Former Walmart U.S. chief Bill Simon on Wednesday slammed Amazon for using cloud and ad revenues to support what he called meager retail profits. Walmart “went out head to head, knuckle to knuckle and won market share in retail by executing a business model that customers wanted,” said Simon, in an interview with CNBC’s “Squawk […]
Read moreWASHINGTON — Fei-Fei Li is among the brightest stars in the burgeoning field of artificial intelligence, somehow managing to hold down two demanding jobs simultaneously: head of Stanford University’s A.I. lab and chief scientist for A.I. at Google Cloud, one of the search giant’s most promising enterprises. Yet last September, when nervous company officials discussed […]
Read moreQualcomm recently announced its XR1 “extended reality” platform that will allow companies like Facebook to make more advanced portable virtual reality headsets that you can take anywhere. Facebook‘s new portable Oculus Go headset, for example, is the best portable virtual reality solution on the market right now. But it uses an older Qualcomm Snapdragon 821 […]
Read moreE-scooter start-up Bird is the burgeoning industry’s first unicorn, with a recent funding round that values the company at $1 billion, according to a Bloomberg report. The start-up is raising $150 million in a round led by Sequoia Capital, the business news site said citing anonymous sources. Bird may raise more money in the new […]
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Concerns over Italy‘s political tug of war could spill into the U.S. stock market by way of a strengthening dollar, B. Riley FBR’s Mark Grant told CNBC on Wednesday. “We’re just at the beginning of the commotion” in Rome, said the veteran strategist, referring to whether Italy might ultimately seek to leave the euro, causing […]
Read moreMajor bank stocks tumbled on Tuesday due to political turmoil in Italy, sparking worries about the prospect of another eurozone crisis. Shares of J.P. Morgan Chase, Bank of America, Morgan Stanley and Citigroup all fell 4 percent or more on Tuesday. But Jefferies believes the decline in financial sector shares is a good buying opportunity […]
Read moreChinese President Xi Jinping said in a speech this week that blockchain — the technology underlying bitcoin — has “breakthrough” applications. “A new generation of technology represented by artificial intelligence, quantum information, mobile communications, internet of things and blockchain is accelerating breakthrough applications,” he said Monday, according to a translation of his remarks. Xi also […]
Read moreDick’s Sporting Goods shares jumped 23 percent at the market’s open Wednesday after it beat first-quarter expectations and hiked its full-year earnings forecast, easing concerns that restrictions it placed on gun purchases would hurt its sales. The retailer reported $60.09 billion in net income, or 59 cents per share, topping analysts polled by Thomson Reuters’ […]
Read moreInvestors who spread funds among two or more financial advisors to gain diversification or protect against another Bernie Madoff may actually increase their risk of poor returns. That’s according to financial advisors who declare that being faithful to one of their number is part of investing best practices. Convincing clients not to stray is a […]
Read moreMore than two-thirds of people around the world work away from the office at least once every week, according to researchers. A study released Tuesday by Luxembourg-based serviced office provider IWG found that 70 percent of professionals work remotely — a phenomenon known as telecommuting — at least one day a week, while 53 percent […]
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