Asian markets declined early on Thursday after the Federal Reserve raised interest rates, a widely expected move, and indicated two more rate hikes were likely in 2018. The Nikkei 225 fell 0.73 percent, reversing the slight gains notched by the benchmark in the last session. Mining stocks fell more than 2 percent as most other […]
Read moreBillionaire media investor Mario Gabelli told CNBC on Wednesday he was “applauding” Comcast’s latest bid for Twenty-First Century Fox on behalf of his clients. And he believes there’s a chance it may not end there. “I wouldn’t rule out a small possibility that one of the global behemoths … may come in over the top,” […]
Read moreApple has long positioned the iPhone as a secure device that only its owner can open. That has led to battles with law enforcement officials who want to get information off them, including a well-publicized showdown with the F.B.I. in 2016 after Apple refused to help open the locked iPhone of a mass killer. The […]
Read moreNed Newell-Hanson, a 26-year-old Londoner, watches football obsessively but avoids paying for it. Some of his happiest moments are watching Chelsea games on his mobile, ideally on his balcony with a glass of wine but if necessary on a bus, hours after they have ended. (He goes to great lengths to avoid prematurely hearing the […]
Read moreJim Chanos says there's a culture of lying in Silicon Valley and Theranos was the tip of the iceberg
In Silicon Valley, hyperbole is becoming a problem, according to prominent short-seller Jim Chanos. The billionaire who predicted the fall of Enron is warning investors to be skeptical of young, optimistic leaders of companies that he says could end up like disgraced start-up Theranos. “There seems to be a culture where you’re allowed to say […]
Read moreGap appointed Neil Fiske president and CEO of Gap brand, the clothing company announced on Wednesday. Fiske will assume his new role on June 20. “Neil brings significant retail and apparel experience to Gap Inc. and a track record of transforming and repositioning brands,” Gap President and CEO Art Peck said in a statement. Gap […]
Read moreThe ties between tech and media keep getting tighter. A federal judge ruled Tuesday telecom giant AT&T could purchase media behemoth Time Warner, potentially paving the way for similar mergers. But the two sectors were already pretty linked — if only by their boards of directors. Industry leaders like Apple, Amazon, Netflix and Disney share […]
Read moreElon Musk just made another big bet on himself. Over the last two days, Musk has bought 72,500 shares of Tesla, when shares were trading at $342 to $347, according to an SEC filing. The total purchase is worth about $24.9 million. Tesla has an abundance of skeptics, but Musk has continued to fork over […]
Read moreThe party might be over soon for the 9-year-long bull market, J.P. Morgan strategist David Kelly told CNBC. “This economy will slow [in the] second half of 2019, 2020,” Kelly, who is chief global strategist at J.P. Morgan Asset Management, said Wednesday on “Power Lunch.” After President Donald Trump signed into law the Tax Cuts […]
Read moreOnce a year in mid-winter, Amazon fulfillment center employees are sent an offer called “pay to quit.” Employees who take the offer get paid based on their years of services to the company, the first year the offer is $2,000 and goes up by $1,000 each additional year until it is capped at $5,000. The […]
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