Business News

  • New NYC law, San Francisco lawsuit highlight global risks for Airbnb

    SAN FRANCISCO/BERLIN (Reuters) - Airbnb, the online lodging service that investors now believe is worth $30 billion, faces a reckoning. "Throughout the country, people representing cities have called me to ask what's going on with the litigation," he said.

  • Why Alibaba is a great speculative buy

    Alibaba is up 28% year to date -- less than 6% from its all-time high.

    The Street q
  • Cyber attacks disrupt PayPal, Twitter, other sites

    Cyber attacks targeting a little known internet infrastructure company, Dyn, disrupted access to dozens of websites on Friday, preventing some users from accessing PayPal, Twitter and Spotify. Dyn, whose customers include some of the world's most widely visited websites, said it did not know who was responsible for the outages that began in the Eastern United States, and then spread to other parts of the country and overseas. Dyn said attacks were coming from tens of millions of Internet-connected devices -- such as web cams, printers and thermostats -- infected with malicious software that turns them into "bots" that can be used in massive distributed denial of service attacks.

  • Automakers could be making a big mistake with their big bets on electric cars

    A hundred years ago, the electric motor lost out to the gas engine.  A century later...

    Business Insider
    TSLA $200.09 0.5%
  • Trump attorneys seek to bar his campaign comments at trial

    SAN DIEGO (AP) — In an unusual legal maneuver, Donald Trump's attorneys have asked a federal judge to exclude any statements made by or about the Republican nominee during the presidential campaign from his upcoming civil trial over the now-defunct Trump University.

    Associated Press
  • Indian bank authorities say 3.2 million debit cards hacked

    NEW DELHI (AP) — Indian banks scrambled Friday to contain the damage after finding that more than 3.2 million debit cards may have been hacked.

    Associated Press
  • South China Sea is a political powder keg

    This strategic waterway is a $5 trillion route for global trade. It also has a treasure trove of energy reserves China may soon begin to tap. China’s military buildup in the region may have something to do with securing this black gold.

    CNBC Videos
  • AT&T agrees in principle to buy Time Warner for $85 billion: sources

    AT&T Inc has reached an agreement in principle to buy Time Warner Inc for about $85 billion, sources said on Friday, paving the way for what would be the biggest deal in the world this year, giving the telecom company control of cable TV channels HBO and CNN, film studio Warner Bros and other coveted media assets. The deal, which has been agreed on most terms and could be announced as early as Sunday, would be one of the largest in recent years in the sector as telecommunications companies look to combine content and distribution to capture customers replacing traditional pay-TV packages with more streamlined offerings and online delivery. AT&T, which sells wireless phone and broadband services, has already made moves to turn itself into a media powerhouse, buying satellite TV provider DirecTV last year for $48.5 billion.

    TWX $89.48 7.82%
  • U.S. hopeful it can win Russia's agreement on Antarctic Ocean deal

    By Ben Gruber PALO ALTO, Calif. (Reuters) - After repeated failed attempts to establish an Antarctic Ocean sanctuary, the United States is hopeful it can sway Russia to agree to a plan that would protect a vast swath of what marine scientists call the most pristine body of water left on Earth. The Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) is meeting in Hobart, Australia, in a bid to find consensus for a deal to conserve and manage the marine ecosystems in the Antarctic Ocean, also known as the Southern Ocean. “We hope to bring Russia on board,” Evan Bloom, the head of the U.S. delegation, said in an interview on Friday.

  • Docs lay out media recommendations for kids, teens

    By Andrew M. Seaman (Reuters Health) - The quantity and quality of media children and teens consume should change with their age, according to new guidelines from the American Academy of Pediatrics. The organization also says parents should oversee children's media consumption and educate them about proper media engagement. "The big picture message is that parents have a huge role to play as guides and mentors for their young children about what technology means," said Dr. Jenny Radesky, who led the crafting of the new guidelines for young children.

  • GE cuts year revenue target on oil, gas weakness, has third quarter profit beat

    General Electric Co scaled back expectations for its full-year revenue and profit on Friday, overshadowing third-quarter profit that beat analyst forecasts and sending its shares lower. Weak global economies and low oil prices hit the industrial giant's sales of oil and gas infrastructure equipment especially hard. This limited GE's organic revenue growth, which excludes acquisitions, to just 1 percent in the quarter.

  • Motor racing-Vettel more focused on car than contract

    By Alan Baldwin AUSTIN, Texas, Oct 20 (Reuters) - Ferrari's Sebastian Vettel put talk of a contract extension to one side on Thursday and emphasised that his main priority was to help the team build a better car to take on dominant Mercedes. Formula One's most successful and glamorous team have yet to win this season, after four-times world champion Vettel enjoyed three victories last year, and are third in the standings behind Red Bull. Vettel, 29, will be in the final year of his contract next season, when the rules undergo a major shakeup, but he said there was no hurry to get a new deal wrapped up.

  • Fleeing Brexit to Berlin? Beware red tape, startups say

    Despite a slick campaign to lure companies from London to Berlin after Britain voted to leave the European Union, some of those which have moved say it is not as easy as it first appeared. Following the unexpected referendum decision in June, Germany's liberal Free Democrats hired a truck to drive around London with a billboard declaring, 'Dear start-ups, Keep calm and move to Berlin'. An ironic reference to a popular poster entreating Britons to Keep Calm and Carry On at the outbreak of World War Two against then Nazi-ruled Germany, it was soon followed by the opening of an official Berlin marketing office in London.

  • Wall Street Journal offers all news employees option to take buyouts: memo

    "We are seeking a substantial number of employees to elect this benefit, but we reserve the right to reject a volunteer based on business considerations," wrote Gerard Baker, the newspaper's editor in chief. A spokeswoman at Dow Jones declined to comment. Earlier this week, Dow Jones & Co Chief Executive William Lewis announced a three-year plan to cut costs in response to a decline in print advertising.

  • SharkNinja, Dyson end legal battle over advertising claims

    BOSTON (AP) — Two of the most well-known names in vacuum cleaners have ended a two-year legal battle over just how much their products suck.

    Associated Press
  • ECB decision day

    Simon Derrick, BNY Mellon provides a preview of Mario Draghi's interest rate announcement and whether to expect signs of easing from the ECB president.

    CNBC Videos
  • Why Baker Hughes (BHI) Might Surprise This Earnings Season

    Baker Hughes (BHI) looks like an exciting pick for investors as it is poised to beat at earnings season.

    BHI $52.35 0.19%
  • McDonald's U.S. sales revive amid stiff competition

    Sales at established U.S. restaurants rose 1.3 percent, amid industry softness that executives partly blamed on lower grocery prices that encouraged some diners to cook at home. The result from the United States, which accounts for about 40 percent of overall profit at McDonald's, just exceeded analysts' lowered expectations, and was not as robust as the 2 percent U.S. same-store sales gain reported by rival Dunkin' Brands Group Inc on Thursday. McDonald's international restaurants easily beat expectations on same-store sales growth in Britain, Australia, Canada and Germany.

  • Russian indicted in U.S. on charges of hacking LinkedIn

    (Reuters) - A federal grand jury in California has indicted a Russian man for hacking computers belonging to LinkedIn Corp , Dropbox and Formspring, the U.S. Justice Department said on Friday. Yevgeniy Nikulin was arrested on Oct. 5 by officials in the Czech Republic and remains in custody in Prague, the Justice Department said in a news release. LinkedIn said at the time of his arrest that it was related to a 2012 breach at the social networking company that may have compromised credentials of 100 million users, prompting a massive password reset operation.

  • ZTO spurns huge China valuations for benefits of U.S. listing

    Chinese logistics company ZTO Express is turning up the chance of a much more lucrative share listing at home in favour of an overseas IPO that lets its founder retain control and its investors cash out more easily. To steal a march on its rivals in the world's largest express delivery market, it is taking the quicker U.S. route to raise $1.3 billion for new warehouses and long-haul trucks to ride breakneck growth fuelled by China's e-commerce boom. Its competitors SF Express, YTO Express, STO Express and Yunda Express all unveiled plans several months ago for backdoor listings in Shenzhen and Shanghai, but ZTO's head start could prove crucial, analysts and investors said.