Investors love Elon Musk’s vision and his companies. He’s regularly hailed as our generation’s Thomas Edison. Tesla is up nearly 80% year-to-date and by more than 1,000% in the past 5 years. It’s more valuable than GM or Ford even though they sell a fraction of the cars. As the only public company in his […]
Read moreTen years ago this week, the first iPhone was released. And one of the biggest surprises for reviewers at the time was that the touchscreen actually … worked. “The most remarkable thing about iPhone is what’s missing: a physical dialing keypad,” USA Today’s Ed Baig wrote at the time. “[W]e didn’t miss a stylus in […]
Read moreOracle has landed a big customer, Bank of America, for its enterprise resource planning and financial planning software, the company announced on Monday. The deal partly displaces Oracle rival SAP, which dominates the ERP and financial software space. The software will run on BofA’s premises, but will use Oracle’s people and hardware, and will use […]
Read moreShares of Arconic dropped more than 6 percent in early trading on Monday after Reuters reported the U.S. company formerly called Alcoa knowingly supplied flammable panels for use at London’s Grenfell Tower. Reuters said six emails sent to and by an Arconic manager raised questions about why the company supplied the combustible panels despite a […]
Read moreClosely followed trader Art Cashin told CNBC on Monday that the Bank for International Settlements just came out with a “wild card” remark on the market becoming vulnerable to another 2008-type financial crisis. Cashin spoke after the BIS, an umbrella body for leading central banks, said in an annual report on Sunday that “pricing anomalies […]
Read moreDan Loeb’s Third Point, which has more than doubled the S&P 500’s return the last two decades, just made its largest investment ever with a multi-billion dollar bet on Swiss food giant Nestle. Loeb’s hedge fund firm owns around 40 million shares of Nestle, according to an investor letter published Sunday. The position totals over […]
Read moreAlphabet and Avis Budget will work together on self-driving cars, the companies announced on Monday. Alphabet’s self-driving car company, Waymo, will rely on Avis to service and store its fleet of Chrysler self-driving vans, the companies said in a statement. Most of the 600 vehicles will be deployed, in part to support a pilot in […]
Read moreThe former chief executive officer of Barclays has warned that banks could be faced with their own “Kodak moment” by falling into irrelevance if they fail to keep up with the pace of rapidly developing fintech technologies. Antony Jenkins, who was the group CEO of Barclays from 2012 until he was sacked in 2015, said […]
Read moreStarling Bank, a new U.K. challenger bank that doesn’t have branches and relies on a mobile phone app instead to cut running costs and appeal to new customers, has received its banking passport into Ireland. The expansion into the Republic of Ireland is expected to be followed by further launches into other European Union (EU) […]
Read moreToday, Billionaire Eric Schmidt is the executive chairman of Alphabet (Google’s parent company), which has a market cap nearly $675 billion. He was also CEO of Google from 2001 to 2011, a decade when the tech behemoth both went public (2004) and saw meteoric growth. In those years when Google was rapidly expanding its workforce, […]
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