Twitter’s revamp of its advertising offering bore fruit in the second quarter as it reported a sharp jump in revenue and signalled plans to build out its ecommerce capabilities. In a letter to shareholders, Twitter cited “revenue product improvements, strong sales execution and a broad increase in advertiser demand” as primary drivers of a 74
Investing
Intel’s chief executive said more consolidation was needed in the chip manufacturing industry, days after a report that the US chipmaker was in talks to buy GlobalFoundries for $30bn. “We just view that smaller players won’t be able to keep up,” Pat Gelsinger said. Speaking on a call with analysts to discuss Intel’s latest earnings,
If you were offered $100 today or $100 a year from now, which would you choose? Would you rather have $100,000 today or $1,000 a month for the rest of your life? Net present value (NPV) provides a simple way to answer these types of financial questions. This calculation compares the money received in the
Mark “Forger” Stucky, after piloting the company’s first successful spaceflight on December 13, 2018. Virgin Galactic Mark “Forger” Stucky, Virgin Galactic‘s flight test director and pilot, is no longer with the space tourism company. “I am now a former Director of Flight Test and former SpaceShipTwo pilot,” Stucky wrote in a post on LinkedIn. He
Artificial intelligence has solved one of the greatest puzzles in biology, by predicting the shape of every protein expressed in the human body. The research was carried out by London AI company DeepMind, which used its AlphaFold algorithm to build the most complete and accurate database yet of the human proteome, which underpins human health
Bitcoin, which dipped below $30,000 earlier this week, is back above $32,000 today, after influential tech chiefs Elon Musk and Jack Dorsey voiced their support at a conference on Wednesday. Musk disclosed for the first time that his private rocket company SpaceX holds bitcoin and that Tesla would “most likely” resume accepting it as payment
Many businesses offer some form of qualified retirement plan and, in doing so, they fall under the governance guidelines of the Employee Retirement Income Security Act of 1974, better known as ERISA. ERISA establishes guidelines and minimum standards designed to protect employees of private sector companies who participate in retirement and welfare benefit plans. Businesses
Tokyo 2020 has fired the director of its opening ceremony a day before it takes place after footage of him joking about the Holocaust appeared on social media. The departure of Kentaro Kobayashi, who made the reference during a 1998 comedy routine, threw the opening ceremony into further chaos, following the resignation of composer Keigo
The UK business secretary confirmed the government was “monitoring” the situation as supermarkets apologised for empty shelves due to workers being forced to self-isolate after having contact with people with coronavirus. “I know we are seeing shortages,” he said. “I’ve seen the pictures today. We are very concerned about some developments,” said Kwasi Kwarteng. Business
The old adage about how your brand new car instantly plunges in value as soon as you drive off the lot? There is some truth to it. Cars tend to depreciate quickly, while other items hang onto their value longer. So which items will you be able to sell later for a decent price, and
Local governments in China are racing to launch rescue funds worth billions of dollars to bail out state-owned groups after a flurry of high-profile bond defaults that shook international investors. Public records showed that six Chinese provinces have committed at least Rmb110bn ($17bn) to the funds since the end of last year, as a cash
Online brokerage pioneer Thomas Peterffy told CNBC on Wednesday he’s invested in cryptocurrencies, while still expressing skepticism over the long-term future of the digital asset class. “Even I myself have put a little bit of money into crypto, because even though chances are, I think, that this is not going to be a viable market,
Australia has warned that the United Nations Educational, Scientific and Cultural Organization (Unesco) risks denting its own credibility if it follows through with a proposal to put the Great Barrier Reef on its “in danger” list. Warren Entsch, Australia’s Great Barrier Reef envoy, said he hoped the UN World Heritage Committee would reverse a draft decision
The oil and gas industry in the United States has enjoyed record levels of production in recent years, thanks primarily to hydraulic fracturing, commonly known as fracking. In 2018, the U.S. became the top producer of oil and natural gas in the world, ahead of Russia and Saudi Arabia. This is due to hydraulically fractured
Shares in Bridgepoint Advisers soared 29 per cent on their debut, as investors raced to back the rare listing of a buyout group in London during a global boom for the private equity industry. Bridgepoint’s electric first day of trading comes after private equity firms struck more than $500bn of deals in the first half,
Joe Biden’s $1tn bipartisan infrastructure package was in legislative limbo on Wednesday with Republicans intent on blocking its progress in Congress, leaving Democrats scrambling to rework the deal. The likely defeat of the plan in a procedural vote later on Wednesday does not mean that its chances are doomed, since centrist lawmakers from both parties
Financial planning is a rewarding career with a strong job outlook. While financial planning jobs are abundant, the competition for them is intense, which makes acing the job interview of paramount importance. First impressions matter. A good first impression gives you an immediate leg up. A bad one, by contrast, can put you in a
Novartis is hoping to cement an early lead in a potential $10bn market for a new type of cancer treatment, called novel radioligand therapy, after positive results from its trials. Vas Narasimhan, Novartis’s chief executive, said the pharmaceutical company has large-scale manufacturing capacity and relationships with hospitals, which will have to invest to adapt to
The banking industry needs to take a different approach to building new technology if it is to keep up with innovation at fintech companies, according to the former head of Goldman Sachs Asset Management, Sheila Patel. Growing competition from start-ups has contributed to increased spending at the top US banks, but they could be better
Is a mortgage or car loan in your future? If so, there are a few things you should know before you try to make that dream a reality. Buying a home or a car is a huge financial responsibility, one that requires a lot of time, discipline, and money. Most of us don’t have enough
Google and Mukesh Ambani’s Jio are hoping to crack one of the world’s largest untapped smartphone markets, launching a device they hope will be cheap enough to convert 450m Indians on “dumb” handsets into smartphone users. The JioPhone Next, a successor to Ambani’s earlier-generation JioPhone, has been designed by the companies to run a custom version of
The New Shepard Blue Origin rocket prepares to lift-off from the launch pad carrying Jeff Bezos along with his brother Mark Bezos, 18-year-old Oliver Daemen, and 82-year-old Wally Funk prepare to launch on July 20, 2021 in Van Horn, Texas. Blue Origin | Anadolu Agency | Getty Images VAN HORN, Texas — Jeff Bezos‘ space
Netflix lost 430,000 subscribers in the US and Canada in the second quarter and issued weaker than expected forecasts for later in the year, rekindling investor doubts over how the streaming group will fare after the economic reopening. The California-based company predicted it would add 3.5m subscribers in the third quarter, disappointing investors who were
A trip to Europe can be one of the more memorable voyages of your life. But the last thing you want to do is sour your voyage by finding yourself unable to pay for dinner or train fare while you’re there. If a vacation or business trip is on the horizon, here are some things
US health officials said the more contagious Delta variant now accounts for more than 80 per cent of new coronavirus cases in the country, a dramatic increase that has underscored how quickly the more contagious strain is spreading. “[The] CDC has released estimates of variants across the country and predicted the Delta variant now represents
Afghanistan’s presidential palace in Kabul came under rocket attack on Tuesday as President Ashraf Ghani attended prayers for the Muslim festival of Eid-al-Adha. The assault came as the resurgent Taliban tightens its grip on the country with the US preparing to close its military mission to Afghanistan at the end of next month. The Islamist
Oil is the crown jewel of commodities that is used in a multitude of ways in our lives, from plastics to asphalt to fuel. The oil industry is an economic powerhouse and the movements of oil prices are closely watched by investors and traders. Changes in oil prices can send shockwaves throughout the global economy.
European equities rose on Tuesday as investors hunted for bargains following a global stock downturn in the previous session driven by the threat of the Delta variant of coronavirus. The Stoxx 600 index rose 0.9 per cent, following its biggest drop of the year. Energy companies listed on the regional benchmark gained 1.3 per cent,
China has challenged US-led accusations that Beijing was at the heart of a wave of global cyber attacks including an offensive against a Microsoft email application that affected tens of thousands of organisations. Diplomats across the EU, UK, Canada, Norway and New Zealand issued statements on Tuesday slamming the allegations as “groundless” and a “malicious
Editor’s note: Below you’ll find the week 47 release of the NYC Recovery Index, originally published July 16, 2021. Visit the NYC Recovery index homepage for the latest data. New York City’s economic recovery made some progress as of July 3, though not enough to raise its overall score, which settled at 74. A sustained