Foxconn, one of the largest electronics manufacturers, unveiled plans to build a $10 billion factory in southeastern Wisconsin, delivering a much-needed boost for President Trump and Gov. Scott Walker (R). The new facility, which will make flatscreen displays, will be in the congressional district of House Speaker Paul D. Ryan (R-Wis.), in one of the critical battleground states that propelled Trump to victory in the November election. Hewlett Packard Enterprise chief
executive Meg Whitman, through three tweets, knocked down speculation that the former eBay chief executive, Disney executive and gubernatorial candidate in California would become the next chief executive of Uber, the embattled ride-sharing company that is seeking a new leader after controversies that included allegations of sexual harassment and inappropriate behavior. Amazon.com founder and Washington Post owner Jeffrey P. Bezos briefly became the richest person in the world, displacing Microsoft founder Bill Gates by shooting past his $90.1 billion fortune on Amazon.com’s rising share price.
Atlantic Media owner David Bradley announced he will sell the anchor of his sprawling Washingtonbased media empire: its iconic, 160year-old monthly Atlantic magazine. Laurene Powell Jobs, the widow of Apple founder Steve Jobs, is buying a majority, controlling stake, with a path toward full ownership. Terms were not disclosed. ComScore, the Reston, Va., company that has long dominated the business of measuring Internet audiences, is suddenly facing a challenge from one of its largest shareholders. The activist hedge fund Starboard Value has filed suit against the company in an attempt to force comScore to hold its first annual meeting in two years. ComScore has held off on public meetings as it sorts through an accounting mess and a shake-up in management. But with its stock delisted and its share price lagging, some analysts speculate that Starboard wants to pressure comScore to sell the company or at least be more transparent in its activities.
The U.S. economy rebounded strongly between April and June, government data showed Friday, as businesses invested more and consumers shelled out for furniture, washing machines and other goods. The country’s gross domestic product, a broad measure of economic activity, grew at an annualized pace of 2.6 percent in the second quarter of this year, the Commerce Department said.
President Trump and congressional Republicans experienced a dramatic failure Friday in their bid to advance a scaled-back plan to overhaul the Affordable Care Act, raising the prospect of emergency bipartisan talks to shore up the existing healthcare system. But in the wake of the vote, it remained unclear how swiftly lawmakers would move to shore up the federal health-care exchange and whether the White House would join that effort. Equally uncertain was whether Republicans and Democrats, who hold starkly contrasting views on health care, would be willing or able to put aside their differences to collaborate at a moment of sharp polarization. Republicans faced a moment of reckoning after failing to fulfill their signature promise of the past seven years. The defeat threatened to cause deeper divisions in a party that has been unable to show a major legislative accomplishment this year despite controlling Congress and the White House. President Trump announced on Twitter that he will ban transgender people from serving in the military in any capacity, an abrupt reversal of a decision by President Barack Obama’s administration to allow them to serve openly and a potential end to the careers of thousands of active-duty troops.