Business

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Trump targets another company moving to Mexico: Rexnord

WASHINGTON (Reuters) - After threatening consequences for companies that move jobs overseas, President-elect Donald Trump has turned his attention to another Indiana company planning a move to Mexico.<p>"Rexnord of Indiana is moving to Mexico and rather viciously firing all of its 300 workers. This is …

Republicans

$50m Trump residential development relied on immigrant visa funds

Critics say Trump Bay Street, now leasing apartments at $3,100 a month in New Jersey, is a showcase for the misuse of a controversial immigrant visa program<p>The first residential Trump-branded development to open since Donald Trump’s election victory last month opened for business in Jersey City, …

Immigration

Trump Treasury pick Mnuchin could profit from bill to reduce bank supervision

A bill passed by the House late Thursday could be a boon to Steven Mnuchin, Donald Trump’s pick to head the Treasury Department, who owns a big stake in CIT Group Inc. CIT, +0.10% , one of the next-tier banks that stand to benefit from the bill’s full passage.<p>If confirmed as Treasury secretary, …

Finance

U.S. Veterans to Meet with Tribe Elders in Pipeline Protest

In addition to protecting protestors, the veterans plan to complete a barracks and mess hall.<p>U.S. military veterans will meet with tribal leaders on Saturday as they continue to entrench themselves in a North Dakota camp where thousands of activists are protesting a multibillion-dollar pipeline …

Protest

Walmart agrees to $7.5 million settlement in same-sex benefits lawsuit

Walmart is poised to pay millions of dollars to thousands of former and current employees after it agreed to settle a lawsuit claiming the company denied health insurance to same-sex spouses.<p>The retail giant, which denies the claims, OK'd the $7.5 million settlement, which would resolve a 2015 …

Walmart

Airbnb is done fighting with New York City

NEW YORK (Reuters) - Airbnb and New York City said on Friday they had resolved a lawsuit brought by the company challenging a law it argued could expose it to significant penalties for advertising short-term apartment rentals.<p>Airbnb filed the suit in October after New York state enacted a law …

New York City

Objections for LSE-Deutsche Boerse merger due

Europe's competition watchdog is preparing to reveal its objections to the proposed marriage of the London Stock Exchange and Deutsche Boerse.<p>More than a year after the pair unveiled their planned £21bn merger, the European Commission is expected to give its objections on December 13.<p>Officials at …

London

Mourinho faces tax probe call over Sunday Times claims

<b>The tax affairs of football manager Jose Mourinho should be investigated by British officials following allegations he used off-shore companies to reduce his tax bill, a UK MP has said.</b><p>Mourinho is accused of moving millions of pounds of earnings to the British Virgin Islands to avoid paying tax.<p>The …

United Kingdom

'Unfortunately, We Tend To Cheat,' Ex-Saudi Oil Chief Says On OPEC

While it’s no secret that OPEC members in the past have not always lived up to their pledges to cut oil production, it’s still a little surprising that former Saudi-oil minister Ali Al-Naimi articulated this at an event staged by the Center for Strategic and International Studies (CSIS), a …

Oil

Philippines urges Bangladesh to share results of heist investigation

MANILA (Reuters) - The Philippine government wants Bangladesh to share the findings of its investigation into how unknown hackers pulled off one of the world's largest cyber bank heists, to help speed up recovery of the stolen funds.<p>Finance Secretary Carlos Dominguez, who last week met with a …

Bangladesh

No price like home: Big spenders reappear in China

SHANGHAI/BEIJING – China's wealthiest shoppers are spending at home again, roused from a three-year slumber by a weaker yuan, lower prices and a crackdown on overseas sales agents - a welcome boost for the world's luxury brands.<p>China's rich make up almost a third of the world's luxury shoppers, up …

China

Hi-Ho Silver, Away!

Silver prices have fallen over 22% from their July high.<p>The Silver Miners ETF has been hit even harder than the GDXJ, plunging 37% from its 52-week …

Silver

Philippines Asks for $81 Million Cyber Heist Probe Results - Bloomberg

The Philippines asked Bangladesh for the results of its investigation into a $81 million cyber heist as it commits to help the Bangladesh central …

Asia

Trump defense secretary pick serves on Theranos' board

General James Mattis pushed for the medical tech despite its many issues.<p>President-elect Trump's rapidly growing circle of advisers and cabinet members continues to raise eyebrows among the tech-savvy. The incoming leader has picked retired General James Mattis as his Secretary of Defense, and the …

James Mattis

U.S. regulator clears way for online lenders to have national charter

<i>(Reuters)</i> — Online credit companies and paperless lenders would be able to get federal charters to do business nationwide under a plan outlined on Friday by a U.S. banking regulator.<p>The Office of the Comptroller of the Currency (OCC), the main regulator for federal banks, said it hoped offering a …

United States

Why Dollar General Corporation Jumped 12% in November

Image source: The Motley Fool.<p>What happened<p>Shares of<b>Dollar General</b>(NYSE: DG) surged last month, gaining 12%, according to data from S&P Global Market Intelligence. The stock rose alongside the market during the post-election rally. As you can see from the chart below, much of the gains came in the …

Finance

Billionaire Li Ka-Shing Offers $5.4 Billion for Duet - Bloomberg

Hong Kong billionaire Li Ka-shing’s Cheung Kong Infrastructure Holdings Ltd. has offered to buy Duet Group at a premium of about 28 percent in a bid …

Li Ka-shing

‘Brotherhood of the Traveling Pants’ gives Vineyard Vines a social-media boost

<b>The big idea:</b> Shep and Ian Murray started selling neckties out of their Jeep on Martha’s Vineyard in 1998. After selling 800 ties in one weekend, the brothers knew they had an idea worth pursuing. By 2014, their company, Vineyard Vines, had 55 clothing stores in the United States and had partnered …

Instagram

Israel's Navy Sub Scandal Widens; Iranian Ties And Deal-Making Questioned

In a convoluted development intersecting the energy sector and Middle Eastern geopolitics, media in Israel is reporting that Israeli Attorney General Avichai Mandelblit has ordered a police probe into allegations that Israeli Prime Minister Benjamin Netanyahu’s personal lawyer, David Shimron, used …

Israel

Australia Losing AAA Rating Is Inevitable, Hewson Says - Bloomberg

It’s only a matter of time before Australia loses its AAA credit rating as the nation’s budget falls further into deficit, according to John Hewson, …

Australia

Former TechShop CEO Mark Hatch joins Network Society Ventures as General Partner

Early-stage venture firm Network Society Ventures has snagged TechShop’s former CEO and co-founder Mark Hatch as general partner.<p>Hatch is recognized as a pioneer of the maker movement, is a current entrepreneur in residence at UC Berkeley, and is a former Green Beret.<p>For those who don’t know it, …

Venture Capital

Ghana's self-taught skincare entrepreneur

Ghanaian businesswoman Israella Kafui-Mansu is making cosmetics and bodycare products from natural ingredients such as coconut, shea butter and fruit.<p>She started her business in 2009 after she left university and couldn't find a job. Africa Business Report went to meet her.

Skin Care

Juniper CEO Talks Amazon, Google, and Trump

Rami Rahim talks about how the networking giant is adapting in a fast-changing industry.<p>For roughly 20 years, Rami Rahim has been witness to the highs and lows of Juniper Networks.<p>After starting his career as a junior employee, the lifelong technologist with a background in electrical engineering …

Amazon

Greece needs reforms, not debt relief: Germany's Schaeuble

BERLIN (Reuters) - Structural reforms rather than debt relief will help Greece to achieve sustainable growth and stay in the euro zone because rates and repayment are putting hardly any burden on its budget, Gerany's finance minister was quoted as saying on Sunday.<p>Euro zone finance ministers will …

Europe

General Motors: Don't Fear Record Results

General Motors continues to defy expectations with strong vehicle sales and record results.<p>The stock offers an impressive yield far beyond the big …

General Motors

The trolling of Elon Musk: how US conservatives are attacking green tech

Electric-car evangelist is the target of concerted negative online campaign linked to influential rightwing network<p>He is the charismatic Silicon Valley entrepreneur who believes his many companies - including the electric car manufacturer Tesla Motors, solar power firm Solar City, and SpaceX, which …

Elon Musk

Apple's car letter: What's it driving at?

A note to a US agency is the closest we've come to official word from Apple on an autonomous car project. But it doesn't exactly shine brights on the effort.<p>Those hoping for another peep under the hood of Apple's mysterious car project are in luck. It's only a peep though.<p>In a November letter to …

Driverless Cars

Popular Chairman Saracho Said to Have Clear Path to Explore Sale - Bloomberg

Banco Popular Espanol SA’s incoming Chairman Emilio Saracho has a mandate from the board to be open to strategic options, including a sale, while …

Finance

American Airlines' Latest Big Problem Is Making Many People Very Uncomfortable

You might have noticed certain things are (even more) difficult on American flights lately.<p><i>Absurdly Driven looks at the world of business with a skeptical eye and a firmly rooted tongue in cheek.</i><p>Perhaps you've noticed the odd twitch.<p>Or maybe it's been certain unexplained red patches here and …

American Airlines

Automattic to transform WordCamp into a public-benefit corporation supporting non-profits

Automattic is seeing a steady growth in the number of sites using its WordPress content management system — 27 percent of the internet uses it today — and there’s no shortage of die-hard fans and users who gather in towns and cities around the world to support one another. The money gleaned from …

WordPress

Hercules Offshore Sold The Jack - Ups Hercules Triumph And Hercules Resilience For $130 Million

The Hercules Triumph and the Hercules Resilience have been sold to a shell corporation call "Magni Drilling limited"for $130 million in cash, which …

Finance

In Australia, a private prison company gets a bonus for every freed inmate who does not come back

Authorities in one area of Australia are trying a new tactic to fight criminal recidivism: For every former inmate who stays out of prison more than two years, the private company that ran the prison will get a cash bonus.<p>This payment scheme is taking place in West Australia, in a new women’s …

Prison

Norway Government Crisis Averted as Budget Deal Is Secured - Bloomberg

Norway’s minority government reached a budget deal with its two support parties, bringing an end to a political crisis that risked culminating in a …

Norway

Panama Struggles to Shed Its Image as a Magnet for Shady Deals

In August of last year, Panama sought to shed its image as a magnet for shady deals and narco traffickers by paying at least $2 million to host the world’s largest anticorruption conference, now taking place in Panama City.<p>At the time, it seemed like good idea.<p>Now, some prominent Panamanians aren’t …

Latin America

ASOS accused of underpaying new warehouse staff

Online fashion retailer allegedly breached employment law by restricting new temporary workers’ pay for three months longer than regulations permit<p>The online fashion retailer Asos has been accused of breaching “the spirit if not the letter” of employment law designed to prevent the exploitation of …

Employment Law

China selfie app eyes big IPO

<b>Hong Kong (CNN) —</b> They say a picture's worth a thousand words. How about $710 million?<p>China's Meitu selfie app is hoping to raise that much by selling shares for the first time. It said Friday it would price its initial public offering between 4.9 billion and 5.5 billion Hong Kong dollars ($632 …

China

Adani coal mine: green groups fume over plan for $1b federal loan

A $2.2b rail link to the huge Carmichael project has gained conditional approval for commonwealth funding<p>The environmental movement is up in arms over a move towards federal funding of up to $1b for a railway that will serve Adani’s proposed Queensland coal mine.<p>A $2.2b rail link to Adani’s huge …

Mining