Business News at a Glance
Posted June 17, 2018 9:04 p.m. EDT
Investors Fret About a Trade War, but They Aren’t Fleeing the Stock Market
Wall Street investors have not run for the exits as President Donald Trump has stepped up trade brawls with China, Canada and the European Union. On Friday, when the Trump administration and China announced tariffs on $50 billion of goods from each country, the Standard & Poor’s 500 index finished barely lower. Why have the markets held up when the prospect of a trade war unnerves many on Wall Street? The U.S. economy appears to be a picture of health and corporate earnings are surging. That seems to have investors betting that the collateral damage will be manageable.
WHO to Recognize Video Game Addiction as a Disorder
Video games work hard to hook players. Designers use predictive algorithms and principles of behavioral economics to keep fans engaged. When new games are reviewed, the most flattering accolade might be “I can’t put it down.” Now, the World Health Organization is saying players can actually become addicted. On Monday, “gaming disorder” will appear in a new draft of the organization’s International Classification of Diseases. The designation may help legitimize worries about gamers who neglect other parts of their lives. It could also make gamers more willing to seek treatment, encourage more therapists to provide it and increase the chances that insurance companies would cover it.
Video Game Live Streaming Is Booming, and Amazon Is in the Lead
Late on a recent night, more than 600,000 people watched one of the most popular video game players, Tyler Blevins, engage in “Fortnite Battle Royale” with a celebrity guest: Drake. Blevins, who plays under the name Ninja, streams his near-daily video game sessions live on Twitch, a website acquired by Amazon in 2014 for $1.1 billion. The audience peaked at roughly 667,000 viewers, a ratings record (since broken) for a nontournament live stream. The popularity of the March 14 Drake-Ninja summit illustrated how dominant Amazon remains in the game-streaming world, despite intense competition from a roster of tech giants: Google, Microsoft, Facebook and Twitter.
Starbucks’ CEO Isn’t Leaving. Only Howard Schultz Is.
Kevin Johnson has been chief executive of Starbucks for more than a year now, and for much of Johnson’s tenure, he has been overshadowed by Howard Schultz, the company’s former chief executive and departing executive chairman. After working in Schultz’s shadow Johnson will be on his own. Starbucks recently announced that Schultz will leave at the end of the month. Over three decades at Starbucks, Schultz turned the coffee company into a progressive force, giving workers above-average benefits, and weighing in on issues like gun violence, gay marriage and race relations. Johnson said that wouldn’t change with Schultz gone.
Denver Post Defectors and Blockchain Startup Team Up in News Outlet
They left The Denver Post amid newsroom layoffs and interference in the editorial process by the newspaper’s hedge-fund owners, Alden Global Capital. And now those reporters and editors are creating their own news outlet, The Colorado Sun. They will be partnering with the Civil Media Co., a New York startup that aims to use blockchain technology and crypto economics to start 1,000 publications nationwide by the end of the year. "It is absolutely exciting,” said Larry Ryckman, who will serve as editor of The Colorado Sun. The editor has assembled a team of former Post employees, including five reporters and two senior editors.