The former security chief of Uber Technologies swore in a closed legal proceeding that he knew of no attempts to steal trade secrets from anyone, including Alphabet’s self-driving unit Waymo, and would be “shocked” if that had occurred. In a deposition taken in mid-December near San Francisco, Joe Sullivan, Uber’s […]
CNBC News
Top VC deals: Jaguar backs robo-taxis, Google buys Redux, Celgene buys new cancer drugs
Here’s a roundup of the most important deals in venture capital from the past week. Celgene acquired a developer of cancer drugs, Impact Biomedicines, in a deal valued at up to $7 billion the companies announced on Sunday. The deal entails a $1.1 billion initial payment to the start-up, and […]
Amazon lost cloud market share to Microsoft in the fourth quarter: KeyBanc
Amazon lost share in the public cloud business in the fourth quarter, while Microsoft continued to gain momentum, according to research from KeyBanc analysts. Amazon Web Services had 62 percent market share in the quarter, down from 68 percent a year earlier, KeyBanc’s Brent Bracelin and other analysts wrote in […]
Disney says Sheryl Sandberg, Jack Dorsey are leaving its board as Facebook, Twitter push into media
Walt Disney Co. said late Friday that Sheryl Sandberg and Jack Dorsey won’t be re-nominated to its board, citing conflicts of interest as Facebook and Twitter push further into Disney’s businesses. In its annual proxy filing, the media giant said it would propose a slate of 10 directors at its […]
Russia says it killed rebels behind swarm drone attack in Syria; experts see more such strikes ahead
Russia‘s defense ministry said Friday it tracked down and killed the group of militants responsible for a recent coordinated drone attack against one of its bases in Syria. Experts said swarm-like attacks using weaponized drones is a growing threat and likely to only get worse. They also said the possibility […]
After bitcoin’s rough week, currency strategist marks the next level to watch
Bitcoin has fallen double digits over the last week amid a slew of bad news, and one strategist said this loss of momentum could prove negative for the cryptocurrency in the near term. Boris Schlossberg, managing director of foreign exchange strategy at BK Asset Management, told CNBC’s “Trading Nation” that […]
Yogurt is cool, so deal talk is heating up
As Big Food continues to be starved for growth, deal activity is heating up in the yogurt section. The $7.6 billion yogurt category has been a rapidly evolving segment of the food industry for the past several years. Consumers continue to look to high-protein alternatives to their morning cereal, and […]
Cramer gets bullish on casino stocks like Wynn Resorts as Macau prospects improve
In February of 2016, CNBC’s Jim Cramer started recommending the stock of Wynn Resorts, which was then trading at about $79 a share. Since then, Wynn’s share price has nearly doubled — making it one of S&P 500’s best-performing stocks for 2017 — so Cramer thought it was worth revisiting […]
Walmart’s timing is ‘ridiculous,’ ‘there’s no strategy here,’ says brand analyst
What was Walmart thinking? The big-box retailer announced Thursday it was hiking pay and handing out one-time bonuses, which was applauded by many, including Treasury Secretary Steven Mnuchin. A few hours later, Walmart abruptly announced it was closing 63 of its Sam’s Club stores. “The timing is ridiculous,” branding analyst […]
Cramer’s game plan: JP Morgan set the benchmark. Now watch the banks
After hours of marveling at the tape’s incessant march higher, CNBC’s Jim Cramer took a step back to check the market layout. “What’s driving it? … Same as always: [a] stock shortage — it’s really been acute in the industrials — 401(k) money being thrown at the market, animal spirits, […]