Facebook is on a tear this year — surging 42 percent, and helping to push the tech sector to highs not seen since the dot-com bubble. After 17 years, the S&P 500 Technology sector finally closed at a record high on Wednesday, powered by mega-cap tech stocks like Facebook, Apple, Microsoft and Nvidia. And with […]
Read moreFirst Amazon dealt a blow to book stores. Then brick and mortar retail outlets. It’s coming after network television, Thursday night football and even Netflix. Grocery stores and Blue Apron better watch out, and it’s one-upping Pinterest and Instagram with the mobile app’s new Spark feature. Recently, Amazon’s innovations have veered in the direction of […]
Read moreThe beleaguered transit system in the Northeast may receive a boost from one of the most ambitious entrepreneurs in the world. Elon Musk tweeted Thursday that The Boring Co. received “verbal” government approval to begin building an underground Hyperloop, saying it would take 29 minutes to go from New York to Washington, D.C. “Just received […]
Read moreWhen Dick Costolo led Twitter, it was the little guy that takes on Facebook — and he thinks that Snapchat needs to find its area of attack. “What you have to understand about the specific space at which Twitter is operating in — and you’re seeing this a bit now with Snap — is that […]
Read moreMoscow and Washington are in talks to create a joint cyber security working group, Russia’s RIA news agency reported on Thursday, citing Andrey Krutskikh, a special presidential envoy on cybersecurity. U.S. President Donald Trump said earlier this month he had discussed the idea of creating such a group with President Vladimir Putin at a summit […]
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GOOD generals know that the next war will be fought with different weapons and tactics from the last. Similarly, financial regulators are right to worry that the next crisis may not resemble the credit crunch of 2007-08. The last crisis arose from the interaction between the market for mortgage-backed securities and the banking system. As […]
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IN MOST four-decade-old firms run by greying co-founders, investors would have long since demanded clarity on succession. But private equity works differently: the industry has been dominated by its pioneers ever since its origins in the 1970s. So an announcement on July 17th about its future leadership by KKR, one of the world’s largest private-equity […]
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WHEN the deal was struck just over a decade ago, for $1.8bn, 666 Fifth Avenue, a 41-storey Manhattan skyscraper, became the most expensive office building ever sold in America. Now it is in limbo, awaiting billions of dollars of investment to rebuild it and raise it almost twice as high. Across the Hudson River, another […]
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THE most recent time Moses Kibet Biegon needed a quick loan was when his roof blew away. He got one from the Imarisha Savings and Credit Co-operative, in Kericho in western Kenya. Imarisha channels the savings of its 57,000 members into loans for school fees, business projects or, in Mr Biegon’s case, roof repairs. It […]
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ACCORDING to company lore, Yunnan Baiyao, a musty-smelling medical powder, played a vital role during the Long March. As China’s Communist troops fled from attacks in the 1930s, trekking thousands of miles to a new base, they spread its yellow granules on their wounds to stanch bleeding. To this day, instructions on the Yunnan Baiyao […]
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