Waymo’s Self-Driving Future Looks Real Now That the Hype Is Fading
(Bloomberg Businessweek) -- Last October, Waymo announced that anybody who hailed one of its rides in the suburbs southeast of Phoenix would be picked up by a truly driverless vehicle—no human sitting behind the wheel. It was a
Lagarde Signals New Recession Even as ECB Holds Stimulus Steady
(Bloomberg) -- European Central Bank President Christine Lagarde signaled that the euro-zoneeconomy is headed for a double-dip recession, while insisting that the current level of monetary stimulus is enough for now. The ECB chief said output probably shrank at
U.S. Housing Starts Rose to Fastest Pace Since 2006 in December
(Bloomberg) -- U.S. home construction starts rose for a fourth-straight month in December to the best pace since late 2006 as builders responded to the robust demand for single-family housing. Residential starts climbed by 5.8% to
Top fund manager of 2020 warns more than half the S&P 500 is at risk from technological upheaval
As 2020 comes to a close, it’s hard to find a more successful fund manager than Cathie Wood, the chief executive and chief investment officer of ARK Invest. ARK’s flagship fund, the ARK Innovation ETF ARKK, -2.32%, has
Jamie Dimon says JPMorgan Chase should absolutely be ‘scared s—less’ about fintech threat
JPMorgan Chase CEO Jamie Dimon has watched while a new breed of fintech players, led by PayPal, Square and tech giants around the world have exponentially grown users and market value. His message to the management team of his $3.4 trillion
Here Are the Major Pieces of Biden’s $1.9 Trillion Stimulus Plan
(Bloomberg) -- President-elect Joe Biden’s $1.9 trillion Covid-19 relief plan is designed to both pump money into the economy and contain the coronavirus pandemic. The plan includes a wave of new spending, including more direct payments
Amazon’s ad business will gain the most share this year, according to analyst survey
Amazon will be the leading share gainer among the major digital ads businesses in 2021 and 2022, according to a new ad buyer survey from Cowen released Tuesday. Amazon’s ad business will continue to grow as
Americans spent a record online over 2020 holidays, and more e-commerce gains are expected
U.S. online purchases over the 2020 holidays grew 32.2% from 2019, totaling a record $188.2 billion as shoppers stayed home and shopped on the web during the pandemic, according to Adobe Analytics. E-commerce sales during November,
Tom Lee has a theory on why stocks are far from a bubble and due for another big decade
(A full version of this story is available for CNBC Pro subscribers only) Fundstrat Global Advisors co-founder Tom Lee is pushing back against claims that the stock market is in a dangerous bubble, telling clients that equities
U.S. construction spending races to record high in November
U.S. construction spending rose to a record high in November, boosted by a robust housing market amid historically low mortgage rates, which could help blunt some of the hit on the economy from raging COVID-19