New York Posts – Business

  • Judge tosses class-action lawsuit against Poland Spring
    by Associated Press on May 22, 2018 at 5:14 am

    PORTLAND, Maine — A federal judge in Connecticut has dismissed a lawsuit that accuses Poland Spring’s parent company of selling water that’s sourced from wells, not springs. Charles Broll, general counsel for Nestle Waters North America, praised the judge’s decision late last week to dismiss the “meritless lawsuit.” Stamford, Connecticut-based Nestle Waters North America contends... […]

  • Reaction to scams enveloping USPS, NY prisons
    by John Crudele on May 22, 2018 at 4:06 am

    Readers: In last Thursday’s column, I wrote about two scams. One was about prisoners gaming the system so they would be eligible for benefits once they were released — and the second was about people who make counterfeit US postage stamps. Both of the items about scams got a big response. I’d like to share... […]

  • NYSE set to name its first-ever female president
    by David K. Li on May 22, 2018 at 3:58 am

    For the first time in the 226-year history of the New York Stock Exchange, a woman has been named as its president, according to a published report Monday night. Stacey Cunningham – who had been the chief operating officer – will replace Tom Farley, who is leaving the organization, NYSE spokesman Josh King told The... […]

  • Trump might have major victory in trade talks with China
    by John Crudele on May 22, 2018 at 2:55 am

    Unless China is screwing with the US, the Trump administration could have a major victory in trade talks between the two countries. President Trump often looks like he’s out of control, and often he is. In this case, that act might work. The market rose sharply on Monday — the Dow Jones industrial average added... […]

  • Starbucks’ new open-door policy has some exceptions
    by Richard Morgan on May 22, 2018 at 2:44 am

    Starbucks elaborated on its open-door policy on Monday as the controversy over allowing anyone free use of its facilities roared over the weekend. The “third-place policy” announced by Starbucks on Saturday had many customers wondering if it would make the cafes the first place to gather for drug users and the homeless. The policy posted... […]

  • Goldman Sachs: Trump’s tax cuts could cause recession
    by Kevin Dugan on May 21, 2018 at 9:11 pm

    President Trump’s $1.4 trillion tax cut could have painful consequences for the economy down the road — including a possible recession and a ballooning deficit, according to Goldman Sachs. “The US fiscal outlook is not good,” Goldman’s chief economist Jan Hatzius said in a Sunday note. The Wall Street powerhouse — whose former president Gary... […]

  • Consumer Reports won’t recommend Tesla’s Model 3
    by Reuters on May 21, 2018 at 7:09 pm

    US consumer bible Consumer Reports stopped short of recommending Tesla’s Model 3 sedan on Monday, criticizing the car for its braking and taking the shine off a day of gains for shares in billionaire Elon Musk’s venture. Musk had driven shares in the electric carmaker 4 percent higher with a weekend Twitter discussion which showed... […]

  • Tesla shares spike after Elon Musk reveals $78,000 Model 3
    by Nicolas Vega on May 21, 2018 at 5:22 pm

    Tesla shares jumped more than 4 percent Monday after Elon Musk revealed a new, $78,000, souped-up version of the electric car maker’s mass-market Model 3 sedan. The fully loaded Model 3 will go from zero to 60 mph in 3.5 seconds — more than a half-second sooner than the basic, $35,000 Model 3, Musk announced... […]

  • Stocks surge as China trade war put ‘on hold’
    by Reuters on May 21, 2018 at 3:02 pm

    US stocks rallied broadly Monday after the United States and China put a potential trade war “on hold” to work on a wider agreement, with sentiment also getting a boost from the nearly $28 billion worth of US merger deals. US Treasury Secretary Steven Mnuchin said Sunday the United States and China had agreed to... […]

  • EU parliament’s grilling of Zuckerberg to be broadcast live
    by Reuters on May 21, 2018 at 1:42 pm

    A European Parliament meeting on Tuesday with Facebook CEO Mark Zuckerberg will be broadcast live, parliamentary officials and the company said on Monday after controversy over plans for a closed-door hearing. Parliament President Antonio Tajani, who was criticized by legislators and some senior EU officials over arrangements for the discussion on public privacy concerns, tweeted... […]