Dropbox set terms for its IPO which is expected to debut sometime next week on the Nasdaq. The file sharing company plans to sell 36 million Class A shares at $16 to $18 a piece. That sets the company's valuation as high as $8 billion, which is significantly lower than Dropbox's 2014 private valuation of $10 billion. Shares are expected to start trading sometime next week on the Nasdaq under the ticker symbol DBX.
Elon Musk surprised fans by showing up at a South by Southwest panel for HBO's "Westworld" to talk about space travel. He set a new timeline for his mission to send test flights to Mars, saying this could happen as soon as the first half of next year. However, Musk did acknowledge his propensity for setting unrealistic timelines for his projects. In addition to talking about SpaceX, Musk also spoke about his other companies, Tesla and The Boring Company.
Michael Harriot from The Root joins us to talk about the high stakes in the Pennsylvania special election. Democrat Conor Lamb faces Republican Rick Saccone in a battle to represent the state's 18th district, a traditionally conservative district. However, polls show it's a close race between the two candidates. Harriot says the unpopularity of President Trump is giving Democrat Conor Lamb an advantage. He also says this race is very important as it could have huge implications for the midterm elections later this year.
And we catch up with Joseph Lubin, co-founder of Ethereum, at South by Southwest to talk about the future of cryptocurrency. He compares the rise in popularity of cryptocurrency to the dot-com boom in the late 90s, saying that this is a learning period for those in the industry. With regard to the recent volatility in the price of bitcoin, Lubin says he's not too concerned and is instead focused on long-term growth.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
Nvidia reported a 56% increase in second-quarter revenue and a 59% rise in net income compared to a year ago.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Netflix CEO Ted Sarandos claims audiences don't want to watch Netflix movies in theaters, but that seems not to be the case recently.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
