President Trump is stumping for his sweeping $1.5 trillion infrastructure plan on Thursday, as the proposal appears to be stalled in Congress. We certainly need to fix our roads and bridges. But the plan as it stands would starve our public transportation systems of funding. It slashes money for crucial […]
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Cramer: Tim Cook’s comments show that the ‘long knives’ are out for Facebook after data leak
The “long knives” have been drawn for Facebook after a slew of criticism over its data privacy practices, CNBC’s Jim Cramer said Thursday. Cramer was particularly surprised by Apple CEO Tim Cook‘s recent comments about Facebook’s data leak. Cook criticized the social media company during an interview Wednesday with Recode’s […]
‘Pink tax’ means women still pay more for goods and services
Is pink a luxury color? That’s what France’s State Secretary for Women’s Rights, Pascale Boistard, asked on Twitter in 2014. She was making the point that women pay a kind of “pink tax” whenever they are charged more for “feminine” items, or even general services, such as dry cleaning. Four […]
Overstock.com stock offering canceled, source says; shares rise
E-commerce company-turned-blockchain play Overstock.com‘s 4 million share offering has been canceled, according to a source familiar with the situation. Underwriter Guggenheim Securities decided late Wednesday night not to proceed due to market conditions, the source said. Overstock shares traded 3 percent higher near $37.70 a share Thursday morning. The stock […]
Starbucks gets downgraded as analyst predicts weaker than expected China sales
Starbucks’ big expansion into Asia will underperform the company’s guidance, according to one Wall Street firm. Wedbush Securities lowered its rating to neutral from outperform for Starbucks shares, predicting the company’s sales growth will come in below expectations next year. Starbucks management said on Jan. 31 the company’s China business […]
Will Ferrell says he can ‘no longer, in good conscience’ use Facebook
Comedian Will Ferrell has joined the small chorus of public figures signing off Facebook for good. “I know I am not alone when I say that I was very disturbed to hear about Cambridge Analytica’s misuse of millions of Facebook users’ information in order to undermine our democracy and infringe […]
Stocks making the biggest moves premarket: GME, PVH, FB, SBUX, STZ, MOV & more
Check out which companies are making headlines before the bell: GameStop – GameStop beat Wall Street estimates by 5 cents a share, with adjusted quarterly earnings of $2.02 per share. The video game and console retailer saw revenue come in ahead of estimates, as well. Comparable-store sales jumped by 12.2 […]
Florida school massacre survivor David Hogg seeks boycott of sponsors of Fox’s Laura Ingraham
Florida school massacre survivor David Hogg, who has turned into fierce gun control advocate, is asking his 599,000 Twitter followers to boycott advertisers of Fox News host Laura Ingraham. The conservative commentator mocked Hogg on Twitter on Wednesday after the 17-year-old revealed in an interview on TMZ that his applications […]
China is taking the first steps to pay for oil in yuan instead of US dollars this year: Sources
China is taking its first steps towards paying for imported crude oil in yuan instead of the U.S. dollar, three people with knowledge of the matter told Reuters, a key development in Beijing’s efforts to establish its currency internationally. Shifting just part of global oil trade into the yuan is […]
China warns US not to open Pandora’s Box and unleash a trade war on the world
China warned the United States on Thursday not to open Pandora’s Box and spark a flurry of protectionist practices across the globe, even as Beijing pointed to U.S. goods that it could target in a deepening Sino-U.S. trade dispute. China could target a broad range of U.S. businesses from agriculture […]