Facebook has suspended Cambridge Analytica, a political data analytics firm that worked on Facebook ads for President Donald Trump during the 2016 presidential election, saying that it lied about deleting user data sent to it by the makers of a popular psychology test app. In a blog post, Facebook explained […]
CNBC News
Xi Jinping is re-elected as China’s president
China’s largely rubber-stamp parliament on Saturday unanimously re-elected Xi Jinping as the country’s president. The vote was witnessed by journalists inside central Beijing’s Great Hall of the People. The legislature is packed with delegates loyal to the ruling Communist Party meaning Xi’s re-election was never in doubt. On Sunday parliament […]
Attorney General Sessions fires FBI’s Andrew McCabe, who was slated to retire on Sunday
Attorney General Jeff Sessions has fired former Deputy FBI Director Andrew McCabe two days before he was slated to retire — and become eligible for full pension benefits. In a statement, Sessions said reports from both the Department of Justice’s Office of the Inspector General and the FBI’s Office of […]
Top VC deals: Apple buys Texture, Magna backs Lyft, Snoop Dogg raises a $45 million fund
Here’s a round-up of the most important deals in venture capital from the past week. Apple is acquiringNext Issue Media, makers of the online magazine subscription service Texture, the companies announced Monday. Next Issue Media had raised $50 million in growth funding from KKR previously. The company was started and […]
Nike executives’ departures reflect a larger cultural issue in Me Too era: Retail analyst
The departure of two top executives at Nike speaks to a larger cultural issue, said Liz Dunn, founder and chief executive officer of Pro4ma, a forecasting and analytics firm for retailers. “We’re seeing it all over corporate America,” Dunn told CNBC on Friday, referring to issues of workplace misconduct in […]
Cramer Remix: The magic ingredient sending Netflix to new highs
After a tech-filled week at CNBC’s 1Market in San Francisco, Jim Cramer started thinking about one of his favorite high-growth names in the space: the stock of Netflix. Up 66 percent year to date, Netflix’s stock is the best performer in the S&P 500. Better yet, shares of the streaming […]
Shkreli bragged exam would would show 150 IQ and ‘no overt psychological issues.’ — He was wrong
Convicted “pharma bro” fraudster Martin Shkreli boasted before being sentenced that a psychological examination would show “I have a 150 IQ and no overt psychological issues,” a new court filing reveals. Shkreli also suggested in jailhouse correspondence in January that he would publicly distribute the results of the exam because […]
Cramer: Betting against Netflix because of its content is a huge mistake
After a tech-filled week at CNBC’s 1Market in San Francisco, Jim Cramer started thinking about one of his favorite high-growth names in the space: the stock of Netflix. Up 66 percent year to date, Netflix’s stock is the best performer in the S&P 500. Better yet, shares of the streaming […]
United Technologies CEO: ‘We owe investors an answer’ on whether we’ll break up the company
After announcing at an industry conference that he was considering breaking up his massive industrial company, United Technologies CEO Greg Hayes elaborated on his thought process to CNBC. Speaking to “Mad Money” host Jim Cramer on Friday after United Technologies’ annual investor meeting, Hayes said that the potential split was […]
United Technologies CEO: A tit-for-tat tariff battle would be a problem for customers like Boeing
With U.S.-China trade relations teetering as the Trump administration ramps up its rhetoric on potential tariffs, United Technologies CEO Greg Hayes told CNBC that any escalation could have something of a ripple effect on his business and its customers. “We don’t want to see a trade war with China,” Hayes […]