Business

AMC Battles Unlimited Movies At $9.99/Month

Well, not quite unlimited. One per day. The New York Daily News reports: A six-year-old entertainment start-up is trying to revolutionize the movie industry: with a price of just $9.95 per month. The New York-based company MoviePass, in existence since 2011, has announced that it is changing its monthly subscription fee to $9.95. It is essentially striving to become the ...

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Apple Donates $2 Million To Fight Nazis

USA Today reports: Apple CEO Tim Cook said the company would donate $2 million to anti-hate groups, releasing a staff memo that rebuked President Trump and others who claim a “moral equivalence” between white supremacists and the protesters who countered them in last week’s deadly Virginia rally. Cook sent a memo to employees Wednesday pledging the donations to the Southern ...

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Walmart CEO Rebukes Trump On Nazis: He Missed A Critical Opportunity To Bring Our Country Together

The New York Times reports: Walmart’s chief executive issued a strong rebuke of President Trump’s response to the protests that turned violent in Charlottesville, Va., saying the president “missed a critical opportunity to help bring our country together.” The criticism came in a statement that the retailer’s chief executive, Doug McMillon, emailed to employees Monday evening, which was reviewed by ...

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Trump Attacks CEO “Grandstanders” For Resigning From Advisory Council Over His Response To Nazi Terrorism

CNBC reports: President Donald Trump on Tuesday slammed the three chief executives who recently left his manufacturing council as “grandstanders.” Since Monday, three CEO have stepped down from their advisory roles. Merck’s Ken Frazier did so on Monday morning, followed by Under Armour’s Kevin Plank and Intel’s Brian Krzanich. Shortly after Trump’s tweet Tuesday, Scott Paul, president of the Alliance ...

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More CEOs Bail On Trump Over Nazi Response

CNN Money reports: The chief executives of Merck, Under Armour and Intel all quit a presidential manufacturing council on Monday after Trump took two days to denounce white supremacy. Most notable was Kenneth Frazier of Merck, one of the most prominent black executives in the United States, who said the nation’s leaders “must honor our fundamental values by clearly rejecting ...

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Tiki Brand Denounces Torch Nazis

CNN Money reports: Tiki Brand is distancing itself from white nationalists who used tiki torches in a protest march in Charlottesville, Virginia. “Tiki Brand is not associated in any way with the events that took place in Charlottesville and are deeply saddened and disappointed,” the company said in a statement Monday. “We do not support their message or the use ...

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Pharma CEO Resigns From Trump Council Over Nazi Terror Response, Trump Attacks His “Ripoff” Prices

The Hill reports: The chairman and CEO of Merck announced he was resigning from President Trump’s American Manufacturing Council. “Our country’s strength stems from its diversity and the contributions made by men and women of different faiths, races, sexual orientations and political beliefs,” Kenneth C. Frazier said in a statement. “America’s leaders must honor our fundamental values by clearly rejecting ...

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Wall Street Ponders Nuclear War

The Wall Street Journal reports: Here’s a question that’s probably not on the CFA exam: What happens to financial markets if two nuclear-armed nations go to war? After a week of escalating tensions between the U.S. and North Korea, some financial analysts are now taking a stab at it. Strategists at Nordea Markets estimate that in the unlikely event of ...

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NEW TRUMP YORK TRUMP CITY: Trump Advisor Ivanka Trump To Open Ivanka Trump Store In Trump Tower

CNN Money reports: The Ivanka Trump brand is setting up shop in Trump Tower. The label will open a physical store in the Manhattan building this fall, a brand representative confirmed. The company declined to provide any additional details. Right now, Ivanka Trump clothing and accessories are available through partner stores, such as Bloomingdale’s, Lord & Taylor, Dillard’s, Macy’s, Zappos, ...

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New Apple Watch To Untether From iPhone

Not quite Dick Tracy, but closer. Bloomberg reports: Apple Inc. is planning to release a version of its smartwatch later this year that can connect directly to cellular networks, a move designed to reduce the device’s reliance on the iPhone, people familiar with the matter said. Currently, Apple requires its smartwatch to be connected wirelessly to an iPhone to stream ...

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Trump’s First Wife Files TV And Book Trademarks

Bloomberg reports: As Ivana Trump, the fashion model turned businesswoman and ex-wife of U.S. President Donald Trump, prepares for the October release of a new book about raising her children, she’s seeking approval from trademark officials to protect her name in various entertainment and business services. Trump filed a request with the U.S. trademark office in late June to safeguard ...

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Discovery Buys HGTV Parent In $14.6B Deal

From the Hollywood Reporter: Discovery Communications and Scripps Networks Interactive have made it official, unveiling a $14.6 billion deal that will combine the two cable networks companies known mostly for non-scripted and lifestyle content. Discovery will acquire Scripps in the cash-and-stock deal, which the companies said would bring together two sets of strong brands, including networks popular with women, allow ...

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Jeff Bezos Becomes World’s Richest Person

At least for today. Bloomberg reports: A surge in Amazon.com Inc. shares Thursday morning in advance of the online retailer’s earnings report has propelled founder Jeff Bezos past Bill Gates as the world’s richest person. Shares of the online retailer rose 1.3 percent to $1,065.92 at 10:10 a.m. in New York, giving Bezos a net worth of $90.9 billion, versus ...

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Ivanka Trump Continues To Rake In Millions From Companies She “Resigned” From Since The Election

The New York Times reports: Ivanka Trump or her trust received at least $12.6 million since early 2016 from her various business ventures and has an arrangement to guarantee her at least $1.5 million a year even as she serves in a top White House position, according to her first ethics disclosure made public late Friday. The report was released ...

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ExxonMobil Sues Feds Over $2M Fine Levied For Violating Russian Sanctions When Tillerson Was CEO

Reuters reports: Exxon Mobil Corp sued the U.S. government on Thursday, blasting as “unlawful” and “capricious” a $2 million fine levied against it for a three-year-old oil joint venture with Russia’s Rosneft. The U.S. Treasury Department on Thursday morning slapped the world’s largest publicly traded oil producer with the fine for “reckless disregard” of U.S. sanctions in dealings with Russia ...

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MADE IN AMERICA WEEK: Trump’s Florida Businesses File Visa Requests For Dozens Of Foreign Workers

The Hill reports: President Trump’s Mar-a-Lago resort in Florida filed requests with the government on Thursday to hire 70 temporary foreign workers as cooks, housekeepers and servers at the private club, according to records posted by the Labor Department. The jobs would begin on Oct. 1 and end in May 2018, according to the filings. Those positions would take advantage ...

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Elon Musk Claims He Has “Verbal Govt Approval” To Build Hyperloop System From New York To Washington

CNBC reports: The beleaguered transit system in the Northeast may receive a boost from one of the most ambitious entrepreneurs in the world. Elon Musk tweeted Thursday that The Boring Company received “verbal” government approval to begin building an underground Hyperloop, saying it would take 29 minutes to go from New York to Washington, D.C. Musk did not say whether ...

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Treasury Department Fines ExxonMobil $2 Million For Violating Sanctions On Russia When Tillerson Was CEO

Reuters reports: The U.S. Treasury Department on Thursday said it was fining global oil company ExxonMobil Corp $2 million for violating sanctions on Russia in May 2014. The heads of the company’s U.S. subsidiaries signed eight documents between May 14 and May 23, 2014 with Igor Sechin, the head of Russia’s largest oil producer, Rosneft, Treasury’s Office of Foreign Assets ...

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Ark Encounter Sells Land Under Park To Itself For $10 To Evade Tax To Pay For Police And Fire Protection

The International Business Times reports: The group that owns the theme park Ark Encounter have sold the park to their nonprofit affiliates for 10 dollars to avoid paying taxes, according to a report Monday by the Lexington Herald-Leader. The Christian theme park in Williamstown, Kentucky is owned by creationist Ken Ham and features a life-sized recreation of Noah’s Ark. Ark ...

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DC Chain Trolls Junior With Free “Nothing Burgers”

The Washingtonian reports: Good news for the cynics of the world. You’ve always said that nothing comes free. Well, this Tuesday at Z-Burger, that’s true. The Tenleytown location of the burger chain will offer free “nothing burgers” from 11 AM to 2 PM on July 18. The promotion was inspired by talk of Donald Trump, Jr.‘s email scandal and whether ...

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