Month: July 2019

Signage is displayed outside a JC Penney Co. store in Chicago, Illinois. Christopher Dilts | Bloomberg | Getty Images J.C. Penney on Friday afternoon said it hasn’t hired any advisors to prepare for an “in-court restructuring or bankruptcy.” The statement followed a report Thursday evening that the embattled department store chain had hired advisers to explore
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Republican and Democratic lawmakers alike are furious over reports that the Federal Trade Commission is prepared to settle with Facebook over widespread privacy violations for just $5 billion. But that doesn’t mean there’s currently an acceptable bipartisan solution floating around the marble halls of the Capitol. “The terrible message sent by this tap on the
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2020 Chevrolet Corvette Stingray Source: General Motors General Motors is gunning for Ferrari with its newest redesign of the Chevrolet Corvette — the 2020 Stingray unveiled Thursday night.  First introduced in 1954, the Chevy Corvette quickly stood out in a market dominated by the heavy metal that was rolling out of most Detroit factories in
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It’s been a strange, conflicted week for antitrust in Washington, DC. In one set of congressional hearings, tech leaders, facing possible far-reaching regulation, fended off accusations that they are strangling competition. In another, Facebook’s David Marcus explained why the social media giant should be given a green light to expand ambitiously into global finance with
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Everyone from President Trump to Representative Maxine Waters (D-California) says Libra, Facebook’s planned cryptocurrency, should be heavily regulated. But nobody seems to know how—including Facebook. That much was clear in the often muddled questions of legislators who hauled in Facebook executive David Marcus to testify this week, as well as in Marcus’ frequent deflections. The
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Hemp plants are grown for medical research purposes in Chiang Mai province, Thailand. Taylor Weidman | Bloomberg | Getty Images With Thailand’s legalization of medical cannabis in February, some experts predict that other Southeast Asian countries may move to decriminalize the plant. If that happens, it could prove a significant opportunity for investors interested in
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Istvan Kadar Photography | Moment | Getty Images Nearly 40,000 Con Edison customers were left without power Saturday after massive outages hit New York City. The utility company said it was responding to “extensive outages” on the westside of Manhattan and would share more information as it becomes available. The power outage was apparently caused
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From 2010 to 2011, I worked on YouTube’s artificial intelligence recommendation engine—the algorithm that directs what you see next based on your previous viewing habits and searches. One of my main tasks was to increase the amount of time people spent on YouTube. At the time, this pursuit seemed harmless. But nearly a decade later,
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A docker works in front of a container ship at Qingdao Port in Qingdao, Shandong Province of China. ChinaFotoPress | Getty Images China’s dollar-denominated exports fell 1.3% in June from a year ago while imports fell 7.3% in the same period, the country’s customs department reported on Friday. Economists polled by Reuters had expected China’s June exports
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Darren Elias knows poker. The 32-year-old is the only person to have won four World Poker Tour titles and has earned more than $7 million at tournaments. Despite his expertise, he learned something new this spring from an artificial intelligence bot. Elias was helping test new soft­ware from researchers at Carnegie Mellon University and Facebook.
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A Domino’s Pizza delivery driver Jason Alden | Bloomberg | Getty Images Delivery apps like UberEats, Doordash and GrubHub are cutting into Domino’s Pizza‘s business, so much so that it’s reducing sales growth for the world’s largest pizza chain, according to Morgan Stanley. Domino’s built its business around a fleet of drivers who deliver hot pizzas
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