Business

Business

Uber is sued over massive data breach after paying hackers to keep quiet

(c) 2017, The Washington Post. After Uber revealed that it paid hackers $100,000 to keep quiet about stealing the personal information of 57 million customers and drivers, the company is now facing at least three potential class action lawsuits and separate investigations by the attorneys general...


Business

Amazon merchants still find new ways to cheat in shopping frenzy

(c) 2017, Bloomberg. Mike Molson Hart, who sells toys on Amazon.com Inc.‘s marketplace, realized earlier this month something was amiss. His company’s popular disc-shaped plastic building set, called Brain Flakes, had dropped precipitously in the ranks of Amazon’s best-selling toys as the critical...


Business

Bezos fortune hits $100 billion on Black Friday stock surge

(c) 2017, Bloomberg. Jeff Bezos is the world’s newest $100 billion mogul. The Amazon.com founder’s fortune is up $2.4 billion to $100.3 billion as the online retailer’s shares jumped more than 2 percent on optimism for Black Friday sales. Online purchases for the day are up 18.4 percent over last...


Business

Global coconut production stagnates even as stars push sports drinks

(c) 2017, Bloomberg. A delayed shipment has British grocers and breakfast spots falling victim to a global shortage caused by surging demand after celebrities like singer Rihanna and actor Jessica Alba promoted rival coconut-water brands as sports drinks. The shortage has forced a breakfast dish...


Business

Trump to meet with Senate Republicans ahead of crucial tax votes

(c) 2017, The Washington Post. WASHINGTON - President Donald Trump will meet with Senate Republicans on Tuesday ahead of crucial votes in the GOP effort to pass a massive tax cut package, as conservatives move even closer to notching a major legislative victory. The meeting will come during a...


Business

Australia faces housing hangover twice size of U.S. subprime

(c) 2017, Bloomberg. The party is finally winding down for Australia’s housing market. How severe the hangover is will determine the economy’s fate for years to come. After five years of surging prices, the market value of the nation’s homes has ballooned to $5.6 trillion (A$7.3 trillion) -- or...


Business

Japan Inc.'s prowess tainted as another firm says data faked

(c) 2017, Bloomberg. Japan’s reputation for manufacturing prowess took another hit as Mitsubishi Materials admitted it falsified data on some products just weeks after a similar scandal engulfed Kobe Steel. Buyers of Japanese industrial goods from Boeing to Airbus were once again scrambling to...


Business

Tesla's newest promises break the laws of batteries

(c) 2017, Bloomberg. Elon Musk knows how to make promises. Even by his own standards, the promises made last week while introducing two new Tesla vehicles-the heavy-duty Semi Truck and the speedy Roadster-are monuments of envelope pushing. To deliver, according to close observers of battery...


Business

World's biggest wealth fund turns attention to fashion houses

(c) 2017, Bloomberg. After focusing on industries like coal and weapons, Norway’s $1 trillion sovereign wealth fund is turning its attention to fashion. Together with UNICEF, the world’s biggest wealth fund is setting up a network with some of the top fashion companies to improve children’s rights,...


Business

Tangled incentives push drugmakers away from an opioid solution

(c) 2017, Bloomberg. For the drug industry, building a better pain pill is a problem. Pharmaceutical companies have introduced new medicines to treat dependence, reverse overdoses, and deal with opioids’ side effects. But few effective and economically viable alternatives to addictive painkillers...


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