7.0 Is Here!
iDevAffiliate 7
Price: $99.99 USD



more information

News

Aramco listing plan halted, oil giant disbands advisors – sources

(Reuters) – Saudi Arabia has called off both the domestic and international stock listing of state oil giant Aramco, billed as the biggest such deal in history, four senior industry sources said on Wednesday. The financial advisors working on the proposed listing have been disbanded, as Saudi Arabia shifts its attention to a proposed acquisition of a “strategic stake” in local petrochemicals maker Saudi Basic Industries Corp 2010.SE, two of the sources said. “The decision to call off the IPO was taken some time ago, but no-one can disclose this, so statements are gradually going that way – first delay then calling off,” a Saudi source familiar with the IPO plans said. ADVERTISEMENT Saudi Aramco did not immediately respond to an emailed request for commen...

Tech billionaire, Wells Fargo heir’s ex busted for drug trafficking

Henry T. Nicholas III was arrested in a Las Vegas resort-casino with Ashley FargoLVMPD Tech billionaire Henry T. Nicholas III was arrested on drug trafficking charges this week at a Las Vegas Strip casino-resort — alongside the ex-wife of an heir to the Wells Fargo fortune, according to new reports. Nicholas III, 58, was busted Tuesday on suspicion of trafficking heroin, cocaine, meth and ecstasy, Las Vegas police officer Larry Hadfield told CBS News. When Nicholas couldn’t get into his room at the Encore, security assisted him and found Ashley Fargo — the ex-wife of Brian Fargo, an heir to the Wells Fargo fortune — passed out with a semi-deflated balloon in her mouth, TMZ reported. Paramedics were able to revive her. Security found canisters of nitrous oxide in the room — and a further se...

China slaps retaliatory tariffs on $16 billion of U.S. goods

The game of trade war “chicken” heats up — but Chinese exports continue to rise. by Ben Popken / Aug.08.2018 / 1:58 PM ET A container ship prepares to depart port in Long Beach, California, on July 16.Mike Blake / Reuters file.  China struck back Wednesday at the U.S. with $16 billion in retaliatory tariffs, exactly matching President Donald Trump’s latest escalation in the ongoing international trade war. The Chinese Ministry of Commerce declared a 25 percent levy on certain U.S. goods, including coal, crude oil, automobiles, motorcycles and scrap metal. The move follows the U.S. Trade Representative’s office publishing its final list on $16 billion in Chinese goods, effective Aug. 23. That comes on top of $34 billion in tariffs against China already in effect, bri...

China Retaliates With New Tariffs as Trump’s Trade War Escalates

President Xi and President Trump. Photo: Fred Dufour/AFP/Getty Images China, as promised, officially announcednew retaliatory tariffs on U.S. goods on Saturday, claiming that the Trump administration had “launched a trade war” with Friday’s imposition of 25 percent tariffs on some $50 billion worth of Chinese exports. China’s Commerce Ministry released a statement early Saturday morning insisting the country did not want a trade war, but would nonetheless “fight back vigorously” now that the U.S. is starting one. “We will immediately launch tariff measures that will match the scale and intensity of those launched by the United States,” the ministry said, announcing its own 25 percent tariffs on $50 billion worth of U.S. exports. China says its tariffs will follow the same time line as the ...

Papa John had a bad day – losing everything

How was your Wednesday? It was likely better than that of Papa John’s Pizza founder John Schnatter, who resigned from just about every position he still held after it emerged that he used the n-word during a [checks notes] sensitivity training session. According to a Forbes report, last month Papa John took part in a conference call with a marketing agency brought in to prevent Papa from shooting himself in the foot again, as he did in November when he claimed that NFL player protests were hurting his pizza sales and [checks notes again] “white supremacists praised Schnatter’s comments.” Papa soon stepped down as CEO and the NFL ended its sponsorship deal, but the damage was done. ADVERTISEMENT In June’s conference call, Papa was asked “how he would distance himself from racist groups onli...

What you need to know about the Wells Fargo settlement

The Wells Fargo Settlement Darla Mercado | @darla_mercado Published 2 Hours AgoCNBC.com The bank estimates it will pay about $182 million to affected car loan borrowers. Some 110,000 homeowners were assessed about $98 million in mortgage rate lock extension fees between Sept. 16, 2013 and Feb. 28, 2017. Andres S | Getty Images Couple buying a new car and signing the contract The checks should be the mail for consumers affected by alleged improper auto loan and mortgage practices at lending giant Wells Fargo. The Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency announced a $1 billion settlement with the bank on Friday. The penalties relate to fees assessed on mortgage interest rate lock extensions — money that prospective homebuyers pay to keep an offer...

Uber is launching a rental car service inside its app

  Uber is launching a rental car network in partnership with Getaround, the ride-hailing company announced today (April 11). San Francisco-based Getaround lets users find and instantly book vehicles from private car owners, all through a mobile app. The new Uber Rent platform, which is scheduled to launch later this month in San Francisco, will make cars from Getaround’s network available to users of the Uber app. The deal comes as Uber expands beyond its flagship on-demand rides and into other modes of local transportation. On April 9, the company said it had purchased Jump Bikes, a provider of dockless electric bicycles. Also today, Uber announced a partnership with London-based Masabi, a mobile ticketing company that Uber said will help customers book and use public transit tickets...

What Zuckerberg should do as Facebook faces a reputation meltdown

This is how it, and the wider industry, should respond, LAST year the idea took hold that Mark Zuckerberg might run for president in 2020 and seek to lead the world’s most powerful country. Today, Facebook’s founder is fighting to show that he is capable of leading the world’s eighth-biggest listed company or that any of its 2.1bn users should trust it. News that Cambridge Analytica (CA), a firm linked to President Donald Trump’s 2016 campaign, got data on 50m Facebook users in dubious, possibly illegal, ways has lit a firestorm (see article). Mr Zuckerberg took five days to reply and, when he did, he conceded that Facebook had let its users down in the past but seemed not to have grasped that its business faces a wider crisis of confidence. After months of talk about propaganda and fake n...

Fiat Chrysler to invest $1 billion in Michigan plant, pay bonus after tax cut

An employee removes side panels from a press at Fiat-Chrysler’s Sterling Stamping Plant in Sterling Heights, Michigan, on Aug. 26, 2016. (Jeff Kowalsky / Bloomberg) Jamie Butters and Ryan BeeneBloomberg Fiat Chrysler Automobiles is investing $1 billion in a Michigan truck factory and paying worker bonuses in the wake of a U.S. tax cut, gestures that could come in handy amid major policy matters being sorted out in Washington. The Italian-American automaker will share the spoils of a lower corporate tax rate by sending $2,000 checks to about 60,000 U.S. workers. Fiat Chrysler also will spend more than $1 billion and add 2,500 jobs at a factory near Detroit to produce heavy-duty Ram pickups that the company has been making in Mexico. The moves may prove useful to Fiat Chrysler’s ...

Wal-Mart to Cut Thousands of Store-Management Roles

Wal-Mart to Cut Thousands of Store-Management Roles About 3,500 U.S. store co-managers affected by reshuffle Retailer adding 1,700 new assistant store-manager positions Wal-Mart to Increase Starting Wages to $11 Wal-Mart to Increase Starting Wages to $11 A day after embarking on a pay hike, Wal-Mart Stores Inc. is taking steps to shake up management at thousands of its stores. The world’s biggest retailer is removing about 3,500 store co-managers, a salaried role that acts as a lieutenant underneath each store manager, according to people familiar with the move. It’s also adding about 1,700 assistant store managers, a slightly lower-paid role, who will oversee fast-growing areas like online orders, one of the people said. All co-managers will be notified Friday, and those affected will be ...

Shari Redstone once again eyeing a merger of CBS and Viacom

Shari Redstone is vice chair of both CBS Corp. and Viacom Inc. (Drew Angerer / Getty Images) Shari Redstone wants to recombine CBS Corp. and Viacom Inc. to better fortify the two medium-sized media companies at a time when other entertainment companies are scrambling to bulk up. There are no merger talks underway, three people familiar with the matter who were not authorized to publicly discuss the situation said Friday. However, Redstone, whose family controls the voting shares of CBS and Viacom, ​​increasingly sees a merger as a compelling option for the two companies that have operated separately for 12 years, according to these people. Redstone, who serves as vice chair of both companies, has expressed her feelings to the leadership and boards of the two entities, according to the sour...

Sears warns it will consider ‘all options’ if efforts to refinance $1 billion in debt fail

Sears’ same-store sales dropped 16 to 17 percent for the first two months of the fourth quarter. The department store chain has raised $100 million in new financing and is pursuing an additional $200 million from other lenders. Sears is pushing to return to profitability and will continue to explore ways to monetize its other assets. Lauren Thomas | @laurenthomasx3 Published 4 Hours Ago Updated 1 Hour AgoCNBC.com PLAY VIDEO Sears Holdings said Wednesday it suffered another disappointing holiday season, making it more challenging as the struggling retailer scrambles to refinance its debt. The parent company of Sears and Kmart stores said it’s in talks with lenders about transactions that would strengthen its balance sheet and improve the terms on more than $1 billion of debt. Th...

  • 1
  • 2
  • 4