New York Posts – Business

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  • The strategy Trump must take to ween our country off gasoline
    by John Crudele on January 23, 2018 at 5:32 am

    Drill everywhere! That’s what I suggested years ago in a column that proposed a solution to our reliance on imported oil — and the habit we have of getting into wars in the Middle East. But — and this is a big but — I also recommended that the US simultaneously vow to end our... […]

  • Netflix beats growth estimates despite price increase
    by Alexandra Steigrad on January 23, 2018 at 4:39 am

    Netflix blew past fourth-quarter growth estimates — signing up 8.3 million new subscribers in the period, despite a price increase. The solid performance cheered investors — who pushed shares of the video streamer up more than 8 percent in after-hours trading, to over $246, a new high. The spike pushed the market cap of the... […]

  • Ackman’s hedge fund lays off staff, including his driver
    by Carleton English on January 23, 2018 at 1:49 am

    Hedge fund mogul Bill Ackman is starting the new year with a shiny new MetroCard — and a banged-up staff. Ackman’s embattled Pershing Square hedge fund laid off 18 percent of its staff on Friday — a total of 10 pink slips that brought head count down to 46, according to a source familiar with... […]

  • L’Oreal’s hijab-wearing hair model pulls out after ‘anti-Israel’ tweets surface
    by Leah Bitsky on January 23, 2018 at 12:35 am

    A beauty blogger who recently signed on to be L’Oreal Paris’ first hijab-wearing hair model has backed out of the progressive campaign following backlash over old tweets, according to reports. Amena Khan announced her departure after Israel-bashing tweets from nearly five years ago surfaced, the BBC’s Newsbeat reported. “I deeply regret the content of the... […]

  • Judge rejects Uber’s proposed $3M settlement with NY drivers
    by Reuters on January 22, 2018 at 8:24 pm

    A federal judge refused to grant preliminary approval for Uber Technologies’ proposed $3 million class-action settlement with 2,421 New York drivers who accused the ride-sharing company of retaining excessive fees from their fares. In a decision on Friday, US District Judge Nicholas Garaufis in Brooklyn objected to a provision allowing the revival of breach-of-contract claims... […]

  • New Viacom CEO made $70M less than predecessor
    by Alexandra Steigrad on January 22, 2018 at 8:15 pm

    Viacom’s President and Chief Executive Officer Bob Bakish earned nearly $70 million less last year than his predecessor, Philippe Dauman, made in 2016, according to a filing with the Securities & Exchange Commission. Bakish, who completed his first full year in the top job at Viacom, still can’t cry pauper. He reeled in $20.3 million... […]

  • Third Point’s Loeb calling for more changes at Nestle
    by Carleton English on January 22, 2018 at 8:00 pm

    Billionaire investor Dan Loeb is pushing Nestle to speed up its turnaround plan. In the seven months since Loeb’s Third Point hedge fund announced a $3.5 billion stake in the packaged goods company, several changes have already been made — but the hedgie would like to see the pace quickened. “We hope now that [CEO... […]

  • 50 Cent harasses Altice truck over Starz impasse
    by Richard Morgan on January 22, 2018 at 7:24 pm

    50 Cent is taking the carriage dispute between Starz and Altice to the streets — literally. The executive producer of Starz hit “Power” recently found himself idling in his Bentley behind an Optimum service truck. 50 Cent, whose real name is Curtis Jackson, makes the connection that the truck’s owner is “f—ing with my series”... […]

  • Feds charge six ex-KPMG accountants with conspiracy
    by Kevin Dugan on January 22, 2018 at 7:21 pm

    One of the biggest accounting firms on Wall Street had six of its former executives charged with conspiracy and other criminal and civil charges by federal prosecutors on Monday for stealing secret government lists that detailed which of its major clients, including banks, were going to get scrutinized by regulators. Executives at KPMG, one of... […]

  • AIG to purchase rival reinsurer Validus for $5.6B
    by Reuters on January 22, 2018 at 4:42 pm

    American International Group on Monday said it would buy Validus Holdings for $5.56 billion in cash to strengthen its reinsurance business, the company’s first deal under Chief Executive Brian Duperreault. The acquisition snaps a long period of retrenchment for AIG, which was brought to the brink of collapse during the 2008 financial crisis, and comes... […]

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