Business And Finance

China Slumps, Pinterest Drops, Bitcoin Plunges: CEO Each day for Could 17, 2019

China Hunch

Say howdy to a different glum day on the markets, courtesy of the U.S.-China commerce warfare. China doesn’t appear eager to renew commerce talks as a result of American “insincerity” and tariff threats, and Beijing is indicating it should prop up the home financial system with stimulus measures. The Dangle Seng is down 1.2% and the Shanghai Composite 2.5%, the Stoxx Europe 600 is down zero.6% and U.S. futures look in step with Europe. Carry on the weekend! Bloomberg

Pinterest Drops

Wall Avenue could have preferred Pinterest’s Q1 gross sales, which barely beat estimates, however not a lot its full-year outlook. After the digital scrapbooking firm launched its first post-IPO outcomes, its shares dropped as a lot as 19%. Its progress appears to be slowing, and profitability will not be in sight but. Fortune

Google Antitrust

Google is dealing with a brand new antitrust inquiry, this time in Italy, the place it stands accused of utilizing its Android market dominance to stymie a charging-station-finding app from the vitality large Enel. Google allegedly refused to combine Enel’s app into its Android Auto system, which might enable it for use on the dashboard whereas driving. Guess what you should utilize to seek out charging stations whereas driving: Google Maps. CNBC

Bitcoin Plunge

Bitcoin has been on a tear just lately, however—shock!—the social gathering is over. Having peeked over the $eight,000 threshold yesterday, the worth of probably the most well-known cryptocurrency dropped as little as $7,180, per Coinmarketcap knowledge (Coindesk studies there was even a commerce at $6,600.) On the time of writing, one bitcoin is buying and selling at $7,285. Coindesk

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