One of Uber’s biggest assets is about to face a stress test that will expose the extent of the damage the company has suffered after being shaken by a string of scandals. Uber will distribute annual bonuses to employees next week – a ritual that many people inside and outside the company think could trigger an exodus of employees.
Day: March 10, 2017
The Army just opened an investigation into allegations of…
The US Army has opened an investigation into allegations that some active-duty soldiers may be involved in the online sharing of nude photos of their colleagues, Business Insider has learned. The inquiry by the US Army’s computer crime investigative unit comes one day after Business Insider reported that the scandal initially believed to be limited to the Marine Corps actually impacts every branch of service.
How to Cancel a Check
When you lose a personal check or it’s stolen, you’re not out of luck. You can ask your bank or credit union to cancel the check – also known as a stop payment order – but timing can be crucial, so follow these four steps as soon as possible.
Caterpillar Tax Probe Gathers Steam
For Jim Umpleby, who took charge as Caterpillar’s chief executive little more than two months ago, an escalating criminal investigation threatens to upstage the heavy-machinery maker’s efforts to regain footing in global construction and mining markets. The manufacturing giant has faced several investigations in recent years into whether it is paying enough U.S. taxes.
Tradable Decline Ahead; Check the Crystal Ball: Best of Kass
In highlights from this week’s trading diary and posts, Kass discusses the tradable decline that lies ahead, and also checks in on his crystal ball’s accuracy. Doug Kass fills his blog on RealMoney every day with his up-to-the-minute reactions to what’s happening in the market and his legendary ahead-of-the-crowd ideas.
Nissan, Ford, BMW Sue Takata Over Faulty Airbag Losses
Nissan Motor Co., BMW of North America and Ford Motor Co. accused Takata Corp. of fraud in a lawsuit seeking to force the airbag manufacturer to cover losses they incur because of its faulty inflators that have been linked to at least 17 deaths worldwide.
Nintendo Makes the ‘Switch’ With a New Hybrid Game Console
Nintendo of the America President & COO Reggie Fils-Aime on the Nintendo Switch's instant success, and the strategy behind its release. Nintendo’s new game console, Switch, may be the hottest thing to hit the video gaming industry since Pokmon Go.
LA County, Inland Empire post heavy job losses in January
This Jan. 9, 2014 staff file photo shows machinist Nelson Saravia operating a CNC machine, which makes the hydraulic manifold for a helicopter at Warmelin Precision Products in Hawthorne.
Trump has made his FDA pick – here’s what that could mean…
Gottlieb is a resident fellow at the American Enterprise Institute and venture partner at New Enterprise Associates. He previously served as former deputy commissioner of the FDA during George W. Bush’s presidency.
Alphabet’s crazy balloon experiment has a new CEO after the…
Project Loon, the high-flying internet-delivering balloon subsidiary of Alphabet’s X semi-secret skunkworks, has a new CEO after the previous one only lasted about six months, reports Bloomberg’s Mark Bergen. Alastair Westgarth, formerly the CEO of wireless antennae company Quintel, will be the CEO of Project Loon.
Fox News reporter gets into heated exchange with Sean Spicer…
White House press secretary Sean Spicer got into a testy exchange with several reporters during Friday’s press briefing over former National Security Adviser Mike Flynn’s paid lobbying for Turkish interests. Flynn, who was fired from his White House job, registered as a foreign agent with the Justice Department earlier this week.
A hedge fund with big-name backing has suffered another blow
Rayne Gaisford, the director of risk management, left in recent weeks and plans to work in consulting, according to people familiar with the situation. Gaisford’s departure marks at least the third in recent weeks at a senior level.
LendingTree: Cramer’s Top Takeaways
For his “Executive Decision” segment, Cramer sat down with Doug Lebda, founder, chairman and CEO of LendingTree , a stock that’s up 17% for the year after the company reported blowout earnings two weeks ago. Lebda first responded to questions about his company’s very successful stock buyback program by saying that it was a smart decision at a smart time and he remains committed to his shareholders.
Google’s Uber Lawsuit Reflects the High-Stakes Battles Over Intellectual Property
Alphabet unit Waymo’s request that a federal judge in California halt Uber from using its self-driving automotive technology reflects the high stakes placed on intellectual property that is fueling the emerging businesses of Silicon Valley. As Waymo charges that an ex-manager took IP to recent Uber acquisition Otto, Tesla has filed suit against the former director of its self-driving car unit for allegedly trying to poach staff and steal data for a rival startup.
Optical Component Stocks Might Deserve a Look Following Finisar’s Tumble
For all the good news that optical component suppliers have seen over the last 12 months or so, it’s been hard to forget the fact that many of the telcos that have historically accounted for a big portion of optical equipment spending aren’t seeing much growth, and spending accordingly. Or that the industry in the past has been quite cyclical, with major growth spurts followed by sharp downturns.
TCPA Petition Could Cause Multiple Industries to Break Laws, Trade Groups Find
ETA: Meghan M. Cieslak mcieslak@electran.org Washington, D.C. – The American Financial Services Association, the Consumer Bankers Association, the Credit Union National Association, the Financial Services Roundtable, National Association of Federally-Insured Credit Unions, and the Electronic Transactions Association today sent a joint letter to the Federal Communications Commission regarding the Petition for Rulemaking and Declaratory Ruling regarding prior express consent under the Telephone Consumer Protection Act . In the letter, the trade groups request a denial of the petition and lay out seven reasons why it would prove harmful in today’s economy.
Trump’s head-spinning shift on the economy has left his supporters behind
Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events In this June 1, 2016, photo, Republican presidential candidate Donald Trump wears his “Make America Great Again” hat at a rally in Sacramento, Calif. In the opening moments of his presidency, Donald Trump used his inaugural address to paint a picture of a bleak economy, where wealth was consolidated among a cadre of insiders while the Americans he promised to support were left to languish in “carnage.”
VW pleads guilty in diesel emissions case as part of $4.3 billion settlement
Volkswagen pleaded guilty Friday to fraud, obstruction of justice and falsifying statements as part of a $4.3 billion settlement reached with the Justice Department in January over the automaker’s diesel emissions scandal. It was the first time the company has pleaded guilty to criminal conduct in any court in the world, a company spokesman said, and comes as the automaker strives to put the most expensive auto industry scandal behind it.
Week in Review: S&P 500 Suffers Worst Weekly Loss of 2017 as Crude Oil Hits Skids
Stocks are dragged from recent records this week as crude oil suffers a days-long selloff that pummeled it down to its lowest levels this year. Stocks were dragged from recent records this week as crude oil suffered a days-long selloff that pummeled it down to its lowest levels this year.
Uber Deal Giving Drivers $1 Each Fails to Win Over Judge
Uber Technologies Inc. failed to persuade a judge to approve a settlement offering 1.6 million California drivers an average of $1.08 each to dispense with alleged labor-code violations that their lawyer earlier claimed might have been worth billions of dollars. Los Angeles Superior Court Judge Maren Nelson issued a tentative ruling rejecting a deal aimed at resolving one of the dozen-plus U.S. lawsuits challenging the company’s contractor-based business model.
Bitcoin Plummets 18% as SEC Rejects Winklevoss ETF Proposal
Bitcoin’s price plummeted after U.S. regulators rejected a proposal by the Winklevoss twins for a publicly traded fund based on the digital currency, dashing hopes that a government-approved investment vehicle would lead to wider interest in virtual money. The Securities and Exchange Commission refused to grant an exemption that would have let the Winklevoss Bitcoin Trust trade on the Bats BZX Exchange, according to a filing posted Friday on the regulator’s website.
Trump Said to Weigh Political Risks of Firing CFPB’s Cordray
Since Donald Trump’s surprise election victory, he’s faced demands from Republican lawmakers to quickly oust the head of a controversial financial regulator. The president indicated this week that he’s proceeding cautiously.
Scam Alert: Beware unfamiliar callers with these area codes
Inc.com is reporting that the “one ring scam” that shows up periodically has resurfaced. Scammers are using auto-dialers to call cellphone numbers across the country.
Why Millennials Should Look for Blue Collar Jobs
On Friday, The Bureau of Labor revealed that the U.S. economy added 235,000 jobs in February. Despite the astounding job numbers, a study by the Job Application Center found that 69 percent of millennials are having a hard time finding jobs straight out of college.
Timothy Malcolm: Therea s plenty of options to watch TV without cable
Buzzr is the network that broadcasts reruns of old game shows. Early in the evening, when we’re hanging in the living room, if we even turn on the television, we’re likely watching Brett Somers give some sassy answer from the dais in “Match Game.” Part of this reason is I’m a game show fanatic, starting way back as a toddler, when I … (more)
11 Big Tax Mistakes to Avoid
Mistakes are part of life, but try not to make them part of your tax return. One misstep could hold up your tax return – maybe even your refund – for weeks or months, and you might even end up on the hook for interest and penalties.
California Says Autonomous Cars Don’t Need Human Drivers
California relaxed several rules on self-driving cars as the state tries to maintain its status as a leading test bed for the future of transportation. The state’s Department of Motor Vehicles released proposed regulations Friday for autonomous vehicles, dropping an earlier requirement that a human driver had to be present while testing on public roads.
U.S. Subprime Auto Losses Reach Highest Level Since Crisis
U.S. subprime auto lenders are losing money on car loans at the highest rate since the aftermath of the 2008 financial crisis as more borrowers fall behind on payments, according to S&P Global Ratings. Losses for the loans, annualized, were 9.1 percent in January from 8.5 percent in December and 7.9 percent in the first month of last year, S&P data released on Thursday show, based on car loans bundled into bonds.
Trump Is Said to Pick Scott Gottlieb as Food and Drug Chief
Scott Gottlieb, a former deputy commissioner of the U.S. Food and Drug Administration, is President Donald Trump’s choice to lead the agency, according to people familiar with the matter. Gottlieb, 44, served in several senior positions at the FDA during the George W. Bush administration.
Markets in ‘no doubt’ on US rate rise
Traders see it as almost “inevitable” the US Federal Reserve will raise its benchmark interest rate on Wednesday after strong jobs growth. Federal Reserve chair Janet Yellen said last week that the central bank could raise rates in March if employment and inflation figures met their expectations.
Verizon Exempts Fios Mobile App From Data Caps
The offer applies to Fios customers who also use Verizon for their mobile phone service, with one exception: those on the new unlimited plan. With the worry over possible net neutrality violations now in its rearview , Verizon is pumping the gas on unlimited video streaming.
Wall Street Nearly Unanimous on U.S. Rate Hike Next Week: Poll
Wall Street’s top banks were nearly unanimous on the view the Federal Reserve will increase interest rates at its policy meeting next week following a stronger-than-forecast February U.S. payrolls report, a Reuters poll showed on Friday. A drop in unemployment, more people seeking jobs and a rebound in wage growth were other upbeat aspects of the report which economists at these top banks reckoned give the Fed a green light to raise rates by a quarter point to 0.75-1.00 percent.
Wall St Ends Up; Jobs Data Points to Economic Strength
U.S. stocks rose on Friday after a solid jobs report pointed to strength in the domestic economy and supported expectations the Federal Reserve will raise interest rates next week. Indexes ended lower for the week, however, with the S&P 500 and Nasdaq breaking a six-week streak of gains.
U.S. Regulators Reject Bitcoin ETF, Digital Currency Plunges
The U.S. Securities and Exchange Commission on Friday denied a request to list what would have been the first U.S. exchange-traded fund built to track bitcoin, the digital currency. Investors Cameron and Tyler Winklevoss have been trying for more than three years to convince the SEC to let it bring the Bitcoin ETF to market.
U.S. Hopes to Launch NAFTA Talks in Just Over 90 Days: Ross
U.S. Commerce Secretary Wilbur Ross said on Friday that he hopes to launch formal talks to renegotiate the North American Free Trade Agreement with Canada and Mexico in a little over three months, setting in motion a campaign promise made by President Donald Trump. During his election campaign, Trump threatened to pull out of NAFTA, which he views as damaging to U.S. workers, unless it was renegotiated to his liking and reduced the U.S. trade deficit with Mexico.
AT&T Mum on 911 Service Outage
We just wanted to let you know that our site content is, of course, available to you absolutely free of charge. Our ads are the only way we have to be able to bring you the latest high-quality content, which is written by professional journalists, with the help of editors, graphic designers, and our site production and I.T. staff, as well as many other talented people who work around the clock for this site.
Achieving 3% Growth This Year? Trump Chief Economic Advisor: ‘Absolutely’
In an interview with the FOX Business Network’s Stuart Varney, Cohn discussed the outlook for the economy and Republican efforts to achieve tax reform and repeal and replace Obamacare. “We could absolutely get 3% growth in the third and fourth quarter of this year,” Cohn said, adding that his goal is to push growth even higher.
Wall St Trims Gains as Jobs Data Paves Fed Path to Hike Rates
U.S. stocks were off session highs on Friday after a solid jobs report virtually sealed the deal for the Federal Reserve to raise interest rates next week, and potentially set the course for an aggressive tightening path this year. Data showed 235,000 jobs were added in the public and private sectors in February, far exceeding economists’ average estimate of 190,000.
Volkswagen Pleads Guilty to Criminal Charges in Emissions-Cheating Scandal
Emblems of VW Golf VII car are pictured in a production line at the plant of German carmaker Volkswagen in Wolfsburg, February 25, 2013. REUTERS/Fabian Bimmer/File Photo (
Facebook Now Has 4 Snapchat Clones
Facebook has four extremely popular apps. Its flagship Facebook app is quickly closing in on 2 billion active users, Messenger and WhatsApp have over 1 billion each, and Instagram has managed to attract 600 million users.