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Doubts Raised About Bloomberg's China Hacking Story
Last week Bloomberg Businessweek published a blockbuster story that detailed how manufacturing subcontractors in China allegedly carried out a complex attack on about 30 American companies, including Amazon and Apple, by implanting small microchips – “not much bigger than a grain of rice” – on the motherboard of servers used for compressing videos in a multitude of electronic devices. According
Report: SoftBank Could Be Making a Massive Bet on WeWork
SoftBank is in talks to make an investment in WeWork totaling between $15 and $20 billion, giving it a majority stake in the New York-based shared office space provider, the Wall Street Journal reports. The investment would likely be coming out of SoftBank's $92-billion Vision Fund, according to the Journal. In addition to SoftBank, the Vision Fund is mostly backed
Some Traders Were Prepared For Wednesday's Tech Slide
U.S. stocks tumbled Wednesday with the technology sector, the largest sector weight in the S&P 500, acting as the primary culprit. The tech-heavy Nasdaq-100 Index shed 4.40 percent while the Technology Select Sector Index dropped 4.85 percent. Not all traders were frowning, however. Positioning in some leveraged inverse technology exchange traded funds (ETFs) indicates some traders were prepared for Wednesday's
Tech Stocks Suffer Their Worst Day in More Than 7 Years
A bad day for the markets on Wednesday was especially brutal for tech stocks, which suffered its worst day since 2011. The S&P 500 Information Technology Index closed down 4.8 percent, which marks its biggest plunge since Aug. 18, 2011, according to CNBC. Meanwhile, the broader S&P 500 fell 3.3 percent and the Dow Jones Industrial Average dropped 3.2 percent.
Tesla's Largest Outside Shareholder Just Invested in its Biggest Chinese Rival
Well, this is interesting: Baillie Gifford, one of Tesla's largest shareholders, has now invested in the company's largest Chinese rival, as TechCrunch reports. The investment firm has taken an 11.44 percent stake in Nio, according to a regulatory filing with the Securities and Exchange Commission posted on Tuesday. Nio just went public on the New York Stock Exchange last month
Munster: 'Elon Musk's Desire to Win Every Battle May Cost Him the War'
Last week, Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk faced scrutiny for his tweets bashing the SEC just days after his securities fraud settlement. Loup Ventures’ Gene Munster weighed in on the erratic CEO’s behavior. What Happened “Elon Musk’s desire to win every battle may cost him the war,” Munster said in a Tuesday post. Ever since the initial go-private
5 Questions These VCs Think Founders Should Ask
When founders are actively fundraising, investors are usually the ones asking dozens—if not hundreds—of questions. But it’s not just founders who are selling themselves; venture capitalists, too, need to make a case for why an entrepreneur should trust them or give them a cut of their business. To ensure their relationship with investors is a partnership, it’s important that founders
3 Reasons To Buy Iqiyi – The 'Netflix Of China' – According To Jefferies
Streaming video provider Iqiyi Inc (NASDAQ: IQ), dubbed by some as being the "Netflix, Inc. (NASDAQ: NFLX) of China," offers investors a potential upside of nearly 30 percent, according to Jefferies. The Analyst Jefferies' Karen Chan initiated coverage of Iqiyi with a Buy rating and $33 price target. The Thesis The bullish case for Iqiyi is based on three factors,
Report: Google Hid Massive Data Exposure Because it Worried About Regulatory, Reputational Damage
A software glitch exposed the private data of hundreds of thousands of users on Google+ for about three years, but parent company Alphabet chose not to disclose the problem because it feared regulatory blowback and damage to its reputation, the Wall Street Journal reports. In response to the glitch, Alphabet is effectively shuttering Google+, which tried - but failed -
Is Mark Zuckerberg Still the Right Man to Lead Facebook?
When Tesla's shares rallied on Monday after the company settled the lawsuit filed by the Securities and Exchange Commission over Elon Musk's really dumb tweet, there was one big reason for the rally: As part of the settlement Musk was forced to step down as chairman for at least three years, but - more importantly - the S.E.C. is allowing