New York Posts – Business

  • Facebook fires back at former exec who says it’s ‘ripping apart’ society
    by Nicolas Vega on December 12, 2017 at 8:08 pm

    Facebook is hitting back at a former executive who blasted the company for “ripping apart the social fabric.” Chamath Palihapitiya, Facebook’s former vice president of user growth, told CNBC this week he feels “tremendous guilt” over the way the social network manipulates its users’ brains, saying his children are “not allowed to use this s—t.”... […]

  • Bitcoin exchanges get slammed by website outages
    by Reuters on December 12, 2017 at 6:16 pm

    Digital currency exchange operators Coinbase and Bitfinex reported problems with service through their websites on Tuesday, frustrating traders seeking to cash in on the latest surge in the value of bitcoin and other cryptocurrencies. Wallet-provider Coinbase’s website showed “service unavailable” early on Tuesday US time, flashing a message that said it was down for maintenance.... […]

  • Sexual misconduct costs companies millions
    by Fox Business on December 12, 2017 at 5:19 pm

    Sexual misconduct has proven to be very costly for individuals’ reputations and careers in 2017, from Matt Lauer to Harvey Weinstein to Sen. Al Franken, but individuals aren’t the only ones who feel the fallout. Executive scandals can also severely hit businesses’ bottom lines. A study conducted by University of Missouri finance professor Adam Yore... […]

  • German grocer Lidl’s US growth spurt is losing steam
    by Lisa Fickenscher on December 12, 2017 at 4:38 pm

    Lidl is losing its appetite for big stores. The fast-growing German discount grocer has recently switched gears and will now include in its expansion plans store locations the size of a drugstore — or less than half the size of its original growth strategy, The Post has learned. After charging out of the gate in... […]

  • Trump’s tweet proves he won’t let CFPB stay independent: suit
    by Kevin Dugan on December 12, 2017 at 4:30 pm

    President Trump’s surprise tweet last week that threatened higher fines for Wells Fargo is proof that he has no plans to let the Consumer Financial Protection Bureau stay independent, a federal lawsuit alleges. The Tuesday brief from a New York credit union — which is trying to prevent the president’s pick, Mick Mulvaney, from taking... […]

  • PepsiCo orders 100 of Tesla’s all-electric Semi trucks
    by Reuters on December 12, 2017 at 2:25 pm

    PepsiCo has reserved 100 of Tesla’s new electric Semi trucks, the largest-known order of the big rig, as the maker of Mountain Dew soda and Doritos chips seeks to reduce fuel costs and fleet emissions, a company executive said on Tuesday. Tesla has been trying to convince the trucking community that it can build an... […]

  • Morgan Stanley buys stake in Overstock cryptocurrency
    by Kevin Dugan on December 12, 2017 at 3:53 am

    Morgan Stanley went shopping at Overstock.com — and it had nothing to do with the discounted leather sofas. The Wall Street bank has purchased an 11.4 percent stake in the Web retailer just days before the Salt Lake City company’s cryptocurrency trading goes live. The disclosure, in a regulatory filing by the bank, sent the... […]

  • Mattel warns holiday sales will be lower than projected
    by Lisa Fickenscher on December 12, 2017 at 3:36 am

    Santa Claus is handing Mattel a lump of coal for Christmas. The struggling California toy maker warned investors on Monday that its holiday sales will be lower than expected — by the mid-to-high single digits. Last year, the maker of Barbie, Hot Wheels and Fisher-Price reported sales fell 3 percent in the holiday quarter. As... […]

  • How to buy bitcoin, if you dare
    by News.com.au on December 11, 2017 at 8:30 pm

    So you’ve finally decided to buy bitcoin — join the line. As the price of the red-hot cryptocurrency continues to march inexorably higher, most of us are sitting around wishing we’d bought some a year or even a week ago. The cryptocurrency is clearly volatile — over the weekend, it lost around one-fifth of its... […]

  • SEC blocks restaurant app’s ‘initial coin offering’
    by Kevin Dugan on December 11, 2017 at 8:22 pm

    Federal regulators clamped down on an “initial coin offering” from a restaurant review app, saying the company failed to register its digital coins as securities. In a move that signals how the Securities and Exchange Commission aims to police a recent deluge of so-called ICOs of bitcoin-like cryptocurrencies, the SEC stopped a Yelp-like app called... […]