Hackers stole several hundred million dollar’s worth of one lesser-known cryptocurrency from a major Japanese exchange Friday. Coincheck said that around 523 million of the exchange’s NEM coins were sent to another account around 3 a.m. local time (1 p.m. Thursday, ET), according to a Google translate of a Japanese transcript of the Friday press […]
Read moreFormer Treasury Secretary and Obama administration economic advisor Larry Summers said Friday that recent employee bonuses are stunts and not reflective of long-term hopes for prosperity that tax cuts are supposed to bring. “I think it’s a gimmick,” Summers told CNBC’s “Squawk Alley.” “I think in many cases the firms have to raise wages because […]
Read more“One or a few legitimate” cryptocurrencies are coming, but bitcoin is not one of them, according to Starbucks‘ executive chairman and former CEO, Howard Schultz. “I don’t believe that bitcoin is going to be a currency today or in the future,” Schultz said, during a post-earnings conference call Thursday after the closing bell on Wall […]
Read moreThe nation’s battle against this year’s nasty influenza epidemic rages on as government health agencies and drug companies work on research to develop a universal flu vaccine that can protect against multiple stains of the flu. The flu season in the U.S. is now in full swing. The CDC’s latest weekly “FluView Report,” for the […]
Read moreCurrency, United States Finance
Saudi Arabia set to announce major contracts for new cross-country railway
The transport minister of Saudi Arabia said Friday that opportunities are coming up for international investment in the country’s rail infrastructure. “We have long-term public/private partnership (PPP) concessions that are in play. We are looking at restructuring some of our airports as well, allowing them to be privatized and then the big one is railroading” […]
Read moreYouTube star Logan Paul is back after a three-week break from the streaming service, officially launching his redemption tour with a video on suicide prevention in which he pledges to donate $1 million to organizations on the front lines. “It’s time to start a new chapter in my life as I continue to educate both […]
Read moreStaples’ Chief Executive Officer Shira Goodman is departing the company, The Wall Street Journal reported Friday morning, based on conversations with sources familiar with the matter. Goodman began leading the office supply retailer in 2016, shortly after Staples failed to merge with Office Depot. She previously had served as president of Staples’ North American operations […]
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THE “Miracle on the Hudson”—the successful ditching of a US Airways jetliner into New York’s Hudson River in 2009 after it hit a flock of geese—taught frequent flyers two things. First, it really is possible to land an aircraft on water, just as is shown on seat-back safety cards. Second, and more worryingly, the incident […]
Read moreThe best hedge fund managers are always looking out for potential downside when they put together a portfolio. Third Point’s Dan Loeb, who nearly doubled the S&P 500′s return for more than two decades, shared his key concerns for the market in a note to clients Monday. “While we remain optimistic about the trajectory of […]
Read moreThe relentless gush of cash into the stock market is sending a powerful “sell” signal, according to a Bank of America Merrill Lynch gauge that has been a reliable indicator in the past. Investors poured $33.2 billion into stock-based funds through the week ended Wednesday, BofAML said in a report. That’s a record both for […]
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