Have tech companies gotten so big that it’s bad for the economy? Senator Elizabeth Warren says so. She’s proposing to break up not one, but several tech giants, including Amazon, Apple, Facebook and Google. She says they shouldn’t be allowed to both run distributor platforms and compete on them. It’s like being an umpire and
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Levi Strauss priced its initial public offering at $17 per share, the company announced late Wednesday. That number comes in higher than the expected range, valuing the iconic denim company at about $6.6 billion and bringing its total raise to about $623 million. The company was expected to price its offering of about 36.7 million
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Chinese streaming firm Tencent Music Entertainment delivered its first earnings report as a public company, meeting market expectations but exposing soaring licence and content production costs which pulled its shares down 6 percent. The U.S.-listed company’s shares have gained about 43 percent since debuting in December, but its results published on Tuesday highlight the need
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The college admissions scandal is coming at a bad time for higher education, which has already seen its reputation tarnished by other issues like student debt, said Sheila Bair, former president of Washington College. “I really hope colleges understand that their reputations are really on the line here. The public is losing faith and they
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The University of Southern California has blocked students who were linked to the admissions scandal from registering for classes and getting their transcripts. Among the students enrolled in USC are the daughters of “Full House” actress Lori Loughlin and her husband, designer Mossimo Giannulli, whom federal prosecutors charged with paying $500,000 in bribes to get
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Amazon‘s hunt for another business to drive growth even higher may have its answer in Amazon Business, a note from Bank of America on Tuesday said. Amazon Business represents Jeff Bezos’ company expanding into the market of business-to-business (B2B) e-commerce. The Amazon unit was e-branded from “Amazon Supply” seven years ago. Amazon Business “combines positive
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Check out the companies making headlines after the bell: Shares of Tilray were up more than 2 percent in extended trading Monday following the release of the Canadian cannabis company’s fourth-quarter earnings. Tilray reported a loss of 33 cents on revenue of $15.5 million. Wall Street estimated revenue of $14.1 million. Brendan Kennedy, President and
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Boeing CEO Dennis Muilenburg restated the aircraft maker’s commitment to safety on Monday night, and he again pledged to provide a software update and training to pilots related to the 737 Max airliner. The executive said that Boeing will maintain its “relentless commitment to make safe airplanes even safer.” His comments come as aviation authorities
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Reports of Americans being unprepared for retirement have become so widespread that it no longer seems to elicit any emotional response. The Employee Benefit Research Institute found that 40.6 percent of all U.S. households (where the head of the household is between ages 35 and 64) are projected to run out of money in retirement.
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