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Business News

Location American Business News for 20 Aug 2019

Crystals' Resurgence in the Self-Care Age

The New Yorker - 20 Aug 2019 11:00
Crystals' Resurgence in theRachel Syme introduces a video about crystals' rise in popularity, featuring Marisa Galvez, a professor at Stanford University, and a crystal enthusiast on a visit at the Maha Rose Center for Healing,... in Brooklyn.
The U.S. Extends a LimitedThe aim is to give small U.S. companies time to reduce their reliance on the Chinese tech giant
Brazilian hotel companyBrazil's high-end Fasano Hotel company is hot to take over the vacant, former Four Seasons restaurant at 280 Park Ave., Realty Check has learned. Nothing's signed and talks haven't reached a... term-sheet stage, but a source said Fasano would love to turn the lights back on. The glamorous, 19,000- square-foot venue -- a revival of...
Apollo Global looking to buyApollo Global Management has told time-share operator Hilton Grand Vacations it wants to buy the $2.4 billion outfit, and the company is considering its next steps, The Post has learned. Apollo,... co-run by Leon Black, gave the Orlando time-share company three options: It could buy Hilton Grand at a premium to its share price, merge...
Wide Implications as GermanyThe German slowdown is already starting to have an effect on the wider 19-nation eurozone
CEOs say corporations shouldCorporate America's lobbying group, the Business Roundtable, says it will no longer put shareholders first -- but critics aren't buying it. The powerful business lobbying group, led by JPMorgan Chase... Chief Executive Jamie Dimon, changed its definition of the purpose of a corporation Monday by giving employees, the environment and society at large equal weight...

Bankers turn curiously optimistic about the economy

American Banker - 20 Aug 2019 03:59
Competition for deposits is tight, the outlook for loan demand is uncertain, and regulatory relief is slow-moving. Yet community bankers are feeling better about the economy than they have in two... years, a Promontory Interfinancial Network survey found.
CBS-Viacom merger equals $70MThe merger of Viacom and CBS is shaping up to be lucrative for its top two execs. Acting CBS Chief Executive Joe Ianniello, who will be chairman and CEO of CBS at the combined firm, will bank a hefty... payout of $70 million when the deal closes. That payout is tied to a provision in...
How Small Hotel Brands AreThese Davids have Goliath on speed dial. While the big hotel groups are getting bigger, Auberge Resorts Collection, Montage Hotels & Resorts, LLC, Red Carnation Hotel Collection, and Grand Velas are... expanding slowing and capturing shelves of awards and accolades.
A national-security panel that oversees foreign investment in U.S. businesses approved the transfer of a stake in cybersecurity company Cofense from a Russia-linked private-equity firm to funds... managed by BlackRock.

Shrinking U.S. Crude Discount Threatens Exports

Wall Street Journal - 20 Aug 2019 17:38
The discount of the U.S. crude-oil benchmark to the global Brent price has fallen to its lowest level in more than a year, driven by an expansion in pipelines.
Goldman Sachs Group Inc officially became a credit-card lender on Tuesday by rolling out its first product with Apple Inc , but the bank has aspirations to grow much bigger in consumer lending, its... chief executive said in an internal memo viewed by Reuters.

Investors Don't Love Elanco's New Tricks

Wall Street Journal - 20 Aug 2019 17:06
Elanco is smart to buy Bayer's animal-health business, but a high deal price could mean shares languish.
Facebook's New Tool Lets YouThe tool is a response to criticism that Facebook has faced over how it safeguards its users' privacy.
Two U.S. banking regulators on Tuesday approved changes easing a rule introduced after the 2007-2009 financial crisis that bans banks from trading on their own account, giving Wall Street one of its... biggest wins under the Trump administration.
The transfer path of Tekkie Town and its shares in late 2016 to Steinhoff subsidiary Pepkor was clearly plotted even before the first transfer took place, says a Cape High Court judge.
Apple Card Launches ForOne step closer to privacy as a technological service?
U.S. stocks eased on Tuesday after three sessions of strong gains, weighed by declines in financial companies, while better-than-expected results propped up retailer Home Depot.
Home Depot is bracing forHome construction has slid recently, causing Home Depot to temper third quarter expectations.       
Prime Real Estate: Amazon HQ2The neighborhood around Amazon's HQ2 proposed headquarters has seen prices surge yet again.
AI start-up raisesThe start-up, co-founded by Hyderabad-born Sri Satish Ambati in 2012, has raised a total funding of $147 million with this round
The crowded market for video streaming, currently dominated by Netflix Inc, is expected to heat up further as Walt Disney Co rolls out its Disney+ service on Nov. 12 in the United States, Canada and... the Netherlands.

3 budget mistakes you're probably making

USA Today - 20 Aug 2019 16:00
3 budget mistakes you'reThese budget blunders could throw your efforts off-course.       

Should a Pension Fund Try to Change the World?

Harvard Business Review - 20 Aug 2019 15:30
Harvard Business School professors Rebecca Henderson and George Serafeim discuss the impact investing efforts of Hiro Mizuno, CIO of GPIF, Japan’s government pension fund. He says that improving... corporate governance, increasing inclusion and gender diversity, and addressing climate change would expand Japan’s economy. But, should a pension fund try to change the world?
Here is breaking down the pre-market actions.