Industry News

03/09/2018 - London Markets: FTSE 100 struggles after Trump signs tariff order
Blue-chip stocks in the U.K. slipped Friday, with mining shares mixed as U.S. tariffs on steel imports were set to go into effect, but the London benchmark is still on track to rise for the week.
03/09/2018 - Obamas reportedly in talks with Netflix about developing a series
Former President Barack Obama and his wife, Michelle, want to tell “inspirational” stories and may be ready to do a deal with Netflix to reach that goal, says a report in the New York Times.
03/09/2018 - Key Words: ‘It could be a deep correction’ — J.P. Morgan co-president warns of 40% stock pullback
The stock market is set for as much as a 40% plunge in the next two to three years, essentially wiping out the last two year’s market rally in the U.S., warns J.P. Morgan Co-President Daniel Pinto in a Bloomberg interview.
03/09/2018 - Key Words: ECB’s Mario Draghi: ‘If you put tariffs against your allies, one wonders who the enemies are’
European Central Bank President Mario Draghi on Thursday lashed out at U.S. President Donald Trump’s trade tariffs, warning that protectionist measures pose a risk to the global economy and international relations.
03/09/2018 - The Wall Street Journal: Toys ‘R’ Us said to be preparing to liquidate all U.S. stores
Troubled toy chain Toys “R” Us Inc. is preparing to liquidate all of its U.S. stores and abandon efforts to restructure through the bankruptcy process, people familiar with the matter said, after a weak holiday season torpedoed plans to reorganize.
03/09/2018 - Interior Dept. spending nearly $139,000 on doors for Ryan Zinke’s office
The U.S. Interior Department spent almost $139,000 on new office doors for Secretary Ryan Zinke, according to public records.
03/09/2018 - The Wall Street Journal: Uber agrees to sell most of its Southeast Asia business to rival Grab
Uber Technologies Inc. has reached an agreement in principle to sell most of its Southeast Asia operations to local rival Grab Inc., ending a costly fight for market share in the fast-growing region, according to people familiar with the matter.
03/09/2018 - The Wall Street Journal: Trump accepts invitation to meet North Korean leader Kim Jong Un
President Donald Trump has accepted an invitation to meet North Korean leader Kim Jong Un, the White House said Thursday.
03/09/2018 - The Wall Street Journal: Bank of Japan keeps rates unchanged, gives no hint of future plans
The Bank of Japan left its aggressive easing policy unchanged Friday and offered no new clues on when and how it might join other major central banks in winding down its measures as Haruhiko Kuroda heads toward a second five-year term as governor.
03/09/2018 - Sen. Jeff Flake threatens bill to block Trump’s tariffs
Sen. Jeff Flake said Thursday he would introduce a bill to block tariffs on imported steel and aluminum that President Donald Trump unveiled Thursday.
03/09/2018 - The Wall Street Journal: $2.6 billion settlement by Wynn Resorts may free up founder to exit stake
Steve Wynn resigned last month as the chairman and chief executive of the casino company that bears his name. On Thursday, Wynn Resorts Ltd. took a step that could eventually allow him to end his status as the company’s largest shareholder, too.
03/08/2018 - The Wall Street Journal: China says it’s ‘strongly opposed’ to Trump’s tariffs
China lashed out against the U.S. on Friday after the Trump administration launched global tariffs on steel and aluminum and signaled it would step up pressure on Chinese trade practices.
03/08/2018 - The Wall Street Journal: 2017 meeting in Seychelles draws scrutiny from Mueller probe
A meeting in the Seychelles weeks before Donald Trump’s inauguration between a Russian executive and a top Republican donor close to the Trump transition team has drawn the scrutiny of special counsel Robert Mueller, who has heard testimony that appears to conflict with an account of the same meeting given earlier to House investigators, according to people familiar with the matter.
03/08/2018 - The New York Post: ‘Sopranos’ prequel movie reportedly in the works
A prequel to “The Sopranos” is set to hit the silver screen with a look at the infamous Newark riots, according to a report Thursday.
03/08/2018 - The Wall Street Journal: SEC says Voya Financial agrees to $3.6 million settlement
The Securities and Exchange Commission said Thursday that two subsidiaries of Voya Financial Inc. agreed to pay $3.6 million to settle charges that they failed to disclose conflicts of interest and misled mutual-fund investors.
03/08/2018 - The Wall Street Journal: Manafort pleads not guilty to latest charges in Mueller investigation
Paul Manafort, President Donald Trump’s former campaign chairman, pleaded not guilty to tax and bank fraud charges in federal court in Virginia on Thursday, setting up the prospect of back-to-back trials stretching through the summer into Manafort’s business dealings.
03/08/2018 - The Uberization of the economy is winning because of cucumber farmers
Cucumbers and a ride home from the bar may not appear to have much in common, but a judicial test involving cucumber farmers is a key reason that startups like Uber Technologies Inc. have been able to classify workers as independent contractors.
03/08/2018 - The Wall Street Journal: GM again faces potential $1 billion payout over defective ignition switches
General Motors Co. again faces the prospect of a potential $1 billion stock payout to address claims stemming from the auto giant’s ignition switch crisis after a trust for the company’s bankruptcy estate renewed discussions with plaintiffs about a settlement.
03/08/2018 - CryptoWatch: Bitcoin falls again, now down 20% on the week
Digital currencies take another step lower.
03/08/2018 - Tesla’s $2.6 billion payday for Elon Musk gets another ‘no’
A second proxy advisory firm comes out against Tesla’s long-term compensation package for CEO Elon Musk.