New York Posts – Business

  • Wells Fargo said to be refunding charges for add-on products
    by Reuters on July 19, 2018 at 5:04 pm

    Wells Fargo is in the process of refunding millions of dollars to customers for adding services to their accounts without their full understanding, the Wall Street Journal reported on Thursday, citing sources. Wells Fargo charged monthly fees for these products ranging from pet insurance to legal services that customers did not fully understand, the Journal... […]

  • Jeff Zucker to take six-week heart surgery leave from CNN
    by Alexandra Steigrad on July 19, 2018 at 3:56 pm

    CNN boss Jeff Zucker will take a six-week leave from the company to deal with heart surgery. CNN confirmed the details provided by Brian Stelter, the network’s media correspondent, who tweeted the news on Thursday. Stelter said via Twitter: “Jeff Zucker just ended the CNN morning meeting with news of his own: He will be... […]

  • Ford recalls half a million potential roll-away vehicles
    by Fox Business on July 19, 2018 at 3:56 pm

    Ford said Wednesday it’s recalling approximately 550,000 sedans and SUVs in North America, saying a problem with the gear shifter could cause the vehicles to roll away. The recall includes some 2013 to 2016 Ford Fusion cars and 2013 to 2014 Ford Escape SUVs. About 504,000 of the affected vehicles were sold in the US.... […]

  • FCC action roils prospects of Sinclair’s merger with Tribune
    by Josh Kosman on July 19, 2018 at 1:40 pm

    There will be no quick fix for Sinclair Broadcast Group’s proposed $6.6 billion acquisition of Tribune Media. The FCC on Wednesday evening voted unanimously to either send the case to an administrative law judge or open the deal once again to an extended comment period — exactly what Sinclair was trying to avoid. Either route... […]

  • Comcast drops out of Fox bidding war, will focus on Sky
    by Reuters on July 19, 2018 at 1:15 pm

    Comcast has dropped its pursuit of a group of media assets owned by Twenty-First Century Fox on which it was bidding against Walt Disney, and instead will focus on its offer for European pay-TV group Sky. Shares of Comcast were up 2.2 percent in premarket trade, while Fox fell 1 percent. Shares of Walt Disney... […]

  • Powell’s optimism could mean higher interest rates
    by John Crudele on July 19, 2018 at 2:33 am

    Federal Reserve Chairman Jerome H. Powell told Congress this week that the economy is growing “considerably stronger.” And while those words would warrant a hooray from Americans, that phrase coming from Powell is a little more complicated. Powell is essentially saying that he’s not going to stop raising interest rates even if inflation stays over... […]

  • What’s behind the government’s record income tax collection
    by John Crudele on July 19, 2018 at 2:32 am

    Speaking of the economy: According to the Treasury Department’s monthly statement, our government collected a record $1.305 trillion in individual income taxes through the first nine months of fiscal 2018. The figure, which goes up to June, is rising because more people are working and paying taxes. It may also be heading higher because more... […]

  • Conservative media boss told Trump he opposed Sinclair-Tribune merger
    by Josh Kosman on July 19, 2018 at 2:07 am

    The Federal Communication Commission’s surprise move to block Sinclair Broadcast Group’s $6.6 billion acquisition of Tribune Media came after the head of a rival conservative news outlet discussed his opposition to the deal with President Trump, The Post has learned. “I have discussed my opposition to the merger a few times with him,” Christopher Ruddy,... […]

  • Walmart’s next swipe at Amazon may be streaming video service
    by Richard Morgan on July 19, 2018 at 2:03 am

    Walmart’s extreme competition with Amazon may soon go over the top. The world’s leading brick-and-mortar retailer, led by CEO Doug McMillon, is considering a streaming service, according to a report. Although details are scarce, a Walmart entry could undercut other streaming services on the market by charging no more than $8 a month. Walmart sees... […]

  • With Blankfein’s exit, Goldman Sachs loses major DC influence
    by John Crudele on July 19, 2018 at 1:50 am

    I’d like to wish Goldman Sachs’ Lloyd Blankfein a happy retirement. God and I both appreciate — and understand — what he really did. If you didn’t catch the sarcasm in that last line, you need a refresher course on Goldman. And you need a reminder about some of the columns I’ve done on the... […]