Samsung's $10 billion problem; Oil supply up; Earnings season is here

Saudi oil minister: Oil supply cut on track

1. Samsung has a $ 10 billion problem: Shares in Samsung plunged 8% in Seoul on Tuesday after the company instructed customers to immediately power down all Galaxy Note 7 smartphones.

It followed that with news that it was abandoning the troubled phone altogether. That could cost Samsung (SSNLF) about $ 9.5 billion in lost sales.

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