Category Archives: Close to Home

Facebook nixes plan for new Inventory class ahead of court Struggle

Mark Zuckerberg said Friday that Facebook is withdrawing plans to make a new category of stock that would have allowed him keep tight reins on the social networking business even as he sold his stake to fund his philanthropy. read more

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With heavy debt loads, retailers risk following Toys “R” Us into bankruptcy

After Toys “R” Us Inc.’s fast descent into bankruptcy shocked debt traders, investors are choosing through an overleveraged business and asking which other retailers will struggle to exploit their debt. read more

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General Mills profit misses on weak yogurt, cereal sales

General Mills Inc reported a smaller-than-expected quarterly profit as yogurt and cereal sales declined in North America, sending the company’s shares down 9 per cent to their lowest levels in nearly two years. read more

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FedEx’s quarterly profit Drops on cyberattack, hurricane

Package delivery company FedEx Corp said on Tuesday that a June cyber assault on its own Dutch unit slashed $300-million from its quarterly profit, and the company reduced its full-year revenue prediction. read more

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Toys “R” Us to file for bankruptcy as soon as today, sources say

Toys “R” Us Inc., which has struggled to lift its fortunes since a buyout loaded the merchant with debt over a decade ago, is preparing a bankruptcy filing as soon as today, according to individuals knowledgeable about the circumstance. read more

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U.S. senator Warren introduces Equifax bill, launches probe into data breach

U.S. Senator Elizabeth Warren said on Friday she’s started an investigation to Equifax’s massive data breach and, along with 11 other Democratic senators, introduced a bill to give consumers the ability to freeze their credit at no cost. read more

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U.S. senator Warren introduces Equifax bill, launches probe into data breach

U.S. Senator Elizabeth Warren said on Friday she’s started an investigation to Equifax’s massive data breach and, along with 11 other Democratic senators, introduced a bill to give consumers the ability to freeze their credit at no cost. read more

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Google accused of discriminating against women in pay, promotions

Three female employees of Alphabet Inc’s Google filed a lawsuit on Thursday accusing the tech business of discriminating against women in pay and promotions.

The proposed class action lawsuit, filed in California state court in San Francisco, comes as Google faces an investigation by the U.S. Department of Labor into sex bias in pay practices. read more

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Jamie Dimon says That His eventual successor is an executive working at JPMorgan

Jamie Dimon, CEO of JPMorgan Chase amp Co, said on Tuesday that his eventual successor is an executive working in the bank.

Dimon, talking at the CNBC Institutional Investor Delivering Alpha Conference in New York, said “there are plenty of people” in the lender who board members understand could do his job today if needed. read more

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Hyundai, Kia to temporarily shut down U.S. plants Because of Irma

South Korea’s Hyundai Motor Co and sister car manufacturer Kia Motors Corp said on Monday they planned to temporarily shut down plants in the United States to prevent possible damage from Hurricane Irma. read more

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