Shares of Facebook fell as much as 5 percent Monday after the FTC confirmed it’s investigating the company’s data practices in the wake of the Cambridge Analytica breach. “The FTC takes very seriously recent press reports raising substantial concerns about the privacy practices of Facebook. Today, the FTC is confirming […]
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4 secrets to raising wealthy kids, according to the billionaire Rockefeller family
In many cultures, there is an age-old saying that wealth is made and lost in three generations. In the U.S. we say, “shirtsleeves to shirtsleeves in three generations,” and in Japan it’s “rice paddies to rice paddies in three generations.” Wealth, in other words, rarely lasts much beyond the grandkids. […]
General Electric shares drop to lowest level since July 2009
Shares of General Electric dropped below $13 in Monday trading. The company’s stock fell as far as $12.86, the lowest level since July 2009. Pressure on GE has not let up this year, with the stock sliding more than 25 percent. A dismal 2017 saw company shares slide 42 percent. […]
Trump lawyer tells porn star to ‘cease and desist’ after ’60 Minutes’ interview
President Donald Trump‘s personal lawyer Michael Cohen demanded that adult-film star Stormy Daniels “cease and desist,” Fox News reported on Monday, after she spoke in a “60 Minutes” television interview about her alleged affair with Trump and the threat she said she received to stay silent. Fox reported that Cohen’s […]
Walmart unit Jet.com taps Tesco veteran Simon Belsham as president
Walmart‘s Jet.com has named Tesco veteran Simon Belsham as president of the e-commerce company, effective immediately, the company said Monday. Belsham will be responsible for expanding the company’s online grocery business, Walmart e-commerce CEO Marc Lore said in a memo to employees. Belsham spent seven years at Tesco, one of […]
In bitcoin work world, job benefits like pay and retirement get a rethink
Jeremie Beaudry doesn’t code or hang out on Reddit. He wasn’t raised post-financial crash with a healthy suspicion of traditional banking institutions or fiat currency. In fact, Beaudry spent most of his career working for a big U.S. bank, but now the financial services legal counsel is taking a small […]
Bank stocks are breaking down even as rates are rising. Here’s why
What’s up with the banks? Even as interest rates are expected to rise this year and Treasury yields are rallying, bank stocks are taking a hit. Financials are among S&P 500 sectors in corrections, and bank ETFs are getting pummeled. The KRE, which tracks regional banks, along with the KBE, […]
Ireland’s Smurfit Kappa rejects improved bid from rival paper packaging producer International Paper
Ireland’s Smurfit Kappa on Monday said it had rejected an increased takeover offer from U.S. rival International Paper, saying the offer undervalued Europe’s largest paper packaging producer and made no strategic sense. Under International Paper’s revised proposal, made on March 22, Smurfit’s shareholders were offered 25.25 euros in cash, up […]
Boeing completes its Dreamliner family with the first 787-10 delivery
Boeing delivered its first 787-10 Dreamliner to Singapore Airlines on Sunday, rounding out a family of lightweight jets on which the U.S. planemaker is betting its future. The ceremonial key to the plane was handed to Singapore Airlines Chief Executive Goh Choon Phong on the tarmac at Boeing’s South Carolina […]
California measure could spur more seniors to sell homes, easing the state’s housing crunch
A proposed ballot initiative in California could encourage older homeowners with larger homes to downsize and move to other counties in the state, freeing homes for younger families and potentially easing the state’s chronic housing shortage. The real estate industry is leading the charge to qualify the measure for the […]