1 +11y+ ago
2 +11y+ ago
3 +11y+ ago
If there is one quote that sums up the ethos of Uber, it might be this cut from the company’s firebrand CEO Travis Kalanick: “Stand by your principles and be comfortable with confrontation. So few people are, so when the people with the red tape come, it becomes a negotiation.” But after a month marked by one disaster after another, it’s hard to see how Uber’s defiant, confrontational attitude hasn’t blown up in its face. And those disasters mask one key, critical issue: Uber is doomed because it can’t actually make money.
Submitted on February 24th 2017 by Nelson
4 +11y+ ago
5 +11y+ ago
Greek pensioner Dimitra says she never imagined a life reduced to food handouts: some rice, two bags of pasta, a packet of chickpeas, some dates and a tin of milk for the month. At 73, Dimitra - who herself once helped the hard-up as a Red Cross food server - is among a growing number of Greeks barely getting by. After seven years of bailouts that poured billions of euros into their country, poverty isn't getting any better; it's getting worse like nowhere else in the EU.
6 +11y+ ago
Last week's landmark ruling compelling a Swedish ISP to block The Pirate Bay won't spread quickly, despite copyright holders' wishes. Telecoms giant Telia says that the ruling does not apply to them, so connectivity to the site will continue unless a court orders otherwise. Copyright holders are assessing their options.
Submitted on February 21st 2017 by tukka
7 +11y+ ago
Maybe Mexico's "contingency plan" for President Trump is working out after all. Mexico's currency, the peso, is one of the best performers in the world in February, up over 5%. Before the U.S. election, the country's central bank started implementing what its governor, Agustin Carstens, called a "contingency plan." Carstens says Trump's potential policies would hit Mexico's economy like a "hurricane."
Submitted on February 25th 2017 by yuriburi
8 +11y+ ago
Shares in HSBC have fallen after the bank reported a steeper-than-expected fall in annual profits. It reported a $7.1bn (£5.7bn) pre-tax profit for 2016, down 62% on the $18.9bn reported a year earlier. HSBC attributed the fall to a string of one-off charges, including the sale of its operations in Brazil.
Submitted on February 22nd 2017 by funhonestdude
9 +11y+ ago
Kumar, originally from the eastern state of Uttar Pradesh, joined the budding startup with an initial monthly salary of Rs8,000 ($120). As one of the first employees, Kumar was signed up for the employee stock ownership plan. He didn’t fully understand how it worked, but did grasp that it might yield long-term benefits.
Submitted on February 25th 2017 by Hero
10 +11y+ ago
In what's being described as a landmark case, a businessman accused of disappearing from China, after withdrawing a loan there equivalent to $10 million and reappearing in Vancouver in possession of several multi-million dollar Lower Mainland properties, has been ordered to repay the money. In June 2016, lawyers for China CITIC Bank brought an application before a B.C. Supreme Court judge to freeze the assets of Shibiao Yan, who was accused of approving the withdrawal of a 50 million RMB line of credit extended to a company he controlled in China and never repaying it.
Submitted on February 26th 2017 by ppp
11 +11y+ ago
While Uber does damage control for its reputation, competitor Lyft is sinking its teeth into more markets. Lyft is entering 54 new cities in its largest expansion to date, the company announced Thursday. New markets include Pensacola, Florida, and Amherst, Massachusetts, making for a total of nearly 300 Lyft cities across the U.S.
Submitted on February 23rd 2017 by wildcard
12 +11y+ ago
Wix.com has made another acquisition to build out the tools that it provides to users to build and administer websites: it has acquired DeviantArt, an online community for artists, designers and art/design enthusiasts with some 325 million individual pieces of original art and more than 40 million registered members, for $36 million in cash, including $3 million of assumed liabilities.
Submitted on February 23rd 2017 by canuck
13 +11y+ ago
14 +11y+ ago
If you've ever had to pay $3 (or more) to get your own money out of an ATM machine, you aren't alone. Nobody likes those fees. Except banks. America's three biggest banks -- JPMorgan Chase (JPM), Bank of America (BAC) and Wells Fargo (WFC) -- earned more than $6.4 billion last year from ATM and overdraft fees, according to an analysis by CNNMoney that was verified by S&P Global Market Intelligence. That works out to over $25 in fees annually for every adult American.
Submitted on February 25th 2017 by TNY
15 +11y+ ago
16 +11y+ ago
The Federal Communications Commission is preparing to eliminate a requirement that Charter Communications compete against other ISPs with new broadband deployments spurred by its purchase of Time Warner Cable. The FCC's approval of the merger last year required Charter to deploy broadband with download speeds of 60Mbps to at least 2 million residential and small business locations, of which at least 1 million must be in areas served by at least one other high-speed provider.
Submitted on February 25th 2017 by Nelson
17 +11y+ ago
Israel's official Holocaust memorial has asked Amazon to stop selling literature on its site that denies the genocide of 6 million Jews during World War II and otherwise promotes anti-Semitism. Yad Vashem's director of libraries Robert Rozett says he has dispatched a letter to Amazon CEO Jeff Bezos offering his assistance to "curb the spread of hatred." Rozett says Sunday that Yad Vashem has approached Amazon before on the subject but the internet retailing giant insisted it would not halt sales of offensive...
Submitted on February 26th 2017 by ticktack
18 +11y+ ago
The company that owns Burger King added to its fast-food empire with a deal to acquire chicken chain Popeyes for $1.8 billion. Restaurant Brands International, which owns Burger King and coffee-shop chain Tim Hortons, said Tuesday that it had agreed to purchase the rapidly growing company formally known as Popeyes Louisiana Kitchen for $79 per share. Popeyes has more than 2,600 locations, about double what it had in 2008. Some 97% are franchises.
Submitted on February 22nd 2017 by geoleo
19 +11y+ ago
Budget carrier Norwegian Air International (NAI) has vowed to revolutionise transatlantic travel with one-way flights from €69. The "groundbreaking" fares, which are inclusive of all taxes and charges, will be available on new NAI flights planned from Dublin, Cork and Shannon to non-hub airports in New York and Boston, starting from July 1.
Submitted on February 24th 2017 by messi
20 +11y+ ago
It seems that Intel is getting nervous about the AMD Ryzen launch and has started to lower prices on their processors. The equivalent 6900K model however still is 999 USD, twice as much as the Ryzen flagship. Others like the quad-core processors do see a price cut. Also we think with a tiny bit of tweaking that 6900K might even get beaten or normalized by even a 329 USD Ryzen 7 1700 processor. The new prices have not gone into effect everywhere, here in the EU they are still at the same old level. In the USA etailers like Newegg also is listing older prices.
Submitted on February 27th 2017 by hxxp
Here are this week's top five Business & Economy tribes:
/t/business 90 posts, 67 comments, 402 votes.
/t/uber 6 posts, 1 comments, 6 votes.
/t/copyright 8 posts, 6 comments, 35 votes.
/t/finance 6 posts, 0 comments, 23 votes.
/t/marketing 6 posts, 5 comments, 18 votes.
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