Alex Frommeyer comes from a family of dentists. Now, he has a start-up that sells dental insurance, but with a twist. The Columbus, Ohio, company, called Beam Dental, started out by selling Bluetooth-connected toothbrushes, meaning that their product communicates with an app. Once they got people using it, the founders […]
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After-hours buzz: TEVA, MON, MU & more
Check out the companies making headlines after the bell: Shares of Teva Pharmaceutical gained 4 percent in the extended session after a regulatory filing from Berkshire Hathaway published Tuesday revealed it has nearly doubled its stake in the company during the first quarter. Warren Buffett’s Berkshire also reported a larger […]
US intelligence reports: Russia’s new hypersonic weapon will likely be ready for war by 2020
A Russian weapon the U.S. is currently unable to defend against will be ready for war by 2020, according to sources with direct knowledge of American intelligence reports. The sources, who spoke to CNBC on the condition of anonymity, said Russia successfully tested the weapon, which could carry a nuclear […]
SoFi’s new CEO Anthony Noto touts growth of work and wealth programs in his first shareholder letter
SoFi CEO Anthony Noto, who left Twitter earlier this year to take over the online lender, has just sent his first quarterly letter to shareholders. While he didn’t address the sexual harassment allegations that led to the ouster last year of co-founder Mike Cagney, Noto did broadly discuss the establishment […]
Now you can pay for natural personal care products using bitcoin
On Monday, Schmidt’s Naturals, a personal care products company owned by Unilever, began accepting bitcoin for online payments. Michael Cammarata, co-founder and chief global strategy officer of Schmidt’s, told CNBC that in an era of cryptocurrency the company is giving consumers what they want. “Some of the [website’s] subscribers were […]
Goldman Sachs-backed start-up Circle introducing a crypto version of the US dollar
Fintech company Circle is looking make a better, faster, digital version of the U.S. dollar. The Goldman Sachs-backed start-up announced a new cryptocurrency pegged to the dollar, and a $110 million investment round led by profitable crypto mining company Bitmain, which brings Circle’s value near $3 billion, the company announced […]
Tesla is shutting down Model 3 production for six more days
Tesla will pause production at its California factory for six days at the end of the May to work on fixes to its assembly line for its new Model 3 sedan, sources inside the company told Reuters. The Silicon Valley luxury electric car maker previously warned of 10 days of […]
Rising rates could be problematic because the typical money manager working today has never dealt with them before
Interest rates are hitting multiyear highs at a time when most portfolio managers have never dealt with this phenomenon before. The U.S. 10-year Treasury note yield rose to its highest level since 2011 on Tuesday, while the the short-term two-year yield traded near levels not seen in about a decade, […]
Half of Americans predict a financially bumpy retirement, but the news isn’t all bad
Nearly one in two Americans anticipate an uncomfortable retirement. Don’t listen to them. People are pessimistic about their financial future, but when their later decades finally roll around, well, they’re not so bad, according to new findings from Gallup. Before retirement, just half of Americans foresee a comfortable old age; […]
These are the 30 most valuable VC-backed companies — 2 are worth more than $50 billion each
With a valuation of $69.6 billion, San Francisco-based Uber is the most valuable venture-backed company in the world. That’s according to recently released data from private financial market database PitchBook. Just behind Uber is the ride-hailing giant’s Chinese rival, Beijing-based Didi Chuxing, the world’s second most valuable venture-backed company at […]