Elon Musk clarifies Tesla hasn’t sold bitcoin

Elon Musk clarifies Tesla hasn’t sold bitcoin

Tesla CEO Elon Musk took bitcoin for another wild ride overnight.  The rollercoaster began when Musk clashed with Twitter users Sunday afternoon who were questioning his recent criticisms of bitcoin. At 1:21 p.m., Musk responded to one such thread, saying, “Obnoxious threads like this make me want to go all in on Doge.” At that … Read more

Shareholders of $100M New Jersey deli fire CEO Paul Morina

Shareholders of $100M New Jersey deli fire CEO Paul Morina

Hometown International, the mystifying New Jersey deli company that is valued at nearly $100 million on the stock market — despite running just a single deli — has ousted its CEO, according to a financial filing.  Paul Morina, a local high school principal and renowned wrestling coach in the area, was removed after a vote … Read more

US whiskey makers sidestep massive tariff hike in EU talks

US whiskey makers sidestep massive tariff hike in EU talks

Whiskey makers in the United States are poised to sidestep a crippling tariff hike that would have doubled duties on their exports to the European Union to a whopping 50 percent. On Monday, the European Union said it will “temporarily suspend” the increase — which would have doubled the already stiff rate of 25 percent … Read more

AT&T signing $43B deal to combine media business with Discovery

AT&T signing $43B deal to combine media business with Discovery

Telecom giant AT&T on Monday announced a deal to spin off its content unit WarnerMedia and merge it with Discovery, creating a massive studio that could compete with streaming rivals Netflix and Disney.  The two companies said AT&T will receive $43 billion in a mix of cash, debt and WarnerMedia’s retention of certain debt for … Read more

60 Wall to exit the ’80s dated FiDi tower set for makeover

60 Wall to exit the ’80s dated FiDi tower set for makeover

Hello to a more public-friendly 60 Wall St. — and farewell to one of the least-loved public spaces of the boom-and-bust 1980s.  One of the Reagan Decade’s defining office skyscrapers is about to undergo a more than $250 million upgrade for the post-pandemic era. Changes to 60 Wall planned by owner Paramount Group at the … Read more

Private equity firms risk losing key advantage in legal scrapes

Private equity firms risk losing key advantage in legal scrapes

A pair of little-noticed court cases are stoking anxiety at US buyout firms, with experts saying they could pave the way for hefty payouts in legal scrapes over some of the industry’s most controversial practices. That’s because the lawsuits are spilling out of the New York bankruptcy court and Delaware Chancery Court — private equity’s … Read more

Alexandra Ford English becomes 1st female board member at Ford

Alexandra Ford English becomes 1st female board member at Ford

Henry Ford’s great-great-granddaughter has become the first woman in history to take a seat on the company’s board of directors. Alexandra Ford English, 33, who has an MBA from Harvard and an undergraduate degree from Stanford, will begin her tenure on the 14-member board immediately, which will also include her cousin, Henry Ford III, the … Read more

Facebook loses court fight over stopping EU-US data transfers

Facebook loses court fight over stopping EU-US data transfers

Facebook lost a legal battle Friday with Ireland’s data privacy watchdog over a European Union privacy decision that could result in the social network being forced to stop transferring data to the US. The Irish High Court rejected Facebook’s bid to block a draft decision by the country’s Data Protection Commission to inquire into, and … Read more

Lenders look to lure consumers with lax standards

Lenders look to lure consumers with lax standards

Banks are loosening standards to qualify for credit cards and personal loans — and it’s not because they’re feeling generous. After tightening credit during the onset of the pandemic, a deluge of defaults that banks had been bracing for never materialized. Instead, consumers hunkered down at home and used a tide of stimulus checks and … Read more