SpaceX wants to be your next Wi-Fi provider. It’s hoping to build a constellation of satellites to deliver cheap, lightning-quick broadband from space — and the toughest obstacle could be on the ground. The company took its first major steps this year by launching the first 100-plus satellites for its network, called Starlink, with an…
Policies designed to combat climate change could permanently slash the value of companies around the world by up to $2.3 trillion. That’s according to a new report from Principles for Responsible Investment that examines how “inevitable” policies such as banning internal combustion engines will affect stock prices. The analysis concludes that up to $2.3 trillion,…
Bill Hemmer will succeed Shepard Smith as the anchor of Fox News Channel’s 3 p.m. news program, the network said on Monday. The show will be renamed “Bill Hemmer Reports” and it will debut on January 20. Hemmer, a veteran journalist and broadcaster, joined Fox from CNN in 2005 and has been one of the…
Apple CEO Tim Cook shocked investors on January 2 by warning of slowing iPhone sales in China. Apple’s stock plunged 10% the next day, dragging down the entire market along with it. But it’s been all good news for the company ever since. Shares of Apple hit their lowest point of the year — $142…
Virgin Galactic’s stock is soaring after an analyst said its space planes could one day disrupt the air travel industry, potentially raking in nearly a trillion dollars a year in sales. The spaceflight’s company stock surged 12% Monday after Morgan Stanley released a report predicting Virgin Galactic’s shares could rise as high as $60 over…
The legal cannabis industry in Canada and several states in America has been going through some growing pains. That’s a key reason why industry leader Canopy Growth just named the chief financial officer of its biggest investor to be its new CEO. Canopy said Monday that David Klein, formerly the CFO of beer and wine…
When turmoil erupted in the US overnight lending market in September, it came as a big surprise. The spike in overnight borrowing rates forced the Federal Reserve to come to the rescue, pumping in lots of cash and restarting bond purchases. This eased any panic, and appears to have helped juice the stock market as…
Paul Volcker, the former chairman of the Federal Reserve known for his battles against inflation in the late 1970s and early 1980s, has died. He was 92. He passed away at his home in New York Sunday from complications related to his prostate cancer, said his daughter, Janice Zima. Volcker served as Fed chairman from…
South African tech investor Naspers has sweetened its hostile bid for Just Eat, valuing the UK online food delivery company at $6.7 billion and escalating a takeover battle with rival suitor Takeaway.com. But the revised offer may fail to win over shareholders. Prosus, the European-listed tech investor owned by Naspers, said Monday that it would…
Lord & Taylor is reopening in New York less than a year after shuttering its flagship department store. But the new store will only be open for a limited time. Le Tote, which recently bought the struggling brand, is opening a pop-up store in the city’s prime shopping neighborhood, SoHo. The store will sell items…