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Business News

Location American Business News for 8 November 2018

Sizing up the real fintech threat to banks

American Banker - 8 Nov 2018 07:07
Will it be a bigfoot from Amazon, Google and Apple, or death by a thousand bites from niche rivals? Or can banks rally and fend off the insurgents?
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India's banking system is flirting with a Lehman moment WHEN NARENDRA MODI was elected prime minister of India in 2014, his plan was to revive its GDP growth rate back to the near-double-digit figures seen in the mid-2000s. Few would have guessed that the biggest threat to th...
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Elon Musk gets new boss at Tesla

USA Today - 8 Nov 2018 18:39
Elon Musk gets new boss at Tesla Elon Musk has been replaced as chairman of Tesla. Despite the fallout from the billionaire misleading investors, Musk won't be going far. Veuer's Justin Kircher has the story.        
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Billboards are an old but booming ad medium

The Economist - 8 Nov 2018 14:48
Billboards are an old but booming ad medium Times Square pre-neon PEDESTRIANS STROLLING down 8th Avenue in Manhattan's Hell's Kitchen neighbourhood will be struck by the cast-limestone façade of the Hearst Magazine Building. Commissioned by William Randolph Hears...
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Washington state voters rejected the nation's first tax on carbon emissions in the costliest initiative fight in state history. And they approved a ballot measure to block local governments from …
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Matthew Whitaker, appointed acting attorney general on Wednesday after Jeff Sessions resigned, was a paid advisory-board member of an invention-promotion company shut down by federal regulators last year as an alleged sc...
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Dan Loeb steamed over Campbell's executive pay packages Activist investor Dan Loeb is hot and bothered over Campbell Soup's executive pay packages and he wants shareholders to be too. "No one minds paying fairly for a CEO who benefits everyone, but paying tens of millions of ...
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Why Democratic swell puts Wall Street at ease

New York Post - 8 Nov 2018 04:23
Why Democratic swell puts Wall Street at ease Gridlock is good. That's the word on Wall Street after Democrats took control of the House of Representatives, setting the stage for a stalemate with the Republican-controlled Senate that investors are betting will boost...
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Judge suspends compliance deadline for CFPB payday rule

American Banker - 8 Nov 2018 04:07
Reversing a previous order, the Texas judge granted part of the bureau's request to stay the effective date and allow time for the agency to work on changes to the rule.
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Do Not Resuscitate: The Saga of Sears, Hedge Fund Hubris And Media Ignorance As the once-iconic retail giant, shutters stores, there are important lessons for investors.
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Wells Fargo is considering a sale of its retirement-plan services business, which could fetch as much as $1 billion, according to people familiar with the matter.
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Gannett adjusted 3Q earnings beat expectations but company cuts full-year revenue forecast Gannett cuts full-year outlook as digital revenue slows and print advertising and circulation continue to decline.        
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Disney Gets Go Ahead From EU On Fox Assets Just Before Q4 Earnings Report Entertainment conglomerate Walt Disney Company reports fourth-quarter earnings after the closing bell on Thursday, Nov. 8. As Disney integrates the assets it bought from Fox, here's a look at what might be expected from ...
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Bombardier cuts 5,000 jobs globally

BBC - 8 Nov 2018 18:59
Bombardier cuts 5,000 jobs globally Canadian plane and train maker, which employs 4,000 in Belfast, says the cuts will come in the next 18 months.
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Still, it's best not to be dogmatic.
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Airbnb says these are the top trending bookings for New Year's Eve In case you don't know where to go on New Year's Eve, Airbnb just released a list of top destinations where you can get the party started. Buzz60's Natasha Abellard has the story.        
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Markets Right Now: US stocks open modestly lower Stocks are opening modestly lower on Wall Street as the market gives back some of its big gains from the day before.
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Coca-Cola Co said on Thursday it plans to launch two energy drinks under its namesake brand, its latest move to diversify away from sugary sodas.
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Facebook launching pop-up store in Macy's

USA Today - 8 Nov 2018 18:34
Facebook launching pop-up store in Macy's In a new partnership with Macy’s, Facebook will be adding to the department store’s pop-up area called “The Market.” Buzz60's Natasha Abellard has the story.        
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Stocks post a mixed performance on Thursday as investors await a Federal Reserve policy statement due after European markets close, while individual stocks rise on earnings.
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Goldman Sachs Ex-Hip Hop Banker Pleads Guilty to Money Laundering Hip hop's original first lady Kimora Lee Simmons current husband and former Goldman Sachs partner Tim Leissner has been charged with money laundering, after the theft of billions of dollars from Malaysian sovereign wealt...
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Like many people, Zamira Hajiyeva often dropped by a neighborhood shop, just down the street from her London home, to pick up a few things -- including gem-encrusted jewelry and …
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