02 Feb Business & Finance Industry Review
- Virgin Galactic shares pop as company plans to redo spaceflight testas early as Feb. 13.
- Elon Musk says his start-up Neuralink has wired up a monkey to play video games using its mind.
- Cramer suggests traders take profits after engineering ‘beautiful’ short squeeze in GameStop.
- Facebook to counter Apple privacy update with its own prompt with how it uses data.
- Ford and Google pair up to ‘reinvent’ car design, connectivity and ownership.
Top News Stories
Robinhood & Elon Musk
Robinhood took the action on Thursday to restrict trading in several speculative names, including GameStop and AMC Entertainment. Robinhood co-founder Vlad Tenev explained the move and defended his platform in a discussion with Elon Musk on the audio chat app Clubhouse. “We had no choice in this case,” Tenev said. “We had to conform to our regulatory capital requirements.”
Amazon, Alphabet and Salesforce
Databricks, a start-up whose software helps companies quickly process large sets of data and get it ready for analysis, said Monday it has raised $1 billion in fresh cash, including from a few prominent corporate investors. Amazon Web Services, Alphabet’s CapitalG venture arm and Salesforce Ventures all joined in with the company now valued at $28 billion.
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What’s Been Stacking Up
The silver market is the latest flashpoint in the Reddit mania that took over Wall Street last week. Silver futures surged as much as 13% to Monday, touching eight-year highs.
Nike made a hands-free shoe and you have to see it to believe it. Called the Go Flyease, it’s Nike’s first pair of lace-less sneakers that can easily be put on and taken off without using your hands.
Apple just had a blowout quarter, thanks to iPhone 12 sales. Strong iPhone sales pushed the company’s total quarterly revenue to a record $111.4 billion — well above the $103.3 billion Wall Street analysts had predicted.
The EU’s slow Covid-19 vaccine rollout has been a cause for growing concern. Despite being part of the world’s biggest single market, European Union countries have vaccinated only a tiny fraction of their populations compared with Israel, the US and Britain.
SpaceX announces its first-ever all-civilian space flight crew. Jared Isaacman, the trip to space aboard a SpaceX Crew Dragon capsule could be the first-ever orbital flight crewed entirely by non-astronauts.