Zillow (Z, ZG) will stop flipping homes, in a move that came just one day after Bloomberg reported that it was unloading 7,000 homes that it bought via its home-flipping business. The company, known for its online real estate listings, probably should have never ventured into home flipping, also known as iBuying, according to Barbara Corcoran, real estate veteran and “Shark Tank” host. Zillow started Zoom Offers, its iBuying service, in 2018 under the stewardship of CEO Richard Barton, who… Source link

Legendary investor Jeremy Grantham says US stocks are in a ‘magnificent bubble’ even crazier than in 1929 — here are 3 of his safe haven selections Jeremy Grantham, legendary investor and a pioneer of index fund investing, has added his voice to the chorus of financial wizards who expect today’s runaway stock market to soon hit the wall. Grantham recently told CNBC that equities in the U.S. are in a “magnificent bubble,” larger even than those in 1929 and 2000, which kicked off the… Source link

Uber’s recent tie-up with Hertz and Tesla on the electric vehicle front has garnered a good bit of attention (and market gains for Hertz and Tesla, in particular), but Lyft’s co-founder John Zimmer wants to remind everyone his company was first to pledge to an all-electric fleet future.  Zimmer reiterated in an interview on Yahoo Finance Live on Wednesday a commitment to have an all-electric fleet by 2030. The company is in active discussions with the major automakers to bring EVs to its… Source link

Three years after an employee revolt forced Google to abandon work on a Pentagon program that used artificial intelligence, the company is aggressively pursuing a major contract to provide its technology to the military. The company’s plan to land the potentially lucrative contract, known as the Joint Warfighting Cloud Capability, could raise a furor among its outspoken work force and test the resolve of management to resist employee demands. In 2018, thousands of Google employees signed a… Source link

The Federal Reserve on Wednesday said it would start slowing its pace of asset purchases, the first step in paring back its COVID-era easy money policies. “In light of the substantial further progress the economy has made toward the committee’s goals since last December, the Committee decided to begin reducing the monthly pace of its net asset purchases,” the policy-setting Federal Open Market Committee said in its updated policy statement Wednesday. Since the depths of the pandemic, the… Source link

Google achieved two new public-sector authorizations that insiders say will prove instrumental in their work helping the government modernize its information technology, security and compliance. On the heels of a long and complex engineering effort, the Google Workspace product reached FedRAMP High authorization, officials announced Wednesday, and the tech giant also earned an Impact Level 4, or IL4, designation from the Defense Information Systems Agency. “Our approach has been different… Source link

This article was first featured in Yahoo Finance Tech, a weekly newsletter highlighting our original content on the industry. Get it sent directly to your inbox every Wednesday by 4 p.m. ET. Subscribe Wednesday, November 3, 2021 Meta’s metaverse could track you more than you ever imagined Facebook is now Meta (FB), reflecting its focus on building up the so-called metaverse — a future version of the internet that will let people interact with others in 3-D virtual worlds. But that doesn’t… Source link

We convene a roundtable of climate change reporters from Argentina, South Africa and the Philippines to hear about the stories top of mind on their beats — from sea level rise to drought — as world leaders meet for COP26 in Glasgow. And, Yahoo is pulling out of China. The company points to the increasingly challenging business and legal environment in China for those decisions.James Griffiths, author of “The Great Firewall of China,” joins us to discuss. Connect with us: … Source link

When a stock explodes 108% in a session — rather out of the blue — as Avis did on Wednesday, there is only one thing you should do, says Deutsche Bank analyst Chris Woronka. Drive out of dodge before you get run over.  “Our first order of business is to emphasize that this downgrade is not a call to short Avis. Simply put, it is a view that investors who owned the stock prior to Tuesday should take profits. We simply cannot justify, using any reasonable traditional valuation metric, the… Source link

The digital world is constantly evolving—Facebook is Meta now!—yet internet search remains a magic box where we type questions and answers just appear on the screen. Critics say this disconnect has led to cluttered design, ads camouflaged as search results, even a search algorithm that some say shows signs of wear: ProPublica reporter Jesse Eisinger recently tweeted he thinks Google searches have gotten “significantly worse,” and he got 1,000 likes and nods of agreement from everyone… Source link