Microsoft officials say hackers linked to the Russian intelligence service, SVR, appear to have launched another supply chain attack — this time on a company that allowed the intruders to slip into the computer networks of a roster of human rights groups and think tanks. Microsoft said it discovered the breach this week and believes […]
Don’t tell Costco executives that inflation is low. The big-box club chain said it’s been seeing accelerating prices across a range of products, including shipping containers, aluminum foil and a 20% spike in meat prices over the past month. “Inflationary factors abound,” CFO Richard Galanti said on the company’s fiscal third-quarter earnings call Thursday. “These […]
The Federal Aviation Administration said Friday that Boeing had temporarily halted deliveries of 787 Dreamliners as the agency waits for more data to determine if the planemaker’s planned inspection method meets federal requirements. “Boeing still needs to show that its proposed inspection method would meet FAA’s federal safety regulations. The FAA is waiting for additional […]
Tesla has started using cabin cameras in some Model 3 and Model Y vehicles to make sure drivers are paying attention to the road when they use driver assistance features, according to release notes obtained by CNBC. Their Model 3 and Model Y cars already had driver-facing cabin cameras, but the company’s owners manuals said […]
Jeff Bezos on Wednesday stewarded his last shareholder meeting as CEO of Amazon, highlighting the company’s successes in the previous year, while acknowledging it has many challenges ahead. Bezos announced he’ll formally step down from his role as CEO on July 5, which is the date Amazon was incorporated 27 years ago. He’ll move into […]
Costco Chief Financial Officer Richard Galanti warned on the company’s third quarter earnings call that the retailer is seeing “inflationary pressures” including higher labor costs, shipping container shortages, and increased prices on select products shipped from overseas. According to Galanti, shipping costs have increased on fresh meats and imported cheeses, plastic products including cups and […]
Shares of AMC Entertainment soared again on Thursday as speculative trading activity skyrocketed in the movie theater chain’s stock among Reddit-obsessed day traders. The stock surged as much as 47% Thursday and ended the session 35.6% higher at $26.52, pushing its week-to-date advance to nearly 120%. AMC has overtaken GameStop to become the most-loved stock […]
On May 14, the IRS announced that tax refunds on 2020 unemployment benefits would begin to be deposited into taxpayer bank accounts within the week. But 13 days later, the deposits still have not materialized for many, angering those who are counting on the funds. An estimated 10 million people will receive the unemployment insurance […]
Snowflake, the cloud data analytics vendor that held the biggest U.S. software IPO ever last year, has become the latest tech company to jettison California. In its earnings press release on Wednesday, Snowflake’s dateline showed up as “No-Headquarters/BOZEMAN, Mont.” As recently as May 3, when the company announced the date of its first-quarter earnings report, […]
Electric vehicle manufacturing currently faces an “embedded carbon” challenge, says Jefferies’ Simon Powell. “To gain the environmental dividend that governments are looking for, users are going to have to keep them longer, drive them further than they may have done with a conventional internal combustion energy vehicle,” Powell, head of global thematic research at the […]
Shareholders of Exxon Mobil (XOM) handed America’s largest oil company its first defeat, electing two of four candidates activist investors nominated to its board. For climate activists who have long championed changes at the world’s largest fossil fuels companies, the vote marked a dramatic leap forward in its push to hold firms accountable for their […]
Privacy laws in the U.S. need to be updated, especially after Google struck a deal with a major hospital chain, medical ethics expert Arthur Kaplan said Wednesday. “Now we’ve got electronic medical records, huge volumes of data, and this is like asking a navigation system from a World War I airplane to navigate us up […]
