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Supreme Court lets Sandy Hook shooting lawsuit go forward
Supreme Court lets Sandy Hook shooting lawsuit go forward

The Supreme Court said Tuesday that a survivor and relatives of victims of the Sandy Hook Elementary School shooting can pursue their lawsuit against the maker of the rifle used to kill 26 people. The justices rejected an appeal from Remington Arms that argued it should be shielded by a 2005 federal

Alibaba-backed EV startup XPeng raises nearly $400 mln for growth -sources

HONG KONG/BEIJING, Nov 12 (Reuters) - Chinese electric vehicle (EV) manufacturer XPeng, backed by Alibaba Group Holding Ltd, has raised nearly $400 million from investors including Xiaomi Corp to fund its growth, said two people with knowledge of the matter. The fundraising comes at what bankers and industry insiders describe as an increasingly tough financing environment for Chinese EV startups which must jostle for attention in a crowded sector and produce convincing arguments about future profitability despite government cuts to EV subsidies and plans to phase them out. The latest fundraising values the five-year-old firm, founded by 42-year-old tech entrepreneur He Xiaopeng, at...

Disney+ says it
Disney+ says it's working to 'quickly resolve' its launch day streaming issues

Disney+ has officially launched in the U.S....and it's struggling under the load. As is often the case with new streaming services, launch days bugs and crashes are today plaguing Disney+. This morning, users are reporting error messages when they try to stream content along with other connection

S
S'More is a new dating app that looks to suspend physical attraction for something more

According to former Chappy Managing Director Adam Cohen Aslatei, "something more" is one of the most common pieces of feedback that dating apps get from their users. S'More was founded by Aslatei to provide a dating app to users that goes beyond superficial looks. Unlike other dating

No one knows how effective digital therapies are, but a new tool from Elektra Labs aims to change that
No one knows how effective digital therapies are, but a new tool from Elektra Labs aims to change that

Depending on which study you believe, the wearable and digital health market could be worth anywhere from $30 billion to nearly $90 billion in the next six years. Andy Coravos, the co-founder of Elektra Labs, certainly has. Coravos, whose parents were a dentist and a nurse practitioner, has been thinking

Argentina Is Running Dangerously Low on Dollars to Pay Back Debt
Argentina Is Running Dangerously Low on Dollars to Pay Back Debt

(Bloomberg) -- Argentina must repay $5 billion by the end of 2019. It doesn't have much to work with.While the country's foreign reserves total a still somewhat robust $43 billion, that figure shrinks markedly once untouchable assets such as dollar deposits of everyday Argentines and a credit line from China are stripped out. Analysts surveyed by Bloomberg News estimate that the amount that policy makers can actually freely spend is no more than $12.5 billion. One of the analysts, Siobhan Morden of Amherst Pierpont Securities, puts the figure at as little as $6.5 billion."If you run out of money, you run out of money," Morden, who runs the firm's Latin America fixed-income strategy from...

Facing $5 Billion Tab, Argentina
Facing $5 Billion Tab, Argentina's Reserves Are Drying Up Fast

(Bloomberg) -- Argentina must repay $5 billion by the end of 2019. It doesn't have much to work with.While the country's foreign reserves total a still somewhat robust $43 billion, that figure shrinks markedly once untouchable assets such as dollar deposits of everyday Argentines and a credit line from China are stripped out. Analysts surveyed by Bloomberg News estimate that the amount that policy makers can actually freely spend is no more than $12.5 billion. One of the analysts, Siobhan Morden of Amherst Pierpont Securities, puts the figure at as little as $6.5 billion."If you run out of money, you run out of money," Morden, who runs the firm's Latin America fixed-income strategy from...

Whoop, the sports tech and analytics company that makes discreet wearables, raises $55M
Whoop, the sports tech and analytics company that makes discreet wearables, raises $55M

On the heels of Google buying Fitbit for $2.1 billion, another player in wearables and health technology has picked up a big round of growth funding to continue expanding its business. Whoop, which makes a sensor-equipped (and screen-free) strap that continuously tracks your activities 24/7 and then

U.K. Domestic Stocks Get a Boost From Nigel Farage, But It
U.K. Domestic Stocks Get a Boost From Nigel Farage, But It's Not Over Yet

(Bloomberg) -- U.K.-focused stocks are higher on optimism that Boris Johnson's Conservative Party has a better chance of winning a majority in next month's election after the Brexit Party said it wouldn't fight them. But market strategists say it's not over yet.The market reaction to Monday's announcement was "solid rather than spectacular," Raymond James strategist Chris Bailey said by email, noting that the Brexit Party could still hurt the Conservatives by running in seats won by Jeremy Corbyn's Labour Party last time around.The domestic FTSE 250 benchmark has held gains of about 0.9% since Farage's speech, while some stocks considered most-exposed to the U.K. economy jumped on the...

Dean Foods files for Chapter 11
Dean Foods files for Chapter 11

The Texas-based firm said it was in talks over a potential sale of its assets with Dairy Farmers of America, a company owned by farmers. Dean Foods has been struggling in recent years as health-conscious U.S. consumers shift to non-dairy and private-label alternatives. "We continue to be impacted

Some of the World
Some of the World's Richest Brace for a Major Stock Sell-Off

(Bloomberg) -- Wealthy people around the globe are hunkering down for a potentially turbulent 2020, according to UBS Global Wealth Management.A majority of rich investors expect a significant drop in markets before the end of next year, and 25% of their average assets are currently in cash, according to a survey of more than 3,400 global respondents. The U.S.-China trade conflict is their top geopolitical concern, while the upcoming American presidential election is seen as another significant threat to portfolios."The rapidly changing geopolitical environment is the biggest concern for investors around the world," said Paula Polito, client strategy officer at UBS GWM, in a statement....

Dutch court orders Facebook to ban celebrity crypto scam ads after another lawsuit
Dutch court orders Facebook to ban celebrity crypto scam ads after another lawsuit

A Dutch court has ruled that Facebook can be required to use filter technologies to identify and pre-emptively take down fake ads linked to crypto currency scams that carry the image of a media personality, John de Mol, and other well known celebrities. The Dutch celerity filed a lawsuit against Facebook

Instagram Stories launches TikTok clone Reels in Brazil
Instagram Stories launches TikTok clone Reels in Brazil

Instagram is launching a video-music remix feature to finally fight back against Chinese social rival TikTok. Instagram Reels lets you make 15-second video clips set to music and share them as Stories, with the potential to go viral on a new Top Reels section of Explore. Just like TikTok, users can

Price of Gold Fundamental Daily Forecast - Selling Pressure May Be Slowing as Traders Await Fresh Trade News
Price of Gold Fundamental Daily Forecast - Selling Pressure May Be Slowing as Traders Await Fresh Trade News

The downtrend is pretty clear, but in order to continue to generate the downside pressure, yields must continue to rise, the dollar has to remain strong and demand for equities must continue to strength. This is because there are wildcards out there that could shift investor sentiment fairly quickly.

Japan steelmakers cut profit forecast as weak Asian markets trim margins
Japan steelmakers cut profit forecast as weak Asian markets trim margins

The top three Japanese steelmakers reduced their annual profit forecasts this month as slumping steel prices in Asia eroded their export margins while slower auto demand overseas and falling usage in machinery at home forced them to cut output. The firms are suffering from a softening global economy hit by the U.S.-China trade row and rising costs of raw materials such as iron ore as top producer China boosts crude steel output to meet infrastructure demand and support its economy. Japan's top steelmaker, Nippon Steel, slashed its business profit estimate by 33% to 100 billion yen ($917 million) for the year to March 31, after reporting a 54% decline in the April-September period.

Snapchat Spectacles 3 review: Pretty, pricey
Snapchat Spectacles 3 review: Pretty, pricey

Spectacles 3 go on sale today for $380 in black 'Carbon' or rose gold-ish 'Mineral' color schemes on Spectacles.com, Neiman Marcus, and Ron Robinson in the UK, shipping in a week. You also get a very nice folds-flat leather USB-C charging case that powers up the glasses four times, and

Nissan Cuts Profit, Dividend Forecast as Turnaround Stalls
Nissan Cuts Profit, Dividend Forecast as Turnaround Stalls

Nov.12 -- Nissan Motor Co. slashed its profit and sales outlook for the current fiscal year, as the Japanese automaker struggles to get back on track almost a year after the arrest of former Chairman Carlos Ghosn. Dani Burger reports on "Bloomberg Markets: European Open."

Stocks Edge Up in Trade-War Lull; Treasuries Drift: Markets Wrap
Stocks Edge Up in Trade-War Lull; Treasuries Drift: Markets Wrap

(Bloomberg) -- European stocks and U.S. equity-index futures edged higher on Tuesday and most Asian shares rose amid a lull in trade-war headlines and simmering tension in Hong Kong. Treasuries fluctuated after a long weekend.The Stoxx Europe 600 Index was drifting overall but most major national benchmarks

Indian Oil Minister on Saudi Supplies, Domestic Demand, Gas Transition
Indian Oil Minister on Saudi Supplies, Domestic Demand, Gas Transition

Nov.12 -- Dharmendra Pradhan, India's minister for petroleum and natural gas, discusses Saudi Arabia oil supplies, domestic demand for energy and his country's transition toward a gas-based economy and away from crude. He speaks with Manus Cranny at the Abu Dhabi International Petroleum Exhibition & Conference on "Bloomberg Daybreak: Europe."

Disney officially launches its streaming
Disney officially launches its streaming 'crown jewel,' Disney+

The centerpiece of Disney's streaming strategy is here. Disney+ is available on the web, iOS, Android, Roku, various smart TVs - and, as just announced last week, Amazon Fire TV, all for a monthly price of $6.99.

Nigeria
Nigeria's Interswitch confirms $1B valuation after Visa investment

Nigerian digital payments firm Interswitch confirmed today it has reached unicorn status after Visa acquired a minority equity stake in the firm. "The investment makes Interswitch one of the most valuable African fintech businesses with a valuation of $1 billion," Interswitch said in a release

Fintech Startup TransferWise CEO Kaarmann on Strategy
Fintech Startup TransferWise CEO Kaarmann on Strategy

Nov.11 -- Kristo Kaarmann, co-founder and chief executive officer of U.K.-headquartered TransferWise Ltd., one of Europe's largest financial technology startups, discusses the company's growth strategy. He speaks from the sidelines of Singapore's third annual fintech festival with Rishaad Salamat and David Ingles on "Bloomberg Markets: Asia."

Tencent and Alibaba Gap Widen After NBA Clash
Tencent and Alibaba Gap Widen After NBA Clash

Nov.11 -- Tencent shares have vastly under-performed rival Alibaba this year, creating a gap of more than $90 billion in their respective market valuations. Tencent has been dealt a number of headwinds this year, including rising competition and a clash with the NBA. Meanwhile, Alibaba has posted record sales of $38 billion in sales on Singles' Day. Bloomberg's Selina Wang reports and breaks down her interview with Alibaba Chief Marketing Officer Chris Tung.

Uber CEO stokes #boycottuber fire with
Uber CEO stokes #boycottuber fire with 'mistakes happen' comment

Uber CEO Dara Khosrowshahi's comments during an interview with Axios - and his subsequent apology - have done more than hand the company's critics more ammunition in the renewed #boycottUber campaign. During an interview, Khosrowshahi called the murder of journalist and U.S. resident Jamal

Adidas backpedals on robotic shoe production with Speedfactory closures
Adidas backpedals on robotic shoe production with Speedfactory closures

An expensive experiment in global distribution has been abandoned by Adidas, which has announced that will close its robotic "Speedfactories" in Atlanta and Ansbach, Germany, within 6 months. The company sugar-coated the news with a promise to repurpose the technology used at its existing

Anheuser-Busch to buy out Craft Brew Alliance in $321 million deal
Anheuser-Busch to buy out Craft Brew Alliance in $321 million deal

Shares of Craft Brew Alliance soared 122.6% to $16.32 after the bell, hovering near the offer price of $16.50 in cash. The deal is a reversal in stance by the world's largest brewer, which owns 31.2% stake in Craft Brew and had said in August it would not buy out the company. Craft Brew's portfolio

One of America
One of America's Biggest Solar Panel Makers Quits Manufacturing

(Bloomberg) -- SunPower Corp., one of America's largest solar-panel makers, is giving up its manufacturing business to focus on installing rooftop systems.The company is spinning off its panel production operations into a new company, Maxeon Solar, that will be based in Singapore with factories in France, Malaysia, Mexico and the Philippines, according to a statement Monday. As part of the deal, a Chinese supplier of silicon wafers will make a $298 million equity investment, valuing Maxeon at $1.03 billion.SunPower described the move as a natural evolution of the maturing solar business. Panel makers once had to help create their own market by installing the equipment they manufactured....

D2C companies deliver customer delight and simplicity
D2C companies deliver customer delight and simplicity

Thankfully, there are so many fun direct to consumer (D2C) categories - from bath salts to plants, to even organic fertilizer. A New York City-based VC firm once asked us, "there are so many products that are getting launched in the direct to consumer route. There are many reasons why a brand

'Death Stranding' brings back appointment gaming

Not so with Hideo Kojima's long-awaited Death Stranding, which if you're going to play at all... you should probably play now. Being part of that vanguard of players who go in unsure of what to expect, learning by doing, and sharing that information with others has a special feeling, not of

Facebook machine learning aims to modify faces, hands and... outfits
Facebook machine learning aims to modify faces, hands and... outfits

The latest research out of Facebook sets machine learning models to tasks that, to us, seem rather ordinary - but for a computer are still monstrously difficult. The research here was presented recently at the International Conference on Computer Vision, among a few dozen other papers from the company

Facebook finally lets you banish nav bar tabs & red dots
Facebook finally lets you banish nav bar tabs & red dots

Are those red notification dots on your Facebook home screen driving you crazy? Now you can control what appears in the Facebook app's navigation bar thanks to a new option called Shortcut Bar Settings. Over the weekend TechCrunch spotted the option to remove certain tabs like Marketplace, Watch

Nikki Haley Has a Point
Nikki Haley Has a Point

Nikki Haley isn't a Deep Stater. She's not a saboteur. She wouldn't undermine the duly elected president, no siree! That's the message that comes along with Haley's new memoir With All Due Respect. In that book, she gives the politician's review of her career so far, shares some details about her brief Trump-era time serving as U.S. ambassador at the United Nations, and gives some ideas about her life story.The juiciest detail is that then-secretary of state Rex Tillerson and then-White House chief of staff John Kelly approached Haley and tried to involve her in their intrigues to "save the country" from the president himself. She tries to explain their rationale. "It was their decisions,...

How Trump
How Trump's Stock Market Record Stacks Up

(Bloomberg Opinion) -- It's been three years now since Donald Trump was elected president, which means it's been three years of listening to Donald Trump bragging about how great the stock market is doing. Contrary to one now-infamous pre-election prediction, it has done quite well.The Dow Jones Industrial

How Trump
How Trump's Stock Market Record Stacks Up

(Bloomberg Opinion) -- It's been three years now since Donald Trump was elected president, which means it's been three years of listening to Donald Trump bragging about how great the stock market is doing. Contrary to one now-infamous pre-election prediction, it has done quite well.The Dow Jones Industrial Average, Standard & Poor's 500 Index and other market indices are of course imperfect economic indicators. They reflect investors' beliefs about how well publicly traded corporations are doing and will do in the future, not necessarily the reality of how publicly traded corporations are doing - or of how well the rest of us are doing. The indices most cited in the media also mainly...

Google Chrome to identify and label slow websites
Google Chrome to identify and label slow websites

Is it the web page that's slow or is it your network connection? In the future, Google's Chrome web browser may have an answer for you. Google announced today a plan to identify and label websites that typically load slowly by way of clear badging.

AP-NORC poll: Many youths say high school diploma is enough
AP-NORC poll: Many youths say high school diploma is enough

Although most young Americans believe in the value of higher education, many still consider a high school diploma alone to be enough for success, according to a survey of teens and young adults by The Associated Press-NORC Center for Public Affairs Research. The findings alarm some experts who say young

WeWork Has Talked With T-Mobile's Legere in Search for New CEO

(Bloomberg) -- WeWork is searching for a new chief executive officer to turn around the troubled co-working company, said people familiar with the matter. One of the candidates under consideration is John Legere, the head of T-Mobile US Inc. who has spoken with WeWork about the role, said the people, who asked not to be identified because the plans are private.Legere has deep ties to WeWork majority shareholder SoftBank, which took control of the company after WeWork's initial public offering broke down. Legere is currently seeing through a contentious sale of his wireless carrier to Sprint Corp., whose majority owner is SoftBank. Sprint's executive chairman, Marcelo Claure, was recently...

WeWork in talks to hire T-Mobile
WeWork in talks to hire T-Mobile's John Legere as CEO: WSJ

ViacomCBS shakes up its content leadership teams following merger
ViacomCBS shakes up its content leadership teams following merger

Following the merger of CBS and Viacom announced earlier this year, the combined company today confirmed its plans to restructure its content and digital leadership teams in order to streamline operations. Among the changes, which were first reported by The Wall Street Journal on Sunday, are the departures

Stingray-inspired spacecraft could eventually probe the atmosphere of Venus
Stingray-inspired spacecraft could eventually probe the atmosphere of Venus

NASA's next Venus probe could be an atmosphere-skimming robotic stingray designed by the University of Buffalo. UB's CRASH Lab, which is the institution's Crashworthinesss for Aerospace Structures and Hybrids laboratory, has been selected by NASA to get early stage funding as part of a

Beyond Meat Insiders Rush to Sell Even as CEO Stands Pat
Beyond Meat Insiders Rush to Sell Even as CEO Stands Pat

(Bloomberg) -- Beyond Meat Inc. CEO Ethan Brown may not be selling his company shares anytime soon but that isn't stopping other executives from cashing out gains after restrictions ended last month.CFO Mark Nelson is the latest executive to sell 70,000 shares for $5.7 million, reducing his stake in Beyond Meat by 16%, according to a filing. Last week, Chief People Officer Cari Soto sold 10,000 shares for $824,471, a separate filing showed. Chief Growth Officer Charles Muth sold 50,000 shares, while board member Bernhard van Lengerich shed more than 133,000 shares, according to regulatory filings.Other insiders who sold shares include Twitter co-founder and board member Biz Stone....

Alibaba
Alibaba's Singles' Day sales top $38 billion

After 24 hours of frenzied buying and selling, and weeks of aggressive advertising and promotions before it, the Alibaba Group said today its sales hit another record high on Singles' Day, the biggest shopping day on the planet. The Chinese e-commerce giant said its platforms sold goods worth 268

A Court Ruling Makes Mortgages Vanish Into Thin Air
A Court Ruling Makes Mortgages Vanish Into Thin Air

(Bloomberg Opinion) -- For generations, budding lawyers have been taught that if the bank forecloses on your mortgage and can't sell your house for the amount of the loan, the bank can come after you personally for the rest. Apart from a handful of "non-recourse" states (California being the most prominent

Dutch court orders Facebook to pull financial fraud adverts
Dutch court orders Facebook to pull financial fraud adverts

A Dutch court has ordered Facebook to remove advertisements that misuse the likeness of a local celebrity to promote fraudulent Bitcoin-related investments. Dutch billionaire tycoon John de Mol sued Facebook, saying it had failed to respond to repeated requests to pull advertisements that misused his and other local celebrities' likenesses and led to investors losing $1.7 million euros. The court ordered Facebook to pull the offending ads or be fined up to 1.1 million euros ($1.2 million).

KKR Makes Formal Approach to Walgreens Boots on Record Buyout
KKR Makes Formal Approach to Walgreens Boots on Record Buyout

(Bloomberg) -- KKR & Co. has formally approached drugstore giant Walgreens Boots Alliance Inc. about a deal to take the company private, in what could be the biggest-ever leveraged buyout, people familiar with the matter said.The New York-based private equity firm has been preparing a proposal to potentially

Travis Kalanick Sells 20% of His Stake in Uber After Lockup
Travis Kalanick Sells 20% of His Stake in Uber After Lockup

(Bloomberg) -- Travis Kalanick sold about 20% of his stake in Uber Technologies Inc. last week.Kalanick, 43, a director at the ride-hailing company, sold 20.3 million shares worth about $547 million that were held in a trust, according to a regulatory filing on Friday.The trades came after a 180-day

Twitter drafts a deepfake policy that would label and warn, but not always remove, manipulated media
Twitter drafts a deepfake policy that would label and warn, but not always remove, manipulated media

Twitter last month said it was introducing a new policy to help fight deepfakes and other "manipulated media" that involve photos, videos or audio that's been significantly altered to change its original meaning or purpose, or those that make it seem like something happened that actually

OpenText buys data security firm Carbonite for $1.42B
OpenText buys data security firm Carbonite for $1.42B

Carbonite has agreed to a $1.42 billion purchase by OpenText, an enterprise information management giant, ending weeks of speculation about the anticipated buyout. The deal marks a 78% premium on Carbonite's share price on September 5, when it was first rumored the company was preparing to buy

California
California's Newsom Wants to Stall $11 Billion PG&E Fire Payout

(Bloomberg) -- California Governor Gavin Newsom has asked a federal judge to delay signing off on PG&E Corp.'s $11 billion insurance claim settlement, saying the deal is premature.In a filing Saturday, the governor raised issues with a proposed settlement of so-called subrogation claims that would see

Subway reportedly institutes new policy for owners of shuttering restaurant locations
Subway reportedly institutes new policy for owners of shuttering restaurant locations

Subway franchisees will now have to take additional steps to close their stores in a bid by the restaurant chain to prolong the process and delay the rate of closing.


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