Patrick and John Collison have come a long way from the quiet village outside of Limerick, Ireland where they grew up. With little around except “mooing cows,” the brothers turned to coding to occupy themselves. To access the internet, their parents had to buy a special satellite. In 2011 the Collisons founded Stripe, an online Read More…
NEW YORK (FOX 5 NY) – I spend a lot of time at Fox 5 covering startups. One of the biggest compliments you can pay a startup is to call it a disrupter, changing not just local business, but entire industries across the country and even around the world. Former TLC Commissioner Matthew Daus says we haven’t had such Read More…
Wikileaks today published a trove of documents, allegedly taken from the CIA, that detail the government’s efforts to hack popular devices like iPhones, Android phones, and Samsung smart TVs. But Apple is pushing back against claims that the CIA’s hoarded vulnerabilities for its devices were effective. The documents, if they are indeed legitimate, include charts that Read More…
Norwegian startup Gobi raised $500,000 at a $15 million valuation to take on Snapchat with its “Stories” communication tool. The platform enables users to create public and private groups where users can share photos and videos that stay around for three days before vanishing into digital pixel-dust. “We originally created a Snapchat group for our college,” says Kristoffer Lande, Read More…
The debate intensified over whether the growing number of tech companies that blocked white supremacists and a neo-Nazi website on the internet have gone too far, as a prominent privacy group questioned the power a few corporations have to censor. The Chief Executive of Cloudflare Inc., one of several internet companies this week to cut Read More…
SEOUL—For Samsung Electronics Co., the launch this week of a new smartphone and a court ruling for its detained de facto leader may offer closure and clarity for a company rocked by two scandals over the past year. Samsung will unveil the Galaxy Note 8 on Wednesday in New York, releasing what it hopes will Read More…
A pitched battle between China’s technology titans for control of the world’s largest mobile-payments market is starting to ripple overseas. The biggest combatant is Ant Financial Services Group, an affiliate of e-commerce giant Alibaba Group Holding Ltd. and the owner of China’s dominant Alipay service. Alipay lets users pay for everything from haircuts to houses Read More…
Google is working on new tools to help news organizations sell subscriptions, a move that could help ease its strained relationship with publishers. The tech giant said it is testing changes to its “first-click-free” policy that allows access via Google search results to articles that require a subscription. Google might reduce the number of free Read More…
MUMBAI (Reuters) – India’s second-biggest IT firm Infosys (INFY.NS) said on Saturday it will buy back shares worth up to 130 billion rupees ($2 billion), a day after Vishal Sikka resigned as chief executive after a long-running feud with the company’s founders. The board of Bengaluru-headquartered Infosys approved the repurchase of 113 million shares at Read More…
A lawsuit claims that Poland Spring Water is deceiving consumers with evergreen labels that say their bottle contains “100 percent natural spring water” that hails from Maine. The class-action lawsuit filed Tuesday in federal court in Connecticut claims that parent company Nestle Waters North America is bottling common groundwater that doesn’t meet the federal definition Read More…
The sporting goods industry got kicked around on Friday — thanks to a disastrous second-quarter performance by Foot Locker. The sneaker and apparel chain missed estimates on profits, revenue and margins — and investors, scared that the long-running athletic footwear bull market was weakening, ran away from rival Finish Line and Genesco, and from Nike Read More…
Justice may be slow, but this is ridiculous. The Manhattan federal judge who is overseeing a class-action lawsuit against 26 financial firms for allegedly rigging US Treasury auctions last held a hearing for the case on Aug. 22, 2016, court records show. At that time, Judge Paul Gardephe questioned whether the plaintiffs, a group of Read More…
As millions of people move into position for Monday’s solar eclipse, some airlines are encouraging travelers to get a little closer to the action. Southwest Airlines Co. has touted five of its flights that offer “the greatest likelihood” of catching “the best views” of the moon’s 93-minute journey past the sun on Monday, as seen Read More…
Goldman Sachs is growing bearish on the Trump administration. The chances are dimming for comprehensive corporate tax reform, a campaign promise that has kept the stock market higher since November, the Wall Street Goliath said in a Friday note. “We continue to believe a tax cut is slightly more likely than not, but our conviction Read More…
Foot Locker says it is having trouble drawing crowds — but you wouldn’t know it walking by the chain’s Times Square location Friday morning. A line winding around the Broadway and 41st Street corner pulsed with excitement. A new Air Jordan from Nike, perhaps? Nope. The lineup denizens, dozens deep, were there to catch a Read More…
SAN FRANCISCO (Reuters) – Investors worried about lofty stock-market valuations may take comfort in signs that companies in the benchmark S&P 500 index are padding their bottomlines less than they have in previous years. Recent changes to accounting standards and a crackdown last year by the Securities Exchange Commission are encouraging many companies to be Read More…
(Reuters) – A former senior official at the United Auto Workers trade union was charged on Friday with conspiring with other union officials to accept improper payments from Fiat Chrysler Automobiles NV (FCHA.MI) officials over a four-year period. Virdell King, 65, of Detroit, who a union official until February 2016, was charged with conspiracy to Read More…
DALLAS, August 18, 2017 /PRNewswire/ — XBT Holding SA., ein weltweit vertretener Provider für Hosting und Netzwerklösungen, veröffentlichte seine Jahresabschlussergebnisse für 2016: eine Umsatzsteigerung um 28 Prozent dank neuer Kunden und geografischer Expansion. (Logo: http://mma.prnewswire.com/media/545801/XBT_Holding_Logo.jpg ) Die EBITDA-Marge stieg um 3 Prozent im Vergleich zum Vorjahr, auf 41 Prozent. Dieser Anstieg wurde durch einen Read More…
A new bidder has emerged with a $9.3 billion offer for power-transmission company Oncor that could wrest it from a deal in place with Warren Buffett’s Berkshire Hathaway Inc., according to people familiar with the matter. The bidder’s existence materialized in a late-scheduled court hearing on Friday, but the identity wasn’t revealed, the people said. Read More…
Billionaire corporate titan Carl Icahn announced Friday that he is resigning from his role as President Trump’s “special adviser” for regulatory affairs. Icahn, 81, a fellow native of Queens, was one of the first prominent business leaders to endorse Trump’s White House bid . Icahn announced he was stepping down from the unpaid, advisory position Read More…
DETROIT (Reuters) – Federal prosecutors on Friday recommended a three-year prison sentence for Volkswagen AG (VOWG_p.DE) engineer James Liang for his role in a diesel emissions scandal that has cost the German automaker as much as $25 billion. Liang, who pleaded guilty to misleading regulators, is cooperating with prosecutors and will be sentenced on Aug. Read More…
Uber Technologies Inc.’s former chief executive fired back against a lawsuit from one of the ride-hailing firm’s biggest investors, saying Benchmark Capital is engaged in a personal attack that threatens to further damage the company. In a filing to the Delaware Chancery Court late Thursday, Travis Kalanick reiterated his call for the Benchmark legal dispute Read More…
NEW DELHI—Vishal Sikka resigned Friday as chief executive of Infosys Ltd., citing a resistance to change at the company that deteriorated into ugly accusations of mismanagement at India’s second-largest software and outsourcing company. The Bangalore-based company said Mr. Sikka had the support of the board but had been harassed into leaving…
NEW YORK (Reuters) – A U.S. judge on Friday ordered lawyers defending Platinum Partners founder Mark Nordlicht in a $1 billion fraud case not to communicate with U.S. government witnesses or their lawyers, after prosecutors claimed Nordlicht’s lawyers tried to intimidate a key witness. U.S. District Judge Dora Irizarry in Brooklyn said at a court Read More…
DALLAS, August 18, 2017 /PRNewswire/ — XBT Holding SA., un prestataire mondial de solutions d’hébergement et de réseau, a annoncé ses résultats de fin d’exercice 2016, qui montrent une augmentation de 28 pour cent de son chiffre d’affaires en raison de l’acquisition de nouveaux clients et d’une empreinte géographique plus étendue. (Logo: http://mma.prnewswire.com/media/545801/XBT_Holding_Logo.jpg ) Read More…
Walt Disney Co.’s decision this month to stream its own movies and shows marks Hollywood’s latest—and biggest—attempt to wean itself from Netflix Inc. In the shadow of Netflix’s boom, smaller services have been finding niche audiences who appreciate such genres as horror and anime—or themes such as British shows or automobiles—but are unsatisfied by mainstream Read More…
PRINCETON, N.J., Aug. 18, 2017 /PRNewswire/ — AMERI Holdings, Inc. (“Ameri100” or the “Company”) (OTCQB: AMRH), a leading integrated SAP solutions provider, reported financial results for the second quarter ended June 30, 2017. Ameri100’s Financial Results – Second Quarter 2017 vs. Second Quarter 2016: Total revenue was $12.3 million in the second quarter of 2017 Read More…
Foot Locker Inc. followed other sportswear retailers in reporting weaker-than-expected sales for its latest quarter, a sign that the athleisure market may be running out of steam. Its sales at stores open at least a year slid 6%, compared with a 1.7% growth forecast by Consensus Metrix. The decline was Foot Locker’s first for the Read More…
(Reuters) – A lawyer for Elliott Management told a U.S. bankruptcy judge on Friday that an unidentified utility could pay $9.3 billion to buy Texas power transmission company Oncor, topping a $9 billion bid by Warren Buffett’s Berkshire Hathaway Inc. Elliott, a hedge fund and largest creditor of Oncor’s bankrupt parent Energy Future Holdings Corp, Read More…
SAO PAULO (Reuters) – Citigroup Inc (C.N) and seven other banks will underwrite the initial public offering of Petróleo Brasileiro SA’s fuel distribution unit, which will likely occur in November, a person with direct knowledge of the plan said on Thursday. Petrobras (PETR4.SA) (PBR.N), as Brazil’s state-controlled oil company is known, is considering whether to Read More…
NEW YORK (Reuters) – The Trump-fed rally in stocks, lately showing signs of faltering as the long Wall Street summer nears its end, faces a key test in the weeks ahead with the approach of a historically unkind season for equities and a clutch of issues – such as raising the debt ceiling – awaiting Read More…
NEW YORK (Reuters) – The New York Federal Reserve on Friday raised its estimate of U.S. gross domestic product growth for the third quarter above 2 percent based on this week’s data on retail sales, industrial output and regional manufacturing. The regional central bank’s “Nowcast” model calculated the economy was expanding at an annualized pace Read More…
Traders at the New York Stock Exchange loudly cheered Friday as news broke of White House chief strategist Steve Bannon’s departure – a move that sent sinking stocks bouncing back. see also Steve Bannon is out at White House Top presidential adviser and nationalist bomb-thrower Steve Bannon is out… After struggling all day, the S&P Read More…
(Reuters) – After paying customers millions of dollars for opening phony accounts they did not want, Wells Fargo & Co (WFC.N) has said it is now grappling with the possibility it harmed customers by closing real accounts they needed, leaving them without access to funds. Wells, the third-largest U.S. bank, disclosed in a regulatory filing Read More…
Wall Street’s top regulator on Friday dropped its civil case against two JPMorgan Chase traders who attempted to hide the infamous $6.2 billion “London Whale” trading loss. The Securities and Exchange Commission decided to stop pursuing charges against Javier Martin-Artajo and Julien Grout after a third trader, a witness in the case, recently changed his Read More…
President Trump’s tweetstorms may keep his beleaguered staff up at night, but they help the people who make a buck from the president’s favorite social media sleep like babies. Without Trump, Twitter Inc. could lose almost a fifth of its value, Bloomberg reported on Friday. That’s the conclusion of Monness Crespi Hardt & Co. analyst Read More…
WASHINGTON (Reuters) – The stock market’s steady rise, still low long-term bond yields and a sagging dollar are girding the Fed’s intent to raise interest rates again this year despite concerns about weak inflation, according to comments this week from Fed officials and analysts anticipating remarks next week by Chair Janet Yellen. Minutes of the Read More…
(Reuters) – Facebook Inc (FB.O) founder Mark Zuckerberg said on Friday he would be taking two months of paternity leave after the birth of his second daughter. Zuckerberg said he would be taking advantage of Facebook’s option to take leaves in parts. bit.ly/2woneIb “I’ll take a month off to be with Priscilla (Chan) and the Read More…
U.S. dollar stores have not become collateral damage, as feared, in a price war among big retailers including Wal-Mart Stores Inc (WMT.N) and Kroger Co (KR.N), which has pushed down prices of key items such as eggs and laundry detergent. Dollar Tree Inc (DLTR.O) and Dollar General Corp (DG.N), which together operate more than 28,000 Read More…
Vishal Sikka, the chief executive brought in to turn around India’s Infosys three years ago, resigned suddenly on Friday, blaming a “continuous drumbeat of distractions” and a long-running row with founders over the tech firm’s strategy. The departure of Sikka, who was the first chief technology officer (CTO) at German software firm SAP, spooked Infosys’ Read More…
WASHINGTON (Reuters) – U.S., Canadian and Mexican negotiators on Friday began digging into some of the thorniest issues in modernizing the North American Free Trade Agreement, including rules of origin for goods produced in the region, services trade and a controversial dispute settlement system. A copy of the NAFTA negotiating agenda obtained by Reuters reveals Read More…
(Reuters) – Shares of sporting goods retailers were pummeled in early trading on Friday as dismal quarterly results from Hibbett and Foot Locker heightened investor concerns about a supply glut intensifying price wars in the industry. The results closely follow those of bigger rival Dick’s Sporting, which warned on Tuesday that its gross margins could Read More…
NEW YORK (Reuters) – The top U.S. securities regulator on Friday dropped its civil lawsuit accusing two former JPMorgan Chase & Co (JPM.N) traders of trying to hide some of the bank’s $6.2 billion of losses tied to the 2012 “London Whale” scandal. The decision by the U.S. Securities and Exchange Commission to dismiss charges Read More…
Two members of Tenet Healthcare Corp.’s board of directors, who represent the company’s largest institutional shareholder, have resigned their posts, citing “irreconcilable differences” over significant matters involving the company. Randy Simpson and Matt Ripperger, who joined the board early last year and are both partners at Glenview Capital Management LLC, notified the board’s 10 other Read More…