The Walt Disney Company says it's sold its 80% stake in the YES (Yankee Entertainment and Sports) Network for a deal valued at $3.47 billion.
Why it matters: The YES Network is considered one of the most valuable and most-watched regional sports networks. Its sale will boost Sinclair's growing foothold in regional sports and will give Amazon an entryway into local sports broadcast.
The Long-Term Stock Exchange has raised $50 million in Series B funding led by Founders Fund, with new investors joining existing ones like Andreessen Horowitz, Obvious Ventures, and Initialized Capital.
Why it matters: Silicon Valley's big tech "startups" have increasingly delayed going public, in part because of the pressures of quarterly performance they must explain to stockholders. The LTSE, a brainchild of "Lean Startup" author Eric Ries, seeks to build a stock exchange without these traditional short-term pressures.
Uber stock spent part of this week at all-time lows as it's dealing with continued driver strife, and well-funded rivals are nipping at its heels. Dan digs into the past, present and future of Uber with New York Times reporter Mike Isaac, whose new book on the company comes out on Tuesday.
Even as businesses continue to protest the growing U.S.-China trade war, the tariffs are already causing companies in both countries to rethink how and where they do business.
Why it matters: For all their differences, the U.S. and Chinese tech industries remain very interdependent — each country contributes a great deal of business to the other's economy.
Stocks may be the safe asset now. With U.S. Treasury yields in a free fall and the corresponding decrease in U.S. bank savings and money market rates, the S&P 500 dividend yield now pays more than both the 30-year U.S. Treasury bond and the average online savings account, data show.
The result: Investors get a better automatic return holding stocks than they do putting money into historically less risky assets.
MSNBC host Lawrence O'Donnell apologized on his "Last Word" show Wednesday night as he retracted an unverified report that directly tied President Trump's finances to Russia, which aired the previous night.
President Trump publicly turned against Fox News on Wednesday, tweeting that the conservative-leaning cable network "isn't working for us anymore" and that "[w]e have to start looking for a new News Outlet."
Be smart: The words "us" and "we" presumably refer to the most loyal supporters that make up Trump's base, whom the president hopes will help him pressure Fox into elevating pro-Trump coverage leading up to the 2020 election.
There had been debate among economists and fund managers about the importance of previous yield curve inversions, but Tuesday’s market action provided an unambiguous signal that investors are expecting a recession.
Driving the news: The U.S. Treasury yield curve completely inverted Tuesday, with 1-, 2- and 3-month Treasury bills all paying higher interest rates than 30-year Treasury bonds.
