President Donald Trump defended Jeff Sessions on Thursday, calling the embattled attorney general an “honest man” targeted by a Democratic “witch hunt” over his reported contacts with the Russian ambasador. However, the president did note that Sessions could have been clearer during his confirmation hearings, when Sessions denied having discussions with the Russians.
Day: March 2, 2017
A notoriously abusive detention center nicknamed ‘Ritmo’ may…
Immigrations and Customs Enforcement is considering reactivating the vacant Willacy County Correctional Facility in Raymondville, Texas, according to Texas Monthly , prompting concerns about the center’s history of abuse, neglect, and other illegal activity. The news comes as ICE rapidly moves to expand its detention capacity along the Mexican border, under instruction from Secretary of Homeland Security John Kelly.
A bright orange star will vanish behind the moon this weekend,…
If you live in the United States and the weather cooperates, chances are good that you can watch a bright star called Aldebaran briefly disappear that evening. What’s more, all you need are your naked eyes – no telescope or binoculars required .
Caterpillar Goes From White House Kudos to Multi-Agency Raid
One week ago, Caterpillar Inc. was being praised by President Donald Trump for producing great bulldozers. “I love Caterpillar,” Trump told company Chairman Doug Oberhelman at a meeting of manufacturing heads at the White House.
China Markets Chief Exits Crisis Mode With Cautious Reforms
One year into his job as China’s top securities regulator, Liu Shiyu is shifting focus from fighting market crises to pushing through cautious reforms. After arriving at the China Securities Regulatory Commission in the wake of a stock-market meltdown last February, Liu spent much of his early tenure trying to revive investor confidence.
Where South Korea’s Teetering, Debt-Laden Companies Go to Bank
South Korea’s state-owned lender, the nation’s largest policy bank, and other creditors turned down a bailout request from Hanjin, then one of the world’s biggest shipping lines. That in turn led to a bankruptcy filing in Seoul and a major disruption in global shipping as more than 90 Hanjin ships were marooned offshore and ports in the U.S., Asia and Europe turned the company’s ships away.
Wagoner on radio: How does Cumulus pay down accumulating debt with a new plan?
Cumulus Media, owner of 447 radio stations nationwide including KABC and KLOS locally, was dealt a huge blow last week in its effort to reduce its debt. Reuters reports that a federal judge rejected a plan that would have allowed the company to exchange a portion of its $2.4 billion in debt with … other debt.
EPA Withdraws Obama-Era Request for Data On Oil, Natural Gas
The Environmental Protection Agency said Thursday it is withdrawing an Obama-era request that oil and natural gas companies provide information on methane emissions at oil and gas operations. EPA Administrator Scott Pruitt said the withdrawal is effective immediately, adding that he wants to assess the need for the information the agency has been collecting under a directive issued in November.
Report: Robots threaten to replace 80 million jobs in U.S.
Mar. 02, 2017 – 3:38 – Brian Brenberg, economics professor at The King’s College, on how technology will replace manufacturing jobs in the U.S.
The Historical Significance of Tax Reform
Mar. 02, 2017 – 5:24 – ‘Game of Thorns’ author and presidential historian Doug Wead outlines the historical significance of tax reform.
Nintendo’s Switch Goes on Sale Targeting New Video Gaming Niche
Nintendo Co.’ s test of whether it can combine mobile and home gaming with a single machine begins on Friday with the debut of Switch, its next-generation console.
Former FCC Chairman Tom Wheeler blasts his replacement, supports net neutrality
Former FCC Chairman Tom Wheeler blasts his replacement, supports net neutralityIt’s only been a month since Tom Wheeler stepped down from his post as chairman of the U.S. Federal Communications Commission, but he’s already lined up a new gig. In late February, Actility, a Paris-based Internet of Things management firm, signed on Wheeler as the newest member of its board.
FCC puts robocalls, prison phones at the top of its agenda – CNET
On Thursday, newly minted Federal Communications Commission Chairman Ajit Pai released the agency’s agenda for the month, with six items it will discuss and vote on March 23. At the top of the list is killing robocalls — those automated phone calls that annoy the entire nation. Pai has been working fast to kill regulation and policies like net neutrality — the concept that all internet traffic must be treated as equal — that the previous administration enforced.
Top Bush ethics lawyer: Russia could have blackmail on…
President George W. Bush’s top ethics lawyer told Business Insider on Thursday that while it was “debatable” whether Attorney General Jeff Sessions perjured himself during his Senate confirmation hearing, he must resign. Richard Painter, a professor at the University of Minnesota Law School who was the chief White House ethics lawyer from 2005 to 2007, added the latest Russia-related White House firestorm could leave Sessions open to the risk of “blackmailing.”
Yahoo Reveals New Details of Major 2013-2016 Security Breaches
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China’s $8 Trillion Bond Treasure Spurs Hiring at Global Funds
Speculation that China’s 56.3 trillion yuan bond market is about to go more global is spurring investment funds to hire in the nation. A central bank official said at the end of last year that China will create conditions for the inclusion of yuan debt in global indexes.
Platform Specialty Products: Cramer’s Top Takeaways
In an “Executive Decision” segment, Cramer spoke with Rakesh Sachdev, CEO of Platform Specialty Products , the agriculture and industrial roll-up company which has seen its shares double over the past 12 months. Yesterday, Platform Specialty delivered a two-cents-a-share earnings beat.
Box: Cramer’s Top Takeaways
For an “Executive Decision” segment, Cramer spoke with Aaron Levie, co-founder, chairman and CEO of Box , the cloud software provider with shares that are up 20% for 2017, but fell 8% today after a strong quarter with tepid guidance. Levie touted Box’s “massive” milestone this quarter of becoming free cashflow positive, just as they had predicted more than two years ago.
A personalized radio service of podcasts
If you’re a podcast addict but want a little more function from your app, consider Stitcher – a sort of personalized radio service that lets you make playlists of your podcasts and feeds you recommendations based on the shows to which you’re already listening. You can search for podcasts and add them to your favorites playlist.
Costco Has Just Made It More Expensive for 35 Million People to Shop for Giant Mustard Bottles
For Costco’s millions of members in the U.S. and Canada, maintaining the privilege of shopping the warehouse retailer’s no frills stores for discounted bulk food will cost a little more later this year. On Thursday, the wholesale retailer said it would hike the price of its Goldstar membership by $5 per year to $60.
Move Over, Snap, Many Oil & Gas IPOs Are Coming
This column originally appeared at 5 ET on Real Money, our premium site for active traders. Click here to get great columns like this from Jim Cramer and other writers even earlier in the trading day.
How Snap’s Market Debut Compared With the IPOs of Twitter, Facebook
Snap’s shares jumped 44% on Thursday, while Twitter soared 73% in its market debut and Facebook rose less than 1%. In the lead-up to Snap’s successful IPO on Thursday, many investors were already comparing the company to Facebook and Twitter .
Overnight Tech: Tech firms back teen in transgender rights case |…
MORE TECH COMPANIES TAKE ON TRANSGENDER RULING: Major technology companies including Apple, Amazon, Twitter and Intel on Thursday officially signed an amicus brief in support of a Supreme Court case regarding protections for transgender students. The brief, organized by the Human Rights Campaign , is in favor of a suit brought by transgender student Gavin Grimm.
The Economy’s Visible Hands
The Fed is dominated by stodgy economists without business experience. But would we like it any better if it was staffed by CNBC junkies? Peter Conti-Brown reviews “Fed Up: An Insider’s Take on Why the Federal Reserve Is Bad for America” by Danielle DiMartino Booth.
Whoa s heading for space on Muska s mysterious mission?
SpaceX’s Dragon cargo ship is captured by astronauts at the International Space Station on Thursday, Feb. 23, 2017, a day after a GPS problem prevented the capsule from coming too close. The other day, we took a wild guess and came up with some names of possible ticket-buyers who want to circle the Moon on Elon Musk’s rocket.
Hedge Fund Prologue to Close After Political Bets Misfire
Prologue Capital, the $775 million macro hedge fund run by David Lofthouse and Graham Walsh, is closing after more than a decade as clients pulled their money amid poor performance. “Last year we started well but we got the big political events wrong, it’s as simple as that,” Walsh said in an emailed statement Wednesday.
Poll: A Majority Says ‘Move On’ From Protesting Trump
But a majority of voters would tell protesters: “it’s time to move on.” That’s according to a Fox News Poll of registered voters released Thursday.
Snap Juices IPO Market, More Deals Coming: NYSE’s Tom Farley
Snap Inc. , the parent company of messaging app Snapchat, made its debut on the New York Stock Exchange Thursday, surging 44 percent on its first day of trading. The stock opened at $24 a share, above the IPO price of $17, and is the biggest U.S. listed tech debut since China’s Alibaba Group Holding in 2004.
NYSE President Farley on Snap’s IPO
Mar. 02, 2017 – 4:05 – NYSE President Tom Farley on tech IPOs and how to convince more companies to list on the NYSE.
Is Snap overhyped?
Mar. 02, 2017 – 3:22 – Amish Shah, managing partner at Sierramaya360, Lance Ulanoff of Mashable, and FBN’s Lori Rothman on Snap’s IPO and whether it’s a good investment.
Snap Leaps in Debut Even as Concerns Over Growth Threaten Rally
Snap Inc. surged 44 percent in its stock market debut, valuing the disappearing-photo app maker at more than $28 billion. That’s a vote of confidence in the company’s ability to grow quickly and fulfill its promise of new products to change how people communicate.
Goldman Irks Staff With Rules on Mobile Perks, $10 for Data
Goldman Sachs Group Inc.’s dealmakers endured job cuts and a tough bonus season. Then the penny pinchers turned to their beloved phones.
Caterpillar, a Trump Darling, Lands in Government Crosshairs
Caterpillar Inc., the bellwether U.S. equipment maker praised just last week by President Donald Trump, now finds itself a government target as federal tax and banking authorities raided its Illinois offices. The investigation comes as new Chief Executive Officer Jim Umpleby shifts its global headquarters to Chicago to bolster the machinery maker’s push into foreign markets.
Chaebol’s `Grim Reaper’ Prosecutor Takes Aim at Samsung’s Lee
Special prosecutor Park Young-soo is going after South Korea’s most powerful business leaders and politicians, but he’s faced tougher opponents before. In 2015, Park was slashed in the neck with a box cutter by a man he defeated years earlier.
What Falling Fed Funds Chatter Really Means
Not that long ago, market analysts and commentators spent most of their time combing over comments made by Federal Reserve members in hopes of gaining an edge in regard to the next change in monetary policy. Nearly a decade of talking, writing and fawning over the Fed resulted in a mere two interest rate hikes, and at the precise moment the Fed appears to be poised to begin taking meaningful action, market participants simply don’t care anymore.
Is This The Best Biotech Play for 2017?
Last year, a political spotlight on drug pricing policies threatened the entire industry. Scandals at Mylan and Valeant Therapeutics did damage to the entire sector, sending the share prices of many biotech companies down.
Costco Reports Net Sales Up 6% in Q2 and Membership Fee Increase
Costo’s hiking the price of yearly individual memberships by $5 to $60, and executive memberships are going up to $120. As expected, warehouse-club membership company Costco didn’t disappoint investors with its latest earnings, which it reported after the bell on Thursday.
You’ll soon be able to get a Big Mac delivered to your door. But will you want to?
After a two-month test run in Florida, McDonald’s said this week it is preparing to roll out meal delivery in the United States. The hope, the fast-food giant said, was to make up for years of slipping sales by making one of the world’s most ubiquitous chains even more inescapable.
FCC halts regulations to protect data security
The Federal Communications Commission is delaying new data security rules that were supposed to take effect today. Those regulations, approved by the Obama administration last year, were part of a package of rules that limit how internet providers use and sell customer data.
Yesterdays
Conway High West students stuck it to a couple of math teachers and a very lucky senior during lunchtime in the cafeteria. Conway math teachers, Shiloh Harder and Steve Reed, along with Grant Blaylock, a senior FBLA officer and football player, were taped to the wall with duct tape.