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Business | New York Post

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Last Build Date: Fri, 09 Dec 2016 23:12:45 +0000


The ‘American Dream’ is pretty much deadwork

Fri, 09 Dec 2016 16:06:03 -0500

Today’s 30-year-olds are making way less money than their parents did when they were their age, a new study shows. Economists and sociologists from Stanford, Harvard and the University of California analyzed tax and census data recently and found that 51 percent of 30-year-olds in the US have earned more dough than their mothers and...

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World’s oldest bank has run out of time to raise cash, ECB saysMonte dei Paschim di Siena bank CEO Marco Morelli talks during a news conference in Milan

Fri, 09 Dec 2016 10:13:10 -0500

The European Central Bank has rejected a request by ailing Italian lender Monte dei Paschi di Siena for more time to raise capital, a source said on Friday, in a move that piles pressure on the Italian government to bail out the bank. The country’s third-largest lender, and the world’s oldest, had asked for a...

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Japan ratifies Pacific trade pact that Trump plans to dumps4-reutersmedia

Fri, 09 Dec 2016 04:05:43 -0500

TOKYO — Japanese Prime Minister Shinzo Abe won parliamentary approval Friday for ratification of the Trans-Pacific Partnership, despite U.S. President-elect Donald Trump’s plan to withdraw from the 12-nation trade pact. Upper house lawmakers approved the TPP on Friday, heeding Abe’s calls to push ahead with it despite Trump’s rejection of the free-trade initiative championed by...

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Trump’s Wall Street rally best ever for new presidentPOLITICS-US-POLITICS-TRUMP-politics

Fri, 09 Dec 2016 00:47:45 -0500

It’s yuuuuge. Donald Trump’s election has spurred the biggest one-month rally in the S&P 500 of any incoming US president in the 93-year history of the index. Forged on a combination of expected job creation and higher wages, the Trump rally has pushed the S&P 500 up 4.98 percent since Nov. 8. The gain, topped...

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SEC enforcement chief Andrew Ceresney to exitceresney

Fri, 09 Dec 2016 00:36:31 -0500

One of Wall Street’s toughest cops is leaving the beat. Andrew Ceresney, head of enforcement at the Securities and Exchange Commission since 2013, will leave his post at the end of the year, the regulator said Thursday. “My time as Enforcement Director has been the highlight of my career,” Ceresney said in a statement. Ceresney...

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Ackman attempts to entice hedge fund execs to stay around161010-bill-ackman-feature

Fri, 09 Dec 2016 00:22:22 -0500

Some of Bill Ackman’s employees will be sporting golden handcuffs soon. Ackman’s Pershing Square fund is now offering pension-like benefits to entice certain high-ranking employees to stay put longer. The benefit vests over 10 years and is forfeited if employees jump ship before. Employees who do not have profit interests in the firm will continue...

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Board member trampled shareholders’ rights by helping Zuckerberg: suitzuck-marc

Thu, 08 Dec 2016 23:55:15 -0500

Mark Zuckerberg has a knack for getting his way with Facebook’s board — and it involves a lot of texting. This spring, Facebook’s 32-year-old chief executive feverishly texted with board member Marc Andreessen as he pushed for an unusual privilege: the right to sell most of his stock while still keeping control over the company....

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Ex-Hershey Foods CEO wants to get into gummi candy business161208-david-west-gummy-bears-feature

Thu, 08 Dec 2016 10:20:34 -0500

Now this could be a real sweet nibble. The former chief executive of Hershey Foods is closing in on a deal to buy gummy bears maker Ferrara Candy Co. for roughly $1.5 billion, The Post has learned. David West, Hershey CEO between 2007 and 2011, co-heads Centerview Capital’s listed shell company, Conyers Park Acquisition, which...

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Josh Kushner’s health startup opens trendy Brooklyn clinic

Thu, 08 Dec 2016 08:12:36 -0500

Oscar Health Insurance just opened its first clinic in Brooklyn — and the place looks just as slick as the startup’s hipster-friendly app. Patients who enter the new “Oscar Center” won’t find administrators pushing papers behind a desk. Instead, the administrators are loitering around a minimalist bar tapping on laptops, offering seats on comfy couches...

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Trump has made one mistake in shaking up DCtrump1207

Wed, 07 Dec 2016 23:56:24 -0500

Cancel the Boeing contract. With that thought, President-elect Donald Trump is keeping his promise to shake things up in Washington. But why, then, did he pick another Goldman Sachs alum as his Treasury secretary? Of all the things he could have done to make people believe there would be no business-as-usual, this was the one...

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