New York Posts – Business

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  • Einhorn thinks Puerto Rican debt will cause insurer to sink
    by Carleton English on April 24, 2018 at 2:48 am

    David Einhorn is betting big that Puerto Rican debt will cause bond-insurer Assured Guaranty to crumble. “You can’t get blood from a stone, Puerto Rico can only support so much debt,” Einhorn said, meaning that bond insurers, such as Assured Guaranty, would have to step in. Einhorn’s analysis showed that Assured Guaranty could face $1.5... […]

  • Google parent’s revenues beat projections, but investors wary
    by Nicolas Vega on April 24, 2018 at 2:18 am

    Google parent company Alphabet on Monday delivered another stellar performance, reporting first-quarter profit and revenue that beat forecasts — as its ad business continued to hum along. The tech titan’s $31.15 billion of revenue beat Wall Street’s $30.29 billion estimate — a 22 percent year-on-year improvement. However, operating income margins dropped to 22 percent from... […]

  • Crooks are boosting their online fraud game
    by John Crudele on April 24, 2018 at 2:09 am

    Online shopping fraud is on the rise. And the pretty good news is that New York is only the ninth-riskiest state when it comes to this sort of criminal behavior. Experian, a consumer credit reporting agency, said online fraud increased 30 percent in 2017. And 53 percent of those fraudulent transactions took place through an... […]

  • Why Toys ‘R’ Us’ HQ is too close for comfort for Bed Bath & Beyond workers
    by John Crudele on April 24, 2018 at 2:05 am

    Toys ‘R’ Us is headquartered in Wayne, NJ. Bed Bath & Beyond is in Union, NJ. That’s a distance of 21 miles. And that is a little too close for employees of the struggling home goods chain, who are Bed Bath and Beyond themselves with worry that their company will look to replace them with... […]

  • Top SocGen trader exits after less than 6 months on job
    by Kevin Dugan on April 23, 2018 at 10:30 pm

    Well, that didn’t take long. Mark Bamber, a top options trader at Société Générale, left his job earlier this month after less than six months at the French bank — part of a larger exodus at the company’s Manhattan office, The Post has learned. Bamber, after nearly 12 years at Deutsche Bank, joined SocGen in... […]

  • Eddie Lampert wants to buy Kenmore’s brand
    by Lisa Fickenscher on April 23, 2018 at 9:09 pm

    Eddie Lampert is looking to grab the last of the family jewels at Sears Holdings. The hedge-fund billionaire, who is chief executive of the company that owns Sears and Kmart, disclosed in a Friday letter to its board that he’s looking to buy the Kenmore appliance brand. Lampert — who has spent the past decade... […]

  • AT&T, Verizon investigated for anti-trust violations
    by BGR on April 23, 2018 at 7:51 pm

    According to a New York Times article that landed Friday afternoon, the Department of Justice has opened an antitrust investigation into collusion between Verizon and AT&T’s wireless arms. According to the report, investigators suspect that the two companies worked together to make it harder for consumers to switch between networks, primarily by thwarting the adoption of electronic... […]

  • Netflix CEO’s pay soars amid bonus-rigging lawsuit
    by Alexandra Steigrad on April 23, 2018 at 7:23 pm

    Netflix CEO Reed Hastings’ pay soared 5 percent to $24.4 million last year, even as the company faces a class-action lawsuit that claims the company has “rigged” bonuses for top execs. The video-streaming giant said separately on Monday it plans to offer $1.5 billion in junk bonds to finance its plans to acquire and develop... […]

  • Shares of Box get a boost from Silicon Valley investor
    by Carleton English on April 23, 2018 at 6:51 pm

    Shares of cloud-storage company Box surged as much as 15 percent on Monday after a Silicon Valley investor touted the company’s prospects at a hedge-fund shindig. “Companies we all know of, trust and respect use Box everyday,” Palihapitiya told the crowd at the Sohn Investment Conference in New York, noting that nearly 70 percent of... […]

  • Carl Icahn averts a looming board battle at Newell Brands
    by Carleton English on April 23, 2018 at 3:58 pm

    The battle over board seats at Newell Brands has come to a quicker-than-expected end. The Hoboken, NJ-based maker of Rubbermaid containers and Rawlings baseball gloves said Monday it will avert a looming proxy fight from activist investor Jeffrey Smith, who had continued to prod its board despite the company’s recent truce with Carl Icahn. Newell... […]

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