New York Posts – Business

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  • Wells Fargo’s CEO pay package approved despite scandals
    by Kevin Dugan on April 24, 2018 at 7:51 pm

    Wells Fargo boss Tim Sloan finally found a friendly audience — and all he had to do was fly to Des Moines. The San Francisco-based bank handily defeated shareholder pressure to limit its CEO’s pay, knock off a board member, and study its employee incentives at its annual meeting in Des Moines, Iowa, on Tuesday... […]

  • SEC slaps Altbaba with $35 million fine over Yahoo breach
    by Reuters on April 24, 2018 at 6:49 pm

    US regulators fined Altaba, the company formerly known as Yahoo, $35 million on Tuesday to settle charges that kept its massive 2014 cyber security breach a secret from investors for more than two years. The Securities and Exchange Commission’s case marks the first time it has gone after a company for failing to disclose a... […]

  • Steve Cohen is backing a ‘virtual credit card’ app
    by Carleton English on April 24, 2018 at 6:40 pm

    Billionaire hedge funder Steve Cohen wants to make life easier for cash-strapped freelancers. Point72 Ventures, the venture capital arm of Cohen’s Point72 Asset Management, led a $3 million financing round for Extend, a mobile app that lets businesses share temporary access to their corporate credit cards with freelancers. The idea is to sidestep “the challenges... […]

  • Uber’s China-based rival is reportedly in IPO talks
    by Reuters on April 24, 2018 at 3:22 pm

    Chinese ride-hailing company Didi Chuxing is in talks for a multi-billion-dollar initial public offering that could take place as early as this year, The Wall Street Journal reported on Tuesday, citing people familiar with the matter. The company is hoping to fetch a valuation of at least $70 billion to $80 billion if it goes... […]

  • Global wine production plunges to a 60-year low
    by Reuters on April 24, 2018 at 3:05 pm

    Global wine output fell to its lowest level in 60 years in 2017 due to poor weather conditions in the European Union that slashed production in the bloc, an international wine organization said. Wine production totaled 250 million hectoliters last year, down 8.6 percent from 2016, data from the Paris-based International Organisation of Vine and... […]

  • Music streaming is now the industry’s biggest revenue source
    by Reuters on April 24, 2018 at 2:26 pm

    Online streaming services such as Spotify and Apple Music have become the music industry’s single biggest revenue source, overtaking physical sales and digital downloads for the first time, a global industry body said Tuesday. The rapid growth in streaming music services in recent years has led to a recovery in the fortunes of the global... […]

  • Coca-Cola sales surge after Diet Coke reboot
    by Reuters on April 24, 2018 at 2:21 pm

    Coca-Cola beat Wall Street estimates with quarterly results on Tuesday, citing more demand for Coke Zero Sugar and new flavors under its Diet Coke brand as overall revenue topped expectations by around $300 million. Net profit also beat consensus forecasts by 1 cent per share, the drink maker said, and its shares rose about 1... […]

  • Harley-Davidson beats forecast despite slack demand from millennials
    by Reuters on April 24, 2018 at 2:08 pm

    Harley-Davidson stood by its full-year motorcycle shipments forecast and beat quarterly profit estimates on Tuesday, offering a glimmer of hope to a business struggling with an aging customer base. The company’s shares rose 6 percent in premarket trading on Tuesday. The stock has fallen nearly 20 percent this year. Harley, which commands about half of... […]

  • United Airlines CEO didn’t get a bonus last year
    by Associated Press on April 24, 2018 at 1:48 pm

    United Airlines CEO Oscar Munoz, who was criticized for his initial response to a passenger being violently dragged off a plane, says he gave up his 2017 bonus. Munoz’s compensation, mostly in stock awards, fell to $9.6 million in 2017 from $18.7 million the year before. United Continental Holdings detailed it in a securities filing... […]

  • During a recession, these workers actually see an increase in salary
    by Marketwatch on April 24, 2018 at 5:02 am

    Want a raise the next time a recession happens? Get a job with Uncle Sam. People who take a job with the government during a recession tend to see more long-term wage growth compared to those who take a job with the government when the economy is expanding, according to a paper by Duke University... […]

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