Warren Buffett’s Berkshire Hathaway and Paul Singer’s Elliott Management both have eyesfor Oncor, the largest electric utility in Texas, and CEO Bob Shapard has a sound process for deciding who will win in the bidding battle for his bankrupt company. “You start with the current bid. Berkshire Hathaway’s a great fit for us, and they’d […]
Read moreWith top analysts turning bearish on the stock market amid concerns about lofty valuations and rising rates, Jim Cramer felt the need to right the record for the bulls’ sake. “I want to address this reluctance to believe in the bull head-on by going over the top 10 reasons why investors always seem to have […]
Read moreNo deal, no surprise. That’s what Jefferies analyst Randal Konik wrote in a note to clients after hearing that Abercrombie & Fitch has at last ended talks over a potential sale. The retailer said in May that it was holding conversations with several bidders — which were rumored to include American Eagle and Express — […]
Read moreShares of Snap fell below their IPO price on Monday, just ahead of a crucial period for the social media stock. Snap shares dipped to a low of $16.95, closing at $16.99, just below the $17 price of the March public offering. The IPO was 12 times oversubscribed at the time, sources told CNBC. But […]
Read moreGoogle has ramped up its legal firepower as it prepares to do battle with EU antitrust regulators after a landmark 2.4-billion-euro ($2.7 billion) fine and the possibility of a second record sanction before the end of the year. Alphabet unit Google, the world’s most popular internet search engine, is drawing on the expertise of at […]
Read moreThe sharing economy has made it easier for communities to peer exchange anything from a spare bedroom in your house to car rides and bicycles. But the model doesn’t work for everything, as one umbrella-sharing startup learned the hard way. Just under three months after launch, China-based E Umbrella has reportedly lost almost all of […]
Read moreAs shoppers gear up for Amazon Prime Day beginning Monday evening, the biggest sales day of the year for the company, Jack Ma is probably snickering somewhere. That’s because his Alibaba has its own Prime Day — and it’s exponentially bigger. November 11 is known as Singles Day in China and it has become a […]
Read moreWomen who feel “awkward” buying bras and underwear at brick-and-mortar retailers are now ringing up their lingerie purchases online instead, and this is helping Amazon gain coveted market share, a new report from sales analytics firm One Click Retail has found. The so-called Amazon effect is striking again, and this time in the clothing department. […]
Read moreInternet controls in China are about to get even more restrictive. The government there has ordered telecommunications firms to bar the usage of Virtual Private Networks by February 1, 2018, according to a Bloomberg report, citing sources close to the matter. VPNs provide a secure encrypted connection, which China’s government says allows users to circumvent […]
Read moreHonda Motor said on Monday it had confirmed an 11th U.S. death involving one of its vehicles tied to a faulty Takata air bag inflator. The Japanese automaker said the incident occurred in Florida in June 2016 when an individual was working on repairs on a 2001 Honda Accord and the air bag ruptured. At […]
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