Founders Fund, run by Peter Thiel, a PayPal co-founder and early Facebook investor, has bought millions of dollars in bitcoin, The Wall Street Journal reported Tuesday, citing sources familiar with the situation. Bitcoin rose more than 11 percent to trade near $14,711, according to Coinbase, amid the report. The venture capital firm bought about $15 […]
Read moreTesla’s Model 3 production challenges and continued cash burn will likely steal attention from solid deliveries of Tesla’s other models, says one analyst. Tesla early this week could announce deliveries of 2,250 Model 3 sedans, Cowen analyst Jeffrey Osborne estimates in a note Tuesday. That would be 75 percent less than Osborne had previously forecast, […]
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Stocks could pop nearly 20 percent in 2018 according to a contrarian indicator from Bank of America Merrill Lynch which predicted last year’s surprising surge. The investment bank’s so-called Sell Side Indicator measures the average equity allocation recommended by its fellow Wall Street bank peers. The indicator shows Wall Street is still not very bullish […]
Read moreThe Trump administration is calling on Iran’s government to stop blocking Instagram and other popular social media sites as Iranians are demonstrating in the streets. U.S. Undersecretary of State Steve Goldstein says the United States wants Iran to “open these sites.” He says Instagram, Telegram and other platforms are “legitimate avenues for communication.” The United […]
Read moreDepartment stores so far are having a happy new year. Encouraged by momentum from early holiday sales results, and anticipating more good news for the industry later this month, Wall Street was cheering these retailers Tuesday, sending their stocks higher. Shares of J.C. Penney climbed more than 8 percent, Kohl’s and Nordstrom were up about […]
Read moreIn 2009, 1,400 guests stayed in Airbnb for New Year’s Eve. On Sunday for 2017, more than 3 million guests did. That’s according to a recent tweet from co-founder and CEO Brian Chesky. Guests on airbnb over New Year’s The accommodations-rental platform founded by Chesky, Joe Gebbia and Nate Blecharczyk has raised almost $4.5 billion […]
Read moreThe U.S. is capable of reaching of 3 percent GDP this year, but growth is likely to slow after that, strategist David Kelly told CNBC on Tuesday. Productivity “really is the key,” said Kelly, chief global strategist at J.P. Morgan. The unemployment rate could “go down to its lowest level since 1969. Three-point-four percent by […]
Read moreA YouTube star with millions of followers apologized on Monday for posting a video that showed a dead body hanging from a tree in a Japanese forest known as a destination for suicide victims. Logan Paul, 22, posted an apology on Twitter after the video attracted a torrent of criticism online, saying that he had […]
Read moreThings at Twitter are looking “less worse,” with major app updates and a soaring stock price, but sustained growth in the face of Facebook and Google is unlikely, according to RBC Capital Markets internet analyst Mark Mahaney. Twitter is up 40 percent in the last three months, topping an $18 billion market cap — a […]
Read moreAmazon is turning to Alexa and asking it to build a big digital advertising business. The e-tailer has been in talks with several companies about letting them promote products on the best-selling Echo devices, which are powered by the Alexa voice assistant, according to several people familiar with the matter who asked not to be […]
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