Business

Trump calls Federal Reserve ‘my biggest threat’

[ad_1] Image copyright Reuters Image caption Donald Trump named Jerome Powell to lead the Federal Reserve US President Donald Trump has escalated his war of words against America's central bank, calling the Federal Reserve his "biggest threat".The remarks, made in an interview with US media outlet Fox Business, follow the president's repeated criticism of the Fed for its decision to raise interest rates.Mr Trump is worried the moves will hurt
Business

What Is NPC, the Pro-Trump Internet’s New Favorite Insult?

[ad_1] Last week, a trolling campaign organized by right-wing internet users spilled over onto Twitter. The campaign, which was born in the fever swamps of 4chan and Reddit message boards, involved creating hundreds of fictional personas with gray cartoon avatars, known as NPCs. These accounts posed as liberal activists and were used to spread — among other things — false information about November’s midterm elections.Over the weekend, Twitter responded by suspending
Business

Are Investors Anxious? Just Look at BlackRock’s Results

[ad_1] Get the DealBook newsletter to make sense of major business and policy headlines — and the power-brokers who shape them.__________BlackRock, the world’s largest asset manager, reported a 27 percent increase in its earnings for the third quarter compared with a year ago. But the strong performance masked an increase in investor outflows, driven by growing fears of a stock market correction.During the third quarter, retail and institutional investors yanked
Business

Netflix surges on strong subscriber growth

[ad_1] Image copyright Getty Images Image caption Netflix chief executive Reed Hastings in 2016 Netflix shares jumped more than 10% in after-hours trade after the firm added more subscribers than forecast.The firm said it added nearly seven million members during the quarter, ending September with more than 137 million members world wide.It had told investors to expect growth of about five million.The strong growth followed an unusually weak second quarter
Business

Will Your Face Be Enough to Get You on a Plane?

[ad_1] Facial recognition may soon be coming to an airport security line near you. Earlier this week, the Transportation Security Administration released a 23-page report outlining changes it is proposing on how passengers are screened before boarding their flights. Key among those changes is the proposal that passports and other forms of identification will eventually be replaced by biometric technology.“With the threat to aviation evolving every day, developing the next
Business

Walmart rises despite lower profit forecast

[ad_1] Image copyright Getty Images Walmart is asking Wall Street to wait for profit growth as it battles to retain its place as the world's largest retailer.The US discount chain has been buying up smaller companies, investing in India and spending on new technology.But the investments come at a cost.On Tuesday, the firm warned that profits per share would decline slightly next year, largely because of losses at its Indian
Business

Goldman Sachs Needs to Sweat One Asset Much Harder: Its Staff

[ad_1] Get the DealBook newsletter to make sense of major business and policy headlines — and the power-brokers who shape them.__________David Solomon has a people problem that he needs to solve.He steps into his new role as chief executive at Goldman Sachs at a flattering moment. The Wall Street group reported a 21 percent increase in earnings for the third quarter of 2018. The investment bank that Mr. Solomon used
Business

Audi, Admitting to Role in Diesel-Cheating Scheme, Agrees to Pay Major Fine

[ad_1] Audi, the luxury car division of Volkswagen, has agreed to pay a substantial fine in Germany for its role in an emissions-cheating scandal that has become a serious threat to the country’s auto industry.The fine of 800 million euros, or about $930 million, will resolve civil claims against the company, but it does not affect a criminal investigation of Audi executives that resulted in the arrest of the former
Business

Unilad web publisher bought by LADbible

[ad_1] Image copyright Unilad The firm that owns viral news website Unilad, which went into administration earlier this month, has been bought by social media group LADbible.The sale of Bentley Harrington safeguards the jobs of more than 200 people working for the business.Bentley Harrington collapsed with debts of £6.5m, including owing £1.5m to UK tax authorities. The Unilad Facebook account has 39 million followers and posts viral videos and news
Business

Paul G. Allen, Microsoft’s Co-Founder, Is Dead at 65

[ad_1] [Read a review of “Idea Man.”]“They were bemoaning my recent lack of production and discussing how they might dilute my Microsoft equity by issuing options to themselves and other shareholders,” Mr. Allen wrote.But Mr. Allen held his ground and his shares.Mr. Gates said in a statement on Monday: “From our early days together at Lakeside School, through our partnership in the creation of Microsoft, to some of our joint