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Uber Freight to investors: 'There's a very clear path to profitability'
Uber Freight has succeeded in modernizing trucking, but traditional companies are quickly adjusting to the competition. …read more […]
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Continental Resources founder Hamm to step down as CEO
Legendary U.S. oilman Harold Hamm, who once called the Organization of the Petroleum Exporting Countries a “toothless tiger,” will step down as chief executive of Continental Resources and become its executive chairman, the company said on Wednesday.
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Judge Blocks Trump Plan to Divert $3.6 Billion in Military Funds to Border Wall
A federal judge in Texas on Tuesday blocked the Trump administration’s plan to divert $3.6 billion in military funds toward construction of barriers along the border with Mexico.District Court Judge David Briones ruled that the administration’s move to use a national emergency declaration to redirect money appropriated by Congress for military construction was unlawful and issued a permanent nationwide injunction prohibiting use of the funds for border barriers.The lawsuit was brought by El Paso County, Texas, and Border Network for Human Rights.The Trump administration is expected to appeal the decision, but the ruling represents a setback for the president, who …read more […]
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UPDATE 3-U.S. House approves Space Force, family leave in $738 bln defense bill
The U.S. House of Representatives approved on Wednesday a $738 billion defense policy bill providing the first paid family leave for all federal workers and the creation of a Space Force, a top military priority for President Donald Trump. The Democratic-controlled chamber voted by 377-48, easily sending the conference report on the National Defense Authorization Act, or NDAA, to the Republican-controlled Senate, which is expected to pass it by the end of next week. Trump said he would sign the bill as soon as it passes. …read more […]
Business News
Mexican businesses focus on labor provisions as they pore over USMCA trade deal text
Mexican business leaders on Wednesday began poring over texts of a new stricter trade deal with the United States and Canada, looking for details of how more intrusive enforcement of labor rules in Mexico would affect their operations.
Business News
Factbox: How the North American trade deal will affect labor, environment, drugs
New amendments to the U.S.-Mexico-Canada trade agreement (USMCA) focus heavily on stronger labor enforcement, outlining a detailed process to address any allegations that Mexican factories are violating workers’ rights.
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Andrew Left Sees Peloton Shares Dropping to $5 in 2020
Dec.11 — Peloton shares declined as much a 7.6% after Citron Research said it sees the stock falling to $5 per share in 2020. Citron Research Founder Andrew Left appears on “Bloomberg Technology.” …read more […]
Business News
Fed keeps rates on hold, points to ‘favorable’ economic outlook next year
The U.S. Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs will not change anytime soon, with moderate economic growth and historically low unemployment expected to persist through the 2020 presidential election.
Business News
Home Depot says peak investments to pressure 2020 margins
Home Depot Inc , the No. 1 U.S. home improvement chain, on Wednesday forecast 2020 sales below Wall Street expectations and said major investments in its online overhaul program would pressure margins next year.
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Al Gore Buys 2 Stocks, Cuts Nvidia in 3rd Quarter
Generation Investment Management invests in cloud communications and tourism Continue reading… …read more […]
Business News
Fiat Chrysler’s UAW members ratify new four-year contract
The United Auto Workers (UAW) union said on Wednesday that rank-and-file members at Fiat Chrysler Automobiles NV have voted in favor of a new four-year labor contract with the automaker, helping the Italian-American firm avoid a strike as it works to merge with France’s Groupe PSA .
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UPDATE 1-Continental Resources says founder Hamm to step down as CEO
Legendary U.S. oilman Harold Hamm, who once called the Organization of the Petroleum Exporting Countries a “toothless tiger,” will step down as chief executive of Continental Resources and take a board role, the company said on Wednesday. Hamm will be replaced by William Berry, a former ConocoPhillips executive and Continental board member, as of Jan. 1, and become executive chairman. Shares of Continental closed at $33.30 on Wednesday, up a fraction prior to the announcement. …read more […]
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Antitrust Angst: T-Mobile and Sprint Head to Court Over Merger
Dec.11 — Kevin Arquit, Kasowitz Benson Torres partner and Bloomberg Intelligence’s Jennifer Rie discuss the latest in the T-mobile, Sprint merger. They speak with Bloomberg’s David Westin on “Balance of Power.” …read more […]
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Lululemon down after hours following Q3 results
Despite beating revenue and earnings expectations for Q3, Lululemon stock is down in after hours trading. …read more […]
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Continental Resources says founder Hamm to step down as CEO
Hamm will be replaced by William Berry, a former ConocoPhillips executive and Continental board member, as of Jan. 1, and become executive chairman. Hamm was an informal campaign adviser to U.S. President Donald Trump in 2016 and was considered for a U.S. cabinet post. Shares of Continental closed at $33.30 on Wednesday, up a fraction prior to the announcement. …read more […]