facebook pixel
chevron_right Business
Law Firm Sedgwick to Close in January
Law firm Sedgwick LLP is closing its doors after nearly 85 years in business, the latest firm to succumb to increasing competition in the legal market. The firm, most known for its insurance and litigation practices, said Tuesday it will close in early January. Once home to some 375 lawyers, Sedgwick is down to fewer than 160 after mounting departures and failed merger talks in recent months.
Mall Owners Ramp Up Holiday Spending in an Era of Diminished Expectations
The biggest mall and mixed-use center landlords across the US are digging deep into their pockets to attract customers this holiday season, rolling out everything from winter castles and Santa sightings to gingerbread-making classes and temporary skating rinks. They are under no illusion their efforts will bring windfalls to them or their tenants.
Effort to Block AT&T-Time Warner Deal Gets Mixed Reception
The Justice Department's lawsuit against the combination of AT&T Inc and Time Warner Inc sets the stage for the biggest antitrust contest in Washington since the department sued Microsoft Corp. The suit against the merger drew a split reaction from antitrust experts a day after the government unveiled the high-stakes case.
Uniper to cut 2,000 jobs in cost-cutting drive: paper
Uniper, the power plant and energy trading unit spun off by German utility EON (EONGn. DE), said last year it planned to save 400 million euros ($470 million) by the end of 2018 by cutting jobs and spending as it fights a crisis at its generation business. The company had not said so far how many jobs would go. Uniper has agreed with labor bosses on cuts via natural attrition, partial retirement and severance packages, finance chief Christopher Delbrueck told the Rheinische Post.
Uber paid hackers $100,000, concealed data stolen from 57 million accounts
Uber Technologies Inc paid hackers $100,000 to keep secret a massive breach last year that exposed the data of some 57 million accounts of the ride-service provider, the company said on Tuesday. None of this should have happened, and I will not make excuses for it, Khosrowshahi said in a blog post on the company website. The company said two hackers gained access to proprietary information used by Uber and stored on GitHub, a service that allows engineers to collaborate on software code.
Apple scientists disclose self-driving car research
Yielding to that dynamic, Apple in July established the Apple Machine Learning Journal for its researchers. Their work rarely appears outside the journal, which so far has not published any research on self-driving cars. Self-driving cars often use a combination of normal two-dimensional cameras and depth-sensing LiDAR units to recognize the world around them. Though Chief Executive Tim Cook has called self-driving cars the mother of all AI projects, Apple has given few hints about the nature of its self-driving car ambitious.
Meg Whitman stepping down as HP Enterprise CEO
Meg Whitman on Tuesday announced that she will step down as chief executive of Hewlett Packard Enterprise Co (HPE.N), ending a 6-year tenure that included overseeing one of the biggest corporate breakups in history. She aggressively shed assets and cut tens of thousand of jobs as HPE sharpened its focus on server and networking businesses. Neri is a trained computer engineer and has worked in every one of HPE's businesses, Whitman said during the company's earnings call on Tuesday.
With Net Neutrality and Antitrust Moves, a Mixed Message From Washington
There is so far no clear view about how Washington will navigate this constantly shifting terrain in the future. For all the good a rollback of net neutrality rules would do AT&T, the company is looking to diversify. The lawsuit is a sign that the Justice Department is beginning to think about antitrust enforcement in fundamentally new ways. The decision by the FCC to roll back net neutrality rules was less surprising, but has equally far-reaching implications.
'Very uncertain' Yellen still predicts U.S. inflation rebound
Inflation should rebound over the next year or two, she said, adding: I will say I am very uncertain about this. My colleagues and I are not certain that it is transitory, and we are monitoring inflation very closely. The Fed's top policymakers have repeated their belief that inflation would rebound even while their preferred price measure has slipped to 1.3 percent, below a 2-percent target.
Uber CEO says company failed to disclose massive breach in 2016
Uber Technologies Inc failed to disclose a massive breach last year that exposed the data of some 57 million users of the ride-sharing service, the company's new chief executive officer said on Tuesday. The company's admission that it failed to disclose the breach comes as Uber seeks to recover from a series of crises that culminated in the Kalanick's ouster in June. None of this should have happened, and I will not make excuses for it, Khosrowshahi said in a blog post.
NAFTA talks hit wall as Mexico, Canada push back on U.S. demands
Far, we have seen no evidence that Canada or Mexico are willing to seriously engage on provisions that will lead to a rebalanced agreement. Negotiators said advances had been made in agreeing on of the technical detail that forms the bedrock of the accord. The US official expressed frustration that Mexico and Canada were not engaging in talks on the auto content proposal and others aimed at rebalancing trade in the region.
Stocks rally on boost from strong global growth, earnings
Asian shares scaled a fresh decade peak on Wednesday thanks to surging markets in Europe and America, as strong global growth and rising corporate profits lured hordes of investors into equities. The index has been on an uptrend most of this year, posting a monthly loss only once in 2017. Robust global growth, low interest rates, strong corporate profits and expectations of US corporate tax cuts have boosted equities around the world.
The Trump administration's lawsuit to block AT&T's takeover of Time Warner not only threatens an enormous corporate deal. It also has ignited a guessing game on Wall Street about whether the booming market for mergers and acquisitions is about to be derailed. Roughly $2.78 trillion worth of deals have been announced worldwide so far this year, according to Thomson Reuters. The Justice Department's lawsuit on Monday to block the $85.4 billion AT&T-Time Warner deal could rapidly cool the deal-making climate.
Fed close to goals, sees dual risks as it hikes rates: Yellen
The Federal Reserve is reasonably close to its goals and should keep gradually raising US interest rates to avoid the dual pitfalls of letting inflation drift below target for too long, and of driving unemployment down too far, Fed Chair Janet Yellen said on Tuesday. A day after announcing her retirement from the central bank, planned for early February, Yellen said the Fed aims to avoid the boom and bust economy of the past.
Recent Commercial Real Estate Transactions
A five-year lease is available for a 600-square-foot storefront with 16 feet of frontage in this six-story East Village co-op. The 1928 building has a recently renovated lobby and elevators. The company, which received four months rent free for its build-out, will move in around February from 1407 Broadway. Tenant's Brokers: Marc Schoen, Brian Neugeboren and Alicia Parente, the Schoen Group at Savitt Partners.
Warning Signs About Another Giant Bitcoin Exchange
The first and largest Bitcoin exchange, Mt. This year, law enforcement took down another large Bitcoin exchange, BTC-E, which was accused of being a way station for many of the Bitcoin flowing through online black markets and ransomware attacks. The liquid nature of the Bitcoin markets, flowing around national borders and laws, is a product of the virtual currency's unusual structure. Bitcoin is stored and moved through a decentralized network of computers that are not under the control of any single company or government.
Trump Administration Scrambles Its Media Signals
President Trump's administration is scrambling its media signals. The Department of Justice on Monday sued to block AT&T's merger with Time Warner over concerns that the two would use content to stiff rivals. Trying to stop AT&T's $85 billion offer for HBO's parent is an unusual move in itself. The telecom company and others like it could give its own TV shows and movies priority over other content. Under Mr Trump, though, the confused approach makes for a blurry regulatory picture.

Want to stay updated ?


Download our Android app and stay updated with the latest happenings!!!

50K+ people are using this