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Business | New York Post

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Last Build Date: Thu, 18 Jan 2018 04:58:38 +0000


CFPB to seek public comments on regulations0MB Director Mulvaney speaks to the media at the U.S. Consumer Financial Protection Bureau in Washington

Wed, 17 Jan 2018 22:48:42 -0500

A government regulator of credit cards, loans and other consumer products may overhaul just about every aspect of what it oversees — paving the way for the Trump administration to ease regulations on financial companies. The Consumer Financial Protection Bureau said Wednesday it will seek public comments on enforcement, supervision, rule-making, market monitoring and education...

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Why the Fed’s latest numbers are a reminder of 2008011918-fed-reserve

Wed, 17 Jan 2018 22:35:09 -0500

The Federal Reserve said last week that Americans’ outstanding debt hit a record level in November. And judging from anecdotal evidence provided by retailers, December probably had a pretty good follow-through. Revolving credit, which is mostly credit card debt, jumped by $11.2 billion, to $1.023 trillion. That went past the previous record set in April...

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Our politicians are ignoring the bigger debt pictureSenate Votes On Stopgap Government Funding Agreement

Wed, 17 Jan 2018 22:34:31 -0500

It is hypocrisy time in Washington. I know what you are thinking — it’s always hypocrisy time in Washington. But for our lawmakers, this evil trait is front and center whenever they start trying to put together a budget that doesn’t hurt the nation’s debt level too much. Technically, a continuing resolution — a Band-Aid...

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You won’t be seeing ‘Nestle’ candies in the US soonFILE PHOTO - Nestle candy products are displayed the company's news conference in New York

Wed, 17 Jan 2018 22:02:50 -0500

The iconic Nestle brand name will soon disappear from candy aisles in US stores, The Post has learned. Part of the deal that saw Italy’s Ferrero this week agree to buy Nestle’s US confectionery business for $2.8 billion includes the right to use the Nestle name for just one year, a Ferrero spokeswoman confirmed on...

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West Village penthouse owner wants to keep hedgie’s $2M deposit165 Perry Street

Wed, 17 Jan 2018 21:54:11 -0500

Hedge this! The owner of a West Village penthouse wants to keep a hedge fund exec’s nearly $2 million deposit because the financial pro backed out of a deal to buy the pricey pad. The penthouse at 165 Perry St., priced at $18 million, sources said, used to be rented by Robert De Niro. William...

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Why Dow’s frantic rise should be met with cautionTrump-One Year-Economy

Wed, 17 Jan 2018 20:52:14 -0500

Do I hear 26,000? Yes, 26,000 here. The Dow Jones industrial average passed another thousand-point milestone on Wednesday — closing above 26,000 for the first time just eight trading days after first closing above 25,000. That means the Dow climbed 1 percent every two days in frantic bidding — marking the fastest 1,000-point sprint ever....

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Dow closes above 26K for first timeFinancial Markets Wall Street

Wed, 17 Jan 2018 16:15:31 -0500

Forget the cow — the Wall Street Bull just jumped over the moon. The stock market continued to skyrocket Wednesday as the Dow Jones industrial average surged more than 300 points to close above 26,000 for the first time in its 121-year history. The new blue-chip peak continues a stellar start to 2018 as a...

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Scaramucci’s SkyBridge Capital deal still in limbo after a yearCelebrity Sightings in New York City - August 14, 2017

Wed, 17 Jan 2018 15:25:17 -0500

Tick-tock. Tick-tock. It’s been one year since Anthony Scaramucci’s SkyBridge Capital announced its sale to a consortium of foreign buyers, and the deal is still in limbo. We have “no idea when it’s closing,” a source familiar with the transaction told The Post, noting that the deal is still under review by the Committee on...

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Apple plans new campus, will add 20,000 more jobsUS-POLITICS-TECHNOLOGY

Wed, 17 Jan 2018 13:47:49 -0500

Apple is stepping up to the plate — big time. The tech titan on Wednesday promised to create 20,000 new American jobs over the next five years, part of $350 billion US investment plan. The iPhone maker also said it will build a second US corporate campus and pay $38 billion in taxes as it...

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BofA takes one-time tax hit, vows benefit in longer termUS-ECONOMY-BANK

Wed, 17 Jan 2018 11:50:46 -0500

Bank of America’s quarterly profit nearly halved due to tax-related charges, though net income excluding that hit topped estimates and management promised the new US tax system would eventually benefit shareholders. The tax overhaul is taking a chunk out of Wall Street profits this quarter as lenders swallow one-time charges on overseas earnings and write...

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Smart vending machines could change e-commerce as we know it

Wed, 17 Jan 2018 10:06:11 -0500

Lowly vending machines that spit out candy, soda and smokes are so last century. New-fangled machines that sell down jackets and cell phones are on the verge of becoming vital cogs in the e-commerce, want-it-now revolution — serving as around-the-clock, around-town warehouse-like distribution points that make the last mile to customers’ front door smooth and...

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Goldman Sachs posts first quarterly loss in six yearsEarns Goldman Sachs

Wed, 17 Jan 2018 09:58:12 -0500

Well, that’s embarrassing. Goldman Sachs, one of the biggest corporate beneficiaries of the Trump era, reported that it still struggled to make money during the fourth quarter, posting its first quarterly loss in six years. Lloyd Blankfein’s bank made 50 percent less in trading bonds, currencies and commodities during the fourth quarter than it did...

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‘Today’ show gets new executive producer in major overhaul2014 REPORTERS' COMMITTEE for FREEDOM of the PRESS FIRST AMENDMENT AWARDS Dinner

Wed, 17 Jan 2018 09:50:15 -0500

There’s another major shakeup at the “Today” show. Senior producer Libby Leist has been elevated to the role of executive producer of the show, The Post has learned. Leist replaces Don Nash, the longtime EP, who stepped down after a 30-year career at the company. According to NBC insiders, Nash was asked to stay and...

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Walmart offers way to turn leftover opioids into useless gelopioids

Wed, 17 Jan 2018 01:21:19 -0500

Walmart is helping customers get rid of leftover opioids by giving them packets that turn the addictive painkillers into a useless gel. The retail giant announced Wednesday that it will provide the packets free with opioid prescriptions filled at its 4,700 U.S. pharmacies. The small packets, made by DisposeRX, contain a powder that is poured...

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Don’t bother bringing cash if you’re flying American Airlinesamerican-airlines-ticket-feature

Tue, 16 Jan 2018 23:36:08 -0500

If you’re planning on flying American Airlines out of Miami International Airport, don’t forget your debit card. Starting Thursday, the mega-airliner has announced it is moving to a cashless model at the Florida airport and will no longer be accepting anything other than credit or debit cards for desk transactions such as checked bags or...

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Nelson Peltz hopes he can turn things around for GEAX169_3F2C_9

Tue, 16 Jan 2018 22:30:37 -0500

Nelson Peltz is hoping his well-worn activist-investor playbook will bring good things to life at GE. Peltz’s Trian Fund Management, which has seen its investment in the troubled General Electric decline since when he bought into the company in 2015, is pushing the conglomerate to explore possible sales or spin-outs of many of its businesses...

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Judge seems OK with Ackman’s $290M Allergan settlement2016 DealBook Conference

Tue, 16 Jan 2018 21:37:44 -0500

Bill Ackman and Valeant Pharmaceuticals can breathe a sigh of relief — for now. A federal judge in California indicated Tuesday that he would grant preliminary approval to a $290 million settlement Ackman’s Pershing Square and Valeant reached with shareholders of Botox-maker Allergan. “The Court has vacated the trial date and indicated its preliminary approval...

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Einhorn’s hedge fund gained only 1.6% last year011618_hedgefund_einhorn

Tue, 16 Jan 2018 16:24:46 -0500

David Einhorn’s investors aren’t the only ones upset by his hedge fund’s lagging performance — the hedgie himself is also frustrated. Einhorn’s Greenlight Capital reported a paltry 1.6 percent gain for 2017, while the S&P 500 soared 21.8 percent, according to a letter sent to investors Tuesday. “We had a nondescript result in a period...

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AT&T urged to cut commercial ties with Chinese phone maker072617att2CS

Tue, 16 Jan 2018 12:19:46 -0500

US lawmakers are urging AT&T, the No. 2 wireless carrier, to cut all commercial ties to Chinese phone maker Huawei Technologies and oppose plans by telecom operator China Mobile to enter the US market because of national security concerns, said two congressional aides. The warning comes after the administration of President Trump took a harder...

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Moonlite Bunny Ranch considers accepting bitcoin2006 Exotic Erotic Expo and Ball: A Celebration of Flesh, Fetish and Freedom

Tue, 16 Jan 2018 11:25:11 -0500

The Moonlite Bunny Ranch, the famous Las Vegas brothel that was the setting for the HBO series “Cathouse,” is looking to cash in on the bitcoin trend. Dennis Hof, owner of the ranch, said in a press release that his brothels are currently looking at ways to accept bitcoin as a payment for services. “We...

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