Business

The cryptocurrency market will strengthen after bitcoin alternatives that lack substance have failed, a former chief executive and co-founder of Ethereum said. “My personal opinion is that we’re going to see a consolidation after a crash,” Charles Hoskinson told CNBC in an interview Friday. Hoskinson now runs blockchain research firm IOHK, but was previously in
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Kohl’s on Monday reported same-store sales during the holidays climbed nearly 7 percent from 2016. Recent initiatives including partnering with Amazon and bringing in more items from popular athletic apparel brands Under Armour, Nike and Adidas are paying off for Kohl’s, which said more people have been shopping its stores. The department store chain’s shares
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In wake of Attorney General Jeff Sessions‘ repeal of Obama era guidance on legal marijuana, Denver Mayor Michael Hancock is more worried about the marijuana business than he is about a law enforcement crackdown on weed. “When we see an industry, that is dependent upon investors, people who are putting their hard-earned money into the
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A subsidiary of Canada’s Brookfield Asset Management plans to acquire Westinghouse Electric, the bankrupt nuclear services company owned by Toshiba, for $4.6 billion. Brookfield Business Partners said in a statement on Thursday that it and institutional partners would use $1 billion of equity and $3 billion of long-term debt financing to buy the Pittsburgh-based business,
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Brian Snyder | Reuters A notice board shows cancelled flights at Logan International Airport during a winter snow storm in Boston, Massachusetts, U.S., January 4, 2018. A massive winter storm is moving out of the northeastern U.S. region, but flight disruptions will continue through the end of the week. Airlines canceled 614 flights scheduled for
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Little by little, Macy’s is beginning to close some of the roughly 30 stores it previously announced were on the chopping block. So far, 11 stores have been identified for closure, and four of those stores’ teams have been notified, the company told CNBC Wednesday. About this same time last year, Macy’s posted disappointing holiday
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Former Trump campaign chairman Paul Manafort has sued special counsel Robert Mueller, Deputy Attorney General Rod Rosenstein and the Department of Justice in U.S. federal court, alleging that Mueller has strayed beyond the scope of the investigation he was authorized to pursue. Manafort’s suit also alleges the order appointing Mueller exceeds the deputy attorney general’s
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But the off-grid water movement has become more than the fringe phenomenon it once was, with sophisticated marketing, cultural cachet, millions of dollars in funding and influential supporters from Silicon Valley. One recent morning in the hills of Berkeley, Calif., Cody Friesen, the founder and chief executive of Zero Mass Water, was inspecting water collection
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Technology is fuelling a new wave of workplace sexual harassment, as social media provides intimate details of workers’ personal lives and systems deployed by some companies allow would-be stalkers to track their colleagues’ location in real time. The role of new technologies in enabling workplace sexual harassment emerged in readers’ responses to a Financial Times’
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Caterpillar Inc. has long used a subsidiary in Geneva, Switzerland, called Caterpillar SARL, to process sales and profits for international orders, and the IRS wants the heavy-machinery maker to pay a $2 billion tax bill on that business, according to The Wall Street Journal. Although the company maintains that its Swiss strategy, which results in
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In a New Year telegram to U.S. President Donald Trump, Russia’s President Vladimir Putin says a constructive dialogue between the two nations is essential for global stability. The Kremlin said Saturday that Putin emphasized in his Seasons Greetings to Trump that Russia and the U.S. could develop a “pragmatic cooperation aimed at long-term perspective” on
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