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Bridging The Gap
Snapchat's moment of truth is here Snapchat's moment of truth is here
Snapchat has seen much of its market value disappear since going public in March. Now the situation could go from bad to worse. Snap (SNAP), the parent company of Snapchat, fell as much as 5% in early trading Monday to a new low as some company insiders finally get the chance to cash out. The stock later rebounded and was flat by late morning. Like many newly public companies, Snap had a "lockup...
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Coca-Cola is replacing Coke Zero with a new drink Coca-Cola is replacing Coke Zero with a new drink
If you love Coke Zero, you'd better stock up on it: Coca-Cola is ditching the drink. Coke Zero will be replaced by a new sugar-free drink called Coca-Cola Zero Sugar, Coke announced Wednesday. Coca-Cola Zero Sugar has already been a success in 25 markets around the world, including Europe, Latin America, the Middle East and Africa. Next month, it will be the United States' turn: the new drink ...
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Nestlé is building a factory just for flavored KitKats Nestlé is building a factory just for flavored KitKats
Japan loves weirdly flavored KitKat bars so much that the country is getting a brand new factory just to make them. Nestlé, which manufactures the hugely popular wafer chocolates, said the factory will begin operations in August. It will be Nestlé's (NSRGY) first new factory in Japan in 26 years, a company spokeswoman told on Wednesday, adding that it is being built to satisfy "the increasin...
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Airbus cuts superjumbo A380 production again Airbus cuts superjumbo A380 production again
European aircraft maker Airbus has cut production of its A380 superjumbo for the second time in a year. Deliveries of the double-decker will now fall from 15 this year to 12 in 2018 and eight in 2019, Airbus said. Chief Executive Tom Enders said that prospects of further sales of the A380 in the short-term were not "necessarily high". Airbus, which has not had an A380 order for two years,...
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Amazon Prime makes first foray into South East Asia Amazon Prime makes first foray into South East Asia
Amazon has taken its first foray into South East Asia, launching its Prime Now service in Singapore. The move is seen as the start of an aggressive expansion in the region, which has a population of about 600 million people. It is also the first time Amazon has gone head-to-head with Chinese rival Alibaba in Asia. The Singapore service promises two-hour delivery on thousands of items including ...
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Uber adjusts employee pay to ensure gender, racial equity Uber adjusts employee pay to ensure gender, racial equity
Uber says it is taking action to ensure its employees are fairly compensated. The company is bumping up salaries to ensure all employees -- regardless of gender or race -- are paid equally based on their location, job and tenure in the role, according to tech news site The Information. The move comes at a time when the $68 billion startup is working to repair its culture. "To date, our compensa...
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Apple, Google and Microsoft are hoarding $464 billion in cash Apple, Google and Microsoft are hoarding $464 billion in cash
Apple, Google and Microsoft are sitting on a mountain of cash -- and most of it is stashed far away from the taxman. Those three tech behemoths held a total of $464 billion in cash at the end of last year, according to a Moody's report published Wednesday. Apple (AAPL, Tech30) alone had a stunning quarter-trillion dollars of cash thanks to years of gigantic profits and few major acquisitions. Th...
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US jobs growth faster than expected US jobs growth faster than expected
US employment rose by more than expected last month, but wage growth remained subdued, latest figures show. The economy added 222,000 jobs in June, the US Department of Labor said, and job creation in April and May was higher than previously estimated. However, despite the job gains and a low 4.4% unemployment rate, wage growth remained tepid. Average wages rose 2.5% year-on-year, which analyst...
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Tesla boosted ahead of Model 3 electric car launch Tesla boosted ahead of Model 3 electric car launch
Shares in electric car maker Tesla have risen after founder Elon Musk said its new Model 3 car would be ready by Friday, two weeks ahead of schedule. Mr Musk said the five-seater car - its lowest-cost vehicle to date - had passed all its regulatory tests. "Expecting to complete SN1 [serial number 1] on Friday," he tweeted, referring to the first car off the production line. Tesla's shares rose ...
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United makes a play to become the top airline to Hawaii United makes a play to become the top airline to Hawaii
United Airlines is making a play for the Hawaii market, increasing service to the state from four of its hub airports. The carrier announced on Tuesday it would add 11 additional flights to the state, an expansion United said would give it “the most flights between the mainland and the Hawaiian Islands than any other carrier.” From Denver, United is upgrading three of its Hawaii routes from ...
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