Uber's Tumultuous Year Continues As Finance Chief Departs
AP Photo/Seth Wenig An Uber car drives through LaGuardia Airport in New York. A day after Uber fired the former head of its autonomous vehicle R&D effort the rideshare company said finance chief Gautum Gupta was leaving the company to be COO at a Bay Area startup. The company said the timing of Gupta’s departure was unrelated to Uber’s $708 million loss in the year’s first quarter. The San Francisco-based firm told the Wall Street Journal on Wednesday that first-quarter revenue rose 18..>> view originalOhio Sues 5 Major Drug Companies For 'Fueling Opioid Epidemic'
Purdue Pharma, which makes OxyContin, defended its efforts to combat opioid abuse after it was named in the Ohio suit. Toby Talbot/AP hide caption toggle caption Toby Talbot/AP Purdue Pharma, which makes OxyContin, defended its efforts to combat opioid abuse after it was named in the Ohio suit. Toby ..>> view originalNetflix CEO Reed Hastings: Amazon is 'awfully scary' but net neutrality no longer important
Netflix CEO Reed Hastings thinks of Amazon as an “awfully scary” rival and said he no longer views the net neutrality debate as a “primary battle” for his popular streaming company. Hastings spoke on a variety of topics — from streaming video rivals to the recent kerfuffle over Netflix movies screening at the Cannes Film Festival — in a pair of interviews on Wednesday afternoon. The Netflix CEO first appeared on CNBC’s Squawk Box for an interview before joining tech journalist Peter Kafka onsta..>> view originalSupreme Court Delivers Huge Patent Win To Small Business
Lexmark International has tried to stop Impression Products from remanufacturing its printer cartridges. (Photo by Sandy Huffaker/Bloomberg News) A small business in West Virginia won a big victory in the Supreme Court on Tuesday. The court overwhelmingly sided with Impression Products in its patent dispute with printer giant Lexmark International, a case that tested whether a person or company (like, say, Impression Products) can purchase an article that's already been sold once without..>> view originalUnited Faces $435000 Fine, Accused of Flying Plane 23 Times Without Inspecting Repair, FAA...
The regulating agency proposed a civil penalty of $435,000 against United Airlines “for allegedly operating an aircraft that was not in an airworthy condition.” “Maintaining the highest levels of safety depends on operators closely following all applicable rules and regulations,” Michael P. Huerta, the F.A.A. administrator, said. “Failing to do so can create unsafe conditions.”Peter Goetz, a former managing director of the National Transportation Safety Board, said that he does not have the det..>> view original12 Key Takeaways (and the Most Worrisome Slide) From Mary Meeker's 2017 Internet Trends Report
THE MEEKER REPORT JUST DROPPED pic.twitter.com/BaU05spXc0 — Noah Mallin (@NoahMallin) May 31, 2017 Recode rightfully calls Kleiner Perkins Caufield & Byers partner Mary Meeker's annual Internet Trends Report "the most anticipated slide deck of the year." At Recode's CodeConference at the Terranea Resort in California this morning, PowerPoint groupies watched the influential analyst speed through the 355 -- yes, 355 -- slides in her preso. Click through the whole thing here and/or skim our ma..>> view originalNomura admits part in Goldman Venezuelan bond deal
Image copyright Getty Images Image caption Protestors outside Goldman Sachs headquarters in New York on Tuesday A Japanese investment bank has admitted it was part of a controversial deal with Goldman Sachs to buy Venezuelan government bonds.Nomura Securities said it also bought about $100m worth of the bonds last week, according to Reuters reports.Goldman Sachs has faced fierce criticism for its purchase of $2.8bn worth of similar bonds.Opposition le..>> view originalNew cyber law in China stirs alarm
China is beginning to implement a controversial cybersecurity law over the vocal objections of international business groups who contend it could hamper their operations in the country.Billed as an effort to combat hacking and boost national security, the law is viewed by outside experts as a move by Beijing to both shield Chinese data from other governments and reduce dependence on technologies from the West.“They do have legitimate cybersecurity concerns that were heightened with the [Edward] ..>> view originalPaul Allen just rolled out the world's largest airplane, and he is ready to take on the rocket makers.
Space launch company Stratolaunch Systems rolls its twin-fuselage plane out of its hangar for the first time to conduct fueling tests. (Reuters) The initial construction of the massive airplane Paul Allen has been quietly building in the California desert is complete, and the vehicle, which would be the world’s largest airplane with a wingspan wider than Howard Hughes’s Spruce Goose, was wheeled out of its hangar for the first time on Wednesday. Called Stratolaunch, the plane has some imp..>> view originalPPG Drops Its Pursuit of Akzo Nobel
But the Dutch company had “consistently refused to engage and did not respond to our call or letter,” he said. “As a result, we believe it is in the best interests of PPG and its shareholders to withdraw our proposal to Akzo Nobel at this time.” PPG first approached Akzo Nobel in March and made three takeover offers, the most recent valuing the company at 24.6 billion euros, or about $28 billion.The American company called its third offer in April its “one last invitation” to Akzo Nobel’s manag..>> view original
Friday, June 30, 2017
Uber's Tumultuous Year Continues As Finance Chief Departs and other top stories.
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