In this article PTON Peloton is temporarily halting production of its connected fitness products as consumer demand wanes and the company looks to control costs, according to internal documents obtained by CNBC. Peloton plans to pause Bike production for two months, from February to March, the documents show. It already halted production of its more
Technology
Reed Hastings, co-CEO of Netflix, participates in the Milken Institute Global Conference on October 18, 2021 in Beverly Hills, California. Patrick T. Fallon | AFP | Getty Images The latest Netflix shareholder letter included a line heard around the world: “While this added competition may be affecting our marginal growth some…” That clause doesn’t sound
In this article TWTR YELP SONO AAPL GOOGL AMZN Chairwoman Sen. Amy Klobuchar, D-Minn., speaks during the Senate Rules and Administration Committee hearing on “Oversight of the U.S. Capitol Police Following the January 6th Attack on the Capitol, Part III”, in Washington, January 5, 2022. Tom Williams | Pool | Reuters One of lawmakers’ best
Even as China spends billions to build up its domestic semiconductor sector, it is still some time away from achieving the capabilities needed to produce cutting edge chips, an analyst said on Wednesday. Semiconductors are used in everything, from smartphones and computers to cars as well as home appliances. “I still believe that [China is]
In this article TMUS T VZ Workers install equipment on a 5G cell tower in Salt Lake City, Utah, U.S., on Tuesday, Jan. 11, 2022. George Frey | Bloomberg | Getty Images Verizon and AT&T turned on a major new part of their 5G networks Wednesday, the culmination of a yearslong process that saw both
In this article ATVI MSFT Satya Nadella, CEO of Microsoft. Charles Pertwee | Bloomberg | Getty Images Microsoft tried to set a record in 2008, when then-CEO Steve Ballmer pursued plans to buy Yahoo for about $50 billion. It would have been the biggest U.S. tech deal ever, topping JDS Uniphase’s $41 billion purchase of
In this article MSFT ATVI Microsoft announced Tuesday it will buy video game giant Activision Blizzard in a $68.7 billion all-cash deal. Shares of Activision soared about 37% in pre-market trading before being halted after the Wall Street Journal first reported the deal. Microsoft shares fell more than 2% following the announcement Activision, which is
As part of its 14th Five Year Plan, China plans to increase support for research and development into 6G or sixth generation internet. 6G is said to come after current 5G technology though no global standards or definition have been agreed upon yet. Rafael Henrique | SOPA Images | LightRocket | Getty Images China is
In this article F A Ford F-150 pickup truck is offered for sale at a dealership on September 6, 2018 in Chicago, Illinois. Scott Olson | Getty Images Online payment processor Stripe has signed up Ford Motor Company as a customer, in a five-year deal aimed at bolstering the automotive giant’s e-commerce strategy. Ford Motor
Manatí, Puerto Rico In March 2021, crypto entrepreneur and investor David Johnston moved his parents, wife, three daughters, and company with him to Puerto Rico. The 36-year-old, who has been involved in the crypto ecosystem since 2012, says the decision to relocate from Austin was kind of a no-brainer. Beyond the fact that Puerto Rico
Natasha Lamb, a founding partner and portfolio manager at Arjuna Capital. Michael Prince Natasha Lamb was shocked. It was November, and Microsoft shareholders had just agreed with her proposal to push the software maker into issuing a public report on the effectiveness of its sexual harassment policies. Microsoft opposed the measure and urged investors to
In this article TSLA LAC-CA PLL The United States has a lithium supply problem. Nearly every major automaker has announced a transition to electric vehicles, Tesla delivered almost one million cars in 2021, and a handful of new electric vehicle companies like Rivian and Lucid are rolling new models off the line. In order to
In this article CZR TWTR DIS NYT Shams Charania, NBA basketball reporter Source: Sinclair Broadcast Group’s Stadium Shams Charania’s primary job is straightforward: break news on the National Basketball Association. It’s not a new occupation, but historically it’s never been a particularly lucrative one. Social media and legalized mobile sports betting have changed the game.
Google CEO Sundar Pichai Getty Images Google is implementing a new Covid-19 testing policy for its U.S. work sites as it prepares for a continued surge in infections from the Omicron variant in the coming weeks. In an email sent to full-time employees on Thursday and obtained by CNBC, Google’s health chief Karen DeSalvo said
In this article F Incoming Ford CEO Jim Farley (left) and Ford Executive Chairman Bill Ford Jr. pose with a 2021 F-150 during an event Sept. 17, 2020 at the company’s Michigan plant that produces the pickup. Michael Wayland | CNBC DETROIT – Ford Motor Chair Bill Ford has been slowly amassing more shares, and
The Signal Messenger app is displayed on a smartphone in Hong Kong, China. Roy Liu | Bloomberg | Getty Images Federal investigators say they accessed encrypted Signal messages sent in the lead-up to the Jan. 6, 2021, riot on the U.S. Capitol, and used them as evidence to charge the leader of the Oath Keepers,
Ali Ghodsi, co-founder and chief executive officer of Databricks Inc., speaks during a Bloomberg Technology television interview in San Francisco on Oct. 22, 2019. David Paul Morris | Bloomberg | Getty Images With cloud stocks in the midst of a two-month slide, the CEO of one of the most valuable private software companies isn’t concerned.
Steven Mnuchin, U.S. Treasury secretary, from left, U.S. President Donald Trump, and Jared Kushner, senior White House adviser, listen during a bi-lateral meeting with Saad Hariri, Lebanon’s prime minister, not pictured, at the White House in Washington, D.C. Zach Gibson | Bloomberg | Getty Images New documents show that one of former President Donald Trump’s
The value of bitcoin exceeded the threshold of $66,895 in October for the first time in history. Chesnot | Getty Images Bitcoin’s price could nearly double to $75,000 this year as more institutional investors start to embrace the world’s most popular cryptocurrency, according to the CEO of Swiss bank Seba. “We believe the price is
Theranos founder Elizabeth Holmes, center, and her family leave the Robert F. Peckham Federal Building and U.S. Courthouse after the jury found her guilty on four counts in San Jose, Calif., on Monday, Jan. 3, 2022. Dai Sugano | MediaNews Group | Getty Images Former Theranos CEO Elizabeth Holmes, who was convicted of federal fraud