Ousted Uber officials Travis Kalanick and Emil Michael were involved in making a mega-deal with the “Google of Russia” on ride-hailing, executives told CNBC. The two companies announced an agreement on Thursday to combine their ride-hailing services into a joint entity in Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan. The combined company, controlled by Russia-based […]
Read moreActivision Blizzard is set for an unexpected bump in earnings thanks to its recent sale of city-based professional gaming teams, according to Jefferies research. The entertainment giant sold seven of its 28 city-based Overwatch League teams for a reported $20 million each. That should add $140 million of revenue that analysts haven’t factored into their […]
Read moreChinese Nobel Peace laureate Liu Xiaobo, who was being treated for late-stage liver cancer, died on Thursday of multiple organ failure, the government said, having not been allowed to leave the country for treatment as he wished. Liu, 61, was jailed for 11 years in 2009 for “inciting subversion of state power” after he helped […]
Read morePC shipments are at the lowest levels since 2007. Gartner said this week that the PC market declined 4.3 percent during the second quarter.The research company said that shipments were at the “lowest quarter volume since 2007,” noting the market declined for the 11th quarter in a row. The report is in stark contrast to […]
Read moreFacebook’s Oculus will release a $200 wireless headset in 2018, Bloomberg reported, marking a leap in affordability and technology for the virtual reality brand. The device, code-named “Pacific,” will be designed for immersive gaming, watching videos and social networking, according to Bloomberg’s unidentified sources. Game designers will be briefed by October, according to Bloomberg. Facebook […]
Read moreAccording to new research by Harvard University, almost 40 million Americans cannot afford to pay for housing. Homeownership has gone down and rental prices keep going up, meaning that millions of residents are forced to pay way more than they should. Homeownership keeps declining, according to the Joint Center for Housing Studies’ detailed and comprehensive […]
Read moreWanted: a seasoned executive to take the top position at a troubled technology start-up. Must be willing to fix a broken culture, deal with an aggressive predecessor, battle a risky lawsuit and prepare the company for an initial public offering. Self-starters preferred. This is essentially the pitch that Uber is making to potential chief executive […]
Read moreU.S. producer prices unexpectedly rose in June as sustained increases in the cost of services offset declining energy prices, suggesting a recent moderation in inflation was likely temporary. The Labor Department said on Thursday its producer price index for final demand ticked up 0.1 percent last month after being unchanged in May. In the 12 […]
Read moreThe number of Americans filing for unemployment benefits fell last week for the first time in a month, the latest indication of labor market strength that is sustaining economic growth. Initial claims for state unemployment benefits dropped 3,000 to a seasonally adjusted 247,000 for the week ended July 8, the Labor Department said on Thursday. […]
Read moreThe Securities and Exchange Commission takes a fine-toothed comb through any suspicious activity, but rarely do allegations include a suspect searching online how to avoid the agency. Massachusetts Institute of Technology research scientist Fei Yan was arrested Wednesday on federal charges of insider trading. Prosecutors say Yan searched “how sec detect unusual trade” before he […]
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