Last month, Hurd went on a medical leave for unspecified health reasons, while Catz and founder Larry Ellison took over his responsibilities during the absence. "Oracle has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle," Ellison wrote in an email to company employees. Hurd and Catz were named co-CEOs in 2014, after Ellison decided to step aside to focus on his role as chief technology officer.
BA) delayed disclosing internal communications about its troubled 737 MAX jet to the Federal Aviation Administration, news that left the stock with a loss of almost 7%. Late yesterday, Boeing alerted the Department of Transportation to the existence of instant messages between two Boeing employees, characterizing certain communications with the FAA during the original certification of the 737 MAX in 2016,” according to an FAA statement emailed to Barron's Friday. Boeing explained to the Department that it had discovered this document some months ago.
The U.S. and China may be nearing a tentative, partial trade agreement but the IMF's new leader has warned the trade truce won't be enough to boost global growth. Another ongoing dispute may also be nearing a resolution, with the U.K. and EU agreeing a Brexit deal, though British MPs still have to approve it. But the U.S. has confirmed tariffs on $7.5 billion worth of European goods will take effect on Friday, proving that geopolitical tensions are here to stay.
Most retirees rely on retirement income they didn't personally put away for their futures, although they did work for it. Young adults won't have that luxury, and they know it, a recent survey found. All but 5% of current retirees consider Social Security and a pension plan as their primary sources of retirement income, according to a Wells Fargo (WFC) survey released Friday.
Facebook Inc. Chief Executive Officer Mark Zuckerberg discusses the social-media company's stance against the censored version of the internet found in China, and role of U.S.-based online companies in promoting free expression. Zuckerberg spoke to students at Georgetown University's Gaston Hall in Washington.
Traders continue to surprisingly laugh in the face of China's economic slowdown, which is in large part being fueled by the trade war with the U.S. Markets are more focused (and more upbeat, subsequently) on how global economic slowdowns will drive stimulus actions by central bankers and governments (especially in China), according to experts. Optimism also rages on because China's economy does in fact continue to grow, allowing big multinationals such as Starbucks and Apple to benefit from the rise in worker incomes and overall living standards.
Dividend stocks provide a reliable income stream. While near-term fluctuations in the stock market can be unpredictable, dividends are one of the few reliable sources of market returns. High-yielding dividend value stocks can serve as a great foundation for a long-term investment portfolio.
JPMorgan Chase Bank has big plans for the Kansas City area, and it has recruited two seasoned bank executives from to help build out its retail presence here. Kiley Sidman was hired as market director for banking in Kansas City. She has spent her entire 13-year career at Wells Fargo & Co. Most recently, she was Wells Fargo's regional bank district manager for Kansas and Missouri.
Mark Hurd, who until last month was one of two CEOs leading the database software giant Oracle, has passed away at age 62, one month after telling employees in a letter that he was taking a leave of absence owing to health reasons. Staffers, who were notified that Hurd died earlier this morning, have been offering their condolences on Twitter. Hurd joined Oracle nine years ago, after spending five years with Hewlett-Packard, where he was CEO, president and, ultimately, board chairman, all roles from which he was pressured to resign in 2010 after submitting inaccurate expense reports that concealed his personal relationship with an outside consultant to the company.
The so-called Cadillac of Medicare-related insurance is being phased out at year's end, shutting Medicare newcomers out of the plan that many retirees buy for peace of mind, and potentially boosting costs for those who remain or turn to another popular option. People who turn 65 after 2019 won't be allowed to pick Medigap supplement Plan F, the most popular supplemental plan that helps retirees cover medical costs that Medicare doesn't pay. Retirees already in Plan F by year's end will be allowed to stay.
A former Credit Suisse Group AG banker told a federal jury in New York that his decision to take millions of dollars in bribes was fueled in part by his secret love affair with a subordinate. Andrew Pearse, 49, admitted he got at least $45 million for his role in arranging $2 billion in loans to companies in Mozambique. He's the U.S. government's first witness in the trial of Jean Boustani, a Privinvest Group salesman who's accused of defrauding U.S. investors.
Dividend stability factor: 7. Dividend payout ratio: 35.3%. Earnings stability factor: 8.
Alphabet -owned drone delivery spin-out Wing is starting to service U.S. customers, after becoming the first drone delivery company to get the federal go-ahead to do so earlier this year. Wing is working with FedEx Express and Walgreens on this pilot, and their first customers are Michael and Kelly Collver, who will get a "cough and cold pack," which includes Tylenol, cough drops, facial tissues, Emergen-C and bottled water (do people who have colds need bottled water?). The Collvers are receiving their package in Christianburg, Va., which is where Wing and Walgreens will run this inaugural pilot of the drone delivery service.
RBC analyst Joseph Spak has been speaking with clients and noted an uptick in Model Y discussions recently. “According to the Tesla [ticker: TSLA] website, the vehicle is expected to begin production in late 2020,” wrote Spak in a Friday research report. The Y is a smaller sport-utility vehicle, or so-called crossover, smaller than Tesla's Model X and comparable to (BMW)'s (BMW.Germany) X3.
The clouds may be clearing for biopharma, according to Bank of America Merrill Lynch analyst Geoff Meacham, who issued Buy ratings on four major names in the sector in a sweeping note out on Wednesday. Despite the sector's weakness in the second half of the year, Meacham noted that the health-care policy changes in Washington that have been weighing on biopharma are looking increasingly unlikely to materialize. Meacham issued Buy ratings on (BMY) (ticker: BMY), (LLY) (LLY), (VRTX) (VRTX), and (BMRN) (BMRN).
On Thursday, TSMC (ticker: TSM) reported better-than-expected third-quarter earnings and significantly raised its capital-expenditure plans for this year. “Our third-quarter business benefited from new product launches both in premium smartphones and high-performance computing [HPC] applications using TSMC's industry-leading 7-nanometer technology,” said Wendell Huang, chief financial officer of TSMC, in the news release. TSMC has consolidated its market share in recent years because its foundries were the first to offer 7-nanometer (nm) chip production at significant volume.
Ford has put together what it says is the biggest network for charging electric vehicles in North America. The automaker says more than 12,000 charging locations with more than 35,000 plugs will be available when their Mustang-inspired electric SUV becomes available next year. The charging stations will work for non-Ford vehicles, as well.
Joel Haggard, senior vice president for Asia-Pacific at U.S. Meat Export Federation, discusses how the trade war and rising prices are affecting Chinese demand for pork. China, the world's biggest pork producer, saw domestic output of the meat plunge the most since at least 2009 as outbreaks of African swine fever killed hogs and hurt restocking by farms. Haggard speaks with David Ingles, Rishaad Salamat and Yvonne Man on "Bloomberg Markets: Asia."
p As it moved capacity elsewhere, Samsung kept its Chinese production to serve the China market. But it has seen its share evaporate to 1.1 per cent in the first quarter from about 20 per cent in 2013, according to Strategy Analytics, removing the final barrier to closing its factories there.
Wall Street guessed that writedowns from Schlumberger Ltd. were coming, but some analysts were taken aback by the sheer size of the $12.7 billion in pretax charges reported by the oil services company on Friday. The company's earnings report was its first since Chief Executive Officer Olivier Le Peuch took the reins in August. The writedowns led the company to post its largest net quarterly loss in at least a decade.
The market for credit cards is crowded, but PayPal (PYPL) and Synchrony expect that consumers will see value and differentiation in their offering due to a focus on the back-end user interface. Venmo cardholders will be able to deal with all aspects of their cards from within the Venmo app, providing a “native in-app experience” for users who are used to checking that app on a routine basis, according to Synchrony Chief Executive Margaret Keane. PayPal Senior Vice President of Credit Darrell Esch declined to reveal the distinct features of the card or app ahead of the official launch next year, though the company's release said that cardholders “will receive real-time alerts and can interact...
Big tech companies in Silicon Valley worry about retaining in-demand workers who are barraged with tempting job offers — but some companies seem to retain employees for longer than others. A Silicon Valley Business Journal analysis of data calculated by career website LinkedIn found that Facebook, ServiceNow, LinkedIn, Tesla, VMware and Google have the hardest time retaining workers, with average employee tenure ranging from 2.6 to 4.3 years. On the other end of the spectrum are more established, hardware-oriented companies like Applied Materials, Intel Corp.
AT&T Inc. (NYSE: T) is raising rates yet again for its online television streaming packages. The company's AT&T TV Now will see a $15 increase for its “plus” package – currently $50 monthly – and customers on other plans will get a $10 increase, an AT&T spokesperson said in an emailed message. “Customers can contact us at any time to review their plans or make account changes.” The lineup, formerly called DirecTV Now, had seen prices for packages rise earlier as HBO was added.
Louisville-based Humana Inc. has filed a 600-plus page lawsuit alleging 37 pharmaceutical companies — several of which are international powerhouses — engaged in an industrywide conspiracy that sent the cost of several generic drugs skyrocketing. Filed on Friday, the lawsuit from the Louisville-based health insurer and health services provider claims the so-called conspiracy resulted in some generic drug prices increasing by over 1,000 percent. Humana filed a similar lawsuit last year in the same court in August 2018.
The model is among the most profitable sneakers traded on the exchange created by Beijing-based Nice App Mobile Technology Co. Such outsize returns are hard to come by, but they've nonetheless caught the attention of sneakerheads like Lei Xiaoming, 20, a mechanical engineering student in Huangshi. Since then, he's spent about 200,000 yuan buying more than 200 pairs—mostly Air Jordans and Adidas AG's Yeezy line, a collaboration with rapper Kanye West. While many products suffer from the effects of the trade war, pairs of collectible sneakers are flying off the shelves, and that's attracting the attention of U.S. sneaker exchanges StockX and GOAT—as well as China's central bank and state media.