New York Posts – Business

  • Blade isn’t leaving East Hampton after all
    by Richard Morgan on May 26, 2018 at 2:23 am

    Blade — the Uber-like helicopter service to the East End — had to endure blaring headlines this spring that it lost its home base at East Hampton Airport. But it was just noise, as the tony hamlet had no right to ground the helicopter fleets ferrying Manhattanites out east for as low as $595. The... […]

  • Ex-Xerox CEO caves to pressure, gives up $18M golden parachute
    by Josh Kosman on May 26, 2018 at 2:03 am

    Xerox’s former boss gave up an $18 million golden parachute this month as he caved to pressure from billionaire Carl Icahn, The Post has learned. Ex-CEO Jeffrey Jacobson resigned on May 13 as Xerox abandoned a controversial merger with Fujifilm — a $6.1 billion deal engineered by Jacobson whose price Icahn and investor Darwin Deason... […]

  • Trump administration reaches deal to save Chinese giant ZTE
    by Paul Wiseman on May 25, 2018 at 10:55 pm

    The Trump administration has told Congress that it’s reached a deal on Friday that would allow Chinese telecommunications giant ZTE Corp. to stay in business, a source said on condition of anonymity. A resolution of the ZTE case could clear the way for the United States to make progress in its high-stakes trade talks with... […]

  • Herbalife shares crash after Icahn slashes his stake
    by Carleton English on May 25, 2018 at 10:19 pm

    After nearly six years of battling activist investor Bill Ackman, Carl Icahn has pared down his stake in Herbalife. The hard-charging billionaire said Friday that sold roughly a quarter of his Herbalife investment because it become an “outsized position” in his portfolio. Herbalife shares plunged almost 9 percent as the news emerged Friday morning. By... […]

  • Live Nation investor withdraws suit over executive bonuses
    by Richard Morgan on May 25, 2018 at 10:17 pm

    A Live Nation investor who accused the concert promoter of handing out $11 million in unwarranted bonuses withdrew her lawsuit on Friday. Sources said investor Shiva Stein canceled a hearing slated for May 31 after Live Nation lawyers explained the specific metrics it used to calculate performance targets. Stein had noted in her suit filed... […]

  • Roku stock gets boost after short-seller changes mind
    by Carleton English on May 25, 2018 at 10:14 pm

    Roku’s stock was on a tear Friday after a noted short-seller changed his tune on the streaming giant. “What a difference six months makes,” Andrew Left of Citron Research said in a report Friday on the streaming player maker, hinting at a potential Netflix tie-up. “The move to cutting the cord and [over-the-top] advertising is... […]

  • Half of Walmart’s workers are now part-timers
    by Reuters on May 25, 2018 at 4:52 pm

    Part-time workers account for half of Walmart’s workforce, up from 20 percent in 2005, according to a labor group report Friday that examined the company’s increased shift away from more expensive full-time employees. The report from the Organization United for Respect (OUR), formerly called OUR Walmart, said 69 percent of the part-time employees it surveyed... […]

  • Tesla accelerated seconds before Autopilot crash in Utah: cops
    by Associated Press on May 25, 2018 at 3:14 pm

    A Tesla that crashed while in Autopilot mode in Utah this month accelerated in the seconds before it smashed into a stopped firetruck, according to a police report obtained by the Associated Press on Thursday. Two people were injured. Data from the Model S electric vehicle show it picked up speed for 3.5 seconds shortly... […]

  • Tesla settles class-action lawsuit over its Autopilot system
    by Nicolas Vega on May 25, 2018 at 2:56 pm

    Tesla’s Autopilot keeps making headlines for all the wrong reasons. The electric car maker has settled a class-action lawsuit with buyers of its Model S and Model X vehicles who alleged that the assisted-driving system was “essentially unusable and demonstrably dangerous.” The 2017 lawsuit in San Jose federal court named six Tesla Model S and... […]

  • Amazon blames creepy Alexa incident on ‘unlikely’ string of events
    by Associated Press on May 25, 2018 at 1:44 pm

    An “unlikely” string of events prompted Amazon’s Echo personal assistant device to record a Portland, Oregon, family’s private conversation and then send the recording to an acquaintance in Seattle, the company announced Thursday. The woman told KIRO-TV that two weeks ago, an employee of her husband contacted them to say he thought their device had... […]