Netflix employees were personally affected by U.S. President Donald Trump’s attempt to ban people entering from seven Muslim countries, the company’s CEO said Tuesday. Reed Hastings has been a critic of the temporary travel ban, which Trump hopes to revive in a revised form this week, and told The Associated Press on Tuesday that some of his co-workers had gotten caught up in it.
Month: February 2017
Trump wants to cut $54 billion in spending from domestic…
Trump wants to cut $54 billion in spending from domestic agencies – that’s enough to wipe several of them out On Monday, administration officials told various news outlets that President Trump’s forthcoming budget proposal will include a $54 billion increase in defense spending. To pay for it, the Trump administration plans to cut the budgets of domestic agencies including the Environmental Protection Agency, the State Department, and various foreign aid programs.
Trump wants to cut $54 billion in spending from domestic…
Trump wants to cut $54 billion in spending from domestic agencies – that’s enough to wipe several of them out On Monday, administration officials told various news outlets that President Trump’s forthcoming budget proposal will include a $54 billion increase in defense spending. To pay for it, the Trump administration plans to cut the budgets of domestic agencies including the Environmental Protection Agency, the State Department, and various foreign aid programs.
New FCC chairman to fix net neutrality ‘mistake’
Ajit Pai, chairman of the Federal Communications Commission, called the net neutrality rules a “mistake” on Tuesday. It’s his strongest statement on the issue since being appointed to the top spot by President Trump last month.
New FCC chair vows ‘light-touch’ approach to regulation
The new Republican head of the U.S. Federal Communications Commission promised “light-touch” regulation of areas such as the internet, a dramatic shift away from the Obama administration’s approach to telecommunications oversight. Ajit Pai, whom President Donald Trump named in January to chair the FCC, said at the Mobile World Congress in Barcelona that the agency made a “mistake” in 2015 when it adopted landmark “net neutrality rules” reclassifying internet service like a public utility.
6 ways Chairman Pai can stop FCC overreach
Upon being named the new chairman of the Federal Communications Commission on Jan. 21, Ajit Pai swiftly made clear his intent to reverse the agency’s recent pattern of regulatory overreach. To his credit, Pai already has moved quickly to shift the FCC’s primary focus from imposing new restrictions on broadband services to encouraging more broadband availability for all Americans by employing less heavyhanded interventionist means.
REFILE-UPDATE 1-Telecoms companies call on Brussels to reconsider merger policy
BARCELONA, Spain, Feb 28 The European Commission should help telecoms companies whose revenues it has eroded through consumer-friendly regulation by allowing more mergers to help them to build scale and boost investment, the CEOs of Vodafone and Orange said on Tuesday. European regulators are still underestimating how the present framework hinders the capacity of telecoms operators to sustain investment, unlike the regulatory landscape enjoyed by their U.S. peers, the carriers argue.
REFILE-UPDATE 1-Telecoms companies call on Brussels to reconsider merger policy
BARCELONA, Spain, Feb 28 The European Commission should help telecoms companies whose revenues it has eroded through consumer-friendly regulation by allowing more mergers to help them to build scale and boost investment, the CEOs of Vodafone and Orange said on Tuesday. European regulators are still underestimating how the present framework hinders the capacity of telecoms operators to sustain investment, unlike the regulatory landscape enjoyed by their U.S. peers, the carriers argue.
FCC Chair: Net Neutrality a Mistake
Calling the Open Internet Order adopted by the Federal Communications Commission two years ago a “mistake,” new FCC chairman Ajit Pai today told attendees at the Mobile World Congress in Barcelona that the agency intends to return to a “light-touch approach” to regulations. MWC 2017, running this week from Feb. 27-March 2, is the mobile industry’s largest annual conference and expo.
A great majority of our nation’s small business owners are old, white men
Two weeks ago the Kauffman Foundation, a well-regarded non-profit group that specializes in entrepreneurism, released its annual State of Entrepreneurship report – and at least in one respect, the news is encouraging. The report found that, despite still being below the peak that preceded the Great Recession, private enterprise is rebounding and entrepreneurs are driving a resurgence of business activity in America.
FCC Extends Form 477 Deadline Due to Technical Issues
On February 24, 2017, the Federal Communications Commission issued a Public Notice extending indefinitely the deadline to submit the FCC Form 477 report due to “technical difficulties in the filing interface.” The Commission will announce the new filing deadline via a separate public notice once these issues are resolved.
Top U.S., Chinese Diplomats Meet to Discuss Relationship
U.S. Secretary of State Rex Tillerson and Chinese State Councilor Yang Jiechi discussed improving and maintaining a “mutually beneficial economic relationship” between the United States and China, the State Department said on Tuesday. Tillerson and Yang, China’s top diplomat, also affirmed the importance of “regular high-level engagement” between the two countries during their meeting in Washington, and discussed North Korea’s nuclear program, the State Department said in a statement.
What Do You Buy When Trump Wins? A Bentley
Buyers are feeling more confident about shelling out six figures for a set of wheels as market investors have been on a tear in recent months, pushing the Dow Jones Industrial Average solidly past 20000, on bets that the Trump administration will enact business-friendly policies. Sales of vehicles made by Volkswagen AG’s Bentley, Ferrari SpA , Fiat Automobiles NV’s Maserati, Porsche AG and BMW AG’s Rolls-Royce jumped an estimated 18% since the Nov. 8 U.S. presidential election through January, compared with the same period in 2016, according to Autodata Corp. That far outpaces the gains these upscale brands had been notching through the prior 10 months.
What Do You Buy When Trump Wins? A Bentley
Buyers are feeling more confident about shelling out six figures for a set of wheels as market investors have been on a tear in recent months, pushing the Dow Jones Industrial Average solidly past 20000, on bets that the Trump administration will enact business-friendly policies. Sales of vehicles made by Volkswagen AG’s Bentley, Ferrari SpA , Fiat Automobiles NV’s Maserati, Porsche AG and BMW AG’s Rolls-Royce jumped an estimated 18% since the Nov. 8 U.S. presidential election through January, compared with the same period in 2016, according to Autodata Corp. That far outpaces the gains these upscale brands had been notching through the prior 10 months.
Does Snap CEO Evan Spiegel Need Adult Supervision?
In this Thursday, Oct. 24, 2013, file photo, Snapchat CEO Evan Spiegel poses for a photo in Los Angeles. Snap Inc., owner of the ephemeral message service Snapchat, seeks to raise up to $3 billion in an initial public offering.
Does Snap CEO Evan Spiegel Need Adult Supervision?
In this Thursday, Oct. 24, 2013, file photo, Snapchat CEO Evan Spiegel poses for a photo in Los Angeles. Snap Inc., owner of the ephemeral message service Snapchat, seeks to raise up to $3 billion in an initial public offering.
Why Obamacare reform is part of the stock market equation
Feb. 28, 2017 – 4:29 – Former Goldman Sachs Partner Peter Kiernan on the market rally, and how Obamacare reform affects the markets.
What’s the buzz? Pot-growing lights vex ham radio operators
Retired Coast Guard officer Roger Johnson sometimes notices a harsh buzz when he turns on his amateur radio, and he blames high-powered lighting used to grow pot. Amateur radio operators say the legalization of marijuana is creating a chronic nuisance thanks to interference caused by electrical ballasts that regulate indoor lamps used to grow pot.
FCC Will Return to – Light-Touch’ Regulation, Chairman Says
The Federal Communications Commission will return to “light-touch” regulation to maximize investments in broadband, Chairman Ajit Pai said at the Mobile World Congress in Barcelona. “Our approach will be not zero regulation but light-touch regulation,” Pai said onstage Tuesday at the annual industry event.
China’s CLSA Brokerage Shuts Down U.S. Equity-Research Operation
CLSA Americas LLC, the U.S. brokerage owned by China’s Citic Group Corp., shut down its equity-research operations Monday. “It is with a heavy heart that I tell you that as of today my client CLSA Americas is no longer open for business,” Melissa Sheer, a spokeswoman for the firm at Kent Place Communications, wrote in an e-mail, referencing the U.S. arm of Hong-Kong based CLSA Ltd. “As such, Equity Research is completely shut down in the U.S.” CLSA asked its 1,500 workers globally in September to take as many as 10 days of unpaid leave through March as it sought ways to cut costs.
Valeant’s Declining Sales Show Turnaround Has Long Way to Go
The drugmaker reported a sharp drop in sales last quarter, and still has $30 billion in debt hanging over its balance sheet that can only be dealt with by selling assets or improving cash flow. On Tuesday, Valeant said that sales and profit this year will decline further, sending its shares and bonds down.
Stock plunges, trading halted in owner of Kay and Jared jewelry chains after Post report
The parent company of Sterling Jewelers, which owns Jared the Galleria of Jewelry and Kay Jewelers, halted trading in its stock Tuesday after shares plunged to a four-year low. The Washington Post reported on Monday evening that about 250 former employees allege in sworn statements that the company’s chief executive and other leaders fostered a culture of rampant sexual harassment and discrimination.
FCC announces cooperation agreement with Indian counterpart
The Federal Communications Commission announced on Tuesday a partnership with its Indian counterpart, the Telecom Regulatory Authority of India . During the Mobile World Congress summit in Barcelona, Spain, FCC Chairman Ajit Pai signed a non-binding agreement with TRAI Chairman R.S. Sharma to cooperate with the Indian agency and share best practices.
Verizon Doesn’t Need to Own “Traditional Linear TV Content,” Says CFO
“It’s important to us that we have mobile digital rights to some of the content that we think will be important in a mobile bundle,” Matt Ellis tells an investor conference. While telecom giant AT&T has agreed to acquire Time Warner for $85.4 billion, rival Verizon continues to feel it doesn’t need to buy a big entertainment company, Verizon CFO Matt Ellis told an investor conference Tuesday.
How AI Is Changing The Way Companies Are Organized
Artificial Intelligence may still be in its infancy, but it’s already forcing leadership teams around the world to reconsider some of their core structures. Advances in technology are causing firms to restructure their organizational makeup, transform their HR departments, develop new training models, and reevaluate their hiring practices.
The 10 Most Innovative Companies In Space 2017
After NASA embraced the private space industry, the investment dollars began flowing. In 2015, more than $2 billion in bets were placed on space startups, but in 2016 things came back down to Earth-a 30% decrease year-over-year, according to CBInsights .
Germany Sells 2-Year Notes at Record Low Yield of -0.92%
Germany sold $4.4 billion in government debt Tuesday that will guarantee investors a capital loss if they are held to maturity. Germany sold a 4.145 billion in government debt Tuesday that will guarantee investors a capital loss if they are held to maturity.
How to Play a Gamestop Breakout Rally
Shares of the video game and accessories retailer GameStop are forming a basing pattern just below their 200 day moving average. Bullish technical divergences suggest a breakout is imminent and the large outstanding short interest could spark a covering rally that has the potential to realize an 18% gain.
Is Illumina On The Verge of a Breakout?
Illumina has been tracing out a narrow consolidation pattern for the last seven weeks. Yesterday’s impressive 4.25% gain, which was the second-best performance in the Nasdaq 100, may soon spark an end to this bullish pennant formation with a fresh rally leg.
These 5 Stocks Under $10 Are Breaking Out
Here’s an interesting piece of market psychology for 2017: some of the biggest gains in this market are coming from the lowest-priced stocks. That’s not a new phenomenon.
Rev’s Forum: An Unnatural Market Uptrend
“There is nothing constant in the universe. All ebb and flow, and every shape that’s born, bears in its womb the seeds of change”.
Market Threesome: Breadth, Bonds and Utilities
I actually heard a guy on television Monday state that he wants no details at all when the president gives his speech to Congress on Tuesday. So I suppose that is what it has come down to, folks prefer the market rise on “what ifs” rather than on “what is.”
FCC Chairman wants to bring faster, cheaper broadband to all – CNET
The newly christened chairman of the Federal Communications Commission likely won over the telecom-centric audience at a keynote session during the Mobile World Congress trade show on Tuesday. In his prepared remarks, Pai laid out a vision of light-touch regulation and reversing the policies of his predecessor, Tom Wheeler.
Wall Street Wants Substance From Trump’s Congressional Address
Investors will be closely eyeing the president’s first address to a joint session of Congress Tuesday night for details of his economic-growth plan. Following a meeting with state governors on Monday, Trump said his administration will move “very, very quickly” on easing regulatory burdens, and plans to submit a budget to Congress next month focused on public safety and national security.
Global Oil Broadly Flat, in Tight Range
Global oil prices were broadly flat on Tuesday, continuing to trade in a tight range with OPEC’s bullish production cuts offset by increasing crude production from the United States. The Organization of the Petroleum Exporting Countries has so far surprised the market by showing record compliance with oil-output curbs, and could improve in coming months as the biggest laggards – the United Arab Emirates and Iraq – pledge to catch up quickly with their targets.
Growing problem: Pot lights give ham radio operators a buzz41 minutes ago
Retired Coast Guard officer Roger Johnson sometimes notices a harsh buzz when he turns on his amateur radio, and he blames high-powered lighting used to grow pot. Amateur radio operators say the legalization of marijuana is creating a chronic nuisance thanks to interference caused by electrical ballasts that regulate indoor lamps used to grow pot.
5 Judge to hear arguments on Dakota Access oil pipeline work
A federal judge will hear arguments Tuesday about whether to stop the final bit of construction on the disputed Dakota Access pipeline, perhaps just days before it could start moving oil. U.S. District Judge James Boasberg in Washington will consider a request by the Standing Rock and Cheyenne River Sioux tribes to order the Army Corps of Engineers to withdraw permission for developer Energy Transfer Partners to lay pipe under Lake Oahe in North Dakota.
The company is behind political thriller ‘Spin’ and crime series ‘Profilage.’
U.K. TV giant ITV said Monday that it has acquired a majority stake in Tetra Media Studio, the French TV production firm behind such dramas as crime series Profilage , now in its seventh season, and Les Hommes de l’Ombre , the political thriller known in Britain under its English-language title Spin . ITV has acquired production firms in the U.S., U.K. and beyond as CEO Adam Crozier has been looking to diversify revenue streams beyond TV advertising.
SoundCloud Undercuts Spotify With Low-Price Plan
SoundCloud Ltd. has become the first of the largest on-demand music services to cut subscription prices to $4.99 per month, a step many music industry executives say is needed to turn users of YouTube and other free services into paying customers. SoundCloud, which earlier this year warned it may run out of money without more paying customers, is undercutting the $9.99 per month cost of a subscription of larger rivals Spotify Ltd. and Apple Inc. The plan offers 120 million songs, no ads and the ability to listen offline.
Samsung’s Big Deals, Decisions Seen on Hold as Lee Faces Trial
The indictment of Samsung Electronics Co. de facto chief Jay Y. Lee and four other top executives on bribery and embezzlement charges threatens the company’s ability to make major strategic decisions, including acquisitions and management changes.