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U.S. markets news

Why Airbnb Will Probably Win Legal Fight Against San Francisco
San Francisco has picked a fight with Airbnb that it probably can't win. On Monday, the home-rental business filed a lawsuit against its hometown, saying that San Francisco's attempt to get Airbnb to help enforce its housing law is illegal.
Airbnb Sues San Francisco Over a Law It Had Helped Pass  New York Times
Airbnb challenges San Francisco over rental law  BBC News
Los Angeles Times  
First-Quarter Growth Revised Upward but Still Shows Slowdown
Shoppers in Queens, N.Y. Retail sales and home sales rose in April and May, two hopeful signs for the economy. Credit Mark Kauzlarich/Bloomberg.
US GDP Growth in First Quarter Revised Up to 1.1% Rate  Wall Street Journal
First Quarter U.S. Economic Growth Exceeds Previous Estimate  Bloomberg
Ikea Recalls Millions Of Chests, Dressers Because Of Tip-Over Hazard
Ikea has announced a voluntary recall of 29 million chests and drawers, after three children died in the past two years because of dresser tip-over accidents.
What the Ikea Recall Means to Consumers  ABC News
IKEA recalls 29 million MALM and other models of chests, dressers after six ...  Columbus Dispatch
Richard Branson Calls For Re-Vote, Questions Intelligence Of UK Voters
Sir Richard Branson listens to a speaker at the Global Commission on Drug Policy in New York, in this September 9, 2014 file photo.
Four Pitch Tips From Richard Branson, Sara Blakely And Tyra Banks  Forbes
UPDATE 1-Branson says Virgin Group loses third of its value after Brexit  Reuters
Layoffs will make Dow stronger, business leaders say, promise help for workers
An aerial view of Dow Chemical Co. in Midland, April 4, 2010. Jeff Schrier | file photo. Jeff Schrier | jschrier1@mlive.
Dow Chemical to Cut 2500 Jobs in Aftermath of Corning Deal  Bloomberg
Dow Chemical To Cut 2500 Jobs Ahead Of DuPont Merger  Forbes
Lending Club plans layoffs, discloses loans to former CEO and family members
Lending Club plans to lay off 179 workers, or about 12% of its workforce, its latest response to a still-unfolding crisis that has cooled investors' interest in the firm's loans and pushed the company to dismiss its founding chief executive.
Lending Club alleges ex-CEO took loans to boost volumes  Reuters
Lending Club says improper loans extended to ex-CEO's family  USA TODAY
Seattle-area home prices surge to new high
Seattle home prices rose faster than any major city other than Portland in April, the monthly S&P/Case-Shiller Index showed. (Greg Gilbert / The Seattle Times).
Home Prices Setting New Highs In More Cities, Says S&P/Case-Shiller  Forbes
With the supply of homes slight, US prices surged in April  Washington Post
Hong Kong Stocks Pare Loss on Bets Policy Makers to Calm Markets
Hong Kong stocks pared declines amid signs that global policy makers are taking steps to limit the fallout from Britain's vote to leave the European Union.
China, Hong Kong shares under pressure as Brexit reverberates across markets  Reuters
Asian Stocks Start to Shake off 'Brexit' Worries  ABC News
Cisco to acquire API-based app security startup CloudLock for $293M
Twilio isn't the only company banking on API-based services as the way forward for enterprises. Today, Cisco announced it plans to pay $293 million in a mix of cash and equity to acquire CloudLock, a cloud-based security provider that uses APIs to let ...
Cisco To Buy Cloud Security Company CloudLock, Giving Partners An ...  CRN
Cisco reinforces cloud security technology with $293M CloudLock buy  Network World
Supreme Court to Hear Case on ATM Fees
WASHINGTON—The Supreme Court on Tuesday agreed to consider an appeal by Visa Inc., MasterCard Inc. and several leading banks that are challenging lawsuits alleging they conspired to set anticompetitive ATM fees.
ATM-Fee and Housing-Bias Cases Bolster U.S. Supreme Court Agenda  Bloomberg
High court will hear appeal over high ATM fees  Tulsa World