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American Business News for 17 Nov 2017

Buzzfeed's revenue to fall $70M short of target

New York Post - 17 Nov 2017 05:03
Buzzfeed's revenue to fallBuzzFeed's expected IPO is now expected to be MIA. The 11-year-old digital publisher once famous for lightweight "listicles" will likely push back plans to go public next year, as it has fallen... heavily behind projected revenue growth, according to a report on Thursday. Revenue in 2017 is expected to come in $70 million short of...
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Russia will never break its dependence on oil

Business Insider - 17 Nov 2017 04:00
Russia will never break itsREUTERS/Sergei Karpukhin Russia's economy is in clear need of diversification as it climbs out of a recession Wages and consumer spending are on the rise, but high oil prices will tempt the country to... place more emphasis on oil. Despite improving oil prices, Russia’s economic growth is slowing, with GDP rise for the third quarter at 1.8 percent on an annual basis, versus 2.5 percent for the second quarter, Russia’s state statistical bureau, Rosstat, said earlier this week. Analysts say it’s the latest indication that Russia’s economy needs major reforms. Let’s state the obvious: Russia needs an economy overhaul that will reduce the contribution of oil to its budget revenues. This overhaul is something that the central bank governor Elvira Nabiulina put a price tag on last year,...
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Bitcoin bursts through $8,000

Business Insider - 17 Nov 2017 03:47
Bitcoin bursts through $8,000NASA Bitcoin pushed past $8,000. Pricesrebounded after it fell as low as $5,600 over the weekend. The surge comes amid more regulatory developments in the cryptocurrency market. Bitcoin (BTC) demand... is ramping up to end the week, with the world’s biggest cryptocurrency pushing through $8,000 on major trading exchanges. Here are this week’s moves in BTC on the Bitfinex exchange, via Investing.com: Investing.com Prices have steadily rebounded after demand for offshoot bitcoin cash (BCH) skyrocketed over the weekend, which sent BTC falling as low as $5,600. Since then though, the BTC juggernaut has rolled on while BCH continues to decline from recent highs. The latest BTC surge comes amid further regulatory developments in the cryptocurrency market. Overnight, the CEO of the Chicago...
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Goldman Sachs want to helpYouTube/Marcus by Goldman Sachs Goldman Sachs is revamping GS Bank, its online retail banking service. GS Bank will be rebranded as "Marcus by Goldman Sachs," and offer a new mobile experience for... users, according to an email sent out to customers by the US Bank. Goldman Sachs isrevamping GS Bank, its retail online bank aimed at Main Street. The US banksent an email to customersof GS Bank Thursday, saying thebank was rebranding the serviceto "Marcus by Goldman," was improving the "mobile experience," and would soon roll out tools to "improve your financial wellness." The bank is also rolling out a chat function where users can communicate with "savings specialists." "Our brand name change and website enhancements will be ready in December," the bank wrote in the email alert. "For now,...
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A breakdown of iPhone manufacturing costs over time

Business Insider - 17 Nov 2017 02:36
A breakdown of iPhoneThe iPhone X is the most expensive mobile phone on the market. It is a fact that consumers have largely gotten used to, and many early buyers now acquiescethat the high price is worth it. During... Apple's Q4 earnings call, CEO Tim Cook commented on the price point, saying: "We’re not trying to charge the highest price we could get or anything like that. We’re just trying to price it for what we’re delivering." As we can see in this chart from Statista, Cook was not lying. While the X does have a 64% gross profit margin, it is the priciest phone the company has ever made. According to 9to5Mac, the most expensive part of the iPhone X is the OLED screen. It costs Apple $65.50 to make, almost thirty dollars more than the LCD screen on the iPhone 8. It's important to note that these...
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Ford and GM shed new light on digital efforts

Business Insider - 17 Nov 2017 17:05
Ford and GM shed new light onBI Intelligence This story was delivered to BI Intelligence Transportation and Logistics Briefing subscribers. To learn more and subscribe, please click here. Ford and General Motors (GM), the two... largest US automakers by vehicle sales, revealed new details on their mobility, electric vehicle (EV), and self-driving car efforts at the Barclays Capital Global Automotive Conference in New York earlier this week. The conference is an annual gathering whereauto companiesspeak to Wall Street and much of the rest of the financial community. Ford’s Smart Mobility Group, which is charged with exploring new services and business models for the automaker, has grown to between 14,000 and 15,000 employees,Marcy Klevorn, the group’s president,revealedat the conference. That’s about 7% of the...
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Foot Locker shares rose 30 percent Friday after it beat earnings expectations, on track for bset day since 1977.
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US home construction reachesUS construction of new homes climbed 13.7 percent in October; building of apartment complexes surged
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Fake Amazon gift cards, phonyFake webpages and phishing emails explode during the holidays. Online brands frequently targeted by impostors include Amazon, Walmart and Target.        
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Vox Media's editorialVox Media Vox Media staffers are seeking to unionize their newsrooms. Many digital media newsrooms have unionized in recent years,in hopes thata union canserve as a bulwark against industry... turbulence. Editorial employees at the Vox Media network of websites are set to make their unionization efforts public on Friday. Three sources familiar with the unionization efforts, all of whom asked to remain anonymous given the sensitivity of the discussions, told Business Insider that organizers at the Vox Media network — which includesthe sites The Verge, Vox, SBNation, Eater, Polygon, Racked, Curbed, and Recode — areexpected to alert management and staff this morning about aunion drive effort that has been ongoing in private for months. Though Vox is known for the left-leaning politics ofsome...
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Stuck In a Company-Wide Rut?Big things can happen when you inspire beyond yourself.
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Walmart is expanding itsWalmart Walmart is partnering with Deliv to scale its same-day grocery delivery business. Online groceryservices arehelpingWalmartdraw in more urban, higher-income customers. Walmart is expanding its... grocery delivery business through a new partnership with the logistics company Deliv. WalmartDeliv willstart powering same-day grocery deliveries in the San Jose, California area, Walmart told Business Insider. The retaileris currently offering same-day grocery delivery in four other marketsthroughUber. The new partnership with Deliv, which operates in 33 markets, is a sign that Walmartis planning tocontinue rapidly scaling its grocery delivery services across the US, specifically through third-party logistics companies. Other cities where Deliv operates include Atlanta, Austin, Boston,...
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The Republican tax billJeff Swensen/Getty Images The Senate GOP tax bill contains a tax break for owners of private jets. People that own jets wouldhave payments relating totheirexempted from an excise tax. The Republican... tax plan contains several small carve outs for specific industries — from craft-beer tax breaks to changeson how people can sell stocks. One of those exemptions in the Senate version of the bill,the Tax Cuts and Jobs Act (TCJA), would give a break to owners of private jets. Currently, the federal government imposes an excise tax on the use of privateplanes for every flight an aircraft makes. Under theRepublican tax legislation, costs for maintenance and other support activities for the planes would be exempt from the excise tax. Here's what that exempts, per the Joint Committee on Taxation's...
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Here Are Some Thoughtful IdeasBecause nothing is worse than failure to launch.
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BANK OF AMERICA: These 12 taxReuters/Ilya Naymushin Selling stocks before the year's end to offset taxes on gains and income has been popular for decades. Bank of America Merrill Lynch analysts combed through the stocks they... still think are good buys, but have lost steam this year, to see which might be a good idea to sell in order to lower your tax bill. Financial markets have had a spectacular year. The S&P 500has gained 14.65% and seemingly hits news highs every day. Mutual funds and other investorswho have been fortunate enough to profit from these gains are smart about taxes, and make use of a roughly 30-year-old practice known as tax loss harvesting, or selling off underperformingstocks to lower their total taxable profit at the end of the year. Bank of America Merrill Lynch analysts rounded up a full list...
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Should companies be tacklingBusiness Insider Business Insider CEO Henry Blodgetdiscusses the "Smash Your Keurig" phenomenon, which resulted from the coffee machine manufacturer's decision to pull its advertisements from Fox News... host Sean Hannity's TV show in response to controversial comments made on his show. He notes that Keurig is just the latest example of a company that's waded into a political debate and found out the hard way that many customers view this negatively. Business Insider executive editorSara Silversteinpoints out that Keurig wasn't necessarily trying to take a side,it's a private company that can do what it wants, the same way consumers can vote with their wallet. Blodget and Silverstein also talk about Papa John's, which has also gotten involved in political issues in recent months. After...
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ING seeks to make blockchain tech more usable

Business Insider - 17 Nov 2017 16:30
ING seeks to make blockchainBI Intelligence This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here. Dutch banking giant INGhas rolled outits Zero-Knowledge... Range Proof (ZKRP) solution, which is designed to allow FIs a degree of confidentiality when using a blockchain platform. ZKRP was built in-house by ING's blockchain team, although in June The Wall Street Journalreportedthat the technology was being supplied by New York-based startup Inpher. Despite FIs'growing interestin using blockchain technology, many are held back from moving forward by data privacy and security concerns, according to ING, both of which it says its solution is designed to allay. While zero-knowledge proofs (ZKPs) aren't new, and are widely used on the Ethereum network, ING...
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WATCH: Black Friday consumerA cyber security firm warns many fake mobile apps looking to trick shoppers into entering personal credit card information, disclosing Facebook and Gmail logins or downloading malware that could... potentially steal or lock your devices and hold it ransom
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Blockchain Is Giving The IoTThe Internet of Things and blockchain technology are creating a powerful combination.
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Shares of sports retailers soared on Friday after Foot Locker, Shoe Carnival, and Hibbett Sports reported better-than-expected quarterly profits.
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GOLDMAN SACHS: Tesla's new bigReuters / Rebecca Cook On Thursday night, Tesla unveiled its new electric semi truck and high-end Roadster model. Goldman Sachs analyst David Tamberrino is still bearish on Tesla's stock at current... levels due to continued production issues around the Model 3 sedan. Tesla's shares may be climbing after the company unveiled its new electric semi truck and high-end Roadster, but not everyone is so optimistic. Goldman Sachs analyst David Tamberrino is one of those skeptics, because he just can't get past the production bottleneck hanging over the Model 3 sedan. He says that the longer-term drag from Model 3 issues will more than offset the short-term gains being driven by the new product announcements. "We expect shares to see some upward movement in trading as a result of Tesla’s new...
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Special counsel Robert Mueller's team in mid-October issued a subpoena to President Donald Trump's campaign requesting Russia-related documents from more than a dozen top officials, according to a... person familiar with the matter.
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Univision 'Exploring' SellingUnivision is reportedly seeking a $200 million investment in the division that targets millenials.
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The United States said Thursday that Sudan will cut all military and trade ties to North Korea, a move that would be a significant victory in the Trump administration's efforts …
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White House budget director Mick Mulvaney is expected to take on a second role in the Trump administration as acting director of a consumer financial agency created by the Obama …
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