Business

Should Africa let Silicon Valley in?

African countries should be nervous about the big technology companies sweeping through their economies, knocking out established businesses and crushing startups before they have had a chance to blossom. That’s the message from the anti-poverty charity Global Justice Now in a report that warns of an “e-pocalypse” across the southern hemisphere, as western firms keen to sell sophisticated digital services use their muscle to outmanoeuvre local businesses in poorer nations. Africa is seen as particularly vulnerable after decades of underinvestment ...

Royal wedding live: Meghan Markle and Prince Harry are officially ...

Getty Images Prince Harry and Meghan Markle were married Saturday at St George’s Chapel in Windsor, and Business Insider is covering proceedings as they happen. Oprah, Serena Williams, and Elton John were some of the celebrities who turned out to watch them marry, as well as queens and royals. Scroll down for a timeline of the day and click here to refresh the page for the latest updates.

2 North Koreans, including a military officer, reportedly defect to ...

North Korean soldiers chat as they walk on the banks of the Yalu River, near the North Korean town of Sinuiju, June 1, 2014. REUTERS/Jacky Chen Two North Koreans reportedly defected to South Korea by boat. One of the defectors was a military officer. Two North Koreans defected to South Korea early on Saturday and were found in the Yellow Sea, Seoul-based news agency Yonhap reported, citing a government source. Yonhap said that South Korean military spotted two people in ...

Google has been waiting for years to put Don’t Be ...

Remember Don’t Be Evil? When Google became a verb in the early 2000s, the adage became a slogan that paid dividends for the tech company. Google founders Larry Page and Sergey Brin enshrined it in the company’s official code of conduct for employees, and inumerable news stories and TV segments gushed over the benevolent tech giant’s admirable combination of innovation and altruism. At some point during the past month that changed. As Gizmodo first reported on Friday, the famous phrase ...

Court document shows the gunman in the Santa Fe high-school ...

Dimitrios Pagourtzis, whom law-enforcement officials took into custody Friday, in a photo provided by the Galveston County Sheriff’s Office. Galveston County Sheriff’s Office via Associated Press Police have identified Dimitrios Pagourtzis as the suspect in the shooting that left 10 people dead at a high school in Santa Fe, Texas, on Friday. Pagourtzis was a student at the school. Pagourtzis was armed with two firearms, including a shotgun and a .38-caliber revolver, Gov. Greg Abbott told news outlets on Friday ...

Netflix’s DVD business is still alive and profitable — here’s ...

18 Hours Ago Netflix’s DVD-rental service, DVD.com, is still in operation and is profitable, by a small margin. The company now has 17 DVD distribution hubs around the U.S., down from 50 at its peak. Three million people still use the DVD service partly because it has a larger collection of titles and often gets newer movies and TV shows faster than the streaming service.

Trump reportedly tried to personally demand that the Postal Service ...

President Donald Trump has pushed the US Postal Service to raise its rates on Amazon. Associated Press/Evan Vucci President Donald Trump has personally pressured the United States Postal Service to raise the rate it charges Amazon to deliver packages, according to a Friday report from The Washington Post. Trump asked Megan Brennan, the US postmaster general, to double the rate that the Postal Service charges Amazon and other companies to deliver packages, The Post reported, citing three people familiar with ...

Square stumbles into the banking business

Square customers are treating the payment company’s Cash app more like a bank account than the company intended, CEO Jack Dorsey said this week. While that wasn’t a goal, he said Square plans to capitalize on the trend. “People are using this as their primary banking account, and in some case it’s their only bank account,” Dorsey said on stage at the Consensus blockchain conference in New York this week. “We are reaching an audience that is under-served and even ...

Why Coinbase’s Cryptocurrency Business Could Jump 50%

Today, the more than $365 billion invested in Bitcoin and other cryptocurrencies is owned almost entirely by individual investors—not by Wall Street institutions. That’s finally about to change. Coinbase, the largest U.S. Bitcoin exchange, launched new professional-grade trading products for institutional investors this week, citing rising demand for cryptocurrency from smart money heavyweights. “How we’ve seen it play out in the institutional space, very few want to be first, but most want to be second,” says Adam White, Coinbase’s general ...

Putin Praises Trump for Business Skills, Calls Him ‘Donald’

Even when Donald Trump is threatening sanctions against a vital Russian energy project, President Vladimir Putin still has nothing but praise for his American counterpart. “Donald isn’t just president of the United States, he’s also a good and strong entrepreneur,” Putin said at talks with German Chancellor Angela Merkel in Russia’s Sochi on Friday. “He’s also promoting the interests of his business to ensure sales in the European market of liquified American gas” by opposing the Nord Stream 2 gas-pipeline ...