American Airlines Group Inc. (NASDAQ: AAL) management seems very likely to reject the offer by Qatar Airways to buy 10% of the U.S. carrier.
Electronics firm Foxconn, a major supplier to Apple Inc. (NASDAQ: AAPL), says it may spend $10 billion in the United States to, among other things, build manufacturing facilities. The company is in conversations with officials in Illinois, Indiana, Michigan, Ohio, Pennsylvania, Texas and Wisconsin. Foxconn could build as many as six locations.
China’s May crude oil imports were the second highest on record and happen just as global prices have taken a sharp tumble. According to MarketWatch:
In May, China imported 37.2 million tons of crude, marking a 15.4% jump from the same period a year ago, according to data from China’s General Administration of Customs on Friday. On an average daily basis, China shipped in 8.8 million barrels a day last month. The total volume was modestly lower than March when crude imports set a record, reaching 38.95 million tons, or 9.2 million barrels a day.
MarketWatch also pointed out that crude production within China has fallen.
Tesla Inc. (NASDAQ: TSLA) may build a plant in China to fulfill demand in the world’s largest car market. Industry insiders have pointed out that the electric car company would need a local partner.
Federal Reserve “stress tests” meant to measure the stability of large banks were recently given to 34 financial firms. All passed the tests, which is viewed as a sign that they no longer use dangerous leverage as part of their core operations.
Susan Wojcicki, the CEO of YouTube, announced that 1.5 billion people log in to visit the huge video site every month. She wrote, in a blog post, that the Alphabet Inc. (NASDAQ: GOOGL) owned property had made other progress:
We are really excited about YouTube TV and pleased that it will be expanding to ten more markets in just a couple of weeks, including: Dallas-Fort Worth, Washington, D.C., Houston, Atlanta, Phoenix, Detroit, Minneapolis-St. Paul, Miami-Fort Lauderdale, Orlando-Daytona Beach-Melbourne and Charlotte. YouTube TV was built for the YouTube generation that loves live TV but wants it delivered in a way that suits their mobile and flexible lifestyles. In fact, we see more Millennials using YouTube TV than any other generational group. Now – with this expansion – millions more people will be able to stream their favorite live sports and must-see shows from top broadcast and cable networks
She also said that YouTube currently has 37 original programs under a product line called YouTube Red.