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AP Top Business News at 11:46 p.m. EDT

Posted: Jul 17, 2019 / 12:34 AM EDT / Updated: Jul 18, 2019 / 01:22 AM EDT

With Big Tech’s dominance under scrutiny, EU probes Amazon

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Trump calls on Federal Reserve to cut interest rates

by MARTIN CRUTSINGER, Associated Press / Aug 19, 2019

WASHINGTON (AP) — President Donald Trump is calling on the Federal Reserve to cut interest rates by at least a full percentage point "over a fairly short period of time," saying that such an action would make the U.S. economy even better and would also "greatly and quickly" enhance the global economy.

In two tweets Monday, Trump kept up his pressure on the Fed and its chairman Jerome Powell, saying the U.S. economy was strong "despite the horrendous lack of vision by Jay Powell and the Fed."

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Jerome Powell

Technology companies drive a broad rally on Wall Street

by ALEX VEIGA, Associated Press / Aug 19, 2019

Tech companies pushed stocks broadly higher on Wall Street Monday afternoon as the market added to solid gains from a rally late last week.

The surge in technology stocks followed a decision by the U.S. to give Chinese telecom giant Huawei another 90 days to buy equipment from American suppliers. Chipmakers Nvidia rose 6.4%, Qualcomm added 2.9% and Micron Technology gained 3.9%.

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John Romolo, George Ettinger

Top US CEOs rethink the meaning of shareholder value

by MICHELLE CHAPMAN, Associated Press / Aug 19, 2019

The "shareholder comes first" has for years been the mantra of the Business Roundtable, a group that represents the most powerful CEOs in America and their thinking.

A new principles on the role of a corporation released Monday implies a foundational shift, putting shareholders on more equal footing with others that have an interest in a corporation to some degree — a group that includes workers, suppliers, customers and, essentially, society at large.

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Jamie Dimon

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