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US stock indexes waver Friday, keeping market near record highs

In Business, Emerging Technology, Energy, Finance, Government by Long Island Business NewsLeave a Comment

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U.S. stocks are little changed Friday, keeping indexes near record highs following a six-day winning streak. Technology companies, which have led the market’s recent rally, are flat overall. Video game companies are falling as Wall Street was disappointed by forecasts from GameStop. Consumer-focused companies rose. KEEPING SCORE: The Standard & Poor’s 500 index held steady at 2,414 as of 10:40 a.m. Eastern time. The Dow Jones industrial average was little changed at 21,082. The Nasdaq composite stayed at 6,204. The Russell 2000 index of small-company stocks sank 6 points, or 0.4 percent, to 1,377. GAME OVER: GameStop’s first-quarter results were stronger than analysts expected, but sales of wireless devices were w... Read More
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Consumer stocks help Wall Street hit record highs

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FBN’s Charles Payne on which stocks helped the S&P 500 and Nasdaq hit new record highs.... Read More
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What’s next for GOP candidate who allegedly ‘body slammed’ a reporter

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Published on May 25, 2017Shelby Holliday of The Wall Street Journal on Montana Republican congressional candidate Greg Gianforte, who allegedly ‘body slammed’ a reporter. Category License Standard YouTube License ... Read More
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For deposed Ford CEO, the future didn’t come quickly enough

In Business, Emerging Technology, Events, Finance, Government, Mobile Technology, Start Up by Venture BeatLeave a Comment

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Ford announced that CEO Mark Fields retired on Monday and will be replaced by Jim Hackett. After months of shareholder grumblings about Ford’s stock market performance, it’s obvious that his hand was forced, but he was allowed a graceful exit. Ford’s stock has tumbled 35 percent since Fields took the helm, so it’s no huge surprise to see him go. Fields’ connected car dreams Nobody ever said Fields was not ambitious. During his tenure, we saw a dramatic change in direction within Ford — sharply toward connected car tech, autonomous vehicles, and mobility solutions.... Read More
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For deposed Ford CEO, the future didn’t come quickly enough

In Business, Emerging Technology, Events, Finance, Government, Mobile Technology, Start Up by Venture BeatLeave a Comment

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Ford announced that CEO Mark Fields retired on Monday and will be replaced by Jim Hackett. After months of shareholder grumblings about Ford’s stock market performance, it’s obvious that his hand was forced, but he was allowed a graceful exit. Ford’s stock has tumbled 35 percent since Fields took the helm, so it’s no huge surprise to see him go. Fields’ connected car dreams Nobody ever said Fields was not ambitious. During his tenure, we saw a dramatic change in direction within Ford — sharply toward connected car tech, autonomous vehicles, and mobility solutions.... Read More
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Best Buy: Shoppers take advantage of tax refund checks

In Business, Emerging Technology, Government, Mobile Technology by Long Island Business NewsLeave a Comment

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Best Buy had better-than-expected sales of mobile devices and strong sales of gaming products during the first quarter, after the delayed arrival of federal tax refund checks put Americans in the mood to buy stuff. Shares surged nearly 17 percent Thursday to levels not seen since before the recession and the emerging dominance of Amazon.com. For the three months that ended April 29, Best Buy Co.’s revenue climbed to $8.53 billion from $8.44 billion. That’s better than the $8.26 billion analysts expected, according to a poll by Zacks Investment Research. Online sales jumped 22.5 percent domestically. “Compared to our expectations going into the quarter, our revenue was higher due to strong performance in gaming,... Read More
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Retailers lead US stocks higher Thursday

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A strong batch of earnings from retailers including Best Buy is sending stock prices higher in early trading on Wall Street. Best Buy soared 12 percent early Thursday after reporting earnings and sales that came in well ahead of what analysts were expecting. Williams-Sonoma gained 3.9 percent and PVH, which owns Calvin Klein and Tommy Hilfiger, rose 5.4 percent. The market has risen for five straight days. If it closes higher again on Thursday it will mark the longest winning streak in three months. The Standard & Poor’s 500 index increased 4 points, or 0.2 percent, to 2,409. The Dow Jones industrial average rose 52 points, or 0.3 percent, to 21,064. The Nasdaq composite climbed 16 points, or 0.3 ... Read More
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Republicans not embracing Trump’s budget plan?

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Published on May 25, 2017The Wall Street Journal Global Economics Editor John Hilsenrath on President Trump's budget proposal and the outlook for Federal Reserve policy. Category License Standard YouTube License ... Read More
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HP records ‘breakthrough’ Q2 sales, but it’s not getting carried away

In Business, Government by Venture BeatLeave a Comment

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HP Inc. CEO Dion Weisler wasted no time in describing his company’s latest quarterly earnings as a “breakthrough.” In a call with analysts on Wednesday, Weisler said HP’s third-straight quarter of rising sales shows that the company’s turnaround since splitting with data center specialist sibling Hew... Read More
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Trump once called NATO “obsolete.” Now he’s meeting with its leaders

In Business, Government, Mobile Technology, Video by CBS NewsLeave a Comment

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As a candidate in 2016, Donald Trump called NATO "obsolete" and the city of Brussels a "hellhole." On Wednesday he arrived in Brussels for a meeting with NATO leaders. Rebecca Balhaus, White House reporter for the Wall Street Journal, spoke to CBSN about what to expect from this meeting.Subscribe to the "CBSN" Channel HERE: http://bit.ly/1Re2MgSWatch "CBSN" live HERE: http://cbsn.ws/1PlLpZ7Follow "CBSN" on Instagram HERE: ... Read More
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News Wrap: Nuclear missile that can reach U.S. from North Korea ‘inevitable,’ says Defense official

In Business, Government, Legal, Video by PBS NewsHourLeave a Comment

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In our news wrap Tuesday, Lt. Gen. Vincent Stewart warned that it’s inevitable North Korea will develop a nuclear missile that can reach the U.S. mainland unless something is done to prevent it. Also, President Trump reportedly retained Wall Street lawyer Marc Kasowitz in the special counsel investigation of contacts between campaign aides and the Russians.... Read More
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Uber underpaid NYC drivers by millions for nearly three years

In Business, Government, Mobile Technology, Security by The VergeLeave a Comment

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Uber underpaid NYC drivers by millions for nearly three years - The Vergeclockmenumore-arrow (function(d) { try { if (localStorage.getItem('chorus-fonts-0b50f0674bed2b66b24a77410eb3f99c') === 'yes') { d.documentElement.className += ' fonts-loaded'; } } catch (e) {} var fontUrls = ["https://fonts.voxmedia.com/unison/stylesheets/verge.1d37918fdeeb1febc4d68217382a1e72.css"]; var ss = d.styleSheets; for (var i=0; i -1) { ss[i].ownerNode.media = 'all'; fontUrls.splice(idx, 1); } } if (fontUrls.length > 0) { setTimeout(onload, 0); } } onload(); })(document); var chorusInitQueue=[],volume_embed_host="https://volume.vox-cdn.com";var Chorus=Chorus||{};Chorus.windowLoaded=!1,Ch... Read More
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Scribd adds newspapers to its subscription reading service, including the NYT, FT, and WSJ

In Business, Events, Government, Start Up by Venture BeatLeave a Comment

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Subscription reading service Scribd is adding another string to its bow today with the news that it’s now including “select” articles from a number of premium newspapers. Founded out of San Francisco in 2007, Scribd offers subscribers unlimited cross-platform access to a selection of reading material, including ebooks, audiobooks, documents and, as of last November, magazines — all for $8.99 per month. The company has raised around $50 million in venture capital funding since its inception. Scribd ... Read More
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Technology stocks lead market higher Monday

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Technology companies led U.S. stock indexes broadly higher on Wall Street. Ford rose 2.1 percent Monday after replacing its CEO. Defense contractors also made gains as the market bounced back from a turbulent week. Consumer-focused companies also rose. Amazon climbed 1 percent. Energy companies bucked the broadly higher trend and ended slightly lower. The Standard & Poor’s 500 index increased 12 points, or 0.5 percent, to 2,394. The Dow Jones industrial average gained 90 points, or 0.4 percent, to 20,894. The Nasdaq composite rose 49 points, or 0.8 percent, to 6,133. Two stocks rose for every one that fell on the New York Stock Exchange. Bond prices fell. The yield on the 10-year ... Read More
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Amazon hired banistas and bananagers to give away 1.7 million free bananas

In Business, Legal, Mobile Technology by The VergeLeave a Comment

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Amazon hired banistas and bananagers to give away 1.7 million free bananas - The Vergeclockmenumore-arrow (function(d) { try { if (localStorage.getItem('chorus-fonts-0b50f0674bed2b66b24a77410eb3f99c') === 'yes') { d.documentElement.className += ' fonts-loaded'; } } catch (e) {} var fontUrls = ["https://fonts.voxmedia.com/unison/stylesheets/verge.1d37918fdeeb1febc4d68217382a1e72.css"]; var ss = d.styleSheets; for (var i=0; i -1) { ss[i].ownerNode.media = 'all'; fontUrls.splice(idx, 1); } } if (fontUrls.length > 0) { setTimeout(onload, 0); } } onload(); })(document); var chorusInitQueue=[],volume_embed_host="https://volume.vox-cdn.com";var Chorus=Chorus||{};Chorus.windo... Read More
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Many women think men are the better investors; they’re not

In Business, Emerging Technology, Finance, Government by Long Island Business NewsLeave a Comment

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Many men and women think men are the better investors. They’re wrong. After checking how 8 million of its customers did during 2016, Fidelity Investments found that women did better than men by an average of 0.4 percentage points. The difference in performance is small, and it’s always dangerous to make big generalizations out of small slices of data. But it slots in with other research that suggests women tend to take a longer-term view of investing. They are more likely to buy and hold their investments, and they take fewer risks, for example. Researchers are generally loathe to declare one gender as absolutely better than the other in investing, and other studies have shown men doing slightly better than women... Read More
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Industrials lead US stocks broadly higher Monday

In Business, Emerging Technology, Finance by Long Island Business NewsLeave a Comment

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Industrial and materials companies are leading stocks broadly higher in early trading on Wall Street. Chemicals maker Huntsman rose 2.6 percent early Monday after agreeing to be acquired by Clariant. Ford rose 1.5 percent after replacing its CEO. The Standard & Poor’s 500 index increased 7 points, or 0.3 percent, to 2,390. The Dow Jones industrial average gained 81 points, or 0.4 percent, to 20,887. The Nasdaq composite rose 26 points, or 0. percent, to 6,110. Share this: ... Read More
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IBM tells thousands of remote employees to come back to office or find new jobs

In Business, Government by Ars TechnicaLeave a Comment

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Enlarge / IBM's deadline for remote employees to decide if they're willing to relocate to keep their jobs has arrived.Coolcaesar/Wikimedia ... Read More
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Many on Wall Street blame Trump for market tumble

In Business, Finance, Government, Video by CCTV AmericaLeave a Comment

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U.S. stock markets rebounded Thursday, just one day after sending a message to the White House: Please, President Trump... focus. CGTN's John Terret reports from New York City.... Read More
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Will Congress pass Trump’s agenda within the year?

In Business, Government, Video by Fox Business NewsLeave a Comment

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Published on May 18, 2017Rasmussen Reports’ Amy Holmes, Wall Street Journal’s Glenn Hall and Rosecliff CEO Mike Murphy discuss the growing fears that President Trump’s tax reform will be delayed amid Russia probe. Category License Standard YouTube License ... Read More
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US stocks open slightly higher Thursday

In Business, Emerging Technology, Finance, Government by Long Island Business NewsLeave a Comment

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Stocks are modestly higher in early trading on Wall Street as traders were relieved to see some positive results from retailers. Wal-Mart Stores, L Brands and Ralph Lauren all rose early Thursday after reporting better results than analysts were expecting. The slight gains came a day after the market had its worst drop since September as deepening political tumult in Washing got investors worried that President Donald Trump will have trouble enacting tax cuts and other business-friendly policies. The Standard & Poor’s 500 rose 1 point to 2,358. The Dow Jones industrial average was little changed at 20,608. The Nasdaq gained 10 points to 6,022. Small-company stocks fell. ... Read More
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Building the virtual reality experiences and worlds of the future

In Business, Gaming, Science & Nature by Venture BeatLeave a Comment

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Pretty soon, real life will be stranger than fiction when it comes to bringing the great inventions of science fiction and games into real world technology. Kim Pallister, director of Intel’s virtual reality center of excellence, moderated a fireside chat about that topic with science fiction writer Austin Grossman at our recent GamesBeat Summit 2017: How games, sci-fi, and tech create real-world magic. They dwelled on the future of virtual reality experiences and building worlds like the Metaverse in Neal Stephenson’s 1992 sci-fi novel Snow Crash. Given the advances of VR, ... Read More
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40,000 AT&T workers could go on strike over delays to contract negotiations

In Business, Government, Healthcare, Security by Venture BeatLeave a Comment

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Almost 40,000 AT&T workers plan to go on strike on Friday if they don’t reach an agreement with the company for new contracts. The Communications Workers of America union on Wednesday said about 17,000 workers in AT&T’s traditional wireline telephone and Internet business in Nevada and California who have been working without a contract for over a year would walk off the job on Friday afternoon for a three ... Read More
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White House worries hitting Wall Street?

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Published on May 17, 2017Former Goldman Sachs senior partner Peter Kiernan, Estimize VP of media Christine Short and Heat Street political editor Jillian Melchior discuss how fears over the latest Comey report potentially derailing the GOP agenda are impacting the markets. Category License Stand... Read More
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Banks lead an early decline for US stocks Wednesday

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Stocks are opening lower on Wall Street as banks and industrial companies fall. Banks were sliding along with bond yields early Wednesday. Bank of America sank 2.7 percent and Wells Fargo lost 2 percent. Falling bond yields mean lower interest rates on loans and tighter profits for banks. Among industrial companies, United Rentals fell 3 percent. Target jumped 3.6 percent after posting surprisingly strong earnings for the first quarter. The Standard & Poor’s 500 index slumped 16 points, or 0.7 percent, to 2,383. The Dow Jones industrial average lost 159 points, or 0.8 percent, to 20,817. The Nasdaq composite fell 49 points, or 0.8 percent, to 6,120. ... Read More
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Target reimagines itself and Wall Street likes what it sees

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Target’s first-quarter profits jumped almost 8 percent as attempts to turn its business around appear to be gaining some traction. Comparable-store sales fell for the fourth consecutive quarter, but the decline was nowhere near as bad as expected and online sales surged 22 percent. While growing online sales and rising profits pushed shares up more than 8 percent before the opening bell Wednesday, CEO Brian Cornell still needs to find a way to thrive in the face of intense pressure Amazon.com and Wal-Mart Stores Inc. Facing those challenges, Target plans to spend $7 billion over the next three years, more than three times its typical capital expenditure, to remodel more than a third of its 1,800 stores, speed up its expan... Read More
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Most stocks fall, but Nasdaq sets record Tuesday

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Stocks are closing mostly lower on Wall Street, but gains in some technology companies nudged the Nasdaq composite to another record high. Utilities, phone companies and real estate companies fell more than the rest of the market Tuesday, and most industries were lower. Technology bucked the trend, and chipmaker Advanced Micro Devices soared 11.6 percent. Microsoft increased 2 percent. The Standard & Poor’s 500 index fell 1 point, or 0.1 percent, to 2,400. The Dow Jones industrial average slipped 2 points, less than 0.1 percent, to 20,979. The Nasdaq composite increased 20 points, or 0.3 percent, to 6,169. More stocks fell than rose on the on the New York Stock Exchange. Bond prices rose. T... Read More
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Dick’s is feeling the retail burn, shares tumble

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Dick’s Sporting Goods joined the banged up first-quarter retail roster, putting up sales numbers that sent shares hurtling 12 percent lower early Tuesday. Sales rose 2.4 percent at established stores, a bad sign for industry analysts that had projected a 3.5 percent rise, according to FactSet. Macy’s, Nordstrom and other traditional retail stores have been hammered during the quarter, feeling pressure from online rivals. Dick’s said Tuesday that it revamped its website earlier this year and sales there have improved. Net income was $58.2 million, or 52 cents per share, in the three months ending April 29, compared with $56.9 million, or 50 cents per share, in the same quarter a year ago. Earnings, adjust... Read More
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Veridium’s New Software Biometric Authentication Solution is now Verified as Citrix Ready®

In Business, Government, Legal, Science & Nature, Security by Venture BeatLeave a Comment

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VeridiumAD, with new Citrix Connectors, is a unique biometric authentication solution for organizations with Microsoft Active Directory and Citrix environments seeking to enhance security by eliminating passwords enterprise-wide QUINCY, Mass.–(BUSINESS WIRE)–May 16, 2017– Veridium, a leader in biometrics-based authentication, today announced that ... Read More
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US stocks waver in midday trading on Wall Street

In Business, Emerging Technology, Finance, Government, Healthcare by Long Island Business NewsLeave a Comment

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The major U.S. stock indexes wavered between small gains and losses in midday trading Tuesday a day after the market closed at record highs. Investors were sizing up the latest crop of company earnings and new data on home construction and industrial production. Health care and real estate companies fell more than the rest of the market. Technology stocks led the gainers. KEEPING SCORE: The Standard & Poor’s 500 index fell less than 1 point to 2,401 as of 12:24 p.m. Eastern Time. The Dow Jones industrial average gained 17 points, or 0.1 percent, to 20,999. The Nasdaq composite index was up 11 points, or 0.2 percent, at 6,160. The S&P 500 and Nasdaq hit new highs on Monday. SPRUCED UP: Home Depot topped expectation... Read More
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US stocks waver in early trading on Wall Street Tuesday

In Business, Emerging Technology, Finance, Government, Healthcare by Long Island Business NewsLeave a Comment

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U.S. stock indexes were little changed in early trading Tuesday, a day after the market closed at record highs. Investors were sizing up the latest crop of company earnings and new data on home construction and industrial production. Real estate and health care companies fell more than the rest of the market. Consumer goods makers rose. The price of oil edged higher. KEEPING SCORE: The Standard & Poor’s 500 index fell 1 point, or 0.1 percent, to 2,403 as of 10:23 a.m. Eastern Time. The Dow Jones industrial average was little changed at 20,986. The Nasdaq composite index was up a fraction at 6,150. The S&P 500 and Nasdaq hit new highs on Monday. SPRUCED UP: Home Depot topped expectations for profit and revenue in t... Read More
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Trump too much on the defensive to accomplish agenda?

In Business, Finance, Government, Video by Fox Business NewsLeave a Comment

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Published on May 16, 2017Peebles Corporation Founder Don Peebles and The Wall Street Journal Global Economics Correspondent Jon Hilsenrath on the distractions plaguing the Trump administration. Category License Standard YouTube License ... Read More
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China-made hi-tech ‘spy’ drones seized in Bengaluru

In Business, Emerging Technology, Government, Mobile Technology by Gadget SnowLeave a Comment

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Wall Street banks ask technology companies to align with Trump rhetoric Man thanks Apple's Siri for saving his life Robotic fish adjusts its motion to reveal acidic hotspots Ransomware: Windows XP and the NSA leak that started it all Drone skydiving: Would you take the plunge? WannaCry: Officers in sensitive field asked to use stand-alone computers ... Read More
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Homebuilder confidence rises as industry looks past D.C. policies

In Business, Video by Fox Business NewsLeave a Comment

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Published on May 15, 2017Wall Street Journal columnist Veronica Dagher, Wall Street Journal senior video reporter Shelby Holliday and GOP strategist Ford O’Connell on the state of the U.S. economy. Category License Standard YouTube License ... Read More
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Amazon is still executing Bezos’s 1997 plan

In Business, Government, Start Up by Venture BeatLeave a Comment

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Where were you 20 years ago today? If you were Jeff Bezos or a shareholder with enough foresight and confidence to invest in his startup, you were probably celebrating Amazon’s IPO, which raised $54 million — which in turn helped build a $465 billion company. Let’s not dwell on the buzzkilling numbers of how much money everyone missed out on by not buying Amazon at $18 a share on May 15, 1997. (If you must know, here’s the IPO’s investment banker doing the math). There are two other notable things about this anniversary: how absurd the debate looks now that occurred around Amazon’s IPO valuation, and how similar it is to the deba... Read More
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More record highs as US indexes gain Monday

In Business, Emerging Technology, Finance, Security by Long Island Business NewsLeave a Comment

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Stocks are closing broadly higher on Wall Street, bringing more record high closes for major indexes. Materials companies, banks and oil and gas companies posted solid gains Monday. Halliburton rose 3.7 percent. Cybersecurity companies were also higher as companies began recovering from a global cyberattack that began last week. FireEye gained 7.5 percent and Symantec rose 3.2 percent. The Standard & Poor’s 500 index rose 11 points, or 0.5 percent, to 2,402. The Dow Jones industrial average gained 85 points, or 0.4 percent, to 20,981. The Nasdaq composite increased 28 points, or 0.5 percent, to 6,149. The Russell 2000 index of small-company stocks climbed 11 points, or 0.8 percent, to 1,393. ... Read More
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Akonni Biosystems Closes $4M Bridge Round, Announces Series D Institutional Fundraising Round

In Business, Government, Healthcare, Start Up by Venture BeatLeave a Comment

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$4M raised to accelerate key initiatives including first FDA submission Series D round to be led by Greenwich, Ct. investment bank, MM Dillon & Co. FREDERICK, Md.–(BUSINESS WIRE)–May 15, 2017– Akonni Biosystems, a molecular diagnostics (MDx) company that develops, manufactures, and intends to market advanced MDx systems, today announce... Read More
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WSJ: Nintendo developing Zelda smartphone game

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Nintendo and Japanese mobile game company DeNA are developing a game based on the The Legend of Zelda series for smartphones, according to a report in the Wall Street Journal report. Kyoto-based Nintendo hasn’t commented yet. The WSJ reported cites “people familiar with the matter.” The report said that the previously announced Animal Crossing game for smartphones will debut in the second half of 2017, and The Legend of Zelda game will follow that. Zelda is at an all-time high as a franchise, as The Legend of Zelda: Breath of the Wild for the Nintendo Switch debuted i... Read More
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Nintendo is making a Legend of Zelda smartphone game: WSJ

In Business, Government, Mobile Technology, Security by The VergeLeave a Comment

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Nintendo is making a Legend of Zelda smartphone game: WSJ - The Vergeclockmenumore-arrow (function(d) { try { if (localStorage.getItem('chorus-fonts-0b50f0674bed2b66b24a77410eb3f99c') === 'yes') { d.documentElement.className += ' fonts-loaded'; } } catch (e) {} var fontUrls = ["https://fonts.voxmedia.com/unison/stylesheets/verge.1d37918fdeeb1febc4d68217382a1e72.css"]; var ss = d.styleSheets; for (var i=0; i -1) { ss[i].ownerNode.media = 'all'; fontUrls.splice(idx, 1); } } if (fontUrls.length > 0) { setTimeout(onload, 0); } } onload(); })(document); var chorusInitQueue=[],volume_embed_host="https://volume.vox-cdn.com";var Chorus=Chorus||{};Chorus.windowLoaded=!1,Chorus... Read More
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Where are all the big telecom mergers?

In Business, Government, Legal, Start Up by Venture BeatLeave a Comment

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The much-anticipated merger mania in the communications industry finally turned into a real deal this week, but it probably wasn’t the one most people were expecting. Verizon outbid AT&T with a $3.1 billion offer for tiny wireless s... Read More
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Spotify reportedly to go public as direct listing on NYSE

In Business, Events by Venture BeatLeave a Comment

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(Reuters) – Music streaming service Spotify, most recently valued at $13 billion, will be the first major company to carry out a direct listing on the New York Stock Exchange when it goes public later this year or early next year, two sources familiar with the situation said on Friday. The move would be the biggest test yet for the direct listing process, which for companies willing to list shares without raising capital eliminates the need for a Wall Street bank or broker to underwrite an initial public offering (IPO) along with many associated fees. If successful, it could change the way companies approach selling shares to the public. The Swedish technology firm is working with investment banks Morgan S... Read More
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Losses at J.C. Penney double, sales slide, as do shares

In Business, Emerging Technology, Healthcare, Mobile Technology by Long Island Business NewsLeave a Comment

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Losses at J.C. Penney doubled in the first quarter and sales at established stores fell again, capping a terrible week for retailers. Though the loss wasn’t as bad as many industry analysts had expected, the decline in revenue was and sales at stores open at least a year, a key industry metric, fell for the third consecutive quarter. Shares of other retailers, which took a huge hit Thursday after dismal reports from Macy’s and Nordstrom, began to decline again after stabilizing overnight. J.C. Penney tumbled more than 9 percent Friday in premarket trading. For the three months ended April 29, Penney lost $180 million, or 58 cents per share. A year ago the Plano, Texas, company lost $68 million, or 22 cents... Read More
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Nordstrom reports growth in 1Q profit, disappointing sales

In Business by Newsday Technology NewsLeave a Comment

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FILE - In this Monday, March 23, 2015, file photo, a woman arrives at a Nordstrom luxury department store, at The Mall of San Juan, in San Juan, Puerto Rico. Nordstrom Inc. reports financial results, Thursday, May 11, 2017. (AP Photo/Ricardo Arduengo, File) (Credit: AP) (AP) -- Nordstrom Inc. said Thursday its overall profit jumped 37 percent at its department stores in the first quarter, but a key sales gauge fell short of Wall Street expectations. Sales at established stores ... Read More
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Tencent poured $90 million into Pocket Gems because of two shiny jewels

In Business, Government, Mobile Technology by Venture BeatLeave a Comment

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Mobile game publisher Pocket Gems announced today that it has raised $90 million in new funding from Chinese Internet company Tencent, which is also the world’s largest game company. The funding amount is high in part because Pocket Gems has had so much success focusing on just two mobile games, its Episode digital storytelling app and its War Dragons hardcore multiplayer app. The companies didn’t disclose the size of the deal, but the Wall Street Journal reported the number at $90 million. And GamesBeat has confirmed that number is correct. “Things are better than they have ever been at the company,... Read More
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US stocks slide in afternoon trading; oil heads higher

In Business, Finance by Newsday Technology NewsLeave a Comment

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FILE - This Jan. 4, 2010, file photo shows an historic marker on Wall Street in New York. Stocks are off to a weak start on Wall Street, Thursday, May 11, 2017, as banks and technology companies take losses. (AP Photo/Mark Lennihan, File) (Credit: AP) Real estate companies led U.S. stocks broadly lower in afternoon trading Thursday. Macy's, Kohl's and other big retailers were also down sharply after reporting disappointing quarterly results. Oil prices were headed higher. KEEPING... Read More
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Snap CEO on Facebook threat: ‘Just because Yahoo has a search box, it doesn’t mean they’re Google’

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On Snap’s first earnings call as a public company Wednesday, Wall Street had a particularly burning question for Snapchat founder Evan Spiegel: “Does Facebook scare you?” asked Richard Greenfield, an analyst at BTIG. Following an earnings report that came in below analysts’ expectations on sales, profit and user growth—prompting Snap stock to plummet nearly 25% after-hours towards its ... Read More
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Ex-Massey Energy CEO Completes 1-Year Federal Criminal Sentence

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Enlarge this image Former Massey Energy CEO Don Blankenship, left, walks out of the Robert C. Byrd U.S. Courthouse on Nov. 24, 2015, after the jury deliberated for a fifth full day in his trial in ... Read More
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US stocks rise as energy companies rally with oil prices

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U.S. stock indexes are a bit higher Wednesday afternoon as energy companies are rallying with the price of oil. Consumer-focused companies are down following weak first-quarter reports from Priceline and Disney. Drugmakers and other health care companies are also down as a quiet week of trading continues. KEEPING SCORE: The Standard & Poor’s 500 index picked up 1 point, or 0.1 percent, to 2,398 as of 12:43 p.m. Eastern time. The Dow Jones industrial average shed 17 points, or 0.1 percent, to 20,958 as Disney slumped. The Nasdaq composite remained at 6,121 after it set a record high Tuesday. The Russell 2000 index of small-company stocks was up 4 points, or 0.3 percent, to 1,396. OIL: Benchmark U.S. crude surged $1.55,... Read More
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Stocks open lower on Wall Street Wednesday

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Stocks are off to a weak start on Wall Street after several big U.S. companies reported disappointing first-quarter results. Disney was down 3 percent in early trading Wednesday after its revenue fell short of forecasts. Priceline slumped 4.8 percent after its revenue also missed estimates. Chipmaker Nvidia soared 14 percent after reporting earnings that were far higher than analysts were expecting. The Standard & Poor’s 500 index fell 2 points, or 0.1 percent, to 2,395. The Dow Jones industrial average lost 55 points, or 0.3 percent, to 20,919. The Nasdaq composite fell 2 points, less than 0.1 percent, to 6,117. The Nasdaq closed at an all-time high the day before. Bond prices rose. The yield on ... Read More
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Markets Right Now: Stocks open lower on Wall Street

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The latest on developments in financial markets (All times local): 9:35 a.m. Stocks are off to a weak start on Wall Street after several big U.S. companies reported disappointing first-quarter results. Disney was down 3 percent in early trading Wednesday after its revenue fell short of forecasts. Priceline slumped 4.8 percent after its revenue also missed estimates. Chipmaker... Content Preview This content is exclusive for Optimum, Time Warner® and Comcast® customers with access to News 12. Already registered or an Optimum customer?Log in ... Read More
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Global stocks, dollar edge lower after Trump fires Comey

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Men walk past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo, Wednesday, May 10, 2017. Asian stocks markets logged moderate gains on Wednesday after Wall Street closed mixed as investors assessed implications of political events around the world. Weaker than expected Chinese inflation data underscored concern that the economy is losing steam. (AP Photo/Eugene Hoshiko) (Credit: AP) (AP) -- Stocks and the dollar mostly fell Wednesday af... Read More
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Nasdaq sets another record; energy stocks hold back S&P 500

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FILE - In this Friday, Nov. 13, 2015, file photo, the American flag flies above the Wall Street entrance to the New York Stock Exchange. U.S. stock indexes bobbed a bit further into record territory Tuesday, May 9, 2017, joining a smooth rise higher for markets around the world. (AP Photo/Richard Drew, File) (Credit: AP) (AP) -- The Nasdaq composite index ticked higher to another record Tuesday, but a drop by energy stocks held other indexes back. It was the third straight day ... Read More
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Stocks end mostly lower Tuesday

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Stocks are ending mostly lower on Wall Street after modest gains from the morning didn’t make it through the day. Utilities, energy and materials companies fell the most Tuesday, while some consumer-focused stocks did well. Chesapeake Energy gave up 2.7 percent, and Sealed Air fell 8.9 percent. United Continental and American Airlines each rose 4.8 percent after reporting higher traffic numbers. The Standard & Poor’s 500 index fell 2 points, or 0.1 percent, to 2,396. The Dow Jones industrial average lost 36 points, or 0.2 percent, to 20,975. The Nasdaq composite picked up 17 points, or 0.3 percent, to 6,120, another record. More stocks fell than rose on the New York Stock Exchange. ... Read More
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Wall Street's fear gauge lowest since 1993

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Swiss Americas Trading Corp. Chairman Craig Smith and SunAmerica Funds Vice President Heather Zumarraga weigh in on what’s driving the Vix index to its lowest levels since 1993.... Read More
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Stocks drift around record highs in another listless day

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FILE - In this Friday, Nov. 13, 2015, file photo, the American flag flies above the Wall Street entrance to the New York Stock Exchange. U.S. stock indexes bobbed a bit further into record territory Tuesday, May 9, 2017, joining a smooth rise higher for markets around the world. (AP Photo/Richard Drew, File) (Credit: AP) (AP) -- U.S. stock indexes drifted around their record highs Tuesday as markets lazed through yet another day of listless trading. Treasury yields ticked higher, addin... Read More
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Drugmaker Valeant tops 1Q profit forecasts, chops debt again

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FILE - This May 27, 2013, file photo, shows the head office and logo of Valeant Pharmaceuticals International Inc. in Laval, Quebec, Canada. Valeant Pharmaceuticals International Inc. reports earnings, Tuesday, May 9, 2017. (Ryan Remiorz/The Canadian Press via AP, File) (Credit: AP) (AP) -- Shares of Valeant Pharmaceuticals surged after the Canadian drugmaker topped Wall Street's first-quarter expectations and said it chopped its debt by another $1.3 billion, giving it more financial f... Read More
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Stock markets rise on strong German trade data

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A man looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo, Tuesday, May 9, 2017. Shares were mixed in Asia on Tuesday after record highs on Wall Street overnight. (AP Photo/Eugene Hoshiko) (Credit: AP) (AP) -- Stocks mostly rose on Tuesday on the back of upbeat trade data in Germany and as investors digest a string of strong earnings in the U.S. KEEPING SCORE: Germany's DAX gained 0.7 percent to 12,777 and the CAC 40 of France add... Read More
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Why companies are investing more in the U.S.

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The Wall Street Journal’s video reporter Shelby Holiday and RealClearMarkets editor John Tamny on the U.S. economy, job growth and manufacturing.... Read More
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Ex Renaissance employee sues co-CEO Robert Mercer

In Business, Emerging Technology, Government, Legal by Long Island Business NewsLeave a Comment

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A former employee of multi-billion-dollar hedge fund Renaissance Technologies has filed a lawsuit against co-CEO Robert Mercer, charging he was fired for speaking out against his boss’ political views and activities. David Magerman, a former Long Island resident who criticized Mercer’s political views and actions in the Wall Street Journal, filed the lawsuit on May 5 just two days after being fired as of May 3. He charges that he was let go because of a personal vendetta that Mercer, one of Donald Trump’s biggest funders, had against him due to his opposition and criticism of that support. And he cites a conversation at a poker tournament just days before the firing in which Mercer’s daughter allegedly in... Read More
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Stocks end little changed on Wall Street Monday

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Stock indexes are finishing little changed on Wall Street as losses in materials and health care companies hold back gains in energy and other parts of the market. Fertilizer maker CF Industries gave up 2.3 percent Monday, and drugmaker Celgene lost 3.3 percent. Apple jumped 2.7 percent. Newell Brands, which makes Rubbermaid containers, soared 11.9 percent after reporting solid results and raising its forecast for the year. The Standard & Poor’s 500 index ended up a fraction at 2,399. The Dow Jones industrial average edged up 5 points to 21,012. The Nasdaq composite added 1 point to 6,102. Small-company stocks fell. The Russell 2000 index lost 5 points, or 0.4 percent, to 1,391. Bond prices... Read More
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US stock indexes inch back from record highs

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FILE - In this Friday, Nov. 13, 2015, file photo, the American flag flies above the Wall Street entrance to the New York Stock Exchange. European stock markets gave up some recent gains Monday, May 8, 2017, after Emmanuel Macron comfortably won the French presidential election. Over the past couple of weeks, European stocks, particularly French ones, had been buoyant on expectations of a Macron victory over the far-right candidate Marine Le Pen. (AP Photo/Richard Drew, File) (Credit: AP) ... Read More
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Stocks edge lower in early trading Monday

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Stocks are edging lower in early trading on Wall Street as the market comes off record high closes the week before. Materials companies were falling more than the rest of the market early Monday. Consumer-focused stocks were doing well. Newell Brands, which makes Rubbermaid containers and other products, soared 11 percent after reporting solid first-quarter results and raising its forecast for the year. The Standard & Poor’s 500 index slipped 1 point to 2,397. The Dow Jones industrial average lost 23 points, or 0.1 percent, to 20,981. The Nasdaq composite edged down 6 points, or 0.1 percent, to 6,094. ... Read More
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Revisiting Florine Stettheimer’s Place in Art History

In Business, Education, Government, Science & Nature by New YorkerLeave a Comment

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How machine learning influences your productivity

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If there is one word that the enterprise wants to be associated with, it’s “productive.” It is the metric that influences so many others by which business is measured – success, efficiency, profit. And recently, artificial intelligence (AI) has been touted as a new way to increase productivity by replacing expensive workers with tireless machines. One recent demonstration that has garnered media attention is the first demonstration of an ... Read More
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When blockchains run companies, here’s what your job will look like

In Business, Gaming, Government, Science & Nature, Start Up by Venture BeatLeave a Comment

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If you’re tired of going to unproductive meetings, commuting in to work just to put in face time, or following commands from a boss you don’t have much confidence in, you may be the right kind of employee for a new type of work environment called a DAO, or Decentralized Autonomous Organization. We’re in the early stages of seeing these futuristic types of companies roll out already. These early players have run into some missteps, but that’s to be expected. What’s important in... Read More
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The CEO personality traits that could ruin your startup

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PR folks like us love startup founders: They’re motivated, ambitious, a little crazy, usually very smart, and sometimes just downright quirky. You can learn a lot about human nature by working for many different startup CEOs. But you’ll also notice some traits that can spell disaster — not just for the company’s PR efforts, but for the company in general. Here’s a list of some of the toxic startup executive personalities we have encountered over the years, along with one personality type that we’ve found to be the most effective. 1. Thank God you’re here! Who are you again? Startup execs are as demanding as they are busy. They know what they want and they want it now (if not sooner)! So as a PR vendor, once ... Read More
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Obama’s Life Post-Presidency

In Business, Government, Healthcare, Legal, Science & Nature, Security by New YorkerLeave a Comment

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The rise of the tech titans – Counting the Cost

In Business, Events, Mobile Technology, Video by Al Jazeera EnglishLeave a Comment

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Nearly every Internet consumer in the world is exposed to these technology giants in some way: Amazon, Alphabet, Apple, Microsoft and Facebook. The latest set of quarterly earnings show just how much profit they're generating from our increasingly technology focused economy.In 2017, the biggest tech companies are just as big as Wall Street Banks as they grow their market dominance. These companies own giant ecosystems of products that all tie into each other.Every time Apple sells an iPhone, the customer buys other services. Apple cash hoard is $250bn - which is bigger than the market cap of General Electric. It became the world's most valuable company back in 2011.More from Counting the... Read More
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Weak energy stocks leave indexes mixed Friday

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Major U.S. stock indexes ended up more or less where they started on Wall Street as big drops in energy companies canceled out gains elsewhere in the market. Energy companies posted sharp losses on Thursday after the price of crude oil plunged 5 percent to its level since last fall. Chesapeake Energy fell 7.4 percent. Banks did relatively well as bond yields rose, which allows lenders to charge higher interest rates on loans. Regions Financial rose 1.1 percent. The Standard & Poor’s 500 index rose 1 point to 2,389. The Dow Jones industrial average fell 6 points, less than 0.1 percent, to 20,951. The Nasdaq composite edged up 2 points to 6,075. Bond prices fell. The yield on the 10-year Trea... Read More
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US stocks open slightly higher Friday

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Stocks are modestly higher in early trading on Wall Street after the government reported a pickup in hiring last month. U.S. employers added 211,000 jobs in April, the Labor Department reported early Friday, which reassured investors that the economy was picking up after a sluggish first three months of the year. CBS rose 1.9 percent after reporting higher profits than analysts were expecting. IBM slumped 2.7 percent after billionaire investor Warren Buffett said he had sold some of his stake in the company. The Standard & Poor’s 500 index rose 4 points, or 0.2 percent, to 2,393. The Dow Jones industrial average fell 11 points, less than 0.1 percent, to 20,935. The Nasdaq composite gained 14 point... Read More
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Energy shares lead world stock losses on volatile oil price

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A screen shows the world stock index with the reflection of a worker cleaning a window at the Hong Kong Stock Exchange, Friday, May 5, 2017. Oil prices stabilized in Asian trading Friday after hitting a five-month low while regional stock benchmarks headed lower in holiday-thinned trading. (AP Photo/Kin Cheung) (Credit: AP) (AP) -- Energy shares led a decline in global stock markets Friday after oil touched its lowest level in nearly six months on oversupply concerns. KEEPIN... Read More
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Weak energy stocks leave indexes mixed Thursday

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Major U.S. stock indexes ended up more or less where they started on Wall Street as big drops in energy companies canceled out gains elsewhere in the market. Energy companies posted sharp losses on Thursday after the price of crude oil plunged 5 percent to its level since last fall. Chesapeake Energy fell 7.4 percent. Banks did relatively well as bond yields rose, which allows lenders to charge higher interest rates on loans. Regions Financial rose 1.1 percent. The Standard & Poor’s 500 index rose 1 point to 2,389. The Dow Jones industrial average fell 6 points, less than 0.1 percent, to 20,951. The Nasdaq composite edged up 2 points to 6,075. Bond prices fell. The yield on the 10-year Treasury... Read More
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Zynga reports one of its best revenue quarters in years as mobile growth takes off

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Zynga reported one of its strongest revenue quarters in years as it hit $207 million in bookings, up 14 percent form a year ago. The drivers were growth in mobile games, improved live operations for existing games, and better operating expense efficiency. GAAP revenue for the quarter was $194.3 million, above guidance and about 4 percent up from a year ago. GAAP net loss was $9.5 million, or 1 cent a share, compared to a loss of $35.4 million, or 4 cents a share, a year ago. But analysts measure Zynga based on its bookings and adjusted earnings before income tax, depreciation, and amortization (EBITDA, a measure of profitability). Zynga’s stock price is at $3 a share, up 5.6 per... Read More
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Here's how traffic will be impacted by President Donald Trump's NYC visit

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NEW YORK (WABC) -- President Donald Trump's visit to New York City Thursday is going to impact traffic in big ways.The president will land at JFK Airport and take a helicopter to the Wall Street helipad. From there, he'll head to meet with the prime minister of Australia in Midtown, then heading the U.S.S. Intrepid on the west side of Manhattan. At minimum, here's what you should expect (all times are approximate and subject to change):* 2 p.m. to 3 p.m.: FDR Drive between Battery Park and 63rd Street will be closed* 3 p.m. to 8 p.m.: Frozen zones and closures in the area of 55th Street near Fifth Avenue* 6 p.m. to 10:30 p.m.: Frozen zones and closures along West Street and Ele... Read More
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Stocks edge higher in early trading Thursday

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Stocks are opening slightly higher on Wall Street, led by gains in banks and makers of consumer goods. Wells Fargo picked up 1 percent in early trading Thursday, and Kellogg rose 0.8 percent. AmerisourceBergen rose 3 percent after the drug distributor reported earnings that came in well ahead of what analysts were expecting. The Standard & Poor’s 500 index edged up 1 point, less than 0.1 percent, to 2,389. The Dow Jones industrial average rose 17 points, or 0.1 percent, to 20,975. The Nasdaq composite was down a fraction at 6,071. Bond prices fell. The yield on the 10-year Treasury note rose to 2.37 percent. ... Read More
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Asia stocks slip on Fed's latest; Europe shares open higher

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A woman walks past an electronic board displaying Shenzhen trading stock prices at a brokerage house in Beijing, Thursday, May 4, 2017. Most Asian stock markets slipped Thursday after a lackluster day on Wall Street as the Fed used its latest assessment of the U.S. economy to signal that more interest rate increases are coming. (AP Photo/Andy Wong) (Credit: AP) (AP) -- Asian stock markets slipped and the dollar held its ground Thursday after the Fed's latest assessment of ... Read More

Facebook reports Q1 2017 revenue of $8.03 billion, warns again of ad growth

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(Reuters) — Facebook Inc shares dipped from a record high on Wednesday after the world’s biggest online social network warned investors once again that its advertising revenue growth would likely come down from current high levels. The warning appeared to outweigh Facebook’s surging quarterly profit and revenue, fueled by growth in its mobile ad business, which is still not showing much sign of slowing down as the company nears the five-year anniversary of its initial public offering. Chief Executive Mark Zuckerberg said in a statement it was a “good start to 2017.” Facebook’s shares fell 2.7 percent in after-hours trading to $147.60. They had closed at an all-time high of $153.60 on Tuesday.... Read More
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Why Tesla earnings don’t really matter for investors

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Seaport Securities Trader Teddy Weisberg, Bulls Eye Option Senior Marketing Strategist Alan Knuckman, and Wall Street Journal Tech and Automotive Reporter Tim Higgins on all things Wall Street, and why reason behind people invest in Tesla.... Read More
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Dems shift financial debate to spotlight Trump's empire

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House Financial Services Committee member Rep. Randy Hultgren, R-Ill. speaks on Capitol Hill in Washington, Tuesday, May 2, 2017, during the committee's hearing on overhauling the nation's financial rules. (AP Photo/Manuel Balce Ceneta) (Credit: AP) (AP) -- The Republican drive to overhaul financial regulations on Wednesday turned into a contentious debate over Democratic efforts to cast a spotlight on President Donald Trump's business empire and his refusal t... Read More
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Tesla 1Q loss widens on higher spending ahead of Model 3

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This Monday, Oct. 24, 2016, photo shows a Tesla Model S on display in downtown Los Angeles. Tesla Inc. reports earnings Wednesday, May 3, 2017. (AP Photo/Richard Vogel) (Credit: AP) (AP) -- Electric car maker Tesla's first-quarter loss widened 17 percent to $330 million as it ramped up spending ahead of the launch of its Model 3 sedan and its solar panel business. The loss equaled $2.04 per share, compared to a loss of 78 cents a year ago. Excluding one-time items, Tesla re... Read More

Square reports $462 million in Q1 2017 revenue, gross payment volume of $13.6 billion

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Square’s ($SQ) first quarter 2017 earnings are out, revealing that it generated total net revenue of $462 million, a 22 percent annual increase and an earnings per share loss of $0.04. It continues to see its gross payment volume increase, coming in at $13.6 billion (a 33 percent year-over-year increase), but a drop from last quarter’s $13.7 billion amount. Wall Street analysts had been expecting the company to generate $450.76 million in revenue for the quarter with an earnings per share loss of $0.08. Shares in the commerce technology company were down 2.71 percent for the day to close at $18.30. In after-hours trading, the stock was up nearly 6 percent. With respect to gross payment volume, Square claimed th... Read More
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Stock indexes follow media and health care companies lower

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FILE - In this Oct. 8, 2014, file photo, a Wall Street address is carved in the side of a building in New York. U.S. stocks are down early Wednesday, May 3, 2017, as losses for Apple and other technology pull major indexes lower. Materials and health care companies are also slumping. The Federal Reserve is having its monthly meeting, although investors don't expect it to raise interest rates. (AP Photo/Mark Lennihan, File) (Credit: AP) (AP) -- U.S. stocks are falling Wednesday as media, t... Read More
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Bove on Trump's calls to break up banks: Asking consumers to take a hit

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Rafferty Capital Markets banking analyst Dick Bove on the Trump administration's impact on US banks' international operations and President Trump considering breaking up the investment banking side and consumer side of big Wall Street banks.... Read More