Across the country, university campuses are in limbo.
The California State University system has committed to online classes in Fall 2020. Northeastern University is reopening as normal. UT Austin is taking a hybrid approach: in-person classes until Thanksgiving break, then online classes during flu season.
This presents a special set of circumstances for university entrepreneurs. The traditional resources and networks are nonoperational. But time and focus, historically the most scarce resources for ambitious students, is now at an all-time high.
For years, Twitter (TWTR) and Facebook (FB) have enjoyed a healthy rivalry: They’ve competed for acquisitions, talent and advertising dollars, and sometimes gone so far as to copy each others’ features in the never-ending pursuit to grow their audiences.
But the clash between the two tech companies appeared to take on new life this week after Twitter’s decision to place fact-check labels on some of President Donald Trump’s tweets sparked a series of threats, including an imminent executive order regulating social media companies.
The CEOs of the two companies traded criticisms in public. Former employees posted their own jabs on social media. And some legislators were quick to highlight the differences between the approach Twitter and Facebook took, potentially only adding to the tensions.
Streaming TV, once heralded as a high-tech liberator that would save us from the headaches of big cable bundles, just got another big cable-like bundle yesterday with the launch of HBO Max.
WarnerMedia’s long-awaited rival to heavy hitters like Netflix and Disney Plus includes a broad mix of movies and TV shows from the Warner and HBO libraries, along with exclusive offerings you can find only on Max. It costs $14.99 a month and you can cancel it at any time.
Boeing announced Wednesday that the company is cutting over 12,000 jobs—most of those in the Seattle area—as the beleaguered air manufacturer deals with the fallout of the coronavirus pandemic that’s at times seen air travel drop over 90% compared to 2019.
The company plans to lay off 6,770 U.S. workers this week, with another 5,520 workers being asked to take buyouts in coming weeks.
Former Vice President Joe Biden said Amazon (AMZN) should “start paying their taxes” in a broader critique of large, successful businesses.
“I don’t think any company, I don’t give a damn how big they are, the Lord Almighty, should absolutely be in a position where they pay no tax and make billions and billions and billions of dollars,” the presumptive Democratic presidential nominee said in an interview with CNBC on Friday.
For the 2017 and 2018 tax years, Amazon’s own financial filings showed that it expected to receive money back from the federal government, not that it owed money in income tax. For the 2019 tax year, Amazon said it owed more than $1 billion in federal income tax, a figure experts said amounted to little more than 1% of its profits.
The new coronavirus “does not spread easily” from touching surfaces or objects, according to updated wording on the Centers for Disease Control and Prevention’s (CDC) website.
This change was made on May 11 without an announcement from the organization, according to NBC News. The change, which was made during an internal review of their website, was meant to “clarify other types of spread beyond person to person,” CDC spokesperson Kristen Nordlund told NBC News.
But there doesn’t appear to be any new data on how infectious viral particles are on surfaces, according to NBC News.
Robert P., a student loan borrower from Queens, New York, was surprised to find out that this credit score had dropped by 100 points after his federal student loans serviced by Great Lakes Higher Education were automatically placed into a forbearance. This happened following passage of the CARES Act. Another borrower named Ashley Higgins experienced a credit score drop during the same time period and told a local news affiliate about what happened. Other borrowers (who wished to remain anonymous) have reported similar credit score hits, as well.
As shares of Norwegian Cruise Line continued to sink like the Titanic—down 80% from the end of 2019 to $12 per share by late April—Scott Dahnke and his team at L Catterton were quietly eyeing the wreckage. The partners at his Greenwich, Connecticut, private equity firm had already made a killing by taking a cruise ship-based beauty chain public and they were focused on high-end brands. After all, the “L” in their name comes from their financial backing by LVMH, the French luxury goods giant and they had already scored a string of successes from investments in the upscale home decorator Restoration Hardware, Lily’s Kitchen, a London-based organic dog food maker and Peloton, the Internet-connected stationary bicycle concern
Bitcoin has just gone through a much-hyped adjustment that reduced the rate at which new coins are created.
The world’s biggest cryptocurrency’s so-called “halving” happens roughly every four years.
The digital currency relies on what are known as “miners”, who run software that races to solve complex maths puzzles in return for Bitcoins.
Monday’s halving event means that the reward for unlocking a “block” has been cut from 12.5 new coins to 6.25.
Heading into earnings season, you might have expected Uber and Lyft to suffer.
After all, global travel slowed toward the end of Q1, so how could these companies have done well? Continuing the same line of thinking, given that they are both unprofitable and are valued more on growth than trailing earnings, with growth slowing would there be much to celebrate?
The answer was a resounding “yes.” Uber and Lyft both rallied toward the end of last week following their successive earnings reports.
Today, let’s go back and remind ourselves how Uber and Lyft performed against Q1 expectations and what they said about the hits they took in March (Q1) and early April (Q2). Then we’ll ask ourselves why their shares rallied despite telling investors that their businesses had begun to fall sharply in the COVID-19 world.