Just when you thought Uber had hit rock-bottom and was on its way back up...
In a somewhat stunning - even for Uber - series of events, Bloomberg reports that the ride-hailing service concealed a massive cyberattack - in which hackers stole personal data from 57 million customers - for more than a year... and paid the hackers $100,000 to keep quiet about the cyberattack.
Yesterday we presented readers with one of the most pessimistic, if not outright apocalyptic, 2018 year previews, courtesy of BofA's chief investment, Michael Hartnett who warned that in addition to the bursting of the bond bubble in the first half of the year, the stock market could see a 1987-like flash crash, potentially followed by a sharp spike in (violent) social conflict.
At lunchtime today, Philip Hammond will give the weakened Conservative government’s first budget in the new parliament.
Against a likely backdrop of downgrades for the economy from the OBR, the Chancellor will be under immense pressure to provide a sound plan going forward on many issues. As Statista's Martin Armstrong notes, the NHS has already had its call for an emergency boost of £4 billion rejected, but there will need to be at least some answers to the problems surrounding health and public services funding.
This week, the European Union agreed to end unjustified geoblocking after a late-night session.
Last month, we reported that wealthy homeowners in one of America’s prototypical enclaves of wealth and privilege have begun to pull their stately mansions from the market as demand for high-end properties in Greenwich, Conn. Has plunged in recent years.
Despite sellers slashing prices, so far, only three Greenwich homes have sold for more than $10 million. In response, new listings have dropped 31% as sellers opt to wait out the gully in hopes of securing a higher price.