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Business News

Location American Business News for 12 May 2018
Rudy Giuliani walks back explosive claim that Trump intervened in the Time Warner-AT&T merger Joshua Roberts/Reuters Rudy Giuliani, President Donald Trump's lead defense attorney, on Saturday walked back his earlier admission to HuffPost that Trump intervened in the Time Warner-AT&T merger to try to kill the deal...
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Morgan Stanley says there's one piece of the market you need to own as stocks run out of steam Andrew Burton/Getty Morgan Stanley's equity strategists have said the strongest stock market returns of this cycle are behind us. They believe investors will turn more defensive toward the end of this year, and they see ...
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GOLDMAN SACHS: This is the perfect environment for bank stocks -- here are 7 reasons why they're set to spring higher Getty Images / Spencer Platt Goldman Sachs says we're currently in a great environment for bank stocks, despite mounting investor concern that we're headed for a major economic downturn. The firm argues these concerns ar...
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(Reuters) - Chinese technology company ZTE Corp , which this month suspended its main operations after a U.S. Commerce Department ban on American supplies to its business, paid over $2.3 billion to 211 U.S. exporters in ...
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(Reuters) - AT&T Inc on Friday ousted its top lobbyist, and the No. 2 wireless carrier's chief executive said it was a "big mistake" to hire Michael Cohen, President Donald Trump's personal attorney, for advice on workin...
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This woman believes her sister took advantage of their ailing mother's last days.
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Caterpillar has officially put its production plant in the northern Illinois city of Aurora on the market. Caterpillar is one of the lead manufacturers of construction and mining equipment. The …
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Judge denies ex-HSBC trader's medical reprieve, sends him to prison A Brooklyn federal judge on Friday denied a medical reprieve to a British currency trader who last month was sentenced to two years in prison for front-running his clients. Lawyers for the ex-HSBC trader, Mark Johnson, a...
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A $500 billion money manager has built an Amazon Alexa for Wall Street -- and it's already helping trade billions of dollars (AB) David Becker/Getty Images Meet Abbie, an artificial-intelligence-powered bot that's helping conduct fixed-income trades at the $500 billion money manager AB. Abbie completes mundane and repetitive tasks that might otherw...
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GameStop CEO abruptly resigns for 'personal reasons'

New York Post - 12 May 2018 04:05
GameStop CEO abruptly resigns for 'personal reasons' It's not all fun and games at the largest video game retailer. GameStop Chief Executive Michael Mauler on Friday abruptly resigned for "personal reasons" just three months after getting the job. The company did not give ...
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Two Newbies Take on Cisco and Broadcom

Barron's - 12 May 2018 03:20
Two Newbies Take on Cisco and Broadcom Innovium and Barefoot Networks contend that they can speed up innovation in the networking sector.
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At Toys 'R' Us, a $200 Million Debt Problem Could Lead to $348 Million in Fees The retailer's fall shows how lucrative bankruptcy can be for lawyers and other professionals, while creditors and workers are often left with little.
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More employers are encouraging their workers to take a break.
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Why I'm not rushing to pay off my $100,000 mortgage

Business Insider - 12 May 2018 15:36
Why I'm not rushing to pay off my $100,000 mortgage Mark Blinch/Reuters Certain people prefer to invest surplus money, rather than use it to pay off a mortgage. In the event of 'known unknowns,' the money earned through investments can be used to make mortgage payments an...
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Two members of a secretive evangelical church in North Carolina were charged Friday in an unemployment benefits scheme that former congregants have said was part of a plan to keep …
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A day after saying she had "full confidence" in Baltimore's police commissioner despite federal charges of failing to pay his taxes, the city's mayor on placed him on paid suspension. …
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Wife hung fake Picasso after taking real thing amid contentious divorce A woman locked in a contentious divorce with her bond-trader husband took a Picasso off his wall -- and replaced it with a forgery she made herself. Sue Gross didn't wait until she and Wall Street titan Bill Gross had fi...
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A leaked internal document shows that changes are coming to the Chase Sapphire Reserve that will devalue its famously generous perks (JPM) David Slotnick/Business Insider JPMorgan Chase is cutting back on the benefits of its wildly popular Chase Sapphire Reserve credit card. According to a leaked internal document, the company is eliminating price protectio...
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The 10 richest royal families in Europe, ranked

Business Insider - 12 May 2018 15:35
The 10 richest royal families in Europe, ranked Kirsty Wigglesworth/AP Photos Queen Elizabeth II has a net worth of $500 to $600 million, but she isn't Europe's richest royal. Some of Europe's royal families have reported net worths well into the billions. See the top...
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Elaine Wynn pushes to boot board members with ties to disgraced ex Elaine Wynn is having no luck securing a meeting with Wynn Resorts' newest board members ahead of next week's shareholder meeting. Wynn, who has been waging a proxy battle to unseat legacy director John Hagenbuch, penned...
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Starbucks blasted for dumping gluten-free sandwich

New York Post - 12 May 2018 04:24
Starbucks blasted for dumping gluten-free sandwich Starbucks finds itself in a sticky situation as celiac sufferers are furious with the coffee chain for dropping its only certified gluten-free breakfast sandwich. The Canadian bacon, egg and cheddar cheese sandwich was b...
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Industry Lawyer Expected to Head F.T.C. Consumer Protection

The New York Times - 12 May 2018 02:53
Industry Lawyer Expected to Head F.T.C. Consumer Protection The possible appointment of Andrew Smith, who represented Facebook, Uber and Equifax and others, raised the prospect of frequent recusals from investigations.
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