Business News
Trump should give federal aid to newspapers, too
New York Post - 26 Jul 2018 04:25
So, President Trump wants to give farmers a $12 billion subsidy because his tariffs are hurting their soybean business. I'm as fond of soybeans and other vegetables as the next guy (actually, I'm not, but let's say I am)...
Fitness startup ClassPass raises $255M to fund expansion
New York Post - 26 Jul 2018 04:09
ClassPass is now bench pressing $255 million. That's how much the Big Apple fitness company has raised in venture capital including its latest round of $85 million. Led by L Catterton, which has also invested in Peloton ...
Facebook just shed $130 billion in two hours, Mark Zuckerberg lost $16.8 billion
USA Today - 26 Jul 2018 03:22
Facebook co-founder and chief executive Mark Zuckerberg took a major hit, too. He lost $16.8 billion in extended trading.
Facebook shares slump 20% after growth warning
BBC - 26 Jul 2018 16:51
A warning that profits growth will slow sends Facebook shares sliding 20% at the start of Wall Street trading.
Defending Tour de France champ Chris Froome yells 'f--- you' at cop after being knocked off his bike
Business Insider - 26 Jul 2018 05:00
Daniel McMahon/Business Insider Chris Froome, the best stage racer in cycling, suddenly can't get a break at the Tour de France, a race he's won four times. After Wednesday's stage 17, Froome was riding his bike back dow...
Russia sold most of its US government securities around Helsinki summit
New York Post - 26 Jul 2018 04:39
Russia sold most of its holding of US government securities right around of time of the Helsinki summit. How rude of the Russians! Russia sold about 80 percent of its $80 billion in US debt. The selling reportedly took p...
Why revised economic data is so important
New York Post - 26 Jul 2018 04:23
On Friday, we'll learn how the economy has been doing under President Trump . . . and under former President Obama . . . and also under former presidents George W. Bush , Bill Clinton , George H.W. Bush and so on. That's...
Hedge fund says groping suit settled with accuser getting no compensation
New York Post - 26 Jul 2018 04:07
A New York hedge fund manager accused of groping a former colleague can sleep a little easier now. Snow Park Capital's Jeffrey Pierce settled a lawsuit filed by former Chief Financial Officer Kate Merli -- with Merli rec...
China's Pinduoduo raises $1.6 billion in range-topping U.S. IPO: sources
Reuters - 26 Jul 2018 03:45
HONG KONG (Reuters/IFR) - Chinese online group discounter Pinduoduo Inc priced its U.S. initial public offering (IPO) at $19 per American depositary share (ADS), raising $1.63 billion in the second-biggest U.S. float by ...
Outside the Box: Investors keep underestimating growth in internet advertising at their peril
Market Watch - 26 Jul 2018 17:17
In five years, the internet ad market could be $600 billion, compared with an estimated $230 billion in internet ad revenue last year.
Read Amazon's full response to the ACLU report about its facial recognition software misidentifying members of Congress as previously arrested (AMZN)
Business Insider - 26 Jul 2018 17:12
Getty/Chip Somodevilla Amazon is under fire after the American Civil Liberties Union performed an experiment using Amazon's facial recognition software. The ACLU found that it incorrectly identified 28 members of Congres...
A-B In-Bev Shakes Up Its Leadership Structure With New Global CMO
AdWeek - 26 Jul 2018 17:02
Anheuser Busch In-Bev is reorganizing its leadership team. The company has tapped a new global CMO, Pedro Earp, who will assume the role from Miguel Patricio, who will now serve as the company's chief of special global p...
Congress is analyzing sales tax ruling fallout
Business Insider - 26 Jul 2018 17:02
This story was delivered to Business Insider Intelligence "E-Commerce Briefing" subscribers hours before appearing on Business Insider. To be the first to know, please click here. The US House of Representatives Judiciar...
3M to pay $9.1 million over defective military ear plugs
Reuters - 26 Jul 2018 16:57
The 3M Co. has agreed to pay $9.1 million to settle allegations it knowingly sold defective combat ear plugs to the U.S. military without disclosing defects that limited the effectiveness of the hearing protection device...
Comcast shares rise on internet customer, profit growth
Reuters - 26 Jul 2018 16:54
Comcast Corp on Thursday reported a quarterly profit that beat Wall Street estimates as it added more than expected high-speed internet customers amid its push to diversify away from pay-TV, despite shedding an increasin...
Bloom Energy will be profitable this year, CEO says after IPO
Market Watch - 26 Jul 2018 16:50
Wall Street seemingly could not get enough of Bloom Energy Corp. on Wednesday, with shares rising as much as 50% after an initial public offering that Chief Executive and founder K.R. Sridhar credited to his company's ab...
Raytheon earnings beat, but cash flow concerns hit shares
Reuters - 26 Jul 2018 16:48
Tomahawk missile maker Raytheon Co on Thursday raised its earnings forecast for 2018 and reported stronger than expected results, but its shares fell on investor concerns about lower cash flow for the year.
Facebook's Plunge Hits Nasdaq; Easing Trade Worries Lift Dow
The New York Times - 26 Jul 2018 16:48
The Nasdaq Composite fell on Thursday as Facebook led a selloff in technology stocks, but the Dow gained as fears of a transatlantic trade war eased after the European Union and the United States agreed to negotiate on t...
Are ride-sharing services actually making New York traffic worse?
USA Today - 26 Jul 2018 16:48
The big apple’s traffic is getting much much worse thanks to carpooling services like Uber and Lyft. Buzz60's Maria Mercedes Galuppo has more.
Spotify subscriber count reaches 83 million
New York Post - 26 Jul 2018 16:37
Music streaming leader Spotify's paid subscribers rose 10 percent in the second quarter, it said Thursday, as it races to stay ahead of mounting competition from Apple Music, especially in the US market. Monthly paying s...
US warns of North Korea's global outsourcing of forced labor
Miami Herald - 26 Jul 2018 16:34
American companies were put on notice this week by the Trump administration that they could face steep fines, or even criminal charges, if their business involves North Korean workers anywhere …
Millennials are making investment mistakes with their savings
USA Today - 26 Jul 2018 16:30
Millennials are making investment mistakes with where to put their savings. Buzz60's Elizabeth Keatinge has more.