• Pearl Automation, Self-Driving Tech Start-Up, Runs Out Of Power
    The $50 million three former Apple engineers raised from venture capitalists to develop and market autonomous driving technology is now in the rear-view mirror. Scotts Valley, Calif.-based Pearl Automation shut down yesterday after a three-year run.
  • Loeb Pumps $3.5 Billion Into Nestle; Suggests Dramatic Changes
    Nestle's market value has been surging on the news that the activist hedge fund led by Daniel Loeb has bought about 40 million shares - a $3.5 billion stake - of the Vevy, Switzerland-based food conglomerate's stock.
  • American Perplexed By Qatar Airways Wanting To Fly With It
    American American Airlines CEO Doug Parker finds it "puzzling" that Qatar Airways is floating the idea of buying a 10% stake in the carrier - particularly since U.S.-based airlines have been arguing that they are at a disadvantage to those based in the Middle East that receive government subsidies.
  • Diageo Orders Up A $1 Billion Shot Of George Clooney's Tequila
    Diageo is paying George Clooney and two of his buddies - Rande Gerber and Mike Meldman - up to $1 billion for Casamigos, the tequila brand they started four years ago because they themselves wanted better-tasting firewater after engaging in some disappointing sampling during time off in Mexico.
  • Investors Force Kalanick's Exit As Uber CEO
    Uber co-founder and CEO Travis Kalanick resigned late Tuesday after receiving a letter from five major investors - "a shareholder revolt," as the "Washington Post" puts it - demanding that he do so.
  • Boeing Sees Demand Rising, Offers Peeks At Narrower Future Aircraft
    For all the complaints about cramped, cranky and confusing airline service in recent years, transporting people and things through the sky is a growth business - an assertion underscored by Boeing revising upwards its rolling 20-year industry forecast for passenger and freight traffic at the Paris Airshow this morning.
  • Tech Leaders Convening At The White House To Jaw About IT
    Amazon's Jeff Bezos, Apple's Tim Cook, IBM's Ginni Rometty, Google's Eric Schmidt and Microsoft's Satya Nardella are expected to be among the high-profile tech leaders gathered around President Donald Trump today as he convenes the first meeting of the American Technology Council at the White House. Though "expected" is a loaded word.
  • Nestle May Sell Off Some Of Its Popular U.S. Candy Brands
    With its confectionary business heading south as Americans indulge more and more in healthier snacks, Nestle SA yesterday said it was exploring its "strategic options" for the likes of Butterfinger, Baby Ruth and Crunch bars - not to mention 100Grand, Laffy Taffy, Nerds, SkinnyCow, SweetTars, Raisinets and Gobstoppers.
  • Fed Ratchets Up Short-Term Rates, Signaling All Is Chugging Along
    The Federal Reverse yesterday raised short-term interest rates by a quarter point as expected, and indicated another bump will come later this year. It's all good, say most observers.
  • Conde Nast Goes Out Of Style.com; Partners With Farfetch
    It turns out that Conde Nast's attempt to create an e-commerce site for dedicated followers of fashion was really a farfetched idea. As of yesterday, visitors to Style.com, which the publisher relaunched as a retail site out of London last September, are being redirected to Farfetch.com, for which Conde Nast will tailor words and images that instill that feeling of "gotta have it."
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