Jack Ma, founder of Chinese e-commerce behemoth Alibaba, sees serious change on the horizon. In the next 30 years, artificial intelligence will outpace human knowledge, leading to job loss, the billionaire tells CNBC’s David Faber. “The new wave is coming. Jobs will be taken away,” Ma says. “Some people, who catch up [with] the wave, […]
Read moreA leading shareholder advisory firm is buying up environmental data and analytics companies, because its says investors are increasingly concerned about the impact climate change will have on their portfolios. Institutional Shareholder Services said it is buying the investment climate data division of South Pole Group, a Zurich-based environmental advisory firm on Monday. The division, […]
Read moreAlphabet wants to expand its Silicon Valley footprint in a big way after winning the right to negotiate with San Jose, California, for large tracts of land just west of the city’s downtown. If Google buys the parcels, it plans to build a campus of buildings with between 6 million and 8 million square feet […]
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Twitter shares popped Wednesday after a research firm said advertisers gave “more constructive” feedback on the social media company’s strategy. Twitter shares briefly climbed more than 6.5 percent and last traded about 5.4 percent higher around $17.80 a share, on pace for its best day since May 1. Cleveland Research, a boutique equity research firm, […]
Read moreMartha Stewart says she’s now a friend to Jack Ma and applauds how the CEO has been able to grow Alibaba. “I’m a great admirer of what [Ma’s] accomplished in encouraging sellers to find buyers through Alibaba,” the domestic maven said Wednesday on CNBC’s “Squawk on the Street,” from the sidelines of Alibaba’s Gateway ’17 […]
Read moreIt’s “too soon” to be scared for Wal-Mart based on news that Amazon plans to acquire grocer Whole Foods, Moody’s retail analyst Charles O’Shea said. In fact, Whole Foods wouldn’t give e-commerce giant Amazon “any discernible edge,” as Wal-Mart should remain the world’s biggest retailer and biggest grocer, O’Shea wrote in a Wednesday note to […]
Read moreInvestors should buy PayPal shares as the company will report earnings above Wall Street expectations next year, according to Pacific Crest, which raised its rating on the online payments giant to overweight from sector weight. “PayPal is moving beyond the ‘investment’ phase of Consumer Choice [credit card or bank account funding] and Venmo to the […]
Read moreThis week, Travis Kalanick — the legendary take-no-prisoners CEO whose Silicon Valley home is known as a hotbed of entrepreneurial ideas— stepped down from the company. Susan Fowler, an Uber engineer who now works at Stripe, blew Uber wide open with her blog post, “Reflecting on one very, very strange year at Uber.” But Susan […]
Read moreSprint subsidiary Virgin Mobile announced on Wednesday that it will sell only iPhones. Customers interested in using the service, which operates on Sprint’s network, can buy an iPhone at full price directly from Virgin Mobile or Apple. Virgin Mobile is celebrating the partnership by offering a full year of data, text and voice for just […]
Read moreAs one of the few women in a top job at a major U.S. tech company, IBM CEO Ginni Rometty did not have an easy time getting there. In a wide-ranging interview with “Mad Money” host Jim Cramer, Rometty opens up about her difficult childhood. “When I was young, my father left. And he left […]
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