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Tech Industry Eyes Next Big Thing Amid Drop In Smartphone Sales Tech Industry Eyes Next Big Thing Amid Drop In Smartphone Sales
Tech Industry Eyes Next Big Thing Amid Drop In Smartphone Sales Now that more than 80 percent of American adults own smartphones, tech industries are developing the next big thing. Prompted by a drop in smartphone sales over the past two years, many technology companies - including Apple, Microsoft, Google, Facebook, and Amazon - to get back to research and development, CNBC reported. So what will the next big thing be, according to tech companies? Augmented reality or AR is otherwise known as mixed reality. Here is a still from a video by Apple showing how its new AR (augmented reality) platform will display on a smartphone.Apple This isn’t the…

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by Kristin Palpini
Business
Amazon 'Gig' Drivers Win $61 Million Settlement On Tip-Stealing Complaints Amazon 'Gig' Drivers Win $61 Million Settlement On Tip-Stealing Complaints
Amazon 'Gig' Drivers Win $61 Million Settlement On Tip-Stealing Complaints Amazon has settled accusations that it stole millions of dollars in tips from Amazon Flex Delivery “gig” drivers. Amazon settled the charges and the deal was announced by the Federal Trade Commission on Tuesday, Feb. 2. To comply with the settlement, Amazon will have to pay back $61.7 million to drivers, provide only accurate information about tips and pay to both customers and drivers, and get drivers’ consent before changing how it handles tips in the future, the FTC said. The FTC said that mega online-retailer Amazon had kept drivers’ tips for years despite numerous job ads touting th…

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by Kristin Palpini
News
COVID-19: Here's When To Expect Second Stimulus Check To Arrive COVID-19: Here's When To Expect Second Stimulus Check To Arrive
Covid-19: Here's When To Expect Second Stimulus Check To Arrive Relief is on the way for Americans financially strapped during the COVID-19 crisis. Congressional leaders unveiled on Sunday, Dec. 20 an approximately $900 billion stimulus deal that will provide Americans that qualify direct payments of $600 to help offset the hardships caused during the pandemic. The $600 is half of what was directed during the first round of stimulus checks earlier this year. Treasury Secretary Steve Mnuchin told CNBC on Monday that the checks could be in Americans’ bank accounts in a matter of just a few days for those who have direct deposit info on file with the IRS.…

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by Zak Failla
Politics
Ex-TV Anchor To Challenge Alexandria Ocasio-Cortez In Congressional Primary Ex-TV Anchor To Challenge Alexandria Ocasio-Cortez In Congressional Primary
Ex-TV Anchor To Challenge Alexandria Ocasio-Cortez In Congressional Primary Former CNBC anchor Michelle Caruso-Cabrera is throwing her hat into the Congressional race and is planning on taking the seat of Congresswoman Alexandria Ocasio-Cortez in the 14th district, representing parts of Queens and the Bronx. Caruso-Cabrera took to Twitter on Tuesday, Feb. 11 to announce that she is challenging Ocasio-Cortez, a 2009 Yorktown High School graduate, in the Democratic primary. Michelle Caruso-Cabrera is challenging Yorktown High School graduate Alexandria Ocasio-Cortez in the Congressional primary.Twitter Caruso-Cabrera is a registered Democrat and descendant of Cub…

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by Zak Failla
News
Morgan Stanley Cutting Jobs Due To Uncertain Global Environment, Report Says Morgan Stanley Cutting Jobs Due To Uncertain Global Environment, Report Says
Morgan Stanley Cutting Jobs Due To Uncertain Global Environment, Report Says Wall Street giant Morgan Stanley will be cutting hundreds of jobs due to an “uncertain global economic outlook,” according to a new report. Morgan Stanley will be cutting approximately 1,500 jobs - roughly 2 percent of its workforce - impacting employees in technology, operations, sales trading, and research. The New York-based bank currently employees more than 60,000 people. According to CNBC, in October, Morgan Stanley posted third-quarter profit and revenue figures that beat analysts’ expectations. The company produced $10.1 billion in revenue, exceeding analysts’ estimates by appr…

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by Zak Failla
News
Alert Issued For Wire Fraud Scam Targeting Direct Deposit Info Alert Issued For Wire Fraud Scam Targeting Direct Deposit Info
Alert Issued For Wire Fraud Scam Targeting Direct Deposit Info A new phishing scam is targeting the HR departments of companies in an effort to reroute direct deposits. CNBC first reported that the new scam involves fraudsters rerouting direct deposit accounts, and once checks are made, the paycheck will instead go directly into the criminal’s account. According to KVC Health Systems, a child welfare nonprofit based out of the Midwest that was hit by the scam reported that the emails look legitimate and intentionally come from the company’s CEO, CFO or payroll director to increase the authenticity of the request. Reports state that the emails are diff…

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by Zak Failla
Business
Toys R Us Back With New Name A Year After Going Out Of Business Toys R Us Back With New Name A Year After Going Out Of Business
Toys R Us Back With New Name A Year After Going Out Of Business Like Toys R Us, but different.  Nearly a year after going out of business, the toy conglomerate is trying for a comeback. This time, it's called Tru Kids and is headquartered out of Parsippany, New Jersey just 20 minutes from its former Wayne, New Jersey location, CNBC reports. The company -- which was launched Jan. 20 -- is operated by former Toys R Us executives hoping to bring back Geoffrey and more. Tru Kids is still ironing out a complete business plan and exploring multiple options including stand-alone stores, pop-up shops and partnerships (possibly Amazon), according to n…

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by Cecilia Levine
Business
All-Time High: Black Friday Online Sales Soar To $6.2 Billion All-Time High: Black Friday Online Sales Soar To $6.2 Billion
All-Time High: Black Friday Online Sales Soar To $6.2 Billion This year’s Black Friday holiday shopping spree has topped last year’s numbers, according to a new report from Adobe Analytics. The day after Thanksgiving, Friday, Nov. 23, 2018, has officially become the first day in history that saw more than $2 billion in sales that were made on smartphones as opposed to laptop or brick-and-mortar sales. This large spike in smartphone-based Black Friday sales can be attributed to multiple factors, but it’s certainly a careful and calculated goal from major retailers. "Retailers have done their part to build better mobile experiences for consumers and tu…

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by Valerie Musson
Business
Sears On Brink Of Bankruptcy, Report Says Sears On Brink Of Bankruptcy, Report Says
Sears On Brink Of Bankruptcy, Report Says After years of store closures, Sears, once the world's largest retailer, could be just days away from facing bankruptcy. The 125-year-old company, which has not turned a profit since 2010, has approached several banks to prepare for a bankruptcy filing, according to CNBC. Sears has a $134 million debt payment due Monday that it previously reported it cannot cover, the report said. Eddie Lampert, a hedge-fund manager who took over as Sears CEO in 2013, said in late September that despite changes in the way it does business, the future looked bleak for the once vibrant company. “The journey…

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by Joe Lombardi
Business
CNBC Study Reveals Where CT Ranks Among Best States For Business CNBC Study Reveals Where CT Ranks Among Best States For Business
CNBC Study Reveals Where CT Ranks Among Best States For Business Texas finished first. Alaska finished last. How does Connecticut fare compared to other states for business? In this study, CNBC scored all 50 states on more than 60 measures of competitiveness, developed with input from a broad and diverse array of business and policy experts, official government sources, the CNBC Global CFO Council, CEOs on the frontline of the economy known as the Young Presidents Organization -- and the states themselves. Connecticut placed 37th overall of the 50 states. (See a breakdown of scores below or by clicking here.)  States received points based on their ran…

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by Jon Craig
Lifestyle
New TV Crime Show 'Deadly Rich' Will Spotlight Area Murder Case New TV Crime Show 'Deadly Rich' Will Spotlight Area Murder Case
New TV Crime Show 'Deadly Rich' Will Spotlight Area Murder Case One of the most infamous murder cases in area history will be back in the spotlight as CNBC debuts its newest original series, “Deadly Rich,” which will delve into the notorious murders of Ben Novack, Jr. and his mother Bernice Novack nine years ago. Ben Novack Jr., 52, a convention business owner and heir to the famous Fontainebleau hotel in Miami Beach, was found beaten to death in his hotel suite at the Rye Town Hilton on July 12, 2009. Earlier that year, his 86-year-old mother was attacked and killed at her home in Fort Lauderdale. A year after Novack Jr.'s death, police charged his wif…

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by Zak Failla