President Donald Trump took aim at the U.S. Postal Service on Friday for offering Amazon and other e-commerce companies low rates for package delivery. Tweet The USPS, when reached by CNBC, said it is looking into the issue. At the heart of the issue is the Postal Service’s essentially monopolistic hold on the letter business […]
Read moreShares of TiVo spiked Friday before settling about 7.5 percent higher on a report the digital entertainment company has received buyout bids. The Street reports several private equity buyers have expressed interest in a deal that would value the company at around $2.5 billion, citing anonymous sources. The buyers reportedly offered just above $20 a […]
Read moreSouth Korea said Friday that it was holding a Hong Kong-flagged ship and its crew members for allegedly violating U.N. sanctions by transferring oil to a North Korean vessel in October. The Lighthouse Winmore is believed to have transferred about 600 tons of refined petroleum products to the North Korean ship, the Sam Jong 2, […]
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Ripple surged more than 30 percent Friday to an all-time high, briefly surpassing ethereum as the second-largest cryptocurrency by market capitalization. Officially called XRP, ripple climbed nearly 33 percent to a record high of $1.90 and traded near $1.81 Friday morning, according to CoinMarketCap. The digital currency briefly gained a market cap of more than […]
Read moreEver since the recent bitcoin craze took hold, closely followed investor Dennis Gartman has made no secret of his disdain for the cryptocurrency. On CNBC in August, he called bitcoin a “punter’s dream.” In November, he said it’s for “criminals” and “millennials.” Earlier this month, he admitted new bitcoin futures lend some “legitimacy,” but said […]
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Following an uproar over recent reports that Apple slows down older iPhones, the company released a 766-word statement on Thursday, apologizing to its customers. Apple said it would never “intentionally shorten the life of any product,” but acknowledged that users of earlier generations of phones could experience longer launch times for apps and other performance […]
Read moreThe U.S. dollar saw a stunning spiral downward this year, now tracking for its worst since 2003. One strategist closely looking at the dollar’s technical setup says the greenback’s current levels are at a key juncture. Matt Maley, equity strategist with Miller Tabak, breaks down possible scenarios for the dollar as it trades near these […]
Read moreDifficult times for Chipotle shareholders will not turn around anytime soon, according to one Wall Street firm. Cowen reiterated its underperform rating on Chipotle shares, predicting the company’s fourth-quarter sales will come in below expectations. “If Facebook check-in’s are indicative of traffic, data suggests the most recent weekly trend weakened to the softest levels of […]
Read moreApple‘s rare apology over iPhone slowdowns targets consumers “on the fence” about upgrading their smartphones, tech analyst Daniel Ives told CNBC on Friday. The tech giant issued an apology Thursday over the revelation that its software slows down older phones to protect battery stability. Apple will cut the price of replacing an out-of-warranty battery to […]
Read moreChina’s Huawei on Friday flagged overall and smartphone revenue figures for 2017 that represented its slowest growth in four years, and vowed to extend its global reach with more premium products next year. The telecom equipment and smartphone maker expects 2017 revenue to rise 15 percent to 600 billion yuan ($92.08 billion), Chief Executive Ken […]
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