Streaming media company Roku will likely have an initial public offering before the end of the year, adding another public company to a crowded field. Rumors are Roku is worth about $1 billion
The Congressional Budget Office (CBO) reports that Trump will not be able to balance the U.S. budget for a decade based on the president’s current plans.
Online fantasy betting sites DraftKings and FanDuel will not merge as expected. Both have faced regulatory problems and rising marketing costs. It was assumed that the two very similar companies could save money by eliminating duplicate costs
Honda Motor Co. Ltd. (NYSE: HMC) recalled 1.2 million Accord models. According to the AP:
Honda is recalling 1.2 million Accord midsize cars in the U.S. because a battery sensor can short out and potentially cause a fire.
The recall covers cars from the 2013 through 2016 model years. Honda says it has four reports of engine compartment fires due to the problem but no injuries. All the fires were in states where salt is used to clear roads in the winter.
The company says the sensors on the negative terminal of the battery aren’t properly sealed from moisture. Road salt can get in and cause corrosion and an electrical short. A shorted sensor can heat up and possibly catch fire.
In a huge breakthrough in energy generation, China may harness the power of fusion within a decade. According to the South China Morning Post, as reported by CNBC:
Significant progress could be made on artificial sun technology by 2023 – and it could be used to generate clean energy for China in 50 to 60 years, a senior government nuclear scientist says.
Song Yuntao, a lead scientist on the country’s largest fusion energy project, told the official Science and Technology Daily on Thursday that they expected to double the burn time of man-made sun every 16 to 17 months.
Recode reports that the most visible candidates for the Uber CEO job will not take the role, nor will not be offered it:
Recode sources shot down many candidates floated in the media for Uber’s new CEO role, including Marissa Mayer, Arianna Huffington, Tom Staggs, Alan Mulally and Susan Wojcicki.