Photo: Samsung

Samsung Electronics warned on Tuesday that its first quarter profits will fall short of expectations amid weakness in its chips and display businesses.

Why it matters: The shortfall is in Samsung's component business, indicating that the issue extends well beyond Samsung's own consumer electronics products and suggests sluggishness throughout the industry.

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Updated 36 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 18,178,736 — Total deaths: 691,111 — Total recoveries — 10,835,789Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 4,698,335 — Total deaths: 155,331 — Total recoveries: 1,468,689 — Total tests: 57,543,852Map.
  3. Politics: White House will require staff to undergo randomized coronavirus testing — Pelosi says Birx "enabled" Trump on misinformation.
  4. Sports: 13 members of St. Louis Cardinals test positive, prompting MLB to cancel Tigers series — Former FDA chief says MLB outbreaks should be warning sign for schools.
  5. 1 🎥 thing: "Tenet" may be the first major film to get a global pandemic release.

Twitter faces FTC fine of up to $250 million over alleged privacy violations

Photo: Rafael Henrique/SOPA Images/LightRocket

The Federal Trade Commission has accused Twitter of using phone numbers and emails from its users to make targeted ads between 2013 and 2019, Twitter said in an SEC filing published Monday.

Why it matters: Twitter estimates that the FTC's draft complaint, which was sent a few days after its Q2 earnings report, could cost the company between $150 million and $250 million. The complaint is unrelated to the recent Twitter hack involving a bitcoin scam.

2 hours ago - World

Hollywood's international game of chicken

Illustration: Eniola Odetunde/Axios

If all goes to plan, Christopher Nolan's thrice-delayed "Tenet" will be the first blockbuster to receive a proper worldwide theatrical release amid the coronavirus pandemic at the end of this month.

Why it matters: It'll be playing a $200 million game of chicken, hoping to prove that people across the globe are still willing to trek to theaters to see a splashy new movie.