iPhone assembler Foxconn says it has the capacity to manufacture Apple products outside of China if U.S.-China trade relations escalate, Bloomberg reports.
Why it matters, per Axios' Ina Fried: Nearly all iPhones are currently made in China, presenting a huge risk for Apple. Having a solid plan B is a good thing given the unpredictability of U.S.-China trade relations.
What he's saying: "I think the cold, hard reality is, even though almost none of my members were enthusiastic about the prospect of tariffs, you have to give the president credit — it worked," he said, Politico reports.
Private equity is again under fire for bankrupting a longtime retailer and stiffing its employees.
What's new: At issue this time is Shopko, a Wisconsin-based discount chain that was acquired by Sun Capital Partners in 2005 for around $1.1 billion. It filed for Chapter 11 bankruptcy protection in January and later opted to liquidate after failing to find a buyer.
Weeks after downplaying the threat that China poses to the U.S. on the global stage, 2020 presidential candidate Joe Biden is calling for action to combat China's outpacing of the U.S. in emerging technologies, infrastructure and global influence.
Flashback: On May 1, Biden said in a speech, "China is going to eat our lunch? Come on, man — They can't even figure out how to deal with the fact that they have this great division between the China Sea and the mountains in the West. They can't figure out how they're going to deal with the corruption that exists within the system. They're not bad folks, folks … They're not competition for us."
NBC announced Tuesday the group of moderators for the first round of the 2020 Democratic presidential primary debates, which will feature 10 candidates each night on June 26 and 27 in Miami.
Details: The list includes MSNBC's Rachel Maddow, "NBC Nightly News" anchor Lester Holt, "Meet the Press" moderator Chuck Todd, "Today" co-anchor Savannah Guthrie and "Noticias Telemundo" anchor José Diaz-Balart.
Digiday Media, the eleven-year old digital media trade publication, is adding a third brand called "Modern Retail," which will exist across all revenue streams, including advertising, events, newsletters, digital and subscriptions.
Why it matters: Digiday Media is good example of how a digital media company can scale while remaining niche. "You can be small but be big by staying focused," says founder and CEO Nick Friese. "We've been a profitable media company over the last seven years," says Friese.
The news and information that U.S. adults actually read doesn't always match up with the topics they claim they want covered more, according to data from traffic analytics company Parse.ly and an Axios/SurveyMonkey poll.
Data: Axios/SurveyMonkey poll, Parse.ly; Note: Media, celebrity, local news and transportation topics were not tracked by both data sets and were omitted from analysis; Chart: Andrew Witherspoon/Axios
The big picture: Entertainment and emotionally charged topics over-index on how much they are read vs. readers' stated coverage preferences. More academic, less personality-driven issues end up getting read less.
President Trump threatened Monday that China would face an additional $300 billion in tariffs if Chinese President Xi Jinping fails to appear at the G20 summit in Osaka, Japan later this month during a call with CNBC's "Squawk Box."
The big picture: Trump said he would be "surprised" if Xi didn't attend, adding that the two have a meeting scheduled during the summit. He said, "I have a great relationship with him. He's an incredible guy, great man. He's very strong and very smart but he's for China and I am for the United States."
