The Wisconsin agency tasked with holding Foxconn accountable for delivering up to 13,000 jobs in exchange for $1.5 billion in state payroll tax credits has a history of failing to verify job-creation claims and rewarding companies that fall short of quotas, according to state audits. The deal to secure Foxconn’s proposed LCD screen plant announced […]
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As the unemployment rate tumbled to its lowest level since 2001, Fundstrat’s Tom Lee found the market is already discounting future rising employee paychecks in stock prices. The firm shared with its clients which stocks will likely benefit most if wages inflation rises. “The labor market is set to tighten more dramatically than consensus realizes, […]
Read moreSome of Uber’s investors want to push out a venture capital firm that’s been pitted against former CEO Travis Kalanick. A shareholder group — including investors Shervin Pishervar, Ron Burkle and Adam Leber — are demanding Benchmark divest some of its shares and step down from the board of the troubled start-up. Axios earlier reported […]
Read moreFacebook and many of its apps have been blocked in China for years. To change that, Mark Zuckerberg has made a big point of meeting with Chinese politicians, reading stodgy Communist Party propaganda, studying Mandarin and — perhaps more daunting — speaking it in public. Now the social network is trying a different way into […]
Read moreTesla launched its first high-yield junk bond offering Friday at $1.8 billion, $300 million more than expected and at a yield of 5.25 percent, according to Informa Global Markets. The greater-than-expected amount indicated high demand. Pricing was expected later in the afternoon. Earlier in the week, Elon Musk’s luxury electric car maker was expected to […]
Read moreGabriel Puliatti is an up-and-coming company CEO who, at some point in his career, will need to raise money from investors. Don’t count on Benchmark Capital being one of them. After Benchmark filed an unprecedented lawsuit against Uber’s former CEO on Thursday, Puliatti now says there is “no way” that he will accept an investment […]
Read moreThis was not the week off that Silicon Valley had planned. Google CEO Sundar Pichai now leads a workforce divided by the issue of diversity, according to an email he sent to employees cancelling an all-hands meeting on the topic. “The vast majority of you are very supportive of our decision. A smaller percentage of […]
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Biotech stocks are tracking for their worst month of the year, and one trader is betting on more misery. The iShares Nasdaq Biotech ETF, IBB, fell more than 3 percent in the past week, and if history is any indication, it could get a lot worse. Over the past 10 years, August has been the […]
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Investors this week got their first taste of market pandemonium in a long while. If they want a place to shelter from the storm, these securities have a track record of rising during times of market tumult: The Dow Jones industrial average dropped more than 200 points, and the CBOE volatility index, or VIX, jumped […]
Read moreGoldman Sachs plans to begin using a personality test as part of its hiring process in several divisions like banking, trading and finance, and some see this as one of the ultimate ways to figure out what makes prospective candidates in the industry tick. “I kind of view it as the holy grail. Can we […]
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