Marijuana grower Tilray soars more than 20% after Peter Thiel-backed fund says it won’t sell

Tilray popped more than 20 percent Friday after its largest shareholder, a private equity fund backed by Peter Thiel, said it will not sell any of its remaining stake following the expiration of the marijuana grower’s IPO lock-up period next week. “Privateer Holdings strongly believes in Tilray’s long-term global growth …

Fed Chairman Powell says he is ‘very worried’ about growing amount of U.S. debt

Federal Reserve Chairman Jerome Powell is “very worried” about the ballooning amount of United States debt. “I’m very worried about it,” Powell said at The Economic Club of Washington, D.C. “From the Fed’s standpoint, we’re really looking at a business cycle length: that’s our frame of reference. The long-run fiscal, …

Stocks gain under the ‘first five days’ rule, setting up for a good 2019 performance

When stocks bounce at the beginning of the year, history shows the market is more often up than down at year-end. Therefore, this year’s early January performance could be a good omen. Stocks finished Tuesday with a gain, with the S&P 500 up 2.6 percent at 2,574, in the first …

Rio Tinto completes rollout of world-first autonomous iron ore rail operation

Rio Tinto has completed the rollout of its automated rail network in the Pilbara, Western Australia, which is the first heavy-haul, long distance autonomous rail operation in the world. The $940 million rail project, titled AutoHaul, focuses on automating trains to transport iron between Rio Tinto’s various port facilities in …

The $35 billion race to cure a silent killer that affects 30 million Americans

At the Mayo Clinic in Jacksonville, Florida, the liver transplant group is busy handling an onslaught of patients who have come from all over the country in hopes of a chance at life. For many, a liver transplant is their last hope, after being diagnosed with a deadly disease sweeping …

Netflix stops paying the ‘Apple tax’ on its $853M in annual iOS revenue

Earlier this year, Netflix was seen testing a bypass of iTunes billing across dozens of markets worldwide. As 2018 draws to a close, Netflix — the App Store’s top grossing app — has ditched the ability for new users to sign up and subscribe to the streaming service within its …

A $9 trillion corporate debt bomb is ‘bubbling’ in the US economy

At first glance, it looks like a $9 trillion time bomb is ready to detonate, a corporate debt load that has escalated thanks to easy borrowing terms and a seemingly endless thirst from investors. On Wall Street, though, hopes are fairly high that it’s a manageable problem, at least for …

Tesla is weeks away from hitting 7,000-Model 3’s-per-week production milestone

Tesla Inc. CEO Elon Musk is pushing his factory workers in Fremont to consistently produce 7,000 Model 3 sedans per week by the end of November, according to an internal email obtained by Electrek. Musk said he planned to walk the entire Model 3 production line on Nov. 27 and …