A former engineer’s claims of sexism at Uber is apparently only the tip of a much deeper problem inside the company’s culture, according to a scathing report published on Wednesday. Another Uber manager allegedly groped co-workers’ breasts during a Las Vegas company retreat that featured cocaine-sniffing employees and a joyride in an employee-commandeered shuttle bus, the report claims.
Day: February 22, 2017
Syracuse beats Duke with buzzer-beater and picks up an…
Syracuse entered their matchup against No. 10 Duke needing a win to help their chances of making the NCAA Tournament and they got when John Gillon banked in a three-pointer at the buzzer.
Google is preparing to release a wireless 4K TV box, even as…
Google is preparing to release a wireless set-top box for the new generation of ultra-HD “4K” TVs, even as the company drastically scales back its high-speed internet and TV Google Fiber efforts. Recent filings with the FCC reveal that Google has received authorization to bring to market a “4K wireless TV box.”
Rate Hikes Boost Bank Deposits
Repurchase agreements, or repos, are a tool of monetary operations used by the Fed in carrying out monetary policy. In a repo, the Fed will buy securities from authorized counterparties at an agreed-upon price for an agreed-upon term.
Don’t Fear the Past; Fear Our Debt Burden
Analogies to past market surges shouldn’t concern investors as much as the trillions in debt we’ve managed to build. It was inevitable, but I am starting to see comparisons made to the current market environment and other monumental periods of the past.
Australia Post chief resigns despite bumper profits
But earlier this month it emerged he earned A$5.6m last year, 10 times the salary of Prime Minister Malcolm Turnbull. At the time, Australia Post defended the payout, saying it included a bonus due to Mr Fahour for steering the business into profit in 2016.
Illustration of Ajit Pai by Linas Garsys/The Washington Times
One of President Trump’s less publicized appointments also happens to be one of his best: Ajit Pai as the new chairman of the Federal Communications Commission is a cause for celebration. Mr. Pai possesses not only a keen legal mind and a great familiarity with the intricacies of the FCC ‘s current operations, he also favors new policies that are friendly to both the short- and long-term interests of consumers.
Four China Regulators Acting as One Shows Shift in Curbing Risk
China’s regulators are putting together a unified front seeking to beat back growing risks to the financial system from $8.7 trillion in asset management products, including investments in bonds and risky off-balance-sheet lending by banks. They’re working to draft sweeping new rules governing the surge in these products, Bloomberg News reported earlier this week and a regulator confirmed Wednesday.
China State Fund’s Broker Says It’s Buying Hong Kong Stocks
China’s $278 billion social security fund has started investing in Hong Kong equities to achieve higher returns, according to one of the nation’s top brokers. Guotai Junan Securities Co.
Verizon approved for 7 cell towers along Rte. 6
The Planning Board approved seven special permits to Cellco Partnership doing business as Verizon Wireless to add small cell equipment on utility poles along Route 6 on Tuesday. The small cell equipment consists of an antenna at the top of the utility pole, two remote radio heads, meter, junction boxes and associated wires, and cables.
Walmart’s Ridiculously Wealthy Heirs Just Keep Getting Even Richer — Here’s How
Who said retail stinks? Tell that to the richest family in America, who got multi-richer Tuesday after shares of Walmart rose 3% following a better-than-expected fourth quarter. That jump deepens the pockets even more of Sam Walton’s three surviving children-Rob, Jim and Alice.
HP Sales Soar Past Estimates on Personal-Computer Strength
Revenue rose 3.6 percent percent to $12.7 billion in the fiscal first quarter, the Palo Alto, California-based company said Wednesday in a statement. Analysts on average projected $11.8 billion, according to data compiled by Bloomberg.
Online companies are the biggest spenders on TV advertising in…
Internet companies were the biggest spenders on UK television advertising last year, collectively spending $757 million in 2016, according to a report from British TV marketing body Thinkbox. The report, which compiles data from audience measurement firm Nielsen, showed BGL Group which owns price comparison website CompareTheMarket.com was the biggest spender of all online brands with a spend of $48.3 For online brands in particular, which have little or no physical presence, TV’s ability to create emotional connections with large audiences is vital.
Nissan’s CEO Carlos Ghosn just stepped down
Nissan Motors has a new CEO. On February 22, the Japanese automaker announced that Hiroto Saikawa will become its new CEO on April 1, 2017.
Tesla has finished its investigation into Fremont plant…
Tesla CEO Elon Musk said he plans to release the results of an investigation into the Fremont plant in a blog post shortly during Tesla’s fourth-quarter earnings call Wednesday. Musk said he was launching an investigation into the plant after a worker publicly complained of conditions at the plant, alleging that the factory equipment regularly injured employees on site.
ValueAct’s Ubben Disinvesting in the Market
Activist investor Jeff Ubben of ValueAct on Wednesday evening painted a negative picture of the markets, noting that he is disinvesting and has put about $3 billion into cash, even as corporations push for M&A. “We’re very late cycle,” Ubben told a Reuters conference on the future of shareholder activism.
Home Depot: Cramer’s Top Takeaways
In his “No-Huddle Offense” segment, Cramer expounded on the many things going right at Home Depot , which saw a 7.1% boost in same-store sales this quarter, as well as announcing a stock buyback program. The company saw broad growth in all categories in all regions of the country and continues to take appliance marketshare from the ailing Sears Holdings .
Tellurian: Cramer’s Top Takeaways
Tellurian’s Charif Souki tells Jim Cramer he’s bullish on the ability of the U.S. to export more natural gas. In an “Executive Decision” segment, Cramer spoke with Charif Souki, former head of Cheniere Energy and now the co-founder and chairman of Tellurian , a stock that was up 12.1% today.
Six Flags: Cramer’s Top Takeaways
For an “Executive Decision” segment, Cramer sat down with John Duffey, president and CEO of Six Flags , the regional theme park operator with 19 parks and shares that are up 19% over the past 12 months. Shares of Six Flags fell 3% on seemingly strong earnings today, however.
How many dumplings can one food truck sell?
They died out decades ago but now the concept is back on the menu after the food truck revolution – which began in the US – arrived in Hong Kong.
traffic jam
The Federal Communications Commission today approved two cellular base stations-one each from Ericsson and Nokia-to use LTE-U , marking the first official government thumbs-up for the controversial technology. FCC chairman Ajit Pai said in a statement that the unlicensed spectrum-historically, the territory of Wi-Fi-can now be used to help ease the load on carrier mobile networks.
HP Sales Soar Past Estimates on Personal-Computer Strength
Revenue rose 3.6 percent percent to $12.7 billion in the fiscal first quarter, the Palo Alto, California-based company said Wednesday in a statement. Analysts on average projected $11.8 billion, according to data compiled by Bloomberg.
Square Tops Sales Estimates on Growth of Bigger Merchants
Square Inc., the electronic-payments company run by Twitter Inc. Chief Executive Officer Jack Dorsey, topped sales estimates for the fourth quarter, bolstered by larger merchants that are contributing an increasing share of Square’s payments volume. The shares climbed as much as 6.2 percent in extended trading.
How to Handle Your Home During Divorce
The marital home is many couples’ most valuable asset, so deciding what to do with it during divorce can be difficult. You and your soon-to-be ex have two basic options: sell the home, or one of you stays in it.
What Popeyes Just Shared Explains Why It Needed to Quickly Sell Itself to Burger King
It’s a good thing Popeyes Louisiana Kitchen was bought by Restaurant Brands International on Tuesday because its 2016 fourth quarter earnings were far from savory. After Wednesday’s market close, Popeyes reported fourth quarter earnings of 44 cents a share, lower than the 47 cents a share analysts expected.
How Starboard Hopes to Extract Value From Tribune
The fund recently disclosed a stake in the broadcaster, an investment suggesting a campaign pushing for stock buybacks, asset sales or an auction of the whole company could be next. Starboard Value ‘s Jeff Smith recently disclosed a 6.6% stake in Tribune Media , one of the fund’s largest positions and an investment that suggests an activist campaign pushing for stock buybacks, asset sales or even an auction of the whole company could be next.
Treasury Secretary Mnuchin: Stronger Dollar is a ‘Good Thing’
The strength of the U.S. dollar demonstrates a stronger sense of confidence in the U.S. economy, U.S. Treasury Secretary Steven Mnuchin told the Wall Street Journal . Furthermore, the dollar’s performance when compared to the rest of the world is a good thing, in the long run, Mnuchin added.
Paramount’s Brad Grey to Leave Studio as Viacom Cleans House
Viacom CEO Bob Bakish continued his aggressive reorganization of the media conglomerate on Wednesday, announcing that Brad Grey will leave as CEO of Paramount Pictures. In a mover that follows a reorganization of Viacom’s cable TV network group, Bakish on Wednesday announced that Brad Grey will leave Paramount Pictures after 12 years atop the Hollywood studio.
Verizon and Yahoo! Finally Have a New Deal in Place, But Now What?
To meet its ambitious digital media sales targets, the newly combined entity will have to make up some serious ground against Facebook and Google. Verizon is aiming to generate $20 billion in 2020 sales from the mobile media unit that draws on Yahoo, AOL and its other digital properties.
Why Billionaire Warren Buffett Is Dead Wrong About Walmart
Normally following the Oracle of Omaha’s investment decisions makes sense. But, he might have missed the mark in this case as Walmart’s better-than-expected fourth quarter earnings have sent the stock nicely higher.
Three Big ETF Themes for 2017
As investors shift around their portfolios in anticipation for what’s ahead, State Street Global Advisors offers some big exchange traded fund themes to better manage risk and potentially enhance returns.
Bond ETFs for a Rising Rate Environment
The U.S. economy has picked up momentum, along with inflation, fueling expectations of a tightening monetary policy out of the Federal Reserve to head off an overheating economy. Consequently, fixed-income investors may consider an interest-rate hedged exchange traded fund strategy that can hold up during periods of rising rates.
Spirit Air CEO Sees No-Frills Seats Backfiring on Largest Rivals
A surge of no-frills seats at the biggest U.S. carriers potentially will backfire as passengers discover all the perks they’re giving up, said the chief executive officer of discounter Spirit Airlines Inc. Prohibitions on changing a reservation or bringing a roll-on bag may disappoint some customers of the new fares at American Airlines Group Inc. and United Continental Holdings Inc., Spirit CEO Bob Fornaro said Wednesday. While Spirit charges for carry-ons and even soft drinks, at least customers know what they’re getting, he said.
Prudential May Press Wells Fargo as Fake-Account Fallout Spreads
Prudential Financial Inc., facing regulatory scrutiny and lawsuits over a sales relationship with Wells Fargo & Co., said it may press its partner to cover costs after halting the offering — another sign the bank has yet to contain the full fallout of its bogus-account scandal. Prudential “has provided notice to Wells Fargo that it may seek indemnification,” the Newark, New Jersey-based insurer said in a Feb. 17 regulatory filing, referring to their agreement to sell MyTerm life coverage to Wells Fargo customers.
Tesla Model 3 on Track as Musk Posts Narrower Quarterly Loss
Tesla Inc. posted a narrower quarterly loss than estimated and said the much-anticipated Model 3 electric sedan remains on schedule, as Chief Executive Officer Elon Musk closes in on his pursuit of more mainstream car buyers. The electric-car maker expects to deliver as many as 50,000 vehicles in the first half of the year and still sees Model 3 production starting in July, according to a letter to shareholders Wednesday.
Barclays Said to Cut Investment Bank Bonus Pool for Third Year
Barclays Plc cut the bonus pool for its investment bank by a similar amount to last year’s decline, when it was reduced 7 percent, a person with knowledge of the matter said. The pool fell in part because of job cuts and a hiring freeze during 2016, said the person, who asked not to be identified because the information isn’t public.
How major US stock market indexes fared on Wednesday
US stocks ended mostly lower Wednesday, but the Dow notched its 9th straight gain. Energy companies stumbled, but basic materials makers rose as investors hoped two large deals will win approval from regulators.
Trump has a problem: Americans increasingly think he’s…
Donald Trump has already set a record for being the most unpopular new president since the invention of telephone polling. But I don’t think job approval is even the poll number Trump should be most worried about.
Scott Pruitt’s emails reinforce his coziness with the very…
After a close Senate vote on Friday, Scott Pruitt ascended from the position of frequent critic of the Environmental Protection Agency to become its boss. Up until the last minute before the vote, Democrats objected to the former Oklahoma Attorney General’s confirmation.
Russia creates propaganda force to wage information warfare…
The Russian Defense Ministry has formalized its information-warfare efforts with a dedicated propaganda division, Russian state-run media reported on Wednesday, the Associated Press notes. “Propaganda needs to be clever, smart and efficient,” said Russian Defense Minister Sergei Shoigu in reference to the new unit.