Mark Zuckerberg is the wealthiest he has ever been and is poised to overtake Warren Buffett in net worth. The two founders remain neck and neck on Bloomberg Billionaires Index on Thursday, both worth an estimated $81.6 billion, with Zuckerberg’s Facebook fortune rising and Buffett’s net worth falling. (The daily ranking of billionaire net worth […]
Read moreRather than resisting data collection, society should double down on it — so long as people are appropriately compensated, technology pioneer Jaron Lanier argued. “We should think about data as a new way that people provide value. Instead of taking it, we should tell people, ‘You’re valuable in this new way,'” Lanier said on CNBC’s […]
Read moreA Tesla spokesperson told CNBC that Martin Tripp, an ex-employee who the company is suing for alleged data theft and hacking, may have threatened to attack the company’s Gigafactory in Sparks, Nevada. The spokesperson said: “Yesterday afternoon, we received a phone call from a friend of Mr. Tripp telling us that Mr. Tripp would be […]
Read moreKroger shares soared Thursday on strong earnings, which were boosted by the company’s online investments and delivery services. Shares rose more than 9 percent, putting it on pace for its best day since Mar. 10, 2009. The largest U.S. supermarket chain said adjusted earnings were $626 million, up from adjusted earnings of $546 million in […]
Read moreA continued surge in corporate earnings will have only limited benefit for stock prices, which face multiple policy obstacles, according to Goldman Sachs. In fact, the bank’s strategists have raised their S&P 500 profits expectations through 2020, but do not expect the improved climate to have a meaningful impact on equity returns. “The US economy […]
Read moreHe thought he was practicing — but the trades and the millions of dollars of windfall were real. Harouna Traore, who was taking a class in Paris to become a day trader, used a demonstration version of British brokerage firm Valbury Capital’s platform to learn how to trade equity futures last summer, according to the […]
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UNTIL recently the Abraaj Group, a private-equity firm based in Dubai, was riding high. It was one of just a few such firms focused on emerging markets, and a darling of “impact investors”, who seek social or environmental returns, not just financial ones. Assets under management of $13.6bn made it the largest private-equity firm in […]
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THE shipping industry has encountered rough seas over the past decade. Between 1985 and 2007 trade volumes shot up at around twice the rate of global GDP but since 2012 their rate of growth has barely kept pace, leaving the industry with overcapacity. Freight rates for containers have plunged by a third since 2008. Worse may be to come. The industry does […]
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AMONG Africa’s many foreign fixers and mining tycoons, few are more colourful than Dan Gertler, an Israeli diamond trader. Just over 20 years ago at the age of 23 he took a punt on Laurent Kabila, the rebel who in 1997 had just seized the Democratic Republic of Congo (then Zaire) from Mobutu Sese Seko, […]
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“CHOOSE truth. Choose Iliad,” entreats the voice-over of a television advertisement after images of President Donald Trump speechifying and footballers feigning injuries flash across the screen. That may seem pretentious for a mobile provider, but the advert is part of Iliad’s entry into Italy, which began on May 29th. The group, led by one of […]
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