Arturo Estrella has a message for recession naysayers: It could hit sooner than you think.Marketsread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
Salesforce released its first earnings report since its $15.3 billion acquisition of Tableau Software, the company's largest deal ever.Technologyread more
Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Kudlow also confirmed to CNBC that he supported a tax cut proposal floated earlier Thursday by Sen. Rick Scott, R-Fla.Politicsread more
VMware is following through on its proposal to buy Pivotal, a fellow Dell subsidiary, and expanding into cybersecurity with the acquisition of Carbon Black.Technologyread more
Google says it shut down hundreds of YouTube channels tied to misinformation around the Hong Kong protests.Technologyread more
It is a rare scenario where long-term interest rates suddenly fall below short-term interest rates.Real Estateread more
Investors are rushing to get a piece of its privately held rival Impossible Foods before it goes public, according to the Wall Street Journal.Food & Beverageread more
Weisler has been CEO at the company since 2015 when it split from HPE.Technologyread more
Companies want to know our values and if they work with us, "they want to be aligned with those values," Salesforce co-CEO Keith Block says.Mad Money with Jim Cramerread more
Elon Musk's Boring Co. just landed its first paying customer — a contract to build a loop at the Las Vegas Convention Center.
The board of the Las Vegas Visitors and Convention Authority voted Wednesday to approve a $48.6 million contract with Musk's tunneling company. The loop would move people across 200 acres of conference space with two tunnels for vehicles and three stations, according to the contract. The agency expects construction to begin as early as September.
The authority is spending $1.4 billion to expand and renovate the convention center and sees the LVCC Loop as the kind of technology that helps attract meeting and convention business.
"The Boring Company looks forward to working with LVCC to build a safe, affordable and exciting transportation system in Las Vegas," the company said in a statement.
Las Vegas has other mass transit systems, including a monorail that travels along much of the Strip. But the company that operates the monorail went into bankruptcy in 2010, in part, because of low ticket sales.
The meeting and convention business is increasingly important for Las Vegas' bottom line. Of the 42 million visitors to the city last year, 6.6 million came for meetings. And they came during the weekdays, driving demand for dining, entertainment and gaming, according to data from the visitors and convention authority.
An efficient, high-speed people mover at the convention center might attract even more visitors. Proposals call for an underground loop that connects the entire Las Vegas Strip, McCarren International Airport, the new Raiders stadium and potentially even a route from Los Angeles to Las Vegas.
The Boring Company prides itself on significantly reducing the cost of tunneling, which can run as much as $1 billion per mile, by shrinking tunnel diameters and increasing the speed of the tunnel boring machines. It spent $10 million to roll out a mile-long test tunnel at its Hawthorne facilities in Los Angeles in December.
It's also working on projects in Los Angeles, Chicago and Maryland. Despite fanfare and optimism that accompanied the announcements in those locations, the projects have been stymied by layers of bureaucracy, opposition from neighbors and concerns that mega-tunnels come with a mega-price tag and mega-annoyance of massive projects, such as the Big Dig in Boston or the Second Avenue Subway in New York.
The convention authority plans to have the loop running in time for the Consumer Electronics Show in Las Vegas in January 2021. If it's completed, it would become The Boring Co.'s first commercially operating project.