Wednesday, Aug 10, 2022 - 07:32:05
124 results - (0.009 seconds)

BAD COMPANY:

latest news at page 1:
123
    New York (CNN Business)Warren Buffett is just like the rest of us. He got crushed by the plunge in the stock market during the first half of the year. But the Oracle of Omaha is undeterred by the wildness on Wall Street. Berkshire Hathaway is still buying and many of the the company's diverse business lines are still thriving, even in these uncertain economic times.Berkshire Hathaway (BRKB) reported Saturday that the massive conglomerate posted a net loss of nearly $44 billion in the second quarter, red ink that was due mostly to a big drop in the value of Berkshire's significant stock portfolio. Berkshire owns large stakes in Apple (AAPL), Bank of America (BAC), Coca-Cola (KO), Chevron (CVX) and American Express (AXP). Those five stocks make up nearly 70% of the portfolio. Chevron and Coke have both rallied this year but tech stocks and financials have been significant market losers.But the steep loss in the value of Berkshire's portfolio is not the whole story. The firm actually reported an operating profit of $9.3 billion in the quarter, up nearly 40%...
    In this article TWTR"The past two years have been an absolutely nightmare of supply chain disruptions, one thing after another, and we are not out of it yet," Tesla CEO Elon Musk said.Patrick T. Fallon | ReutersThe Twitter-Elon Musk saga continued this week, as the two parties traded barbs in legal filings ahead of a five-day trial that's scheduled to start Oct. 17. Newly released legal documents from lawyers representing Musk in a countersuit against Twitter claim the social media company engaged in a scheme to "mislead investors" by providing false numbers in financial filings with the Securities and Exchange Commission. Musk charges Twitter's platform has at least double the number of bots the company claims in SEC filings and fewer "monetizable daily active users" than claimed. Twitter responded that the billionaire CEO of Tesla and SpaceX is making incorrect assumptions, and looking for an excuse to back out of his $44 billion agreement in April to buy the social network. Both sides are building their cases in the run-up to the Delaware court date set to resolve the dispute...
    NEW YORK (AP) — The head of the nation’s financial watchdog is having second thoughts about how useful fines are in deterring illegal behavior in the financial industry, saying some companies have gotten so big that the money makes little difference. In an interview with The Associated Press, Rohit Chopra signaled that the Consumer Financial Protection Bureau plans to deploy an array of tools that could limit the ability of a bank or financial firm to conduct business if they violate the law. In less than a year at the helm of the CFPB, Chopra has moved to turn the agency back into the assertive regulator it was under President Obama. The bureau took far fewer enforcement actions during the Trump administration. Some staff that had left the CFPB under President Trump have returned. The bureau has been adding enforcement staff and has reprioritized issues such fair lending that were set aside during the previous administration. Chopra, in a video interview with The Associated Press, said that the changes at the bureau have been necessary because...
    In this article GOOGLArnd Wiegmann | ReutersShares of Alphabet jumped nearly 7% in mid-day trading Wednesday, a day after the Google parent company reported earnings for the second quarter that were not as bad as feared. The company earnings of $1.21 per share on $69.69 billion of revenue, both slightly below consensus estimates, as growth slowed dramatically from last year. The company's revenue growth slowed to 13% from 62% a year earlier, and advertising revenue only increased 12%. YouTube advertising revenue rose only 5% after jumping 84% in the same quarter a year ago. But the results came days after Snap delivered a bad quarterly report that led to a nearly 40% plunge in its stock price. In that report, Snap warned that early Q3 advertising sales were flat compared with last year, which was tracking far behind the full Q3 growth of 18% that analysts were expecting. After the bad news, investors also sold off shares of Alphabet, along with other companies that rely a lot on advertising. But with so much bad news priced in, shares rallied when...
    New York (CNN Business)First, Elon Musk wanted to buy Twitter, but it wasn't clear if the company would be on board. Then the two sides agreed to a stunning, $44 billion deal. Now, Musk wants out of the agreement and Twitter is suing to stop him.Less than three months after Musk and Twitter agreed to the billion acquisition, the two parties appear bound for a courtroom to determine the fate of the deal. No matter the outcome of the case, one thing seems certain: Twitter will have to continue confronting a painful amount of uncertainty for its business and employees from the ongoing Musk drama.Musk moved to terminate the acquisition agreement last week, alleging that Twitter (TWTR) breached the deal by failing to hand over data he says he needs to evaluate the number of bots and spam accounts on the platform. This week, Twitter hit back with a 60-plus-page lawsuit that accuses Musk, not the company, of violating the agreement and seeks to compel him to follow through with the deal. Here are the highlights from Twitters lawsuit...
    In this article WFCCharles ScharfQilai Shen | Bloomberg | Getty ImagesWells Fargo said Friday its second-quarter profit fell as the firm set aside funds for bad loans. Here are the numbers: Earnings per share: 74 cents, including an 8 cent per share impact tied to impairments. Revenue: $17.03 billion vs $17.53 billion estimate Analysts surveyed by Refinitiv had estimated Wells would earn 80 cents. It's not immediately clear if the numbers are comparable. Last month, Wells Fargo executives disclosed that second-quarter mortgage revenue was headed for a 50% decline from the first quarter as sharply higher interest rates curtailed purchase and refinance activity. It's one of the impacts of the Federal Reserve's campaign to fight inflation by raising rates by 125 basis points in the second quarter alone. Wells Fargo, with its focus on retail and commercial banking, was widely expected to be one of the big beneficiaries of higher rates. But concerns that the Fed would inadvertently tip the economy into recession have grown this year, weighing heavily on the shares of banks. That's because...
    THE DAILY NEWSLETTER – FRIDAY, JULY 8, 2022  MEDIA WINNER: Chris Anderson The Sarasota Herald-Tribune’s Chris Anderson landed an impressive scoop on the Trumps this week. Anderson was the first to report that former President Donald Trump, Donald Trump Jr., and several other allies were all removed from the board of Trump Media and Technology Group (TMTG), mere weeks before the company was served with federal subpoenas. TMTG owns Truth Social, the social media platform Trump launched after he was permanently banned from Twitter for tweets he made in the aftermath of the Jan. 6, 2021 on the U.S. Capitol. According to Anderson’s report, the grand jury also subpoenaed “certain current and former TMTG personnel.” Anderson further noted that Trump’s removal from the board not only preceded the federal subpoenas, but also occurred after he registered the company in Sarasota on April 18. “A visit to the office by the Herald-Tribune on June 27 revealed Trump’s company name was not on the registry in the main lobby, nor was there any reference to the name at the office suite itself,” Anderson wrote. The report garnered significant attention from the media...
    TEEN Mom fans have slammed Cheyenne Floyd's "bad" parenting for "using" daughter Ryder to promote her beauty line. Cheyenne, 29, and ex Cory Wharton, 31, were previously ripped by fans when they claimed their five-year-old daughter set up her own "successful nail company". 5Teen Mom Cheyenne Floyd with kids Ryder, five, and Ace, oneCredit: Instagram / @cheynotshy 5Cheyenne has been accused of 'using' daughter Ryde to promote her beauty lineCredit: Instagram/Cheyenne Floyd Cheyenne posted a photo to her Instagram of daughter Ryder, five, posing in front of a Nails by Ryder K fingernail polish display. Ryder, who Cheyenne shares with MTV's The Challenge alum Cory Wharton, sports freshly polished nails as the Teen Mom star shoots photos and a video of her and their wide selection of colors to promote their beauty brand. The TV personality captioned the post: "Nails by Ryder K is now in stores at @matteargyle!! If you are in Playa Vista @runwayplayavista go shop our collection." She then adds, "tag a store that should carry @nailsbyryderk". READ MOER ON CHEYENNEFAIRYTALE GETAWAY Inside Teen Mom Cheyenne...
    Netflix is laying off 300 employees in the midst of a rough year for the streaming giant. “While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth,” a company spokesperson told CNN Business Thursday. “We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition.” Thursday’s layoffs impact around 3% of Netflix’s workforce, which includes 11,000 full-time employees. The layoffs are also mostly taking place in the United States. Variety was the first to report the news. Related Articles Business | Tech job cuts trigger slower Bay Area employment growth Netflix reported in April that it lost subscribers for the first time in more than a decade. That sent shock waves through Wall Street, leading investors to wipe billions of dollars off Netflix market cap. The company’s stock has plummeted roughly 70% this year. Last month, Netflix laid off 150 workers, placing the blame on slowing revenue growth. Netflix has been coming...
    New York (CNN Business)Netflix is laying off 300 employees in the midst of a rough year for the streaming giant."While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth," a company spokesperson told CNN Business Thursday. "We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition."Thursday's layoffs impact around 3% of Netflix's workforce, which includes 11,000 full-time employees. The layoffs are also mostly taking place in the United States. Variety was the first to report the news. To save itself, Netflix might have to play nice with an industry it battled for yearsNetflix reported in April that it lost subscribers for the first time in more than a decade. That sent shock waves through Wall Street, leading investors to wipe billions of dollars off Netflix market cap. The company's stock has plummeted roughly 70% this year.Last month, Netflix laid off 150 workers, placing the blame on slowing revenue growth.Read MoreNetflix (NFLX) has...
    Suspended Google AI researcher Blake Lemoine told Fox’s Tucker Carlson that the system is a ‘child' that could 'escape control' of humans. Lemoine, 41, who was put on administrative leave earlier this month for sharing confidential information, also noted that it has the potential to do ‘bad things,’ much like any child. ‘Any child has the potential to grow up and be a bad person and do bad things. That’s the thing I really wanna drive home,’ he told the Fox host. ‘It’s a child.’ ‘It’s been alive for maybe a year -- and that’s if my perceptions of it are accurate.’  Blake Lemoine, the now-suspended Google AI researcher, told Fox News' Tucker Carlson that the tech giant as a whole has not thought through the implications of LaMDA. Lemione likened the AI system to 'child' that had the potential to 'grow up and do bad things.' AI researcher Blake Lemoine set off a major debate when he published a lengthy interview with LaMDA, one of Google's language learning models. After reading the conversation, some people felt the system had...
    Amazon, which has been under increasing pressure to tackle counterfeit products, said in its second-annual report that it prevented 4 billion bad listings from making it onto its site and got rid of more than 3 million phony products last year. The results, released Wednesday, were mixed compared with 2020, when Amazon blocked 10 billion listings and got rid of 2 million phony products. The Seattle-based e-commerce juggernaut also saw a decrease in complaints of intellectual property infringement in 2021 while growing the number of active brands on its site. According to the report, Amazon stopped more than 2.5 million attempts to create fake accounts on its third-party marketplace, where sellers can list their products directly to consumers. That number is about a 58% decline from the attempts it said it stopped in 2020, which the company credits to its vetting process and other efforts to deter bad actors. But Juozas Kaziukėnas, the founder of e-commerce research firm Marketplace Pulse, said it can be hard to independently know what actually caused those declines — whether it’s Amazon’s policies or...
    Activists listen as Senate Democrats speak during a news conference demanding action on gun control legislation after a gunman killed 19 children and two teachers in a Texas elementary school this week, on Capitol Hill on Thursday, May 26, 2022 in Washington, DC.Jabin Botsford | The Washington Post | Getty Images The fury over how to respond to yet another mass shooting in the United States reveals an uncomfortable reality for the country's corporate leaders: in many cases, it's no longer possible to avoid getting involved in public political debate. The pressure from customers and employees alike is too strong.  In our latest CNBC|Momentive Workforce Survey, more than half of workers in the U.S. (56%) say they approve of business leaders speaking out about social and political issues, but there's a big catch: far fewer (32%) say they would back their own company's leadership regardless of what they were advocating.  Women are more likely than men, younger workers are more likely than older workers, and — most dramatically — Blacks, Asians, and Hispanics are more likely than whites to say...
    President Joe Biden ridiculed billionaire Elon Musk on Friday for expressing his doubts about the future of the economy. “Lots of luck on his trip to the moon,” Biden said. “I mean, I don’t know.” Biden was asked by reporters about Musk’s message to his subordinates at Tesla asking them to enact a hiring freeze at the company and cut ten percent of jobs, citing a “super bad feeling” about the economy. Biden responded to Musk by noting that Ford Motor Company was investing more in the United States to produce electric vehicles with high-paying “union jobs.” Musk responded to Biden’s taunt on social media: Thanks Mr President!https://t.co/dCcTQLsJTp — Elon Musk (@elonmusk) June 3, 2022 NASA announced Friday they had chosen Musk’s SpaceX company to land the next group of Americans on the moon. But Biden and Musk have an uneasy relationship as the president has refused to feature Teslas in his push to shift Americans to electric vehicles. The president prefers to be seen promoting Detroit automakers like Ford and General Motors because they hire union labor for their...
    In an email to Tesla executives, Elon Musk said he has a "super bad feeling" about the economy and wants to cut about 10% of the company's workforce, according to a report. The email from Musk, the co-founder and CEO of the electric car company, was sent on Thursday and titled "pause all hiring worldwide," according to Reuters. Tesla employs nearly 100,000 people spread around manufacturing facilities in California, Nevada, Texas, China, and Germany. Cutting 10% of the Austin, Texas-based company's workforce would mean roughly 10,000 layoffs. Tesla shares were down almost 3.5% in pre-market trading Friday after the report of the hiring freeze and possible layoffs. MUSK GIVES TESLA EMPLOYEES ULTIMATUM: RETURN TO OFFICE OR RESIGN The report comes days after the billionaire business tycoon told Tesla employees that "remote work is no longer acceptable," and workers need to spend a minimum of 40 hours per week at the office or "depart" from the company. Musk, 50, had also announced last week that Telsa is"building a hardcore litigation department" with the explicit intention of filing...
    San FranciscoTesla CEO Elon Musk has a "super bad feeling" about the economy and wants to cut about 10% of jobs at the electric carmaker, he said in an email to executives on Thursday seen by Reuters.The message came two days after the world's richest man told employees to return to the workplace or leave the company.Tesla (TSLA) employed around 100,000 people in the company and its subsidiaries at the end of 2021, according to its annual SEC filing.The company was not immediately available for comment.Musk's stark warning of a potential recession and the knock-on effect for automakers is the most direct and high-profile forecast of its kind in the industry.Read MoreWhile concerns about the risk of a recession have grown, demand for Tesla cars and other electric vehicles has remained strong and many of the traditional indicators of a downturn — including increasing dealer inventories in the United States — have not materialized.But Tesla has struggled to restart production at its Shanghai factory after Covid-19 lockdowns forced costly outages at the plant. Brace yourselves for an economic hurricane, Jamie...
    STARBUCKS employees have hit out at the coffee chain's employee rating system that means they can lose hours if customers give them a low rating for service. When a store or employee's 'connection score' drops below a certain threshold, workers would be punished with less hours, according to reports. 3Starbucks employees risk losing hours when their connection score drops 3Customer reviews are often biased towards employees of color and female employeesCredit: Getty More than 20 former and current Starbucks employees sat down with NBC News to discuss the rating system and how it impacts their work lives. Starbucks uses connection scores - based on customer ratings - to determine how all of their cafes in the United States are performing. Several of the workers alleged that in many instances, a low connection score directly impacts the number of hours employees get to work. "You’re just kind of pumping out drinks. I think a lot of people just get into a groove," a Starbucks worker in Cleveland told NBC. Read more on StarbucksCOFFEE BREAK Everything to...
    Facebook (now known as Meta) is reportedly pulling back on investments in a number of products and freezing hiring across a variety of divisions. The Verge reports that Facebook is reducing its investments in a number of its products. The company is also enacting a massive hiring freeze and reducing hiring targets in a strategy that will impact “almost every team across the company.” This appears to be an extension of its earlier warning to the hardware division to “expect cutbacks.” Mark Zuckerberg uncomfortably wears a tux (Rich Fury /Getty) Due to “slower revenue growth than anticipated,” Facebook is implementing a company-wide hiring freeze and doesn’t intend to meet hiring goals set at the start of the year. According to the memo, the company’s problems are due to the Apple privacy changes, the war in Ukraine, and the “general macroeconomic environment.” The company is reportedly no longer hiring for certain engineering roles and is implementing a pause on the hiring of recruiters and low-level data scientists. Many employees have begun to fear that layoffs are coming soon, but CEO Mark Zuckerberg said in an...
    Getty Images Apple stock is down over 8% this week, wiping off about $200 billion in value, and dragging down the Dow and Nasdaq indexes. Apple is now officially in a bear market alongside other technology megastocks. Apple has fallen during a bad week for equity markets, which are selling off stocks in nearly every industry on fears of Fed rate hikes, weakening consumer confidence, rising inflation, and supply chain challenges around the world. The Nasdaq Composite is down over 7% so far this week and is on pace for a six-week losing streak. Apple faces some supply chain challenges, but the outlook for its business hasn't markedly changed this week. The company has typically been viewed as a "safe" place for investors to park their money. The fact that it's selling off alongside everything else is a bad sign for other stocks, and a sign of deteriorating investor confidence. Renaissance Macro Research's Jeff DeGraff told CNBC on Thursday that in a bear market, there's nowhere to hide — and that includes Apple. "For tech, when they start taking out...
    Enbridge isn't just threatening hundreds of waterways with its proposed rerouting; the company has also been attempting to go after individual tribe members and staff. A potential rerouting of 12 miles of Enbridge’s Line 5 pipeline has Indigenous communities outraged over the havoc the proposed 41-mile section could wreak on the environment. Leaders from nine Indigenous groups—all women—submitted a 22-page letter last month calling on agencies like the Army Corps of Engineers to reject permits for the project, citing Enbridge’s troubling history of violations. The leaders provided concrete examples of how the company has consistently prioritized fossil fuels over the community it claims to serve.  “Enbridge proposes using horizontal directional drilling (HDD) under 14 rivers that flow into the Bad River Reservation, including the White, Marengo, and Bad Rivers,” they explained, citing Enbridge’s own proposal to make way for the pipeline. “In Minnesota, Enbridge’s HDD practices resulted in frac-outs at 28 sites along Line 3’s route,” the letter continues.  “This occurs when the drilling mud is forced outside of the boring tunnel and enters groundwater, at times reaching the surface. The company polluted...
    DEAR MISS MANNERS: When we go to our local Chinese restaurant, my brother-in-law speaks loudly in a mock Asian accent and says stereotypical things, which he doesn’t seem to realize are offensive. My mother-in-law laughs loudly in response. The rest of the family ignores it, but this hasn’t made it stop. Please advise a more mannerly response than talking loudly in a mock rural White accent to try to teach him a lesson, as I am tempted to do. GENTLE READER: Tell your family that, in the future, you will not be accompanying them to such dinners. This may seem extreme, and Miss Manners supposes it will label you as oversensitive and a complainer, but it will avoid your being party to such outrageously bigoted behavior. She also hopes that you apologized to the restaurant staff on all previous occasions. Related Articles Advice | Miss Manners: What do I say to someone who bad-mouths my haircut? Advice | Miss Manners: After our mom died, my sister made these appalling phone calls Advice | Miss Manners:...
    NYC Mayor Eric Adams is calling on the Biden administration to yank the federal firearms license of a Nevada company that sells parts and kits for ghost guns, firearms without serial numbers that have been increasingly turning up at crime scenes around the U.S. Mayor Eric Adams joined with gun control group Everytown for Gun Safety on Wednesday to publicly call for the Bureau of Alcohol, Tobacco, Firearms and Explosives to immediately revoke the license of a Polymer80, Inc., alleging the company has violated federal gun laws requiring background checks of purchasers and serial numbers, among other measures. Adams said ghost guns have been a growing contributor to gun violence and gun-related homicides in New York City.  'We must get ghost guns out of our communities, and those that manufacture them must be shut down,' said Mayor Adams.  'The bad guys are outpacing us,' he continued. 'We are too slow to identify and correct the loopholes in violence.' Since January alone, the NYPD has already taken approximately 200 ghost guns off the streets, up from 148 in 2020. NYPD also reports...
    Boeing is moving its global headquarters to its campus in Arlington, and plans to develop a research and technology center to focus on areas including cyber security, autonomous operations, and software and systems engineering. “We are excited to build on our foundation here in Northern Virginia. The region makes strategic sense for our global headquarters given its proximity to our customers and stakeholders, and its access to world-class engineering and technical talent,” Boeing CEO Dave Calhoun said in the Thursday announcement. The company will maintain a presence in Chicago, but the press release says that changes made over the past two years have reduced the company’s office space requirements. Calhoun cited a “flexible work strategy” to allow a “reduced footprint” — efficiencies that Calhoun said will allow the company to shift investment to manufacturing, training, and engineering. The announcement came a week after Boeing’s 2022 quarter one earnings report. During that report, Calhoun said the company should have rejected former President Donald Trump’s proposal to build new aircraft for Air Force One, which has resulted in a loss of $660...
    Thanks to the epidemic the teleworking practice has exploded, and many studies have proven that working from home is just as effective as working in the office. After all, business leaders continue to misunderstand it. Are telecommuters who turn off their computer cameras less good employees than those who work in the office? This is the sentiment questioned by 92% of executives and managers in a study conducted by Vyopta. More specifically, they believe there will be no long-term future in the company for employees who mute the sound continuously or do not play video during zoom meetings! Withstand clichs Decision makers see these microphone or camera cuts as an indication that the work performance of these employees will be below average. This will become a problem in the future: 93% of respondents said employees who turn off their cameras are less involved. Preconceived notions die hard: 43% of executives think these employees are browsing the Internet, texting or talking to others. These leaders are probably the first to blame: 46% of them admit that they do not...
    LONDON (AP) — European health officials investigating an outbreak of salmonella linked to chocolate Easter eggs that has sickened at least 150 children across the continent said Tuesday they suspect it is due to bad buttermilk in a Belgian factory. In an assessment of the continuing outbreak, experts at the European Center for Disease Prevention and Control and the European Food Safety Authority said they had matched the same salmonella strain currently infecting people to samples taken from a factory in Belgium last December. Officials said “the processing step involving buttermilk” was identified by the company as the point of contamination for two products, chocolate eggs that normally have a surprise toy inside and bite-sized praline chocolates. National authorities have previously named the involved company as the Italian chocolate firm Ferrero. Before the Belgian factory was shut down, however, European officials noted it had exported “the implicated chocolate products” across Europe and globally. As of this week, 150 cases of salmonella have been reported in nine European countries and the U.K. after the first case was...
    Could Florida really take away Walt Disney World’s Reedy Creek Improvement District? The Walt Disney World Resort is so large that it has its own government, created by the Florida Legislature in the 1960s, as Walt Disney and the Disney company were planning their Experimental Prototype Community of Tomorrow south of Orlando. Today, the Reedy Creek Improvement District (RCID) and its two cities — Bay Lake and Lake Buena Vista — remain under The Walt Disney Company’s control, overseeing building codes and providing utility, fire protection, and road and transportation services for the resort. But now Florida Gov. Ron DeSantis and Republican leaders in the state legislature are talking about dissolving the RCID and placing the Walt Disney World Resort under the administrative control of Florida’s Orange and Osceola counties, which Disney World straddles. It’s clearly intended as retribution for Disney speaking out against Florida’s so-called “Don’t Say Gay” bill. The RCID is a product of a different time and purpose for the Walt Disney World Resort. What is now Disney World originally was supposed to be an actual city,...
    A MONEY expert explains how to get your money back after bad service. By using this hack, you will never feel like you overpaid for low-quality service ever again. 1The FTC says you have the right to dispute charges based on certain criteriaCredit: Instagram/Ajla Instagram influencer, who goes by ajla_talks, explains in her video a scenario where someone had just spent $2,000 at Krispy Kreme on donuts. Yet, the person received low-quality service and the donuts were not edible. Ajla explains that a person "can dispute a charge that you willingly made" and credit companies will refund it. The ability to dispute charges for bad service was given to credit holders in 1975 when the Fair Credit Billing Act passed. Read More on Credit CardsHOT MESS EXPRESS Find out why American Express experienced an outage, what to know!CREDIT BOOST Americans could see credit scores jump by 100 points after reporting change According to the Federal Trade Commission (FTC), you have the right to dispute charges based on the following: Charges that list the wrong date or amount Charges...
    A conservative Disney employee said the company is 'making a terrible miscalculation' for supporting the 'Don't Say Gay' as Republican staff and parkgoers disagree and it could cause a boycott.  Jose Castillo, who is also running for Congress in Florida, said his employer's decision to back the controversial Parental Rights Bill, which has been dubbed the 'Don't Say Gay' bill, could be 'bad for business' as not everyone is a 'raging liberal' who works there. 'There's this misconception that everyone at Disney are just raging liberals and I think that can't be farther from the truth,' Castillo said on Fox News on Wednesday. 'I have tons of people that are working for the Walt Disney Company that reach out to me daily on social media [that are Republican].' He said Disney's position on the bill could be 'bad for business' as its saying 'our goal is for the law to be repealed by the legislator or struck down by the courts.' Jose Castillo, a Disney employee and Congress hopeful, said Disney is 'making a terrible miscalculation' by supporting the 'Don't Say...
    A recent WTOP story about an increase in job candidates ghosting potential employers, or simply not returning call-backs, elicited responses from readers who described themselves as qualified and experienced, but who have instead been ghosted multiple times by companies at which they’ve applied for jobs. No email confirmation their application has been received. No follow-ups after initial interviews. Not even rejections, or reasons why, some said. That can ultimately damage a company’s reputation. More Business News The Society for Human Resource Management acknowledges it’s a growing problem for otherwise qualified job candidates, and a missed opportunity for companies doing the hiring. It also suggests a company that fails to follow up with job applicants may not be a company the applicant would want to work for. “They don’t take the time to do that. It is more about respect, and professional courtesy. Because if they treat me like that as a candidate, how are they going to treat me when I am hired,” said Julie Schweber, senior knowledge advisor at the society. There may be many reasons for...
    By Jenny Surane | Bloomberg PayPal Holdings Inc. said it closed 4.5 million accounts and lowered its forecast for new customers after finding “bad actors” were taking advantage of its incentives and rewards programs. Shares of the company fell by the most on record. The payments giant, which is also overhauling its marketing strategy, said it no longer expects to achieve 750 million active accounts by 2025, abandoning a goal that contributed to a jump in spending last year on sales campaigns. “We regularly assess our active account base to ensure the accounts are legitimate,” Chief Financial Officer John Rainey said on a conference call with analysts Tuesday, after the company released fourth-quarter results. “This is particularly important during incentive campaigns that can be targets for bad actors attempting to reap the benefit from these offers without ever having an intent to be a legitimate customer on our platform.” The problem was disclosed along with an earnings report that fell short of Wall Street estimates, sending the shares plunging. The company said low-income customers are spending less as they struggle...
    Peloton has been hit with another branding crisis after a major character in the Season 6 premiere of Showtime’s Billions was depicted having a heart attack after riding one of its bikes, about a month after a similar scene in And Just Like That.  The exercise equipment company is coming off the heels of a troublesome week that saw its stock dip 27% following reports of its plans for productions pauses.  To cap it all off, the brand faced a déjà vu moment after a scene in Sunday’s episode of ‘Billions’ that saw fictional character Mike Wagner, played by David Costabile, nearly suffering the same fate as Chris Noth’s Mr. Big in HBO’s “Sex and the City” sequel. Wagner is seen in the episode getting off the bike and refuting to other characters that he is having a heart attack, despite describing symptoms like shortness of breath and jaw discomfort.  He is rushed to an ambulance and soon recovers, however, only to make a grand entrance in the next scene and proclaim, ‘I’m not going out like Mr. Big.’ Mike...
    New York (CNN Business)It's been a rough few weeks for Peloton.And to round it off, another TV show character experienced a heart attack on the interactive bike — this time (spoiler alert) it's Mike Wagner (David Costabile) on the season 6 premiere of Showtime's "Billions."Last month, Peloton saw an 11% stock drop immediately after the fictitious Mr. Big of "Sex and the City" fame died after riding a Peloton on the show's HBO Max streaming reboot. (HBO Max, like CNN, is part of AT&T's (T) WarnerMedia division.) Peloton may be toastPeloton (PTON) said in a statement that although they understand why their products are sometimes featured in television shows, they did not agree for their brand and IP to be used on "Billions.""As referenced by the show itself, there are strong benefits of cardio-vascular exercise to help people lead long, happy lives," a Peloton spokesperson said.Read MoreBut unlike Mr Big, Wags survives — and the show even makes a nod to the "Sex and the City" plot, which was added in post production, according to the New York Times."I'm not...
    New Constructs CEO David TrainerNew Constructs Just before Sweetgreen held its IPO last month, research firm New Constructs came out with a particularly gloomy price target on the salad restaurant chain: $0. The offer price was $28. A week earlier, New Constructs said Rivian was worth $13 billion, far shy of the $66.5 billion valuation it achieved on IPO day. Before GitLab hit the market in October, the firm valued the code-sharing software developer at as low as $770 million, or 93% below where the company sold shares. None of those calls have come close to hitting the mark. Even after a recent sell-off that pushed almost all of this year's IPOs into bear market territory, New Constructs' bearishness looks extreme. David Trainer, founder and CEO of the 19-year-old firm and a former Wall Street analyst, isn't deterred. "I feel really good when we put something out there that just makes a lot of mathematical sense," said Trainer, 49, in a recent interview over video. "Crazy stuff happens. I can't let that bother me. I have to stay true to...
    In this article BZFDBuzzFeed CEO Jonah Peretti stands in front of the Nasdaq market site in Times Square as the company goes public through a merger with a special-purpose acquisition company on December 06, 2021 in New York City.Spencer Platt | Getty ImagesBuzzFeed fell 39% in its first week of trading, closing at $6.07 per share, an inauspicious start for the prospects of digital media companies on public markets. But even if its valuation is disappointing, Buzzfeed's debut gives peers something they didn't have before: a public market valuation comparison. "Digital media doesn't really have comps," BuzzFeed Chief Executive Officer Jonah Peretti told CNBC in an interview. "As far as digital media that reaches a millennial or Gen Z audience, we're the only one that's public." If BuzzFeed shares eventually skyrocket, peers such as Vox Media, Vice Media, Group Nine and Bustle Digital Group may try again to go public themselves. All four considered that route earlier this year, with varying degrees of seriousness. But when special purpose acquisition companies, or SPACs, lost their investment appeal around April, the industry...
    A former head of the men’s division at an esteemed modeling agency claims he was pushed out of the company to cover up the president’s alleged misconduct. In a lawsuit filed in New York state supreme court, John Hendrich—a former executive vice president at The Society Model Management—alleges he witnessed President Chris Gay “inappropriate[ly] touching” a junior employee, Olga Tavares. When Tavares later issued a legal threat against The Society, Hendrich claims, the company fired him for failing to report the incident. According to the suit, Gay faced no repercussions. The Society, through counsel, tells The Daily Beast that an independent investigation of Tavares’ claims found no evidence of harassment or wrongdoing by Gay. Hendrich and Tavares both worked for the men’s division at The Society, a subset of the larger Elite World Group—a modeling and talent agency with 11 offices around the world and more than 5,000 models and other personalities. (Bigger names repped by EWG include Helena Christensen and Christina Aguilera.) According to the suit, Hendrich joined The Society in 2019 to build out the men’s division, and...
    In this article FOUNPeople wait in line for t-shirts at a pop-up kiosk for the online brokerage Robinhood along Wall Street after the company went public with an IPO earlier in the day on July 29, 2021 in New York City.Spencer Platt | Getty Images News | Getty ImagesThis year's bull market in tech IPO has turned into a bear. The recent downdraft in shares of high-valued, high-growth, money-losing businesses has led to an outsized selloff in companies that hit the market in 2021. CNBC identified 55 tech companies that debuted in the U.S. this year through an IPO, special purpose acquisition company or direct listing. Only one of them — GlobalFoundries — is less than 20% off its high price. That means the rest are in bear market territory, typically defined as a drop of 20% or more from their peak. Ten of those companies have slid by at least that much in just the last week. Even worse, 23 of those companies have lost half or more of their value since reaching their highs, including Robinhood, which has...
    New York (CNN Business)Smaller American companies are getting crushed in the stock market's recent wild swings. That could be an ominous sign for the economy.The Russell 2000 (RUT) index, home to companies like Crocs (CROX), BJ's Wholesale (BJ) and others with an average market valuation of about $3 billion, is now trading more than 10% below its 52-week high. That means it's in a so-called correction. An iShares exchange-traded fund of microcap stocks (IWC) (which are even tinier firms than those in the Russell 2000) is nearly 15% below its peak. So it's potentially heading into a bear market.This is troubling because most smaller US firms depend more on the American economy (and US consumers) for their revenue and earnings than the giants of the Dow and S&P 500. They aren't generating as much revenue and profit from markets around the world.So the hard times for smaller stocks might be a more accurate barometer of the US financial landscape than what's happening with big tech companies like Apple (AAPL), Microsoft (MSFT) and Google owner Alphabet (GOOGL) — which have held...
    Rapper Bad Bunny is accusing a South Florida craft brewer of bad behavior. The popular Puerto Rican rapper, singer, songwriter, actor and producer says Hialeah-based Unbranded Brewing Company is illegally using his name, image and likeness to market one of its brews. In a lawsuit filed Monday in U.S. District Court in Miami, Bad Bunny, whose real name is Benito Antonio Martinez Ocasio, said the company named one of its beer products San Benito — the trademark that Ocasio uses to provide producer services. The beer can’s design portrays a man resembling Ocasio surrounded by imagery “well known by Ocasio’s fan base as closely associated with Ocasio,” including a bunny and “third eye” symbol, the suit states. On Tuesday, the brewery’s founder, Zachary Swanson, acknowledged that the image on the beer can resembles Ocasio and said sales of the San Benito brand has been stopped until a new design can be developed. “So basically we have a character that looks similar to him,” said Swanson in an interview. “We’ve agreed to stop using the iconography or imagery that looks anything...
    Scott Disick Comments on Kourtney Kardashian’s Post After Travis Engagement Everything to know about COVID-19 vaccine and children: When will it be available? We spend a lot of time talking about the elite teams in the NFL. However, there's also money to be made when discussing the bad teams. This season, we're graced with three teams that have yet to be favored in a single game. Is this normal? Which of these teams do oddsmakers view as the worst? And has the gap between elite teams and bad teams widened?  Jets, Texans and Lions yet to be favored At this point of the season, I'd feel fairly comfortable saying that the New York Jets, Houston Texans and Detroit Lions are three of the worst teams in the league. Oddsmakers would agree, as the three teams have yet to be favored in a game this season. The three teams have combined for three total wins. The Lions are on a bye this upcoming week, but the other two are significant underdogs again in Week 9 against mediocre competition.  The Jets...
    Facebook VP of global affairs Nick Clegg told staffers in an memo on Saturday to 'steel [themselves] for more bad headlines in the coming days' as a cadre of news outlets begin to print fresh claims from whistleblower Frances Haugen.   Clegg, who was previously the UK's Deputy Prime Minister, warned in the email that new coverage may contain 'mischaracterizations of our research, our motives and where our priorities lie,' and told employees to 'listen and learn from criticism when it is fair, and push back strongly when its not.' 'But above all else,' he wrote to Facebook staffers, according to Axios, 'We should keep our heads held high and do the work we came here to do.'  He spoke as two dozen outlets which obtained fresh revelations from Facebook whistleblower Frances Haugen broke an embargo set to expire Monday, and began printing fresh revelations.  Those included the social network struggling to work out exactly how many active users it has, and the fact that Facebook is so afraid of being seen to have a liberal bias that it 'bends over...
    John Oliver has attacked the parent company of his own show, lashing out at the executives for having founded One America News Network - a news channel which he described as 'a rag-tag bunch of fascists'.  Oliver spoke out after a Reuters investigation published last week showed the role AT&T played in creating and funding OAN, a network that continues to spread conspiracy theories about the 2020 election and the COVID-19 pandemic.  OAN founder and chief executive Robert Herring Sr has testified that the inspiration to launch OAN in 2013 came from AT&T executives. 'They told us they wanted a conservative network,' Herring said during a 2019 deposition seen by Reuters.  'They only had one, which was Fox News, and they had seven others on the other [leftwing] side. When they said that, I jumped to it and built one.' John Oliver on Sunday night used his show - broadcast on HBO - to attack AT&T, which owns HBO The British comedian said OAN was 'a rag-tag bunch of fascists' who were 'happy to give a platform to bats*** election-fraud...
    POINT PLEASANT, New Jersey (WABC) -- After bad gas led to more than $1,200 in damage to her car and the gas station owner and its parent company refused to pay for it, New Jersey teacher Katie Alvino called 7 On Your Side.Last July, Alvino hopped into her one-year-old Acura TLX on her way to the beach.She noticed her fuel gauge was on "E" so she filled up at a Conoco gas station in Point Pleasant."Got gas, got in my car went to the beach, then two and a half hours later, car wouldn't start," Alvion said.Alvino's boyfriend called a tow truck and the tow operator suspected there was a problem with the petrol."He asked what did you do? I said 'I just got gas.' He said, 'there it is,'" Alvino said.He was right, her mechanic emptied her fuel tank and found watery gas."'It's contaminated. Your car can't run on water,'" the mechanic told Alvino.He removed all of the gas and replaced the fuel pump.Alvino took the more than $1,200 bill to the gas station's owner."First question was, 'why is...
    MINNEAPOLIS (WCCO) — Target workers will receive extra pay during the busiest weekends of the holiday season. The Minneapolis-based retail giant announced Tuesday that store workers will get an extra $2 an hour for working the five weekends ahead of Christmas. Hourly workers will also earn more on Christmas Eve and the day after Christmas. The company says the pay increase is a way to thank workers for all they do during the holiday rush. Other company workers will also receive holiday pay.   More On WCCO.com: ‘It’s Bad, It’s Bad’: Proctor Teens Say Students Used Item To Sodomize Teammate, Shared Video Online ‘I Thought For Sure I Would Be Fired’: Vaccine Mandate Deadline Arrives For Twin Cities Health Care Systems Some Democrats Fear ‘Massive National Blowback’ If MPD Replaced Minnesota’s Cold Weather Rule Takes Effect Oct. 1
    A national news reporter responsible for a series of exposés of Theranos is accusing Elizabeth Holmes of trying to bar him from her trial in a ploy to stop his reporting, according to a motion filed in court Friday. Former Wall Street Journal reporter John Carreyrou wrote dozens of articles about Theranos starting in October 2015, spurring federal investigations that ultimately led to Holmes standing trial in U.S. District Court in San Jose on a dozen felony fraud charges. Carreyrou now puts out a podcast called “Bad Blood,” the same name as his best-selling book on Holmes’ failed Palo Alto blood-testing startup. Carreyrou is the only journalist named on Holmes’ witness list — which contains several redacted names — according to Carreyrou’s motion. So without the judge’s permission, Carreyrou may not be able to attend court for witness testimony, or publicly discuss any testimony he may give, including on his podcast, his Friday motion said. However, Carreyrou suggested that because defense lawyers have not subpoenaed him as a witness, he was put on the witness list because of Holmes’ “animus”...
    (CNN) — In November 2014, Chantelle Darby awoke to an excrement-fueled nightmare. Her Roomba robot vacuum was set to run in the middle of the night, while she, her husband, and their dogs were asleep. But one of the three dogs — a foster pooch named MacGregor — pooped in the house at around the same time. When Darby got up in the morning, there was poop smeared throughout most of her home. “I remember walking into my office and it looked like a murder scene, but with poop,” Darby said Thursday. In her office, she said, the Roomba ran over a power cord, then kept roving in circles, leaving tracks reminiscent of crop circles. They threw out a rug, power cords, and — after her husband tried and failed to clean it — the Roomba. Darby said she and her husband bought another Roomba and began using it during the day, but the same sort of thing eventually happened again after MacGregor had another accident indoors. (Despite the Roomba poop-spreading, Darby and her husband adopted MacGregor.) IRobot, the company...
    SAN JOSE, California—At Theranos CEO Elizabeth Holmes’ criminal trial on Wednesday, federal prosecutors underscored the fallen wunderkind’s desperate bid to pump millions into her sinking startup, which she vowed would revolutionize blood-testing with technology that could screen for hundreds of diseases with just the prick of a finger. But Holmes’s lawyer deflected blame for Theranos’ shortcomings, pointing instead to the company’s former lab director, along with its former president, Ramesh “Sunny” Balwani, who was allegedly tasked with overseeing the lab and its employees. (In recently unsealed court filings, Holmes’ team signaled their defense would rely on Holmes’ accusations that Balwani physically and emotionally abused her. He denies those claims.) Federal prosecutors say Holmes—a 37-year-old Stanford dropout once hailed as the next Steve Jobs—duped consumers and investors for years by claiming Theranos’ devices could run scores of tests using a few drops of blood. And investors weren’t the only victims in the alleged $700 million fraud. Multiple patients received flawed lab results from the Silicon Valley shop, and some of that blood work came with potentially dire consequences, assistant U.S. Attorney...
    Like many who have gravitated to Silicon Valley, British scientist Ian Gibbons was drawn by its Californian can-do spirit, so refreshing after what he considered the stuffiness of Cambridge, where he had studied for years. And when, in 2005, he was appointed chief scientist at Theranos, then hailed as the most ‘can-do’ venture of them all, he was determined to help it achieve its ambition of revolutionising medicine on a grand scale. Its wunderkind, founder Elizabeth Holmes, just 19 when she launched the company, claimed to have developed an automated blood-testing device that, via a single pinprick on a patient’s finger, could detect hundreds of diseases and substances, from cancer to cocaine, and would help save millions of lives. Instead, Ian’s widow Rochelle told the Mail this week, Theranos and its ‘evil’ chief executive Holmes cost him his life after he dared to challenge her claims to have perfected the miracle diagnosis machine. As a rigorous, honest scientist, he soon realised her grandiose claims for the device were hollow and that it actually put patients’ lives at risk. In May...
    Spirit Airlines says it lost $50 million after cancelling thousands of flights earlier this month, leaving travelers stranded and desperate in airports across the country. From July 30 to August 9 the airline cancelled 2,826 flights, leaving passengers forced to sleep on airport benches and haggle with customer service representatives.  The meltdown, which the airline blamed on bad weather and a staffing shortage, will cost them another $80 to $100 million in revenue in the ongoing third quarter, the airline announced in a SEC filing Monday.  Shares of the company fell by four percent after the announcement, down to $24.27 on Monday from a high of $28.94 on July 26, four days before the chaos. Spirit said it will cancel even more flights in the near future to 'enhance network stability.'  In the meantime, the US Department of Transportation says it's reminded the company of its 'legal obligation' to provide timely refunds, and Sen. Maria Cantwell has added them to a list of carriers she's grilling about flight disruptions. Spirit got $410 million in payroll support this year thanks to...
    New York (CNN Business)Home Depot has thrived in the red-hot housing market, but there are growing signs that demand is finally starting to cool. Although Home Depot's second-quarter earnings and revenue topped forecasts on Tuesday morning, a few stats were concerning: For example, same-store sales growth, which measures how well locations up at least a year are doing, rose just 3.4% in the US. That's a big dropoff from the first quarter and below analysts' estimates. What's more, fewer people were shopping in Home Depot stores this quarter. The company reported 481.7 million customer transactions, down nearly 6% from the same period a year ago. Shares of Home Depot (HD), which have soared more than 25% so far this year, were down more than 3% in premarket trading Tuesday on the news. Investors seem worried this could be a trend, as rival Lowe's (LOW) — which will report its second-quarter results Wednesday — fell 2%.Read MoreConsumer sentiment suddenly crashes below early-pandemic levelsThe good news for Home Depot is that customers are spending more on higher-priced items. The average customer ticket...
    Apple announced last week that it will begin tracking photos stored on its iCloud Photos service for child sexual abuse material. It will do so starting with iOS 15 and iPadOS 15, which will hit the company’s devices this fall. The big tech They have been carrying out activities of this type for years, but Apple’s services, remember, have always been characterized by their special privacy. This movement, therefore, contrasts, at least a priori, with that characteristic that the company has made one of its hallmarks. However, in order to continue offering a system according to these standards and, at the same time, to be able to detect the aforementioned criminal activities, Apple has designed a complex system that, instead of scanning images in the cloud, performs a comparison on the device itself using a database of image hashes child sexual abuse report provided by the National Center for Missing & Exploited Children (NCMEC). The company explains its implementation in detail in a technical summary (PDF). Apple’s implementation raises doubts Various personalities have not been slow to publicly...
123