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Quicken Loans Files for IPO After Three Years of Annual Profits

Rocket Companies, Inc. — parent company for Quicken Loans and Rocket Mortgage — has filed for an initial public offering (IPO) to allow the trading of its shares on the U.S. stock market after disclosing an annual profit for the past three years. This is according to original reporting at Bloomberg. “The Detroit-based company, which owns Rocket Mortgage and Quicken Loans, listed the size of the offering in its filing as $100 million, a placeholder amount that will likely change,” writes Bloom...
Tags: Featured, Finance, Ipo, Bloomberg, Nba, Cleveland Cavaliers, Cleveland, Detroit, Dan Gilbert, Nyse, Lenders, Quicken Loans, National Basketball Association NBA, New York Stock Exchange NYSE, Rocket Mortgage, One Reverse Mortgage


Google has abandoned plans for a cloud service in China after the COVID-19 pandemic aggravated political tensions with the US (GOOG)

Google has abandoned plans to offer cloud services in China and other politically sensitive countries, according to a new report. The project, known as "Isolated Region," would have allowed Google to strike up partnerships with local companies and government agencies in the country. It would also let countries control data inside their borders. The project was ultimately scrapped, due in part to growing geopolitical tensions, which have been aggravated by the pandemic. Visit Business Insider's...
Tags: Google, Amazon, China, US, Trends, Bloomberg, EMEA, Microsoft Google


JPMorgan puts plans for Ohio office return on hold indefinitely- Bloomberg News

JPMorgan Chase & Co is pulling back on returning employees to offices in Columbus, Ohio, after coronavirus cases in the state jumped, Bloomberg News reported https://www.bloomberg.com/news/articles/2020-07-08/jpmorgan-puts-plans-for-ohio-office-return-on-hold-indefinitely?sref=V7uxlNge on Wednesday, citing people briefed on the decision. The bank is making plans to start a first phase of returning workers in additional states including Delaware starting in mid-August, Bloomberg said. JPMorgan ...
Tags: Business, News, Bloomberg, Ohio, Delaware, Reuters, Jpmorgan, Bloomberg News, COLUMBUS Ohio, JPMorgan Chase Co


COVID-19 conspiracy sites are getting millions in ad revenue from Google and Amazon, according to a new report

Websites that spread false information and conspiracy theories about COVID-19 could make millions in ad revenue this year, according to a new study. The bulk of the ad revenue comes from Google's ad platform, along with other tech companies including Amazon and OpenX.  Global Disinformation Index, a UK-based research group, identified 480 English language websites that they say regularly publish COVID-19 misinformation and analyzed their ad revenue in the first half of 2020. Google has pledged...
Tags: Google, Amazon, UK, Trends, Bloomberg, British Medical Association, Oreal, COVID, Global Disinformation Index, Wayfair Bloomberg Canon


Here's why IBM is buying a Brazilian software automation startup, adding fuel to a hot market that even Microsoft is trying to buy its way into (IBM)

IBM said Wednesday it is acquiring WDG Automation, a Brazilian robotic process automation company. The news comes just two months after Microsoft announced a similar move in what has become one of the hottest sectors in tech. Robotic process automation, or RPA, is technology that allows businesses to automate common and repetitive computer tasks, which has become a critical need for enterprises, especially after the pivot to remote work. Acquiring WDG automation will help IBM clients automate ...
Tags: Microsoft, Softbank, Trends, Bloomberg, Ibm, PitchBook, RPA, Business Insider Microsoft, UiPath, Comcast Google, Softomotive, Ted Kummert, Bobby Patrick, SecureDrop Claim, Michael Gilfix, WDG Automation


Trump said he's considering banning TikTok to punish China over the coronavirus

President Trump said in an interview Tuesday that he was considering banning TikTok, echoing earlier comments from Secretary of State Mike Pompeo. Trump implied a ban on TikTok would be a way of punishing China for the coronavirus, which originated in the city of Wuhan. Trump's rationale was somewhat different from the reason given by Pompeo, who said the US was worried TikTok could be a national-security risk. Visit Business Insider's homepage for more stories. President Donald Trump said Tu...
Tags: China, India, Disney, US, Trends, Bloomberg, Fox News, Oklahoma, Donald Trump, Trump, State, Greta Van Susteren, Chinese Foreign Ministry, Gray Television, Pompeo, Mike Pompeo


Donald Trump said he's considering banning TikTok to punish China over the coronavirus

President Trump said in an interview on Tuesday he is considering banning TikTok, confirming earlier comments from Secretary of State Mike Pompeo. Trump implied a ban on TikTok would be a way of punishing China for the coronavirus, which originated in the city of Wuhan. Trump's rationale is slightly different from the reason given by Pompeo, which is that the US is worried TikTok could be a national security risk. Visit Business Insider's homepage for more stories. President Donald Trump said...
Tags: China, India, Disney, US, Trends, Bloomberg, Fox News, Oklahoma, Donald Trump, Trump, State, Greta Van Susteren, Chinese Foreign Ministry, Gray Television, Pompeo, Mike Pompeo


10 things in tech you need to know today

Good morning! This is the tech news you need to know this Wednesday. Civil rights groups called their meeting with Facebook execs a 'disappointment' and said the company isn't ready to address the platform's 'vitriolic hate.' Facebook executives Mark Zuckerberg, Sheryl Sandberg, and Chris Cox "showed up to the meeting expecting an A for attendance," according to the groups. Apple is 'assessing' the human rights impact of Hong Kong's new national security law, but has not paused data requests f...
Tags: Apple, Facebook, Hong Kong, UK, London, Microsoft, Congress, Trends, Bloomberg, Facetime, Sundar Pichai, Sheryl Sandberg, Alexa, Peggy Johnson, US Department of Justice, T Mobile


Tim Cook, Mark Zuckerberg, Jeff Bezos, and Sundar Pichai are set to appear before Congress on July 27 in an antitrust hearing

Apple CEO Tim Cook, Amazon CEO Jeff Bezos, Alphabet CEO Sundar Pichai, and Facebook CEO Mark Zuckerberg will appear before the US House of Representatives on July 27. The hearing is part of the House Judiciary Antitrust Subcommittee's investigation into the dominance of large tech firms. The tech executives will be allowed to appear virtually for the hearing. The four big tech companies are also facing probes from the US Justice Department. Visit Business Insider's homepage for more stories. ...
Tags: Apple, Google, Amazon, Facebook, Mark Zuckerberg, Congress, Washington, US, Trends, Bloomberg, House, House Of Representatives, Tim Cook, Jeff Bezos, Sundar Pichai, Federal Trade Commission


Palantir, a secretive tech company started by members of the 'PayPal mafia' with close ties to the Trump administration, could be one of the biggest tech IPOs ever. Take a closer look at how it makes money

Palantir has confidentially filed a draft of its S-1 paperwork for its planned IPO listing, the company announced Monday.  Activists have long protested the $20 billion big-data company for the ICE's use of its software to gather, store, and search for data on undocumented immigrants, and reportedly played a role in workplace raids. Palantir has also been notoriously secretive due to its work with government, policing, and military organizations like the Department of Defense, the Army, the Ma...
Tags: Amazon, Facebook, Europe, Osama Bin Laden, Stanford, Nsa, Ipo, India, US, Trends, Department Of Defense, Bloomberg, Paypal, Fbi, Credit Suisse, Peter Thiel


A new pair of Apple's cheaper AirPods that look like the AirPods Pro could be coming next year, says one of the most accurate Apple analysts (AAPL)

Apple may release a successor to its standard AirPods that have a design similar to the AirPods Pro, according to analyst Ming-Chi Kuo. The new AirPods, rumored to be called the AirPods 3, are said to use the same system-in-package technology as the AirPods Pro. It's one of few audio products Apple is rumored to be developing, along with premium over-ear headphones and a smaller HomePod.  Visit Business Insider's homepage for more stories. Apple may bring the AirPods Pro's more compact design...
Tags: Apple, Trends, Bloomberg, MacBook Air, Bose, Sennheiser, Aapl, Ming Chi Kuo, MacRumors, Kuo, Bloomberg Apple, Counterpoint Research, Ming Chi Kuo Kuo, Kuo Apple, AirPods, Apple Insider


Apple is 'assessing' human rights impact of Hong Kong's new national security law, but has not paused data requests from local police

On Monday, Facebook, Google, and Twitter suspended data requests from Hong Kong police. It follows China unilaterally passing a sweeping new national security law in the semi-autonomous city. Apple said it is "assessing" the impact of the law on human rights, but stopped short of promising to pause data-processing requests from local authorities. An Apple spokesperson told Bloomberg that it was up to the US Department of Justice to block requests that might infringe on human rights, under Mutu...
Tags: Apple, Facebook, Twitter, Hong Kong, China, US, Trends, Bloomberg, United States, Tim Cook, US Department of Justice, Google Facebook, Apple Apple, Facebook Google, US China, China Google


Here's how big tech companies like Facebook, Google, and TikTok are reacting to Hong Kong's harsh new national security law

Last week, China unilaterally passed an overarching new national security law in Hong Kong that experts say further erodes the semi-autonomous city's waning freedoms. The legislation criminalizes what it deems secession, subversion, terrorism, and collusion with a foreign country. Those charged with the most severe offenses — like undermining the Chinese government — face a maximum penalty of life in prison. On Monday, several major tech companies including Facebook, Twitter, Google, LinkedIn,...
Tags: Apple, Google, Facebook, Twitter, Hong Kong, Microsoft, China, US, Trends, Bloomberg, Beijing, United States, Chinese communist party, Business Insider, Zoom, Trump


Blogging and gaming are now legitimate jobs in China (thanks, coronavirus)

Your parents might condescendingly roll their eyes when you go on a tangent about your “career” as a blogger and gamer at dinner, but China won’t: the country has broadened its definition of what constitutes a “job” to include blogging and playing esports. Bloomberg reports that local graduates starting their own businesses focused on blogging or gaming will now be classified as employed, according to a document by the education ministry released on June 29. To qualify as employed, people must w...
Tags: Startups, China, Insights, Bloomberg, National Bureau of Statistics


Palantir has confidentially filed for a public listing

Palantir, the secretive $20 billion big data company, has quietly a filed a draft of its paperwork for a public listing, it announced in a press release Monday. Rumors resurfaced last month that the company, launched in 2003 by PayPal alumni including Peter Thiel, was preparing to file its S-1 with the SEC. Palantir has struggled to live up to its valuation in recent years, as shares of the company flooded the secondary markets at a major discount. Activists have long criticized Palantir for i...
Tags: US, Trends, Bloomberg, Paypal, Peter Thiel, SEC, Silicon Valley, Palantir, Centers For Disease Control And Prevention, Business Insider, Forbes, Joe Lonsdale, Thiel, US Securities and Exchange Commission, Customs Enforcement Palantir, Alex Karp Palantir


Di Yao has outperformed 93% of his competitors by picking unknown stocks or big names the market doesn't understand. He details 3 of his favorite bets. (MSFT, SE, AMAT, PGTYX)

Putnam's Global Technology Fund has outperformed nearly all of its peers over the last five years. Di Yao, the fund's co-manager, said he and his partner have focused on companies that the market either doesn't understand or with which it's not familiar.  They've found some of their best bets overseas and among smaller companies in the US; but they've also placed some winning bets on some of the tech giants. Yao told Business Insider about 3 stocks he particularly likes in his portfolio — Micr...
Tags: Apple, Amazon, Facebook, Microsoft, China, Southeast Asia, US, Trends, Bloomberg, Intel, Taiwan, Sea, Alibaba, Tencent, Salesforce, Amazon Web Services


The UK may back down from using Huawei for its 5G buildout. Huawei says the UK is letting policy be 'dictated' by the Trump administration.

Reports came out from the Telegraph and Bloomberg at the weekend that Britain's National Cybersecurity Centre gave the government a report saying recent US sanctions make Chinese tech firm Huawei a higher security risk for building out 5G networks. Culture Secretary Oliver Dowden confirmed Monday he's received the report, and he will be discussing with Prime Minister Boris Johnson whether to alter policy. The UK announced in January it would allow Huawei to play a limited role in building the ...
Tags: UK, White House, China, US, Trends, Bloomberg, Britain, Boris Johnson, Parliament, LBC, Johnson, Huawei, European Parliament, Trump, Zhang, Liu


10 things in tech you need to know today

Good morning! This is the tech news you need to know this Monday. Uber will acquire food delivery startup Postmates in $2.6 billion all-stock deal, reports say. Sources told Bloomberg and The New York Times that the all-stock deal could be announced as soon as Monday. A group of European digital advertising groups on Friday criticized Apple's plans to require apps to seek additional permission from users before tracking them across other apps and websites. Apple last week disclosed features in...
Tags: Apple, Amazon, Elon Musk, UK, India, Trends, Tesla, Bloomberg, New York Times, Maxwell, Huawei, Financial Times, Alexa, Roposo, David Einhorn, Amazon Studios


Amazon and Flipkart might have to give their source code to the Indian government

Online retailers such as Amazon and Walmart-owned Flipkart might have to hand over their site’s source code and core algorithms to the Indian government. According to a report by Bloomberg, a new draft ecommerce policy that seeks to bring competitiveness in the market, list this as a mandate. The draft bill also asks if companies are using “explainable AI” (XAI) — a type of AI that makes solutions and methods understandable for humans. The bill tackles the question of storing the data locally, b...
Tags: Amazon, Startups, India, Walmart, Bloomberg, Flipkart


Uber reportedly agrees to acquire Postmates for $2.65 billion

Uber has reportedly agreed to buy Postmates in an all-stock deal worth $2.65 billion. According to Bloomberg, the deal may be announced on Monday morning. Like other travel- and transportation-related businesses, Uber’s ride-hailing segment has been negatively impacted by the COVID-19 pandemic, due to shelter-in-place orders throughout the United States. On-demand delivery, however, has grown, with people relying on services like Uber Eats to get food without leaving their homes. According...
Tags: Fundings & Exits, Startups, TC, Uber, Indonesia, Tech, Bloomberg, United States, Food Delivery, Postmates, On-demand Delivery, Uber Eats, Acquisitions, Southeast Asian, GrubHub, Postmates Bloomberg


Uber will acquire food delivery startup Postmates in $2.6 billion all-stock deal, reports say

Uber is set to acquire food delivery startup Postmates in a $2.6 billion all-stock deal, both The New York Times and Bloomberg reported on Sunday. Postmates was co-founded by Bastian Lehmann, Sam Street, and Sean Plaice in 2011 and has grown to include a fleet of over 500,000 members and 600,000 merchants across 50 states.  Last month, Uber lost out to European food delivery service Just Eat Takeaway in a deal to buy US-based Grubhub for $7.3 billion. According to CNBC, Uber may have pulled ou...
Tags: London, US, Trends, Bloomberg, New York Times, The Times, Times, Ubereats, GrubHub, Pierre Dimitri Gore Coty, CNBC Uber, Bloomberg Postmates, Second Measure Postmates, Bastian Lehmann Sam Street, Sean Plaice, The Times Uber


Remembering the Boeing 747, the jumbo jet that started it all

According to people in the know, Boeing looks like it’s discontinuing its iconic 747 jumbo jet. In just two years time, the last of the twin-aisle jumbos will leave its Seattle-based factory. The news comes from a Bloomberg report that cites “people familiar with the matter,” who say the news hasn’t officially been announced to Boeing‘s employees but can be “teased out from subtle wording changes in financial statements.” I guess we’ll just have to take their word for it, for now. [Read: Remembe...
Tags: Startups, Planes, Bloomberg, World, Seattle, Boeing, Shift, Nucleon Ford


A woman who accused video game designer Chris Avellone of sexual assault opens up about her allegations and says it's time to oust abusers from the industry

Chris Avellone, a high-profile video game designer known for his work on "Planescape: Torment" and two "Fallout" games, has been accused of sexual assault. One of Avellone's accusers, Karissa, told Business Insider that Avellone forcibly kissed her and then tried to put his hand down her pants while she was "blackout drunk" at a 2012 convention. She says he stopped when she told him "this isn't a good idea." Avellone responded to the allegations on Twitter soon after they came to light, saying...
Tags: Microsoft, Trends, Bloomberg, EA, Collins, Chris, Business Insider, Karissa, Techland, Planescape, Obsidian Entertainment, Chris Avellone, Jacqui Collins, Samuel Horti, Avellone, Karissa Avellone


Palantir has raised more than $500 million in fresh funding as the secretive and controversial startup works toward a possible IPO

Palantir said it sold more than $500 million in stock to private investors and hopes to sell about $400 million more.  The company was said to be preparing for a September IPO, and it's unclear how the new funding affects those plans.  As a data-analytics company cofounded by a Trump confidant that works with US immigration agencies, the startup has also found itself in controversy.  Visit Business Insider's homepage for more stories. Palantir, the secretive data-analytics company cofounded b...
Tags: US, Trends, Bloomberg, Peter Thiel, Silicon Valley, Palantir, Securities And Exchange Commission, Trump, Valley, Joe Lonsdale, Customs Enforcement, Slack Palantir


Jeff Bezos' net worth just hit an all-time high. Here's how the richest person in the world makes and spends his $171 billion fortune.

Jeff Bezos, the wealthiest person alive, is now richer than he's ever been. Bezos pledged to spend $10 billion to fight climate change in February and promised $100 million to food banks in April. As Amazon's founder and CEO, Bezos was the first person in modern history to accumulate a fortune of over $100 billion — and he currently has a net worth of $171.6  billion, Bloomberg estimates. He spends his fortune on real estate across the US, a $65 million Gulfstream Jet, and his space exploratio...
Tags: Google, Amazon, Post, Elon Musk, Yahoo, La, US, America, Trends, Tesla, Bloomberg, Nasa, Earth, Washington Dc, Bill Gates, Beverly Hills


Jeff Bezos' fortune just surpassed $171 billion. Here's how he built Amazon into a $1.4 trillion company and became the world's richest man. (AMZN)

Amazon CEO Jeff Bezos' net worth just reached a new high of $171.6 billion. Bezos founded Amazon in 1995. The company has since grown to one of the most valuable, powerful companies on the planet. Bezos has gone from a New York hedge-funder to the richest man in the world, but in the process, he's weathered a high-profile divorce and hacking scandal, faced antitrust scrutiny from lawmakers, and everything in between.  These days, Bezos is focused on making Amazon more climate-friendly, growing...
Tags: Google, Amazon, Elon Musk, New York, Texas, Instagram, Microsoft, Congress, Washington Post, Washington, Germany, New York City, Trends, Bloomberg, Iran, Intel


Jeff Bezos is reportedly now worth over $171 billion, more than he was worth before his divorce (AMZN)

Jeff Bezos' net worth has reached an all-time high of $171.6 billion, according to Bloomberg. The boost comes after Amazon's shares hit a new high of $2,878.70, pushing Bezos' fortune higher than it was before his divorce from MacKenzie Bezos. She received 25% of the couple's Amazon shares as part of the settlement.  Amazon has seen a surge in demand during the coronavirus pandemic, leading the company to hire thousands of workers and temporarily raise worker pay.  But the company has also fac...
Tags: Amazon, Elon Musk, Congress, Trends, Bloomberg, Jeff Bezos, Bezos, Oreal, AMZN, Bloomberg Bloomberg, Zoox, MacKenzie Bezos, Françoise Bettencourt Meyers, Billionaire Index Amazon


Tim Cook, Mark Zuckerberg, Jeff Bezos, and Sundar Pichai will all testify before Congress in an antitrust hearing

Facebook's Mark Zuckerberg, Google's Sundar Pichai, Apple's Tim Cook, and Amazon's Jeff Bezos will all testify before Congress in an antitrust hearing in late July. The news was confirmed by Democratic Rep. David Cicilline of Rhode Island. Zuckerberg, Pichai, and Bezos had all reportedly been confirmed by mid-June, although Zuckerberg and Pichai said they would only testify if Cook did too. Cicilline's comments suggest Cook has now agreed to attend. Visit Business Insider's homepage for more ...
Tags: Apple, Google, Amazon, Facebook, Mark Zuckerberg, Cook, Congress, Trends, Eu, Bloomberg, Tim Cook, European Commission, Department Of Justice, Jeff Bezos, Rhode Island, Sundar Pichai


Jeff Bezos’ wealth soars to $171.6 billion, topping pre-divorce record

By Berber Jin and Jack Witzig, Bloomberg Jeff Bezos’s net worth has smashed through its previous peak, even after he relinquished a quarter of his stake in Amazon.com Inc. as part of a divorce settlement last year. Shares of the Seattle-based retailer surged 4.4% to a record $2,878.70 Wednesday, boosting the founder’s world-leading fortune to $171.6 billion. That tops his previous high of $167.7 billion, set on Sept. 4, 2018, according to the Bloomberg Billionaires Index. His gains — $56.7 billi...
Tags: Amazon, Business, Elon Musk, Spain, Bloomberg, Sport, Economy, Soccer, Warren Buffett, L'oreal, Zara, Jeff Bezos, Seattle, Alice Walton, Amancio Ortega, Bezos


Apple is canceling deals with game makers as it rethinks Apple Arcade, according to a new report (AAPL)

Apple's subscription gaming service, Apple Arcade, is reportedly getting revamped to keep subscribers locked in. For $5 per month, Apple Arcade offers users access to over 100 games across iPhone, iPad, Apple TV, and Mac computers. The company is said to have canceled several deals with game makers as it shifts to games with stronger "engagement," according to a Bloomberg report. Since launching in September 2019, Apple Arcade has failed to host any must-play games, and game makers speaking to...
Tags: Apple, Mac, Trends, Bloomberg, Apple TV, Arcade, Aapl, Ben Gilbert, Apple Arcade



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