Sheryl Sandberg and other top Facebook execs silenced a Kurdish group at the request of the Turkish government in a bid to protect its business in 2018, according to a new report. According to ProPublica, Turkey, which was launching a bloody military offensive against Kurdish minorities in neighboring Syria, demanded that Facebook block posts from … Read more
Federal Reserve Chairman Jerome Powell reiterated plans to keep interest rates close to zero and asset purchases humming along despite signs that the US economy is beginning to recover from the pandemic. After telling the Senate on Tuesday that he was concerned about inflation, Powell on Wednesday told the House Financial Services Committee he would … Read more
GameStop’s stock price surged Wednesday after the “Reddit rally” favorite hinted at efforts to supercharge its digital growth plans. Shares in the Texas-based video game retailer climbed as much as 10 percent to an intraday peak of $49.57 after it announced that chief financial officer James Bell would leave on March 26 after less than … Read more
Fry’s Electronics — a big-box retailer that grew rapidly in the 1990s with a chain of giant and sometimes wildly decorated stores — abruptly announced that it’s going out of business. The San Jose, Calif.-based retailer said in a Wednesday statement it “has made the difficult decision to shut down its operations and close its … Read more
Congress is nothing compared to Davey Day Trader. Barstool Sports founder Dave Portnoy put the screws to Robinhood CEO Vlad Tenev as he accused the stock-trading app of turning its back on amateur investors during the GameStop saga. “You did something and gave a huge advantage to the big guy that is the exact opposite … Read more
A rival to Robinhood is encouraging users to dump the stock-trading app in favor of its own — and it’s tapping Michael Bolton to seal the deal. Public — a New York-based startup that’s looking to capitalize on Robinhood’s recent trouble with regulators and customers alike — tweeted out a video on Tuesday of the … Read more
New York City Comptroller Scott Stringer is looking to loosen strict rules that govern private-equity firms managing the city’s pensions — a potentially risky policy switch that he claims will improve returns, The Post has learned. Specifically, Stringer — a Democrat running for mayor in this year’s election — is urging trustees of the city’s … Read more
Ripple Labs’ cryptocurrency tumbled Tuesday after MoneyGram said it paused its relationship with the tech firm while it battles the feds in court. The price of XRP — the digital coin at the center of a Securities and Exchange Commission lawsuit against Ripple — sank nearly 22 percent to roughly 47 cents as of 2:10 … Read more
Adam Neumann’s golden parachute keeps getting smaller. The WeWork co-founder is discussing a settlement with SoftBank that would cut his payout from the Japanese investment giant roughly in half, according to reports. Neumann and WeWork filed separate lawsuits against SoftBank last spring after it abandoned plans to buy $3 billion worth of shares from the … Read more
Johnson & Johnson has socked away $3.9 billion to help cover the costs of thousands of lawsuits it’s facing over accusations that its baby powder is laced with asbestos. The pharmaceutical giant revealed its 2020 litigation expenses in a Monday regulatory filing, saying the money was “primarily associated with talc related reserves and certain settlements.” … Read more