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(Bloomberg) — When Broadcom Inc. reported slower sales growth than some of its peers on Thursday, Chief Executive Officer Hock Tan gave a surprising reason: It was on purpose. Even with demand for its chips surging, the company is tightly controlling which orders it fills, he said on a conference call Thursday following Broadcom’s third-quarter report. The idea is to sacrifice some current sales to avoid creating a glut in the future. “We can show bigger numbers, but that means we will… Source link

Stock futures were in a holding pattern Thursday evening before the release of the Labor Department’s August jobs report, which will offer the latest look at the state of the U.S. labor market recovery. Contracts on the S&P 500 hugged the flat line after the index set a record intraday and closing high during Thursday’s regular trading day. The Nasdaq had also set a record high, while the Dow ended a three-session losing streak to close in the green. Investors are anxiously awaiting the Source link

U.S. House Minority Leader Kevin McCarthy (R-CA) announces the withdrawal of his nominees to serve on the special committee probing the Jan. 6 attack on the Capitol, during a news conference on Capitol Hill in Washington, U.S., July 21, 2021. REUTERS/Elizabeth Frantz Republicans will cut your taxes and keep them low. But there’s a price: You have to side with the Party of Trump in political battles, even if it might mean breaking the law. This latest twist in the GOP’s self-preservation… Source link

Despite assurances of likely electoral victory, the Russian censorship office has sent takedown requests to Facebook, Instagram, Twitter, YouTube and TikTok over allegedly extremist and illegal content. Chinese-owned TikTok removed large amounts of anti-government content, winning praise from Russian government officials, Bloomberg News reported in April. The company and its parent, ByteDance, did not respond to requests for comment. Source link

Burger King (QSR) is rolling out its app-based loyalty program nationwide, expanding its digital presence as the industry leans in on COVID-19 dining trends that have successfully lured in customers. On Thursday, the fast food giant announced that its “Royal Perks” will launch in two-thirds of restaurants by September. Initially, Burger King tested the program in a 3 market pilot in Los Angeles, Miami and the New York Metro area that began in February. In a function of how digital is playing a… Source link

The White House is pondering whether or not to take the keys to the U.S. economy away from Federal Reserve Chairman Jerome Powell, with the decision likely boiling down to politics. Powell’s term as Fed chairman expires in February of next year, meaning President Joe Biden would have to decide on Powell’s fate relatively soon in order to give the Senate enough time to proceed with the confirmation process. But calls within the Democratic party are emerging to boot Powell. Politico reported… Source link

Walmart (WMT), the nation’s largest private employer, is raising wages for 565,000 of its nearly 1.2 million store associates, marking the retailer’s third wage hike for hourly associates in the last year. “Effective Sept. 25, associates in the Frontend, Food & Consumable and General Merchandise work groups will receive at least a $1 an hour raise. That means a raise for more than 565,000 store associates. It’s our third wage investment in store associates over the past year,” U.S…. Source link

The “AMC apes” were quick to shred the downgrade of their favorite company on Twitter from Macquarie analyst Chad Beynon on Wednesday, a move that wiped away 7.3% from the stock price.  A day later, Beynon is standing by his call because, well, the fundamentals warrant a more bearish stance.  “It has been a pretty difficult time [to cover AMC],” Beynon said Thursday on Yahoo Finance Live. “The AMC story is really momentum and technically driven, and a lot of the leaders of this [AMC]… Source link

MOSCOW—Russia’s state censor threatened to fine Apple Inc. and Google and accuse them of interfering in elections if they don’t remove an app developed by supporters of jailed opposition leader Alexei Navalny, in what critics say is the latest attempt to stifle criticism ahead of a parliamentary vote next month. The communications regulator Roskomnadzor said Thursday the app enabled Mr. Navalny’s supporters to continue their campaigns after his Anti-Corruption… Source link