Business news

• Wells Fargo CEO John Stumpf quits, replaced by Tim Sloan

  12-10-2016 23:54 via news.yahoo.com
  
  Wells Fargo & Co's veteran chairman and chief executive officer, John Stumpf, is leaving the bank in the wake of a sales scandal and will be replaced as CEO by President and Chief Operating Officer Tim Sloan. The San Francisco-based bank said on Wednesday that Stumpf was retiring with immediate effect. It is splitting the role of chairman and CEO with Stephen Sanger, its lead director, becoming chairman.
  
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• 3D-printed earring baskets catch your falling AirPods

  12-10-2016 23:47 via cnet.com
  
  3D-print away fear of losing your pricey Apple AirPods with a pair of earrings that act like little catcher's mitts.
  
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• Pimco took part in Deutsche Bank bond offerings: source

  12-10-2016 23:41 via news.yahoo.com
  
  By Jennifer Ablan NEW YORK (Reuters) - Pacific Investment Management Co, which oversees more than $1.5 trillion in assets under management, took part in Tuesday's $1.5 billion Deutsche Bank AG bond offering as well as a $3 billion bond deal on Friday, a source familiar with the matter told Reuters on Wednesday. Pimco, a unit of financial services provider Allianz SE and one of the largest asset managers in the world, was said to be a major investor in both bond offerings, the source added. A spo
  
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• CEO of battered Wells Fargo resigns amid scandal over bank's sales practices

  12-10-2016 23:34 via cbc.ca
  
  Wells Fargo's embattled CEO John Stumpf has resigned, effective immediately, as the second-largest U.S. bank is roiled by a scandal over its sales practices.
  
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• CEO of battered Wells Fargo resigns

  12-10-2016 23:34 via cbc.ca
  
  Wells Fargo's embattled CEO John Stumpf has resigned, effective immediately, as the second-largest U.S. bank is roiled by a scandal over its sales practices.
  
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• Samsung Galaxy S8 might have a 4K display and some powerful AI

  12-10-2016 23:15 via cnet.com
  
  The latest leaks suggests the alleged Galaxy S8 could come with Viv's AI assistant, and possibly a 4K display.
  
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• Tesco pulls Unilever goods from website over price row

  12-10-2016 23:03 via news.yahoo.com
  
  Tesco , Britain's biggest grocery chain, has pulled dozens of Unilever products from its website after a disagreement over prices in the wake of a partly Brexit-driven decline in the British pound. The dispute between two of Britain's best-known companies shows how the Brexit decision has exacerbated tensions between suppliers and retailers, who are battling for profits as consumers are increasingly savvy about shopping. Unilever has been trying to raise prices across a wide range of goods by ab
  
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• Filmmaker urges women to start a business

  12-10-2016 23:03 via cnet.com
  
  Charu Sharma's documentary "Go Against the Flow" makes the case for more women founders.
  
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• Facebook, Instagram, Twitter block social media tool Geofeedia over protest surveillance

  12-10-2016 23:02 via cbc.ca
  
  The American Civil Liberties Union is sounding the alarm on how police monitor social media, particularly during protests, and the Canadian chapter has similar concerns.
  
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• Navigation system goes beyond GPS via Wi-Fi and other signals

  12-10-2016 22:59 via cnet.com
  
  The setup, for self-driving cars and drones among other things, takes advantage of the everyday signals and transmissions that already surround us.
  
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• See a hydraulic press crush a disco ball

  12-10-2016 22:37 via cnet.com
  
  Death to disco! Lava lamps, plasma lamps and disco balls get squashed by a hydraulic press in this entertaining video.
  
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• Wall Street stocks close slightly higher after Fed minutes

  12-10-2016 22:36 via news.yahoo.com
  
  (Reuters) - The S&P 500 and the Dow Jones industrial average indexes ended Wednesday's session with small gains as expectations for timing on a rate hike were largely unchanged after U.S. Federal Reserve minutes and investors waited on earnings reports.
  
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• Creditors vs. cleanup: Court case that rocked Alberta's oilpatch being reconsidered

  12-10-2016 22:31 via cbc.ca
  
  Redwater Energy Corp. — the tiny energy company whose bankruptcy made huge waves in the oilpatch — is back in the spotlight as the Alberta Energy Regulator appeals a decision made by a lower court that gave creditors priority over the cleanup of oil wells.
  
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• RoboCop suit, Wolverine's claws up for grabs in sci-fi auction

  12-10-2016 22:27 via cnet.com
  
  Special effects legend Phil Tippett auctions off his collection of costumes, props and more from movies like "Star Wars: A New Hope" and "X-Men:Origins."
  
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• Student seeks internship with shot-for-shot 'Tonight Show' intro

  12-10-2016 22:20 via cnet.com
  
  Hey, Jimmy Fallon, you should hire Nick Garrett on the strength of his fantastic opening-credits remake. He'll make a great intern.
  
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• Wall Street ends little changed in wake of Fed minutes

  12-10-2016 22:06 via news.yahoo.com
  
  NEW YORK (Reuters) - The S&P 500 and the Dow Jones industrial average indexes ended Wednesday's session with slight gains as expectations for timing on a rate hike timing were largely unchanged after minutes from the most recent meeting of the U.S. Federal Reserve.
  
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• Snapchat opts for Morgan Stanley, Goldman Sachs to lead IPO: Bloomberg

  12-10-2016 21:48 via news.yahoo.com
  
  (Reuters) - Photo-sharing app Snapchat has chosen Morgan Stanley and Goldman Sachs Group Inc as lead bankers for its initial public offering, which could happen as soon as March, Bloomberg reported, citing people familiar with the matter. The banks were notified of their role early this week, according to the report. (http://bloom.bg/2dSoglp) Snapchat's parent is working on an initial public offering that could value the company at $25 billion or more, the Wall Street Journal reported last week.
  
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• ​Obama: Don't let AI impoverish American citizens

  12-10-2016 21:48 via cnet.com
  
  Artificial intelligence could help a few financially while leaving most of us jobless, the president warns. How about a "universal income" to redistribute wealth?
  
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• Global shares remain lower, dollar up after Fed minutes

  12-10-2016 21:36 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - Global equity markets remained slightly lower and the dollar a bit higher on Wednesday after minutes from a meeting of Federal Reserve policymakers last month indicated raising U.S. interest rates was warranted if the economy continued to strengthen.
  
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• Alibaba, in nod to VR shopping, lets you pay with a head-tilt

  12-10-2016 21:33 via cnet.com
  
  Browsing in a Chinese virtual-reality mall? Keep your chin up -- or else.
  
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• NBA player defaces Great Wall Of China, posts pic to social media

  12-10-2016 21:30 via cnet.com
  
  Technically Incorrect: The Houston Rockets' Bobby Brown thinks China's Great Wall needs his autograph. China doesn't agree.
  
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• Pipeline companies review security after 'reckless' protest

  12-10-2016 21:28 via cbc.ca
  
  Kinder Morgan Canada will review its security measures after a co-ordinated protest in the U.S. attempted to shut down several oil-export pipelines. And the company's president says he expects further attacks if the Trans Mountain pipeline expansion from Edmonton to the West Coast is approved.
  
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• Meet Impossible Foods' lab-grown veggie burger. It bleeds

  12-10-2016 21:19 via cnet.com
  
  As the food-tech startup announces an expansion into West Coast restaurants, we get to taste test the Impossible Burger and learn about its secret sauce.
  
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• Take a tour of a hedgehog cafe in Japan

  12-10-2016 21:02 via cnet.com
  
  There are rabbit, owl and cat cafes, but what about spending some quality time with adorable hedgehogs while sipping on tea?
  
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• Sprayscape: The wrong way to capture a VR environment

  12-10-2016 20:59 via cnet.com
  
  The new Sprayscape app promises a quick shareable capture of VR environments. But the results are kind of blah.
  
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• 79 percent say that technology improves their restaurant experience

  12-10-2016 20:49 via cnet.com
  
  Technically Incorrect: A new study says tech helps dining. Of course, taking a picture of your meal and posting it to Instagram improves the flavor.
  
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• Putin says Rosneft buy of Bashneft gives impetus to privatization

  12-10-2016 20:48 via news.yahoo.com
  
  By Oksana Kobzeva and Darya Korsunskaya MOSCOW (Reuters) - The Russian government's sale of a controlling stake in mid-sized oil firm Bashneft to the country's largest oil producer Rosneft should give momentum to Russia's privatization drive, President Vladimir Putin said on Wednesday. The Economy Ministry said that the government had completed the sale of the Bashneft stake to Kremlin-owned Rosneft for 329.69 billion roubles ($5.30 billion). Rosneft bought a 50.08 percent stake in Bashneft, Rus
  
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• Google, Facebook team on undersea cable from LA to Hong Kong

  12-10-2016 20:46 via cnet.com
  
  The Pacific Light Cable Network will allow for a whole lot of speedy data transfers.
  
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• How to spin up OrangeHRM as a virtual machine in less than 5 minutes

  12-10-2016 20:42 via techrepublic.com
  
  In need of an HRM solution that won't set you back hours of installation and setup time? The TurnKey Linux OrangeHRM virtual appliance might be the right tool for you.
  
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• BNP Paribas to cut jobs, branches in Italy: sources

  12-10-2016 20:33 via news.yahoo.com
  
  BNP Paribas plans to cut 5 percent of the workforce at its BNL Italian business and close more than 10 percent of its branches there, two union sources said, as the French bank tries to return the division to profit. BNP Paribas is due to present a new three-year strategy early in 2017 for its main European markets of France, Italy, Belgium and Germany, where in line with peers it has already started to cut costs. BNL would cut 700 jobs and close 100 branches under its new business plan to 2020,
  
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• Samsung's crazy return kit for Galaxy Note 7 may scare you

  12-10-2016 20:28 via cnet.com
  
  How dangerous are the defective batteries in the Galaxy Note 7? It seems the return box is fireproof and can be shipped only by truck.
  
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• Humans, Your Organic Forms Will Soon Be Obsolete

  12-10-2016 20:26 via feeds.foxbusiness.com
  
  By "soon," expert futurist Robin Hanson means in about 100 years, give or take. But on the scale of history, thats coming up fast.
  
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• What the History of Humanity's 3 Great Accelerations Suggests About the Next One

  12-10-2016 20:22 via feeds.foxbusiness.com
  
  For centuries at a time, civilization advances at a steady pace. But when we put on bursts of speed, we never look back.
  
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• Wall Street rises ahead of Fed minutes

  12-10-2016 20:22 via news.yahoo.com
  
  (Reuters) - The S&P 500 and the Dow Jones industrial average inched up on Wednesday as financial stocks rose ahead of the release of the minutes of Federal Reserve's September policy meeting.
  
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• Fed policymakers closer to rate hike, but inflation doubts remain: minutes

  12-10-2016 20:18 via news.yahoo.com
  
  Several voting Federal Reserve policymakers judged a rate hike would be warranted "relatively soon" if the U.S. economy continued to strengthen, according to the minutes of the Fed's September policy meeting released on Wednesday. The minutes of the Sept. 20-21 meeting, at which the U.S. central bank held rates steady, also showed the depth of the divide at the Fed over timing. "Several members judged that it would be appropriate to increase the target range for the federal funds rate relatively
  
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• 100 Years From Now: An Expert Speculates

  12-10-2016 20:18 via feeds.foxbusiness.com
  
  Author, polymath, and expert futurist Robin Hanson offers his educated expectations of the path ahead.
  
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• The real reason companies don't take security seriously: Their money isn't on the line

  12-10-2016 20:15 via techrepublic.com
  
  Today a company's investors don't feel the pain of security breaches, but customers do. In order for security to improve, that needs to change.
  
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• Skydiver loses shoe, catches shoe, puts on shoe in mid-flight

  12-10-2016 20:15 via cnet.com
  
  A wayward shoe performs some free-falling acrobatics as the skydiver who lost the footwear chases it down mid-air.
  
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• Mark Your Calendar: Tesla and SolarCity to Unveil New Products

  12-10-2016 20:09 via feeds.foxbusiness.com
  
  Tesla wants to give investors an early peek at what a merged Tesla and SolarCity can bring to market.
  
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• Does Accelerating Technology Have to Create Dystopia?

  12-10-2016 20:08 via feeds.foxbusiness.com
  
  Author, polymath, and expert futurist Robin Hanson's new book predicting our robot-powered future strikes some as fairly grim.
  
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• WikiLeaks emails show Clinton logo was inspired by Apple

  12-10-2016 20:07 via cnet.com
  
  Hillary Clinton's "window logo" was influenced by Apple's old rainbow mark, according to emails posted by WikiLeaks from the account of Clinton's aide John Podesta.
  
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• Dave & Buster's Stock Wants to Play Again

  12-10-2016 20:07 via feeds.foxbusiness.com
  
  Wells Fargo initiates coverage of the entertainment and dining company with a bullish rating after the stock's rough September.
  
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• Fed saw no-hike decision in September as 'close call'

  12-10-2016 20:06 via feeds.foxbusiness.com
  
  Federal Reserve officials last month kept a key interest rate unchanged but saw the decision as a "close call." Many believed that the case for a rate hike had strengthened in recent months.
  
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• 3 Good Dividend Stocks for a Rock-Solid Portfolio

  12-10-2016 20:02 via feeds.foxbusiness.com
  
  These stocks have what it takes to make income investors happy.
  
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• Fed Minutes: Close to a Rate Hike, But Inflation Doubts Persist

  12-10-2016 20:00 via feeds.foxbusiness.com
  
  Several voting Federal Reserve policymakers judged a rate hike would be warranted "relatively soon" if the U.S. economy continued to strengthen, according to the minutes of the Fed's September policy meeting released on Wednesday.
  
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• Security revenues to pass $100B by 2020, says new report

  12-10-2016 19:58 via techrepublic.com
  
  According to IDC's new Worldwide Semiannual Security Spending Guide, revenues from from security products will grow at twice the rate of traditional IT spending growth.
  
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• Witness a gorgeous HD Earthrise as seen from the moon

  12-10-2016 19:48 via cnet.com
  
  Transport yourself to the moon with high-def videos showing the beauty of an Earthrise and Earthset as seen from lunar orbit.
  
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• Ohio votes early as Trump, Clinton battle on

  12-10-2016 19:44 via cnet.com
  
  Social Cues: Meanwhile, WikiLeaks and a Miss Teen USA scandal continue to affect the election.
  
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• Air France-KLM CEO targets high costs, lack of trust with new project

  12-10-2016 19:33 via news.yahoo.com
  
  By Andrea Shalal BERLIN (Reuters) - Three months after taking over at Air France-KLM SA , Jean-Marc Janaillac says the loss-making airline has big problems, including high costs, an unwieldy corporate structure and a lack of trust among different parts of the company. "What is striking is the fact that we are working in an industry that is growing and we are not growing at the pace of the industry," Chairman and Chief Executive Janaillac told a small group of reporters in Berlin. "We still have
  
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• Deutsche Bank to pay $9.5 million penalty over research info: SEC

  12-10-2016 19:32 via news.yahoo.com
  
  Deutsche Bank will pay a $9.5 million penalty to settle civil charges that it failed to properly safeguard material non-public information generated by its research analysts and of publishing an improper research report, U.S. regulators said Wednesday. The Securities and Exchange Commission said Deutsche Bank's securities unit encouraged its equity research analysts to communicate with customers and its own traders, and failed to implement policies to prevent the analysts from disclosing non-pub
  
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