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Boeing CEO offers to forgo all 2019 bonuses

Boeing CEO Dennis Muilenburg is under scrutiny as more questions linger after the two deadly crashes involving 737 Max jets. However, the executive has offered to forgo all bonuses this year. Yahoo Finance’s Zack Guzman and Heidi Chung discuss with Radio Show Host Ben Kissel. …read more […]

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`I Hated Commissions,' Says Charles Schwab After Ending Them

(Bloomberg) — Charles Schwab, founder of the giant discount brokerage, said he has always hated charging commissions and he’s glad to be “out of the business.”“I hated commissions,” Schwab, 82, said Tuesday at the Impact 2019 conference in San Diego. “I hated them then. I hate ’em now. I took ’em away.”Charles Schwab Corp. roiled the brokerage industry when it eliminated fees for U.S. stocks, exchange traded funds and options. The move escalated a long-simmering price war spurred by investors who have moved to the cheapest investment products.Also at the conference, Schwab Chief Executive Officer Walter Bettinger said the firm …read more […]

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UPDATE 1-Occidental Petroleum production will miss post-Anadarko merger target in 2020

Occidental Petroleum Corp on Tuesday said sharp reductions in capital spending next year will result in oil and gas production growth of just 2 percent, missing the target for 5% growth of the combined business with Anadarko Petroleum. Occidental plans to slash spending by 40% and cut back on production goals in order to meet dividend and debt payments, it disclosed Monday when it released third quarter financial results. It plans 2020 spending of about $5.4 billion and a 2021 budget of $6.6 billion, Chief Executive Officer Vicki Hollub said Tuesday on a call with analysts. …read more […]

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AT&T will pay $60 million over U.S. allegations it lied in 'unlimited data' pledge: government

AT&T will pay $60 million to resolve U.S. allegations it misled millions of smartphone customers by charging them for “unlimited” data plans but reducing data speeds if they used too much, the Federal Trade Commission (FTC) said on Wednesday. As part of the settlement of the 2014 complaint, AT&T is also prohibited from making any representation about the speed or amount of its mobile data, without also disclosing any material restrictions on the data. AT&T issued a brief statement acknowledging that it had reached a settlement with the FTC. …read more […]

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UPDATE 1-AT&T will pay $60 mln over U.S. allegations it lied in 'unlimited data' pledge -government

AT&T will pay $60 million to resolve U.S. allegations it misled millions of smartphone customers by charging them for “unlimited” data plans but reducing data speeds if they used too much, the Federal Trade Commission (FTC) said on Wednesday. As part of the settlement of the 2014 complaint, AT&T is also prohibited from making any representation about the speed or amount of its mobile data, without also disclosing any material restrictions on the data. AT&T issued a brief statement acknowledging that it had reached a settlement with the FTC. …read more […]

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Peloton feels the burn as post-IPO results point to more losses

Known for its on-demand workout programs on exercise bikes which allow riders to join virtually with other participants, the company in September was the latest in a run of startups to receive a subdued reception from stock market investors this year. Peloton, which posted a bigger-than-expected quarterly loss, said it expects to report an adjusted loss of between $150 million and $170 million before interest, tax, depreciation and amortization for 2020. “We are within striking distance of profitability,” Chief Executive John Foley said on a call with analysts on Tuesday. …read more […]