Netflix CEO Reed Hastings split the company in two in 2011, thinking that the growing ubiquity of high-speed Internet access would soon mean the end of their disruptive DVD mailing business. But neglecting the DVD business proved to be a mistake, and Netflix reversed course. Ore Huiying | Getty Images Shares of Netflix were sliding as much
There is no deadline for the “phase two” China deal, U.S. Treasury Secretary Steven Mnuchin said while speaking at a CNBC panel during the World Economic in Davos, Switzerland on Wednesday. “As it relates to phase two, I would say there’s no deadlines,” Mnuchin told CNBC’s Geoff Cutmore. “So the first issue we’re very focused
“We have contact,” revealed the ranger to the seven wildlife enthusiasts standing at the foot of Mount Sabyinyo, an extinct volcano in the Rwandan Virunga Mountains. An excited murmur spread through the group as they stood waiting in the morning sun. “Let’s go,” said a porter, as he climbed over the stone fence. The tourists
Paul Tudor Jones Leanne Miller | CNBC Billionaire investor Paul Tudor Jones said the stock market today is reminiscent of the one in early 1999. “We are just again in this craziest monetary and fiscal mix in history. It’s so explosive. It defies imagination,” Jones CNBC’s Squawk Box at the World Economic Forum in Davos, Switzerland. “It
Public health officials have confirmed the first U.S. case of a mysterious coronavirus that has already killed at least 6 people and sickened hundreds of others in China, according to two reports. A White House spokesman declined to comment, referring calls to the Centers for Disease Control and Prevention. The CDC did not immediately respond
IBM President and CEO Virginia Rometty delivers a speech to participants during the 4th edition of the Viva Technology show at Parc des Expositions Porte de Versailles in Paris on May 16, 2019. Chesnot | Getty Images IBM will release its fourth-quarter earnings statement after market close on Tuesday. Here’s what the street expects: Earnings:
CEO Of Netflix, Reed Hastings, attends the red carpet during the Netflix presentation party at the Invernadero del Palacio de Cristal de la Arganzuela on April 4, 2019 in Madrid, Spain. Juan Naharro Gimenez | Getty Images Netflix downplayed concerns about competition in its Q4 2019 earnings report, but subscriber numbers don’t lie. Netflix noted
Global index and fund provider MSCI said Tuesday that investors need to more readily integrate ESG metrics, or a company’s environmental, social and governance factors, into investing philosophies. “We are sounding the alarm bells that if you are an investment institution and you’re not embracing this and taking it into account, it’s going to be
If you think bringing a new human into the world is daunting, wait until you see what he or she will do to your budget. It will cost a middle-income married couple an average of $233,610 to raise a child from birth through age 17, according to 2015 data from the U.S. Department of Agriculture.
Michael Avenatti Lucy Nicholson | Reuters A federal judge ordered prosecutors to explain by Tuesday afternoon why controversial lawyer Michael Avenatti is under tough jail restrictions typically imposed on accused terrorists and drug lords. Avenatti is awaiting trial on an extortion charge in a jail cell that reportedly once housed Joaquin “El Chapo” Guzman. Judge
Getty Images Halliburton beat analysts’ estimates for quarterly profit on Tuesday, as higher drilling activity in international markets helped the oilfield services provider blunt a hit from slowing North America that led to a charge of $2.2 billion. International markets have been a bright spot for oilfield service providers in recent times, as North American
Uber CEO Dara Khosrowshahi walks outside of the New York Stock Exchange its highly anticipated initial public offering on May 10, 2019. Spencer Platt | Getty Images Check out the companies making headlines in midday trading. Morgan Stanley — Shares of the nation’s fourth-largest bank sunk 3.5% following a downgrade from Citigroup to neutral from buy.
Robotics arms install the front seats to the Tesla Model 3 at the Tesla factory in Fremont, California, on Thursday, July 26, 2018. Mason Trinca | The Washington Post | Getty Images Tesla’s winning streak is unlikely to last much longer, Bernstein analysts found after looking through historical data for what happens after large stocks
Jose Luis Pelaez Inc | Getty Images Lawmakers passed a bill last week that would allow seniors to fight age discrimination in the workplace more easily — and that could help protect older Americans at a precarious time in their financial lives. The House of Representatives passed the Protecting Older Workers against Discrimination Act on
Medical staff members carry a patient into the Jinyintan hospital, where patients infected by a mysterious SARS-like virus are being treated, in Wuhan in China’s central Hubei province on January 18, 2020. STR The outbreak of a new coronavirus stemming from Wuhan, China has killed four people with confirmed cases totaling more than 200 ahead
A security guard show the way to a man outside of the Davos Congress Centre under snow ahead of the opening of the World Economic Forum (WEF) annual meeting, in Davos, eastern Switzerland. FABRICE COFFRINI | AFP | Getty Images It’s that time of the year again: Policymakers, politicians, bankers, activists, journalists and a swathe
Jamie Dimon, Chairman and CEO of JP Morgan Chase. Adam Jeffery | CNBC J.P. Morgan Chase announced the creation of a new business called the Development Finance Institution to boost private investment in emerging-market development projects. The lender said it can finance more than $100 billion annually from its investment bank and created a formal
Superman Man of Steel Source: Warner Brothers Superman is getting a new show on Warner Bros.’ CW network, but so far, the big screen has proven to be his kryptonite. The box office flop of “Justice League,” along with negative reviews for a majority of films that included America’s favorite hero in blue in the
Top Wall Street economist Michael Gapen believes the market’s record rally has stamina. The Barclays head of U.S. economics research cites a calm economic backdrop as a major driver. “We’re kind of sitting at a trend-like outlook where growth is around 2% this year,” he told CNBC’s “Trading Nation” on Friday. “It’s a very benign
Hanno Renner, co-founder and CEO of Personio. Personio Hanno Renner was 25 when he set up Personio, a software start-up looking to take the myriads of boring admin tasks and piles of paper out of human resources. Before he became a tech entrepreneur, Renner was a student at Germany’s Technical University of Munich, where he