Markets watching for a steady hand in Powell as he navigates Congress for the first time

Markets watching for a steady hand in Powell as he navigates Congress for the first time

The Fed rocked the markets in the past week, and there’s a risk it could do so again when Fed Chair Jerome Powell speaks for the first time to Congress. Powell delivers his semi-annual economic testimony before House and Senate committees Tuesday and Thursday, in his first major appearances as chairman. How he views signs of rising inflation and any clues about the pace of interest rate hikes will be important. Powell is expected to…

Read More

Astronomers spotted Elon Musk’s Tesla in orbit

Astronomers spotted Elon Musk’s Tesla in orbit

If you look up in the sky and think you see a shooting star — you might just be looking at Elon Musk’s Tesla Roadster floating in space. A group of astronomers spotted the red coupe with a high-powered telescope in Arizona. The Roadster was launched into orbit aboard SpaceX’s Falcon Heavy rocket on February 6 and is currently in orbit around the Sun, 3 million miles from Earth. SpaceX initially intended for the car…

Read More

Facebook removes violent Oculus VR game demo from kiosk at conservative political conference

Facebook removes violent Oculus VR game demo from kiosk at conservative political conference

Facebook showed a violent virtual reality game demonstration in its kiosk at a conservative political conference near Washington, then removed the demo out of respect for recent school shooting victims in Florida after at least one attendee shared a video of it on Twitter. The demonstration was part of a highlight reel used to promote its Oculus virtual reality game unit. That reel was included in Facebook’s booth at the Conservative Political Action Committee event,…

Read More

The market just woke up after hitting the ‘afternoon snooze button’ all week

The market just woke up after hitting the ‘afternoon snooze button’ all week

You snooze, you lose? On Friday, the Dow surged into the market close and reversed a unique pattern evident over the course of the last four trading sessions. According to an analysis by Piper Jaffray, the Dow had been experiencing what felt like an “afternoon snooze button” of sorts; the index was for the most part rising in the first half of the trading day, then dropping off much more notably in the second half….

Read More

Georgia just handed Atlanta a new political problem in bid for Amazon HQ2

Georgia just handed Atlanta a new political problem in bid for Amazon HQ2

Georgia’s Senate passed a bill Friday that won’t necessarily help Atlanta’s chances of landing Amazon HQ2, the second North American headquarters for the technology giant that 20 metro areas are vying for with a decision expected from Amazon by year-end. The Georgia bill, called Senate Bill 375, or the “Keep Faith in Adoption and Foster Care Act,” allows adoption agencies funded by tax dollars to decline referrals if doing so would violate “sincerely held religious…

Read More

Warren Buffett will retire from board of Kraft Heinz

Warren Buffett will retire from board of Kraft Heinz

Kraft Heinz announced Friday that Warren Buffett will be retiring from its board when his term ends at the company’s upcoming annual meeting. In its statement, Kraft Heinz said Buffett decided to step down “as he decreases his travel commitments.” Alex Behring, chairman of the board, said Buffett made “many invaluable contributions” to the company. Behring also said the board looks forward to continuing its partnership with Buffett’s Berkshire Hathaway. Berkshire is the company’s largest…

Read More

Dropbox shows how it manages costs by deleting inactive accounts

Dropbox shows how it manages costs by deleting inactive accounts

Dropbox employs a somewhat unusual technique to lower its costs, the cloud software company revealed on Friday in its filing to go public. In a process the company calls “infrastructure optimization,” Dropbox said it deletes users’ accounts if they don’t sign in for a year and don’t respond to emails. That keeps the company from incurring storage costs for inactive users, a tactic Yahoo has used in the past. Dropbox said that the costs of…

Read More

Special counsel accuses Manafort of secretly paying former European politicians on behalf of Ukraine

Special counsel accuses Manafort of secretly paying former European politicians on behalf of Ukraine

Special counsel Robert Mueller is accusing President Donald Trump‘s former campaign chairman of secretly paying former European politicians to lobby on behalf of Ukraine. The new allegation against Paul Manafort comes in a newly unsealed indictment made public Friday. The indictment followed a guilty plea by Manafort’s longtime business associate, Rick Gates. The indictment accuses Manafort of paying the former politicians, informally known as the “Hapsburg group,” to appear to be “independent” analysts when in…

Read More

Bitcoin and blockchain consume an exorbitant amount of energy. These engineers are trying to change that

Bitcoin and blockchain consume an exorbitant amount of energy. These engineers are trying to change that

If blockchain technology is going to revolutionize how we transact with each other, computer scientists need to solve one big problem: It can consume way too much energy. The original blockchain, which underlies bitcoin, runs on an algorithm that could eat up more energy than Argentina this year, Morgan Stanley estimated. “Businesses have every incentive to avoid bitcoin’s waste. It’s very, very expensive to run things the way bitcoin runs things,” said Cornell University computer…

Read More

Your retirement account might be invested in guns. Changing that isn’t easy

Your retirement account might be invested in guns. Changing that isn’t easy

Perhaps you’ve recently wondered if your money is in gun stocks, and if you can or should take it out. Warning: The answer is complicated. It’s very possible that you are an investor in the major gunmakers. An analysis by the nonprofit advocacy group Goodbye Gun Stocks found that 35 percent of U.S. stock mutual funds contain investments in a maker or retailer of guns and ammunition. You can check to see if your investment…

Read More
1 2 3 219