The latest round of quarterly results from Netflix shows that while the grand-daddy of streaming “still rules” that universe, a combination of upstart and old-guard rivals “have cut into Netflix’s share of viewers’...more
Uber will officially classify its British drivers, all 70,000 of them, as “workers” following a “major legal defeat” for the ride-hailing company in the British Supreme Court last month. The move entitles the drivers to “a...more
Markets gave a warm welcome to the Biden administration on Wednesday, as strong tech performance and hopes of “large-scale economic stimulus” helped power an across-the-board rally that brought all three major U.S. indices...more
Thursday’s unemployment figures showed technically falling claims (down to 723,000 new claims for state benefits) but “remained above records set in previous recessions,” as the number of “laid-off and furloughed workers...more
No dispute about this—election day was good for Uber, Lyft, and other businesses in California dependent on the gig economy, thanks to passage of Prop. 22, the ballot measure that exempts such companies from “having to treat...more
Here’s about as 2019 as we can get in the financial world (with a healthy dose of 1950s-era gender discrimination for good measure): a series of tweets from tech entrepreneur David Heinemeier Hansson alleging gender...more
There’s some surprise market wheeling and dealing afoot this morning. The Hong Kong stock exchange has offered to buy its London counterpart as part of a deal valued at $37 billion that would connect “the established...more
The CBO sent shivers down the spines of deficit hawks yesterday with its latest forecast that shows federal cost overruns hitting $1 trillion for fiscal 2020, an increase of more than $100 billion from projections just 3...more
Amazon is prepping to execute a more permanent purge on its orders to smaller, mom & pop suppliers as part of a push to “cut costs and focus on wholesale purchasing on major brands like Procter & Gamble, Sony and Lego” in an...more
Shared workspace giant We Work is joining the growing wave of major start-ups planning to go public this year. And like many of its unicorn peers (as we’ve documented), the company “shows no sign of turning a profit anytime...more
After weeks of regular negotiations (and months of back-and-forth before that), the rough outlines of a broad US/China trade deal are starting to take shape. Early reports look like the end of US tariffs in exchange for...more
In January 2017, Alibaba co-founder Jack Ma was proudly promising to create 1 million jobs in America—a heady promise but one not unthinkable given Alibaba’s massive scale. Fast forward 20 months and a growing Sino-American...more
Markets are joining the American mid-Atlantic and East Coast in bracing for Hurricane Florence and the estimated $27 billion in damages it could bring with it....more
Jobs report Friday! Here’s what to have in mind while you’re reviewing the numbers – Bloomberg and NYTimes and WSJ and MarketWatch Apple officially hit the stupefying $1 trillion market cap mark yesterday, as its shares rose...more
With Davos 2018 in the rear view mirror, some analysts are pegging the “geopolitical momentum” as China’s to claim, thanks in no small part to its expansive and ongoing “Belt and Road” initiative....more
The Second Circuit recently revived a putative securities class action against Alibaba Group Holding Ltd. and four of its top executives for alleged material misrepresentations in connection with the company’s $25 billion...more
Blue Apron co-founder Matt Salzberg is following the Steve Ells path of stepping aside as CEO after recent struggles. In Blue Apron’s case, the company’s never really recovered from the rough patch that started not long after...more
AT&T’s chief is weighing in the DOJ’s call to sell CNN in order to make its deal with Time Warner go through, and, as Randall sees it, “selling CNN makes no sense”....more
The Journal reported yesterday that more than 6,000 Wells Fargo branches were routinely tipped off to inspections by internal risk monitors, a practice that allowed the bank’s sham-account scandal to go undetected for years....more
According to Renaissance Capital, there were 273 IPOs that raised $85 billion of gross proceeds. The number of offerings in 2014 increased by nearly 23% and the proceeds raised increased by 55% over 2013. Alibaba’s $25...more
In September 2014, Alibaba completed the largest IPO in history, raising US$25 billion in its New York Stock Exchange (NYSE) offering. In the buildup to the high-profile offering, the Stock Exchange of Hong Kong Limited...more
For months Alibaba Group Holding Limited (“Alibaba”) had tried to convince the Stock Exchange of Hong Kong Limited (“SEHK”) that they should open their doors to the internet giant. Alibaba had proposed a system through which...more