Month: February 2019

Facebook is keeping its cryptocurrency plans under wraps, even when it comes to other company employees. The social media giant silos off its secretive cryptocurrency team in an office that requires entirely different key-card access so that other Facebook employees can’t enter, according to a New York Times report, citing two Facebook employees. Facebook’s blockchain
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Despite gains in income and wealth for black families in America, white families often have a net worth up to 10 times higher. Discriminatory financial practices such as redlining or credit discrimination have increased the wealth gap and held black families back from being able to create generational wealth. Times are changing. Black millennials are
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Lifestyle authority and television personality Martha Stewart has entered a business partnership with Canopy Growth, one of the globe’s largest marijuana and hemp producers, to develop hemp-derived CBD products. Stewart will play an advisory role at Canopy and will first assist in developing a broad new line of animal health products, the company said Thursday.
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Anheuser-Busch InBev, the world’s largest brewer, forecast strong revenue and profit growth in 2019, with a focus on increasing beer sales rather than just prices, after higher- than-expected earnings at the end of 2018. The brewer of Budweiser, Corona, and Stella Artois is seeking to draw developed world consumers back to beer from wine and
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HP Inc. reported quarterly revenue that fell short of Wall Street estimates on Wednesday, due to weaker-than-expected sales in both its personal computer and printing businesses, sending shares down 12 percent after hours. HP is the hardware business of the former Hewlett-Packard Co., which split in 2015. Sales in the personal systems business, which accounts
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Fitbit shares plunged in extended trading after the maker of wearable fitness devices provided a weaker-than-expected forecast. The shares sank another 12 percent after hours to $6.08. Fitbit said sales in the first quarter will increase as much as 8 percent from a year earlier to between $250 million and $268 million. Analysts were expecting
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President Donald Trump’s financial statements are here — and they likely only tell part of the story on his wealth. Michael Cohen, the president’s former personal attorney, testified before the House Oversight Committee on Wednesday, and provided the committee with a number of documents, among which he said were copies of Trump’s financial statements for
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Off-price apparel retailer TJX reported better-than-expected quarterly same-store sales on Wednesday, as steep discounts drove more shoppers to its T.J. Maxx and Marshalls stores during the holiday season. Shares of the Framingham, Massachusetts-based company rose 2 percent before the bell. TJX has opened more stores and largely depended on its deep in-store discounts to drive
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Elon Musk‘s renewed feud with the Securities and Exchange Commission after another errant tweet raises concern over the Tesla board’s ability to control the electric car maker’s strong-willed and unpredictable CEO. “His board has to act,” said Charles Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware. “They
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