Japan’s economy shrank at an annualized rate of 0.6 percent in January-March, contracting for the first time in nine quarters, as private consumption and capital expenditure slowed, government data showed on Wednesday. That marked the end of the longest sequence of growth since a 12-quarter run between April-June 1986 and January-March 1989 during the asset-inflated […]
Read moreFutures in Asia pointed to a lower open on Wednesday following a down day for Wall Street as the U.S. 10-year Treasury yield rose to 3.09 percent in the last session. Nikkei futures traded in Chicago were down 0.32 percent at 22,745 when compared to the index’s Thursday close, while Australian SPI futures were lower […]
Read moreWhile CNBC’s Jim Cramer is confident about the future of FANG, his acronym for the stocks of Facebook, Amazon, Netflix and Google, now Alphabet, he knew concerns would arise after Tuesday’s market pain. All four major indices declined after the closely watched 10-year Treasury yield rose to its highest level since 2011 and home improvement […]
Read moreThis start-up is using connected toothbrushes to overthrow the 'primitive' dental insurance industry
Alex Frommeyer comes from a family of dentists. Now, he has a start-up that sells dental insurance, but with a twist. The Columbus, Ohio, company, called Beam Dental, started out by selling Bluetooth-connected toothbrushes, meaning that their product communicates with an app. Once they got people using it, the founders saw an opportunity to use […]
Read moreTesla’s energy unit lost two executives after CEO Elon Musk announced a “thorough reorganization” of the company, Bloomberg reported. Stationary storage unit product director Arch Padmanabhan, and Bob Rudd, a former SolarCity executive who led commercial and utility sales, have both left the electric car company, sources told Bloomberg. Padmanabhan told Bloomberg he is working […]
Read moreStanley Druckenmiller made big bets on semiconductor stocks during the first quarter, according to a regulatory filing released Tuesday. Duquesne Capital initiated positions in Intel, Micron Technology and Qualcomm. The fund bought 2.46 million shares of Intel, 2.19 million shares of Micron and 411,000 of Qualcomm. In total, Duquesne invested $273.8 million in those stocks, […]
Read moreSoFi CEO Anthony Noto, who left Twitter earlier this year to take over the online lender, has just sent his first quarterly letter to shareholders. While he didn’t address the sexual harassment allegations that led to the ouster last year of co-founder Mike Cagney, Noto did broadly discuss the establishment of “our mission and our […]
Read moreTesla’s move to shut down production of its Model 3 for six days is a “big deal” but it’s not necessarily a bad thing, tech analyst-turned-venture capitalist Gene Munster told CNBC on Tuesday. The electric car maker plans to pause production at its California factory at the end of May to work on fixes to […]
Read moreEarlier this month Warren Buffett said at the Berkshire Hathaway shareholder meeting he made a mistake by underestimating Jeff Bezos and not investing in Amazon. But this wasn’t the first time the billionaire investor shared his positive view on the founder of Amazon. In a 2017 interview video clip found using CNBC’s Warren Buffett Archive, […]
Read moreFintech company Circle is looking make a better, faster, digital version of the U.S. dollar. The Goldman Sachs-backed start-up announced a new cryptocurrency pegged to the dollar, and a $110 million investment round led by profitable crypto mining company Bitmain, which brings Circle’s value near $3 billion, the company announced Tuesday. “It unlocks an incredible […]
Read more