James Stack’s career as a financial advisor is testament to the fact that you can understand the movements of the stock market while working 2,200 miles away from it. A native of western Montana, Stack made a decision to forgo life in a financial center for the pleasures of working in Whitefish, in the middle 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…
Dive Brief: OSHA has cited a Montana highway contractor for 26 serious and two other violations and proposed fines totaling $225,425 in connection with an accident during which three employees sustained burns and one worker fell. The agency’s initial press release in April reported 23 serious violations and fines of $261,418. The agency said three Read More…
OTTAWA (Reuters) – Canada will move quickly to ratify the new North American trade pact, Foreign Minister Chrystia Freeland said on Saturday, a day after the United States agreed to lift tariffs on Canadian steel and aluminum. FILE PHOTO: Canada’s Foreign Minister Chrystia Freeland takes part in a bilateral meeting with U.S. Secretary of State Read More…
BASRA, Iraq/DUBAI (Reuters) – Exxon Mobil has evacuated all of its foreign staff, around 60 people, from Iraq’s West Qurna 1 oilfield and is flying them out to Dubai, a senior Iraqi official and three other sources told Reuters on Saturday. A logo of the Exxon Mobil Corp is seen at the Rio Oil and Read More…
FILE PHOTO: Gas flares from an oil production platform at the Soroush oil fields in the Persian Gulf, south of the capital Tehran, July 25, 2005. REUTERS/Raheb Homavandi/File Photo (Reuters) – Iran has adopted new tactics and new destinations in shipping its oil exports following the re-imposition of U.S. sanctions, a senior Iranian maritime official Read More…
BASRA, Iraq/DUBAI (Reuters) – Exxon Mobil has evacuated all of its foreign staff from Iraq’s West Qurna 1 oilfield and is flying them out to Dubai, a senior Iraqi official and three other sources told Reuters on Saturday. A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Read More…
JEDDAH, Saudi Arabia (Reuters) – Saudi Arabia’s Energy Minister Khalid al-Falih said on Saturday that he saw no oil supply shortage as global oil inventories are still rising, particularly from the United States, but OPEC will be responsive to the oil market’s needs. Saudi Minister of Energy Khalid al-Falih speaks during financial sector conference in Read More…
Overstock Chief Executive Patrick Byrne blasted investors who questioned his recent stock sale, calling their criticism “gauche” and vowing never to defend his selling again. The fiery letter to shareholders follows a 21 percent drop in the company’s stock on Wednesday and Thursday after Overstock revealed in a regulatory filing that the CEO had sold Read More…
FILE PHOTO: An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. REUTERS/Lindsey Wasson (Reuters) – Boeing Co has made corrections to simulator software that mimics the flying experience of its 737 MAX jets, which were involved in two fatal crashes, and Read More…
Despite criticisms that it’s helping promote an “epidemic” in teen vaping, e-cigarette maker Juul continues to attract new investors, The Post has learned. Last week, mutual fund giant Capital Re bought a bunch of Juul Labs shares in the secondary market at a price that values the company at more than the $38 billion valuation Read More…
Christine Lagarde, Managing Director and Chairwoman of the International Monetary Fund, delivers a speech during a high-level forum on debt at the Finance ministry in Paris, France, May 7, 2019. REUTERS/Benoit Tessier TASHKENT (Reuters) – The trade war between the United States and China could be a risk to the world economic outlook if it Read More…
Tesla’s stock slid Friday after Elon Musk warned that the electric-car maker could run out of cash in less than a year — even as US regulators revealed that Tesla’s controversial “Autopilot” software was activated during yet another fatal crash. In a Thursday memo to employees, Tesla’s chief executive said the company will run out Read More…
Casino giant MGM Resorts told federal regulators Thursday it might pay up to $800 million to settle liability lawsuits stemming from the 2017 mass shooting in Las Vegas — the deadliest in modern US history. “The company believes it is reasonably possible that a settlement will be reached” by next May, it told the Securities Read More…
Pinterest shares slumped as much as 17% on Friday after the online scrapbook company’s disappointing annual forecast shook investors’ faith in its ability to turn in a profit soon. The fall in shares after Pinterest’s first quarterly results as a public company took some of the shine off its successful stock market debut last month. Read More…
Beverly Hills City Hall in Beverly Hills, California on January 13, 2018. Raymond Boyd | Michael Ochs Archives | Getty Images LOS ANGELES — The Beverly Hills City Council will consider a first-in-the-nation ban on all tobacco sales next Tuesday. The ordinance would apply to cigarettes, cigars, pipe tobacco, chewing tobacco and electronic cigarettes sold Read More…
LONDON — Amazon is investing in British meal delivery company Deliveroo, expanding its reach into food retailing. Deliveroo said Friday that it raised $575 million from investors led by Amazon. It said Amazon will become Deliveroo’s largest investor, though it did not disclose how much Amazon put in or how large a stake it acquired. Read More…
Investors sent shares of Sony up more than 4% Thursday after the electronics maker issued a one-two punch of good news, including plans to double down on its newly launched stock buyback program. The Tokyo company Thursday announced plans to spend as much as 200 billion yen, or $1.8 billion dollars, buying back 4.8% of Read More…
Netflix, Amazon Prime Video, Disney+ and…Pluto TV? Viacom boss Bob Bakish is betting big on a little-known startup to compete among a fast-growing crop of video-streaming titans — but media insiders wonder whether the millennial viewers he’s targeting will have any time for it. Under Bakish, the owner of MTV, Comedy Central and Nickelodeon shelled Read More…
Don’t piss off Vita Coco… The coconut water brand will apparently go to any lengths to get people to try its new product — even if it means sending a jar of one of its employee’s pee to a Twitter troll. Coconut water is a divisive flavor. Its popularity over the last decade has spurred Read More…
Chick-fil-A is taking the high road in response to a handful of liberal critics alleging the popular fast food restaurant is hostile to LGBTQ individuals. The executive director of the Chick-fil-A Foundation and Chick-fil-A’s vice president of corporate social responsibility, Rodney Bullard, told Business Insider the Christian-owned company has “a much higher calling than any Read More…
James Stack’s career as a financial advisor is testament to the fact that you can understand the movements of the stock market while working 2,200 miles away from it. A native of western Montana, Stack made a decision to forgo life in a financial center for the pleasures of working in Whitefish, in the middle Read More…
Analysts say Amazon is poised to disrupt the $934.8 billion dollar global pharmaceutical industry. PillPack Nimble Pharmacy was among a crop of emerging companies, backed by venture capitalists, aiming to deliver prescription drugs from their own pharmacies to consumers’ homes or offices. Then Amazon bought online pharmacy PillPack in 2018, and Nimble needed to find Read More…
With help from Alex Guillén, Gavin Bade, Zack Colman, Annie Snider and Anthony Adragna Editor’s Note: This edition of Morning Energy is published weekdays at 10 a.m. POLITICO Pro Energy subscribers hold exclusive early access to the newsletter each morning at 6 a.m. To learn more about POLITICO Pro’s comprehensive policy intelligence coverage, policy tools Read More…
The European Union fined Barclays, Citigroup, JP Morgan, MUFG and Royal Bank of Scotland a combined 1.07 billion euros ($1.2 billion) on Thursday for rigging the multi-trillion dollar foreign exchange market. Banks have been hit with billions of dollars in fines worldwide over the last decade for the rigging of benchmarks used in many day-to-day Read More…
Walmart said on Thursday that prices for shoppers will go up due to higher tariffs on imports from China as the world’s largest retailer reported its best comparable sales growth for the first quarter in nine years. Walmart shares, which have gained 7% so far this year, rose 2.4% to $102.30 in pre-market trade. US Read More…
Alan Greenspan, who used to be an important person, says the government’s inflation figures are wrong. Esther George, who is still important — as the head of the Kansas City Federal Reserve, — also says the inflation numbers are wrong. But George thinks they are wrong for the opposite reason as Greenspan who, as boss Read More…
The hospitality industry is rattled over a fresh wave of letters from the feds demanding the verification of employees’ Social Security numbers, The Post has learned. After a seven-year hiatus, the Social Security Administration has begun sending out so called “no-match” letters to employers across the country, alerting them that the W-2 forms they submitted Read More…
With help from Gavin Bade, Eric Wolff and Annie Snider Editor’s Note: This edition of Morning Energy is published weekdays at 10 a.m. POLITICO Pro Energy subscribers hold exclusive early access to the newsletter each morning at 6 a.m. To learn more about POLITICO Pro’s comprehensive policy intelligence coverage, policy tools and services, click here. Read More…
Founders: Rob Frohwein (CEO), Kathryn Petralia (President), Marc GorlinLaunched: 2009Headquarters: AtlantaFunding: $489 millionValuation: $1.2 billion (PitchBook)Key technologies: Artificial intelligence, cloud computing, machine learningIndustry: Credit, financial services, lending George Kavallines | CNBC Small businesses are continuously touted as the lifeblood of the U.S. economy, but it doesn’t seem like the big banks know that. Getting a 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…
Dive Brief: OSHA has cited a Montana highway contractor for 26 serious and two other violations and proposed fines totaling $225,425 in connection with an accident during which three employees sustained burns and one worker fell. The agency’s initial press release in April reported 23 serious violations and fines of $261,418. The agency said three Read More…
With help from Ben Lefebvre, Anthony Adragna and Zack Colman Editor’s Note: This edition of Morning Energy is published weekdays at 10 a.m. POLITICO Pro Energy subscribers hold exclusive early access to the newsletter each morning at 6 a.m. To learn more about POLITICO Pro’s comprehensive policy intelligence coverage, policy tools and services, click here. Read More…
Howard Adler Kurt S. Adler In the escalating trade war between the U.S. and China, who pays? In a word, my family does. We are leading importers of Christmas decorations and have been in business since 1946. President Donald Trump‘s imposition of a 10% tariff last September on many categories of products we offer has Read More…
Editor’s Note: This edition of Morning Energy is published weekdays at 10 a.m. POLITICO Pro Energy subscribers hold exclusive early access to the newsletter each morning at 6 a.m. To learn more about POLITICO Pro’s comprehensive policy intelligence coverage, policy tools and services, click here. QUICK FIX — Senate Minority Leader Chuck Schumer wants to Read More…
With help from Alex Guillén, Gavin Bade, Annie Snider and Daniel Lippman Editor’s Note: This edition of Morning Energy is published weekdays at 10 a.m. POLITICO Pro Energy subscribers hold exclusive early access to the newsletter each morning at 6 a.m. To learn more about POLITICO Pro’s comprehensive policy intelligence coverage, policy tools and services, Read More…
MISSOULA – Move over, White Claw. This month, Big Sky Brewery unveiled its own brand of spiked seltzers, featuring flavors familiar to the Treasure State. Though the Big Sky Spiked Seltzer is a far different beverage than longtime flagship beers such as Moose Drool and Summer Honey, the company says Spiked Seltzer still follows the 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…
Editor’s Note: This edition of Morning Energy is published weekdays at 10 a.m. POLITICO Pro Energy subscribers hold exclusive early access to the newsletter each morning at 6 a.m. To learn more about POLITICO Pro’s comprehensive policy intelligence coverage, policy tools and services, click here. QUICK FIX — Lawmakers aren’t waiting on EPA to deal Read More…
Mark Zuckerberg testifies before the House Energy and Commerce Committee in the Rayburn House Office Building on Capitol Hill April 11, 2018. Chip Somodevilla | Getty Images Facebook shares have whipsawed in the past year, falling from close to $220 last summer to a low around $125 in early 2019 before climbing back to near-$190. Read More…