(The Center Square) – A federal judge has blocked the $24.6 billion proposed merger between Albertsons and Kroger in response to a lawsuit filed against it by the Federal Trade Commission and several states. In the ruling, Oregon-based U.S. District Judge Adrienne Nelson argued that the merger “is a plausible, relevant market for antitrust purposes,” Read More…
Legendary investor Warren Buffett, CEO of Berkshire Hathaway (NYSE: BRK.A, NYSE: BRK.B), continues to captivate the financial world with his investment moves. As of November 14, Berkshire’s Class A shares have delivered a staggering cumulative return exceeding 5,660,000% under Buffett’s nearly six decades of leadership. Recent filings with the Securities and Exchange Commission (SEC) reveal Read More…
Goldman Sachs is considering spinning out its technology platform under the bank’s digital assets business, the company announced on Monday. The spin-out is still in its early planning stages, with the firm aiming to establish the new entity within the next 12 to 18 months. The platform, known as GS DAP, focuses on digital assets Read More…
The Wyoming Business Council (WBC) is proud to announce the launch of a new Job Board through Wyoming Venture Capital (WYVC), aimed at enhancing support for its portfolio companies and partners. This initiative addresses the ongoing challenges of recruiting qualified talent in Wyoming while providing job seekers with a streamlined resource to explore employment opportunities Read More…
Walmart is making further organizational changes as it continues to integrate its store and digital operations and leadership, according to a memo obtained by CNBC that was sent by CEO Doug McMillon to the retailer’s employees. “Our customers want one, seamless Walmart experience,” McMillon wrote to employees. “Earning more of our customers’ business in food and Read More…
WASHINGTON— Amazon.com Inc. AMZN +1.38% Chief Executive Jeff Bezos tries never to schedule a meeting before 10 a.m. “I go to bed early, I get up early, I like to putter in the morning” reading the newspaper, drinking a cup of coffee and eating breakfast with his children, he said. Mr. Bezos schedules “high IQ” meetings before lunch, and tries Read More…
Now that the trade war between the US and China is on, observers on both sides are wondering what more China will do to retaliate against the US. One measure China could take that keeps popping up in conversation is that the country could start dumping its massive hoard of $1.1 trillion worth of US Read More…
Apple stock plunged nearly 6% Monday after the U.S. Supreme Court ruled that Apple customers can sue the company over prices on its App Store. The 5-to-4 ruling lets consumers move forward with a long-running lawsuit that claims Apple (ticker: AAPL) is using its market dominance to inflate prices via a 30% commission at its Read More…
Everything goes through a lifecycle, and operating systems are no different. They start out as new and fresh and full of possibilities and go through an explosive phase of stratospheric growth. This is the exciting period. But going along with that growth are the inevitable teething troubles or bugs and problems and sleepless nights. And Read More…
Intello, the New York City-based Saas management platform, announced a $2.5 million extended seed round today, along with some product enhancements. The round was led by Resolute Ventures . Harrison Metal and Magnetico Ventures also participated along with various individual angel investors including Zane Lackey from Signal Sciences, Chris Smoak from Atrium and Zach Sherman Read More…
Though not generating the fanfare that its new ConceptD computers have, Acer also introduced a pair of new Chromebooks at its press event this week. Unlike its numerous education models, however, these new laptops are designed to appeal to enterprises that want to add Chromebooks to their mobile fleet. The Chromebook 714 and 715 may Read More…
Shopko will close its remaining stores across the country, including all of its Montana locations. According to a document filed on March 18, the company will close all of its remaining locations by June. The company stated in a press release that it was unable to find a buyer for the business, which declared bankruptcy Read More…
It’s not unusual for companies to be inundated with messages from people looking for answers — what is rare, however, is for a CEO to personally respond to one. Yet one 10-year-old schoolboy appears to have succeeded, grabbing the attention of the boss behind one of Australia’s largest airlines. Alex Jacquot recently penned a letter Read More…
799 Comments By Shayndi Raice and Shayndi Raice The Wall Street Journal Biography @Shayndi www.facebook.com/shayndi Shayndi.Raice@wsj.com Paul Overberg | Photographs by Paul Overberg The Wall Street Journal Biography @poverberg paul.overberg@wsj.com Daniel Acker for The Wall Street Journal March 4, 2019 10:29 a.m. ET An Amtrak train from St. Louis to Chicago hurtles past Dwight, Ill. Read More…
Cheniere Energy’s liquefied natural gas export terminal in Texas, in October 2018. Photo: Eddie Seal/Bloomberg News 2 Comments By Christopher M. Matthews Christopher M. Matthews The Wall Street Journal Biography Updated March 4, 2019 6:33 p.m. ET Cheniere Energy Inc.’s LNG 1.56% expected $18 billion deal to supply natural gas to China signals the company’s Read More…
Facebook and Instagram are pushing back against a practice known as cybersquatting. Photo: Yui Mok/PA Wire/Zuma Press 11 Comments By Shan Li Shan Li The Wall Street Journal Biography @ByShanLi shan.li@wsj.com Updated March 4, 2019 9:48 a.m. ET BEIJING— Facebook Inc. FB 0.28% and its photo-sharing app Instagram sued four companies and three people based Read More…
Venezuela’s U.S.-backed opposition leaders asked a federal appeals court to refrain from carving up the country’s foreign assets, saying their loss would hurt the chances of political change in Caracas. The opposition’s parallel government filed papers Friday urging the U.S. Court of Appeals in Philadelphia to support the Trump administration’s push for regime change in Read More…
Walt Disney CEO Robert Iger’s pay package jumped 81% to $65.6 million in the year ended in September. Photo: Michael Nagle/Bloomberg News 6 Comments By Micah Maidenberg and Micah Maidenberg The Wall Street Journal Biography @MicahMaidenberg micah.maidenberg@wsj.com Erich Schwartzel Erich Schwartzel The Wall Street Journal Biography @erichschwartzel erich.schwartzel@wsj.com Updated March 4, 2019 2:21 p.m. ET Read More…
Gold was discovered in Nevada in the late 19th century, but it was Newmont Mining that kicked off the state’s gold mining boom in the 1960s with a find on the so-called Carlin Trend. Photo: rick wilking/Reuters 10 Comments By Alistair MacDonald and Alistair MacDonald The Wall Street Journal Biography Jacquie McNish Jacquie McNish The Read More…
Traders have begun pricing in a small chance of the Federal Reserve cutting rates this year, a move that could nudge inflation higher. Above, Fed Chairman Jerome Powell. Photo: Joshua Roberts/Getty Images 106 Comments By Akane Otani Akane Otani The Wall Street Journal Biography @akaneotani akane.otani@wsj.com Updated March 3, 2019 2:28 p.m. ET Bets on Read More…
U.S. Trade Representative Robert Lighthizer and European Trade Commissioner Cecilia Malmstrom took part in a meeting on steel overcapacity last March in Brussels. Photo: Stephanie Lecocq/Press Pool 19 Comments By Emre Peker Emre Peker The Wall Street Journal Biography @wsjemre emre.peker@dowjones.com March 4, 2019 7:00 a.m. ET BRUSSELS—U.S. and European trade negotiators face growing domestic Read More…
Philip Morris said Monday that it plans to take a pretax charge of $194 million in the first quarter due to the ruling. Photo: Daniel Acker/Bloomberg News 2 Comments By Micah Maidenberg Micah Maidenberg The Wall Street Journal Biography @MicahMaidenberg micah.maidenberg@wsj.com March 4, 2019 12:29 p.m. ET Philip Morris International Inc. cut its profit outlook Read More…
Ted Baker founder Ray Kelvin at the Carondelet House on Aug. 12, 2015 in Los Angeles. Photo: Ari Perilstein/Getty Images 4 Comments By Ian Walker Ian Walker The Wall Street Journal Biography March 4, 2019 8:06 a.m. ET British fashion retailer Ted Baker PLC said its founder and chief executive has resigned with immediate effect Read More…
Believe it or not, there’s money in podcasts. Spotify is in advanced talks to acquire Gimlet Media, the Brooklyn-based narrative podcast company, for more than $200 million in cash, according to Recode. Gimlet has raised approximately $28.5 million in venture funding from investors including WPP, Stripes Group, LioneTree Partners, Graham Holdings, Betawarks, Cross Culture Ventures, Read More…
General Electric‘s cash problem will look better in 2019 after an accounting change takes effect, an accounting professor says. For reporting periods beginning after December 15, 2018, all public US companies should apply a new accounting standard that requires them to recognize financing-lease assets and operating-lease assets on their balance sheets. The previous accounting term Read More…
Alphabet shares traded slightly lower Tuesday morning as Wall Street delivered a classic reaction to its earnings which were released the prior evening: the results were good, but not good enough. While Alphabet reported revenue and profits for the fourth-quarter that topped Wall Street’s expectations, analysts said the internet giant’s margins were disappointing. That revelation Read More…
Former San Francisco 49ers quarterback Joe Montana knows an opportunity when he sees one, and one of the largest growing industries is cannabis. The NFL Hall of Famer joined former CEO of Yahoo Carol Bartz and invested in Caliva, a San Jose-based weed dispensary and delivery service, raising $75 million in funding, the company said Thursday. Read More…
In 1992, Ozzy Osbourne hit the road for his farewell “No More Tours” run. In 2019, there’s the sequel, “No More Tours II.” That would seem to contradict the whole “farewell” thing, but such is the way with rock ‘n’ roll. It’s become as predictable as the concert encore. Time and again, artists book “one final Read More…
Facebook has recruited Kate Patchen, a veteran of the U.S. Department of Justice who led its antitrust office in Silicon Valley, to be a director and associate general counsel of litigation. Patchen takes up her post amid ongoing scandals and reputation crises for her new employer, joining Facebook this month, according to her LinkedIn profile. The Read More…
Bitcoin and the broader cryptocurrency market plunged on Wednesday after the U.S. Securities and Exchange Commission delayed a decision on whether to approve a proposed bitcoin exchange-traded fund (ETF). The federal agency said it will continue deliberations on the bitcoin ETF, which, if approved, would be the first of its kind. The bitcoin ETF, which Read More…
Elon Musk’s lawyers are probably poring over rule 14e-8 of the Securities Exchange Act of 1934 right about now. That regulation is the one the Tesla CEO may or may not have violated when he sent the markets into a frenzy and halted trading in Tesla’s shares after nonchalantly tweeting Tuesday that he was thinking Read More…
A startup unicorn is joining the streaming-video fray. Media mogul Jeffrey Katzenberg has raised $1 billion for a new mobile streaming service he’s calling “NewTV,” CNN reports. Disney, Warner Bros, Entertainment One, and other major media firms have invested. Katzenberg recruited in January former eBay and HP CEO Meg Whitman to helm “NewTV.” The service Read More…
Apple shares are jumping Wednesday after a strong fiscal third-quarter report, trading more than 5 percent higher and inching the stock toward a $1 trillion market value. The stock hit the $200 mark in midmorning trading after opening at $199.13. Shareholders had previously been looking for a price of $203.45 to make Apple the first Read More…
Wendy’s had preliminary merger talks with Papa John’s before the company’s founder, John Schnatter, stepped down as chairman last week, a source familiar with the situation told CNBC. The talks cooled after Schnatter’s use of a racially charged slur led to his resignation. Schnatter still sits on Papa John’s board and has a nearly 30 Read More…
Amazon’s Prime Day again broke records this year, but the sales holiday also boosted sales across the broader U.S. e-commerce industry. According to Adobe Analytics data released this morning, larger retailers – meaning those with over a billion in annual revenue – saw a 54 percent increase in sales on Prime Day, compared with an Read More…
Tech-driven disruption in the insurance industry continues at pace, and we’re now entering a new phase — the adaptation of underlying business models. That’s leading to ongoing changes in the distribution segment of the industry, but more excitingly, we are starting to see movement in the fundamentals of insurance — policy creation, underwriting, and claims Read More…
Judge Kimberly Mueller on June 10, 2016 in the U.S. Eastern District Court of California found that John Duarte, a nursery operator and wheat farmer, plowed wetlands, four to six inches deep, and therefore violated the Clean Water Act (CWA). The Judge found Mr. Duarte, by chiseling a pasture, discharged fill material into a water Read More…
Venture capital-backed companies based out of California are usually recognizable. But what can get lost in the mix are the companies based throughout the rest of the country. VC research firm Pitchbook compiled every state’s most valuable VC-backed startup into an interactive graphic. READ THE FULL STORY.
MONTANA – AMC Theatres, the world’s largest movie theater chain, has unveiled a $20-a-month subscription service as a rival the flagging MoviePass. The theater chain on Wednesday unveiled a new service to its loyalty program, AMC Stubs, allowing subscribers to see up to three movies a week for a monthly fee of $19.95. That’s more Read More…
A federal judge said Tuesday that AT&T’s $85.4 billion purchase of Time Warner is legal, clearing the path for a deal that gives the pay-TV provider ownership of cable channels such as HBO and CNN as well as film studio Warner Bros. U.S. District Court Judge Richard Leon did not impose conditions on the merger’s Read More…
An obscure wireless industry deal from last year can help explain why T-Mobile and Sprint finally agreed to merge this week after years of flirting with a deal. Last May, Verizon signed a deal to buy acompany called Straight Path for more than $3 billion. If you remember the deal, it’s probably because AT&T and Read More…
The Florida-based operator of supermarket chains Winn-Dixie and Bi-Lo announced Tuesday that it’s the latest grocery chain to file for Chapter 11 bankruptcy, after a New York-based chain, Tops Friendly Markets, filed earlier this month. While rumors of the filings have been swirling for months, the chains didn’t start officially filing in court until the Read More…
VAN NUYS (CBSLA) — An online prankster is targeting In-N-Out Burger and now the chain is taking legal action. When a man in a dark suit walked into an In-N-Out in Van Nuys and claimed to be their CEO, some believed him, but the manager wasn’t convinced. “Who are you?” the exchange started. “I’m actually Read More…
Lyft made a lot of progress in 2017, helped by strong market expansion within the U.S. and riding some very bad news from its primary rival, Uber. That’s helped it grow revenue to more than $1 billion as measured by GAAP standards for its fiscal 2017, with a particularly strong Q4 during which its revenue Read More…