Google will need to make a number of changes to its search results for China if it wants to get back into the country, but it still faces obstacles. According to The Wall Street Journal:
Google’s development of a censor-friendly mobile search app sent shares of China’s dominant search engine plunging, but analysts cautioned Google still faces hurdles in regaining entry to the country after a tense departure eight years ago.
Trade friction with the U.S. is one obstacle. The U.S. and China have so far both imposed tit-for-tat tariffs, but if the Trump administration dramatically expands the tariffs, as it has threatened, China can’t keep pace because it imports fewer goods from the U.S.
Warren Buffett has made a huge profit on his investment in Apple Inc. (NASDAQ: AAPL). According to The Wall Street Journal:
Apple Inc.’s rise above $1 trillion in stock-market value has enriched billionaires and everyday investors.
One of the biggest winners: Warren Buffett. His Berkshire Hathaway Inc. is the tech giant’s second largest shareholder with a roughly 5% stake.
CBS Corp. (NYSE: CBS) CEO Les Moonves participated in the company’s earnings call but took no questions about sexual harassment charges. According to The New York Times:
For Leslie Moonves, the chief executive of the CBS Corporation, it was back to business as usual.
With characteristic verve, Mr. Moonves spoke to Wall Street analysts on Thursday about the company’s second-quarter financial results, predicting the network would end the season in first place for the 11th year in a row.
China is no longer the world’s number two stock market. According to Bloomberg:
China just lost its ranking as the world’s number two stock market.
After a Thursday slump, Chinese equities were worth $6.09 trillion, according to data compiled by Bloomberg. That compares with $6.17 trillion in Japan. The U.S. has the world’s largest stock market at just over $31 trillion.
MoviePass made the argument that its faltering business is still viable. According to CNNMoney:
MoviePass’ stock price has fallen off a cliff. The company couldn’t afford to pay for movie tickets last week. And management keeps changing the service’s terms and price.
But everything is cool, and MoviePass isn’t going anywhere — according to MoviePass.
“To paraphrase Mark Twain: Talk of our demise is greatly exaggerated,” MoviePass said in a press release Thursday.
Amazon.com Inc. (NASDAQ: AMZN) has figured out another way to distribute its Prime video service. According to Fortune:
Comcast and Amazon said Thursday they have formed a partnership to bring Amazon’s Prime Video service onto Comcast’s Xfinity X1 set-top box, the latest uneasy alliance between the cable industry and online-video providers.
The Amazon Prime Video app will arrive on X1 “later this year,” the companies said, without offering a more specific date. Once that happens, Xfinity customers will have easier access on their TV sets to Amazon’s original shows like The Marvelous Mrs. Maisel and Goliath and that Jeff Bezos favorite, The Expanse.