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Business News

Location American Business News for 12 June 2018

Relief may be in reach for bankers fed up with SARs

American Banker - 12 Jun 2018 23:08
Legislation with bipartisan support would raise the threshold for reporting suspicious activity, a goal banks have long sought.
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Proof that bitcoin still can't be trusted

New York Post - 12 Jun 2018 04:35
Proof that bitcoin still can't be trusted Bitcoin has dropped about 50 percent in value this year. But even at around $6,740, the cryptocurrency is really a bitcon. Recently, Bloomberg News reported that the Justice Department has opened a criminal probe into th...
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Men's shopping habits could also be a reflection of their fatter wallets.
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Expect another interest rate hike from the Fed

New York Post - 12 Jun 2018 04:41
Expect another interest rate hike from the Fed Some of the economy's statistics (like home sales and durable goods) are weakening. But that's probably not going to dissuade the Federal Reserve from raising interest rates on Wednesday. The Fed's policymaking committee...
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8 takeaways from Digital Banking 2018

American Banker - 12 Jun 2018 05:34
From the opportunities -- and threats -- in artificial intelligence to envisioning a world in which "Wi-Fi is like air," here is what everyone was buzzing about at American Banker's Digital Banking conference.
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Postcrisis rules have created new challenges for Trump-appointed regulators as they look at recalibrating the financial rule book, but the vast majority of the 2010 Dodd-Frank Act isn't going anywhere, Securities and Exc...
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Is Your Company Ready for the Rise of Smart Cities?

Harvard Business Review - 12 Jun 2018 15:00
A number of industries will have to adapt their offerings.
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Facebook Inc. turned in more than 450 pages of homework to U.S. lawmakers, defending itself against claims that it is a monopoly and sidestepping questions about the effectiveness of an app that can effectively spy on co...
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Trump's ill-advised tweet could have crushed the stock market You probably already heard that the president tipped people off ahead of time about the last employment numbers. That's a very big no-no. It gives traders who can respond quickly a very big edge. But in case the presiden...
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Trump economic adviser Larry Kudlow 'in good condition' after suffering a heart attack Carolyn Kaster/AP Images Top White House economic adviser Larry Kudlow was reportedly in good condition after suffering a heart attack. President Donald Trump announced Kudlow's heart attack in a tweet sent minutes befor...
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Elliott Management pushes for overhaul of Sempra Energy Less than one year after nudging Sempra Energy into its largest acquisition ever, activist investor Paul Singer is urging the San Diego-based company to burn some fat. Singer's Elliott Management, working alongside energ...
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KKR announces $9.9B deal to buy Envision Healthcare

New York Post - 12 Jun 2018 03:50
KKR announces $9.9B deal to buy Envision Healthcare KKR announced Monday it bought Envision Healthcare for $9.9 billion in a highly leveraged buyout. Henry Kravis' firm, which has been part of three of the four largest LBOs of all time, inked its biggest LBO since the 200...
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California regulators have found the Cheesecake Factory and two of its contractors owe about $4 million to hundreds of janitorial workers in a wage theft case. The state Labor Commissioner's …
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Starting a company won't make you a good CEO, says the serial entrepreneur cofounder of OKCupid Hollis Johnson/Business Insider Sam Yagan started his first company, SparkNotes, his senior year at Harvard University without money or a foundation to build professional success. Yagan went on to be the CEO of Match.com...
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WASHINGTON
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A startup in the West Coast scooter-sharing craze is already worth $1 billion -- and it's raising again at a $2 billion valuation Bird Just weeks ago, electric scooter startup Bird snagged $150 million in a Series C funding round, giving the startup a $1 billion valuation Now, the company is reportedly raising again and seeking a $2 billion valuati...
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HAMBURG/BERLIN
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Your neighborhood bank may now offer short-term, small-dollar loans National banks and federal savings associations can now lend to the short-term, small-dollar loan market. Other financial institutions — such as regional banks, small banks and credit unions — could also start provid...
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Slowdown Could Be Ahead for the U.S. Economy On a daily basis, we are told that there's growth in the U.S. economy and that it’s only going to get better from here. Is this really the case? In one word: No. Understand ...
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Toys R Us stores enter final days with new liquidation markdowns As Toys R Us and Babies R Us stores enter their final days, prices on most items now beat competitors like Amazon, Walmart and Target and rival Black Friday doorbuster deals.        
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U.S. and global stock markets mixed after Trump-Kim summit U.S. and global stock markets were mostly higher Tuesday as investors worked through the outcome of the meeting between President Trump and North Korean leader Kim Jong Un. KEEPING SCORE: The Dow Jones industrial average...
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What to Pack for Cannes, According to a Seasoned Cannes Attendee If you'll be strolling the Croisette next week, there are a few necessities you'll want to pack, starting with sensible shoes and high SPF sunscreen. But it doesn't end there. Adweek Cannes veteran and senior video produ...
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