New York Posts – Business

  • Peter Thiel has sold most of his remaining Facebook stake
    by Reuters on November 22, 2017 at 6:01 pm

    Venture capitalist Peter Thiel, Facebook Inc’s first institutional investor, has sold three-quarters of his remaining stake in the social network, according to a regulatory filing on Tuesday. Thiel, who is a member of Facebook’s board, now owns 59,913 Class A shares in the company after selling 160,805 shares for about $29 million. Thiel sold roughly... […]

  • P&G is challenging Peltz’s win in vote recount
    by Carleton English on November 22, 2017 at 4:01 pm

    Nelson Peltz won’t be joining Procter and Gamble’s board any time soon. Just one week after a preliminary count by an independent auditor showed that the billionaire activist investor behind Trian Partners won a board seat by a razor-thin margin, the consumer packaged goods giant reiterated that it wanted to wait for a final tally... […]

  • US commission recommends washing-machine tariffs to curb imports
    by Reuters on November 22, 2017 at 3:00 pm

    The US International Trade Commission on Tuesday recommended tariffs to keep Samsung and LG from flooding the US market with inexpensive washers, a step that would protect American appliance giant Whirlpool. The ITC said a graduated tariff rate should be placed on imports of large residential washing machines above a 1.2 million-unit threshold over the... […]

  • Meg Whitman’s surprise exit pounds Hewlett Packard’s stock
    by Reuters on November 22, 2017 at 2:49 pm

    Shares of Hewlett Packard Enterprise plunged more than 6 percent in early trading on Wednesday after Chief Executive Officer Meg Whitman’s decision to step down from the role took investors by surprise. Whitman, one the most high-profile executives in the United States, said on Tuesday she would quit as CEO in February and hand over... […]

  • Uber faces fresh heat after covering up data breach
    by Reuters on November 22, 2017 at 2:22 pm

    Struggling ride-hailing firm Uber faces a fresh regulatory crackdown after disclosing it paid hackers $100,000 to keep secret a massive breach last year that exposed personal data from around 57 million accounts. Discovery of Uber’s cover-up of the incident resulted in the firing of two employees responsible for its response to the hack, said Dara... […]

  • AT&T’s merger problem is sparking worries in Silicon Valley
    by Richard Morgan, Josh Kosman on November 22, 2017 at 3:03 am

    Fears are growing that the Justice Department’s suit to block AT&T’s proposed takeover of Time Warner could upend business-as-usual in an unexpected place — Silicon Valley. AT&T CEO Randall Stephenson has repeatedly stressed that his company’s objective in gobbling up Time Warner and its DirecTV subsidiary is to build an advertising platform that can compete... […]

  • Kim Kardashian continues staff shuffle, hires new branding guru
    by Oli Coleman on November 22, 2017 at 2:28 am

    We're told Kardashian brought in Tracy Nguyen Romulus to help run KKW Beauty, KKW Fragrance, Kimoji, the Kids Supply and other lines. &nbs […]

  • Under Armour fires footwear exec as Steph Curry shoes stumble
    by Lisa Fickenscher on November 22, 2017 at 12:30 am

    The epic sneaker battle between NBA stars Stephen Curry and Kevin Durant has claimed another casualty. Under Armour — whose Curry 4 basketball shoes have been dogged by manufacturing delays, even as they have gotten slammed by poor reviews — said Peter Ruppe, who had headed its footwear business for nearly three years, has left... […]

  • All three major stock indexes just hit all-time highs
    by Kevin Dugan on November 21, 2017 at 11:33 pm

    Don’t look down. Wall Street’s three major stock indexes hit fresh all-time highs on Tuesday, buoyed by surprisingly strong housing sales and rosy predictions for the year ahead. The Dow Jones industrial average rose 160.5 points to 23,590.83, leaving it up more than 19 percent since the start of the year. The S&P 500 Index,... […]

  • Hulu sued for not offering audio service for blind customers
    by Associated Press on November 21, 2017 at 11:12 pm

    BOSTON — Advocacy groups have sued Hulu in an effort to force the subscription streaming service to provide an audio track that helps people who are blind or visually impaired enjoy TV shows and movies. The federal lawsuit filed in Boston on Monday asks the court to declare that Hulu’s failure to provide services for... […]