Skyrocketing New York City rents can be blamed at least in part on the rise of the home-sharing service Airbnb, a new study has claimed. The report, released Tuesday, analyzed Airbnb activity between September 2014 and August of 2017 and was published by McGill University in Montreal. It was commissioned […]
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Meet the ‘airplane whisperer’ of Silicon Valley, who just joined an $800 million fund
As venture investors shift their focus from marketplaces and mobile apps to more complex fare, like AI and rockets, vetting start-ups can prove more challenging. That’s why they call Paul Willard, a former Boeing engineer and entrepreneur known as the “airplane whisperer” of Silicon Valley. A newly minted partner at […]
Cystic fibrosis treatment moves to final stage of testing, possibly boosting patient options
Vertex Pharmaceuticals said it’s chosen which two medicines to move into the final stage of testing in combination with two other drugs for cystic fibrosis, a key step to extending potential treatment options to 90 percent of patients with the devastating genetic disease. The Boston-based biotechnology company plans to start […]
Volatility is making a comeback, says Wells Fargo strategist
Market volatility is the new normal and there are many ways to make money off it, said Christopher Harvey, head of equity strategy at Wells Fargo. “Now you can start putting your money to work,” Harvey said Wednesday on CNBC’s “Fast Money.” “Now you have more ability to be tactical. […]
Trump’s State of the Union address underscores fractures within the GOP, too
The two parties displayed their divisions with nearly every punch line in President Trump’s State of the Union address. Republican lawmakers applauded; Democrats did not. Yet in a subtler way, the speech also underscored disagreements within his party. And those internal splits, as much as Democratic resistance, explain why enactment […]
Defense secretary considering ban on personal cell phones at Pentagon
The Department of Defense may ban the use of personal cell phones and other wireless devices such as Fitbits by civilian and military personnel at the Pentagon after new security concerns were raised about the threat they pose. A Pentagon official told CNBC on Wednesday that no decision has been […]
Highly debated Nunes memo on alleged FISA abuses furthers ‘conspiracy theory,’ Rep. Adam Schiff says
A fiercely disputed memo sent to President Donald Trump to be publicly released is little more than a “conspiracy theory,” said Rep. Adam Schiff, ranking Democrat on the House Intelligence Committee, in an op-ed for The Washington Post. Schiff said the memo on alleged Foreign Intelligence Surveillance Act abuses is […]
The number of people using Facebook daily in North America dropped for the first time
The number of people in the U.S. and Canada who check Facebook every day dropped between the third and fourth quarter of 2017, the first such quarterly drop in company history. Facebook usage in North America has been largely flat for the last several years, leaving international growth to pick […]
Lowe’s to give some employees bonuses of up to $1,000 and expand benefits due to tax reform
Lowe’s will follow rival Home Depot in giving thousands of its hourly employees a one-time bonus of up to $1,000 due to new tax legislation, according to an internal company memo reviewed by CNBC on Wednesday. The bonuses will be based on an employee’s length of service with Lowe’s, and […]
Forget Congress, FBI scandal proves we need term limits for federal workers
The argument for congressional term limits has been around for a long time. Polls over the last decade alone show an unusually steady and strong support for term limits at the 75 percent level. But the evidence is growing that the people America needs to get out of their entrenched […]