At Viacom, Now Comes the Hard Part
Photo Shari Redstone, daughter of Sumner M. Redstone. What they will do with the company is a subject of speculation. Credit Ryan Stone for The New York Times In the summer of 1987, Sumner M. Redstone wrested control of Viacom in a hostile corporate takeover that left scorched relationships with the company’s management. Still bitter, executives sent Thomas E. Dooley, Viacom’s 30-year-old treasurer, to greet Mr. Redstone when he visited the Viacom office, the new boss w..>> view originalEstée Lauder Offers Downbeat View as Department Stores Struggle
The declining fortunes of U.S. department stores have Estée Lauder Cos. on the defensive. As one of the world’s biggest beauty brands, the maker of Clinique and MAC has reason to be worried: roughly 30% of its global sales come from department stores. Macy’s Inc., which recently disclosed it will close 100 stores by early next year, is Estée Lauder’s biggest customer accounting for roughly 9% of its annual revenue. Chief...>> view originalLyft Is Seeking a Buyer, but Apple, Uber, GM and Others Aren't Interested
The company, which is the second-largest ride-hailing firm in the United States, has apparently approached Apple, Amazon, General Motors, Google, Uber, and Didi Chuxing concerning a potential sale, “sources familiar with the situation” told The New York Times (via AppleInsider). But, despite all that searching, the company was apparently unable to find a buyer. Lyft’s discussions were most serious with G.M., which is one of the ride-hailing company’s largest investors. Still, G.M. never made a..>> view originalMorgan Stanley accused in lawsuit of mismanaging its 401(k) retirement savings plan
Even Wall Street workers are unhappy with how their retirement plans are run. A participant in Morgan Stanley's 401(k) plan filed a lawsuit Friday in U.S. District Court in New York alleging that it offers investment options that have too-high fees and poor track records, including some mutual funds run by Morgan Stanley itself. The suit accuses the $8 billion plan of causing "hundreds of millions of dollars" in losses for its roughly 60,000 participants. Morgan Stanley declined to com..>> view originalStock rotation to continue as Fed seen open to 2016 hike
By Rodrigo Campos | NEW YORK NEW YORK The rotation to cyclical sectors of the S&P 500 and away from defensive stocks could continue next week if Federal Reserve chair Janet Yellen strikes a tone more welcoming to an interest rate increase later this year.Fed speakers this week, including the influential New York Fed President William Dudley, seemed to blaze the trail for Yellen and her upcoming Friday speech in Jackson Hole, Wyoming as part of a global meeting of central bankers.Dudley said ..>> view originalWeek Ahead: Yellen, GDP, Durable Goods Reports Could Help Liven Things Up
Former freight railroad head to be Amtrak CEO
Posted: Saturday, August 20, 2016 12:00 am Former freight railroad head to be Amtrak CEO By Wire Reports TulsaWorld.com | 0 comments WASHINGTON — The former head of the Norfolk Southern freight railroad, Charles “Wick” Moorman, has been tapped to be president and CEO of Amtrak, the nation’s passenger railroad, Amtrak officials said Friday. Moorman’s ties to the freight rail industry should he..>> view originalTo Trump, Even Losing Is Winning
Photo Credit Sam Island AMAGANSETT, N.Y. — People run for the presidency for all sorts of reasons. But Donald J. Trump may be the first to run because he sees a presidential campaign as the best way to attract attention to himself. There seems to be no other driving passion in him, certainly not the passion to govern.He isn’t an ideologue like Ted Cruz, an opportunist like Marco Rubio, a movement builder like Bernie Sanders, a political legatee like Jeb Bush or a policy..>> view originalLondon's mayor says overnight subway will boost economy
Passengers pass an advert for the night tube on a platform at Oxford Circus underground (tube) station, in London, Wednesday August 17, 2016. The London underground launches a 'Night Tube' service for the London mass transport system on Friday August 19. (Dominic Lipinski / PA via AP) syndication.ap.org LONDON (AP) — London bills itself as a global city, the world's biggest financial center and a creative hub to rival New York. Until now, though, getting home after midn..>> view originalThe wealthy have nearly healed from recession. The poor haven't even started.
The Great Recession and the subsequent recovery from it have deepened the wedge between the very wealthy and everyone else in America, plunging the poor deeper into debt and wiping out two-fifths of the wealth held by families in the heart of the middle class. The wealthiest Americans, meanwhile, appear close to regaining all their losses over the same period, according to a new analysis released Thursday by the Congressional Budget Office.The analysis shows the wealthiest 10 percent of America..>> view original
Monday, August 29, 2016
At Viacom, Now Comes the Hard Part and other top stories.
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