President Trump met with trade team at White House amid tweetstorm that rocked markets

France opens probe of possible crimes linked to Jeffrey EpsteinEpstein, a former friend of Presidents Donald Trump and Bill Clinton, was arrested by FBI agents in New Jersey in early July as he stepped off his private plane, which had… Politicsread more


France opens probe of possible crimes linked to Jeffrey EpsteinEpstein, a former friend of Presidents Donald Trump and Bill Clinton, was arrested by FBI agents in New Jersey in early July as he stepped off his private plane, which had… Politicsread more
President Trump met with trade team at White House amid tweetstorm that rocked markets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: thomas franck
Keywords: news, cnbc, companies, possible, linked, jersey, rocked, trump, tweetstorm, trade, markets, presidents, plane, opens, private, house, stepped, team, white, met, president, probe


President Trump met with trade team at White House amid tweetstorm that rocked markets

France opens probe of possible crimes linked to Jeffrey Epstein

Epstein, a former friend of Presidents Donald Trump and Bill Clinton, was arrested by FBI agents in New Jersey in early July as he stepped off his private plane, which had…

Politics

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Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: thomas franck
Keywords: news, cnbc, companies, possible, linked, jersey, rocked, trump, tweetstorm, trade, markets, presidents, plane, opens, private, house, stepped, team, white, met, president, probe


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Facebook is hiring journalists to curate its news tab

The Facebook logo is displayed during the F8 Facebook Developers conference on April 30, 2019 in San Jose, California. Facebook confirmed on Tuesday it’s hiring a team of veteran journalists to help curate stories in its soon-to-launch news tab. The content will appear in the top news section of the tab, a new feature that’s scheduled to launch this fall. Facebook isn’t the only tech company that is increasingly relying on professionals to curate what news its users see. Apple assembled a team o


The Facebook logo is displayed during the F8 Facebook Developers conference on April 30, 2019 in San Jose, California. Facebook confirmed on Tuesday it’s hiring a team of veteran journalists to help curate stories in its soon-to-launch news tab. The content will appear in the top news section of the tab, a new feature that’s scheduled to launch this fall. Facebook isn’t the only tech company that is increasingly relying on professionals to curate what news its users see. Apple assembled a team o
Facebook is hiring journalists to curate its news tab Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: annie palmer
Keywords: news, cnbc, companies, facebook, hiring, team, site, appear, content, curate, company, tab, users, journalists


Facebook is hiring journalists to curate its news tab

The Facebook logo is displayed during the F8 Facebook Developers conference on April 30, 2019 in San Jose, California.

Facebook confirmed on Tuesday it’s hiring a team of veteran journalists to help curate stories in its soon-to-launch news tab.

The company confirmed the plans after The New York Times reported that Facebook is bringing human curators on board instead of just relying on algorithms to determine what stories its users see.

A small team of editors will be charged with selecting the most relevant national news stories of the day. The content will appear in the top news section of the tab, a new feature that’s scheduled to launch this fall.

The team will curate breaking news and top stories, but won’t be responsible for other editorial duties, such as editing headlines, stories or writing content, the company said.

Other content in the news tab will primarily appear via algorithmic selection. Facebook said it will look to user controls, what pages users follow, publishers they subscribe to and the news they interact with as signals for what kinds of personalized news will populate the news tab.

“Our goal with the News Tab is to provide a personalized, highly relevant experience for people,” Campbell Brown, Facebook’s head of news partnerships, said in a statement. “The majority of stories people will see will appear in the tab via algorithmic selection.”

“To start, for the Top News section of the tab we’re pulling together a small team of journalists to ensure we’re highlighting the right stories,” she said.

The social media giant has approached several news outlets, including The Washington Post and Bloomberg, to discuss paying them as much as $3 million per year to license content, according to The Wall Street Journal.

Facebook emphasized that the news tab is not a reincarnation of the company’s now-defunct trending topics news section, which ranked news topics and links based on popularity.

The feature attracted scrutiny after controversial links and false headlines made their way onto the section. In 2016, a Gizmodo article alleged some independent contractors hired to moderate the section frequently suppressed conservative stories and stories about Facebook itself.

Just on Tuesday, a GOP-led interim report analyzing claims of liberal bias on the platform said Facebook still has a lot of work to do to win the trust of conservative users

The news tab marks Facebook’s latest effort to tackle news curation and combat the spread of misinformation on its site. The company has been under pressure to curb false news on the platform since the 2016 presidential election, during which foreign actors used the site to sow division around social issues.

Facebook isn’t the only tech company that is increasingly relying on professionals to curate what news its users see. Apple assembled a team of former journalists to help select some of the stories that appear in Apple News, while LinkedIn has also hired editors to curate content on the site.


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: annie palmer
Keywords: news, cnbc, companies, facebook, hiring, team, site, appear, content, curate, company, tab, users, journalists


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Republican-led report finds Facebook has ‘significant work’ to earn conservatives’ trust

Facebook has a lot of work to do to win the trust of conservative users, an interim report analyzing claims of liberal bias on the platform said Tuesday. But there is still significant work to be done to satisfy the concerns we heard from conservatives,” the report said. Kyl and the team interviewed more than 130 conservative groups, individuals and lawmakers who “use, study, or have the potential to regulate Facebook,” according to the report. Conservatives interviewed told the team they feared


Facebook has a lot of work to do to win the trust of conservative users, an interim report analyzing claims of liberal bias on the platform said Tuesday. But there is still significant work to be done to satisfy the concerns we heard from conservatives,” the report said. Kyl and the team interviewed more than 130 conservative groups, individuals and lawmakers who “use, study, or have the potential to regulate Facebook,” according to the report. Conservatives interviewed told the team they feared
Republican-led report finds Facebook has ‘significant work’ to earn conservatives’ trust Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: lauren feiner
Keywords: news, cnbc, companies, work, facebook, concerns, trust, interviewed, report, finds, facebooks, team, republicanled, conservatives, conservative, content, bias, earn, significant


Republican-led report finds Facebook has 'significant work' to earn conservatives' trust

Facebook founder and CEO Mark Zuckerberg arrives to testify following a break during a Senate Commerce, Science and Transportation Committee and Senate Judiciary Committee joint hearing about Facebook on Capitol Hill in Washington, DC.

Facebook has a lot of work to do to win the trust of conservative users, an interim report analyzing claims of liberal bias on the platform said Tuesday.

As a result of the review by Sen. Jon Kyl, R-Ariz., and a team at law firm Covington & Burling, Facebook said it would commit to taking steps to be more transparent about how it ranks News Feed content and enforces community standards.

The report said the company has adjusted its “sensational” advertising policy to pull back restrictions on anti-abortion ads showing medical tubes connected to human bodies.

“Facebook has recognized the importance of our assessment and has taken some steps to address the concerns we uncovered. But there is still significant work to be done to satisfy the concerns we heard from conservatives,” the report said.

Kyl and the team interviewed more than 130 conservative groups, individuals and lawmakers who “use, study, or have the potential to regulate Facebook,” according to the report. The review revealed several categories in which conservatives have expressed concerns about bias, including Facebook’s advertising policies and enforcement and its content distribution and algorithms.

Conservatives interviewed told the team they feared algorithms that prioritize user content do so “in ways that suppress their viewpoints.” Several pointed to Facebook’s algorithm change in 2018 that favored content from users’ friends and families, arguing it also disproportionately limited the reach of conservative news content. Interviewees from mid-size grassroots organizations told the team that Facebook’s appeals process for content moderation decisions were too opaque.

Interviewees also raised concerns about Facebook having a hate speech policy, saying the notion is highly subjective. Many also said Facebook relies too heavily on “left-leaning organizations to identify hate groups.”

Many conservatives interviewed ultimately said the problems they see on Facebook likely stem from employees biased against their viewpoints.

While Kyl’s team began interviewing conservatives in May 2018, the results come as allegations of conservative bias against the company have continued to bubble up. Executives from Facebook and other tech platforms including Google and Twitter have had to face lawmakers in recent months to defend their content moderation and distribution practices. Sen. Josh Hawley, R-Mo., has even introduced legislation tying legal protections for tech companies to voluntary audits that would assess whether their platforms’ algorithms and content removal practices are “politically neutral.”

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WATCH: Why Facebook’s business model is only now coming under fire


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: lauren feiner
Keywords: news, cnbc, companies, work, facebook, concerns, trust, interviewed, report, finds, facebooks, team, republicanled, conservatives, conservative, content, bias, earn, significant


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President Obama’s high school basketball jersey sold for $120,000 this weekend in online auction

23 high school basketball jersey believed to have been worn by former President Barack Obama as a student in Honolulu, and the yearbook pictured, sold this weekend in an online auction. 23 jersey, still being used by the team, while playing junior varsity basketball. The authentication process took longer than usual, given this is a high school jersey and the auction house is more accustomed to handling professional apparel. Ivy says the auction house is very confident in the uniform’s authentic


23 high school basketball jersey believed to have been worn by former President Barack Obama as a student in Honolulu, and the yearbook pictured, sold this weekend in an online auction. 23 jersey, still being used by the team, while playing junior varsity basketball. The authentication process took longer than usual, given this is a high school jersey and the auction house is more accustomed to handling professional apparel. Ivy says the auction house is very confident in the uniform’s authentic
President Obama’s high school basketball jersey sold for $120,000 this weekend in online auction Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: elizabeth gravier
Keywords: news, cnbc, companies, school, punahou, weekend, president, worn, high, obamas, 23, obama, wore, basketball, jersey, team, sold, auction, online


President Obama's high school basketball jersey sold for $120,000 this weekend in online auction

The No. 23 high school basketball jersey believed to have been worn by former President Barack Obama as a student in Honolulu, and the yearbook pictured, sold this weekend in an online auction. Photo courtesy of Heritage Auctions

Noble was three years behind Obama at Punahou and wore the same No. 23 jersey, still being used by the team, while playing junior varsity basketball. When the team ordered new uniforms, he saved the jersey he had worn, which bore the lucky number famously worn by Michael Jordan and Lebron James. It was only later that he made the connection to Obama. “Peter worked for the athletic department during summers, and the only reason he kept this particular jersey was because he wore No. 23 on the JV team,” Ivy says. “He kept it and then many decades later he saw a picture of President Obama, they put up a picture of him playing basketball at Punahou, and he noticed it was the same No. 23 that he had in his closet and put two [and] two together.” The authentication process took longer than usual, given this is a high school jersey and the auction house is more accustomed to handling professional apparel. To verify the item, the auction house used several methods, including photo matching to line up comparisons with what Obama wore (representatives also reached out to Obama, but received no reply.) Ivy says the auction house is very confident in the uniform’s authenticity, and it’s auction site listed it boldly as “the most important basketball jersey that exists.”

A No. 23 high school basketball jersey believed to have been worn by former President Barack Obama during his senior year at Punahou School in Honolulu. Photo courtesy of Heritage Auctions


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: elizabeth gravier
Keywords: news, cnbc, companies, school, punahou, weekend, president, worn, high, obamas, 23, obama, wore, basketball, jersey, team, sold, auction, online


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Joseph Tsai buys Barclays Center, becomes sole owner of Brooklyn Nets

Brooklyn Nets owner Mikhail Prokhorov has agreed to sell full ownership of Barclays Center and his 51% controlling interest in the Nets to Alibaba co-founder Joseph Tsai. “It has been an honor and a joy to open Barclays Center, bring the Nets to Brooklyn, and watch them grow strong roots in the community while cultivating global appeal,” said Prokhorov in a press release. The purchase makes Tsai, who previously owned 49% of the basketball team, the sole owner of the Nets. The current NBA sales r


Brooklyn Nets owner Mikhail Prokhorov has agreed to sell full ownership of Barclays Center and his 51% controlling interest in the Nets to Alibaba co-founder Joseph Tsai. “It has been an honor and a joy to open Barclays Center, bring the Nets to Brooklyn, and watch them grow strong roots in the community while cultivating global appeal,” said Prokhorov in a press release. The purchase makes Tsai, who previously owned 49% of the basketball team, the sole owner of the Nets. The current NBA sales r
Joseph Tsai buys Barclays Center, becomes sole owner of Brooklyn Nets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: elijah shama
Keywords: news, cnbc, companies, tsai, record, nets, center, team, global, prokhorov, brooklyn, joseph, owner, barclays, purchase, sole, buys


Joseph Tsai buys Barclays Center, becomes sole owner of Brooklyn Nets

Brooklyn Nets owner Mikhail Prokhorov has agreed to sell full ownership of Barclays Center and his 51% controlling interest in the Nets to Alibaba co-founder Joseph Tsai.

“It has been an honor and a joy to open Barclays Center, bring the Nets to Brooklyn, and watch them grow strong roots in the community while cultivating global appeal,” said Prokhorov in a press release.

“The team is in a better place today than ever before and I know that Joe will build on that success, while continuing to deliver the guest experience at Barclays Center that our fans, employees, and colleagues in the industry enjoy.”

The purchase makes Tsai, who previously owned 49% of the basketball team, the sole owner of the Nets.

Rachel Lewis, a spokesperson for BSE global declined to comment on the price of the sale, but the team is reportedly valued at a record $2.35 billion.

The current NBA sales record came last year after hedge fund owner David Tepper acquired the NFL’s Carolina Panthers for $2.2 billion. Tilman Fertitta, owner of restaurant chain Landry’s, also paid $2.2 billion to purchase the NBA’s Houston Rockets in 2017.


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: elijah shama
Keywords: news, cnbc, companies, tsai, record, nets, center, team, global, prokhorov, brooklyn, joseph, owner, barclays, purchase, sole, buys


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Mediation between US women’s team and US Soccer fall apart—now the two sides may face off in court

Megan Rapinoe #15 of the United States the United States international friendly match against Ireland at the Rose Bowl on August 3, 2019 in Pasadena, California. The United States won the match 3-0. In the midst of a five-game victory tour following their World Cup win, the U.S. Women’s National Soccer Team (USWNT) is also preparing for the 2020 Olympics and engaged in a heated legal battle with the U.S. Soccer Federation (USSF) for equal pay. Now, representatives for the team say they have left


Megan Rapinoe #15 of the United States the United States international friendly match against Ireland at the Rose Bowl on August 3, 2019 in Pasadena, California. The United States won the match 3-0. In the midst of a five-game victory tour following their World Cup win, the U.S. Women’s National Soccer Team (USWNT) is also preparing for the 2020 Olympics and engaged in a heated legal battle with the U.S. Soccer Federation (USSF) for equal pay. Now, representatives for the team say they have left
Mediation between US women’s team and US Soccer fall apart—now the two sides may face off in court Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: abigail hess
Keywords: news, cnbc, companies, states, team, uswnt, womens, court, players, ussf, mediation, soccer, equal, representatives, sides, united, apartnow, fall, face


Mediation between US women's team and US Soccer fall apart—now the two sides may face off in court

Megan Rapinoe #15 of the United States the United States international friendly match against Ireland at the Rose Bowl on August 3, 2019 in Pasadena, California. The United States won the match 3-0.

In the midst of a five-game victory tour following their World Cup win, the U.S. Women’s National Soccer Team (USWNT) is also preparing for the 2020 Olympics and engaged in a heated legal battle with the U.S. Soccer Federation (USSF) for equal pay. Now, representatives for the team say they have left a mediation process meant to avoid an appearance in federal court. “We entered this week’s mediation with representatives of USSF full of hope. Today, we must conclude these meetings sorely disappointed in the Federation’s determination to perpetuate fundamentally discriminatory workplace conditions and behavior,” Molly Levinson, a spokesperson for the USWNT says in a statement shared with CNBC Make It. “It is clear that USSF, including its Board of Directors and President Carlos Cordeiro, fully intend to continue to compensate women players less than men. They will not succeed. We want all of our fans, sponsors, peers around the world, and women everywhere to know we are undaunted and will eagerly look forward to a jury trial.”

The USWNT observe a moment of silence prior to the United States international friendly match against Ireland at the Rose Bowl on August 3, 2019 in Pasadena, California. The United States won the match 3-0. Shaun Clark/Getty Images

According to The New York Times, representatives agreed to meet in secret in New York this week for mediation sessions that “were to be the most substantive face-to-face discussions between the team and the federation about equal pay and other workplace issues since they hammered out the details of the players’ current collective bargaining agreement in April 2017. ” After saying it would make no statements to the media about mediation, U.S. Soccer responded within hours, according to the Times, with its own statement. “We have said numerous times that our goal is to find a resolution, and during mediation we had hoped we would be able to address the issues in a respectful manner and reach an agreement,” U.S. Soccer said. “Unfortunately, instead of allowing mediation to proceed in a considerate manner, plaintiffs’ counsel took an aggressive and ultimately unproductive approach that follows months of presenting misleading information to the public in an effort to perpetuate confusion.” The volley is just the most recent in a dispute that has spanned years. In 2016, five U.S. women’s players filed a discrimination complaint with the Equal Employment Opportunity Commission (EEOC), and in March, 28 members of the U.S. Women’s National Soccer Team filed a lawsuit against the U.S. Soccer Federation for gender discrimination and unequal pay. But in June, sources confirmed that the team “tentatively” agreed to enter mediation with USSF after the World Cup ended, and as recently as Monday, the team felt optimistic about the mediation process. “In the coming days, we will sit down with representatives of USSF to discuss equal pay and equal working conditions, and we are full of hope. We believe that this conversation with USSF is a singular opportunity to resolve our differences and to move forward together, unified,” read a letter signed by USWNT players on August 12th.


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: abigail hess
Keywords: news, cnbc, companies, states, team, uswnt, womens, court, players, ussf, mediation, soccer, equal, representatives, sides, united, apartnow, fall, face


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Equinox chief to members: ‘I’m sorry for the impact’ of Trump fundraiser ‘on our community’

That gathering, along with another Hamptons fundraiser, raked in about $12 million, RNC Chair Ronna McDaniel said in a tweet Friday. Equinox and SoulCycle issued a joint statement last week saying, “As is consistent with our policies, no company profits are used to fund politicians. Read the entire letter from Harvey Spevak:To our Equinox Community -The last week has been difficult for all. I am sorry for the impact it has had on our community – and I’m sorry we haven’t said more. I’m proud that


That gathering, along with another Hamptons fundraiser, raked in about $12 million, RNC Chair Ronna McDaniel said in a tweet Friday. Equinox and SoulCycle issued a joint statement last week saying, “As is consistent with our policies, no company profits are used to fund politicians. Read the entire letter from Harvey Spevak:To our Equinox Community -The last week has been difficult for all. I am sorry for the impact it has had on our community – and I’m sorry we haven’t said more. I’m proud that
Equinox chief to members: ‘I’m sorry for the impact’ of Trump fundraiser ‘on our community’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: jordan mcdonald
Keywords: news, cnbc, companies, team, values, community, week, impact, sorry, company, members, worked, chief, million, support, fundraiser, im, trump, equinox


Equinox chief to members: 'I'm sorry for the impact' of Trump fundraiser 'on our community'

That gathering, along with another Hamptons fundraiser, raked in about $12 million, RNC Chair Ronna McDaniel said in a tweet Friday.

As news of the Ross fundraiser trickled out, it spurred waves of member cancellations and outcry from celebrities like Chrissy Teigen and Billy Eichner.

“There are a handful of billionaires who own everything and many support Trump,” Eichner wrote on Twitter. “Practically speaking, it’s probably impossible to completely avoid them. But considering @Equinox’s clientele and how they’ve pandered to us, this one feels particularly hypocritical and shameful.”

Equinox and SoulCycle issued a joint statement last week saying, “As is consistent with our policies, no company profits are used to fund politicians. We are committed to all our members and the communities we live in. We believe in tolerance and equality, and will always stay true to those values.”

Read the entire letter from Harvey Spevak:

To our Equinox Community –

The last week has been difficult for all. I am sorry for the impact it has had on our community – and I’m sorry we haven’t said more. We have not been ignoring the situation. I have been in our clubs listening to our teams and members. I really appreciate the open and honest feedback I received. It’s been heartfelt and, in many instances, emotional. I’m proud that even during this difficult time our community is one that listens and respects each other.

Many of you have asked for clarification on Stephen Ross’s investment in Equinox. Mr. Ross is not the majority investor in Equinox. He is one of the investors including myself. He does not run the company. I do. I am the Executive Chairman of Equinox and have led the vision and strategic direction of the company since I joined in 1999. Our focus has always been about building a community centered on our values, not politics.

When I joined Equinox over 20 years ago, I worked with our then small team to create values that would guide us forward. They are the foundation of our culture, a culture based on equality, diversity, inclusivity, integrity, empathy and mutual respect. A community where everyone is welcome.

We live our values every day, which means giving back to the communities that have given us so much. We have helped Cycle for Survival raise $42 million for rare cancer research this year alone. We have trained injured veterans returning from war zones to climb the seven highest summits through The Heroes Project. We have partnered with Move for Minds to raise funds and awareness around brain health and women-based Alzheimer’s research. We have worked with The Felix Organization, a charity focused on enriching lives of children in foster care. And we have been a proud partner of House Lives Matter, supporting the House Ballroom Community comprised of sexual and gender minority people of color (LGBTQ and gender non-conforming). Every one of these commitments was started with a single idea reflecting the priorities of our members and employees.

While I don’t have all the answers, what we have heard from many of you is that you would like Equinox to immediately help amplify your voice in support of causes we as a community have always held close. As a next step, Equinox will make a $1 million donation to benefit the five charities mentioned above. From August 17 through August 31, every check-in will be an opportunity for our members and employees to select how our donation will be allocated among the causes.

I want to thank our amazing team and all they do in service of you, our members. It pains me to see how this has been impacting them and I am truly grateful for their commitment, passion and dedication. We will continue to listen to your thoughts and ideas, and while we have a lot of work to do, I am confident that together we will come out a stronger community.

With gratitude,

Harvey Spevak

EQUINOX | Executive Chairman, Managing Partner


Company: cnbc, Activity: cnbc, Date: 2019-08-15  Authors: jordan mcdonald
Keywords: news, cnbc, companies, team, values, community, week, impact, sorry, company, members, worked, chief, million, support, fundraiser, im, trump, equinox


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Alibaba’s Joseph Tsai to buy Brooklyn Nets in deal valuing team at record $2.35 billion, media reports

12 of the Brooklyn Nets shoots against Fred VanVleet No. 23 of the Toronto Raptors at Barclays Center on April 3, 2019 in Brooklyn, New York. Joseph Tsai, the billionaire co-founder of e-commerce giant Alibaba, is in talks to buy the remaining 51% of the Brooklyn Nets basketball team from Russian billionaire Mikhail Prokhorov, according to The New York Post. Tilman Fertitta, owner of restaurant chain Landry’s, also paid $2.2 billion to purchase the NBA’s Houston Rockets in 2017. Stuart Bryan, a


12 of the Brooklyn Nets shoots against Fred VanVleet No. 23 of the Toronto Raptors at Barclays Center on April 3, 2019 in Brooklyn, New York. Joseph Tsai, the billionaire co-founder of e-commerce giant Alibaba, is in talks to buy the remaining 51% of the Brooklyn Nets basketball team from Russian billionaire Mikhail Prokhorov, according to The New York Post. Tilman Fertitta, owner of restaurant chain Landry’s, also paid $2.2 billion to purchase the NBA’s Houston Rockets in 2017. Stuart Bryan, a
Alibaba’s Joseph Tsai to buy Brooklyn Nets in deal valuing team at record $2.35 billion, media reports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: elijah shama
Keywords: news, cnbc, companies, tsai, brooklyn, buy, paid, joseph, valuing, nets, york, deal, team, owner, reports, record, billion, media, remaining, billionaire


Alibaba's Joseph Tsai to buy Brooklyn Nets in deal valuing team at record $2.35 billion, media reports

Joe Harris No. 12 of the Brooklyn Nets shoots against Fred VanVleet No. 23 of the Toronto Raptors at Barclays Center on April 3, 2019 in Brooklyn, New York.

Joseph Tsai, the billionaire co-founder of e-commerce giant Alibaba, is in talks to buy the remaining 51% of the Brooklyn Nets basketball team from Russian billionaire Mikhail Prokhorov, according to The New York Post.

The deal, which is expected to be announced this week, would value the team at $2.35 billion, according to unnamed sources cited by the New York Post.

If approved, it would be the highest price ever paid for a sports franchise. The current record came last year after hedge fund owner David Tepper acquired the NFL’s Carolina Panthers for $2.2 billion. Tilman Fertitta, owner of restaurant chain Landry’s, also paid $2.2 billion to purchase the NBA’s Houston Rockets in 2017.

Stuart Bryan, a spokeswoman for BSE Global, which manages and controls the Brooklyn Nets, declined to comment. CNBC couldn’t verify the details of the deal.

Tsai already owns 49% of the Nets, which he bought for $1 billion in 2017. At that time, the 55-year-old businessman locked in the right to buy the remaining 51% of the team before the within four years for an additional $1.35 billion, Bloomberg News reported at the time.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: elijah shama
Keywords: news, cnbc, companies, tsai, brooklyn, buy, paid, joseph, valuing, nets, york, deal, team, owner, reports, record, billion, media, remaining, billionaire


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This woman sold her app for $85 million — here’s the common mistake she sees in start-ups

Mette LykkeBuilding a high-value business takes patience and entrepreneurs shouldn’t believe that start-ups reach multi-million-dollar valuations overnight, a successful Danish businesswoman has warned. When it comes to growing a start-up, Mette Lykke, CEO of food waste organization Too Good To Go, speaks from experience. Endomondo was sold to the U.S. athleticwear brand in 2015 for $85 million, and Lykke stayed on as its CEO until 2017. “My first company was designed to make fitness fun, and no


Mette LykkeBuilding a high-value business takes patience and entrepreneurs shouldn’t believe that start-ups reach multi-million-dollar valuations overnight, a successful Danish businesswoman has warned. When it comes to growing a start-up, Mette Lykke, CEO of food waste organization Too Good To Go, speaks from experience. Endomondo was sold to the U.S. athleticwear brand in 2015 for $85 million, and Lykke stayed on as its CEO until 2017. “My first company was designed to make fitness fun, and no
This woman sold her app for $85 million — here’s the common mistake she sees in start-ups Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: chloe taylor
Keywords: news, cnbc, companies, really, sees, mistake, app, food, business, sold, common, waste, team, 85, company, woman, startups, works, purpose, heres, lykke, work, million


This woman sold her app for $85 million — here's the common mistake she sees in start-ups

Mette Lykke

Building a high-value business takes patience and entrepreneurs shouldn’t believe that start-ups reach multi-million-dollar valuations overnight, a successful Danish businesswoman has warned. When it comes to growing a start-up, Mette Lykke, CEO of food waste organization Too Good To Go, speaks from experience. She co-founded fitness app Endomondo in 2007, developing the company for almost a decade before it gained enough interest to be acquired by American firm Under Armour. Endomondo was sold to the U.S. athleticwear brand in 2015 for $85 million, and Lykke stayed on as its CEO until 2017.

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According to Lykke, who began her career as a management consultant, a business can only experience vast growth rates if the people at its reins exercise what she calls “patient impatience.” “Every day you have to push (yourself) and you have to be willing to do that for quite a while,” she said. “I think a lot of stories about start-ups give the impression that two guys start a company in a basement and boom, two years later they change the world. That’s just not how it works – it takes years, so working hard every day is crucial.”

Be clear on your purpose

For the past two years, Lykke has been the CEO of Too Good To Go — an organization that works with restaurants and food retailers to tackle waste by selling food at a discounted price. The app has 11 million users and works with 22,000 stores across 11 countries. Her involvement with the company began around 9 months after the service was launched, when a friend who knew its founders showed her the app. “I thought it was such a cool concept,” she told CNBC. “I got invited to invest and then was asked to help the founders run the business.” She said her core driving force when it came to work was being part of a company that had a strong purpose and could make a real impact. “I work a lot and put everything into it, so I want to do something that really matters,” she explained. “My first company was designed to make fitness fun, and now I have an even stronger purpose in tackling food waste. I just hadn’t realized the scale of this problem, but it had always been natural to me not to throw away food.” Entrepreneurs looking to grow a company needed to follow her lead and work on something that they felt was meaningful, Lykke added. “Make sure you’re really, really passionate about what you do — that’s fundamental,” she said. “There are going to be days and nights where, if you don’t have that passion, it’s going to be too difficult.”

As well as being passionate about their business, start-up founders needed to build a team who believed in the purpose of the company. “Being clear about the company’s vision is important, (but) the people you find for your team need to believe what you believe — it’s important to establish that team really early on,” Lykke told CNBC. She noted that having a strong ethical purpose was also a big competitive advantage, helping to attract both talented employees and investors.

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Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: chloe taylor
Keywords: news, cnbc, companies, really, sees, mistake, app, food, business, sold, common, waste, team, 85, company, woman, startups, works, purpose, heres, lykke, work, million


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Microsoft poaches Samsung’s chief medical officer to join its growing health team

Microsoft has snapped up David Rhew from Samsung Electronics, where he worked as a chief medical officer overseeing the company’s health efforts in the U.S.Rhew will be Microsoft’s new chief medical officer and work with a burgeoning health care team at Microsoft under its corporate vice president Peter Lee, the company announced in a blog post. Another key hire with a medical background is Jim Weinstein, who previously worked as the CEO of Dartmouth-Hitchcock’s health system. Microsoft started


Microsoft has snapped up David Rhew from Samsung Electronics, where he worked as a chief medical officer overseeing the company’s health efforts in the U.S.Rhew will be Microsoft’s new chief medical officer and work with a burgeoning health care team at Microsoft under its corporate vice president Peter Lee, the company announced in a blog post. Another key hire with a medical background is Jim Weinstein, who previously worked as the CEO of Dartmouth-Hitchcock’s health system. Microsoft started
Microsoft poaches Samsung’s chief medical officer to join its growing health team Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: christina farr
Keywords: news, cnbc, companies, care, growing, chief, announced, join, samsungs, worked, health, medical, team, poaches, microsoft, officer, working, samsung, company


Microsoft poaches Samsung's chief medical officer to join its growing health team

Microsoft has snapped up David Rhew from Samsung Electronics, where he worked as a chief medical officer overseeing the company’s health efforts in the U.S.

Rhew will be Microsoft’s new chief medical officer and work with a burgeoning health care team at Microsoft under its corporate vice president Peter Lee, the company announced in a blog post.

Microsoft in the spring snapped up Google Cloud’s health lead Greg Moore. The company previously recruited Josh Mandel from Alphabet’s life sciences group, Verily. Another key hire with a medical background is Jim Weinstein, who previously worked as the CEO of Dartmouth-Hitchcock’s health system.

Microsoft started dipping its toe in the health care sector more than a decade ago, under a previous team led by veteran technologist Peter Neupert. It has been more transparent about its priorities than some of its competitors, such as Amazon and Alphabet, which involve selling cloud services into health care and working on partnerships related to bringing AI technology to hospitals. It also has a research team working on earlier-stage projects in fields like genomics, as deriving insights from DNA requires huge computational capacity and storage.

In recent months, the company has also announced large partnerships with the health care industry to signal that it intends to team up with incumbents rather than disrupt them. It recently announced plans to work with the local health system Providence to build a “hospital of the future,” and it is working with Walgreens on new health care delivery models.

While at Samsung, Rhew’s focus has spanned a number of different areas, ranging from portable CT scanners, ultrasound machines, diagnostics products, research and development and wearable computing. Samsung competes most closely with Apple in the wearables space, and the two companies have been looking to one-up each other to add novel bio-sensors to their devices, such as electrocardiograms and blood pressure monitoring.

Rhew also has a background in clinical decision support and opening up access to medical data, which aligns closely with Microsoft. The company had a product for years, called HealthVault, which is now shuttering. It was designed to help consumers store their medical information. And it recently teamed up with competing tech companies on an effort to open up medical claims information, which has not been easily available to consumers in the past.

Follow @CNBCtech on Twitter for the latest tech industry news.


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: christina farr
Keywords: news, cnbc, companies, care, growing, chief, announced, join, samsungs, worked, health, medical, team, poaches, microsoft, officer, working, samsung, company


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