Richard Birnbaum and Elana Birnbaum, ShopWorn

The trade war between the U.S. and China escalated throughout the day Friday, culminating with President Trump announcing that the U.S. will significantly hike tariffs on nearly all Chinese imports. The decision came in response to China proclaiming earlier in the day that it would hit $75 billion worth of U.S. goods with new retaliatory tariffs.

The media mogul's new venture, a new aggregation service to compete with Google and Facebook, won't be overlooked in the digital space, according to former CNN executive Jon Klein.

From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.