Money

iPhone Sales Are Slow. But Apple Just Set a Single-Day Spending Record in the App Store

Apple might have spooked investors Wednesday with news that it was revising its guidance amid poor iPhone sales, but it’s taking steps to demonstrate that other parts of the company are doing just fine. Apple announced Thursday that app store spending during the holiday 2018 period topped $1.22 billion. And New Year’s Day set a …

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Democrats Elect Nancy Pelosi Speaker of the House

Nancy Pelosi was elected speaker of the House of Representatives as a Democratic majority took control of the chamber, ending one-party control in Washington. The California Democrat, the only woman to hold the speakership, won the partisan election with 220 Democratic votes as most Republicans backed Representative Kevin McCarthy. Pelosi will preside over a House …

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Hilton CEO Predicts 2019 Will Be “A Reasonably Good Year” for U.S. Economy

Chris Nassetta likes to describe himself as an optimist. And so, despite the gloomy forecasts for the economy and the global markets, the CEO of Hilton Worldwide Holdings (HLT) is still hopeful. “I think 2019 is going to be a reasonably good year for the U.S. economy,” he tells Fortune, adding that his confidence is …

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Trump Comments Provoke Shock and Outrage in Israel and India

President Donald Trump managed to elicit outrage in both Israel and India through his wide-ranging set of foreign policy assertions about Syria and Afghanistan. At a cabinet meeting on Wednesday, Trump addressed his planned withdrawal of U.S. troops from Syria, which he abruptly announced a couple weeks back. He also expressed his displeasure at the …

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Blake Nordstrom, Tesla Shares, Another Bad Day: CEO Daily for January 3, 2019

Good morning. Yesterday’s CEO Daily pointed to signs that a recession may be looming in 2019. But one man who doesn’t see it is Hilton CEO Chris Nassetta, who sat down recently with Fortune‘s Susie Gharib. “I think 2019 is going to be a reasonably good year for the U.S. economy,” he told her. “When …

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The EU Can’t Agree on a Digital Tax — but Silicon Valley’s Still Going to Pay

Facebook, Amazon, Apple and Alphabet need to be prepared to pony up. European Union leaders were unable to come to an agreement for how to tax digital businesses last year, so now individual member states are pushing forward with their own digital taxes. The EU has long been frustrated by the lack of unification of …

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Senate GOP Adds 2 Women to Powerful Judiciary Committee, Report Says

In the still-roiled wake of confirmation hearings for Supreme Court Justice Brett Kavanaugh, Senate GOP leadership has added two Republican women to its Judiciary Committee, Politico reports. With four female Democratic senators already serving, the 20-member committee ratios will be 14-6 men to women, and 11-9 Republican to Democrat. The GOP retained and advanced its …

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Blake Nordstrom, Co-President of Luxury Department Store Chain, Is Dead at 58

Blake Nordstrom, the co-president of luxury department store chain Nordstrom and a fourth-generation leader in his family’s namesake company, died in Seattle on Wednesday, Jan. 2. He was being treated for cancer. Nordstrom was 58 years old. The company confirmed Nordstrom’s death on Wednesday. In December, Nordstrom disclosed his lymphoma diagnosis to The Seattle Times …

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