|Day's Range||130.90 - 130.90|
Wall Street is typically not a fan of big government breaking up companies, but at least one equity analyst is all for it.
Yahoo Finance's Dan Howley takes a look at what a broken-up Google would look like. He joins Julie Hyman, Adam Shapiro and Dan Roberts.
Tesla, Waymo, General Motors and Netflix are the companies to watch.
How many times have you been asked something so incredibly straightforward that the effort of asking the question likely far surpasses the effort involved in just Googling it in the first place? Probably at least once or twice, hence the existence of LMGTFY . Until now there was no particularly easy way of directly sharing search results, but Google's working on that.
Bank of America CEO Brian Moynihan said his firm has “more to gain than anybody” from the booming trend of non-cash transactions.
Over the years, Apple has frequently highlighted its accessibility work in commercials, but the ad that ran for a minute and a half during game 5 of the NBA Finals was particularly powerful. In it, a man in a wheelchair — Ian Mackay, a disability advocate and outdoor enthusiast — issued the commands above to a waiting iMac.
(Bloomberg Opinion) -- Russian President Vladimir Putin is a man of routine, and one might have been tempted to ignore his 17th annual call-in show with voters as another pointless set piece. This year, however, the context made it more important than most of the previous ones: Putin, who’s trying to return to pedestrian domestic concerns after a long foray into great-power politics, is facing a drop in popularity and Russians’ growing fatigue.He made a valiant attempt to show he cares, but he ultimately failed. The spirit of what happened during the more than four-hour broadcast was best described by feminist blogger Alena Popova: “The citizens of a poor country call the president of some other, rich country”.For about a year, polls have shown that Russians are no longer elated about Putin’s ability to thumb his nose at the U.S., or enthusiastic about the 2014 Crimea land grab. They are tired of incomes stagnating far below the 2014 level, irritated by an increase in the retirement age and a hike on the value-added tax, and worried the country is moving in the wrong direction. Putin’s so-called national projects – a five-year, $400 billion infrastructure and social spending plan meant to signify his domestic comeback – have failed to register in the polls.Widespread poverty is a major issue. Former Finance Minister Alexei Kudrin, who now heads Russia’s budget accountability office, the Accounting Chamber, called it a “disgrace” this week that 19 million Russians, out of a population of 144 million, live below the official poverty line. He got a sharp rebuke from Prime Minister Dmitry Medvedev for his “populist rhetoric.”Other clouds hung over the Putin show: A growing movement against the proliferation of landfills and poor garbage collection, and a recent episode in Moscow, where an investigative journalist was seemingly framed for a drug offense and only released after angry protests that led to Putin’s personal intervention. The arrest of the reporter, Ivan Golunov, highlighted two issues: The excessive power and corruption of law enforcement agencies, and the ease with which police can turn anyone into a drug dealer by planting small quantities of controlled substances in one’s bag or apartment.Putin, by all appearances, took time for careful preparation before the call-in show. Official photographs showed him poring over a pile of questions he’d received ahead of the broadcast. During the show itself, the Russian president frequently interrupted the smooth production, cutting off the moderators in mid-sentence to read and answer sometimes irreverent questions that scrolled on giant screens in the TV studio. And at the very end of the broadcast, asked if he’d ever felt ashamed, he appeared to be near tears as he recalled an episode that, according to him, occurred early in his presidency. In some provincial town, he said, an elderly woman dropped to her knees to pass him a note. “I handed it over to my aides, and then it got lost,” Putin said. “I still can’t forget it.”The message was clearly supposed to be that Putin would never willingly ignore an ordinary Russian’s request. In reality, though, what he said in response to desperate pleas about low wages often sounded insensitive. When a teacher complained she was making just 10,700 rubles ($170) a month, Putin said something was wrong indeed: The minimum wage was supposed to be in line with the official subsistence minimum of 11,300 rubles ($179). When a civilian firefighter complained he couldn’t live on his 16,000 ruble salary, Putin said a uniformed officer in his job would be making 43,000 rubles.He also went into a long and patently incorrect spiel about how real disposable income was the wrong benchmark, and that people should watch the growth in nominal salaries instead. Putin, who has a Ph.D. in economics, said,Real disposable income, which statistics show are falling, consist of many indicators – that is, of income and expenses. One of the expenses these days is payments on loans, and banks offer loans to citizens, basically, against 40 percent of their salary, which, of course, is dangerous.Not many people in Putin’s audience could follow that pseudo-economic gibberish, let alone accept it in lieu of higher wages. But as if this weren’t enough, the president followed Medvedev’s lead in kicking Kudrin: He joked that the former minister’s views appeared to be moving toward those of an old leftist opponent, Sergey Glayzev. The only way for Kudrin to take this is as a calculated insult from his boss, who clearly didn’t appreciate his input at this critical moment.On issues that have caused recent protests, Putin’s performance was similarly subpar.Ahead of the call-in show, residents of the Arkhangelsk and Komi regions in northern Russia, who have resisted the construction of an enormous landfill for Moscow’s excess garbage, recorded a video for Putin. Addressing him without a customary honorific, they demanded that he stop the project, which they said would poison the local water supply. On Thursday, a large crowd of locals gathered near Shies railway station, where the landfill is being built, hoping to be noticed during the call-in show. Instead, Putin got a couple of softer questions about the problems of his “garbage reform,” meant to improve waste collection and disposal, and was given a chance to resolve a different water-related problem – that of a town near the oil city of Tyumen where residents had lived for years without running water. As usual during the call-in shows, the governors of all Russian regions and key ministers stood ready to deal with questions and take Putin’s orders via video link as needed, and Putin publicly told the Tyumen governor to deal with the complaints. Shies and the landfill project, a rallying point for environmental protesters in the last few weeks, didn’t get a mention.Asked whether he felt personally responsible for corruption in Russia, Putin replied glibly, “Of course I do, otherwise you wouldn’t even know about any corruption cases.” And, prodded on the excessive harshness of the drug laws, he said stubbornly that he was against any kind of liberalization and that police officers simply need better supervision to prevent abuses.The message a Russian citizen might get after four hours of this was that Putin could personally take care of any problem if it was a simple matter of giving an order. If you have a problem like that, finding a way to Putin will get results. On the tougher issues, though, Putin, as ever, finds it easier to troll and dissemble than to offer solutions. That isn’t going to endear him to anyone. On average, the ratio of dislikes to likes in the five YouTube broadcasts of the call-in show was about nine to one. That could be skewed by Ukrainians, who often make a point of expressing their feelings about Putin when he makes him major appearances. But I doubt the Russian president will get a bump in the polls after such a performance.Putin, of course, isn’t on the verge of being overthrown. But he’s gradually losing the voters who have backed him through thick and thin – the ordinary people in small towns and villages, who are older, poorer and more dependent on government support than the relatively cheeky urban Russians. That loss could be catastrophic – if not for Putin himself, then for his plans to engineer a smooth succession.To contact the author of this story: Leonid Bershidsky at firstname.lastname@example.orgTo contact the editor responsible for this story: Tobin Harshaw at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Leonid Bershidsky is Bloomberg Opinion's Europe columnist. He was the founding editor of the Russian business daily Vedomosti and founded the opinion website Slon.ru.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
There’s talk of Dow 29,000 and even 32,000. With low interest rates, high stock prices may be justified, though risks are rising as well.
Microsoft is a leader in the rapidly expanding cloud-computing market. Here is how Microsoft stock's technicals and fundamentals look before its Q1 report.
Alphabet unit Waymo will study self-driving car services to move people and goods with Renault and Nissan.
(Bloomberg Opinion) -- As Slack Technologies Inc. flips a switch later Thursday and becomes a public company, it’s another sign of how far the world has progressed beyond the old times of corporate technology. What’s different now is that it actually matters what you want.Until the last decade or so, the technology that workers used in office jobs was largely chosen by bosses far above them. The computer at the desk, the email system, the software that workers used to keep track of expenses or crunch a business unit’s finances were all imposed on them. And it was frequently terrible, because ease of use wasn’t necessarily an important quality to sell software. Cubicle jockeys have a lot more say in what tech they use at work these days. Relatively young software from the likes of Slack, Box Inc., Zoom Video Communications Inc., Google’s G Suite and SurveyMonkey parent SVMK Inc. have free or inexpensive versions for people to try by themselves. The idea is that a few workers will test it out unofficially and like it enough to persuade their employers to pay for the tech because it helps them do their jobs more effectively. And many companies are listening. This “bottom-up” business strategy has become a standard approach for cloud software aimed at businesses. Similar tactics were key for Amazon Web Services and other services used by technical specialists inside companies, and that has spread to more departments.Slack is perhaps the apotheosis of the bottom-up boom. Video conferencing or spreadsheet software can be useful even if one person at a company uses it. But team communication software like Slack is truly only handy if a critical mass of people are using it. That’s why Slack needs to win over workers and then persuade their bosses to pay for versions that are tuned to a corporation’s security and data-compliance needs. (Bloomberg Beta, the venture capital arm of Bloomberg LP, is an investor in Slack.)Some things in corporate IT don’t change, though. Young cloud software companies like Slack still court systems-integration firms that customize technology for corporations and other large organizations. The bottom-up crew also builds sales teams to pitch software at big companies, and those salespeople still get expensive cars when they sign up big customers.And like the Oracle and Microsoft of old, young companies still want to stitch their software into many other corporate technologies, which makes their product harder to ditch. They want, in short, to become a “platform” — a word that appeared 39 times in Slack’s prospectus for potential investors and more than 300 times in Zoom Video’s IPO document in April. Another thing that hasn’t changed from software’s olden days, at least for Slack, is a dependence on a relatively small number of big customers. Slack says it has more than 10 million daily users and 600,000 organizations that pay for use by three or more people. But about 40% of Slack’s revenue in the latest fiscal year came from just 575 organizations writing at least $100,000 in annualized checks to Slack. The company might be bottom-up in strategy, but it still needs the whale customers to pay its bills. Slack isn’t alone in this regard. Domo Inc., which makes corporate data analysis software, generates nearly half of its revenue from 450 top-paying customers. At Zoom, a few hundred customers generate 30% of revenue. Of course, some kinds of technologies — think databases or inventory-management systems — aren’t likely to appeal to employees and instead are pitched straight to tech-buying executives. That probably won’t stop startups from trying the new approach, though.Courting the rank-and-file is now standard procedure for many types of software. But one old fashioned tactic has lasting appeal: Persuade big companies to write big checks. A version of this column originally appeared in Bloomberg’s Fully Charged technology newsletter. You can sign up here. To contact the author of this story: Shira Ovide at firstname.lastname@example.orgTo contact the editor responsible for this story: Daniel Niemi at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
are pondering making significant changes to the company's approach to children's content on its massive YouTube platform, including potentially shifting all of its children's videos into the stand-alone YouTube Kids app, The Wall Street Journal reported. Citing people briefed on the discussions, the Journal reported that Google executives are debating the move to better protect young viewers from objectionable videos.
Billionaire Google co-founders Larry Page and Sergey Brin on Wednesday easily swatted down 13 shareholder proposals, many of which sought to limit their total control over the sprawling Internet giant they created 20 years ago.
As the Trump administration puts tariffs on a range of imported goods and pushes a replacement deal for Nafta, lobbying on trade-related issues could set a new record this year.
U.S. stock futures rose sharply on Thursday and global stocks charged higher amid signals of lower interest rates from the Federal Reserve. Fed Chairman Jerome Powell and his colleagues on the Federal Open Market Committee dropped a reference that they would be "patient" in monitoring incoming data in a statement Wednesday, following the central bank's decision to hold interest rates steady. The Fed instead said it would act "as appropriate" in order to sustain an economic expansion of nearly 10 years.