Minutes after the close of Wednesday's debate, the Republican National Committee chairman leveled extraordinary criticism at the debate's host network, echoing his candidates on stage.
"I'm disappointed in the moderators. I’m disappointed in CNBC. … It was one 'gotcha' question, one personal question after another," Priebus said, in video aired afterward on CNN.
"I’m proud of our candidates for pretty much sticking together. I'm very disappointed in the moderators, and I'm very disappointed in CNBC."
Later, in a statement, he added: "CNBC should be ashamed of how this debate was handled."
The host network of the third Republican presidential debate quickly became the punching bag for Republican candidates and the national Republican Party, who both claimed the network and its moderators had unfairly treated the candidates.
A network spokesman defended its debate. "People who want to be President of the United States should be able to answer tough questions."
Real-estate magnate Donald Trump, the GOP front-runner, began the debate slamming CNBC's supposedly unfair question about his campaign's seriousness. He also ended the debate by ripping CNBC in his closing statement. Trump noted that he had successfully pushed the network into a two-hour debate timeframe, which he said was a sign of his negotiating talent.
"These folks, CNBC, they had it down to three, three and a half hours," he said. "I went out and said it's ridiculous. … In about two minutes, I renegotiated down to two hours so we could get the hell out of here. Not bad. And I will do that with the country: We will make America great again."
After the debate, Trump went to CNBC for an interview, where he said he had a good time but complained that the Democrats were tossed softballs in comparison during a CNN debate earlier in the month.
Former Florida Gov. Jeb Bush's (R) campaign manager reportedly confronted a CNBC producer about the debate. And Sen. Rand Paul's (R-Kentucky) campaign started fundraising off of the allegedly unfair debate format before the event was even over.
"Rand warned you the media would try and black out his message," Paul's campaign wrote to supporters. "And they are putting their plan into action. In the first 60 minutes of tonight's debate, he was given only 2 minutes to speak!"
Sen. Ted Cruz (R-Texas), meanwhile, delivered perhaps the biggest applause line of the night when he slammed CNBC's moderators for asking "cage match" questions.
CNBC moderator Carl Quintanilla asked Cruz about his hard-line voting record in the US Senate, questioning him about whether he was a problem-solver. But Cruz pivoted, pointing immediately to what he deemed unfair questions during the first hour of the debate.
"Let me say something at the outset: The question that have been asked so far in this debate illustrate why the American people don't trust the media," Cruz said.
"This is not a cage match. And you look at the questions: 'Donald Trump, are you a comic-book villain? Ben Carson, can you do math? John Kasich, will you insult two people over here? Marco Rubio, why don't you resign? Jeb Bush, why have your numbers fallen?' How about talking about the substantive issues."
Next up was retired neurosurgeon Ben Carson, who has surged to become a front-runner along with Trump in recent weeks.
The audience booed loudly when a moderator challenged Carson over his controversial association with Mannatech, a nutritional-supplement company based in Texas. He appeared in a promotional video and spoke at two conferences hosted by the company, whose supplements have come under fire.
"That's easy to answer. I didn't have an involvement with them. Total propaganda. I did a couple speeches for them. I did speeches for other people — they were paid speeches. It is absolutely absurd to say that I had any kind of relationship with them. Do I take the product? Yes. I think it's a good product," he said.
The moderator then pointed out that Carson was on the company's webpage. Carson said he didn't give them permission to do that.
After the audience loudly booed the follow-up question, Carson simply said: "They know."
Finally, New Jersey Gov. Chris Christie (R) entered into a discussion with Quintanilla about fantasy football, and the investigation into allegations of misconduct within the two biggest daily-fantasy sports websites.
"Carl, are we really talking about getting the government involved in fantasy football? Wait a second. We have $19 trillion in debt. We have people out of work. We have ISIS and al Qaeda attacking us. And we're talking about fantasy football!" Christie exclaimed as the audience roared in approval.
Harwood then turned to climate change and asked what Christie would do to address the problem.
"First off, what we don't do is do what Hillary Clinton and John Kerry and Barack Obama want us to do, which is their solution for everything: Put more taxes on it," Christie said.
"What should we do?" Harwood interjected.
"What we should do is to be investing in all types of energy, John," Christie continued.
Harwood jumped into the conversation again to ask who should be doing the investing. Christie then turned on the moderator.
Twitter still hasn't found a way to solve its problems despite having its celebrity CEO Jack Dorsey back.
The company turned in another disappointing report about the number of users it has, and on top of that, issued a sluggish outlook. Shares of the company sank 10% after hours.
Twitter's main problem has been: People who know how to use it, love it. Everyone else doesn’t really get it.
Dorsey acknowledged the issue during Twitter's last earnings call, and promised he would try to fix it.
But on Tuesday, Twitter said it added just 3 million new core users over the past quarter, bringing the total number of monthly active core users to 307 million. If you count the number of people who use a simplified version of the service called "SMS Fast Followers," then Twitter has 320 million.
Wall Street was looking for at least 323 million users. Since taking over Twitter in July, Dorsey and his team have introduced a number of new features, but most have been minor.
On the earnings call, the update they mentioned the most was "Moments," a new tab that aggregates tweets about news stories and trending topics. "Moments represents a real fundamental shift in our thinking," Dorsey said.
The feature doesn't follow the app's normal reverse chronological timeline format. Instead, tweets are strung together based on topics and "human narrative," he said.
Twitter is also making big bets on mobile video as a way to attract new people and make money.
Video views on Twitter and its mobile video services - Periscope and Vine have surged in the past six months. Sales from the quarter actually beat expectations, climbing to $569 million, versus a forecast of $560 million. But still not enough to make investors excited.
Apple's profit soars 31% on the back of strong iPhone and Mac sales
The experts said it couldn't last, but Apple just keeps finding new ways to maintain its startup-like growth. Apple's profit jumped 31% last quarter, as customers continued to buy more expensive iPhones.
The average price that Apple customers spent on iPhones was $670 last quarter, up an impressive $67 from a year ago. The iPhone 6S Plus and iPhones with more storage have remained popular, and the costlier iGadgets mean higher profit margins.
The company sold 48 million iPhones last quarter, which was 22% more than it sold during the same period a year ago. But the money Apple made from those iPhone sales grew even more -- 36% -- over last year.
Customers were also buying Macs as Sales grew 3% last quarter to 5.7 million - an all-time record.
Even Apple's mysterious "other products" category had an outstanding quarter. Sales of those gadgets, which include iPods, Apple TVs and Apple Watches, grew 61% over last year. Apple still won't say how many of each of those product lines it sells, but something is catching on: Those gadgets brought in a collective $3 billion in sales last quarter.
Apple's services, including Apple Music, the iTunes App Store and music store, and iCloud, brought in a record $5.1 billion in sales. Yet iPads continued to be a sore spot for Apple. The company sold fewer than 10 million tablets, which was 20% fewer than it sold a year earlier.
Crucially, sales in China, which is Apple's second-largest market behind North America, grew 99% -- even as the economy continued to face struggles there. China is by far Apple's fastest growing market, and the company still believes that it will one day be its biggest.
Apple's overall sales rose 22% to $51.5 billion.
And Apple ended the quarter with a stunning $206 billion in cash. Shares of Apple (AAPL, Tech30) rose slightly after hours.
Tim Cook, Apple’s CEO expects Apple to have a very happy holiday season this quarter with a record number of iPhones sales, which will beat the 74.5 million iPhones sold during the last three months of 2014.
E-commerce giant Alibaba reported third quarter sales and earnings Tuesday that easily beats Wall Street's forecasts.
Alibaba's revenue surged 32% in the quarter from a year ago, led by an explosion in mobile use by Alibaba customers.
The company ended the quarter with 346 million mobile monthly active users, an increase of nearly 60% from last year. Mobile revenue was up almost 200%.
"This was a great quarter for Alibaba Group, with strong growth across the board and particular outperformance in mobile," said Alibaba CEO Daniel Zhang in a press release. "We are winning in mobile and remain focused on our top strategic priorities."
Alibaba also reported that sales in its small cloud computing business more than doubled in the quarter. Alibaba is trying to become a bigger player in this market, an area that has turned out to be incredibly lucrative for American rival Amazon (AMZN, Tech30).
Shares of Alibaba surged nearly 10% in premarket trading on the news. It's the latest sign that, after a rocky summer, the Chinese economy may be starting to stabilize a bit.
Alibaba (BABA, Tech30), like the rest of the Chinese stock market, has enjoyed a stunning comeback lately. Shares are up nearly 35% since hitting their lowest point ever on September 29.
The company also recently announced plans to purchase the remaining portion of Chinese online video site Youku Tudou (YOKU) that it didn't already own. Youku Tudou is often referred to as China's YouTube.
Investors have been concerned about Alibaba's valuation since its IPO more than a year ago and surged 38% on its first day of trading. Alibaba, which boasts a market value of $190 billion, is worth more than Walmart (WMT).
Alibaba's good news is also a blessing for Yahoo (YHOO, Tech30), which plans to sell the nearly 384 million shares of Alibaba that it owns before year's end.
Just last June, Uber was valued at $18.2 billion. Soon, it could be worth $70 billion - nearly quadruple its value last summer.
The company is looking to raise another $1 billion in funding, according to PrivCo, a data provider on privately-held companies. The new round will value the company between $60 billion and $70 billion.
Uber is already the most valuable privately-held company in the world. It surpassed Chinese smartphone company Xiaomi earlier this year.
As a reminder, a valuation is based on predictions about a company's potential -- so it doesn't mean Uber has $70 billion. It means investors think it's worth that much.
If and when Uber closes the new round of financing, it will be the company's eighth round of funding since launching five years ago. If it's valued at $70 billion, that would make the five-year-old startup worth more than both Ford (F) and GM (GM).
Uber operates in more than 300 cities in 63 countries. Last week, CEO Travis Kalanick said the company is still young - so don't expect it to go public anytime soon.
"Give us a few years," he said on stage at the Wall Street Journal's tech conference in Laguna Beach. "It's just a little early."
According to PrivCo, the new round will go to maintaining Uber's lead over Lyft in the U.S. and battling the competition abroad. That includes Blablacar in Europe, Ola Cabs in India, and Didi Kuaidi -- which recently formed a partnership with Lyft -- in China.
The World Health Organization is warning that processed meat like salami can cause cancer.
Love your daily hot dog or bacon sandwich? You may want to rethink that.
The World Health Organization said Monday that eating processed meat such as sausages and ham causes cancer, while unprocessed red meat may also be carcinogenic.
The WHO's cancer research unit now classifies processed meat as "carcinogenic to humans" based on evidence from hundreds of studies.
The report outlined that simply eating 50 grams of processed meat each day can increase the risk of colorectal cancer by 18%. However, the authors say the risks are relatively small to begin with.
Most processed meat contains pork or beef, but may also contain poultry. The WHO placed such products in the same category as smoking and asbestos, based on its certainty of a link with cancer, but stressed that did not mean they were equally dangerous.
Unprocessed red meat such as steak and lamb shanks is classified as "probably carcinogenic."
The WHO said the finding was important for public health since processed meat is so widely consumed. However, it said red meat still has "nutritional value."
"These results are important in enabling governments and international regulatory agencies to conduct risk assessments, in order to balance the risks and benefits of eating red meat and processed meat and to provide the best possible dietary recommendations," said Christopher Wild, head of the WHO's cancer agency, in a statement.
According to estimates cited by the WHO, about 34,000 cancer deaths per year worldwide can be attributed to diets that are high in processed meat.
However, meat industry groups slammed the WHO report as biased and misleading.
"They tortured the data to ensure a specific outcome," said Betsy Booren, vice president of scientific affairs at the North American Meat Institute.
Shares in Japan Post Holdings priced at the top of their expected range Monday, one of the final puzzle pieces in what should be the world's biggest IPO of 2015.
Japan Post said high demand allowed it to price the shares at 1,400 yen ($11.57) each. The offering is part of a complex stock market debut that will see the Japanese government also sell off the postal operator's insurance and banking subsidiaries.
The combined IPO is set to bring in roughly $12 billion. Japan Post alone raised 693 billion yen ($5.7 billion), more than First Data's (FDC) listing earlier this month.
Domestic investors will be able to buy 80% of the shares while the remaining 20% are earmarked for international investors.
The banking and insurance businesses also attracted strong demand, and were also priced at the top of their expected ranges.
Japan has been trying to privatize this behemoth for roughly a decade but extreme public resistance to the move had prevented the government going ahead.
The sale is part of a wider push by the Japanese government to privatize state-owned companies and get money pulsing through the sluggish economy. Japan has the highest level of government debt in the world.
Japan Post has a high profile among residents who would recognize the red delivery vans and motorcycles that are used across the nation for postal services.
But analysts have expressed skepticism about whether it will be able to grow. It is one of the biggest companies in the world, but has been falling down the Fortune Global 500 ranking.
ISIS is one of the best-funded militant groups in the world, but it could run into serious problems for the long-term if it doesn't keep seizing more territory.
Much of ISIS' money comes from extortion and pillaging, essentially ripping off the people and institutions in conquered territory, and while the group's tactics might bring it windfalls of cash every time it moves into a new city, funding operations requires a constant flow of cash.
“Confiscation makes up a huge part of ISIS revenue”, said J.M. Berger, a Brookings Institution fellow who co-wrote the recent book "ISIS: The State of Terror”. “Confiscation is different from taxation because it's not sustainable. There's only so much you can confiscate before you need to conquer new territories with new wealth.”
ISIS has took over places like Palmyra, an ancient city in Syria that the group conquered in May, for artifacts it can sell on the black market. The militants also bring in money from robbing banks. This nets the group hundreds of millions of dollars, but it's all one-time hits.
"Pillage is a central contributor for ISIS's wealth, and its dependence on strip-mining its holdings for revenue and equipment could be its biggest structural weakness, as this approach will create diminishing returns if ISIS is held to roughly its current geographic limits," Berger said.
While ISIS aims to take over more territory in the Middle East to grow its so-called Islamic caliphate, which was established after the group took control of Iraq's second-largest city, Mosul, in August 2014, the group is struggling to continue making significant gains as it fights government forces and rebel groups in Iraq and Syria.
Moreover, the Iraqi government has reportedly stopped paying the salaries of its employees who work in ISIS-controlled areas in an effort to prevent the militants from taking the money.
Furthermore, people are reportedly struggling to pay the taxes ISIS imposes on the residents of its territory. ISIS has reportedly raised the prices of everyday necessities like gas, water, and electricity, partly in an effort to drive people to become fighters for the group, whose salaries are higher than those of average citizens living under ISIS control.
This approach is a double-edged sword, as ISIS has seen some success with using money to lure in desperate people with few options, the group is struggling to meet some of the other financial obligations of a functioning government.
For example, ISIS has made promises to care for the poor in its caliphate, which it markets as an autonomous state, but the group largely hasn't been able to deliver.
In conclusion, ISIS will have to conquer more territories and more cities in order to keep a flowing income. If it fails to do so, its money will start to diminish as time goes by.
Google's new parent company Alphabet is off to an amazing start.
Alphabet posted a shockingly good profit and better-than-expected sales in the third quarter, sending the stock up 10% to an all-time high.
The company's sales rose 13% and profit grew a whopping 45% in the past quarter. Particularly encouraging for Alphabet is the fact that much of the growth is coming from mobile search. This was once a big question mark for Google as advertisers refused to pay the same rates for unproven mobile search ads as they did for tried-and-true desktop advertisements.
Google also called out YouTube for having an impressive past quarter.
"Our ... results show the strength of Google's business, particularly in mobile search," said Ruth Porat, Alphabet's chief financial officer, in a prepared statement. "With six products now having more than 1 billion users globally, we're excited about the opportunities ahead of Google, and across Alphabet."
Also helping Alphabet's stock: The Company announced it was buying back $5 billion worth of its own stock. Investors love when companies do that, because it raises the value of their own holdings.
Porat, a former Wall Street rock star, was brought in earlier this year to make the company more efficient and transparent. She helped lead the company's restructuring to become Alphabet, in which Google spun out its exotic projects like driverless cars and anti-aging research into separate companies. Alphabet (GOOGL, Tech30) is now the parent company of all of those smaller companies, one of which is Google.
Google officially took on its Alphabet structure on Oct. 2, the first day of Google's current fiscal quarter. That means we won't get a first glimpse at how well each of the various Alphabet entities is performing until Alphabet reports its fourth-quarter financial results in January.
YouTube will begin selling $9.99-a-month subscriptions that will allow U.S. customers to watch almost everything without ads, to download videos for viewing offline and to keep content playing on a smartphone or tablet even when using a different app.
But those widely requested features aren't all that subscribers will get. The service, called YouTube Red, offers access to highly produced original shows and movies that can't be found anywhere else. Google Play streaming music will be included too.
YouTube Red is intended to turn the enormously popular Google-owned company into a profit maker, not a money loser.
Ad revenue isn't enough to meet the enormous expenses of serving billions of videos every day — even when most videos are supplied by users for free. YouTube could generate nearly $950 million annually in new revenue if just 5% of U.S. users signed up for the subscription, UBS analysts estimate.
Red marks the beginning of "a long journey," according to YouTube.
Matthew Glotzbach, the company's vice president of product management, said, "By no means would we expect to jump to tens or hundreds of millions of paying users overnight," but there should be "strong demand" from the start.
Financial analysts who follow Alphabet Inc., Google's parent company, say YouTube could become a major profit engine. But rivals, including Facebook, Snapchat and Vimeo, are threatening its potential by stealing away both video makers and viewing time.
Growth of YouTube's net ad revenue in the U.S. is expected to slow rapidly over the next three years, the market research company EMarketer said in August. According to EMarketer's calculations, worldwide net revenue will be $4.3 billion in 2015, up 41% from last year.
Yet to be determined is how the subscription model will affect an expanding generation of YouTube stars, many of whom began by filming videos in their bedrooms and elsewhere, cracking jokes, dancing and talking to the camera about everything from fashion to video games. They uploaded the videos to YouTube, attracting advertising sponsors, and, in a few cases, becoming millionaires in the process.
YouTube often places several ads on the same page as a video, and attracting millions of viewers has meant steady, growing income for video makers, who get 55% of ad revenue.
It's unclear how the commercial-free subscription will affect ad income, though YouTube Chief Business Officer Robert Kyncl said the "vast majority" of YouTube's subscription revenue will go to the YouTube Red content creators. Certainly, some creators will lose out on money from heavy viewers who might encounter lots of ads or be willing to pay more than $10 a month for a subscription.
With Red, YouTube also plans to create a new, subscriber-only slate of original shows and movies for its most popular video stars. The selected creators will be gambling that slicker content will broaden their viewership and fatten their paychecks.
Ferrari opened at $60 per share at its trading debut on Wednesday, 15% above its IPO price of $52.
The luxury sports car maker had priced its IPO at the higher end of expectations for between $48 to $52. It was indicated to open between $59 to $62 per share.
The stock is trading with the ticker RACE.
The company raised $893 million at its initial public offering, according to Bloomberg.
Ferrari is listed New York Stock Exchange, which currently has several sports cars parked outside its premises. Chairman Sergio Marchionne rang the NYSE's opening bell on Wednesday.
The company was spun off from Fiat Chrysler Automobiles, which is expected to offer the public over 17 million shares, or about 10%. It will raise at least $4 billion from the Ferrari public offering.
Ferrari NV (RACE.N) priced its initial public offering at the top of expectations on Tuesday, raising $893 million, as drivers enamored with the luxury sports car maker snapped up its shares alongside institutional investors, defying a choppy market.
Ferrari, controlled by Fiat Chrysler Automobiles NV (FCA) (FCHA.MI), pulled out all the stops to market itself to some of its cars' owners as well as Wall Street, and also limited the offering to a 9.1 percent stake in the company.
The strategy paid off, as the IPO was priced in New York on Tuesday at $52 per share, the top end of its indicated $48 to $52 per share range, according to people familiar with the matter. The IPO gives Ferrari a market capitalization of around $9.8 billion.
The sources asked not to be identified because the pricing details of the IPO were not yet public. Ferrari did not immediately respond to a request for comment.
The proceeds will be used to help fund FCA's ambitious growth plan centered around the revamp of its Alfa Romeo, Jeep and Maserati brands. A successful listing will bolster FCA's finances at a time when its calls for a merger partner have fallen on deaf ears.
The company's listing comes a week after several big IPOs were discounted or delayed. Payment processor First Data Corp (FDC.N) priced this year's biggest public offering below its indicated range, while supermarket operator Albertsons Companies Inc (ABS.N) had to postpone its IPO the night before its shares were expected to start trading. Luxury fashion retailer Neiman Marcus Group Inc has also delayed its IPO to 2016.
Unlike Neiman Marcus, First Data and Albertsons, however, Ferrari is not a big leveraged buyout looking to pay down debt. Fiat Chrysler is taking Ferrari public to sell a tenth of its 90 percent stake in the company. All proceeds from the IPO will go to FCA, according to a regulatory filing.
The luxury car company also approached a different investor mix, attempting to capitalize on the emotional resonance of its brand. It targeted more retail investors than a typical IPO, honing in on high net-worth individuals and Ferrari owners, some of whom said they got letters this summer inviting them to buy company shares once it listed.
"A classic Ferrari is a better investment than the stock, but I still plan on buying shares," David Radeloff, who has owned a number of the cars, said in New York ahead of the offering.
The strategy demonstrates an understanding of what drives many investment decisions, said Meir Statman, professor of finance at Santa Clara University and author of "What Investors Really Want."
"The utilitarian benefits of a Ferrari are no different from those of a Toyota," he said. "Both will take you from home to work and back. But Ferraris yield expressive and emotional benefits that Toyotas cannot match."
"A 70-year old in a Toyota is old, but a 70-year old in a Ferrari is young," he added.
The overall windfall for FCA, including proceeds from the IPO and 2.8 billion euros ($3.2 billion) to be transferred to the parent as part of Ferrari's spin-off, is seen at around $4.2 billion.
Shares in Maranello, Italy-based Ferrari are expected to start trading on Wednesday and list on the New York Stock Exchange under the symbol "RACE."
UBS AG (UBSG.VX) and Bank of America Corp (BAC.N) are lead underwriters of Ferrari's IPO.
Apple Inc's new music streaming service has netted more than 6.5 million paid users, the tech giant's Chief Executive Officer Tim Cook said on Monday.
Speaking at a technology conference organized by The Wall Street Journal in Laguna Beach, Calif., Cook said that an additional 8.5 million people are participating in a free trial of the Apple Music service. That gives it more than 15 million users in total, which Cook described as a successful debut.
"I'm really happy about it, and I think the runway here is really good," Cook said.
Released in June, Apple Music is the company's attempt to carry its dominance of digital music through its iTunes store into the era of music streaming pioneered by Spotify and others. Apple is allowing users to test its service with a 90-day free trial, which elapsed for the first users earlier this month.
Analysts have predicted that Apple's service will find a strong following due to the vast installed base of iTunes users, but few think the iPhone maker will eclipse other music streaming companies. Spotify, the industry leader, has more than 20 million paid subscribers worldwide, the company has told Reuters.
In a wide-ranging conversation with Gerard Baker, editor in chief of The Wall Street Journal, Cook also touched on Apple TV, which recently received a long-awaited update. A new version of the set-top box featuring apps and expanded search features will be released later this month, but the product does not include a streaming TV service, which industry executives say the company is exploring.
Although television has been slow to change, Cook expressed optimism that the industry will eventually embrace his vision of apps for TV.
"There are very few content owners that believe that the existing model will last forever," Cook said. "I think the most forward-thinking ones are looking and saying, 'I'd rather have the first-mover advantage.'"
Cook did not publicly acknowledge efforts by Apple to build an electric vehicle, which sources tell Reuters are under way. But he sketched out his future vision of what cars will look like, with a greater infusion of technology.
"What I see is that software becomes an increasingly important component of the car of the future," he said. "You see that autonomous driving becomes much more important."
Canada's Liberal leader Justin Trudeau rode a late surge to a stunning majority election victory on Monday, toppling Prime Minister Stephen Harper's Conservatives with a promise of change and returning a touch of glamor, youth and charisma to Ottawa.
Harper conceded defeat and the Conservative party announced his resignation, ending a nine-year run in power and the 56-year-old's brand of fiscal and cultural conservatism that voters appeared to sour on.
The Liberals seized a Parliamentary majority, a turn in political fortunes that smashed the record for the number of seats gained from one election to the next. The center-left Liberals had been a distant third place party before this election.
"My friends, we beat fear with hope. We beat cynicism with hard work. We beat negative, divisive politics with a positive vision that brings Canadians together," Trudeau, 43, told a crowd of cheering supporters in Montreal.
"This is what positive politics can do."
The photogenic son of former Prime Minister Pierre Trudeau pledged to run a C$10 billion annual budget deficit for three years to invest in infrastructure and help stimulate Canada's anemic economic growth.
This rattled financial markets ahead of the vote and the Canadian dollar weakened on news of his victory.
Trudeau thanked his two closest friends and advisers for shaping his campaign to show "that you can appeal to the better angels of our nature. And you can win doing it."
Trudeau has said he will repair Canada's cool relations with the Obama administration, withdraw Canada from the combat mission against Islamic State militants in favor of humanitarian aid and training, and tackle climate change.
Trudeau vaulted from third place to lead the polls in the final days of the campaign, and will now return to the Prime Minister's residence in Ottawa where he grew up as a child.
"When the time for change strikes, it's lethal," former Conservative Prime Minister Brian Mulroney said in a television interview. "I ran and was successful because I wasn't Pierre Trudeau. Justin is successful because he isn't Stephen Harper."
Liberal supporters at the party's campaign headquarters broke into cheers and whistles when television projected that Trudeau would be the next prime minister.
The Conservatives become the official opposition in Parliament, with the left-leaning New Democratic Party in third.
The NDP's fall was highlighted in Quebec, where it had the majority of its seats, while the separatist Bloc Quebecois won 10 seats, up from just two previously. BQ leader Gilles Duceppe, however, failed to win a seat.
The Liberals' win marks a swing toward a more multilateral approach in global politics by the Canadian government, which has distanced itself from the United Nations in recent years.
The former teacher took charge of the party just two years ago and guided it out of the political wilderness with a pledge of economic stimulus and stirring appeals for a return to social liberalism.
Born to a sitting prime minister who came to power in 1968 on a wave of popular support dubbed "Trudeaumania," Trudeau will become the second-youngest prime minister in Canadian history and brings an appeal more common in movie stars than statesmen.
Pierre once jumped from a trampoline into the crowd. With boyish good looks, Justin thrusts himself into throngs and puts his hand to his heart when listening to someone.
Selfie requests are so common he happily takes the camera and snaps the photo himself, often cheek to cheek. He is the married father of three young children.
Criticized for being more style than substance, Trudeau has used attacks on his good looks and privileged upbringing to win over voters, who recalled his father's rock-star presence and an era when Canada had some sizzle on the world stage.
Pierre Trudeau, who died in 2000, was in power for 15 years - with a brief interruption - and remains one of the few Canadian leaders to be known abroad.
Love is finally going to be available on the public market.
The Match Group filed for an IPO Friday, applying to be listed on the Nasdaq under the ticker "MTCH."
The S-1 filing says there are over 45 sites in Match's portfolio, including Match itself, OkCupid and Tinder, along with less well-known sites like Our-Time and BlackPeopleMeet. All, of course, are geared toward fulfilling a mission to "increase romantic connectivity worldwide."
The Match Group has been a part of IAC/Interactive (IACI), the conglomerate run by media mogul Barry Diller. The Match Group had 4.7 million paying subscribers worldwide at the end of the third quarter. It reported revenue of nearly $900 million in 2014 and net earnings of $148 million.
In its filing, Match Group said it would consolidate the roles of CEO and chairman by the end of 2015, which are currently held by Greg Blatt and Sam Yagan. Blatt will take over both roles and Yagan, who cofounded OkCupid which was later acquired by Match, "is expected to continue to serve in a senior leadership position."
IAC also owns many other popular websites and apps -- including Vimeo, The Daily Beast, About.com and search engine Ask -- which many still remember as the old Ask Jeeves. IAC has sold off pieces of other units to the public before, including Expedia (EXPE), TripAdvisor (TRIP), HSN (HSNI) and Live Nation (LYV).
China's economy has posted its slowest growth since the financial crisis, erasing hopes of a quick recovery for the world's second-largest economy.
Gross domestic product expanded by 6.9% in the third quarter, compared to the same period last year, according to data released Monday by China's National Bureau of Statistics.
Analysts have known for a long time that China's growth would slow. It had to weaken, in fact, as Beijing made reforms designed to shift the country away from relying on building roads, railways and housing to generate growth, to an economy powered by consumer spending.
That's happening now. Beijing's growth target for the year is 7% -- a goal that was met in the first six months. Seven percent is a far cry from the heady days when China was pumping out GDP growth of 10% on a regular basis. But it's also strong enough to maintain employment levels.
Louis Kuijs, an economist at Oxford Economics, said the GDP data indicate China has avoided a sharp slowdown. However, incremental stimulus measures will be required if Beijing is to keep its growth target within range.
Chinese President Xi Jinping has acknowledged worries over the slowdown, which has hit global commodity prices and slammed countries that depend on exports to China.
"As an economy closely linked to international markets, China cannot stay immune to the lackluster performance of the global economy," Xi told Reuters in a rare interview released over the weekend. "We do have concerns about the Chinese economy, and we are working hard to address them."
This month's annual meeting of the Communist Party will be watched closely for signs that Beijing may be ready to intervene more aggressively to boost growth.
The government is expected to unveil its five-year social and economic plan for 2016 to 2020 at the meeting. Experts say the government will likely continue with piecemeal stimulus to support the economy and keep risks at bay.
The central bank has already cut interest rates a handful of times this year, and told banks they could lend more.
Jeb Bush is leading the U.S. presidential campaign by at least one measure: financial support from Wall Street.
The former Florida governor who is seeking the Republican presidential nomination received more financial backing than any competitor - Democrat or Republican - from employees of the major Wall Street banks between July and the end of September, campaign filings released on Thursday show.
Employees from Bank of America, Citigroup, Credit Suisse, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley and UBS, gave Bush a combined $107,000. He also received the maximum-allowed $2,700 from billionaire hedge fund manager Leon Cooperman.
The sums are miniscule compared to Bush's total haul for the quarter of $13.4 million. But his popularity among financiers is starkly different from his standing in the multitude of national polls.
Bush, seen as a moderate in the crowded Republican field where 14 candidates are competing for the nomination, trails Donald Trump, Ben Carson and Carly Fiorina, three candidates who have never held elected office, in every major poll.
The second most popular candidate on Wall Street according to giving patterns is Democratic front-runner and former Secretary of State Hillary Clinton. She took in nearly $84,000 from employees of the same banks.
No other candidates came close to Clinton and Bush. Florida Senator Marco Rubio, another establishment Republican, raised more than $25,000, while Texas Senator Ted Cruz took in $17,000.
Seth Klarman, the Boston-based billionaire founder of the Baupost Group, gave Rubio $2,800 but his support wasn't exclusive. He almost gave twice as much to Fiorina.
Upstart candidates on both sides won very little support from Wall Street. Employees at the banks gave $4,843 to Vermont Senator Bernie Sanders, Clinton's closest rival and a self-described democratic socialist. Carson took in just over $8,000 from Wall Street.
Billionaire Steve Wynn is not happy with the government of Macau.
The casino magnate let loose on a conference call Thursday after his company's Macau division reported a net revenue decline of nearly 40%.
"In my 45 years of experience, I've never seen anything like this before," Wynn said.
Macau, like Hong Kong, is a Special Administrative Region of China. It is also the only place in China where gambling is legal. Since 2002, its casino industry has grown into a $45 billion heavyweight, roughly seven times bigger than Las Vegas.
But now, VIP gamblers are fleeing Macau in droves because an intense anti-corruption campaign in Mainland China has made them wary of visiting casinos. The industry is also taking a hit from new government rules.
Wynn said he is particularly flummoxed by the local government's decision to limit the number of tables allowed at new casinos, including one that his company is building.
"The table cap is the single most counter-intuitive and irrational decision that was ever made," Wynn said. "Here we are spending billions of dollars ... and then arbitrarily somebody says, 'well you should only have this many tables.' No jurisdiction ever has imposed that kind of logic on us."
The vast majority of Macau's revenue currently comes directly from the casinos, and the territory is trying desperately to diversify its economy beyond gambling.
The obvious starting point is to boost its entertainment and leisure options, which lag far behind the glitz, glam and family fun offered in Vegas. The idea is to offer guests a more complete resort experience.
Wynn (WYNN) is happy to build more attractions, but he said that government officials should not seek to limit the industry's core business.
"We built tens of thousands of rooms and restaurants and attractions, but they say, 'you're not allowed to gamble, because you can't have the tables.' Well that's one of the reasons they come to Macau."
The frankness of Wynn's remarks were a notable departure from the jargon and corporate speak that typify earnings calls.
"I don't know that this has been the most satisfying quarterly phone call we've ever had, but at least it's the most candid and the most honest one that we could possibly give everybody that is interested in our company," Wynn concluded.
The Islamic State is trying to hack American electrical power companies.
U.S. law enforcement officials revealed the hack attempts on Wednesday at a conference of American energy firms who were meeting about national security concerns.
"ISIL is beginning to perpetrate cyberattacks," Caitlin Durkovich, assistant secretary for infrastructure protection at the Department of Homeland Security, told company executives. The attacks by the Islamic State have been unsuccessful, Terrorists are not currently using the most sophisticated hacking tools to break into computer systems and turn off or blow up machines.
"Strong intent. Thankfully, low capability," said John Riggi, a section chief at the FBI's cyber division. "But the concern is that they'll buy that capability."
Indeed, hacking software is up for sale in black markets online. That's often how mafias acquire the cyberweapons they use to break into companies and steal giant databases of information they later sell to fraudsters.
The FBI now worries that the Islamic State or its supporters will buy malicious software that can sneak into computers and destroy electronics. An attack on power companies could disrupt the flow of energy to U.S. homes and businesses.
And it's not just Islamic extremists. There's an equal threat from domestic terrorists and hate groups, according to Mark Lemery. He's the "critical infrastructure protection coordinator" who helps coordinate defenses against attacks in Utah. But again, the worries are tempered.
"They'd love to do damage, but they just don't have the capability," Lemery said. "Terrorists have not gotten to the point where they're causing physical damage."
Officials made clear that the greater concern is attacks from other countries. Riggi said malware found last year on industrial control systems at energy companies -- including pumps and engines -- were traced to the Russian government.
The chance of a hack taking out the entire U.S. energy grid -- or even a section of it -- is extremely low. The grid isn't as uniform and connected as people might believe. Currently, it's a chaotic patchwork of "grids," each with different types of machines and software that don't smoothly coordinate or communicate.
China now has more billionaires than the United States.
China now has 596 billionaires, compared to 537 in the U.S. 242 new Chinese billionaires were added to the list over the past year, moving the country ahead of America for the first time.
"Despite the slowdown in the economy, China's richest have defied gravity, recording their best year ever, and creating more wealth than any country has ever done before in a year," said Rupert Hoogewerf, chairman of Hurun Report.
Wang Jianlin of Dalian Wanda recaptured the ranking's top spot from Alibaba (BABA, Tech30) founder Jack Ma. Wang, one of China's top real estate developers, is now worth $34.4 billion, a 52% increase over the previous year.
Wang's strong performance was primarily due to the listing of his cinema chain in Shanghai. Wang has been diversifying his assets, and recently purchased World Triathlon Corporation, which owns the Ironman brand.
Ma, meanwhile, saw his wealth decline 3% to $22.7 billion. Alibaba's shares have fallen sharply since its IPO a year ago.
Earlier this year that many of China's billionaires fly below the radar in an effort to conceal wealth from the authorities. It’s possible to identify roughly 50% of the country's billionaires, while 15% of China's wealth is hidden from the public.
"Think of it like an iceberg, the tip of it is much smaller than the whole," Hoogewerf said. "We do our best to find [hidden money], but they go to such extraordinary lengths to hide it."
