6 Most Important Business Stories Today

By Douglas A. McIntyre Updated Mar 13, 3:19PM EDT · Published Aug 24, 5:13AM EDT

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6 Most Important Business Stories Today — © Thinkstock

It appears that the effort by Chinese truck manufacturer Great Wall to buy Jeep from Fiat Chrysler Automobiles N.V. (NYSE: FCAU) has faltered. Fiat Chrysler has not indicated that it has any real interest in the deal.

A new home price study shows that several geographically diverse cities are targets for home buyers in the third quarter:

ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its Q2 2017 Pre-Mover Housing Index, which shows that the markets with the highest pre-mover indices during the second quarter — predictive of strong sales activity in the third quarter — were Colorado Springs, Colorado; Chicago, Illinois; Washington, D.C.; Reno, Nevada; and Lexington, Kentucky.

Uber had a lower loss and rising revenue last quarter. According to Bloomberg:

Even as Uber Technologies Inc.’s investors mounted a revolt against the then-chief executive officer over a string of self-inflicted scandals, the ride-hailing company’s financial performance continued to improve in the second quarter of the year, based on financial results provided by the company.

Uber generated $1.75 billion in adjusted net revenue in the second quarter of this year, up 17 percent from the prior quarter. Uber narrowed losses by 9 percent to $645 million.

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Oil prices could be temporarily affected as a potential hurricane moves closer to Texas and drilling rigs in the Gulf of Mexico. A report from Weather.com says:

Tropical Storm Harvey is expected to strengthen into a hurricane before bringing a extremely dangerous combination of rainfall and storm-surge flooding to areas near the Texas and Louisiana coasts into the weekend or early next week.

The NHC says the center of Harvey is located about 400 miles southeast of Port Mansfield, Texas, but has now picked up some forward speed, moving northwest at 5 to 10 mph.

The single winning $700 million Powerball jackpot number was sold in Massachusetts. The lottery prize was the second largest in U.S. history.

Exxon Mobil Corp. (NYSE: XOM) mislead the public in its comments about global warming. A study published by Harvard researchers concluded:

Available documents show a discrepancy between what ExxonMobil’s scientists and executives discussed about climate change privately and in academic circles and what it presented to the general public. The company’s peer-reviewed, non-peer-reviewed, and internal communications consistently tracked evolving climate science: broadly acknowledging that AGW is real, human-caused, serious, and solvable, while identifying reasonable uncertainties that most climate scientists readily acknowledged at that time. ExxonMobil’s advertorials in the NYT overwhelmingly emphasized only the uncertainties, promoting a narrative inconsistent with the views of most climate scientists, including ExxonMobil’s own

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.