This Stat Will Make Facebook & Amazon’s Antitrust Hearing Insanely Awkward

The combined market value of Facebook, Amazon, Apple, and Google stock is equivalent to nearly one-quarter of U.S. GDP. The CEOs of the four firms will testify before Congress later this month. Legislators are looking into antitrust issues raised against the tech giants. Nothing exposes the sheer economic dominance of U.S. tech stocks like Facebook …

United Airlines Will Take Biggest Hit From EU’s Travel Ban on Americans

EU travel limits on Americans will hit United Airlines harder than other major airlines. Nearly a fifth of United Airlines’ revenues come from Atlantic flights. Europe contributes nearly 30% of the carrier’s net income. The EU has excluded the U.S. from the list of “safe countries” whose citizens are allowed to travel to the bloc. …

Elon Musk Has Every Reason to Be Absolutely Terrified of Jeff Bezos’ Latest Purchase

The space rivalry between Jeff Bezos and Elon Musk has extended to cars. Amazon’s interests in alternative-energy cars and self-driving vehicle startups are growing by the day. The online retail giant is reportedly eyeing a robotaxi business. Elon Musk’s saltiness over Jeff Bezos’ growing encroachment on his turf is no longer concealable. Hours after it …

Warren Buffett’s Tech Stock Phobia Is Making His Billionaire Ranking Crater

Warren Buffett’s billionaire ranking is under threat from tech billionaires. Ex-Microsoft CEO Steve Ballmer is the latest to eclipse Buffett in net worth. Berkshire Hathaway is underperforming the broader stock market, a repeat of last year. Not that long ago, Warren Buffett regularly ranked among the world’s top three billionaires. But that’s changed, and the …

Jeff Bezos Deserves Our Praise

Amazon just announced its new NHL Seattle arena will be named Climate Pledge Arena. The arena will be the first “net-zero carbon arena” in the world. Jeff Bezos is spearheading multiple projects that could have a massive environmental impact. Stop hating him because he’s rich. Jeff Bezos is far from perfect. But he’s far from …

Catastrophic Wirecard Failure Send Stock Plunging 60% in 30 Minutes

The Wirecard stock dropped 60% after Ernst and Young (EY) said it found lacking evidence for $2.1 billion in cash. The company faced controversies throughout the past year. FT investigative reports found discrepancies in data across various company subsidiaries. The Wirecard stock plunged 60% after Ernst and Young (EY) said the company’s $2.1 billion cash …

Trump Just Handed Warren Buffett a Bag With AmEx Entry to China

China is opening its financial sector to American Express. It’s the first foreign credit card company to do business in China. Warren Buffett stands to profit handsomely, and he’ll have the Trump Administration’s trade deal with China to thank for it. American Express (NYSE:AXP) will be the first foreign credit card company to do business …