Business

A rare discovery of gold deposits in Western Australia has unearthed more than 15 million Australian dollars ($10.66 million) in four days, Australia’s ABC News reported. The unearthed specimens — with the largest weighing 90 kilograms (more than 198 pounds) and covered in 2,300 ounces of gold with an approximate value of 3.8 million Australian

Marty Schwartz says he has “one lazy student” to thank for his online music career. Schwartz, who teaches guitar in San Diego, said that in 2005 that student came in for a lesson and for a third straight week couldn’t play the tune he was supposed to be learning. “I flipped open the camera on

Microsoft views Amazon’s entry into new business areas as a great opportunity to steal cloud customers. During an appearance at Citi’s Global Technology Conference in New York on Thursday, Judson Althoff, the executive vice president heading up Microsoft’s worldwide commercial business group, pointed to trust as one reason that Microsoft’s public cloud is growing faster

The CEO and chairman of Riot BlockChain has resigned in the wake of unrelated charges by the U.S. Securities and Exchange Commission (SEC) against him for alleged fraud in connection with other companies. John O’Rourke who has been the company’s CEO since November 3, has been replaced by Chris Ensey and the new chairman of

The U.S. should not see a proposed European levy on internet giants as an attack against the country, French Finance Minister Bruno Le Maire told CNBC on Saturday — but took the opportunity to chide America on its trade war. A European Commission proposal would impose a 3 percent tax on big companies like Google,

Kuo has also reportedly said that Apple will include up to 512GB of storage in the iPhone Xs and iPhone Xs Max — twice what any current iPhone offers — stainless steel frames, Apple’s new A12 processor, dual 12-megapixel cameras for portrait pictures and three color options (black, white and gold). The iPhone Xs will

Tesla announced that chief accounting officer Dave Morton was leaving the company after less than a month on Friday. Now CNBC has learned from several people familiar that Morton is becoming chief financial officer at Anaplan, a business software company that wants to go public. An e-mail went out on Thursday informing insiders and investors

Tesla‘s now former chief accounting officer Dave Morton quit the company after concluding CEO Elon Musk wasn’t interested in accounting details around a potential take-private transaction, according to a person familiar with the matter who has spoken to Morton in recent days. Morton resigned September 4, according to a company filing released on Friday. Morton

HNA Group, one of China’s largest conglomerates and the owner of a $40 billion-plus empire of businesses and company stakes, will be exiting its 7.6 percent stake in Germany’s Deutsche Bank, the Wall Street Journal reported Friday. The decision, according to people familiar with the matter, comes after pressure from Chinese regulators and HNA’s creditors

Mainland Chinese buyers are expected to snap up an increasing amount of overseas real estate this year — even despite political resistance and sensitivity about such investments around the world. Chinese investments from infrastructure to property buying have been political hot potatoes during elections and beyond, with newly elected governments — such as Malaysia’s —

Nike‘s decision to feature former NFL quarterback Colin Kaepernick in the 30th anniversary “Just Do It” campaign was a stroke of brilliance, according to Scott Galloway, professor at the NYU Stern School of Business. The marketing guru Thursday on CNBC called the act by Nike “the gangster genius brand move of 2018.” In a “Squawk

Intermountain Healthcare made a splash in January when it said it and other major hospital systems, fed up with drug shortages and skyrocketing prices, planned to manufacture their own generic medicines. Now it has a plan for how it’s going to do it. The Salt Lake City-based hospital system is teaming with the Mayo Clinic,

Thomas Kurian, one of the top executives at Oracle, is taking time away from the company for an unspecified period of time, the company has told CNBC. “He’s taking some time off. We expect him to return soon,” a spokeswoman wrote in an email. Kurian joined Oracle from McKinsey in 1996 and has held his

U.S. Attorney General Jeff Sessions will meet with state attorneys general to discuss concerns that tech companies “may be hurting competition and intentionally stifling the free exchange of ideas on their platforms,” the Department of Justice said in a statement Wednesday. The proposed meeting between the country’s top prosecutor and state officials lends legitimacy to

A majority of Democrats and Republicans want to preserve protections in the Affordable Care Act that make it illegal for insurers to deny coverage to people with pre-existing conditions, according to a new poll. Opening arguments in a lawsuit challenging the constitutionality of the ACA are set to begin in federal court in Texas on

President Donald Trump told conservative website The Daily Caller on Tuesday that Nike‘s new ad campaign featuring former NFL quarterback Colin Kaepernick sent a “terrible message.” Nike announced on Monday that Kaepernick would be one of the faces of the company’s 30th anniversary of its “Just Do It” campaign, along with other athletes such as

Once again, investors are pondering whether Dunkin’ Brands will be sold. Shares of the company spiked more than 3 percent Tuesday to an all-time high of $76.12 on speculation that the doughnut chain may be a potential acquisition target. Dunkin’ has long been considered a takeover prospect for JAB Holding, but now the brand could

Verizon doesn’t sell its mobile phones or wireless plans over Amazon. Nor does it offer Fios, its high-speed internet service. But Verizon does advertise on Amazon. On Black Friday last year, when millions of online shoppers took to Amazon in search of deals, a Verizon ad for a Google Pixel 2 phone — buy one

Colin Kaepernick will be one of the athletes featured by Nike as the athletic apparel company marks its 30th anniversary of the famous “Just Do It” ad campaign. The former 49ers quarterback on Monday tweeted an image from the campaign, saying: “Believe in something, even if it means sacrificing everything.” Believe in something, even if

The aviation industry needs to hire thousands of more people like Thomas Maharis. Maharis, recent high school graduate who lives with his family in the Howard Beach section of Queens, is earning $25 an hour as an entry-level aircraft technician. In four overnight shifts a week at nearby John F. Kennedy International Airport, Maharis, 19,

WPP named insider Mark Read as its new chief executive on Monday tasked with replacing its founder Martin Sorrell and steering the world’s biggest advertising company through a period of wide scale industry change. The 51-year-old former board member and digital boss replaces Sorrell who quit in April over a complaint of personal misconduct, which

Facebook may be a latecomer to the streaming video market, but the company thinks it can generate money by making it more social. “Video has always been social, even before the internet, when everybody was watching the same few channels,” said Fidji Simo, Facebook’s head of video, in an interview. “Everyone was talking about their

Amazon took the rare step this week of responding to criticism from a politician, after Sen. Bernie Sanders went after what he called the company’s poor working conditions. Amazon said the Vermont Democrat’s claims were “inaccurate and misleading.” Such swift denial has raised an important question for Amazon: What about Trump? The president has made

Facebook executives have long called the company’s top ranks a “family,” but after a series of high-profile exits, the family is about to get a lot of new faces. At least seven senior Facebook executives have announced their departures this year. None are leaving on bad terms, a company spokesperson told CNBC, and some will

Tesla has reportedly been searching for years for a No. 2 to ease CEO Elon Musk’s workload, even approaching Facebook Chief Operating Officer Sheryl Sandberg at one point. Executive recruiters and industry analysts agree Musk needs help. Musk’s erratic behavior on Twitter has reportedly drawn a federal securities investigation and put Musk himself at risk

When the Senate Select Committee on Intelligence holds its next hearing on Russian meddling in the 2016 U.S. presidential election, it will hear from two of the top executives in the tech industry: Twitter CEO Jack Dorsey and Facebook COO Sheryl Sandberg. Beside them on Wednesday could be an empty seat that’s reserved for another

Here’s a round-up of the most important deals in venture capital from the past week. Amazon acquired Tapzo to help expand its mobile payments business in India, Economic Times reported. Tapzo is a “personal assistant” app that helps users make payments, as well as purchase food and buy transportation tickets. Economic Times reported that Tapzo

It’s the sort of rescue mission that, on film, might have required the likes of a James Bond to pull off, something that would seem apropos considering Aston Martin has long been the brand of choice for super-spy 007. Not that many years ago, the British automaker seemed teetering on the edge of what could

Let’s get this out of the way first: There is no basis for the charge that President Trump leveled against Google this week — that the search engine, for political reasons, favored anti-Trump news outlets in its results. None. Mr. Trump also claimed that Google advertised President Barack Obama‘s State of the Union addresses on

President Donald Trump said Thursday he would consider linking capital gains taxes to inflation, repeating an idea previously floated by his administration that some see as tantamount to a tax cut for the rich. The president made the remarks in an interview Thursday with Bloomberg News. “I’m thinking about it,” Trump said Thursday in the