Wednesday, 21 February 2018
Latest news
Home » Business


Yahoo to Re-Brand and Slash the Size of its Board

Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney, and Jeffrey Smith will continue to serve as directors of the company following the closing. With Verizon's acquisition of Yahoo moving closer to completion, it is revealed that the former Internet giant will be renamed to Altaba . Yahoo came under intense pressure when it reported two massive breaches in its extensive database a year ago. Read More »

Supermarkets Tesco (TSCO) and Morrisons (MRW) are leading the FTSE 100

The figures buoyed supermarket shares in the United Kingdom, with the "Big Four" advancing in early London trading: Tesco (TSCDY) gained 4% and Sainsbury's (JSAIY) was up 1.47% at 10:20 GMT. The UK's big supermarket groups are now locked in the midst of a price war to combat the advance of the German-owned discount chains, Aldi and Lidl . Read More »

Oil Prices Fall...Yet Again

West Texas Intermediate, the USA benchmark for the price of oil, in the February contract was up 0.25 percent to $52.09 per barrel. Oil past year capped its biggest annual gain since 2009 as the Organization of Petroleum Exporting Countries and 11 other nations agreed to curb output starting January 1 in an effort to trim a global inventory glut. Read More »

Facebook hopes to run ads in the middle of videos


That 20-second requirement would encourage publishers to create videos good enough to hold your attention for more than a brief moment. Facebook will begin showing ads in the middle of its videos, with publishers set to get a majority cut of the revenue. Read More »

BSP releases second list of 100 candidates for UP polls


The party has already shortlisted names of candidates for all the 403 seats, BSP supremo Mayawati had told a recent press conference. The party has declared nominees for 300 of the 403 assembly seats so far. "Muslims and upper castes were responsible for Mayawati's victory in 2007 and her subsequent defeat in the 2012 Uttar Pradesh election". The most prominent name in the third list is party's state unit chief Ram Achal Rajbhar, who will contest from Akbarpur seat in Ambedkarnagar district. Read More »

Is Snap Lying About Its Growth? An Ex-Employee Thinks So


He says he was sacked after three weeks on the job because he refused to disclose confidential information about Facebook, and because his new bosses "accurately perceived that Mr. Snap Inc, Snapchat's parent company, rejected the allegations. As a result, Pompliano is seeking a preliminary injunction order to not make any further misrepresentations as to his termination until a final award for declaratory or injunctive relief is made; all legal costs; and damages for Snapchat's "malice, ... Read More »

Oil hits 18 month highs on first trading day of 2017


Brent crude March 2017 futures were up nearly 2. 2 percent and stood at over $58 per barrel, while WTI February 2017 futures rose a similar amount to around $54.90 per barrel. Early surveys for OPEC production in December point to a drop in output (see here and here) - but this would appear to be led by falling Nigerian flows, as opposed to material losses elsewhere. Read More »

Macy's Closing Two Stores in Eastern Massachusetts


U.S. department store chain Macy's has said it expects to make 10,100 people redundant and save $550m (£447m) as a result of its cost-cutting programme. Also on Wednesday, Kohl's Corp. announced that its stores also had disappointing holiday sales figures. "We are closing locations that are unproductive or are no longer robust shopping destinations due to changes in the local retail shopping landscape, as well as monetizing locations with highly valued real estate", Lundgren said. Read More »

Cuomo announces new free college tuition initiative for middle-class households


Sen. The proposal, known as the Excelsior scholarship , would apply to anyone accepted to any of New York's two- or four-year city or state universities. By the final year, NY students would be eligible if their families earn $125,000 or less annually. SUNY undergraduate tuition now costs $6,470 for New York State residents, while community college tuition is $4,350. Read More »

Finland starts paying 2000 unemployed people a basic income


Finland, the most attractive country in the Europe has introduced a new scheme which is paying free money to unemployed in the country. Finland's experiment is scheduled to end in December 2018. Those chosen will receive 560 euros every month, with no reporting requirements on how they spend it. The Finnish government agency KELA is responsible for the social benefits of the country. Read More »

JonBenét Ramsey's brother sues CBS for $750m over TV series


The brother of JonBenet Ramsey has filed a lawsuit against CBS Corporation, claiming the the company slandered him by accusing him of killing his sister. A district attorney now on the unsolved murder case, however, has claimed it was premature to exonerate the Ramseys and ordered tests using new DNA testing technology. Read More »

Roof: No Witnesses, Evidence in My Defense


Roof , who killed nine members of Emanuel African Methodist Episcopal Church on June 17, 2015, in Charleston, South Carolina, had been accused of targeting the parishioners due to their race. In his hate-filled, racist journal read to the jury during his trial, Roof said his doesn't believe in psychology. He offered to enter a guilty plea in exchange for life in prison without the possibility of release, but the prosecution pushed for the death penalty. Read More »

Volkswagen agrees to another diesel vehicle emissions scandal buyback

The scandal has had a deep impact on Volkswagen's business and brand image, with the namesake passenger vehicle brand recording a 10.3% year-over-year decline through November in the USA, and 3.3% decline in North America, and continually low operating margins due to added costs of discounts and incentives to attract buyers. Read More »

US charges Platinum Partners founder, others with $1 billion fraud

Several employees of a troubled NY hedge fund, Platinum Partners , were arrested earlier on Monday on charges of participating in an approximately $1 billion fraud. In June, Murray Huberfeld , a former Platinum executive and the uncle of Levy, was arrested and pleaded not guilty to conspiracy and wire fraud. Lawyers for Landesman and Nordlicht could not immediately be reached. Read More »

NY, 19 other states file suit against generic drug makers

The news comes just one day after it was revealed that the U.S. Department of Justice has charged two former Heritage executives with conspiring to fix generic prices-"the first fruits of an ongoing and sweeping investigation into generic drug price-fixing by the Department", according to Ars Technica . Read More »

The Gambia President Jammeh must step aside

Mr. Jammeh, who has served as president of the Gambia since 1994, lost the December 1, 2016 presidential election to businessman Adama Barrow and conceded defeat the following day. " That legal process has nothing to do with the term of his mandate ". "It is a violation of the independent nature, guaranteed by the constitution, of the electoral commission, as some soldiers have taken away commission materials relating to the presidential election", the spokesman added. Read More »

NC postal worker 'saves Christmas' after mail truck catches fire


Most of the packages on the truck were Amazon deliveries and the company released a statement saying they will be donating to the Wake Forest Fire Department for their quick efforts. With Christmas less than two weeks away, it's time to get packages in the mail if you haven't already. Wake Forest fire fighters had the fire extinguished by 7:10 a.m., officials said. Read More »

Italy's largest bank to shed $18.8B in bad loans, cut jobs


The European Central Bank has already rejected a request from the Italian Treasury to extend a year-end deadline for recapitalizing Monte dei Paschi di Siena (MPS), the world's oldest and Italy's third-largest bank. "Vivendi intends to carry on its purchase of shares in Mediaset, depending on market conditions, to become, if possible, the second industrial shareholder in Mediaset, which to begin with could represent 10 to 20 percent of Mediaset's capital", Vivendi said in a statement. Read More »

Oil slips as OPEC, Russian output rises ahead of production cut

West Texas Intermediate crude slipped 0.4 per cent to US$51.56 (RM229) a barrel as of 10am in London, taking a breather after soaring more than 14 per cent following the OPEC-led deal to curb global production. Russian Federation says it will participate in a meeting of OPEC and non-OPEC members amid fluctuating oil prices over doubts about the outcome of a recent agreement to slash production. Read More »

Markets Right Now: Dow, S&P 500 surge to record high closes

The S&P 500 .SPX was up 2.13 points, or 0.1 percent, at 2,243.48, slightly below its high of 2,243.56. The Nasdaq composite recovered from an early loss to rise 62 points, or 1.2 percent, to 5,394, within 4 points of all-time high. The S&P 500 index also set an intraday record of 2,24.06, but was retreating, with 8 of the S&P 500's 11 sectors trading in negative territory. Dow futures gained 0.1 per cent while S&P futures also added 0.1 per cent. Read More »

Standing Rock Protest: Trump to review Dakota pipeline ruling


The Standing Rock Sioux says the project threatens cultural sites and drinking water on its nearby reservation. "This is nothing new from this Administration, since over the last four months the Administration has demonstrated by its action and inaction that it meant to delay a decision in this matter until President Obama is out of office", the companies said in a statement late Sunday. Read More »

Trump's Latest Tweet Threat: Taxes For Companies That Leave US

Trump turned the company into a political punch-bag during his campaign, claiming that he would stop the outsourcing and loss of jobs if he is elected president. Trump vowed on the campaign trail to help military veterans receive better health care through the agency and to keep the Carrier jobs from going to Mexico, part of his overarching promise to stop USA companies from moving operation from Midwest manufacturing states to countries with lower costs. Read More »

Ikea significantly expanding paid parental leave


Ikea said that, starting on January 1, 2017, employees who have been there for at least one year will get 6 weeks of leave at full pay, followed by another six weeks at half pay. "Co-workers who have been with IKEA for more than one year can take up to three months of paid leave to be with their family, receiving 100% of their base wage for the first six weeks of parental leave and 50% for an additional six weeks", said the company in a statement. Read More »

Bergdahl seeks pardon from Obama to avert desertion trial


The decision was controversial because it entailed releasing five Taliban prisoners being held at Guantanamo Bay. Bergdahl, who was captured during the Afghanistan War and held hostage by the Taliban for five years before Obama intervened, did not request the pardon through the normal military chain of command. Read More »

Anti-Trump forces launch attack on Electoral College


What's lost and what's gained as our populations shifts? VP-elect Pence got booed on Broadway last month, but there's a far more frustrating Hamilton story for Trump now. 68 . A separate petition , which has been signed by more than 4.6 million people, urged faithless electors to break ranks with Mr Trump and vote for Ms Clinton instead, hoping enough of them could overturn the result. Read More »

Why Fannie Mae And Freddie Mac's Common Shares Are Lottery Ticket Trades

He says they improperly handed billions in profits to the U.S. Treasury instead of giving the money to private investors; and is among those suing to get their billions back. Mnuchin isn't the first Republican to want to remove Fannie and Freddie from government control. Their current bailout agreements require that they send almost all of their profits to the Treasury, while winding down their capital to zero dollars by 2018. Read More »

US home prices surpass pre-recession peak amid healthy sales


In parallel, the gauge tracking prices in the country's ten largest metropolitan areas was ahead by 0.1% on the month and by 4.3% on the year, in comparison to a rise of 4.2% in the month before. said. But strong markets in some areas doesn't mean conditions in all areas are great, notes Zillow Chief Economist Svenja Gudell . Home values in the region recovered quickly after the housing crash but haven't approached their bubble-era highs. Read More »

What's Ahead for Home Depot Inc After Today's Bearish Options Activity?


Nevertheless, management has undertaken a strategic review of business operating model, growth prospects and cost structure to bring itself back on the growth trajectory and made a decision to sell its global operations. The difference between the expected and actual EPS was $0.02/share, which represents an Earnings surprise of 1.3%. When the current quarter ends, Wall Street expects Office Depot, have earnings per share of $0.11. Read More »

Petition calls for new UK 5-pound bank note to be 'fat


A petition to remove tallow from the five pound note has already started and gathered more than 3,000 signatures so far. People are outraged following the revelation that the new £5 notes contain animal fat . I would like to ask, how important is it to have that tallow, or if it can be taken out?The Bank of England should try to find a vegan alternative. The bank conducted a consultation on the switch to the notes in 2013, and there is even a website devoted to it: Read More »