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Business | New York Post

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Last Build Date: Fri, 17 Nov 2017 17:59:49 +0000


MoviePass dangles big discount heading into holidaysMovie Theater

Fri, 17 Nov 2017 11:10:29 -0500

MoviePass is cutting the price of a movie to less than the cost of a popcorn and a drink. For a limited time, the all-you-can-watch movie ticket will now cost you just $6.95 a month — 30 percent below its usual $9.95 price. But there’s a small catch — you have to pay for an...

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AT&T, DOJ agree to extended review of Time Warner mergerAT&T logo on office building

Thu, 16 Nov 2017 23:12:15 -0500

AT&T and the Department of Justice have agreed to extend the review of its merger past Friday, two sources close to the situation said on Thursday. The agreement provides some glimmer of hope that the two sides can come to an agreement on terms to gain approval of the telecom’s $85 billion acquisition of Time...

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John Malone says Charter Communications in high demand for merger, acquisitionLiberty Media Corp. chairman Malone arrives at the annual Allen and Co. conference at the Sun Valley

Thu, 16 Nov 2017 22:18:26 -0500

At least four large media companies have approached Charter Communications about a partnership or an acquisition, company director John Malone said Thursday. Malone, speaking at Charter’s investor day, said the approaches by the companies, who he named as Altice, SoftBank and Verizon, were turned aside. Malone, in an interview on CNBC, refused to identify the...

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Buzzfeed’s revenue to fall $70M short of targetBuzzfeed employees work at the company's headquarters in New York

Thu, 16 Nov 2017 22:03:12 -0500

BuzzFeed’s expected IPO is now expected to be MIA. The 11-year-old digital publisher once famous for lightweight “listicles” will likely push back plans to go public next year, as it has fallen heavily behind projected revenue growth, according to a report on Thursday. Revenue in 2017 is expected to come in $70 million short of...

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Amazon to sell exclusive Calvin Klein apparelman hand holding screen shot of Amazon application

Thu, 16 Nov 2017 18:52:56 -0500

Amazon is coming between department stores and their Calvins. Jeff Bezos’ online behemoth is getting the first crack at Calvin Klein’s latest underwear designs in a deal that snubs old-line department stores like Macy’s, Bloomingdales and Saks Fifth Avenue — stores that have long been the designer’s primary retail outlets. Amazon will also sell exclusive...

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Twitter yanks verification badges from white supremacistsFRANCE-US-INTERNET-IT-IPO-TWITTER

Thu, 16 Nov 2017 16:08:35 -0500

Twitter hasn’t banned white supremacists and neo-Nazis from its site, but it has yanked away their “verified” status. The social network confirmed it has revoked the “verification” badges from the profiles of racist instigators including Jason Kessler and Richard Spencer. Twitter’s move late Wednesday followed a backlash last week when it gave a verification —...

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Activist investor wants to take Barnes & Noble private for $650M100117barnesandnoble5CS

Thu, 16 Nov 2017 15:19:44 -0500

An activist investor has proposed to take Barnes & Noble private in a deal that would value the bookseller at $650 million. Sandell Asset Management’s surprise move, reported by the Wall Street Journal on Thursday, comes nearly four months after the hedge fund made an impassioned plea for the company to go private, arguing that...

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Time Inc. shares leap 25 percent on report that Koch brothers are circlingPhoto Shoot of Time Inc.'s New Corporate Headquarters

Thu, 16 Nov 2017 11:50:58 -0500

Time Inc.’s stock, after hitting a 52-week low only a week ago, was up more than 25 percent in early trading Thursday on news that the billionaire Koch brothers, Charles and David, were ready to kick in $500 million in equity to Meredith Corp. to finance a takeover. “If the speculation regarding the Koch brothers...

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Paul Singer’s fund discloses stake in Mednax, shares soarCNBC Events - Delivering Alpha 2015

Thu, 16 Nov 2017 11:22:55 -0500

With less than two months left in the year, Paul Singer has found a new activist target and its stock is soaring on the hedgie’s involvement. Shares of Florida-based Mednax gained as much as 9 percent to $49.97 Thursday morning after Singer’s Elliott Management announced a roughly 7 percent the healthcare company through a mix...

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Viacom shares plunge on grim forecast for pay TVFILE PHOTO: Viacom Tops Third Quarter Estimates

Thu, 16 Nov 2017 10:43:06 -0500

Viacom, owner of MTV, Comedy Central and Paramount, said Thursday it expects high single-digit declines in revenue from US cable TV operators and online distributors in the first half of 2018, sending its shares down 8 percent. The company said pay-TV subscribers continued to decline. The New York-based media company beat analyst estimates on revenue...

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Best Buy shares tumble on weak holiday forecastBest Buy Acquires Napster For $121 Million

Thu, 16 Nov 2017 10:41:27 -0500

Best Buy reported disappointing third-quarter results on Thursday and forecast holiday-quarter profit below Wall Street estimates as it cut prices to match those offered by rivals including Amazon. Shares of the United States’ single largest consumer electronics chain fell 6.3 percent to $53.69 in early trades Thursday. With online sellers driving down prices of electronic...

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Mattel snubs buyout offer from rival HasbroMattel's Fourth Quarter Profit Drops 46 Percent

Thu, 16 Nov 2017 10:07:23 -0500

Mattel has rebuffed Hasbro’s latest takeover approach, people familiar with the matter said on Wednesday, casting uncertainty over the potential combination of the world’s two largest toy companies. Mattel’s rebuttal indicates that Margaret Georgiadis, who took over as the company’s chief executive in February, is seeking to drive a hard bargain in negotiations with Hasbro,...

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Nelson Peltz wins P&G board seat in vote recountCNBC Events - Season 2014

Thu, 16 Nov 2017 09:52:42 -0500

Now it is Procter and Gamble’s turn to demand a recount. One month after the Bounty and Crest maker declared victory over billionaire activist investor Nelson Peltz in the largest proxy fight ever waged, a second vote count has overturned the results and handed Peltz a razor-thin victory, according to a report on Wednesday. Peltz,...

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Walmart shares jump on better-than-expected salesChristmas season shoppers leave the Wal-

Thu, 16 Nov 2017 09:37:03 -0500

Doug McMillon is proving you can teach an old dog new tricks. The Walmart chief executive, after years of heavy investing in the chain’s online store, is reaping the rewards of the retailer’s now-muscular e-commerce site. On Thursday, Walmart reported online sales jumped 50 percent in the third quarter — enough for McMillon to raise...

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Tesla is about to unveil an all-electric semi truckElectronic Car Maker Telsa Reports Quarterly Earnings

Thu, 16 Nov 2017 09:19:15 -0500

Tesla on Thursday will unveil a prototype electric big-rig truck, which may be able to drive itself, throwing the company into a new market even as it struggles to roll out an affordable sedan which is central to the company’s future. Chief Executive Elon Musk has described electric trucks as Tesla’s next effort to move...

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Wall St. traders secretly used chat rooms to rig Treasury bond prices: suitNew York Stock Exchange Set To Open After Global Market Plunge

Thu, 16 Nov 2017 00:45:38 -0500

Wall Street banks secretly shared client information in online chat rooms in order to rig auctions for the $14 trillion US Treasurys market, according to an explosive lawsuit filed in Manhattan federal court on Wednesday. The move wrongly fattened the banks’ profits and picked profits from clients, the suit claims. The new accusations, leveled by...

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Why it’s going to pay to be an investment banker this yearwallst

Wed, 15 Nov 2017 23:39:47 -0500

Big bonuses are back on Wall Street — but not for everybody. Investment bankers and wealth managers can expect 9- to 10-percent pay bumps this year, while most other financial workers are probably going to see their total compensation shrink from 2016, according to a report from headhunter Options Group. “Investment bankers are probably going...

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This is the tax reform plan that would truly pay offcapitol

Wed, 15 Nov 2017 23:34:46 -0500

Let’s say Congress suddenly gets its act together and passes a tax reform plan that lowers the corporate tax rate to 25 percent. I know, I’m talking fantasy here — but humor me. I have to fill a column. What would happen? Would companies pay less in tax? No, not necessarily. Would the economy get...

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AT&T-Time Warner deal heading for big league legal battleFILES-US-MEDIA-TELEVISION-MERGER-ATT-TIMEWARNER

Wed, 15 Nov 2017 22:36:50 -0500

Randall Stephenson appears to be walking into a helluva legal brawl. The AT&T chief executive, barring a last-minute settlement, will likely be sued soon by President Trump’s Justice Department, which is bent on stopping the telecom giant’s $85 billion megamerger with Time Warner. And in defending such an antitrust lawsuit, Stephenson’s legal eagles will run...

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IKEA glass tables are spontaneously exploding

Wed, 15 Nov 2017 19:57:28 -0500

IKEA customers are reporting freaky instances of the Swedish brand’s glass tables spontaneously shattering — sometimes when no one is nearby. One Indiana woman said her son’s ‘Glasholm’ glass-top desk from the furniture maker exploded when he wasn’t even in his room. “I was cooking dinner, when I heard a big sound like a big...

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