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Retail giant Amazon has agreed to buy self-driving startup Zoox in a deal reported to be worth more than $1bn and expands its presence in this cutting edge technology. that gives it options to use autonomous technology in either ride-hailing or its delivery network. The world’s largest online retailer paid $1.2bn for the smaller California-based…
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Charles Day, managing director and wealth advisor at UBS, has warned rich investors they should avoid exotic and hot stocks, citing the big risks associated with investing in little-known firms. “The stocks that I hadn’t heard of three months ago all of a sudden are the most active — that’s not where investors go, that’s…
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The Nasdaq Composite index closed above 10,000 points for the first time on Wednesday, even as the Federal Reserve warned that the US recovery from the coronavirus recession “is going to take some time”. The tech-laden index ended the day at a record 10,020.35, led by share trading in heavyweights such as Apple, Amazon, Microsoft…
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Zoom Video Communication shares have gained more than 205% this year, but traders see more upside in the stock. “We think Zoom is becoming synonymous with video conferencing, ” Todd Gordon, managing director of Ascent Wealth Partners, told CNBC on Tuesday. The San Jose-based tech firm posted first-quarter earnings on Tuesday, revealing how ubiquitous the…
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Tesla (NYSE: TSLA) confirmed that chief executive officer Elon Musk has earned a performance-based payment worth more than $700m, it confirmed Thursday. The payout was triggered by the company reaching several financial metrics which included hitting $20bn in total revenue for four previous quarters. Musk, already a billionaire, has foregone a base salary with the…
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Amazon (NASDAQ: AMZN) is in “advanced” talks to buy Californian driverless car startup Zoox in a deal that would boost its automation efforts, according to reports. The purchase price will value Zoox at below the $3.2bn valuation it hit following a funding round in 2018, according to the Wall Street Journal report. “We believe $1.1bn would…
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Billionaire hedge fund manager Ray Dalio says China will create a new world order as it eclipses the US to become “the most powerful empire” on the globe. Dalio’s comments come amid falling global markets after China withdrew its growth domestic product [GDP] growth target, heightened tensions between the US and China, and Beijing planning…
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Spotify (NYSE: SPOT) stock popped to a new all-time high on Tuesday after the music streaming company announced that it has signed an exclusive multi-year agreement with comedian and TV host Joe Rogan (pictured) for his podcast series, The Joe Rogan Experience. The show will begin from 1 September and will be exclusive on the…
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America’s top infectious disease expert will warn the Senate that the country will suffer “needless suffering and death” if it opens up too quickly, but this comes as US firms quicken the pace of business activity. Dr Anthony Fauci (pictured), who has arguably become the nation’s most respected voice during the coronavirus crisis, will testify…
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US billionaires boosted their wealth by more than $406bn in little over a month as stock markets rebounded from the initial coronavirus shockwave. Super-rich Americans saw their wealth rise by nearly 14% between 18 March and 39 April as markets recovered, according to think-tank the Institute for Policy Studies. Many billionaires hold a great deal…
