Eduardo Porto

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Snapchat Creators Really Wish Their Ousted Cofounder Would Disappear After 10 Seconds

$15 minimum wage measure survives

<b>SEATTLE</b> — After an election recount Monday, a proposition to raise the minimum wage to $15 an hour in the suburb of SeaTac appears to have survived, King County election officials said.<p>The measure passed by 77 votes in last month's election, with 6,003 votes counted.<p>Ballots for SeaTac Proposition 1 …

Banks, regulators moving to thwart cyberattacks

Financial regulators and industry officials say they are improving information sharing and spending millions of dollars to head off cyber threats, but more must be done.<p>WASHINGTON — Financial regulators and industry officials said Monday they have made progress in efforts to safeguard financial …

World's biggest investor BlackRock says US rally nearing exhaustion

BlackRock has advised clients to be ready to pull out of global stock markets at any sign of serious trouble<p>BlackRock, the world’s biggest investor, has warned that central banks are poised to tighten monetary policy in the Anglo-Saxon countries and China, advising clients to be ready to pull out …

Pay down mortgage debt or invest in shares?

Long-term returns on shares may exceed the interest rate on your mortgage, but should you take the risk?<p>Millions of people are taking advantage of rock-bottom interest rates to overpay their mortgage. Getting rid of your debt early may seem a sensible ploy - but is it really the best use of the …

Five things you need to know about the Volcker Rule

The final version of the Volcker Rule, arguably one of the most important pieces of financial legislation in decades, will be released Tuesday and is expected to be voted into law.<p>Here's a quick and dirty primer:<p><b>What is the Volcker Rule?</b><p>In the wake of the financial crisis, U.S. lawmakers passed a …

It Takes A McDonald's Worker 4 Months To Earn What The CEO Gets In An Hour

A McDonald's employee working overtime for nearly four months straight would make as much as the company's former CEO earned in just 60 minutes, according to an analysis published Tuesday.<p>The analysis, compiled by the financial information company NerdWallet, assumes the average salary of a …

Argentina & the IMF – friends again, one day? | Financial Times

There are two ways to read the IMF’s call on Monday night for Argentina to sort out its dodgy inflation and economic statistics by next March – or, …

Xiaomi’s plan for expansion is to invade the two most saturated smartphone markets in the world

Ever since Xiaomi poached Hugo Barra from Google, the world has been waiting for the Chinese smartphone maker to sell its inexpensive, highly customized Android handsets beyond the confines of greater China. Xiaomi finally dropped the first hints about its plans this weekend in Taiwan, and they’re …

Mobile

Youth unemployment could prolong eurozone crisis, Christine Lagarde says

Christine Lagarde, the managing director of the International Monetary Fund, has warned that long-term prospects for eurozone growth look bleak unless politicians act urgently to stoke domestic demand and tackle youth unemployment.<p>After months of relative calm in financial markets, and with Ireland …

Bailing out General Motors cost the US government $11 billion and it was worth every penny

Government Motors no more: The US Treasury has sold the last of its General Motors common stock, marking the end of the public rescue of the US auto-maker and an unprecedented experiment in US industrial policy.<p>All told, the government invested $51 billion in General Motors in 2008 and 2009, mostly …

General Motors

Kellogg’s Ontario plant closing a casualty of changing tastes

Kellogg Co. is adding its name to a growing list of U.S. companies closing plants in Ontario, as its London factory becomes a victim of changing consumer appetites.<p>The Michigan-based food maker will shut the 89-year-old facility as part of a four-year global retooling that will also see an …

Facebook Vs. Intel: A Market Of Stocks

Recently, well-known Wharton Professor Jeremy Siegel (he of <i>Stocks for the Long Run</i> fame) spoke on the topic of valuation in the broad market, and made a strong case as to why the S&P 500 is still quite undervalued with respect to the current interest rate environment.<p>Additionally, he asserted that …

DAVID WOO: The US Is In Its Strongest Economic Position In 20 Years

"The U.S. is in the strongest economic position in 20 years," Woo said at BAML's global research press conference today.<p>"The U.S. will be the biggest drive of global markets in 2014, as it moves further ahead of other economies in the global business cycle," he said.<p>Woo's team created a "new …

How Google Sold Its Engineers on Management

Artwork: Chad Hagen, Graphic Composition No. 1, 2009, digital<p>Since the early days of Google, people throughout the company have questioned the value of managers. That skepticism stems from a highly technocratic culture. As one software engineer, Eric Flatt, puts it, “We are a company built by …

How a 26-Year-Old Founder Landed Mark Cuban's Money

The Zebra, a Kayak-for-auto-insurance startup, just landed a seed round from, among others, famed investor Mark Cuban. The founder explains how he did it.<p>It all started with a cold email. Subject line: "Want to disrupt the insurance industry?"<p>That's the message Adam Lyons sent to Mark Cuban about …

Insurance Industry

Warren Buffett's secrets uncovered by new study

Is Warren Buffett's success as an investor the result of luck or skill?<p>Is Warren Buffett's success as an investor the result of luck or skill? That's the question two analysts at AQR Capital Management, one of the world's largest and most sophisticated hedge funds, and a professor at New York …

STOCKS FALL: Here's What You Need To Know

RBS finance chief Nathan Bostock quits after just 10 weeks

Nathan Bostock, who was appointed finance director at RBS on October 1, is to join Santander, as deputy chief executive<p>Nathan Bostock is to resign as group finance director of the Royal Bank of Scotland after just 10 weeks in the job.<p>Mr Bostock, who assumed the role on October 1, is set to leave to …

SpaceX just made rocket launches affordable. Here’s how it could make them downright cheap.

When SpaceX put a communications satellite into orbit yesterday, it wasn’t a just triumph of technology. It was a victory for cost control.<p>The enormous expense of rocket launches—especially to the heights needed to keep a large satellite orbiting in a fixed spot over Earth—is a problem for both the …

Space Exploration

This company wants to help you escape your terrible corporate job

After three years of working at Ernst & Young in London as a management consultant, Dominic Jackman felt unfulfilled and decided it was time for a change. In 2009, he asked his boss for a sabbatical but was told “no.” In the past three months, six of his colleagues had also asked for sabbaticals …

Goldman Sachs

Drake Inks Shoe Deal With Michael Jordan’s Nike Brand

Now that Kanye West has officially severed his ties with Nike, Drake has stepped up to design for the brand.<p>The rapper announced the deal last night …

Michael Jordan

French Student Makes A Big Profit Selling Tins Of Air From His Village

"Air de Montcuq" is the brainchild of 22-year-old student Antoine Deblay, who first had the idea to sell his hometown's air over the summer. He put his idea up on the French crowdfunding site, where he was surprised to raise more than 800 euros ($1,000) in just a few weeks — enough to set up a …

In Long Run, Nissan's Ghosn And Tesla's Musk Have Good Reason To Fear Fuel Cells

Renault Nissan CEO Carlos Ghosn and Tesla Motors honcho Elon Musk have both been loud advocates for battery-powered vehicles, but their recent bad-mouthing of hydrogen fuel cell powered cars is a reminder that neither of these technologies will make much of an impact any time soon.<p>Ghosn, leader of …

Blockbuster set to disappear from high street with loss of 1,200 jobs

Blockbuster is likely to disappear from the British high street with the loss of more than 1,200 jobs, after administrators failed to find a buyer for the DVD and games rental chain.<p>A further 62 stores will close from Friday, with 427 job losses, following a spate of closures since the chain went …

Reflections from Brazil | Financial Times

I’m just back from a trip to Brazil with 15 of my IMD MBA classmates and I wanted to paint my own picture of this fascinating country. Accompanied by …