New York Posts – Business

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  • BofA takes one-time tax hit, vows benefit in longer term
    by Reuters on January 17, 2018 at 4:50 pm

    Bank of America’s quarterly profit nearly halved due to tax-related charges, though net income excluding that hit topped estimates and management promised the new US tax system would eventually benefit shareholders. The tax overhaul is taking a chunk out of Wall Street profits this quarter as lenders swallow one-time charges on overseas earnings and write... […]

  • Smart vending machines could change e-commerce as we know it
    by Lisa Fickenscher on January 17, 2018 at 3:06 pm

    Lowly vending machines that spit out candy, soda and smokes are so last century. New-fangled machines that sell down jackets and cell phones are on the verge of becoming vital cogs in the e-commerce, want-it-now revolution — serving as around-the-clock, around-town warehouse-like distribution points that make the last mile to customers’ front door smooth and... […]

  • Goldman Sachs posts first quarterly loss in six years
    by Kevin Dugan on January 17, 2018 at 2:58 pm

    Well, that’s embarrassing. Goldman Sachs, one of the biggest corporate beneficiaries of the Trump era, reported that it still struggled to make money during the fourth quarter, posting its first quarterly loss in six years. Lloyd Blankfein’s bank made 50 percent less in trading bonds, currencies and commodities during the fourth quarter than it did... […]

  • ‘Today’ show gets new executive producer in major overhaul
    by Alexandra Steigrad on January 17, 2018 at 2:50 pm

    There’s another major shakeup at the “Today” show. Senior producer Libby Leist has been elevated to the role of executive producer of the show, The Post has learned. Leist replaces Don Nash, the longtime EP, who stepped down after a 30-year career at the company. According to NBC insiders, Nash was asked to stay and... […]

  • Walmart offers way to turn leftover opioids into useless gel
    by Associated Press on January 17, 2018 at 6:21 am

    Walmart is helping customers get rid of leftover opioids by giving them packets that turn the addictive painkillers into a useless gel. The retail giant announced Wednesday that it will provide the packets free with opioid prescriptions filled at its 4,700 U.S. pharmacies. The small packets, made by DisposeRX, contain a powder that is poured... […]

  • Don’t bother bringing cash if you’re flying American Airlines
    by Fox News on January 17, 2018 at 4:36 am

    If you’re planning on flying American Airlines out of Miami International Airport, don’t forget your debit card. Starting Thursday, the mega-airliner has announced it is moving to a cashless model at the Florida airport and will no longer be accepting anything other than credit or debit cards for desk transactions such as checked bags or... […]

  • Nelson Peltz hopes he can turn things around for GE
    by Josh Kosman on January 17, 2018 at 3:30 am

    Nelson Peltz is hoping his well-worn activist-investor playbook will bring good things to life at GE. Peltz’s Trian Fund Management, which has seen its investment in the troubled General Electric decline since when he bought into the company in 2015, is pushing the conglomerate to explore possible sales or spin-outs of many of its businesses... […]

  • Judge seems OK with Ackman’s $290M Allergan settlement
    by Carleton English on January 17, 2018 at 2:37 am

    Bill Ackman and Valeant Pharmaceuticals can breathe a sigh of relief — for now. A federal judge in California indicated Tuesday that he would grant preliminary approval to a $290 million settlement Ackman’s Pershing Square and Valeant reached with shareholders of Botox-maker Allergan. “The Court has vacated the trial date and indicated its preliminary approval... […]

  • Einhorn’s hedge fund gained only 1.6% last year
    by Carleton English on January 16, 2018 at 9:24 pm

    David Einhorn’s investors aren’t the only ones upset by his hedge fund’s lagging performance — the hedgie himself is also frustrated. Einhorn’s Greenlight Capital reported a paltry 1.6 percent gain for 2017, while the S&P 500 soared 21.8 percent, according to a letter sent to investors Tuesday. “We had a nondescript result in a period... […]

  • AT&T urged to cut commercial ties with Chinese phone maker
    by Reuters on January 16, 2018 at 5:19 pm

    US lawmakers are urging AT&T, the No. 2 wireless carrier, to cut all commercial ties to Chinese phone maker Huawei Technologies and oppose plans by telecom operator China Mobile to enter the US market because of national security concerns, said two congressional aides. The warning comes after the administration of President Trump took a harder... […]

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