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Bitcoin and flying cars! Cryptocurrency and futuristic transport are two areas in which humankind is leaping into the unknown. Today, Bloomberg launches two new web verticals that delve into what’s shaping those new worlds. Crypto examines how cryptocurrencies and blockchain are redefining finance and technology. Hyperdrive explores what’s next for transportation, from electric vehicles to the commercialization of space travel.—Katie Robertson
President Donald Trump has decided to allow publication of a Republican memo alleging the FBI abused its powers in the probe of potential collusion by his campaign with the Russian government, ratcheting up partisan warfare over Special Counsel Robert Mueller’s investigation of the White House. Washington is in turmoil over the secret document. FBI Director Christopher Wray had urged Trump not to release it because it contained inaccuracies and a false narrative. Democrats say the memo is an effort by House Intelligence Chairman Devin Nunes, who worked on Trump's transition, to distract from the intensifying probe.
Can the end of the iPhone's reign be here? Apple reported sales from the crucial holiday period that missed analysts’ forecasts, suggesting waning demand for the smartphones. Fewer new handsets means Apple has to work harder to sell related services, accessories and other devices. The tech giant also forecast lower-than-expected revenue for the current quarter.
How GE went from American icon to astonishing mess. Famous for great management, General Electric is now staring down the barrel at a plunging share price, a federal investigation, and a possible breakup. And yet, little of this has to do with the stuff GE makes. Its jet engines dominate the global market and its turbines provide a third of the world’s electricity. So what happened?
Elon Musk stops taking flamethrower orders. It took the Tesla founder just four days to sell out of the 20,000 devices and do $10 million in sales, generating an unusual source of revenue for his Boring Co. tunneling business. Musk plans to build tunnels under parts of Los Angeles and the Baltimore-Washington Parkway. Maybe his new souvenir can help light the way.
Will your standing desk really help you lose weight? A new study shows you can lose up to 22 pounds—as long as you don’t sit down for four years. The researchers found that standing does, in fact, burn calories, just not that many: about 54 calories for a six-hour day of standing. That's a little more than the calories contained in an orange.
An air-taxi startup has a working prototype and a fresh $100 million. Joby Aviation can’t say when its air taxis will reach your neighborhood, but it’s got a $100 million vote of confidence from backers including Intel, Toyota, and JetBlue. Bloomberg Businessweek reporters traveled to a secretive private airfield to see the flying car prototype in action.
Dining at Salt Bae’s Nusr-Et, NYC’s most controversial new restaurant. Almost all the buzz about the restaurant from internet sensation chef Salt Bae has been negative. Bloomberg food editor Kate Krader couldn’t resist a vist, and writes that despite the overpriced meat, “when Salt Bae shows up to slice and season our steak, it’s embarrassingly thrilling, like watching your favorite cheesy movie.”