats says its flower orders peak on Valentine’s Day between 10 a.m. and 5 p.m. Uber Eats says it also appears to be a resource for forgetful lovers: Its flower orders are 60% higher than average on the day after Valentine’s Day. But I love making people happy.”Bryant sympathizes with the people who call in orders on Valentine’s Day. She spent a lot of time trying to figure out how many flowers to order for her shop this Valentine's Day. In 2023, 30% of OpenTable reservations for Valentine’s Day were made the day before and 18% were made on the day of. The venue gets requests all the way through Valentine’s Day, says Katie Higgins, Meadow Brook’s marketing and communications manager.

Persons: ”, Amanda Schoenbauer, they’re, Candy, décor, Target, Uber, Procrastinators, Linda Bryant, “ Valentine’s, “, ” Bryant sympathizes, it’s, Katie Higgins, Meadow, Joseph Ferrari, Ferrari, Don’t, Anne D'Innocenzio Organizations: Walmart, National Retail Federation, Walgreens, Valentine’s, DePaul University in, AP Locations: Panama , Nebraska, Rochester , Michigan, DePaul University in Chicago, New York

As of early Thursday, a vast roster of popular songs were disappearing from the social media platform's library. The complete removal of UMG-licensed music will likely take a few days — but chances are, avid TikTokers are already seeing the effects. Artists will also not be able to post the audio of their UMG-licensed songs on TikTok. “It is sad and disappointing that Universal Music Group has put their own greed above the interests of their artists and songwriters,” TikTok said. Mall stressed the overall consequences of pulling music from social media platforms like TikTok — particularly for younger developing artists.

Persons: —, Taylor Swift, Bunny, Drake —, TikTok, UMG, ”, Andrew Mall, Ariana Grande, Justin Bieber, Billie Eilish, ” UMG, ” TikTok, we're, “, UMG's Virgin EMI Records Ted Cockle, Cockle, Alexandra J, Roberts, SZA, Drake, Billie Eilish —, Jessica Henig, it's, Henig, Michelle Chapman Organizations: Universal, Group, Associated Press, “ Universal, Northeastern University, UMG, Universal Music, UMG's Virgin EMI Records, Music Management, ”, Associated, Virgin EMI, AP Locations: UMG, New York

LONDON (AP) — Amazon called off its purchase of robot vacuum maker iRobot on Monday, blaming “undue and disproportionate regulatory hurdles" after the European Union signaled its objection to the deal. The deal faced antitrust scrutiny on both sides of the Atlantic, but most strongly in Europe, where regulators investigating competition concerns were expected to issue a final decision by Feb. 14. Amazon announced in 2022 that it would buy iRobot, maker of the circular-shaped Roomba vacuum, for $1.7 billion in cash. Political Cartoons View All 253 ImagesWhile British antitrust regulators cleared the purchase in June, it also still faced scrutiny in the U.S. by the Federal Trade Commission. This is the latest example of a deal involving U.S. companies that fell apart after facing scrutiny from European regulators.

Persons: iRobot, David Zapolsky, Amazon’s, Colin Angle, Glen Weinstein, Haleluya Hadero Organizations: European Union, Amazon, European Commission, Federal Trade Commission, U.S, Adobe, Biotech, ___ AP Locations: European, Europe, Bedford , Massachusetts, U.S, EU, New York

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was “impacting everyone and something we’re very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was “only mildly impacted by the transit challenges in the Red Sea."

Persons: What’s, Ryan Petersen, Petersen, It’s, Clifton Broumand, Broumand, —, ”, “, it’s, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, it's, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti, ____ Anderson, Kelvin Chan, Anne D'Innocenzio, Yuri Kageyama, Tom Krisher, David McHugh Organizations: WASHINGTON, —, Hamas, Machine, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer, Free People, AP Business Locations: Belgium, Germany, British, Maryland, Asia, Ukraine, Yemen, Gaza, Europe, United States, Suez, Africa, “, Panama, Greater Landover , Maryland, Taiwan, China, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India, New York, London, Tokyo, Detroit, Frankfurt

☆ Like Nora Ephron, With a British Twist
▼ + stars: | 2024-01-27 | by ( Katie J. M. Baker | ) www.nytimes.com time to read: +3 min

GOOD MATERIAL, by Dolly AldertonAndy, the 35-year-old struggling comedian who narrates most of Dolly Alderton’s new novel, “Good Material,” has been freshly dumped by his ex, Jen, for mysterious reasons. Like Rob in Nick Hornby’s “High Fidelity,” an obvious inspiration, Andy knows his relationship had its problems. In the process, maybe he can get to the bottom of why the rest of his life has derailed, too. His friends won’t meet for impromptu drinks because they have to get up early to take care of their children. In “Good Material,” as in all of her writing, Alderton excels at portraying nonromantic intimate relationships with tenderness and authenticity.

Persons: Dolly Alderton Andy, Dolly Alderton’s, ”, Jen, Rob, Nick Hornby’s “, Andy, “, ” can’t, he’s, Julian Assange, won’t, there’s Jen, Sophie, Alderton Organizations: New York Times Locations: ”, U.S, London

☆ Netflix's password crackdown worked. It could have more tricks to lure subscribers.
▼ + stars: | 2024-01-25 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +6 min

Read previewWhen Netflix announced it was mulling a ban on password sharing a few years ago, subscribers immediately balked. For years, Netflix turned a blind eye to password sharing, even winkingly encouraging it on social media. Sorry, the password crackdown workedTo the dismay of the #CancelNetflix-ers, the password reckoning has paid off — handsomely. In the third quarter of 2023, Netflix reported that it added 8.8 million subscribers, vastly exceeding expectations. The fourth quarter numbers yielded even better results: 13.1 million global subscribers for a total of more than 260 million, Business Insider's Lucia Moses reported.

Persons: —, Nobody, Netflix's, leeching, Insider's Lucia Moses, That's, Jadrian Wooten, Wooten, What's Organizations: Service, Netflix, Business, Disney, Paramount, Virginia Tech, Virginia Tech News

Political Cartoons View All 253 ImagesMicrosoft’s years-long relationship with OpenAI is the best known of the partnerships. Google and Amazon have more recently made multibillion-dollar deals with Anthropic, another San Francisco-based AI startup formed by former leaders at OpenAI. The European Union and the United Kingdom have already signaled that they might also scrutinize the relationship with Microsoft and OpenAI. Antitrust advocates welcomed the actions from both the FTC and Europe into the deals that some have derided as quasi-mergers. The companies have 45 days to provide information to the FTC that includes their partnership agreements and the strategic rationale behind them.

Persons: OpenAI, ”, Lina Khan, Khan, Microsoft didn't, Matt Stoller, Satya Nadella, Kara Swisher, Sam Altman, Nadella, “, ” Nadella, Altman’s, It’s, They’re, Kelvin Chan Organizations: Google, Microsoft, U.S . Federal Trade Commission, FTC, Anthropic, OpenAI, European Union, Antitrust, Big Tech, American Economic Liberties, “, Intel, Bloomberg, Economic Locations: San Francisco, United Kingdom, Europe, OpenAI, Davos, Redmond , Washington, Iowa, Switzerland, London

TOKYO (AP) — Asian shares traded mixed Thursday as pessimism spread among investors about any imminent interest rate cut in the United States. Wall Street slipped following another signal that it may have gotten too optimistic about when the Federal Reserve will deliver the cuts to interest rates. Yields climbed after a report showed sales at U.S. retailers were stronger in December than economists expected. Higher yields can crimp profits for companies, while also making investors less willing to pay high prices for stocks. Higher yields hurt all kinds of investments, and high-growth stocks tend to be some of the hardest hit.

Persons: Australia's, Korea's Kospi, Seng, Brent, Stan Choe, Yuri Kageyama Organizations: TOKYO, Nikkei, Shanghai, Federal Reserve, Dow Jones, Nasdaq, U.S, Treasury, Amazon, Fed, Traders, CME Group, European Central Bank, U.S . Bancorp, Sporting Goods, Spirit Airlines, JetBlue Airways, JetBlue, U.S ., AP Locations: United States, Hong, U.S, New York

TOKYO (AP) — Asian shares were trading mostly lower on Wednesday after a decline overnight on Wall Street, while Tokyo's main benchmark momentarily hit another 30-year high. S&P 500 futures fell 0.5% to 4,775.25. Companies across the S&P 500 are likely to report meager growth in profits for the fourth quarter from a year earlier, if any, if Wall Street analysts' forecasts are to be believed. But optimism is higher for 2024, where analysts are forecasting a strong 11.8% growth in earnings per share for S&P 500 companies, according to FactSet. The index remains within 0.6% of its all-time high set two years agoFor now, traders are penciling in many more cuts to rates through 2024 than the Fed itself has indicated.

Persons: Australia's, Korea's Kospi, Stephen Innes, Brent, Stan Choe, Yuri Kageyama Organizations: TOKYO, Dow, Nikkei, Companies, Wall, Federal Reserve, Fed, U.S, AP Locations: Hong, Shanghai, New York

WASHINGTON (AP) — The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates. The Paris-based Organization for Economic Cooperation and Development estimated Wednesday that international growth would slow to 2.7% in 2024 from an expected 2.9% pace this year. Despite the gloomier outlook, the organization is “projecting that recessions will be avoided almost everywhere,” OECD Secretary-General Mathias Cormann said at a news conference. The OECD foresees U.S. inflation dropping from 3.9% this year to 2.8% in 2024 and 2.2% in 2025, just above the Fed’s 2% target level. They have been hurt by heightened interest rates and by the jump in energy prices that followed Russia's invasion of Ukraine.

Persons: General Mathias Cormann, decelerate, —, “, we’ve, Clare Lombardelli, Courtney Bonnell Organizations: WASHINGTON, Economic Cooperation, Development, OECD, European Union, AP Locations: Paris, Israel, Ukraine, United States, China, U.S, European, Europe, Russia, Germany, London

TOKYO (AP) — Asian shares mostly fell Wednesday although a strong report on U.S. consumer confidence and hopes the Federal Reserve is finished with its aggressive interest rate hikes sent shares higher on Wall Street. Food delivery company Meituan's Hong Kong-traded shares dropped 11% after it forecast its revenue will fall in the current quarter. The loosening grip from inflation and a resilient economy have raised hopes that the Fed might finally be finished with raising its benchmark interest rate. Hopes that the Fed will keep its benchmark interest rate steady were reaffirmed Tuesday by Christopher Waller, a member of the Fed’s Board of Governors. The Fed will meet again in December to update its interest rate policy.

Persons: Australia's, Hang Seng, Matthew Weller, Forex.com, Brent, Tesla, Christopher Waller, “, ” Waller, Damian J, Troise, Alex Veiga Organizations: TOKYO, Reserve, Nikkei, China Evergrande, Benchmark, New York Mercantile Exchange, Dow Jones, Nasdaq, Microsoft, GE Healthcare Technologies, Treasury, Federal Reserve, Fed’s, Governors, American Enterprise Institute, U.S ., AP Business Locations: Hong, Shanghai, Hong Kong, China, OPEC, Washington

TOKYO (AP) — Asian shares traded mixed Tuesday after a rally on Wall Street that was led by gains in Microsoft following its announcement that it was hiring Sam Altman, former CEO of OpenAI, the ChatGPT maker. On Wall Street, the S&P 500 gained 0.7% to 4,547.38, coming off its third straight winning week. Microsoft said it will also continue its partnership with OpenAI, as fervor around artificial-intelligence technology and the huge profits it’s expected to create wow Wall Street. This week is relatively light on reports that could sway the hopes on Wall Street that have underpinned that drop in Treasury yields. In energy trading, benchmark U.S. crude fell 61 cents to $77.22 per barrel in electronic trading on the New York Mercantile Exchange.

Persons: Sam Altman, Seng, ” Tan Boon Heng, Australia's, Kospi, Lowe’s, Brent, Stan Choe Organizations: TOKYO, Microsoft, OpenAI, Mizuho Bank, Dow Jones, Nasdaq, Federal Reserve, Traders, Nvidia, Deere, HP, Treasury, New York Mercantile Exchange, U.S ., AP Locations: Shanghai, Beijing, U.S

☆ Exclusive: China asks brokerages to curb leveraged stock trades - sources
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +3 min

A source at one of China's big brokerages confirmed the guidance, citing regulators' concern over market risks. The new restrictions come after China's securities watchdog vowed to strengthen supervision and prevent risks in a volatile stock market. Sources told Reuters in September that regulators were probing brokerages for data around the DMA-Swap business. Hedge fund managers received notices from their brokerages after trading closed on Wednesday asking them to cap their DMA-Swap business at current levels, two sources said. CSRC Chairman Yi on Wednesday attributed previous market crises - including China's 2015 stock market crash - to leverage getting out of control.

Persons: brokerages, Yi Huiman, Yi, Vidya Ranganathan, Simon Cameron, Moore Organizations: Reuters, China Securities Regulatory Commission, Shanghai, Thomson Locations: SHANGHAI, SINGAPORE, China

The National Financial Work Conference, usually held twice a decade, is expected to further fortify leader Xi Jinping’s control of the country’s $61 trillion financial sector. “Overall, the financial sector in China has made progress but at this moment they face challenges,” said Nakao. Last week, Xi reportedly visited the central bank, or People’s Bank of China, a rare step that underscores the party’s consolidation of controls over markets and financial institutions. Country Garden, another major developer, failed last week to meet a deadline to pay interest on a dollar bond. It has adopted measures to support private industries, which provide the lion's share of jobs in China.

Persons: —, Xi Jinping’s, Takehiko Nakao, China’s, ”, Li Keqiang, Li, shakeup, Xi, Lan Fo’an, Evergrande, Hui Ka Yan, Zen Soo Organizations: Financial Work Conference, Asian Development Bank, Central Financial Commission, China Securities Regulatory Commission, People’s Bank of, International Monetary Fund, AP Locations: BANGKOK, Beijing, China's Guangzhou, “, China, People’s Bank of China, Hong Kong, Foshan

DETROIT (AP) — Jeep maker Stellantis has reached a tentative contract agreement with the United Auto Workers union that follows a template set earlier this week by Ford, two people with knowledge of the negotiations said Saturday. Political Cartoons View All 1223 ImagesLike the Ford contract, the Stellantis deal would run through April 30, 2028. Jermaine Antwine and other Stellantis workers picketing outside the automaker’s Sterling Heights, Michigan, were excited Saturday after hearing news of a tentative deal. The union and Stellantis went into intense negotiations on Thursday, the day after the Ford deal was announced, and finalized the agreement on Saturday. Under the Ford deal, workers with pensions also will see small increases when they retire, and those hired after 2007 with 401(k) plans will get large increases.

Persons: Stellantis, Bruce Baumhower, “, Fain, Baumhower, Shawn Fain’s, ”, Jermaine Antwine, Antwine, Ford, Haleluya Hadero, Corey Williams Organizations: DETROIT, United Auto Workers, Ford, Workers, Jeep, UAW, General Motors, GM, Saturday, Kentucky, Plant, Detroit, Hollywood, Teamsters, AP Locations: Michigan, Ohio, Stellantis, Belvidere , Illinois, Toledo , Ohio, Sterling Heights , Michigan, Pontiac , Michigan, Sterling, Texas , Michigan, Missouri, Louisville, Jersey City , New Jersey

BANGKOK (AP) — Markets fell in Europe and Asia after China reported Wednesday that its economy grew at a 4.9% annual pace in July-September, down from 6.3% in the previous quarter. The future for the S&P 500 lost 0.2% and that for the Dow Jones Industrial Average was 0.1% lower. Weak global demand and the property industry remain the biggest shadows overhanging the economy in the near term, economists said. “The wider data on the property sector remained weak, although green shoots are appearing,” Capital Economics said in a report. Bank of New York Mellon rose 3.8% after it also reported stronger profit than expected for the latest quarter.

Persons: Germany's DAX, Wyndham, Brent, Writers Zen Soo, Stan Choe Organizations: —, CAC, FTSE, Dow Jones, Bureau of Statistics, Nikkei, Nasdaq, U.S, Treasury, Nvidia, Bank of America, Wall, Bank of New, Bank of New York Mellon, Wyndham Hotels, Resorts, ”, New York Mercantile Exchange, AP, Writers Zen Locations: BANGKOK, Europe, Asia, China, Paris, Shanghai, Tokyo, Bank of New York, Iran

Stores are starting their busiest time of year as customers look for help with colds and the flu. Some drugstores have addressed their challenges by adding employees at busy hours. Chris Adkins said he left his job as a pharmacist with a major drugstore chain a couple years ago because of the stress. Labor strife and staffing shortages in health care are not isolated to drugstores, as the recent Kaiser Permanente strike shows. All told, CVS touts in a pharmacy counter brochure that the company can offer more than 15 vaccines to customers.

Persons: haven’t, Chris Adkins, Adkins, ”, “, drugstores, Richard Dang, Dang, John Staed, Rosalind Brewer, Brewer, Jonathan Marquess, Marquess, Jen Cocohoba, ” Cocohoba, Josh Funk Organizations: University of Southern, California Pharmacists Association, Customers, CVS, Walgreens, Labor, Permanente, National Community Pharmacists Association, University of California San, AP, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group Locations: University of Southern California, Pelham , Alabama, Georgia, University of California San Francisco

NEW YORK (AP) — Wall Street is sinking sharply Tuesday as it focuses on the downside of a surprisingly strong job market. Stocks fell as the pressure on them cranked even higher from rising Treasury yields in the bond market. Tuesday's report on the U.S. job market could give the Fed more reason to keep rates high. They and other high-growth stocks are seen as some of the biggest victims of high interest rates. The resumption of student-loan repayments could drag on spending by U.S. households, which has been strong enough to help keep the economy out of a recession despite high interest rates.

Persons: Stocks, Michelle Bowman, ”, Yung, Yu Ma, McCormick, China Evergrande, Eli Lilly, Brent, Matt Ott, Elaine Kurtenbach Organizations: Dow Jones, Nasdaq, Treasury, Federal Reserve, Fed, BMO Wealth Management, Big Tech, Microsoft, Nvidia, Nikkei, AP Business Locations: Wall, China, South Korea, Europe

Stocks broadly got a boost after yields in the Treasury market eased further off their highest levels in more than a decade. Yields fell after a report showed the measure of inflation that the Federal Reserve prefers to use was a smidgen cooler last month than economists expected. It charged this week to its highest level since 2007, up from 3.50% in May and just 0.50% in 2020. The latest monthly update on the U.S. jobs market is due next week, with a couple of important reports on inflation coming the following week. Big Tech stocks were helping to lead the market, as they're seen as some of the biggest beneficiaries from easier yields in the bond market.

Persons: it’s, ”, Brian Jacobsen, doesn’t bode, it's, Brent, Schlumberger, Matt Ott, Elaine Kurtenbach Organizations: Dow Jones, Nasdaq, Nike, Federal Reserve, Treasury, Annex Wealth Management, Wonder Group, Big Tech, Microsoft, Nvidia, Exxon Mobil, AP Business Locations: North America, U.S, Europe, Asia

“It is no secret that Apple is making more money on Bing existing than Bing does,’’ Mikhail Parakhin, Microsoft’s chief of advertising and web services, said in U.S. District Court in Washington. Parakhin was describing Microsoft’s years of futility trying to supplant Google on Apple devices. The U.S. Department of Justice accuses Google of using similar agreements to lock out rival search engines such as Bing and Yahoo, stifling innovation. Asked by U.S. District Judge Amit Mehta whether a search engine could be built solely off machine learning, he replied: "We’ve seen companies try. One option would be to bar the Mountain View, California-based company from paying Apple and others to make Google the default search engine.

Persons: Apple, Microsoft’s Bing, Bing, ’, Mikhail Parakhin, Parakhin, Ken Smurzynski, Smurzynski, Satya Nadella, Nadella, Judge Amit Mehta, Mehta, Michael Liedtke Organizations: WASHINGTON, Google, Microsoft, Apple, U.S . Department of Justice, Bing, Yahoo, U.S, AP Locations: U.S, Washington, , California

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