New York Posts – Business

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  • Goldman Sachs recommends GE suspend dividend
    by Kevin Dugan on June 23, 2018 at 3:31 am

    General Electric ended a bad week on an ugly note when Goldman Sachs recommended Friday that the Thomas Edison-founded company suspend its dividend for the first time in 119 years. The bank’s gloomy report came days after the Dow Jones announced it would boot GE from its iconic blue-chip index, where it was the last... […]

  • Kraft interested in buying Campbell Soup
    by Josh Kosman on June 23, 2018 at 2:49 am

    There could soon be a line forming in front of Campbell’s HQ. Campbell Soup, which last month said it was reviewing all aspects of its strategic plans and portfolio composition, will have at least one deep-pocketed suitor interested in kicking the tires should it decide to put itself on the block, The Post has learned.... […]

  • Amazon workers ask Bezos to stop selling tech to law enforcement
    by Nicolas Vega on June 23, 2018 at 2:32 am

    There was another social activism uprising in tech land this week — and this one got in Jeff Bezos’ face. An undisclosed number of Amazon employees penned an open letter to the e-commerce giant chief executive asking that the company stop selling facial recognition software to law enforcement agencies. The letter also asked Bezos to... […]

  • CNN staffer who resigned over retracted Russia story named interim head of
    by Keith J. Kelly on June 22, 2018 at 11:52 pm

    One of the three CNN staffers who resigned in June 2017 over a retracted story about alleged collusion between Russia and members of Donald Trump’s campaign staff has resurfaced at CBS News, according to an internal memo at CBS announcing six appointments. Lex Haris, the former head of CNN Investigates, an elite unit inside the... […]

  • Netflix fires PR chief over repeated use of the N-word
    by David K. Li on June 22, 2018 at 10:38 pm

    Netflix cut the cord with the company’s top spokesman on Friday over his repeated use of the N-word. Top flack Jonathan Friedland first dropped the racial epithet several months ago during a meeting with public relations staff, according to a company statement. But then remarkably, Friedland – who is white – uttered the N-word again... […]

  • This is the most American-made car
    by Marketwatch on June 22, 2018 at 6:36 pm

    Years of auto shareholders change — with parts manufacturing and vehicle assembly scattered around the world — leave it nearly impossible to think of cars simply as “American made” or “foreign made.” Still, some cars are more “American made” than others, and at the top of the list is the Jeep Cherokee, assembled in Belvidere,... […]

  • Sale price for Weinstein Co. cut by $23 million
    by Variety on June 22, 2018 at 6:26 pm

    The Weinstein Company has agreed to reduce its sale price to Lantern Capital by $23 million, as doubts have been raised about whether the deal can close. Paul Zumbro, the lead attorney for the company, announced in Delaware bankruptcy court Friday that the company had agreed to reduce the agreed price from $310 million to... […]

  • Tesla’s workforce cut will hit solar operation hard
    by Reuters on June 22, 2018 at 5:27 pm

    Electric car maker Tesla’s move last week to cut 9 percent of its workforce will sharply downsize the residential solar business it bought two years ago in a controversial $2.6 billion deal, according to three internal company documents and seven current and former Tesla solar employees. The latest cuts to the division that was once... […]

  • OPEC agrees to increase oil output to avoid deficit
    by Reuters on June 22, 2018 at 1:16 pm

    OPEC agreed on Friday on a modest increase in oil production from July after its leader Saudi Arabia persuaded arch-rival Iran to cooperate amid calls from major consumers to help reduce the price of crude and avoid a supply shortage. Two OPEC sources said the group agreed that OPEC and its allies led by Russia... […]

  • Pilgrim’s Pride bids on Hain Celestial’s protein business: source
    by Josh Kosman on June 22, 2018 at 2:29 am

    Pilgrim’s Pride is bidding for Hain Celestial’s protein business, a source close to the process told The Post. Hain, run by CEO Irwin Simon, is in the process of selling Hain Pure Protein, its chicken and turkey division, to make its remaining snack food company more attractive to a buyer, an informed source explained. Pilgrim’s... […]

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