Alphabet, Google’s parent company, faced an onslaught of 14 independent shareholder proposals during its annual meeting on Wednesday, most criticizing the concentration of power in the hands of a few executives and all demanding some kind of structural change to make the company more accountable—to workers, shareholders, Chinese dissidents, or prospective neighbors of Google’s planned
Month: June 2019
Long before Facebook formally announced its new cryptocurrency, Libra, lawmakers were uneasy about the company’s ambitions to reach into the financial lives of its users. The fears centered on privacy, given Facebook’s prior breaches of trust, and how the company would handle that financial data. On Tuesday, officials awoke to a far more daunting prospect:
The 2020 BMW 8 Series Gran Coupe. European model shown. Source: BMW BMW has a habit of stretching definitions, as it did when it introduced a stretched version of the old 6-Series coupe, adding a pair of extra doors and dubbing it a “Gran Coupe.” Since then, it has expanded the array of four-door coupes
As David Mamet once wrote, “Everybody needs money. That’s why they call it money!” And when you have more money than anyone could ever need, you call it Libra. Facebook on Tuesday introduced a comprehensive, borderless economic system for its platform, which is based on a new cryptocurrency, Libra. The company plans to sit ostentatiously
One evening in April, a California law enforcement officer was browsing Facebook when she saw a post from the National Center for Missing and Exploited Children with a picture of a missing child. The officer took a screenshot of the image, which she later fed into a tool created by nonprofit Thorn to help investigators
CNBC’s Jim Cramer on Tuesday applauded Facebook for its planned efforts to give people in troubled communities greater access to the digital age of money. The social media giant announced that it will dive into the cryptocurrency world with an initiative called Libra, a nonprofit independent of the company expected to launch in the first
In this photo illustration, packages of Beyond Meat “The Beyond Burger” sit on a table, June 13, 2019 in the Brooklyn borough of New York City. Drew Angerer | Getty Images Shares of Beyond Meat soared as much as 18% in premarket trading Tuesday, briefly surpassing $200 per share. At the beginning of May, the
In Michael Lacey’s younger and more vulnerable years, his father gave him this advice: “Whenever someone pokes a finger in your chest, you grab that finger and you break it off at the knuckle.” Lacey grew up in the 1950s as a bright, bookish boy. His father, a sailor turned enforcer for a New York
Huawei may be feeling the sting of US efforts to rein in the Chinese telecom giant. In April, Huawei reported a 39 percent increase in first-quarter revenue, despite US efforts to dissuade allies from doing business with the firm. But the company now expects its revenue to decline to $100 billion this year from $107
Airbus A321XLR Soruce: Airbus American Airlines is edging towards a deal with Airbus to buy up to 50 newly launched A321XLR extended-range narrow-body aircraft including some converted from existing orders of other models, people familiar with the matter said. Airbus and American Airlines declined comment. The people said the order, if confirmed, could be announced
Since the Trump administration blocked sales by US companies to Chinese telecom giant Huawei last month, the world has waited for Beijing to retaliate. Previously, the trade conflict between the US and China centered on escalating tariffs. While tariffs make things more expensive; they don’t cut off supplies entirely. But when the US Department of
Shoppers pack an aisle during a Black Friday sale at a Target store, Friday, Nov. 23, 2018, in Newport, Ky. John Minchillo | AP Target customers Sunday reported issues checking out at stores across the country, after registers were down for nearly two hours Saturday due to a system outage that created long lines. The
A very long United Airlines Boeing 757-300 on the move at Los Angeles airport, 2015/08/31 SOPA Images | LightRocket | Getty Images A United Airlines jet skidded off the runway after landing on Saturday at Newark Liberty International Airport, briefly halting flights, officials said. The left landing gear of the Boeing 757 was stuck in
Businessman standing in front of window with business thinking. baona | iStock | Getty Images The following is a modified excerpt from CNBC cybersecurity reporter Kate Fazzini’s “Kingdom of Lies: Unnerving Adventures in the World of Cybercrime, ” on sale wherever books are sold. Names of corporations and individuals have been changed to protect sources. In
CNBC’s Jim Cramer on Friday told a “Mad Money” caller that he is staying away from stocks of companies that are highly leveraged to the mall. Foot Locker, the shoe chain that’s ubiquitous in almost every shopping center, saw its stock tank after missing Wall Street profit and revenue estimates in its latest quarterly earnings
In March, Matt Bratlien saw something odd in the spacious suburb of Silver Firs, north of Seattle. A six-wheeled robot with the Amazon Prime logo on its sky-blue carapace was driving up and down the sidewalks and curbs, watched by a company representative. “I was surprised, excited, and very curious,” says Bratlien, a partner at
A Hong Kong protest rally on June 9, 2019. Kelly Olsen | CNBC Hong Kong runs the risk of losing its special customs status with the U.S. if its autonomy is seen to be eroded with the contentious extradition bill, according to one analyst. There’s much at stake for Hong Kong, a special administrative region
A person smokes a Juul Labs e-cigarette in this arranged photograph taken in the Brooklyn, New York. Gabby Jones | Bloomberg | Getty Images E-cigarette leader Juul said new research in a small study shows emissions from vaping devices are significantly less toxic than secondhand smoke from cigarettes. The study, which is being presented in
CNBC’s Jim Cramer said Thursday that the life sciences sector is in “raging bull” mode, especially in the instrument manufacturing market. “The life science stocks have caught fire, and while some of that has to do with a rotation, what’s really going on here is Thermo Fisher and Danaher are both incredibly well-run companies that
Dexcom will launch a number of upgrades for its G6 diabetes system over the next year, including its direct-to-Apple Watch version, CEO Kevin Sayer said Thursday. Apple CEO Tim Cook earlier this year said he wanted to leave a mark on the health care industry under his tenure at the iconic technology giant. The collaboration
Chewy.com, the online pet product retailer owned by PetSmart, priced its IPO at $22 per share Thursday, above the expected range, according to a person familiar with the offering. The offering raises just over $1 billion and values the retailer at $8.8 billion. Chewy sold roughly 46 million shares, 5 million more than expected, after
Mercer: “I think that that’s a very tough business and I’m gonna have to say hold off.” Lumenthum Holdings: “That one is too risky.” Synopsys: “I like it very much.” Home Depot: “I’m gonna say yes to that, but it’s a bit of a roller coaster. … It’s just gonna go up and down, and
CNBC’s Jim Cramer advised investors to stick with the bulls on Capri Holdings. The Michael Kors parent held an analyst meeting earlier this week in which management laid out its growth plans, but it yielded conflicting opinions from the community. The stock is down more than 55% from its highs in September. “I’m always thrilled
CNBC’s Jim Cramer said Thursday that retail earnings have revealed the middle part of the sector is “struggling.” “There’s a market for high-end luxury goods and low-end mass market merchandise, but right now there’s not much space in between,” the “Mad Money” host said. Diving into the sector’s quarterly results, presented over the past weeks,
Scanning electron micrograph of various bacteria found in a sample of human faeces. Steve Gschmeissner | Science Photo Library | Getty Images The Food and Drug Administration on Thursday issued a safety warning following the death of a patient who contracted a drug resistant bacteria that was transmitted during an experimental fecal transplant. Another patient
Cans of Campbell’s soup are displayed on a shelf at a grocery store on June 05, 2019 in Richmond, California. Justin Sullivan | Getty Images “Soup is our middle name,” Mark Clouse, CEO of Campbell Soup Company, reminded the audience during the company’s investor day on Thursday. And the company plans on reviving its namesake.
Around half the world’s population still lacks access to the internet. Companies like Facebook, SpaceX, and Amazon want to change that by launching constellations of satellites into the sky, which will beam internet back down to Earth. But even if these projects succeed, tech giants may face a more fundamental problem in bridging the digital
If you believe you may have stumbled into a cryptocurrency conference (godspeed, my friend), there are a few telltale signs. First, look for the live bulls and the yellow Lambos. But if they’ve fallen victim to cost-cutting or newfound modesty, then look for a procession of cream-colored cowboy hats. They belong to a retinue of
The operators of the only bitcoin mine in Missoula County, Montana, thought they were doing everything right. They set up shop in an abandoned mill on the edge of town, made a plan to recycle the computers when they conked out, and contracted with a nearby dam for cheap renewable power. Sure, it might be