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
Skeptical European finance ministers gathered on Saturday to decide whether to negotiate a third bailout for Greece after Prime Minister Alexis Tsipras won lawmakers’ backing for painful austerity measures his leftist party was elected to prevent. With Athens staring at a bankruptcy that could see it crash out of the euro zone after financial markets reopen on Monday, EU officials forecast agreement would be reached by the end of the
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
As companies in the benchmark Standard & Poor’s 500 begin to release lackluster second quarter results, rich valuations threaten to keep the U.S. stock market spinning in place. At 16.5 times forward estimates, the S&P 500, up less than 2 percent for the year to date through midday Friday, is about 10 percent more expensive than its historic average of 15, according to Thomson Reuters estimates. At a time when
Federal Reserve chair Janet Yellen on Friday said she expects the Fed to raise interest rates at some point this year, but pointed strongly to her concerns that U.S. labor markets remain weak and that more workers could be encouraged back into the job market with stronger growth. In her speech Yellen gave no direct hint about whether she anticipates more than one rate hike over the Fed’s four remaining
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
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