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American Business News for 19 Oct 2017

SeaWorld Entertainment Inc., which has struggled with declining attendance, said Wednesday that it is cutting 350 positions. The company is laying off people and not refilling open positions across... the company, although the cuts primarily affect its corporate headquarters in Orlando, Fla., and...
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FCC extends Sinclair-TribuneThe Federal Communications Commission is extending the comment period on Sinclair Broadcasting's $4 billion merger with Tribune Media Co.        
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Facebook is getting into theFacebook via The Motley Fool Facebook launched 'marketplace' for buying and selling goods last year This week the company announced it was testing food delivery inside thefeature Earlier this year,... Facebookbegan testing a new feature in its core service that allowed users to order food from local restaurants for delivery. As is often the case with Facebook, after testing a new idea within a small subset of its users, it rolls out that feature more broadly if the data is encouraging. The social network announcedlast week that it is doing just that. The company notes that people often turn to Facebook looking for social recommendations from friends and family regarding what to eat, and Facebook has an opportunity to streamline this process by integrating ordering directly into the platform....
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Amazon Will Let You AddIt's not a pure product meritocracy. Paid advertising has been on Amazon for a long time.
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'F--- Apple': Nest founderTony Fadell started a new VC firm called Future Shape. The VC firm is focused on seed funding for early-stage companies, and will give founders access to Fadell to aid in problem-solving. One of the... companies in Future Shape'sportfoliois reportedlyfeuding with Apple. Tony Fadell was one of the primary inventors behind the iPod and he cofounded Nest, which was sold to Google for billions.Now, he's bringing his gold touch to the startup world with a new VC firm called "Future Shape." Future Shape, according to its website, is not taking outside investment, and it's focused on seed funding for early-stage companies. So far it's invested in Rohinni, Phononic, and Modern Meadow, according to its website, which says it also has hundreds of additional investments. One of its biggest advantages...
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Betterment, the investingBetterment Betterment, the largest independent roboadviser with $11 billion under management,provides algorithm-based online and mobile financial advice. It raised$70 million in a funding round in... July led by Swedish investor Kinnevik, giving it an $800 million valuation. According to a list of investment opportunities from EquityZen, a platform for pre-IPO shares, shares are now being offered at an implied valuation of over $1 billion. Betterment, a roboadviser with $11 billion under management, isconsidered a unicorn in the private markets. Preferred shares of Betterment are being offered at a price of $11 onEquityZen, an online marketsite for shares ofprivate companies, according to a list of investment opportunities seen by Business Insider.That gives Bettermentan implied valuation of...
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Study Finds Little DiversityJack Dorsey's payments business Square had only one person of color on its 11-member executive team, according to a new report.
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(Reuters) - Wall Street fell sharply on Thursday, pulling back from record highs, amid a broad decline that was led by technology stocks and disappointing quarterly reports from major companies.
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Samsung won't stop its smart home push

Business Insider - 19 Oct 2017 16:15
Samsung won't stop its smartBI Intelligence This story was delivered to BI Intelligence IoT Briefing subscribers. To learn more and subscribe, please click here. Samsung sees a future where homes are "blanketed with connected,... programmable devices," said David Eun, the President of Samsung Next, the company's investment arm, at The Wall Street Journal's D.Live conference in New York, Engadgetreports. The Korean tech giant already offers one of the most extensive lineups of smart home products of any device maker in the space.Since it purchased smart home startup SmartThings back in 2014, the company has released a host of new smart home products, including smart lights, security sensors, security cameras, smart tags, a new smart fridge, smart washers and dryers, and the hub that enables all the devices. Meanwhile,...
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US tourists may have beenAssociated Press/Desmond Boylan At least 22 American diplomats, intelligence agents, and their family membersover the last year have suffered from mysterious sonic attacks. Several US citizens who... visited Cuba in recent years have told the State Department they've developed symptoms similar to those of the embassy victims. The government says it can't verify the tourists'accounts, but hasn't indicated it's trying hard to do so. CHARLESTON, S.C. (AP) — Chris Allen's phone started buzzing as word broke that invisible attacks in Cuba had hit a US government worker at Havana's Hotel Capri. Allen's friends and family had heard an eerily similar story from him before. The tourist from South Carolina had cut short his trip to Cuba two years earlier after numbness spread through all four of his...
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Walmart and Lord & Taylor areWalmart is entering a deal to sell Lord & Taylor goods online, the Wall Street Journal reported. The move is part of a plan to create an "online mall." Walmart is locked in a bitter battle with Amazon... as it moves online. As Walmart seeks to broaden its assortment to better compete with Amazon, deals with other retailers have become a big part of its strategy. The latest, according to a new report in the Wall Street Journal, is a new deal with department store Lord & Taylor. It includes a plan to sell the department store's goods in a dedicated area on Walmart.com, creating an "online mall" full of high-end designer brands for shoppers to browse. Lord & Taylor is a higher-end department store, which aligns with Walmart e-commerce head Marc Lore's goal of pulling the Walmart.com experience...
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The Securities and Exchange Commission published a lengthy update Tuesday to its May 2016 guidelines for non-standard accounting metrics, the supplemental numbers companies use to explain their... results that can confuse and mislead investors.
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Trump's final 5 candidates for Fed chair

Business Insider - 19 Oct 2017 16:09
Trump's final 5 candidates forGetty Trump is down to five candidates for Fed chair; Kevin Warsh and Jerome Powell appear to be favorites. Warsh comes from a politically influential family, but may be seen as too young. Powell, a... current Fedgovernor and a former private equity magnate, would signal continuity. Donald Trump has indicated he is close to making a decisionon arguably his most powerful economic appointee: the next chair of the Federal Reserve. While the president has dangled the possibility of reappointment before current chair Janet Yellen, her chances are seen as slim — she’s a liberal Democrat who has voiced concern about Trump’s desire to roll back post-crisis financial rules she was charged with implementing. The two favorites are Jerome Powell, a former private equity magnate now on the Fed’s...
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Trump claimed that he dumpedAP Images Black Monday, October 19, 1987 was the day of the largest one day stock market drop in history. Then-real estate investor Donald Trump told the Wall Street Journal the next day that he had... dumped all his stock in the preceding months before the crash. "I think the market is going to go down further, there are just too many things wrong with the country," Trump said. On Monday, October 18, 1987 the stock market was rocked by the worst one day fall in history with the Dow Jones industrial average falling 508 points, or 22.7%. Luckily, now-President, then-real estate investor Donald Trump claimed to have sold all of his stock before the downfall of the market "They told you so!" crowed the lede of a Wall Street Journal article the day after the crash, October 20. "I sold all my...
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The Most Delicious ChocolatesAs store aisles become increasingly cluttered with alluring bars featuring flavors from all over the world, where should a chocolate lover turn for guidance? I'm putting my trust in the people who put... the craft in craft chocolate.
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New York Yankees Take BigThe New York Yankees brand is synonymous with success beyond baseball.
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Stocks fall, pulled down byTechnology companies and banks are leading U.S. stocks slightly lower in early trading on Wall Street. Apple gave up 2% early Thursday, while Facebook lost 1.3% and Google's parent company, Alphabet,... lost 1%. Among financial companies, American Express fell 1.8% after announcing that its CEO was...
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Blue Apron is slipping afterBlue Apron Shares of Blue Apron aredown 3.21%at $5.13 a piece after the company announced it would be laying off 6% of its workforce, or about 300 employees. Blue Apron announced a "company-wide... realignment of personnel to support its strategic priorities" in an 8-Ksubmitted to the SEC on Wednesday. The company plans spend $3.5 million on severance packages. The layoffs included both positions in the company's corporate offices and fulfillment centers, according to the filing. "Our leadership and Board did not take this decision lightly, and I want to assure you that we believe it was necessary as we focus the company on future growth and achieving profitability," CEO Matt Salzberg said in the letter. Blue Apron went public on June 29 on this year and priced its first shares at $10. The...
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We Need to Learn to CelebrateInstead of beating yourself up when you lose money with a business mistake, reframe your thinking.
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GOLDMAN SACHS: Here's the onlyAssociated Press Earnings season is here, and Goldman Sachs has some money-making ideas. Their recommendations involve options trades on single stocks that are designed to capture potentialgains in... share prices. We all know the old adage: buy low and sell high. That's exactly what Goldman Sachs recommends for stock traders heading into earnings season — except their suggested method involves options. The focal point of their strategy involves identifying downtrodden stocks with strong fundamentals since they'll be the most likely to spring higher in the event of a better-than-expected report, The firm says to buy calls — or bets a stock will rise — on companies with either buy or neutral ratings that have underperformed the S&P 500 by 3% or more in the two weeks ahead of earnings....
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Goldman Sachs CEO LloydJohn Moore/Getty Images Goldman Sachs CEO Lloyd Blankfein spelled out the bank's post-Brexit plans for Europe in a Tweet. "Just left Frankfurt," he tweeted. "Great meetings, great weather, really... enjoyed it. Good, because I'll be spending a lot more time there. #Brexit." Goldman Sachs currently employs 6,500 people in the UK and currently has around 200 staff in Frankfurt. But the bank recently leased a space in a Frankfurt tower block that could hold up to 1,000 staff. Goldman has reportedly been looking for office space in Frankfurt, which is Germany's financial powerhouse and the home of the European Central Bank, in recent months in order to continue operations across the EU in the post-Brexit environment. Reports that Goldman could move some UK staff to Frankfurt due to Brexit first...
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Free-spending Dodgers couldThe Los Angeles Dodgers, despite having the highest payroll in Major League Baseball, could erase years of red ink this season -- thanks to a likely World Series appearance, The Post has learned.... "They might be close to break even" thanks to the increased number of home games, a source familiar with the situation said....
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The Treasury Department will release a report early next year on opportunities and risks posed by fintech as part of administration efforts to reform the regulatory structure, Craig Phillips said.
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Trump selects antitrust lawyer to head FTC

New York Post - 19 Oct 2017 02:13
Trump selects antitrust lawyerWASHINGTON – President Donald Trump has selected Joseph Simons, an antitrust attorney from a Washington law firm, to head the Federal Trade Commission, a White House official said on Wednesday.... Trump is expected to nominate Simons to the agency, along with Noah Phillips and Rohit Chopra to be FTC commissioners, the White House official said....
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Postal workers and supporters have marched in front of Boston's main downtown post office to protest job cutbacks that have led to long lines and delivery delays around New England. …
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