New York Posts – Business

  • Mark Zuckerberg finally breaks silence amid privacy scandal
    by Reuters on March 21, 2018 at 7:56 pm

    SAN FRANCISCO — Facebook Inc. chief executive Mark Zuckerberg said Wednesday that the social media company made mistakes that allowed data about users to end up with the analytics firm Cambridge Analytica and that the company would make changes. Zuckerberg, in his first comments since the company disclosed on Friday the misuse of personal data,... […]

  • New Fed chairman isn’t too worried about inflation
    by Kevin Dugan on March 21, 2018 at 6:04 pm

    Jay Powell goosed the stock market in his first major move as the new chairman of the Federal Reserve on Wednesday, raising interest rates as expected but signaling that the economy isn’t at risk of overheating. The Federal Open Markets Committee voted to hike its benchmark interest rate by a quarter of a point, to... […]

  • Tesla shareholders just handed Elon Musk an eye-popping pay package
    by Nicolas Vega on March 21, 2018 at 5:58 pm

    Tesla shareholders agreed to hand over billions of dollars in stock awards to Elon Musk if the tech tycoon manages to popularize his electric cars over the next decade. Tesla’s hard-charging chief executive could take home as much as $55.8 billion in stock over the next 10 years — or nothing, according to a controversial... […]

  • Blockchain for bitcoin is infected with child porn
    by Carleton English on March 21, 2018 at 4:43 pm

    If you’re mining bitcoin, you’ve got child porn sitting on your hard drive. According to a recent bombshell report, the underlying blockchain ledger that’s used to record bitcoin transactions — a massive online database that grows each time a bitcoin changes hands — contains files that are tainted with hundreds of links to child pornography... […]

  • Zuckerberg to end silence on user data scandal
    by Nicolas Vega on March 21, 2018 at 3:28 pm

    The clock is ticking for Mark Zuckerberg to come out of hiding. The 33-year-old Facebook honcho — who has been conspicuously silent amid explosive reports that his company has systematically mishandled its user data — plans to address the scandals “in the next 24 hours,” Axios reported early Wednesday. The embattled tech mogul has been... […]

  • Cox Communications exec expected to be the first witness in AT&T trial
    by Josh Kosman on March 21, 2018 at 3:45 am

    Suzanne Fenwick, an executive with Cox Communications’ content acquisition team, is expected to be the first witness when the government’s lawsuit to block AT&T’s proposed $85 billion acquisition of Time Warner heads to trial on Thursday, The Post has learned. Atlanta-based Cox has consistently made it clear that it has concerns about the telecom giant’s... […]

  • Nordstrom family fails again in bid to take company private
    by Josh Kosman, Lisa Fickenscher on March 21, 2018 at 3:02 am

    The Nordstrom founding family has now failed twice to take the company private. Nordstrom on Tuesday said that the special committee of its board has terminated discussions with members of the Nordstrom family — who include company co-Presidents Blake Nordstrom, Peter Nordstrom, and Erik Nordstrom; President of Stores James Nordstrom; Chairman Emeritus Bruce Nordstrom;, and... […]

  • Zuckerberg and Sandberg silent amid Facebook scandal
    by Nicolas Vega on March 21, 2018 at 2:31 am

    Regulators have launched a probe into Facebook’s alleged misuse of private user data and investors continued to pummel the company’s shares — but Chief Executive Mark Zuckerberg remained quiet and out of public view on Tuesday. The same is true for Chief Operating Officer Sheryl Sandberg — who’s done anything but “lean in” lately. At... […]

  • Toymaker says Toys ‘R’ Us was misleading about bankruptcy
    by Lisa Fickenscher on March 21, 2018 at 2:12 am

    A Florida toymaker lashed out at Toys “R” Us management on Tuesday, saying the retailer’s executives misled it about getting paid just to keep inventory levels high. “It was certainly ethical fraud and disgusting and despicable,” Jay Foreman, chief executive of Basic Fun, whose Uncle Milton Moon in My Room was sold at the chain... […]

  • Former Newell director may bid for the company’s brands
    by Carleton English, Josh Kosman on March 20, 2018 at 9:29 pm

    A former director at Newell Brands said Tuesday he may bid to acquire some of the manufacturer’s assets, including Yankee Candle, Mr. Coffee and Crock-Pot. Financier Martin Franklin — who sat on Newell’s board until January — confirmed his interest in the brands on Tuesday, a day after billionaire Carl Icahn struck a deal with... […]