Ellen Pao resigned as acting chief executive of Reddit Friday in the latest sign of turmoil at the site, recently roiled by the firing of a popular employee and ongoing tensions over the limits of free speech on its social-news platform. Reddit co-founder Steve Huffman, also a co-founder of travel site Hipmunk, will become chief executive. Alexis Ohanian, another co-founder who has been working as executive chairman of reddit, will
WASHINGTON/SAN FRANCISCO (Reuters) – U.S. government antitrust regulators are looking into claims about whether Apple’s treatment of rival streaming music apps is illegal under antitrust law, according to three industry sources. Apple recently launched a new music streaming service, Apple Music. It also provides the App Store platform for competing streaming services including Jango, Spotify, Rhapsody and others.
NEW YORK/CHICAGO (Reuters) – When Donald Trump described Mexican immigrants as rapists and drug smugglers last month, Latinos took to social media to express their outrage and urge businesses to sever ties with the billionaire presidential candidate. In short order, more than 10 organizations canceled their deals with Trump, in what Latino activists are calling an unprecedented recognition of their economic clout. “Latino millennials have purchasing power and they’re not
NEW YORK/WASHINGTON (Reuters) – U.S. insurance regulators and state attorneys general are lining up to scrutinize Aetna Inc’s proposed $33 billion takeover of rival Humana Inc for potential harm to consumers, complicating what is already expected to be a tough and lengthy review by federal antitrust authorities. Insurance commissioners in 18 states including Texas, Kentucky and Florida will study merger documents provided by Humana to determine whether the deal will
United Technologies last month announced it was exiting the helicopter area and would either sell Sikorsky or spin it off, following a review of strategic alternatives. Reuters reported on Wednesday that Lockheed and Textron Inc (TXT.N) had emerged as final contenders to buy Sikorsky, with a decision possible by the end of the month. United Tech could still instead seek to spin off the business, the sources said.
United Technologies last month announced it was exiting the helicopter area and would either sell Sikorsky or spin it off, following a review of strategic alternatives. Reuters reported on Wednesday that Lockheed and Textron Inc (TXT.N) had emerged as final contenders to buy Sikorsky, with a decision possible by the end of the month. United Tech could still instead seek to spin off the business, the sources said.
At least five former traders are under investigation for their role in rigging the U.S. dollar version of the interest-rate benchmark, Bloomberg said. Spokesmen from the Justice Department and Deutsche Bank declined to comment.
At least five former traders are under investigation for their role in rigging the U.S. dollar version of the interest-rate benchmark, Bloomberg said. Spokesmen from the Justice Department and Deutsche Bank declined to comment.
A U.S. federal judge on Friday dismissed a lawsuit by former Lehman Brothers Holdings Inc employees seeking to hold onetime Chief Executive Richard Fuld liable for their retirement plan losses as the Wall Street bank plunged into its 2008 bankruptcy. U.S. District Judge Lewis Kaplan in Manhattan rejected claims that Fuld breached an obligation to share what he knew about Lehman’s fast-deteriorating finances with officials who oversaw the plan, where
A U.S. federal judge on Friday dismissed a lawsuit by former Lehman Brothers Holdings Inc employees seeking to hold onetime Chief Executive Richard Fuld liable for their retirement plan losses as the Wall Street bank plunged into its 2008 bankruptcy. U.S. District Judge Lewis Kaplan in Manhattan rejected claims that Fuld breached an obligation to share what he knew about Lehman’s fast-deteriorating finances with officials who oversaw the plan, where
