Uber is dismantling a secret weapon it used against local regulators who have been trying to curtail or shut down its ride-hailing service in some cities around the world. The about-face announced Wednesday comes less than a week after a report published in The New York Times exposed the existence of a technology feature nicknamed “Greyball” that identified regulators posing as riders while trying to collect evidence that Uber’s service was breaking local laws governing taxis.
Category: Business News
How Trump has given new optimism to the U.S. economy
Mar. 08, 2017 – 4:22 – M. Luis Construction CEO Natalia Luis weighs in on how President Trump has impacted job growth and the U.S. economy.
Fmr. CBO director: Fantastic accomplishment if tax reform done this year
Mar. 08, 2017 – 4:13 – Former Congressional Budget Office Director Doug Holtz-Eakin on the agency’s healthcare scoring and the timeframe for tax reform.
The fallout from the latest WikiLeaks release
Mar. 08, 2017 – 3:49 – Royal Australian Navy Info Ops Commander Greg Keeley (Ret.) and cybersecurity expert Leeza Garber weigh in on the implications of the latest WikiLeaks release.
US Marines just deployed on the ground inside Syria
A Marine detachment from an amphibious task force has left its ships to deploy to Syria near Raqqa, defense officials told The Washington Post. While special-operations advisers have been on the ground in the country for some time, the move shifts more conventional personnel into the country and represents a new escalation of the US’s involvement there.
Republicans will regret ignoring the Congressional Budget Office
Rather unusually, Republicans in the House of Representatives are intent on moving their plan to repeal and replace Obamacare through committees before they even have estimates of how much the plan will cost, how many people it will cover, or what it will do to insurance premiums. The Congressional Budget Office will likely come out with those estimates next week .
Jessica Alba and Will.i.am Reveal How They Joined Forces for The Honest Co.’s ‘Moments’ Campaign
The duo discusses their collaboration, the inspiration behind their campaign and how the billion-dollar company is redefining the family brand. Combine the entrepreneurial forces of an actress/business mogul with a hit musician/producer, and you get a marketing campaign poised to leave its mark on consumers.
Therea s no one running this 40-person companya and ita s likely to stay that way
Ask to meet the chief executive of the Swedish software consultancy firm Crisp and you’ll be waiting for a while. Crisp has no CEO.
Senate Dems grill FCC chairman
Democrats grilled the new Republican chairman of the Federal Communications Commission on Wednesday, at his first hearing before Congress since taking over the agency. In his first month on the job, Chairman Ajit Pai has quickly begun rolling back a number of Obama-era initiatives and regulations, and faced tough questions from Dems at the Senate Commerce Committee hearing.
Tactical Income ETF Strategies for the Modern Advisor
Despite concerns over Federal Reserve interest rate hikes, fixed-income exchange traded funds remain a go-to asset for protecting principal in a potentially volatile year and generating yields along the way.
Fidelity Sees Huge Growth Potential in ETFs
Fidelity sees opportunity in exchange traded fund space as a means to bring actively managed styles from decades of experience out of their active management team into a cheap and efficient investment wrapper.
FBI to investigate WikiLeaks’ publication of CIA documents
Mar. 08, 2017 – 4:13 – Former FBI Counter-Terrorism Operative Eric O’Neill and Jamil Jaffer, former counsel to the assistant attorney general for national security, on WikiLeaks’ publication of CIA documents and how people can protect themselves from cyberattacks.
New FCC Chairman Defends Changes to Internet Privacy Rules
Federal Communications Commission Chairman Ajit Pai defended his promised rollbacks of Obama-era privacy and net-neutrality rules at a hearing Wednesday, saying they are necessary to maintain broadband investment.
New FCC Chairman Defends Changes to Internet Privacy Rules
Federal Communications Commission Chairman Ajit Pai defended his promised rollbacks of Obama-era privacy and net-neutrality rules at a hearing Wednesday, saying they are necessary to maintain broadband investment.
Needs vs. Wants: How to Distinguish and Budget for Both
Do you need that new jacket, or do you just want it really badly? Sure, you could say outerwear is essential for keeping warm in cold climates, but it’s much harder to argue that it needs to be a luxurious leather coat. Some things you need, and some you just want.
Express, Bojangles sink; H&R Block, Children’s Place soar
The tax preparer jumped after releasing solid results and saying it’s seeing encouraging trends early in the tax filing season. The seller of children’s clothes and accessories soared after reporting strong results and issuing a forecast that was much stronger than analysts expected.
What To Expect When J.Jill Goes Public Tomorrow
The specialty women’s clothing retailer’s IPO – which isn’t its first – of 11.67 million shares is expected to be priced between $14 and $16 and could generate about $150 million, valuing the company from $750 million to $800 million. The Quincy, Mass.-based retailer, which caters to the college-educated woman from 40 to 65, touts itself on having a “passionately devoted customer base,” as 70% of its 2015 gross sales came from people who had shopped at J.Jill for at least five years.
What To Expect When J.Jill Goes Public Tomorrow
The specialty women’s clothing retailer’s IPO – which isn’t its first – of 11.67 million shares is expected to be priced between $14 and $16 and could generate about $150 million, valuing the company from $750 million to $800 million. The Quincy, Mass.-based retailer, which caters to the college-educated woman from 40 to 65, touts itself on having a “passionately devoted customer base,” as 70% of its 2015 gross sales came from people who had shopped at J.Jill for at least five years.
Advertisers Gravitating to Facebook, Away From Twitter
William Blair reiterated its buy rating on Facebook Wednesday after months of checks showed that digital advertisers were increasingly using Facebook as their platform of choice while moving away from Twitter .
Intel Should Remain Dominant in Server CPUs, but AMD and Qualcomm Just Made Things More Interesting
While Intel is about to see tougher server processor competition, no rival can match the breadth of its offerings, or its industry support. Just as the PC CPU market has been overdue for some real competition to challenge Intel’s hegemony, the same could arguably be said for server CPUs.
Gold Has Room to Run Says Economist
The current environment may prove to be an ideal backdrop for higher gold prices, at least that’s what a renowned economist and three-time New York Times bestselling author suggests. A keynote speaker at the PDAC convention in Toronto, Dr. Dambisa Moyo told Kitco News there are many reasons to be bearish on the economic outlook, particularly in the United States.
Battered Biotech Teva Is a Smart Contrarian Buy Now
As politicians race to replace Obamacare, researchers are racing to replace drugs that are on the verge of patent expiration. One opportunity points the way: biologics.
How Donald Trump Could Boost the Price of Gold — Or Crush It Just the Same
Global economic uncertainty, the potential for rising deficits and increased demand are all leading investors to rethink gold and silver as part of their portfolios. Though there’s been little focus on it lately, President Trump has vowed to increase spending on U.S. infrastructure, rebuilding bridges, strengthening the energy grid against cyber attacks and more, in an effort to spur economic growth.
Sarah Benali
Sarah Benali is the Senior Producer in Digital Media for Kitco News. She earned a Bachelor of Commerce, majoring in Finance in Montreal, Canada.
Warning Signs Are Building in the Market
I’ve mentioned several times recently that the most important thing to watch for in the market is a shift from afternoon strength to weak closes. Since the all-time highs last Wednesday, we have had three weak finishes.
U.K.’s Osborne to Reap $790,000 From 48 Days’ Work for BlackRock
Former U.K. Chancellor of the Exchequer George Osborne expects to earn 650,000 pounds from 48 days of work for BlackRock Inc., according to parliamentary filings. The Conservative politician, still a backbench lawmaker, expects to earn 162,500 pounds each quarter for 12 days’ work as an economic adviser at the BlackRock Investment Institute in London, according to the Register of Members’ Financial Interests, which details the outside earnings of U.K. legislators.
Trump SEC Pick Made Millions Representing Banks and Hedge Funds
President Donald Trump’s pick to lead the Securities and Exchange Commission has earned $7.62 million since 2015 representing some of Wall Street’s biggest firms, including Goldman Sachs Group Inc. and Bill Ackman’s Pershing Square Capital Management, according to a federal disclosure form. Jay Clayton, the Sullivan & Cromwell partner tapped by Trump, outlined his clients — and his potential conflicts — in a filing to the U.S. Office of Government Ethics that he signed in January.
The Government’s Attempts To Regulate The Internet Hit A Huge Five-Year Roadblock
President Donald Trump renominated Republican Federal Communications Commission chairman Ajit Pai to serve another five-year term, which appears to signal the administration’s intent on rolling back regulations. “I am deeply honored to have been nominated by President Trump to serve a second term on the Federal Communications Commission,” Pai said in an official statement.
Ron Perelman’s Scientific Games Inks James Bond Licensing Deal
Terms of the multiyear agreement were not disclosed. The agreement with EON Productions; Danjaq; and MGM Interactive, a subsidiary of Metro-Goldwyn-Mayer, gives Scientific Games the rights to tap past and future James Bond films, as well as the film’s talent portraying James Bond, according to this morning’s announcement.
Senators push FCC to keep its net neutrality rules
The U.S. Federal Communications Commission should reverse course and keep the net neutrality rules it passed just two years ago, several Democratic senators said Wednesday. The FCC has not yet moved to repeal the regulations prohibiting broadband providers from selectively blocking or slowing web traffic, but the agency’s new chairman, Republican Ajit Pai, has called the rules a “mistake.”
Looking to ETFs to Buy the Energy Sector Dip
After racing higher last year, the Energy Select Sector SPDR , the largest equity-based energy exchange traded fund, is off just over 4% this year while the S&P 500 is higher by more than 6%.
Europe ETFs: Opportunity Awaits Thanks to Eurozone Economies
With major national elections scheduled this year for a slew of major Eurozone economies, including Germany and France, the region’s two largest economies, some investors are understandably pensive about embracing European stocks and the related exchange traded funds.
Brazil Currency ETF Could See More Gains
The WisdomTree Brazilian Real Strategy ETF is one of this year’s best-performing currency exchange traded funds. BZF is higher by 7.3% year-to-date, a pleasant surprise when considering the Brazilian central bank’s new found penchant for lowering interest rates.
Modell’s Takes a Swing at Amazon With Online Presence
Modell's CEO Mitch Modell on the state of brick and mortar, the GOP's Obamacare replacement and the impact of a higher minimum wage. Are online retailers such as Amazon permanently changing the landscape of retail in America? Modell’s CEO Mitch Modell says for some consumers, the brick-and-mortar experience remains valuable.”
Bolton: U.S. Military Should Use WikiLeaks for Cyber Warfare Target Practice
Mar. 08, 2017 – 3:48 – John Bolton, former U.S. Ambassador to the UN, says WikiLeaks’ release of CIA secrets is another reason for U.S. cyber warfare to take down their capabilities.
Mortgage Rates Wednesday, March 8: 14-Week High;…
Thirty-year and 15-year fixed rates, as well as 5/1 ARM rates, all moved higher today, according to a NerdWallet survey of current mortgage rates published by national lenders Wednesday morning. The Federal Reserve will announce its decision on raising short-term interest rates in one week.
Why Isn’t Uber Talking About The Women’s Strike?
To mark International Women’s Day, a number of women are striking today with the blessing of their employers-or at least with their tacit agreement. Those who can’t participate by taking the day off are instead showing their solidarity by donning the color red, attending rallies, or boycotting businesses that aren’t led by women.
Daily Dividend Report: PBA, PLCE, AMGN, SPLS, VGR
Pembina Pipeline announced today that its Board of Directors declared a common share cash dividend for March 2017 of $0.16 per share to be paid, subject to applicable law, on April 15, 2017 to shareholders of record on March 25, 2017. The Children’s Place, the largest pure-play children’s specialty apparel retailer in North America, today announced that its Board of Directors has approved a new $250 million share repurchase program and has increased the Company’s quarterly dividend to $0.40 per share from $0.20 per share.
Wednesday’s ETF with Unusual Volume: XT
The iShares Exponential Technologies ETF is seeing unusually high volume in afternoon trading Wednesday, with over 637,000 shares traded versus three month average volume of about 73,000. Shares of XT were trading flat on the day.
Wednesday’s ETF Movers: XBI, XOP
In trading on Wednesday, the SPDR S&P Biotech ETF is outperforming other ETFs, up about 2.3% on the day. Components of that ETF showing particular strength include shares of Puma Biotechnology, up about 10.4% and shares of Cytokinetics, up about 8.5% on the day.