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☆ Microsoft says cloud AI demand is exceeding supply even after 79% surge in capital spending
▼ + stars: | 2024-04-25 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

In its earnings report on Thursday, Microsoft said capital expenditures jumped 79% from a year earlier to $14 billion. "We do have demand that exceeds our supply by a bit," Microsoft CFO Amy Hood told analysts on the company's earnings call. During the fiscal third quarter, revenue in Microsoft's Azure cloud rose 31%, with 7 percentage points from AI. Microsoft intends "to scale to meet the growing demand signal for our cloud and AI products," she said. WATCH: Microsoft's capex increase for AI infrastructure is not a surprise, says Deepwater's Gene Munster

Persons: Amy Hood, Hood, Deepwater's Gene Munster Organizations: Microsoft, OpenAI, Nvidia, Amazon Web Services Locations: Bellevue , Washington

☆ Microsoft invests $1.5 billion in AI firm G42 which faces U.S. scrutiny for China ties
▼ + stars: | 2024-04-16 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

G42 will run its AI applications and services on the Microsoft Azure cloud service, as well as deploy Microsoft's cloud offerings. The U.S. and UAE governments appeared to be heavily involved in the deal. "Both companies will move forward with a commitment to comply with U.S. and international trade, security, responsible AI, and business integrity laws and regulations," Microsoft said. Gallagher alleges that G42 maintains relationship with blacklisted Chinese firms, such as Huawei, and that it works with China's military and intelligence services. G42 itself has reportedly invested in Chinese firms, including TikTok owner ByteDance.

Persons: Brad Smith, Sheikh Tahnoon bin Zayed Al Nahya, Mike Gallagher, Gallagher, ByteDance Organizations: Microsoft, United Arab, U.S, UAE, U.S ., Chinese Communist Party, Commerce Department, Huawei Locations: Bellevue , Washington, United Arab Emirates, U.S, UAE, China

☆ Opinion | The Economic Luminary Who Loved Solar Eclipses
▼ + stars: | 2024-04-08 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

In 1857, William Stanley Jevons was 22 years old and was working as an assayer for the Sidney Mint. Two eclipses passed over Australia that year, and Jevons enthusiastically tracked both. I think it’s interesting nonetheless, because Jevons went on to become one of the most important economists of his century. Your first glass of orange juice tastes great, the second less so, and the third you pour down the drain. So don’t buy that third glass of orange juice.

Persons: William Stanley Jevons, Jevons, “, ”, Léon, Carl Menger Organizations: Sidney Mint Locations: Australia, Bellevue Hill, Switzerland, Austria

☆ Amazon resumes construction on office tower in Seattle suburb after yearslong hiatus
▼ + stars: | 2024-04-04 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon is resuming construction on a 42-story office tower in the Seattle suburb of Bellevue, the company said Thursday, after 22 floors of the building sat unfinished since 2022. In December, Amazon opened the first half of the 42-story office tower in Bellevue, dubbed "Sonic," and moved about 1,000 employees into the building. Amazon has continued to secure office space outside of Seattle, where it's headquartered. The tower, its largest, will have about 1 million square feet of office space. The second phase, referred to as PenPlace, includes three 22-story office buildings, retail space and a 350-foot-tall tower called "The Helix."

Persons: Andy Jassy, Amazon, HQ2 Organizations: Amazon, Sonic, Dynamo Locations: Seattle, Bellevue, Virginia, Nashville

☆ After Woman Loses Feet in Subway Shoving, Her Boyfriend Is Charged
▼ + stars: | 2024-03-10 | by ( Chelsia Rose Marcius | More About Chelsia Rose Marcius | ) www.nytimes.com time to read: +1 min

A woman was struck by a subway train in Manhattan and had both feet amputated after her boyfriend shoved her onto the tracks during a dispute, the police said. The man, Christian Valdez, 35, was charged with attempted murder and felony assault for pushing the 29-year-old woman at the Fulton Street station, where she was struck by a southbound No. Officers responding to a 911 call just before 10:30 a.m. found the woman on the tracks, conscious and responsive. The woman, whom the police have not named, was taken to Bellevue Hospital, where her feet were amputated, according to the police and a law enforcement official. Mr. Valdez had previously served time in prison for slashing a woman and her child.

Persons: Christian Valdez, Valdez, Kathy Hochul Organizations: Fulton, Bellevue Hospital, Gov, Democrat, National Guard, Metropolitan Transportation Authority Locations: Manhattan, Bellevue, New

☆ Housing-market activity stalls in January amid uncertain rate outlook
▼ + stars: | 2024-02-16 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . After showing stronger signs of life in recent months, activity in the US housing market shifted back to low gear in January. The culprit behind the slowdown has been more subdued expectations for rate cuts by the Federal Reserve, which has, in turn, kept mortgage rates high. The 30-year fixed mortgage rate rose to 6.87% last week, an uptick after a period of steady declines.

Persons: —, Hal Bennett, Bennett Organizations: Service, Federal Reserve, Investors Locations: Bellevue , WA

☆ A rusted Cold War missile built to carry a nuclear bomb discovered in a Washington garage, says report
▼ + stars: | 2024-02-04 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

An inert Cold War-era nuclear rocket was found in a Washington garage. The rusted Douglas AIR-2 Genie was designed to carry a 1.5 kt W25 nuclear warhead. AdvertisementA rusted Cold War missile was discovered in a deceased man's garage in Washington state, The Seattle Times reported. It was used by the US and Canada during the Cold War and was the US Air Force's most powerful interceptor missile ever used. The Cold War era lasted between 1947 and 1991.

Persons: —, Douglas, Seth Tyler, Elton John's, 🚀h ttps:, rade, egan Organizations: Service, Seattle Times, National Museum of, US Air Force, Bellevue Police, Douglas AIR, BBC Locations: Washington, Dayton , Ohio

BELLEVUE, Wash. (AP) — An inert rocket of the type used to carry a nuclear warhead has been found in the garage of a home of a deceased resident in Washington state, police said. Bellevue police responded Thursday to a report of a military-grade rocket in the garage of a home in the city across Lake Washington from Seattle. Bomb squad members inspected the rusting object and found it was a Douglas AIR-2 Genie (previous designation MB-1), an unguided air-to-air rocket that is designed to carry a 1.5 kt W25 nuclear warhead. According to the Air Force Armament Museum Foundation, the unguided air-to-air rocket was used by the U.S. and Canada during a period of the Cold War when interception of Soviet strategic bombers was a major military concern. In July 1957, a Genie was launched at 18,000 feet (about 5,500 meters) from an F89J interceptor and detonated over Yucca Flats, Nevada, the first and only test detonation of a U.S. nuclear-tipped air-to-air rocket.

Persons: Douglas Organizations: Seattle . Police, Air Force, Douglas AIR, Air Force Armament Museum Foundation, U.S, Soviet, Twitter Locations: BELLEVUE, Wash, Washington, Bellevue, Lake Washington, Seattle, Dayton , Ohio, Canada, Flats , Nevada, U.S

☆ The 15 most expensive U.S. neighborhoods per square foot—No. 1 is 2,000% higher than average
▼ + stars: | 2024-01-29 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

The cost per square foot in South of Market — also known as SoMa — is $5,415. Just over 120 miles away is Northwest Auburn, California, the second-highest priced U.S. neighborhood at $4,416 per square foot. The Old Town neighborhood of the beachside California town of Carpinteria comes in third in the rankings, with a cost per square foot of $4,129. In contrast, the Homewood North neighborhood in Pittsburgh ranks last amongst the 20,000 neighborhoods examined for the study, with homes costing $29 per square foot. The rankings are based on average price per square foot data for U.S. homes using Homes.com listing data.

Persons: — Organizations: Northwest Auburn, Downtown, Port Royal, Stinson, Casa, Fisher, Hudson, downtown, Rush, Homes Locations: San Francisco, U.S, Market, Auburn , California, Carpinteria, California, Downtown Bellevue, Bellevue , Washington, Naples, Florida, Shores, Stinson Beach , California, Hibiscus Islands, Miami Beach , Florida, Newport Beach , California, Lago, Palm Beach , Florida, , New York City, Hill , New York City, Miami, downtown San Francisco, Northwest Auburn , California, Sierra Nevada, Auburn, Sacramento, Old, Homewood, Pittsburgh, Montana , South Dakota , Wyoming, North Dakota, Virginia

☆ The Washington house where Jeff Bezos founded Amazon is on sale for $2.3 million — take a look inside
▼ + stars: | 2024-01-28 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

The Bellevue, Washington house where Jeff Bezos founded Amazon is on the market for $2.3 million. Take a look inside, including the garage where it all began. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. It was in the garage of that home he was renting at the time that Bezos started Amazon, then an online bookseller, in 1994. Take a look inside the home where it all began:

Persons: Jeff Bezos, —, Bezos Organizations: Service, Amazon Locations: Bellevue , Washington

(AP) — A Democratic state lawmaker in Nebraska who unsuccessfully ran for governor two years ago is seeking a seat in the U.S. House. She hopes to challenge Republican Rep. Mike Flood, who served in the state legislature with Blood until he was elected to Congress. Blood was running for governor at the time, a race she lost to Republican Jim Pillen. “I’m running because we can do better and bring back a strong voice in D.C. that represents all Nebraskans, not the vocal minority,” she said. So far no other Democrats have filed for the primary or announced plans to run.

Persons: Sen, Carol Blood, Mike Flood, Flood, Jeff Fortenberry, Patty Pansing Brooks, Blood, Republican Jim Pillen, Clair Callan, “, ” Organizations: —, Democratic, U.S . House, Congressional, Republican, Blood, GOP, Bellevue City Council, Social Security Locations: OMAHA, Neb, Nebraska, U.S, Lincoln, McCook, Bellevue

☆ Democrat denounces political intimidation and violence after home vandalized with call for ceasefire in Israel, Gaza
▼ + stars: | 2023-12-01 | by ( Kaanita Iyer | Sara Smart | ) edition.cnn.com time to read: +2 min

CNN —Democratic Rep. Adam Smith on Friday condemned intimidation and violence pushed by political “extremes” after he said his Washington state home was vandalized by activists pushing for a ceasefire in the ongoing Israel-Hamas war. The administration has supported “humanitarian pauses” and pushed to extend the recent truce in the fighting. Smith told Phillip that to his “knowledge” as of Friday evening, authorities do not have any leads on who was responsible. The congressman pointed to the incident as part of a “very problematic” trend of threats against elected officials. “We need to have respect for civil society and representative democracy and know how to disagree with each other without going to this level of intimidation,” Smith said.

Persons: Adam Smith, ” Smith, CNN’s Abby Phillip, Biden, Joe Biden, Smith, Seth Tyler, Phillip, ”, “ Organizations: CNN — Democratic, Capitol police, Bellevue Police Department, CNN, Capitol, Pro Locations: Washington, Israel, Bellevue , Washington

☆ 50 cities showing where rents are surging or dropping compared to home values — and how to determine whether it's worth buying or renting, according to experts
▼ + stars: | 2023-11-30 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

But home prices are still on the rise, according to a November 28 note from Selma Hepp, the chief economist at CoreLogic. The outcome is that many remain renters, which drives up demand for rental property and the cost of rent. If the cost of rent is 20% below the price of owning a home monthly, then it may be comparable. Rent prices are based on listings from Rent.com. For example, take the cost of rent over five years; let's say it's $3,000 x 12 months = $36,000 annually.

Persons: Selma Hepp, they'll, Suzanne Miller, Miller, Price, Shmuel Shayowitz, Shayowitz Organizations: Business, Home, Empire State, Seattle -, Dallas, Fort, Redfin, Kansas, Jacksonville, Birmingham, NA Milwaukee, Phoenix, Boston, Orlando, Virginia, KY, UT, Oklahoma Locations: Redfin . Metro, Seattle, Dallas, Seattle - Tacoma, Bellevue, Everett, Tacoma, Fort Worth, Metro, Columbus, Providence, RI, Kansas City, Angeles, Buffalo, NY, Indianapolis, York, Hartford, Jose, Antonio, Minneapolis, Detroit, MI, Virginia Beach, Louis, Washington, San Diego, Atlanta, Richmond, Cincinnati, San Francisco, Philadelphia, Tampa, WA, Denver, Riverside, CA, Cleveland, Baltimore, Pittsburgh, Charlotte, NC, Orleans, LA, Nashville, TN, Memphis, Raleigh, Louisville, Jefferson County, Houston, Salt Lake City, Miami, Chicago, Sacramento, Vegas, Portland, Austin, New York City

☆ Richemont digital strategy goes back to square one
▼ + stars: | 2023-11-29 | by ( Lisa Jucca | ) www.reuters.com time to read: +3 min

The logo of the luxury goods company Richemont is pictured at its headquarters in Bellevue near Geneva, Switzerland, June 2, 2022. REUTERS/Denis Balibouse Acquire Licensing RightsMILAN, Nov 29 (Reuters Breakingviews) - Johann Rupert’s digital strategy may be heading back to the drawing board. But even if Rupert can extricate himself from the Farfetch situation, Richemont’s digital plans will still be unclear. In August 2022 Richemont agreed to sell a 47.5% stake in its digital platform, Yoox Net-A-Porter, to Farfetch. Shares in Richemont were up 1.5% by 1100 GMT on Nov. 29.

Persons: Denis Balibouse, Johann Rupert’s, Porter, Cartier, Rupert, Farfetch, José Neves, Richemont, Financiere Richemont, Peter Thal Larsen, Oliver Taslic Organizations: REUTERS, Reuters, The Telegraph, Financiere, Telegraph, Thomson Locations: Bellevue, Geneva, Switzerland, Swiss, U.S, YNAP, New York, Richemont

☆ Richemont monitoring situation at online luxury retailer Farfetch
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

The logo of the luxury goods company Richemont is pictured at its headquarters in Bellevue near Geneva, Switzerland, June 2, 2022. REUTERS/Denis Balibouse Acquire Licensing RightsZURICH, Nov 29 (Reuters) - Cartier-jewellery owner Richemont (CFR.S) on Wednesday said it was "carefully monitoring" the situation after Farfetch's FTCH.N founder said he was considering taking the online luxury retailer private. Richemont, which also owns several Swiss watch brands, said it has no financial obligation to Farfetch and does not envisage lending or investing into the company. "Richemont is carefully monitoring the situation, including reviewing its options in respect of its arrangements with Farfetch, announced on 24 August 2022, which remain subject to certain terms and outstanding conditions," the company said. Richemont's brands, which also include watchmakers IWC and Jaeger-LeCoultre, have been working on transferring their online businesses to Farfetch's technology.

Persons: Denis Balibouse, Farfetch's FTCH.N, Farfetch, Richemont, Porter, John Revill, Miranda Murray Organizations: REUTERS, Rights, Cartier, watchmakers IWC, Jaeger, Thomson Locations: Bellevue, Geneva, Switzerland, U.S, YNAP, Farfetch

An aerial view of the San Francisco city skyline in California, U.S., October 28, 2021. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsSAN FRANCISCO, Nov 28 (Reuters) - Videogame software provider Unity Software (U.N) will eliminate 265 jobs or 3.8% of its global workforce and end an agreement with a digital video effects company founded by the "Lord of the Rings" director as part of a "reset," the company said on Tuesday. Tuesday's announcement includes termination of the professional services piece of an agreement Unity struck with movie director Peter Jackson's visual effects company Weta FX in 2021 after Unity purchased the technology and engineering division of Weta FX. As a result, 265 employees whose jobs are related to the agreement will be laid off, the company said. Reporting by Anna Tong in San Francisco Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Barria, John Riccitiello, Jim Whitehurst, Roelof Botha, Peter Jackson's, Whitehurst, Anna Tong, Matthew Lewis Organizations: REUTERS, FRANCISCO, Unity Software, San, Unity, Sequoia Capital, FX, Weta, Reuters, Thomson Locations: San Francisco, California, U.S, Berlin, Singapore, Bellevue , Washington

A gunman shot a 17-year-old boy and a man in his 40s inside a moving subway car as it approached a station in Brooklyn’s Bedford-Stuyvesant neighborhood during the evening rush hour on Tuesday, the police said. The shooting occurred just after 5:30 p.m. on a northbound C train as it pulled into the Ralph Avenue station, the police said. The 17-year-old sustained an injury to his right hand and was taken to Bellevue Hospital in Manhattan, the police said. The man was shot in the left ankle and was taken to Kings County Hospital in Brooklyn, the police said. It was unclear whether the gunman, who fled the scene, and the victims knew one another.

Organizations: Bellevue Hospital, Kings County Hospital Locations: Brooklyn’s Bedford, Stuyvesant, Bellevue, Manhattan, Kings, Brooklyn

☆ Tesla fans are lining up outside showrooms to catch a peek of the new Cybertruck
▼ + stars: | 2023-11-27 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

People lined up outside some Tesla showrooms over the weekend to see the Cybertruck. Dozens of Tesla fans lined up outside some of the company's showrooms over the holiday weekend trying to catch a glimpse of the new Cybertruck. "My wife and I just got to the @Tesla Showroom in Tampa and there is a line wrapping around! AdvertisementUpdate: My wife and I just got to the @Tesla Showroom in Tampa and there is a line wrapping around! Advertisement" $TSLA halo effect," Future Fund founder Gary Black wrote on X in response to a video of the lines at a Tesla showroom.

Persons: —, Tesla, Electrek, @NickGibbsIAG, Ps0hefMzuH, Matthew Donegan, Ryan, Donegan, " Donegan, bk31FmiYHJ — Matthew Donegan, @MatthewDR, Christian Artman, Artman, Toby Li, there’s, Javier Verdura, It's, Elon Musk, Gary Black Organizations: Service, Apple, Twitter, Electrek Locations: Tampa, Washington, Miami, Langley , British Columbia

☆ 10 cities where millennials are moving
▼ + stars: | 2023-11-27 | by ( Noah Sheidlower | Jordan Pandy | ) www.businessinsider.com time to read: +5 min

One in four millennials moved to a different city in 2022, many for work or cost of living concerns. Nearly 17,300 millennials relocated to Cambridge in 2022, bringing the total percentage of millennials to 38% of the total population. Seattle and Sunnyvale, California, also saw comparable moves, as millennials who moved in 2022 made up about 12.5% of the total population for both cities. When looking at the top cities by percentage of total millennials compared to the total population, Jersey City, New Jersey, ranked first at 41.5%, followed by Seattle, Denver, and Austin. However, Port St. Lucie in Florida had the lowest rate of millennials moving in compared to the total population at 4.8%, followed by Brockton, Massachusetts.

Persons: —, Jaclyn DeJohn, millennials, Millennials, DeJohn, SmartAsset, Gen Xers Organizations: Cambridge, Service, Survey, Business, Harvard University, Massachusetts Institute of Technology, Intel, Nvidia, Lone Star State, Waco, Fort Hood, Fontana Locations: Santa Clara , CA, Seattle, Cambridge , Massachusetts, Santa Clara , California, Boston, Cambridge, Santa Clara, Silicon Valley, Santa Clara's, Georgia, Sandy Springs, Sunnyvale , California, Denver, Bellevue , Washington, Arlington , Virginia, millennials . Arlington, Hialeah , Florida, Arlington, Killeen , Texas, Austin, Jersey City , New Jersey, Port St, Lucie, Florida, Brockton , Massachusetts, Cities, California, Santa Ana, Moreno, Surprise , Arizona, Bend , Oregon, Scottsdale , Arizona, Orlando . Florida

☆ CNBC Daily Open: Record highs for Microsoft and Nvidia
▼ + stars: | 2023-11-21 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Stephen Brashear | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineAll the turmoil at OpenAI over the weekend turned out pretty well — for Sam Altman and Microsoft , at least. The appointment sent Microsoft shares to a new high. Meanwhile, at another corner of the technology industry, anticipation over Nvidia's earnings report later today pushed the chipmaker's shares up to a record high.

Persons: Satya Nadella, Stephen Brashear, Sam Altman, Altman's, Dan Ives, Ives, Altman, Brockman, we've, — CNBC's Sophie Kiderlin Organizations: Getty, CNBC, Microsoft, Wedbush Securities, Nadella, Nvidia, Dow Jones, Nasdaq Locations: Bellevue , Washington

☆ A bunch of terrible stuff happened to Jennifer Weisselberg after she ratted on her husband and the Trump Organization to prosecutors
▼ + stars: | 2023-11-14 | by ( Grace Eliza Goodwin | Erin Snodgrass | ) www.businessinsider.com time to read: +6 min

Jennifer Weisselberg is the former daughter-in-law of Allen Weisselberg, who served as the chief financial officer for the Trump Organization and was convicted of tax fraud earlier this year. Eviction proceedings against Jennifer Weisselberg began in October 2020 with Allen Weisselberg listed as her guarantor. But over the next few months — as Jennifer Weisselberg began speaking publicly with the media about the Trump Organization — the lawsuit against Jennifer and Allen Weisselberg shifted, according to The Nation. In March 2023, Jennifer Weisselberg signed a settlement agreement to pay back half the rent she owed and move out. AdvertisementAdvertisementJennifer Weisselberg told The Nation she believed speaking out against the Trump Organization would help her get her kids back.

Persons: Jennifer Weisselberg, Allen Weisselberg, —, it's, Jennifer, Barry Weisselberg, Donald Trump, Allen Weisselberg's, Barry Weisselberg didn't, Jennifer Weisselberg's, Allen, Barry Organizations: Trump Org, Service, Trump Organization, The, Trump Organization —, York County Civil, Court, Bellevue Hospital Locations: York County, Florida, Manhattan

☆ 15 cities where U.S. homebuyers make the largest down payments—the top 5 are in California
▼ + stars: | 2023-11-12 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

Homebuyers put down an average of 13.8% of the home price in 2023, according to a Realtor.com analysis of the 150 largest real estate markets for the quarter ending in September. Here's a look at the 15 most expensive real estate markets, based on the median cost for a typical down payment on a home. In Killeen, Texas, median down payment is only $2,182. This includes Fayetteville, North Carolina; Shreveport, Louisiana; and El Paso, Texas, where median down payments are $5,000 or less. U.S. Department of Agriculture loans also require no down payment, which might lead to low down payments in relatively rural areas.

Persons: Homebuyers, That's, Freddie Mac, Warren Buffett Organizations: PMI, Santa, Thousand Oaks, Seattle, Boston, Cambridge, Fort, Stamford -, U.S . Department of Veterans Affairs, U.S . Department Locations: California, U.S, San Jose, Sunnyvale, Santa Clara , California, Francisco, Oakland, Berkeley , California, Santa Maria, Santa Barbara , California, Angeles, Long, Anaheim , California, Santa Rosa, Petaluma , California, Oxnard, Ventura , California, Tacoma, Bellevue , Washington, Diego, Chula Vista, Carlsbad , California, Newton , Massachusetts, New Hampshire, Fort Collins , Colorado, Sacramento, Roseville, Folsom , California, Naples, Marco Island, Florida, York, Newark, Jersey City , New York, New Jersey, Pennsylvania, Portland, Vancouver, Hillsboro , Oregon, Washington, Bridgeport, Stamford, Stamford - Norwalk , Connecticut, U.S . California, Killeen , Texas, Killeen, Fayetteville, North Carolina, Shreveport , Louisiana, El Paso , Texas

☆ Richemont brands 'satisfied' with Farfetch technology
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

The logo of the luxury goods company Richemont is pictured at its headquarters in Bellevue near Geneva, Switzerland, June 2, 2022. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsPARIS, Nov 10 (Reuters) - Richemont (CFR.S) labels are moving ahead with the transfer of their online businesses to Farfetch (FTCH.N) technology, which they are satisfied with, executives at the Swiss-based group said Friday. The adoption of Farfetch technology to run the online business of Richemont labels is part of a wider agreement for Richemont to sell a 47.5% stake in YNAP in exchange for more than 50 million Farfetch shares, announced in August 2022. "Everything we expected in terms of technology from our Farfetch friends, they've delivered," Richemont chairman Johann Rupert told analysts on an earnings call. Farfetch shares have fallen by more than 60% in the past six months.

Persons: Denis Balibouse, Richemont, they've, Johann Rupert, Bernstein, Mimosa Spencer, Kirsten Donovan Organizations: REUTERS, Rights, Thomson Locations: Bellevue, Geneva, Switzerland, Swiss, Richemont's, U.S, YNAP, Farfetch

☆ How T-Mobile is taking a leading role in the 5G revolution
▼ + stars: | 2023-11-09 | by ( Sponsor Post | Created Insider Studios With T-Mobile | ) www.businessinsider.com time to read: +6 min

T-Mobile's nationwide standalone 5G network helps power these efforts. The common thread of these varied scenarios might surprise you: 5G, the "fifth generation" of wireless network technology. T-Mobile is the only provider of a standalone nationwide 5G network, putting it in a prime position to shake up that paradigm in the US. Uses for all industriesT-Mobile's 5G technology can be applied across all industries, for an ever-expanding number of use cases. Find out more about how T-Mobile's 5G technology is powering change across industries.

Persons: —, Parvin Mahajan, Mahajan, Heather Nelson, Rod Laver, Will Townsend, Organizations: Mobile, Children, Boston Children's Hospital, Drivers, Infosys, Rod Laver Arena, Insider Studios Locations: Bellevue , Washington

☆ Amazon founder Jeff Bezos is leaving Seattle for Miami
▼ + stars: | 2023-11-03 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +1 min

Jeff Bezos, who founded Amazon out of his Seattle garage in 1994, is leaving the city and moving to Miami to be near his parents and his space company Blue Origin. It was there that Bezos in 1995 launched Amazon as an online bookseller, before transforming the company into a retail and cloud computing giant. "I've lived in Seattle longer than I've lived anywhere else and have so many amazing memories here," Bezos wrote. Amazon's rapid growth reshaped Seattle, particularly its South Lake Union area, where the company's headquarters sits. Bezos recently spent $150 million for two adjoining properties in Miami's Indian Creek Village, often referred to as the "billionaire bunker."

Persons: Jeff Bezos, Bezos, I've, Andy Jassy, Temu Organizations: Seattle, Origin, Amazon, Earth Fund, Washington Post Locations: Miami, Seattle, Bellevue , Washington, South Lake Union

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