- 2020-08-12 20:19:14Z
Uber's CEO pushes back against a potential reclassification of drivers, a former COO sues Pinterest and Microsoft reveals details about the Surface Duo. Uber CEO Dara Khosrowshahi appeared on MSNBC today and claimed that if a recent California court ruling reclassifying drivers as full-time employees is not overturned, the company might have to suspend services in that state for several months. Former COO sues Pinterest, accusing it of gender discrimination, retaliation and wrongful termination - Françoise Brougher, who says she was abruptly fired from the company in April, is suing the company to hold it "accountable for discrimination, retaliation, and wrongful termination in...
The past two trading days were rough for vaccine-maker Novavax (NVAX) and its investors. The stock has plunged nearly 30% on the news of a new Russian rival. In a statement reported out of Russian news agency RIA Novosti, Russian President Vladimir Putin announced that Russian researchers have "registered" the world's first vaccine against infection with the novel coronavirus, that full-scale production will begin in September, and distribution in October. President Putin is so optimistic about the new vaccine -- dubbed "Sputnik V" to hark back to Russia's "Sputnik moment" in 1957, when Russia orbited the world's first satellite -- that he says his own daughter has already tried it...
For decades, Burning Man has represented an escape from the current reality. Now, under the shadow of a historic pandemic, the organization behind the massive, iconic event is desperately working to stick to its roots while avoiding financial ruin as it pivots the 2020 festival to a digital format with the pro bono help of some of its tech industry attendees. With just a few weeks before the event is set to kick off, the organization is bringing together a group of technologists with backgrounds in virtual reality, blockchain, hypnotism and immersive theatre to create a web of hacked-together social products that they hope will capture the atmosphere of Burning Man.
Here are eight of Morningstar's top blue-chip stocks to buy and hold that have low uncertainty ratings and dividend yields of at least 3%. Pfizer has gotten a lot of attention lately because of its coronavirus vaccine candidate, but the pharmaceutical firm is also one of the largest and most diversified drug companies in the world. Analyst Damien Conover says Pfizer has both an impressive pipeline of drug candidates and a large portfolio of patent-protected drugs on the market.
You could Zoom call into your science class, or you could conduct a lab experiment in virtual reality. The global need for learning solutions beyond Zoom is precisely why Labster, a Copenhagen-based startup that helps individuals engage in STEM lab scenarios using virtual reality, is growing rapidly. On the heels of this unprecedented momentum, Labster joins a chorus of edtech startups raising right now, and announced it has brought on $9 million in equity venture funding.
For writer-comedian Sarah Cooper, the pandemic hasn't been so terrible. Now, in addition to the millions of online followers she has amassed since March, Cooper -- a Jamaican American who once worked at Google -- has landed a Netflix comedy special. Titled "Sarah Cooper: Everything's Fine," the writer and producer Natasha Lyonne is set to direct the production, and it will be executive produced by the comic-actor Maya Rudolph (who will herself be increasingly busy, reprising her role on "Saturday Night Live" as Senator Kamala Harris).
Samsung makes good smartwatches. Apple's market share has slipped somewhat and Huawei and Samsung have been there to pick up some of the pieces. Here in the States, Huawei is less of a player for reasons that should be painfully obvious.
Weighing in on the markets from investment firm Oppenheimer, chief investment strategist John Stoltzfus believes that despite rough conditions, the market has more fuel left in the tank. Remaining "very bullish on this market," Stoltzfus' stance is supported by the fact that trillions of dollars are
(Bloomberg) -- Apple Inc.'s planned stock split will diminish its influence on the Dow Jones Industrial Average after the iPhone maker's 100% surge since March lows nearly dragged the price-weighted measure back to an all-time high.At its current price of $452 a share, Apple has the biggest weighting
It's 2020 and the world has changed remarkably, including in how companies screen data science candidates. At The Data Incubator, we run a data science fellowship and are responsible for hundreds of data science hires each year. At this point, they are at a serious competitive disadvantage in hiring.
If you're tech-obsessed about the future of moving people, products and packages around the world, you do not want to miss TC Sessions: Mobility 2020 on Oct. 6-7. Two packed days of online programming feature the people leading the charge - creative thinkers, innovative makers, dedicated engineers and savvy investors across the mobility and transportation startup ecosystem. Take advantage of our group discount, bring your crew and save $25 per ticket when you buy four or more passes before prices go up on Sept. 4 at 11:59 p.m. PDT.
Uber could be forced to shut down its ride-hailing app in California for several months if a court doesn't overturn a recent ruling that classifies its drivers as full-time employees, CEO Dara Khosrowshahi said in an interview with MSNBC. "It's hard to believe we'll be able to switch our model to full-time employment quickly," Khosrowshahi said, noting it would force the company to temporarily shut down. Khosrowshahi's comments are consistent to language in a motion filed Tuesday by Uber following the court's ruling.
Michael Waxman, co-founder and CEO of dog food startup Sundays, acknowledged that dog owners have no shortage of options when it comes to feeding their beloved pets - but he still thinks there's room for something new. "There's a sort of 'Water everywhere, but not a drop to drink' phenomenon," Waxman said. Sundays "soft launched" its first product in February and now has around 1,000 paying customers.
Triplebyte, a technical recruiting platform that emphasizes a candidate's skills rather than background, has incubated nonprofit ColorStack, which aims to increase the number of Black and Latinx people enrolled in computer science programs. ColorStack, a mentorship-driven community of Black and Latinx engineering students, officially launched in May, but got its bearings at Cornell, where founder Jehron Petty successfully worked to triple Black and Latinx enrollment in the school's computer science program within three years. Currently, ColorStack's community consists of more than 600 students across more than 250 schools.
McDonald's accused ousted CEO Steve Easterbrook of sending nude photos of employees from his company email account to a personal email, in a lawsuit attempting to recover Easterbrook's multimillion-dollar golden parachute.
(Bloomberg) -- President Donald Trump is tapping his presidential authority to make tax changes that Congress is refusing to do, but his limited power means he could end up over-promising and under-delivering on his pledge to slash IRS bills.Trump has given employers the option to defer hundreds of billions
(Bloomberg) -- With diners staying away from restaurants, the owner of Chili's and Maggiano's is reporting rapid growth of a new service to deliver chicken wings under a different brand name.It's Just Wings is bringing in more than $3 million in sales a week since its launch in June, according to Wyman Roberts, chief executive officer of parent company Brinker International Inc. The brand, delivered to customers through a partnership with DoorDash Inc., utilizes the kitchens of 1,050 Chili's and Maggiano's locations."Sales have grown nicely," Roberts said on a conference call after the company reported quarterly earnings. "It's met or exceeded our expectation pretty much on every...
(Bloomberg) -- Netflix Inc.'s subscriber gains earlier this year had many ready to crown it king of quarantine. Instead, it's the video game sector that's laid claim to the throne.The Solactive Video Games & Esports Index has gained 77% since the start of U.S. state lockdowns in March, while Netflix
The UK government is considering changes to the law that would require online political campaign material to carry labels disclosing who is promoting and funding the messaging. The proposal, which is being put through a public consultation until November, follows years of warnings over the lack of regulation around online political ads. The government said the measures would mean voters get the same transparency from online campaign material as they do from leaflets posted through their letterbox.
Tesla Inc (NASDAQ: TSLA) shares are up 6% on Wednesday after the company announced a 5-for-1 stock split on Tuesday afternoon. The stock split will be implemented after the market close Aug. 31.Companies with relatively high stock prices like Tesla often implement stock splits to bring their share prices
Wall Street's main indexes jumped on Wednesday, with the S&P 500 crawling towards a record high in a broad rally led by tech stocks, although some investors were cautious following a stalemate over the new coronavirus relief bill. The S&P 500 is about 0.9% below its intraday record high of 3,393.52
The late, great, Neil Peart wrote, in Tom Sawyer, "He knows changes aren't permanent, but change is." His words are an apt description of our modern world, an ever-changing landscape of pending tech. Right now, the shiny new change is 5G.Even the coronavirus couldn't fully derail the coming build-out of the new 5G networks. It only delayed it. China and Korea are leading the world right now in bringing 5G networks online, with the US expanding its own new systems and Europe lagging behind. In the US, most urban areas have at least partial 5G connectivity online, and the major service providers are working to connect those centers.For investors, the key here will be finding companies that...
Oura has released multiple generations of the Ring, which is a health and fitness tracker that reports a range of data, and I've spent the past month using one to see what all the fuss is about. The Oura Ring is a health tracker that's unlike just about any other wearable with a similar purpose. The Ring has sensors located on the inside surface, but these barely add to its overall thickness and are totally hidden when the ring is worn.
For the third time since last February, Gong has raised a significant sum. Coatue led today's cash infusion with help from new investors Index Ventures, Salesforce Ventures and Thrive Capital, and existing investors Battery Ventures, NextWorld Capital, Norwest Venture Partners, Sequoia Capital and Wing Venture Capital. When we spoke to Gong about its Series B round, it had 300 customers.
As the coronavirus hampers the fitness industry, leading to a rapid evolution toward digital classes, ClassPass is pressing onward with its product roadmap, albeit a bit ahead of schedule. The company, which has raised more than $500 million from investors such as General Catalyst, Thrive, GV, Temasek, Apax Digital and L Catterton, is introducing personal training sessions via a partnership with Fyt. "We've been thinking about adding personal training to the platform for quite a while now, and this seems like an excellent time to do so to really diversify our options to our members and give them a wider set of opportunities to work out and keep their workouts," said Kinsey Livingston,...
The United States and Moderna announced the agreement for 100 million doses of its potential COVID-19 vaccine late on Tuesday. The company's vaccine candidate, mRNA-1273, is one of the few that have already advanced to the final stage of testing. The deal confirms Moderna's experimental vaccine
Until late last year social video app TikTok was using an extra layer of encryption to conceal a tactic for tracking Android users via the MAC address of their device which skirted Google's policies and did not allow users to opt out, The Wall Street Journal reports. Its analysis found that this concealed tracking ended in November as US scrutiny of the company dialled up, after at least 15 months during which TikTok had been gathering the fixed identifier without users' knowledge. A MAC address is a unique and fixed identifier assigned to an Internet connected device -- which means it can be repurposed for tracking the individual user for profiling and ad targeting purposes, including...
(Bloomberg) -- A key supplier to Apple Inc. and a dozen other tech giants plans to split its supply chain between the Chinese market and the U.S., declaring that China's time as factory to the world is finished because of the trade war.Hon Hai Precision Industry Co. Chairman Young Liu said it's gradually adding more capacity outside of China, the main base of production for gadgets from iPhones to Dell desktops and Nintendo Switches. The proportion outside the country is now at 30%, up from 25% last June.That ratio will rise as the company -- known also as Foxconn -- moves more manufacturing to Southeast Asia and other regions to avoid escalating tariffs on Chinese-made goods headed to...
(Bloomberg) -- A key supplier to Apple Inc. and a dozen other tech giants plans to split its supply chain between the Chinese market and the U.S., declaring that China's time as factory to the world is finished because of the trade war.Hon Hai Precision Industry Co. Chairman Young Liu said it's gradually
As lawmakers and White House negotiators look to restart talks on another coronavirus package, WSJ's Gerald F. Seib explains what's at stake for the Democrats and why a stalemate could work in President Trump's favor. Photo: Jim Watson/Getty Images
(Bloomberg) -- U.S. and Chinese negotiators plan to discuss progress of their trade deal in the coming days, with Beijing pushing to widen the agenda to include Washington's recent crackdown on businesses including TikTok and WeChat.A virtual meeting will likely take place as soon as this week though
The move comes after the firm paid more than $71bn for most of Rupert Murdoch's film and TV business.
Shares in Moderna (MRNA) spiked 11% in Tuesday's after-hours trading after the company announced a $1.525 billion supply deal with the U.S. government for 100 million doses of its Covid-19 vaccine mRNA-1273.According to the statement, the award is for the manufacturing and delivery of 100 million doses
An Eastman Kodak Co. (NYSE: KODK) board member and his wife donated nearly half their stock holding in the company, amounting to 3 million shares, to a religious charity on a day when the company's stock hit its highest valuation since 2014, the Wall Street Journal reported Tuesday. What Happened George Karfunkel and his wife Renee Karfunkel made the donation to New York-based Congregation Chemdas Yisroel on July 29, according to a filing with the United States Securities and Exchange Commission. The donation, thought to be the largest made to a religious organization based on a list maintained by the Chronicle of Philanthropy, is valued at about $116.3 million, based on the Kodak stock's...
(Bloomberg) -- Gold sank below $1,900 an ounce to head for its biggest two-day loss in more than seven years as investors step back from one of the hottest trades of 2020.After setting a record above $2,000 an ounce last week, gold's rally has come to a juddering halt as U.S. bond yields advanced, eroding the haven's appeal. The swift drop followed modest outflows from gold-backed exchange-traded funds, and a 15-day run in overbought territory for the relative strength index.Gold had been one of the best-performing commodities this year, with the haven favored as the coronavirus pandemic pummeled the global economy, prompting central banks and governments to deploy massive stimulus. Its...
(Bloomberg) -- DCD Wind Towers should have been a South African success story.When DCD opened its doors in the Eastern Cape in 2013, it was the first factory set up to take advantage of the country's abundant wind-power resources. Government policy was fueling a clean-energy bonanza, and DCD brought
New Zealand officials are investigating the possibility that its first Covid-19 cases in more than three months were imported by freight, as the country plunged back into lockdown on Wednesday. The discovery of four infected family members in Auckland led Prime Minister Jacinda Ardern to swiftly reimpose tight restrictions on movement in New Zealand's biggest city and travel limitations across the entire country. The source of the outbreak has baffled health officials, who said they were confident there were was no local transmission of the virus in New Zealand for 102 days and that the family had not travelled overseas. "We are working hard to put together pieces of the puzzle on...
Tesla's stock, which traded at $1,475 after the announcement, is among the highest priced on Wall Street, and the Palo Alto, California-based company said in a press release it was looking to make its shares more accessible to employees and investors. Tesla's stock has surged over 200% this year, while shares of General Motors and Ford Motor declined on fallout from the coronavirus pandemic. Stock splits are a way for companies to make shares more accessible to retail investors, potentially attracting individual investors who make small trades.
Rivian has asked a judge to dismiss a lawsuit filed by Tesla, arguing that two of the three claims in the case fail to state sufficient allegations of trade-secret theft and poaching talent and instead was an attempt to malign its reputation and hurt its own recruiting efforts. One remaining claim of breach of contract against four former Tesla employees was not included in this filing asking for "demurrer" or a dismissal because they do not relate directly to Rivian. Tesla did not respond to a request for comment.
Joe Biden's decision to name California Senator Kamala Harris as his running mate in the quest to unseat President Trump means that the next vice president could be not only the first Black and Asian American woman on a presidential ticket in the U.S - historic milestones by any account - but also a Californian who built a career in the tech industry's front yard. Born in Oakland, Harris served as San Francisco district attorney and later as the attorney general for California before being elected to the Senate in 2016. Harris attracted considerable support from Silicon Valley executives in her bid for the Democratic nomination, outpacing other candidates in donations from employees...
(Bloomberg) -- Tesla Inc. is splitting its elevated shares in a 5-for-1 exchange, a move timed to make the stock less expensive for individual investors after the company become the world's most valuable automaker. Its shares surged on the news in aftermarket trading.Each shareholder of record on Aug. 21 will receive a dividend of four additional shares of common stock for each share, the Silicon Valley electric-car manufacturer said Tuesday. Trading will begin on a split-adjusted basis on Aug. 31.The split is a timely decision to capitalize on Tesla's recent surge, which has pushed its valuation to around $256 billion, surpassing the value of Ford Motor Co. and Toyota Motor Corp....
(Bloomberg) -- The rally that pushed gold to record heights above $2,000 an ounce has come to an abrupt halt, with the haven metal posting the biggest drop in seven years after bond yields spiked higher.Treasury bond yields climbed, cutting into the negative real rates that had supported the metal. The 10-year Treasury yield jumped the most since June ahead of an expected flood of government and corporate debt issuance. U.S. producer prices increased faster than expected."Today real rates clearly moved higher and that's clearly what moved gold lower," Michael Widmer, head of metals research at Bank of America Merrill Lynch, said by phone from London. "You had stronger PPI data out and I...
There's a new FDA-approved pain medication on the scene. On Monday, Trevena (TRVN) announced that Olinvyk (oliceridine), the company's opioid agonist, finally received the FDA's nod of approval for the management of acute pain in adults who need an intravenous opioid pain reliever. The drug is to be
(Bloomberg) -- Tesla Inc. says hedge fund Cable Car Capital LLC, which is shorting the company's stock, is funding a former employee's allegations that the company smeared him by accusing him of sabotage and stealing sensitive information.The carmaker said in a filing Monday that Martin Tripp's 2018
California Sen. Kamala Harris announced as Joe Biden's pick for vice president.
Moderna announces supply agreement with U.S. government for initial 100 million doses of mRNA vaccine against COVID-19 (mRNA-1273)
The last few months have provided a steady trickle of information about the next Xbox console - or the Xbox Series X, as it's known. Microsoft had said it'd be ready by the holidays, but held off on getting much more specific than that. Microsoft doesn't say exactly when in November, so
Tesla's stock, which traded at $1,475 after the announcement, is among the highest priced on Wall Street, and the Palo Alto, California-based company said in a press release it was looking to make its shares more accessible to employees and investors. Tesla's stock has surged over 200% this
Today after the close of regular trading Tesla, a well-known American electric vehicle company, announced that it intends to split its shares 5 for 1. The split announcement comes after a sharp rally in the value of Tesla equity in recent quarters. Worth comfortably more than $250 billion, Tesla is amongst the world's most valuable companies, let alone among the most valuable automakers.