News: Business/Economy

Latest News

Apple Preparing Monthly iPad, Mac Payment Plans for Apple Card
Apple Preparing Monthly iPad, Mac Payment Plans for Apple Card

(Bloomberg) -- Apple Inc. is preparing to allow customers to buy many of its products, including iPads, Macs and AirPods, over monthly installments via its Apple Card credit card.The Cupertino, California-based technology giant is planning to roll out the service in the coming weeks, according to people

9 Costly Mistakes Savvy Costco Shoppers Don
9 Costly Mistakes Savvy Costco Shoppers Don't Make

Every year, Costco attracts droves of new members looking to score bargains on everything from personal care products and paper towels to fresh and frozen foods in bulk. Exclusive perks such as deeply discounted gasoline prices, deals on big-ticket electronics and appliances, and access to coveted Kirkland

Donald Trump says Warren Buffett makes a mistake selling airline stocks
Donald Trump says Warren Buffett makes a mistake selling airline stocks

Trump made his assessment at the White House, shortly after the U.S. Labor Department reported an unexpected surge in May jobs, and five weeks after Buffett said his Berkshire Hathaway Inc sold its airline stakes. "Warren Buffett sold airlines a little while ago," Trump said.

Uber could lose its Grubhub deal to Just Eat or Delivery Hero
Uber could lose its Grubhub deal to Just Eat or Delivery Hero

According to CNBC there are two suitors rivaling Uber for purchase of U.S. food delivery company Grubhub: Just Eat Takeaway (the union of Just Eat and Takeaway) and Delivery Hero. Both are European companies perhaps looking for a major entry to the United States market. Just Eat Takeaway is based in the U.K. and Holland, while Delivery Hero is based in Germany.

Instacart makes changes to tip policy following shopper complaints
Instacart makes changes to tip policy following shopper complaints

Instacart announced today that it is changing its tip policy to protect its growing shopper network from tip-baiting. Tip-baiting, a grotesque tactic, is when customers bait shoppers with a big tip and then reduce the tip to zero after they receive their groceries. It emerged as Instacart's demand

Thinking About Buying Stock In American Airlines, Luckin Coffee, XpresSpa Or Genius Brands?
Thinking About Buying Stock In American Airlines, Luckin Coffee, XpresSpa Or Genius Brands?

Share prices for American Airlines, Luckin Coffee, XpresSpa and Genius Brands have all spiked up to unusual price points. Here's what you need to know before investing.American Airlines: Why Did The Price Move? American Airlines Group Inc (NYSE: AAL) stock took off Thursday, gaining more than 40% on the day. This followed a statement by the company saying it believed 74% more flights will take place in July than in June. Mind the bears, however. Citron Research tweeted on Friday that the surge was largely due to increased buy volume from young retail traders, and didn't reflect the company's poor fundamentals.> $AAL Back to $10 Robinhood traders have 0 idea what they buying. Balance sheet...

9 Best Nasdaq Stocks to Buy

The S&P 500 is up about 150% in the last 10 years, but the Nasdaq composite is up about 300% in that same stretch. The Nasdaq composite is calculated using the share prices of more than 2,500 stocks that trade on the Nasdaq exchange. The Nasdaq is known for its tech stocks, but plenty of high-quality Nasdaq stocks exist outside the tech sector as well.

Silicon Valley can fight systemic racism by supporting Black-owned businesses
Silicon Valley can fight systemic racism by supporting Black-owned businesses

Right now, activists are rightfully urging the public to take two crucial steps: vote out state and local government leaders and support Black-owned businesses. A Stanford University study found that only 1% of Black-owned businesses receive loans in their first year. Apps like WeBuyBlack and eatOkra collate businesses and restaurants into one centralized database, while organizations like Bank Black encourage investment in Black-owned funds or Black-owned businesses.

Silver Lake to buy additional $600 million stake in India
Silver Lake to buy additional $600 million stake in India's Reliance Jio Platforms

Silver Lake is doubling down its bet on India's Reliance Jio Platforms. The U.S. private equity firm said Friday it is buying an additional stake worth $600 million in the top Indian telecom operator, which has now raised $12.2 billion in less than two months at the height of a global pandemic. The Menlo Park-headquartered firm, which invested nearly $750 million in Reliance Jio Platforms last month, said the additional infusion increases its stake in the Indian firm to 2.08%, up from 1.15%.

Daily Crunch: Twitter has a record week
Daily Crunch: Twitter has a record week

Twitter sees record downloads, Signal adds a new face-blurring feature and Facebook rethinks its approach to government-backed media. Civil unrest due to the nationwide George Floyd protests drove Twitter to a record number of new installs this week, according to data from two app store intelligence firms, Apptopia and Sensor Tower. While the firms' exact findings differed in terms of the total number of new downloads or when records were broken, the firms agreed that Twitter's app had its largest-ever week, globally.

UK
UK's COVID-19 health data contracts with Google and Palantir finally emerge

Contracts for a number of coronavirus data deals that the U.K. government inked in haste with U.S. tech giants, including Google and Palantir, plus a U.K.-based AI firm called Faculty, have been published today by openDemocracy and law firm Foxglove -- which had threatened legal action for withholding the information. Concerns had been raised about what is an unprecedented transfer of health data on millions of U.K. citizens to private tech companies, including those with a commercial interest in acquiring data to train and build AI models. In a blog post today, openDemocracy and Foxglove write that the data store contracts show tech companies were "originally granted intellectual...

'Long Lines And Packed Flights': Casino Stocks Rise Following Vegas Reopening

Casino stock investors received some good news this week as early reports out of Las Vegas suggest the reopening of major casino resorts was met with strong initial demand.However, one analyst said on Friday that Vegas still has a long road to full recovery from its shutdown.What Happened?A number of Las Vegas casinos opened their doors for the first time on June 4, and Bank of America analyst Shaun Kelley said initial demand was so strong that several operators are now opening additional properties ahead of schedule."At 12:01AM on June 4th, Las Vegas casinos officially reopened. From local reports and our channel checks, the demand was strong with long lines and packed flights, similar...

Hertz
Hertz's Possibly Worthless Stock Soars in Risky Recovery Bet

(Bloomberg) -- Hertz Global Holdings Inc. shares are rallying two weeks after the company filed for bankruptcy in an extreme example of the bets investors are making on recovery from the coronavirus pandemic.The car renter's stock traded as high as $3.70 shortly after the start of regular trading Friday, a 353% surge from Wednesday's close. Hertz and its rival Avis Budget Group Inc. got a boost Thursday from signs air travel is poised to rebound.Hertz also is likely to benefit from prices of used cars at auctions coming all the way back from a mid-April collapse. Market researcher J.D. Power said Thursday that prices last week were above its pre-virus forecast.Those positives aside,...

Billionaire Jim Simons Snaps Up These 3 Penny Stocks
Billionaire Jim Simons Snaps Up These 3 Penny Stocks

When billionaire financier Jim Simons makes a move, Wall Street pays attention. Simons is best known as the inventor of quantitative trading, using data crunching algorithms to make market predictions. He put his theories to work in the 1980s, when he founded the Renaissance Technologies hedge fund, and since then has established the best record on Wall Street, averaging a 66% annual return for over 30 years.Ask how he did it, and Simons will likely tell you that he took the emotional factor out of trading. Humans are fickle beasts, but data never lies. Take out the human factor, focus solely on the numbers and their patterns, and you can't lose. Following this insight, Simons' fund has...

15 things founders should know before accepting funding from a corporate VC
15 things founders should know before accepting funding from a corporate VC

More than $50 billion of corporate venture capital (CVC) was deployed in 2018 and new data indicates that nearly half of all venture rounds will include a corporate investor. Different CVCs have different investing strategies.

As Bandcamp waives fees again, labels donate their portion to justice programs
As Bandcamp waives fees again, labels donate their portion to justice programs

Here in the States, 108,000 people are dead due to COVID-19, and protests against the killing of George Floyd raged on for an eighth night. For that reason, Bandcamp's monthly day of waived fees has been an important opportunity to give back to musicians who have given me so much, but continue to struggle as touring - the primary source of income for many - has ground to a halt. In addition to Bandcamp waiving its share of sales, a long list of artists are using their own cut to donate to important issues.

Genius Brands International Appoints Former President of Fox Kids Network, Margaret Loesch, as Executive Chairman of the New Kartoon Channel!
Genius Brands International Appoints Former President of Fox Kids Network, Margaret Loesch, as Executive Chairman of the New Kartoon Channel!

Former President of Walt Disney Television, David Neuman, joins Kartoon Channel! BEVERLY HILLS, Calif., June 05, 2020 (GLOBE NEWSWIRE) -- Genius Brands International (GNUS) announced today the appointment of Margaret Loesch as Executive Chairman of Kartoon Channel!, which will be available in over

XpresSpa Group Signs Contract with HyperPointe™ for Airport-based COVID-19 Screening and Testing
XpresSpa Group Signs Contract with HyperPointe™ for Airport-based COVID-19 Screening and Testing

NEW YORK, June 05, 2020 -- XpresSpa Group, Inc. (Nasdaq: XSPA) ("XpresSpa" or the "Company"), a health and wellness company, today announced that it has partnered with.

Slack
Slack's new integration deal with AWS could also be about tweaking Microsoft

Slack and Amazon announced a big integration late yesterday afternoon. As part of the deal, Slack will use Amazon Chime for its call feature, while reiterating its commitment to use AWS as its preferred cloud provider to run its infrastructure. At the same time, AWS has agreed to use Slack for internal

Zoom
Zoom's 484% Surge Gives Little-Known Early Investor Fortune

(Bloomberg) -- Some of the biggest names in finance and business made a fortune on Zoom Video Communications Inc.: Hong Kong's Li Ka-shing, Tiger Global Management's Chase Coleman and, of course, founder Eric Yuan, whose net worth has surged to $10.7 billion.And then there's Samuel Chen, a little-known Taiwanese investor who made his initial wealth through ink trading and started putting money in the video-conferencing juggernaut about a decade ago.His Digital Mobile Venture Ltd., which participated in Zoom's early funding rounds, controls a $1.6 billion stake, assuming it hasn't sold stock since the holding was last disclosed at the end of March. Shares of Zoom, which recently reported a...

YC-backed Tajir raises $1.8M to help mom-and-pop stores source inventory in Pakistan
YC-backed Tajir raises $1.8M to help mom-and-pop stores source inventory in Pakistan

A number of high-profile firms and startups have set up logistics networks in India in the last decade as they attempt to digitize neighborhood stores. Most neighborhood stores that dot tens of thousands of cities and towns in India are still offline. Pakistan has several similarities to India: its cities are just as dense and populated, for one.

Recently Appointed LinkedIn CEO Apologizes After Employees Make
Recently Appointed LinkedIn CEO Apologizes After Employees Make 'Disturbing And Racist' Comments At Internal Meeting

Microsoft Corporation (NASDAQ: MSFT)-owned LinkedIn's newly appointed CEO Ryan Roslansky issued an apology on Thursday after employees made insensitive comments anonymously at an internal company meeting held to discuss racial inequality.What happened Roslansky issued an apology to employees for

Twitter Takes Down Trump Campaign
Twitter Takes Down Trump Campaign's Video Tribute To George Floyd For Violating Copyright

Twitter Inc. (NYSE: TWTR) on Thursday took down one of the videos posted by President Donald Trump's 2020 presidential campaign team on its platform.What Happened The nearly four-minute-long video was a tribute from the campaign team to George Floyd, a black Minneapolis man who died in an encounter

39 Careless Ways Retirees Waste Money
39 Careless Ways Retirees Waste Money

You could be throwing money away without realizing it.

Twitter Removed Trump Floyd Tribute Video on Copyright Issue
Twitter Removed Trump Floyd Tribute Video on Copyright Issue

(Bloomberg) -- Twitter Inc. removed a Trump campaign video tribute to George Floyd due to a copyright claim, the latest escalation in a confrontation between the social media platform and its most influential user.The @TeamTrump account had tweeted a video collage of images and clips depicting peaceful

Should You Buy Delta Stock Before Travel Demand Returns?
Should You Buy Delta Stock Before Travel Demand Returns?

[Editor's Note: "Stay on the Sidelines While Delta (DAL) Stock Is Up in the Air" was originally published April 13, 2020. It is regularly updated to include the most relevant information.]Source: Markus Mainka / Shutterstock.com With investors jumping back into airlines, what's next for Delta Air Lines (NYSE:DAL)? The legacy carrier's shares have rallied 70% off their lows set in mid-May. While the novel coronavirus continues to impact air travel, Wall Street is betting on a swift recovery in DAL stock.However, many things remain uncertain. On one hand, air travel is slowly rebounding from its extreme lows in weeks prior. On the other hand, even if the novel coronavirus quickly fades...

The Party Is Over for Moderna Stock Holders
The Party Is Over for Moderna Stock Holders

[Editor's Note: "Sell Moderna (MRNA) Stock as Covid-19 Catalyst Inflates Valuation" was originally published April 2, 2020. It is regularly updated to include the most relevant information.]Source: Shutterstock Is the party over for Moderna (NASDAQ:MRNA)? MRNA stock soared in May as the company's novel coronavirus prospects looked bright. But now, with investors selling off vaccine plays, the days of this being a "hot stock" may be coming to an end.Granted, this doesn't mean "game over" for their prospective mRNA-1273 vaccine. Already entering phase 2 clinical trials, they could have a vaccine available for use by the end of the year.InvestorPlace - Stock Market News, Stock Advice &...

Ambani
Ambani's Jio Platforms Sells $1.2 Billion Stake to Mubadala

(Bloomberg) -- Reliance Industries Ltd. added to the roster of marquee backers piling into its digital upstart Jio Platforms Ltd. with a $1.2 billion investment by Abu Dhabi's Mubadala Investment Co.The deal gives the Abu Dhabi sovereign fund a stake of 1.85% at an equity value of $65 billion for Jio

Here
Here's what is driving GM's reported plans to develop a commercial electric van

GM's electric offensive to bring at least 20 new EVs to market by 2023 reportedly includes a commercial van. Reuters reported Thursday that the company is developing an electric van for the commercial market code named BV1. When, and if, GM delivers on that goal in 2021 it will join an increasingly crowded pool.

Moderna
Moderna's (MRNA) Stock Will Surge 80% From Current Levels, Says Analyst

There's no doubt about it, Moderna's (MRNA) profile has increased dramatically since the pandemic's onset.The biotech name has climbed 206% higher this year, as investors have piled in with the hope that its COVID-19 vaccine candidate, mRNA-1273, might be the one to solve the coronavirus conundrum. Yet, it hasn't all been positive news. Recently, questions have surfaced concerning the company's sale of shares following the stock's latest surge.Blocking out all of the noise, Oppenheimer analyst Hartag Singh recently attended Moderna's virtual Science Day to get some visibility on the work going on behind the scenes. The 5-star analyst liked what he heard, to say the least."Building on the...

After sparking consternation at NASA, Trump campaign pulls ad featuring SpaceX launch
After sparking consternation at NASA, Trump campaign pulls ad featuring SpaceX launch

An online advertisement that plays off last weekend's historic crewed SpaceX launch to boost President Donald Trump's re-election campaign drew a protest from the wife of one of the astronauts today - and soon afterward, the campaign deleted its version of the ad. The ad, titled "Make Space

Ethena raises $2 million in seed funding for smarter anti-harassment software
Ethena raises $2 million in seed funding for smarter anti-harassment software

Corporate harassment training is often defined by mandatory annual workshops, stock photo-ridden curricula and, often, outdated scenarios. Harvard graduates Roxanne Petraeus and Anne Solmssen think there's a business in doing better than that. The duo co-founded Ethena, a software-as-a-service startup that sells anti-harassment training software that is more comprehensive and flexible than the status quo.

Broadcom Suggests New iPhone Launch Will Be Delayed
Broadcom Suggests New iPhone Launch Will Be Delayed

(Bloomberg) -- Broadcom Inc., a major Apple Inc. supplier, suggested the latest iPhones will be launched later than usual this year.Hock Tan, chief executive officer of Broadcom, discussed a "major product cycle delay" at a "large North American mobile phone" customer, during an earnings conference call

FTC fines kids
FTC fines kids' app developer HyperBeard $150K for use of third-party ad trackers

The company's applications had been downloaded more than 50 million times on a worldwide basis to date, according to data from app intelligence firm Sensor Tower. A complaint filed by the Dept. of Justice on behalf of the FTC alleged that HyperBeard had violated COPPA by allowing third-party ad networks to collect personal information in the form of persistent identifiers to track users of the company's child-directed apps.

OTTO Motors raises $29M to fill factories with autonomous delivery robots
OTTO Motors raises $29M to fill factories with autonomous delivery robots

When Clearpath Robotics CEO and co-founder Matthew Rendall looks at the "miles" of roads inside industrial factories, he sees them filled with autonomous vehicles. The division, which launched in 2015, has landed a number of customer contracts to bring its autonomous mobile robot platform into factories, including GE, Toyota, Nestlé and Berry Global. OTTO Motors is preparing to expand with a fresh injection of $29 million in funding.

JCPenney Provides Update on Store Optimization Strategy
JCPenney Provides Update on Store Optimization Strategy

J. C. Penney Company, Inc. (OTCMKTS: JCPNQ) today announced that it has taken the first step in implementing its store optimization strategy.

Mercato Partners just launched Savory, a $90 million fund focused on fueling fast-casual restaurant concepts
Mercato Partners just launched Savory, a $90 million fund focused on fueling fast-casual restaurant concepts

Mercato Partners, a 13-year-old, Salt Lake City, Utah-based investment firm that oversees a growth fund, a secondary investment fund, and a venture fund, has launched yet another fund -- this one a $90 million vehicle that the firm says will be used to invest in restaurant concepts that are gaining traction. Further, with as many as 30 percent of independent restaurants never expected to reopen their doors again, quick service restaurants that are already returning to pre-pandemic sales, are poised to gather even more market share.

Airlines, Hertz Add $8.6 Billion in Value on Expanded Schedule
Airlines, Hertz Add $8.6 Billion in Value on Expanded Schedule

(Bloomberg) -- U.S. airlines and rental car stocks added $8.6 billion in market value Thursday after American Airlines Group Inc. said it plans to boost flights by 74% next month, suggesting that the worst of the pandemic-led travel standstill has passed.American surged 41% -- adding $2.1 billion to its own market value -- after saying its July schedule would see about 4,000 flights on its busiest days, up from about 2,300 flights now. Rival airlines, as well as rental car operators Hertz Global and Avis Budget Group, also rose as the expanded schedule echoed indications from peers that passenger demand is returning after all but disappearing in April as the coronavirus spread.The...

Signal now has built-in face blurring for photos
Signal now has built-in face blurring for photos

Apps like Signal are proving invaluable in these days of unrest, and anything we can do to simplify and secure the way we share sensitive information is welcome. To that end Signal has added the ability to blur faces in photos sent via the app, making it easy to protect someone's identity without leaving any trace on other, less secure apps. Fortunately there are perfectly good tools out there both to find faces in photographs and to blur imagery (presumably irreversibly, given Signal's past attention to detail in these matters, but the company has not returned a request for comment).

Lufthansa fliegt aus dem Dax
Lufthansa fliegt aus dem Dax

Als hätte die Lufthansa nicht schon genug Probleme - nun verliert das Dax-Gründungsmitglied auch noch seinen Platz in der ersten deutschen Börsenliga. Vom 22. Juni an wird die Fluggesellschaft im MDax der mittelgroßen Werte gelistet. Das gab die Deutsche Börse am Donnerstagabend bei der turnusgemäßen

VMware acquires network security firm Lastline, said to lay off 40% of staff
VMware acquires network security firm Lastline, said to lay off 40% of staff

VMware is acquiring network security firm Lastline, TechCrunch has learned. A source tells us that VMware will let go some 40 percent of Lastline's employees - about 50 staffers - as part of the acquisition. A spokesperson for VMware also did not respond to a request for comment.

New York City
New York City's Wi-Fi kiosks memorialize the dead, amid citywide protests

Since late-2015, LinkNYC kiosks have become a mainstay among New York's sidewalks. A more modern replacement for decaying and disused public pay phones, the nine-foot-tall towers provide corners with access to public Wi-Fi, USB charging and access to emergency services. The most striking aspect however, are the large side displays that alternate between advertising and "NYC Fun Facts," designed to offer a little insight into the city that never sleeps.

Facebook adds labels identifying state-controlled media
Facebook adds labels identifying state-controlled media

Facebook will soon add labels to news outlets owned or otherwise controlled by a government, marking that information as, if not necessarily false or unreliable, at least worth considering the origin of. The company announced its plan to do this a few months ago as one part of its ongoing "election integrity efforts," along with such things as requiring a confirmed owner for pages and banning anti-voting ads. Under the new policy, which should roll out to all users over the next week, news organizations "that may be under the influence of a government" will have a subtle but clear label as such, as will their posts.

As Americans look to escape, this peer-to-peer RV rental startup is happy to accommodate them
As Americans look to escape, this peer-to-peer RV rental startup is happy to accommodate them

Last week, we talked with Jeff Cavins, a serial operator and the cofounder and CEO of a company that's poised to benefit from the latter trend: Outdoorsy, a peer-to-peer RV rental company that was founded in 2015, bootstrapped by its founders for a couple of years, and has more recently attracted $88 million in venture funding, $13 million of it an extension to a $50 million Series B round that it quietly closed early this year. JC: We had typically seen an average rental on our platform would run about six days. With COVID, as  with many other companies, we saw a lot of de-bookings in the platform, but then they all roared back and then some.

Tesla
Tesla's Elon Musk calls for breakup of Amazon in tweet

Tesla
Tesla's Elon Musk calls for breakup of Amazon in tweet

(Reuters) - Telsa Inc Chief Executive Elon Musk on Thursday called for Amazon.com "Time to break up Amazon. Musk tweeted two days after saying he was taking a break from the social networking service. Musk does not have legal authority to break up Amazon.

7 Tech Stocks to Buy With Great Dividends

High-dividend tech stocks are the best of both worlds, offering the chance for impressive expansion in revenue and profits while also bringing you a steady payday every quarter. Here are seven tech stocks to consider. Israel-based Camtek is unique among tech dividend stocks in that it focuses on inspection equipment for memory chips, microprocessors and other similar items.

JUNE 8 DEADLINE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against eHealth, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
JUNE 8 DEADLINE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against eHealth, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / June 4, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class-action lawsuit against eHealth, Inc. ("eHealth" or "the Company") (NASDAQ:EHTH) for violations of 10(b) and 20(a) of the Securities Exchange

U.S. to revise Chinese passenger airline ban after Beijing move
U.S. to revise Chinese passenger airline ban after Beijing move

The U.S. Transportation Department plans to issue a revised order in the coming days that is likely to allow some Chinese passenger airline flights to continue, government and airline officials said. On Thursday, China said it would ease coronavirus restrictions to allow in more foreign carriers, shortly after Washington said it planned to bar Chinese passenger airlines from flying to the United States by June 16 due to Beijing's curbs on U.S. carriers. The change should allow U.S. carriers to resume once-a-week flights into a city of their choice starting on June 8, but that would be still significantly fewer than what the U.S. government says its aviation agreement with China allows.

11 Nintendo Switch games you should play docked instead of in handheld mode
11 Nintendo Switch games you should play docked instead of in handheld mode

The Nintendo Switch offers portability for all its games, but some work better when playing in docked mode.

Top News: Economy

© Copyright Daily Magazine