News > Financial Services

Google's CEO Doubles Down On Plan For Censored Search Engine in China
Google's controversial plan to attempt re-entering China with a censored version of its search engine was met by a backlash from within its ranks - with both current and former employees expressing dismay. However, despite the blowback, Google's executive team shows no signs of backing down from its plans. In fact, while speaking at the WIRED 25 Summit this week,
Microsoft Co-Founder Paul Allen Dies at 65
Paul Allen, who co-founded Microsoft with Bill Gates in 1975 and was one of the most important figures in the personal computing revolution, died on Monday in Seattle. He was 65. The cause was was complications of non-Hodgkin’s lymphoma, according to a statement from his family. Allen worked at Microsoft for about seven years, but left in the early-'80s when
Facebook Says Hackers Accessed Millions of Emails and Phone Numbers
Do you want the good news first or the the bad new? Here's the good news: The security breach Facebook announced in September actually affected 20 million fewer people than initially thought. About 30 million users instead of 50 million were hacked. Here's the bad news: Facebook says that 14 million of the 30 million users who were hacked had
The Big Shorts Dig into Tesla
Tesla, Inc. (NASDAQ: TSLA) short sellers have been an obsession for CEO Elon Musk in 2018. Unfortunately for Musk, the short sellers have had the winning trade as of late, with Tesla stock down 28.9 percent in the past year and Musk being forced out of his chairman role as part of a tentative settlement with the SEC. But rather
Doubts Raised About Bloomberg's China Hacking Story
Last week Bloomberg Businessweek published a blockbuster story that detailed how manufacturing subcontractors in China allegedly carried out a complex attack on about 30 American companies, including Amazon and Apple, by implanting small microchips – “not much bigger than a grain of rice” – on the motherboard of servers used for compressing videos in a multitude of electronic devices. According
Report: SoftBank Could Be Making a Massive Bet on WeWork
SoftBank is in talks to make an investment in WeWork totaling between $15 and $20 billion, giving it a majority stake in the New York-based shared office space provider, the Wall Street Journal reports. The investment would likely be coming out of SoftBank's $92-billion Vision Fund, according to the Journal. In addition to SoftBank, the Vision Fund is mostly backed
Some Traders Were Prepared For Wednesday's Tech Slide
U.S. stocks tumbled Wednesday with the technology sector, the largest sector weight in the S&P 500, acting as the primary culprit. The tech-heavy Nasdaq-100 Index shed 4.40 percent while the Technology Select Sector Index dropped 4.85 percent. Not all traders were frowning, however. Positioning in some leveraged inverse technology exchange traded funds (ETFs) indicates some traders were prepared for Wednesday's
Tech Stocks Suffer Their Worst Day in More Than 7 Years
A bad day for the markets on Wednesday was especially brutal for tech stocks, which suffered its worst day since 2011. The S&P 500 Information Technology Index closed down 4.8 percent, which marks its biggest plunge since Aug. 18, 2011, according to CNBC. Meanwhile, the broader S&P 500 fell 3.3 percent and the Dow Jones Industrial Average dropped 3.2 percent.
Tesla's Largest Outside Shareholder Just Invested in its Biggest Chinese Rival
Well, this is interesting: Baillie Gifford, one of Tesla's largest shareholders, has now invested in the company's largest Chinese rival, as TechCrunch reports. The investment firm has taken an 11.44 percent stake in Nio, according to a regulatory filing with the Securities and Exchange Commission posted on Tuesday. Nio just went public on the New York Stock Exchange last month
Munster: 'Elon Musk's Desire to Win Every Battle May Cost Him the War'
Last week, Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk faced scrutiny for his tweets bashing the SEC just days after his securities fraud settlement. Loup Ventures’ Gene Munster weighed in on the erratic CEO’s behavior. What Happened “Elon Musk’s desire to win every battle may cost him the war,” Munster said in a Tuesday post. Ever since the initial go-private