Uber may be navigating a series of missteps, but don’t expect the leaders of its biggest competitor to rejoice in the company’s struggles. “There’s nothing to celebrate in this situation,” Lyft co-founder and president John Zimmer tells The New York Times. “But it does shine a light on the importance of values and ethics.” Zimmer, […]
Read morePresident Donald Trump had plenty of praise for Xi Jinping on Thursday, hours after jailed Chinese dissident Liu Xiaobo, a Nobel Peace Prize laureate, died in a state hospital. In a joint press conference with French President Emmanuel Macron, Trump called Xi a friend and a great leader he respects. “He’s a very talented man. […]
Read moreFanDuel and DraftKings have decided to scrap their merger rather than fight the U.S. government, which had sought to block the combination of the country’s two top daily fantasy sports sites on grounds that it threatened competition and consumers. In a statement, FanDuel CEO Nigel Eccles said the companies believed — even until the end […]
Read moreAt some major banks, you no longer need to have your debit card in hand to use the ATM. But that won’t necessarily protect your account from fraudsters. Several financial institutions have introduced smart ATMs to their branches in recent months. The cardless ATM sends a code to the consumer’s phone via the bank’s mobile […]
Read moreThe annual Allen & Co conference in Sun Valley, Idaho, gathers CEOs across media and technology, plus big-name investors, making it a natural destination for dealmaking. The conversations that happen behind closed doors here have birthed the biggest media deals of the past quarter century, including Comcast’s acquisition of CNBC’s parent NBC Universal, Verizon’s purchase […]
Read moreHealth care stocks have been on a tear lately, after underperforming the overall markets since the presidential election season got underway in the summer of 2015. The sector’s multi-year underperformance ended after a nose dive following the elections (likely on the fear of big changes coming to the Affordable Care Act). As the “Trump Trade” […]
Read more21st Century Fox has seen its shares tank after reports emerged Rupert Murdoch will not strike a new deal with Britain’s culture secretary over his company’s takeover bid of British news organization Sky News. Fox’s preferred stock dropped sharply after The Guardian reported Murdoch’s decision, which delays Fox’s chances to buy the roughly 60 percent […]
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Energy stocks might be on course for another fourth quarter rally this year, in part because investors are too focused on negative headlines, according to Tamar Essner, senior energy director at Nasdaq Corporate Solutions. “It kind of feels like deja vu of last year where energy underperformed for most of the year and then in […]
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U.S. companies in line to bring home trillions in cash stored overseas would use the windfall primarily to pay down debt, return cash to shareholders and do deals, according to a survey released this week. A central part of President Donald Trump‘s tax reform plan is to allow companies to repatriate profits earned abroad without […]
Read moreWhen Jen O’Neal was raising money for her travel start-up two years ago, she was invited to pitch to all the partners and associates at a prominent Silicon Valley venture capital firm. The conference table was huge and the slides for her presentation were projected onto a massive screen. As she began to address the […]
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