Facebook said its Messenger app now has 1.3 billion monthly users, up 30 percent in just over a year and rivaling the popularity of WhatsApp. The milestone, disclosed on Thursday, comes two months after WhatsApp, Facebook’s other message service, said it was serving 1.3 billion users a month. Facebook wants to generate more revenue from […]
Read moreEquifax’s massive data breach affecting an estimated 143 million Americans has “probably happened before,” said Chamath Palihapitiya, founder of tech investment firm Social Capital. During an appearance on CNBC’s “Fast Money Halftime Report” on Thursday, Palihapitiya cautioned against worrying yourself “into a puddle,” because the data was probably already out there, he said. “It’s almost […]
Read moreNestle has acquired a majority stake in premium coffee company Blue Bottle Coffee. Nestle already owns brands such as Nespresso, Nescafe and creamer brand Coffeemate. Blue Bottle will expand Nestle’s reach in the premium coffee market. “This move underlines Nestlé’s focus on investing in high-growth categories and acting on consumer trends,” Nestle CEO Mark Schneider […]
Read moreEven though he was once an executive at Facebook, Chamath Palihapitiya favors investing in Amazon instead, he told CNBC’s “Fast Money: Halftime Report” on Thursday. President Donald Trump has been a critic of Amazon, tweeting his disdain for coverage from The Washington Post, which is a personal holding of Amazon CEO Jeff Bezos. But Palihapitiya […]
Read moreSocial Capital founder Chamath Palihapitiya said Thursday “people are fundamentally misunderstanding the demand of the [Tesla] Model 3.” In an hour-long appearance on CNBC’s “Fast Money Halftime Report,” Palihapitiya said the new auto model will outpace the comparable BMW 3 Series, saying “that entire business is going to go to zero.” Morgan Stanley’s Adam Jones […]
Read moreSnap shareholders have felt the pain of its March IPO, as shares have tumbled more than 27 percent over the past 6 months, dipping below the public offering price. That could have been avoided if the IPO wasn’t mispriced, Chamath Palihapitiya told CNBC’s “Fast Money: Halftime Report” on Thursday. “You have a bank, in that […]
Read moreConsumers finding that their personal data may have been exposed in the massive Equifax cyberattack might be surprised to learn how many companies have access to different bits of their personal information. The credit-reporting company announced last week that the personal information of over 140 million Americans could have been accessed by hackers between May […]
Read moreContinental Resources CEO and Chairman Harold Hamm on Thursday fired back at renowned short-seller Jim Chanos after he revealed he is betting that shares of Hamm’s Oklahoma-based drilling company will fall. “Well, first of all, I can say almost, who is this guy?” Hamm told CNBC’s “Squawk on the Street.” Hamm speculated that Chanos — […]
Read moreBROWSING websites that list sperm donors is weirdly similar to online dating. “Sanford is the total package,” begins one online ad, describing his strong jawline and piercing blue eyes. With a degree in finance and a “charming demeanour”, he is more than a pretty face. You can listen to a voice recording from Sanford himself. […]
Read moreCOMPANIES’ legal structures are usually mind-numbing fare. But occasionally it is worth pinching yourself and paying attention. Take “variable interest entities” (VIEs), a kind of corporate architecture used mainly by China’s tech firms, including two superstars, Alibaba and Tencent. They go largely unremarked, but VIEs have become incredibly important. Investors outside China have about $1trn […]
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