Category Archives: business

Visa’s investment in Square represents about 1 percent stake

SAN FRANCISCO (NEWS.GNOM.ES) – Visa Inc , the world’s largest credit and debit card company, said on Friday it currently has about a 1 percent stake in mobile payments company Square Inc based on a 2011 investment. Continue reading

Loeb says Third Point raised short bets to avoid losses

By Svea Herbst-Bayliss By Svea Herbst-Bayliss BOSTON (NEWS.GNOM.ES) – Billionaire investor Daniel Loeb has told clients his firm has taken more defensive bets in the face of tumbling markets by dramatically increasing its short positions, which helped Third Point avoid “calamitous” losses last year. The fund manager also said the firm cut stakes in companies that were exposed to China and commodity prices, which have fallen sharply. “A renewed focus on generating alpha on both sides of the portfolio has led us to increase single-name equity shorts by four-fold over the past year Continue reading

Twitter says Dorsey continues to forego direct compensation

(NEWS.GNOM.ES) – Twitter Inc Chief Executive Jack Dorsey has agreed to continue to forego any form of direct compensation, a regulatory filing by the company showed on Friday. Dorsey in June agreed to no salary until the company’s compensation committee agreed upon a package for him. Continue reading

Alabama Shakes ready to rock at Grammy Awards

By MESFIN FEKADU, AP Music Writer LOS ANGELES (AP) — Brittany Howard of Alabama Shakes remembers being a nervous, fresh-faced, first-time nominee at the Grammys back in 2013. “It was all (like), ‘Well, what’s going to happen Continue reading

Bank of America chief Moynihan gets 11.5 percent pay hike

By Dan Freed By Dan Freed (NEWS.GNOM.ES) – Bank of America Corp raised Chairman and Chief Executive Officer Brian Moynihan’s compensation by 11.5 percent in 2015, a year the bank more than doubled its profits. Moynihan’s total compensation was $14.5 million, up from $13 million for 2014 Continue reading

Exclusive: Boeing nears decision to self-fund more F/A-18 fighters

By Andrea Shalal By Andrea Shalal WASHINGTON (NEWS.GNOM.ES) – Boeing Co is nearing a decision to invest “a significant amount” to keep a F/A-18E/F fighter jet production line in St. Louis running as it waits for the U.S Continue reading

Argentine farmers take Monsanto seed complaint to regulators

BUENOS AIRES (NEWS.GNOM.ES) – Argentina’s main farm group on Friday took complaints against Monsanto Co to local regulators, accusing the company of abusing its dominant position in the market by ordering exporters to inspect soy cargos for second-generation genetically modified seeds. Monsanto’s Intacta soybeans have a gene that allows the soybean plant to protect itself against crop-devouring worms. The Argentine Rural Society (SRA), which represent medium to large scale producers, filed the complaint before the National Commission for the Defense of Competition. Continue reading

Mattel names new head of Barbie business

(NEWS.GNOM.ES) – Toy maker Mattel Inc on Friday named a new head for its Barbie business as it seeks to reignite sales of its iconic dolls after two years of declines. Lisa McKnight, a marketing veteran at Mattel, will replace Evelyn Mazzocco, who has run the business since 2014, the company said. McKnight is the senior vice president of marketing for North America, according to her LinkedIn profile. Continue reading

Tougher lending standards pose risk to outlook for Fed

By Jason Lange By Jason Lange WASHINGTON (NEWS.GNOM.ES) – A recent tightening of credit for U.S. companies is threatening to undermine economic growth, making it less likely the Federal Reserve will raise interest rates anytime soon. Fed Chair Janet Yellen said this week it was still too soon for the central bank to change its view that rate hikes are needed, a position supported by a still-robust pace of hiring that is helping consumers borrow more readily Continue reading

Late-day buying could be start of turnaround

By Chuck Mikolajczak By Chuck Mikolajczak NEW YORK (NEWS.GNOM.ES) – As U.S. stocks continue to struggle in 2016, equities are showing some signs selling pressure may be reaching an end. The S&P 500 is down about 13 percent from its record high in May, as oil remains mired below $30 a barrel, while concerns about stability among banks and uncertainty about the U.S. Continue reading