It's about time to write off high-growth tech stocks, Goldman warned, saying software carries the highest multiples since the tech bubble.Marketsread more
Iran will surpass the internationally agreed levels of its low-enriched uranium levels in 10 days, the country's atomic energy body said Monday.Politicsread more
Boeing said the airline industry will need 44,040 new commercial airplanes by 2038. The market value of those planes would reach $6.8 trillion, up from $6.49 trillion...Airlinesread more
Sotheby's announces it has signed an agreement to be acquired by BidFair USA, a venture owned by art collector Patrick Drahi.Marketsread more
Apple is reportedly building three new iPhones for 2020, including two with 5G. It may also slightly change the screen sizes of the new iPhones.Technologyread more
Overall, extortion by email is growing significantly, according to the FBI's Internet Crime Compliant Center (IC3). Last year, these complaints rose 242% to 51,146 reported...Technologyread more
In a 7-2 ruling, over dissents from Justices Ruth Bader Ginsburg and Neil Gorsuch, the justices affirmed the so-called "dual sovereignty" exception to the Constitution's...Politicsread more
Target's nationwide cash register meltdown over the weekend created more than $16 million in buzz on the internet from news reports and other social media mentions, according...Retailread more
The chipmaker crush could persist and investors should be selective, but Nvidia looks like a clear buy, one market watcher says.Trading Nationread more
The top court scrapped a ruling from the Oregon Court of Appeals in favor of the same-sex couple. The owners of the bakery, which refused the make the cake due to religious...Politicsread more
Boeing reached a deal with British Airways to provide parts for some of its plane's made by rival manufacturer Airbus, part of Boeing's push to grow its services business.Airlinesread more
New York City subway riders will soon be able to enter some stations with the tap of an smartphone or wearable device.
Beginning May 31, riders will be able to use contactless credit cards and digital wallets like Apple Pay, Google Pay, Samsung Pay and Fitbit Pay to access Staten Island buses and some stops on the 4, 5 and 6 subway lines. The pilot program is the first step toward phasing out the plastic MetroCards, which is set to be completed in 2023.
The system, known as OMNY, will roll out in stages across the city over the next few years. By late 2020, all bus routes, subways stations and Staten Island Railway stops will be set up, according to the Metropolitan Transportation Authority. OMNY will expand to commuter rails by early 2021, according to the MTA.
The shift to OMNY is meant to speed up access to New York City's transit system and bring the system up to date with other modern systems. Public transit systems in Portland, London, Vancouver and other locations already accept digital payments through Apple Pay, according to Apple's website.
Contactless payment systems and digital wallets have become increasingly popular. Apple has leaned more heavily into the payments space with the introduction of its new Apple Card in partnership with Goldman Sachs at a presentation in March. Amazon Go stores allow users to scan their phones as they walk into a store so they do not have to checkout with a cashier at the end of their trip.
The payment systems have also raised concerns about who has access to bank accounts and digital wallets. In April, for example, CNBC reported that an Amazon executive told employees it would begin to accept cash at Amazon Go stores to address concerns that its digital-only system was discriminatory against low-income consumers.