Blog
A driver for Uber is an employee, not a contractor, according to a California ruling that eventually could push up costs for the smartphone-based ride hailing service and hurt the closely watched start-up’s valuation. The California Labor Commission’s decision could ripple through the burgeoning industry of providing services via smartphones, with potential implications for other “crowdsourced” services such as Uber rival Lyft, chore service TaskRabbit, and cleaning service Homejoy. The
TOKYO (Reuters) – Japan’s SoftBank Corp said on Thursday that it was setting up a joint venture with Alibaba and Foxconn Technology to sell its human-like robot Pepper to consumers around the world. The robots – which the mobile phone and Internet conglomerate envisions serving as baby-sitters, medical workers or even party companions – are already being used at stores including SoftBank’s own mobile phone shops, but the companies said
U.S. stocks moved higher in early trading Thursday, extending gains a day after the Federal Reserve left interest rates unchanged from historically low levels. Health care stocks were among the biggest …
Shares of Fitbit opened 52 percent above their IPO price, putting it on track to rank among the top 10 stock market debuts of the year.
Had Bush been governor a couple years longer, his economic record would be awful.
The number of people seeking unemployment benefits fell last week, evidence that layoffs remain at unusually low levels and the job market is moving closer to full health. Weekly applications for jobless …
In a sweeping environmental manifesto aimed at spurring concrete action, Pope Francis called Thursday for a bold cultural revolution to correct what he described as a “structurally perverse” …
Bank repossessions rose again last month, driving overall U.S. foreclosure activity to a 19-month high on an annual basis, industry firm RealtyTrac said on Thursday. A total of 126,868 homes across the country were at some point in the foreclosure process in May, up 1 percent from April and up 16 percent from the same time last year, RealtyTrac said. Foreclosure activity includes foreclosure notices, scheduled auctions and bank repossessions.
The Labor Department said on Thursday its Consumer Price Index rose 0.4 percent last month after gaining 0.1 percent in April. Economists polled by Reuters had forecast the CPI rising 0.5 percent from April and unchanged from a year ago. While energy prices are stabilizing, a strong dollar is curbing underlying inflation pressures.
Nick Colas, director of research at BNY ConvergEx, sees the growing number of $1 million-plus summer rentals as in indication that Wall Street’s richest are getting an increase in income.
