Month: February 2018

Check out the companies making headlines after the bell Wednesday: Box shares plunged 13 percent after hours. The cloud content management company reported smaller losses per share than expected and revenue was in line with Wall Street estimates. CEO Aaron Levie felt confident about the past quarter and its metrics, stating that there are great
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Two weeks ago, the embattled Weinstein Company looked like it had finally found a way forward. An investor group had emerged with a plan to buy 90 percent of the studio’s assets, including rights to “Project Runway” and a 277-film library. The new company would be primarily led by women. For the Weinstein Company, crippled
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The Chinese government’s takeover of Waldorf Astoria owner Anbang Insurance reveals how President Xi Jinping’s approach to cracking down on conglomerates minimizes losses for creditors and investors, according to Eurasia Group. The consulting firm’s Asia director Michael Hirson said in a Monday note that “the choices Beijing deferred are equally interesting — and instructive.” Rather
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Samsung unveiled the latest version of its flagship Galaxy line of phones on Sunday. The Samsung Galaxy S9 has a similar look to the S8. The biggest differences between the two seem to lie in the S9’s camera, which lets users take better quality pictures in low-lit settings, and includes a slow motion feature with
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Donat Sorokin | TASS | Getty Images A girl poses for a photograph on a stone sphere monument that unidentified persons have painted with the white Bitcoin cryptocurrency symbol in Oktyabrskaya Square, Yekaterinburg, Russia. Bitcoin jumped back above $10,000 Monday morning amid broad gains in the cryptocurrency market. The largest cryptocurrency spiked in late morning
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Mexico’s securities regulator has imposed one of its biggest fines ever for market manipulation on steel company Industrias CH, owned by billionaire Rufino Vigil Gonzalez, government data showed. Industrias CH was fined 2.96 million pesos ($159,764) at the end of November for making “prohibited trades” under a law banning simulating price or volume, or effectively
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Anbang Insurance Group said on Monday it fully supported the Chinese insurance regulator’s decision to temporarily seize control of the company, and remains committed to the development of its overseas subsidiaries. These are the first comments by Anbang on the Chinese government’s move on Friday to seize control of the company. “We fully support CIRC’s
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General Electric will restate its earnings for 2016 and 2017 as it adopts a new accounting standard, according to a regulatory filing Friday. The updated accounting standard, which will take into account revenue from long-term contracts, will result in a 13 cent cut in reported earnings per share for 2016 and a cut of 16
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Warren Buffett’s Berkshire Hathaway on Saturday reported a record quarterly and annual profit, benefiting from a lower U.S. corporate income tax rate. Fourth-quarter net income increased roughly fivefold to $32.55 billion, or $19,790 per Class A share, from $6.29 billion, or $3,823 per share, a year earlier. Quarterly operating profit for the Omaha, Nebraska-based conglomerate
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Warren Buffett’s Berkshire Hathaway is itching to do a massive acquisition, but is having a difficult time due to elevated valuations. The Oracle of Omaha explained his buying criteria for deals in his 2017 annual letter to shareholders released on Saturday. “In our search for new stand-alone businesses, the key qualities we seek are durable
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Kraft Heinz announced Friday that Warren Buffett will be retiring from its board when his term ends at the company’s upcoming annual meeting. In its statement, Kraft Heinz said Buffett decided to step down “as he decreases his travel commitments.” Alex Behring, chairman of the board, said Buffett made “many invaluable contributions” to the company.
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“To support the speed, finality and sustainability required for business, we knew mining would be unsustainable because of its cost and (slow) transaction processing speeds,” said Chris Ferris, chief technology officer of open technology at IBM. Blockchain developer R3 has built its own energy-efficient blockchain for major financial institutions. They developed the permissioned blockchain Corda
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Meanwhile, the demand for packaged and processed human foods is on the decline. Food companies that specialize in packaged and ready-made foods are looking for other sources of revenue — and are betting on the booming pet industry. On Friday, General Mills, the company famous for ready-made foods, such as cereals and yogurt, announced it
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The best-run companies have leaders willing to take a stand on societal issues such as gun control, former Medtronic chairman and CEO Bill George told CNBC on Friday. “If your only purpose is making money, then you’re going to run into … difficulties,” said George, a senior fellow at Harvard Business School where he teaches
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