Billionaire Carl Icahn reported a greater than 6 percent stake in Rubbermaid parent Newell Brands, calling them undervalued, according to a regulatory filing on Friday. The activist investor said in a filing with the Securities and Exchange Commission that he intends to talk with Newell management about ways to “enhance […]
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Kelly seeks to reassure White House staff, pledges ‘no immediate personnel changes’
White House chief of staff John Kelly met with administration staff on Friday morning to reassure them there would be “no immediate personnel changes” coming, press secretary Sarah Sanders told reporters at the daily press briefing. She said Kelly’s message was that, “People shouldn’t be concerned. We should do exactly […]
For first time ever, top GE execs earn no cash bonuses
The year 2017 was a tough one for General Electric Co., and its top executives’ bonuses reflected that — though there was still plenty of compensation doled out. The Boston-based company awarded only one of its senior executives a cash bonus in 2017, according to a proxy filing Monday. Neither […]
Bill to rewrite Dodd-Frank banking rules is ‘mostly’ reasonable: Barney Frank
Former congressman Barney Frank calls the Senate bill that reduces Dodd-Frank regulations on smaller banks “mostly” reasonable. “I like a lot of that bill,” he told CNBC on Friday. Frank, the former Democratic U.S. representative from Massachusetts who co-authored the Dodd-Frank banking reforms after the financial crisis a decade ago, […]
EA vows to never offer paid ‘loot boxes’ in its controversial ‘Star Wars Battlefront II’ game
The rebellion has won. Angry gamers are now victorious in the war against Electronic Arts’ aggressive money-making strategy in “Star Wars Battlefront II” as the publisher announces major pro-consumer changes to the game Friday. The uproar centered on the title’s in-game purchases system around loot boxes. It allowed players to […]
Hedge funder John Paulson, who made a fortune betting against subprime, is cutting staff: Report
John Paulson’s high-profile hedge fund laid off employees Thursday, including senior level traders, according to a report from the New York Post. The layoffs included partners Victor Flores and Allen Puwalski, as well as Keith Hannan, head of trading and Brad Rosenberg, head credit trader. The firm told the Post […]
FTC shuts down the ‘Bitcoin Funding Team’ for promoting deceptive money-making scheme
The Federal Trade Commission shut down multiple online “money-making schemes” involving cryptocurrency Friday. A federal court in Florida, at request of the FTC, halted activities and froze the assets of four men for allegedly promoting “deceptive” chain referral networks. Three of the defendants, Thomas Dluca, Louis Gatto and Eric Pinkston […]
Despite cryptocurrency mania, just 8 percent of Americans are invested in them
Cryptocurrencies are in the headlines every day and some say are powerful enough to take down the stock market as well as threaten the role of century old banks and governments. Turns out, demand for the digital coins is still pretty low though. Less than 8 percent of Americans own […]
Oil just spiked above $62 in sudden move
U.S. crude oil futures suddenly spiked more than 1 percent late Friday morning, erasing losses for the week. West Texas Intermediate (WTI) oil futures traded 1.5 percent higher above $62 a barrel as of 11:41 a.m., ET. The weekly Baker Hughes rig count is due at 1 p.m., ET. Traders […]
Bill Gates said he had to quit this common bad habit before he became successful
Bill Gates may have co-founded a multi-billion dollar tech company but even he had to overcome some bad habits on the road to success. In a 2005 Q&A session with billionaire investor Warren Buffett, Gates told students at the University of Nebraska-Lincoln’s College of Business Administration that he used to […]