Uber Technologies Inc., the world’s largest ride-hailing company, plans an initial public offering that values the company lower than the startup’s insiders had hoped, between $80.5 billion and $91.5 billion. The valuation, outlined in a regulatory filing Friday, is less than the $120 billion that investment bankers told Uber last year it could fetch, and closer to the $76 billion valuation…
read moreWisconsin Gov. Tony Evers and Foxconn Technology Group officials are talking about making changes to the contract signed in 2017 that was based on constructing a larger display screen manufacturing facility than is now proposed. But neither side is giving details. So how might the deal be changed? And what’s at stake for each…
read moreDemocratic presidential candidate Cory Booker says it’s time to overhaul environmental policies that he says unfairly disadvantage minority and impoverished communities. The New Jersey senator is promoting what he calls his environmental justice agenda during a campaign stop in South Carolina. He told students at Allen University in Columbia that the government hasn’t done enough…
read morePresident Donald Trump vowed to fight for gun rights as he addressed the National Rifle Association on Friday and implored members of the group — struggling to maintain its influence — to rally behind his re-election bid. Speaking to the group for his third straight year, Trump declared himself a “champion for the Second Amendment.”…
read moreDeputy Attorney General Rod Rosenstein is taking swipes at his critics as he prepares to leave the Justice Department. In a speech, Rosenstein made barbed remarks in the direction of former FBI Director James Comey, political pundits and the media Deputy Attorney General Rod Rosenstein is taking swipes at his critics as he prepares his…
read moreAs Notre Dame Cathedral burned, a posting on Facebook circulated – a grainy video of what appeared to be a man in traditional Muslim garb up in the cathedral. Fact-checkers worldwide jumped into action and pointed out the video and postings were fake and the posts never went viral. But this week, the Sri Lanka…
read moreSocial media companies such as Twitter, YouTube and Facebook are not legally responsible for the content that users upload to their sites. That legal protection has been key to their explosive growth, but there is a growing consensus that companies must do more to root out misleading content. Michelle Quinn reports, the companies may be…
read moreAmazon.com Inc plans to deliver packages to members of its loyalty club Prime in just one day, instead of two days, part of a spending ramp-up that might curb future profits after a blockbuster first quarter. Shares rose as much as 2% in after-hours trade on Thursday on the faster shipping announcement for customers around…
read moreA federal judge in Washington state on Thursday blocked new Trump administration rules that could cut off federal funding for health care providers who refer patients for abortions. The Washington attorney general’s office said Judge Stanley Bastian in Yakima granted the injunction following about three hours of argument in a case brought by the…
read moreDemocratic lawmakers on Thursday sought documents on Trump administration firings of top officials at the Department of Homeland Security, saying they were concerned the dismissals were prompted by the officials’ refusal to break the law. Three U.S. House of Representatives committee chairmen sent a letter to DHS asking for documents related to actions by Republican President Donald Trump and top…
read moreFacebook Inc on Thursday barred a New Mexico-based paramilitary group that has stopped undocumented migrants near the U.S.-Mexico border from using its fundraising tools and said it would remove any of its posts that violated company policies. Facebook made the statement after a civil rights organization asked it to block videos posted by the United…
read morePresident Donald Trump is flatly refusing to cooperate in numerous U.S. congressional probes of himself and his administration, taking a defiant stance that could trigger protracted court fights with House of Representatives Democrats. In an unprecedented step, the Trump administration has filed a lawsuit to try to block one congressional subpoena; some Trump advisers have…
read moreFacebook Inc broke Canadian privacy laws when it collected the information of some 600,000 citizens, a top watchdog said on Thursday, pledging to seek a court order to force the social media giant to change its practices. Privacy Commissioner Daniel Therrien made his comments while releasing the results of an investigation, opened a year ago,…
read moreThe U.S. Trade Representative said on Thursday it has added Pinduoduo.com, China’s third-largest e-commerce platform, to its “notorious markets” list for a proliferation of counterfeit products, as the agency also called out China as a priority to watch for intellectual property rights concerns. In its annual review of trading partners’ protection of intellectual properties rights…
read moreFacebook’s lead regulator in the European Union, Ireland’s Data Protection Commissioner, on Thursday said it had launched an inquiry into whether the company violated EU data rules by saving user passwords in plain text format on internal servers. The probe is the latest to be launched out of Dublin into the social network giant. The…
read moreBrent oil rose above $75 per barrel on Thursday for the first time this year as quality concerns forced the suspension of some Russian crude exports to Europe while the United States prepared to tighten sanctions on Iran. Brent crude futures were at $75.24 by 1156 GMT, up 67 cents. They earlier hit a session…
read moreSouth Korea’s economy unexpectedly shrank in the first quarter, marking its worst performance since the global financial crisis, as government spending failed to keep up the previous quarter’s strong pace and as companies slashed investment. The shock contraction reinforced financial market views that the central bank is likely to make a U-turn on policy, shifting…
read moreDeutsche Bank has begun to provide documents on financing for some of President Donald Trump’s projects to New York State authorities, a source familiar with the matter told AFP on Wednesday. In mid-March, New York Attorney General Letitia James subpoenaed the German bank, demanding records related to loans and lines of credit granted to the…
read moreFacebook on Wednesday blew away Wall Street profit estimates in the first quarter as it kept a lid on the costs of making its social networks safer, and set aside $3 billion to cover a settlement with U.S. regulators, calming investors who had worried about the outcome of a months-long federal probe. Shares of the…
read moreMicrosoft said profits climbed in the past quarter on its cloud and business services as the U.S. technology giant saw its market value close in on the trillion-dollar mark. Profits in the quarter to March 31 rose 19 percent to $8.8 billion on revenues of $30.8 billion, an increase of 14 percent from the same…
read moreU.S. President Donald Trump, in his latest bucking of constitutional norms, is threatening to proactively take his case to the Supreme Court if the House of Representatives considers impeaching him. “If the partisan Dems ever try to impeach, I would first head to the Supreme Court,” Trump announced Wednesday on Twitter. “Not only are there…
read moreThe Democratic chairman of the House oversight committee accused the Trump administration of a “massive, unprecedented and growing pattern of obstruction” for ordering federal employees not to comply with congressional investigations. President Donald Trump and Attorney General William Barr “are now openly ordering federal employees to ignore congressional subpoenas and simply not show up — without any assertion of a valid legal…
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