New York Posts – Business

  • Cox Communications exec expected to be the first witness in AT&T trial
    by Josh Kosman on March 21, 2018 at 3:45 am

    Suzanne Fenwick, the head of content acquisition at Cox Communications, is expected to be the first witness when the government’s lawsuit to block AT&T’s proposed $85 billion acquisition of Time Warner heads to trial on Thursday, The Post has learned. Fenwick leads Cox’s merger and acquisition team. Atlanta-based Cox has consistently made it clear that... […]

  • Nordstrom family fails again in bid to take company private
    by Josh Kosman, Lisa Fickenscher on March 21, 2018 at 3:02 am

    The Nordstrom founding family has now failed twice to take the company private. Nordstrom on Tuesday said that the special committee of its board has terminated discussions with members of the Nordstrom family — who include company co-Presidents Blake Nordstrom, Peter Nordstrom, and Erik Nordstrom; President of Stores James Nordstrom; Chairman Emeritus Bruce Nordstrom;, and... […]

  • Zuckerberg and Sandberg silent amid Facebook scandal
    by Nicolas Vega on March 21, 2018 at 2:31 am

    Regulators have launched a probe into Facebook’s alleged misuse of private user data and investors continued to pummel the company’s shares — but Chief Executive Mark Zuckerberg remained quiet and out of public view on Tuesday. The same is true for Chief Operating Officer Sheryl Sandberg — who’s done anything but “lean in” lately. At... […]

  • Toymaker says Toys ‘R’ Us was misleading about bankruptcy
    by Lisa Fickenscher on March 21, 2018 at 2:12 am

    A Florida toymaker lashed out at Toys “R” Us management on Tuesday, saying the retailer’s executives misled it about getting paid just to keep inventory levels high. “It was certainly ethical fraud and disgusting and despicable,” Jay Foreman, chief executive of Basic Fun, whose Uncle Milton Moon in My Room was sold at the chain... […]

  • Former Newell director may bid for the company’s brands
    by Carleton English, Josh Kosman on March 20, 2018 at 9:29 pm

    A former director at Newell Brands said Tuesday he may bid to acquire some of the manufacturer’s assets, including Yankee Candle, Mr. Coffee and Crock-Pot. Financier Martin Franklin — who sat on Newell’s board until January — confirmed his interest in the brands on Tuesday, a day after billionaire Carl Icahn struck a deal with... […]

  • Cambridge Analytica suspends its CEO
    by Nicolas Vega on March 20, 2018 at 7:56 pm

    Cambridge Analytica said its board has suspended CEO Alexander Nix as it launches an internal probe into possible wrongdoing by the company. The political data firm — at the center of a report last weekend saying it used the leaked data of 50 million Facebook users to attempt to sway the 2016 presidential election —... […]

  • Zuckerberg dumped a boatload of Facebook shares before stock nosedive
    by Marketwatch on March 20, 2018 at 6:28 pm

    Facebook chief executive Mark Zuckerberg saw his net worth decline by about $5 billion Monday, but it could have been worse. Ahead of Facebook’s worst one-day decline since 2012, prompted by news that data affecting 51.3 million members was improperly shared with a political consulting firm, Zuckerberg had been busy selling stock. So far this... […]

  • The FTC is now probing Facebook’s use of personal data
    by Nicolas Vega on March 20, 2018 at 2:32 pm

    Facebook is facing a Federal Trade Commission probe over the growing scandal in which it handed over the personal data of 50 million users to controversial research firm Cambridge Analytica. The investigation will seek to determine whether Facebook violated the terms of a 2011 consent decree it signed with the FTC, which restricted the ways... […]

  • Tesla employees claim many parts are flawed
    by John Crudele on March 20, 2018 at 3:10 am

    Some employees at Tesla, which is led by CEO Elon Musk, said last week that the company is manufacturing a high ratio of flawed auto parts. The electrical car maker has had to ship some flawed parts to remanufacturing facilities to avoid scrapping them, rather than fixing them in-line, according to CNBC. Tesla denies the... […]

  • Lawyers battle over evidence in AT&T-Time Warner suit
    by Richard Morgan on March 20, 2018 at 2:51 am

    With the curtain rising on the Justice Department’s suit to block AT&T’s $85 billion acquisition of Time Warner, lawyers for both sides spent Monday arguing over what evidence should be allowed into the case. The Justice Department asked to enter reams of internal records from AT&T and DirecTV — both before and after their July... […]