Peter Loconte

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Social media start-ups' value is enormous — if you trust investors

SAN FRANCISCO — Snapchat is not even 3 years old. It's run by a couple of twentysomethings with no prior business experience. And it has never made a cent.<p>Yet investors are fighting for the opportunity to throw hundreds of millions at the mobile messaging service that is all the rage with teens.<p>The …

Elon Musk: The Future Is Fully Electric

The CEO of SpaceX and Tesla Motors says the era of gasoline engines will soon look "quaint." He also divulges his idea for his next company.<p>If you subscribe to computer scientist Alan Kay's line of thinking that the best way to predict the future is to invent it, it's probably best to listen up …

Have Bitcoin To Burn? Next Stop Could Be The Farm

For food producers who sell directly to consumers, credit cards are both a blessing and a curse.<p>They're a way to do business with cashless customers, but 3 percent of every credit card sale is usually charged to the farmer as a transaction fee. That adds up in a high-volume, low-profit business …

Walmart to launch Black Friday sales earlier

As the holiday shopping season kicks off, Walmart is the latest major retailer to announce an even earlier launch to annual Black Friday weekend sales — beginning at dinnertime Thanksgiving evening.<p>Following a slew of similar announcements from stores including Target, Best Buy and Macy's, Walmart …

Wall Street CEOs Say It’s The Best of Times and The Worst of Times

Wall Street’s biggest names took to the stage on Tuesday to discuss the markets and the health of the financial industry, but their outlooks were …

Feds expand hunt for offshore tax evaders

Probe turns to another bank in Switzerland, and one based in Bermuda<p>U.S. authorities have widened their hunt for Americans suspected of evading taxes by hiding assets and income in offshore bank accounts.<p>Federal judges approved special summonses aimed at getting account data and identifying …

Feds sell $1.2 billion of GM stock, stake dwindles

Taxpayers are still $12.3 billion in the hole<p>The U.S. government sold another $1.2 billion worth of General Motors stock last month as it moves closer to selling its entire stake in the automaker. The government's stake as of Oct. 31 could be as low as 4%.<p>A report to Congress Tuesday said the …

Financial Times: Currency market probe widens

<b>A global investigation into alleged currency-market manipulation has been expanded to 15 of the world's biggest banks, the Financial Times says.</b><p>The probe now includes euro-dollar trading, the biggest part of the market, according to the London-based newspaper.<p>Last month Britain's Financial Conduct …

Merger of American Airlines and US Airways cleared for takeoff

American AirlinesandUS Airwaysmoved another step closer to creating the world's biggest carrier but had to make concessions to help ensure the deal wouldn't lead to service cuts and higher fares.<p>The<p>Justice Departmentsaid Tuesday the agency would back the $11-billion combination under an agreement …

Snapchat Is In Talks To Raise Money At A Whopping $3.6 Billion Valuation

This is coming just months after closing a Series B round of $60 million that valued the company at $800 million.<p>If this funding happens, Snapchat (with 200 million photos being shared daily) will become more valuable than Instagram when Facebook purchased it last year.<p>AllThingsD's sources said t …

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