Redstone to Leave Viacom Board -- WSJ
Shutterstock photo By Keach Hagey and Imani Moise Sumner Redstone will step down from the Viacom Inc. board of directors in February, the company said Friday, though he will retain his chairman emeritus title. Mr. Redstone, who is 93 years old and in poor health, controls Viacom and CBS Corp. through a roughly 80% voting stake in each. Earlier this year, he gave up his executive chairman role on the boards of both companies, taking the title of chairman emeritus but keeping his ..>> view originalBP strikes deal for 10 percent stake in Abu Dhabi's ADCO concession
DUBAI BP (BP.L) became the second Western oil major to renew a 40-year onshore concession in Abu Dhabi on Saturday after almost two years of negotiations to improve terms to help operate the United Arab Emirates' biggest oilfields.The British oil company signed an agreement with state-run Abu Dhabi National Oil Company (ADNOC) giving it a 10 percent stake in the Abu Dhabi Company for Onshore Petroleum Operations (ADCO), which operates the concession."BP becomes a 10 percent shareholder in ADC..>> view originalVenezuela's crazy currency swap looks like alchemy, not economics
People line up to withdraw cash from an automated teller machine outside a Banco de Venezuela branch in Caracas on Dec. 12. (Marco Bello/Reuters) CARACAS, Venezuela — President Nicolás Maduro appears to have accomplished something this week that no one, and certainly no economist, would have thought possible. He has created a huge demand for the country’s long-slumping national currency, the bolívar. In a matter of days, the country with the world’s highest inflation rate, whose citizens wer..>> view originalTrumponomics will meet its match with the greenback and the Madam Chair
Exports now make up around 13 percent of U.S. gross domestic product. U.S. multinationals will also find it more expensive to convert foreign earnings to dollars. Trump himself showed concern over both factors earlier this year. "If we raise interest rates and the dollar gets too strong, we're going to have some major problems," he said on CNBC in May. Some analysts interpreted the Fed's actions and language this week as mostly dovish. Rates remain historically low, and moving to three exp..>> view originalYahoo discloses biggest breach in history (for a second time) video - CNET
Repealing the ACA means tax cuts for high-income households, raised taxes for others
Repealing the Affordable Care Act would cut taxes significantly for the highest income one percent of US households, according to a new Tax Policy Center analysis. At the same time, it would raise taxes on average for low- and moderate-income households.The ACA includes several different tax provisions. On one side of the ledger is the large refundable tax credit that subsidizes insurance premiums for many people who buy coverage on the ACA’s health exchange. On the other side: tax increases de..>> view originalA Charity Auction for Coffee With Ivanka Trump Appears to Be Canceled
The auction for a chance to spend up to 45 minutes with Ms. Trump over coffee at either Trump Tower in New York or the recently opened Trump International Hotel in Washington was to continue for another three days. As of Friday morning, the high bid was $72,888. Got a confidential news tip? The New York Times would like to hear from readers who want to share messages and materials with our journalists. But then the auction disappeared from the Char..>> view originalHarlem Deer Caught in City-State Tussle Has Died
The buck had spent two weeks attracting adoring, snack-proffering crowds at Jackie Robinson Park, where he often was seen near a chain-link fence across the street from a bodega. How he traveled to a park in the middle of a crowded Manhattan neighborhood remains unclear. Around 4 a.m. Thursday, the buck jumped a fence into the courtyard of the Polo Grounds Towers, a public housing complex north of the park. The police were called, and they tranquilized and captured him, calling him a danger to..>> view originalLawsuits filed over Corpus Christi water problem
CORPUS CHRISTI, Texas (AP) -- Several lawsuits have been filed after a chemical leak from an asphalt plant led Corpus Christi officials to warn residents this week not to drink the water. The Corpus Christi Caller-Times (http://bit.ly/2hE1UHn ) reports more than half a dozen lawsuits have been filed against Ergon Asphalt and Emulsion Inc. and Valero since city officials alerted residents to the leak late Wednesday. Ergon spokesman Bill Miller says the company's been leasing the plant for its m..>> view originalDon't be fooled: Mylan's 'bargain' price for its generic EpiPen conceals a massive price hike
Mylan, which showered itself in infamy by jacking up the price of its EpiPen, a potentially life-saving epinephrine injector, by 500% over less than a decade, announced Friday that it is finally bringing out a promised generic version of the device for $300 per two-pack. That compares with more than $600 for the branded package.Some news reports described this as “a more than 50% discount.” That’s incredibly misleading, which is exactly what Mylan hoped. In fact, the device will still cost thre..>> view original
Saturday, December 17, 2016
Redstone to Leave Viacom Board -- WSJ and other top stories.
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