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This list will track the publicly traded companies that are making bets, big and small, on cryptocurrencies like bitcoin and ether. Yahoo Finance will update this list as new companies enter the crypto space.
It's back-to-school season, and that means there are plenty of deals available on today's hottest tech.
Intel's (INTC) first AI-chip to facilitate companies having higher workloads with accelerated inference. Notably, Facebook is already utilizing the chip.
More than $650 million in new funding, a pair of IPO filings and four acquisitions top the Bay Area's venture news at midweek. Here are the details.
Apple's new credit card doesn't spell trouble for established networks like Visa but could make Apple's digital wallet a stronger rival to PayPal's Venmo and Square Cash, one analyst says.
Western Digital (WDC) launches five new high storage-capable gaming drives, featuring high-performance capabilities to provide users with immersive gaming experience.
Microsoft Director of Real Estate and Facilities Keith Donovan said his team is using Microsoft Mixed Reality and HoloLens for presentations to leadership and its headquarters staff.
(Bloomberg Opinion) -- For 47 years, the Business Roundtable has lobbied on behalf of corporate America. Much of that time, it maintained a fiction(1) -- that the sole purpose of a corporation was to maximize profits on behalf of shareholders. This philosophy has been under assault for several years now, and this week the Business Roundtable announced it wants to put it to rest.In a widely circulated memo, the 200-member organization reversed itself, writing that "shareholder primacy” is no longer the sole purpose of a corporation. Instead, corporations must include a commitment to “all stakeholders,” which includes customers, employees, suppliers and local communities.Some kudos are in order for JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon, and chairman of the Business Roundtable, for driving these changes. He has been discussing the need for a more inclusive form of capitalism, both in public speeches and in his letters to shareholders, for some time.But turning this aircraft carrier around won’t be easy, in large part because of the group's own history. Indeed, the Roundtable has spent most of the past four decades advocating against the interests of those exact stakeholders. To cite some of the more notable examples:\-- It fought the rise of labor unions and pro-union legislation;\-- Helped to defeat antitrust bills;\-- Prevented the formation of the Consumer Protection Agency;\-- Opposed corporate governance changes to make boards of directors and CEOs more accountable to stockholders;\-- Fought proper accounting of stock options given as compensation to executives and insiders;\-- Opposed increases in the national minimum wage (it now favors increases);\-- Lobbied to prevent restrictions on executive compensation;\-- Fought legislation that would create cleaner energy and address climate change;\-- Pushed for corporate income-tax cuts;\-- Supported anti-consumer Supreme Court decisions, including the fiction that corporations are legal people, and that campaign donations equal speech. The Roundtable might respond that this is all in the past. Let’s hope so. But the organization has an even greater challenge: Scan the list of 181 signatories to the recent memo and it's a Who’s Who of corporate behavior that has burdened and disadvantaged the very stakeholders they will now champion.Consider a few of the signatories:\-- Amazon.com Inc. and Apple Inc.: Two of the most valuable companies in the world are famously effective at using various tax dodges to avoid paying their fair share. I can recall when the Internal Revenue Service went after maneuvers that serve no valid business purpose other than tax avoidance. Consider that what isn't paid in tax by those who avoid them must be made up for by those who do -- mostly average Americans who also happen to be customers of these companies.The share of federal tax revenue paid by corporations has dropped by two-thirds in the past seven decades -- from 32% in 1952 to 10% in 2013; and corporate income tax as a share of gross domestic product has fallen from about 6% in 1946 to about 1% today.\-- Visa Inc., Mastercard Inc. and American Express Co.: Show good faith by simplifying the incomprehensible small print in the cardholder agreement and spell out in clear language the terms and penalties for late payment. Second, eliminate mandatory arbitration clauses that take away the right of customers to seek redress in public courts.\-- Ameriprise Financial Inc., Morgan Stanley and Principal Financial Group Inc: The brokers and insurers on the list have been zealous opponents of the fiduciary rule. Instead, they prefer a less stringent rule that allows them to sell products that are better for them than for their customers. Until those firms -- and Citigroup Inc. and JPMorgan are in this group -- embrace a higher duty of care, their gestures toward stakeholders are hollow. Oh, and they should drop the requirement that customers agree to mandatory arbitration clauses as one of the conditions for opening a brokerage account.\-- Coca Cola Co. and PepsiCo Inc.: For years these companies have been helping the American public achieve record levels of diabetes and obesity by selling health-damaging sugary drinks. They should acknowledge and warn customers of the consequences of consuming too much of their products, and accept the same kinds of taxes and health warnings now affixed to cigarettes.\-- Deere & Co.: The maker of farm machinery has led the fight against customers, insisting that they not make repairs to the equipment they own, and denying them access to parts and instructions. Repairs can only be made by Deere service technicians in what has come to be known as a “repair monopoly.” Apple, by the way, does the same thing.\-- Walmart Inc. and McDonald's Corp.: Both were steadfast opponents of increases in minimum wages for years. Although both now offer higher minimum pay, it was only after a tightening labor market forced them to increase wages. But this wasn't a case of corporate altruism -- their stores were messy and employees were sullen, and pay increases were part of plans to keep ill-treated customers from defecting. (McDonald's is not a signatory to the Roundtable memo).For the Roundtable commitment to be meaningful, the signatories are going to have to alter their behavior in ways large and small, and maybe even in ways that aren't always optimal for maximizing short-term profits. Still, we should be encouraged. But the proof will be in the follow through and the actual actions of the Roundtable members.(1) In “The Shareholder Value Myth,” Lynn Stout explained how the entire theory is based on a misreading of a 1919 court case -- Dodge vs. Ford – at the time, both privately held, non-public companies.To contact the author of this story: Barry Ritholtz at email@example.comTo contact the editor responsible for this story: James Greiff at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Barry Ritholtz is a Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Goldman Sachs Group Inc's buyout arm is exploring the sale of Safe-Guard Products International LLC, which could value the auto warranty company at more than $1 billion, including debt, people familiar with the matter said on Wednesday. Goldman Sachs is working with advisers on an auction for Safe-Guard, though there is no certainty a deal will be reached, said the sources, who asked not to be identified because the matter is confidential. Goldman Sachs declined to comment.
A revenue miss was the last thing investors expected when PayPal delivered its second-quarter results in July. The stock has since bounced back.
(Bloomberg) -- Three companies — Amazon.com Inc., Microsoft Corp. and Alphabet Inc. — quietly dominate the world of cloud computing.With more more than 100 giant data centers worldwide, they rent out computing power to all manner of customers, making billions of dollars along the way. In fact, cloud computing has done more to fuel Amazon’s earnings in recent years than its e-commerce business.But there’s a threat looming on the horizon, quite literally at the edge of the network. With so many mobile devices and sensors now connected to the internet — and relying on artificial intelligence — more people and companies need their computing power close to them. For everything from fast analysis of road conditions to streaming holographic concerts, remote data centers are just too far away.That’s going to hand a huge opportunity to wireless carriers, which are building fast 5G networks to handle the task. And create a threat for the dominant cloud-computing players, according to telecom analyst Chetan Sharma. “Over time, cloud will be primarily used for storage and running longer computational models, while most of the processing of data and AI inference will take place at the edge,” said Sharma, who just wrote a report on the topic sponsored by software provider AlefEdge Inc. He pegs the size of this so-called edge-computing market at more than $4 trillion by 2030.Wireless carriers and the owners of cell towers have a big advantage in the edge-computing race: Not only do they control access to high-speed telecommunications networks, they have valuable real estate, such as tens of thousands of cell sites all over the country.Cloud computing isn’t going away by any means. But there’s more pressure on the industry’s Big Three to team up with wireless carriers, so they’re not left out of the burgeoning edge market.“The big players realize that at a minimum they need to partner up with operators to get access to their real-estate property,” Sharma said.Already, AT&T Inc. — the second-largest U.S. wireless carrier — has joined forces with Microsoft Corp. and IBM Corp., two cloud providers.“Our goal is that our partners are wildly successful,” said Sam George, a cloud executive at Microsoft. “If our partners are wildly successful, we’ll be wildly successful. There’s a lot of money to be made for partners.”Amazon and Google declined to comment on their plans.AT&T has hundreds of workers focused on edge computing, and it’s “a core part of our 5G strategy,” said Mo Katibeh, chief marketing officer of AT&T’s business division.“This is one that takes a village.”IBM, meanwhile, is also working with carrier Vodafone Group Plc in Europe.“The networks are essentially themselves becoming a cloud,” said Steve Canepa, IBM’s global managing director for the telecom industry. “The telcos today have a point of presence at the edge, and that becomes a great place to have an extension of the platform.”Cloud providers in China — such as Alibaba Group Holdings Ltd. and Tencent Holdings Ltd. — invested in carrier China Unicom two years ago. And more such investments and partnerships could be coming, Sharma said.For other tech companies, including chipmakers like Intel Corp., the hope is the shift leads to a bigger opportunity for everyone.“We see a rapid convergence between the cloud providers and connectivity providers,” said Caroline Chan, a general manager at Intel. “In our view, it’s a bigger pie.”Other telecom players are angling to team up with both carriers and cloud providers. Crown Castle International Corp., which owns fiber lines as well as more than 40,000 cell towers in the U.S., is in talks with the two camps, said Paul Reddick, a vice president at the company.Crown Castle also is an investor in startup Vapor IO, which is deploying edge computing this year in six metro areas, including Chicago.“I would say this is one that takes a village,” Reddick said.Other projects are already well underway. At CenturyLink Inc., about 100 facilities that used to store telecom equipment are now outfitted with servers. And it’s making them available to corporate customers in sectors like retail and industrial robotics.“We’ve already sold these facilities to a number of customers that need to get that compute closer to the network edge,” said Paul Savill, a senior vice president at CenturyLink. “We’ve seen enough activity in this space that we can confidently build out this infrastructure.”To contact the author of this story: Olga Kharif in Portland at email@example.comTo contact the editor responsible for this story: Nick Turner at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
During the blockchain hype of 2017 and 2018, it was difficult to establish who exactly needs a blockchain and why. The market became flooded with innovations, ideas, and scams as startups and established enterprises alike looked for ways to profit from the technological revolution. As the hype died down, many critics accused blockchain as being […]
The liquidity of Britain's short-term power markets is likely to fall by 10-20% if the country leaves the European Union without a deal at the end of October, a senior executive at the EPEX SPOT power exchange told Reuters. Britain is due to leave the European Union on Oct. 31. If it does so without a deal, it would no longer be coupled to European power markets.
Synchrony Financial's (SYF) interest income and strategic initiatives should aid revenue growth. This will likely boost its share price further.
Hewlett Packard's (HPE) Q3 fiscal 2019 results are likely to benefit from the growing momentum in Value Compute portfolio. However, a fall in the tier-1 server shipments is a downside.
Facebook's (FB) launch of Off-Facebook Activity tool is expected to strengthen privacy control initiatives, which will boost user engagement.
(Bloomberg) -- Goldman Sachs Group Inc.’s trading division is planning its biggest hiring spree in years. The catch? The entire effort is focused on coders, a sign of where Wall Street is headed.The firm is looking to add more than 100 engineers for tech-related roles on the trading floor in the coming months, according to Adam Korn, co-head of engineering in the trading division. Goldman plans to raid its rivals in the tech and finance industries, with most of the new positions to be based in New York and London.“You are going to see us very actively in the marketplace going after this kind of talent,” Korn said. “Historically, engineers were not seen as a part of the business. That’s obviously changed.”The firm is focused on adding people who can respond to the demands of trading partners seeking to automate, Korn said.Wall Street has been in a state of upheaval for the past decade, especially involving traders who sit in between buyers and sellers of stocks and bonds. Rapid advancements in technology have fundamentally altered the way that business gets done, enabling firms to cut staff as automation takes over. Banks are responding by allocating more resources to technology.The firm’s new management under Chief Executive Officer David Solomon approved the plan earlier this year.“We walked in there with our ‘Shark Tank’-esque plan,” Korn said. “The leadership group was excited and interested and the firm is putting money where its mouth is.”Marquee HiresThe hires at Goldman will help continue the build-out of Marquee, a trading and risk-management platform that the firm hopes will translate into a meaningful business line in its trading division.Goldman has also been overhauling its electronic-trading platform to serve large quant hedge funds, with an eye toward using advancements in trading tools that could then be deployed across a larger set of business partners. Reducing trading time, processing more requests and spitting out faster responses to queries would help generate more trades and more business.Raj Mahajan, a partner at the firm, has been a key part of the initiative, helping build out the technology backing the equity-trading operations. He was recently elevated to a new role that will make him responsible for all quant client needs.The effort has been making some inroads, with the firm last quarter scooping up more than $2 billion in quarterly revenue from equities trading and narrowing the gap with Morgan Stanley, which has held the mantle of Wall Street’s top equities-trading shop in recent years.That didn’t go unnoticed.“We’ve done over $2 billion a quarter, the first and second quarters, for a while now,” Morgan Stanley Chief Financial Officer Jonathan Pruzan said after the firm released second-quarter results. “A competitor did this for the first time in a long time.”To contact the reporter on this story: Sridhar Natarajan in New York at email@example.comTo contact the editors responsible for this story: Michael J. Moore at firstname.lastname@example.org, Steve Dickson, Daniel TaubFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The statement was made at Gamescom 2019, the world's biggest gaming event, which is being held through Aug. 24 in Cologne, Germany. Is Intel Really Best? Despite Intel's dominance in the CPU market, it has been slowly and ceding share to AMD since the second quarter of 2017, the year the Ryzen line of microprocessors was launched. At the event, Severson compared Core i9 990K to AMD's Ryzen 9 3900X, stating that in real-world testing, Intel's technology was superior among similarly priced products.
(Bloomberg) -- JPMorgan Chase & Co. is planning to shut down its Chase Pay app in the bank’s third reversal on digital offerings in three months.The company started informing customers Wednesday that they’ll no longer be able to use the product to pay with their smartphones when shopping in stores starting early next year, according to an email seen by Bloomberg. They’ll still be able to use Chase Pay on the websites and apps of retailers that accept it.It’s an about-face on a product introduced four years ago to compete with rivals such as Apple Inc. that are working to transform how consumers pay for products and services. New technologies have spurred a revolution in mobile payments, with Chinese companies leading the way in helping consumers bypass credit and debit cards. The U.S. market has been slower to develop.“When we started this, it was four years ago -- the payment space has changed a lot over the period of time and customer behavior has changed,” Eric Connolly, head of Chase Pay, said in an interview. “A lot of merchants have shifted to ‘buy online, pick up in store’ and have invested in their online presence and their apps.”The bank says it wants to capture a larger share of a market long dominated by PayPal Holdings Inc., whose digital wallet was accepted by about 70% of online merchants at the end of the second quarter. Fewer than 1% accepted JPMorgan’s, according to a study by industry publication PYMNTS.com.Pablo Rodriguez, a JPMorgan spokesman, declined to say how many online retailers currently accept Chase Pay, adding that the bank expects that number to increase. In a statement on Wednesday, the company said that GrubHub Inc. will soon accept it.Shares of the bank, which have climbed 11% this year, advanced 0.8% to $108.16 at 9:33 a.m. in New York.Finn, On DeckJPMorgan has shown a greater willingness than rivals to cut bait on unsuccessful projects as it spends more than $11 billion on technology initiatives designed in part to position the bank to stay ahead of changes in how consumers spend money.Some of the bank’s other digital experiments have failed to take hold. In June, it shut down digital bank Finn a year after rolling out the brand nationally. A month later, it cut ties with fintech company On Deck, whose technology platform it had used to originate online small-business loans.JPMorgan has been testing other technologies to lure consumers to spend more on its cards. It has been adding tap-to-pay technology to its cards and joined with Cardlytics Inc. to offer coupons for select merchants inside its mobile app. In February, it unveiled a prototype cryptocurrency, dubbed JPM Coin, that it plans to use to speed up payments between companies.(Updates with JPMorgan’s digital experiments starting in seventh paragraph.)To contact the reporters on this story: Michelle F. Davis in New York at email@example.com;Jenny Surane in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Michael J. Moore at email@example.com, Steve Dickson, Daniel TaubFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.