Bitcoin Ban Expands Across Credit Cards as Big U.S. Banks Recoil

February 4, 2018

A growing number of big U.S. credit-card issuers are deciding they don’t want to finance a falling knife. JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. JPMorgan, enacting the ban Saturday, doesn’t want the credit risk associated with the transactions, company spokeswoman Mary Jane Rogers said. Bank of America started declining credit card transactions…

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Apple, Returning Overseas Cash, to Pay $38 Billion Tax Bill

January 19, 2018

Apple Inc. said it will bring hundreds of billions of overseas dollars back to the U.S., pay about $38 billion in taxes on the money and spend tens of billions on domestic jobs, manufacturing and data centers in the coming years. The iPhone maker plans capital expenditures of $30 billion in the U.S. over five years and will create 20,000 new jobs at existing sites and a new campus it intends…

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Wal-Mart to Cut Thousands of Store-Management Roles

January 19, 2018

A day after embarking on a pay hike, Wal-Mart Stores Inc. is taking steps to shake up management at thousands of its stores. The world’s biggest retailer is removing about 3,500 store co-managers, a salaried role that acts as a lieutenant underneath each store manager, according to people familiar with the move. It’s also adding about 1,700 assistant store managers, a slightly lower-paid role, who will oversee fast-growing areas like online…

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Ubers Secret Tool for Keeping the Cops in the Dark

January 18, 2018

In May 2015 about 10 investigators for the Quebec tax authority burst into flouting local labor laws and taxi rules has made it a favorite target for law enforcement agencies around the world. That’s where this remote system, called Ripley, comes in. From spring 2015 until late 2016, Uber routinely used Ripley to thwart police raids in foreign countries, say three people with knowledge of the system. Allusions to its…

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How One Mysterious Startup Is Riding the Bitcoin Wave

January 2, 2018

With hardly a year of operations under its belt and scant results to show for it, UBI Blockchain Internet is riding buzzwords to a stock boom. It’s become one of the most valuable publicly traded companies in the bitcoin universe — second only to LongFin Corp. The stock surged almost 1,000 percent this year, valuing UBI Blockchain at $1.2 billion. Now, the Hong Kong-based company has registered to sell an additional…

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This Electric Truck Will Probably Beat Teslas to Market

December 16, 2017

On the evening of Nov. 16, Elon Musk unveiled the latest prop in his Tony Stark cosplay. Photographer: Angie Smith for Bloomberg Businessweek As Semler drives the ET1 around Hollywood, gawkers whip out their phones to take photos. The heavy-duty semi, which has a 22-inch touchscreen on its dashboard and a winged black logo splashed across its grille, uses a beach-ball-size electric motor and a couple of large battery packs…

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Silicon Valley Is Sneaking Models Into This Years Holiday Parties

December 15, 2017

Along with a seemingly endless string of harassment and discrimination scandals, Silicon Valley’s homogeneity has a more trivial side effect: boring holiday parties. A fete meant to retain all your talented engineers is almost certain to wind up with a rather same-y crowd, made up mostly of guys. At this year’s holiday parties, however, there’ll be a surprising influx of attractive women, and a few pretty men, mingling with the…

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