Money

Time to resurrect First Boston?

Why banks are looking to spy movies for answers Could First Boston make a comeback on Wall Street? Credit Suisse, which took control of the American bank in the 1980s, is facing calls to overhaul its business. According to reports, that could include spinning off a resurrected First Boston. RBR Capital Advisors, a boutique Swiss hedge fund, confirmed Tuesday that it’s pressing Credit Suisse(CS) to shake up its strategy. The Financial Times reported that RBR wants the Swiss bank to break itself up into three separate parts — an investment ...

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Google drones will drop burritos into people's yards in Australia

See Domino’s inaugural pizza drone delivery test Drones bearing piping hot burritos are about to start swooping down on the Australian countryside. At least, that’s the plan for Google affiliate Project Wing, which on Tuesday announced new tests of its drone delivery service with two Australian businesses, a Mexican taqueria chain and a drugstorecompany. It’s not the first time the Project Wing team has used drones to send people burritos. It did that last year with Chipotle at Virginia Tech University, but that was “in an open field, not to ...

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China shuts down billionaire's golf courses

China’s richest man’s Hollywood ambitions It’s a double bogey for Chinese real-estate tycoon Wang Jianlin. Authorities have shut down two high-end golf courses at a resort in northeastern China operated by Wang’s company, Dalian Wanda Group. The closures are the latest case of Chinese government officials cracking down on golf, which has become a symbol of the political corruption against which President Xi Jinping has been waging a massive, high-profile campaign. They also represent a fresh setback for Wanda, which has found parts of its businesses under pressure from authorities ...

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How much could Colin Kaepernick win in his collusion case against the NFL?

Jeffrey Toobin: Collusion is difficult to prove Colin Kaepernick isn’t playing this season, and that’s costing him millions. Kaepernick had started the National Anthem protests that are now roiling the NFL. He hasn’t been signed by a team since. In a grievance filed against the league, he alleges that NFL teams colluded not to sign him due to his controversial protest. Whether he isn’t playing because of his politics or his playing ability is debatable. But the fact is, Kaepernick made $ 14.3 million with the San Francisco 49ers in ...

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No deal? A messy Brexit would cost U.K. families $345 a year

UK, EU head to ‘court’ over Brexit Britain needs a new trade deal with the EU. If it fails to secure one as part of divorce talks with Brussels, a study published Tuesday predicts that higher prices will cost British households an extra £260 ($ 345) a year. The study, produced by the U.K. Trade Policy Observatory and the Resolution Foundation, predicts that 3 million of the hardest-hit families will have to fork out over £500 ($ 664). Failing to agree a new trade relationship before leaving the EU in ...

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Facebook acquires beloved teen app 'tbh'

Facebook unveils standalone VR headset, Oculus Go Facebook just nabbed a popular new teen app called tbh. Teens have been flocking to the app — named after the acronym frequently used in texts, “to be honest” — to participate in anonymous polls and give feedback to friends. The app creators control the content of the polls, like “Best person to go on a roadtrip with.” It’s a measure that’s meant to keep the sentiments expressed on the app positive, which is something that other anonymous apps have struggled with. The ...

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California will make one year free at community colleges

How to talk to your kid about paying for college California just became the latest state to reduce the cost of a public college education. Governor Jerry Brown signed a bill Friday that will make one year free for students at the state’s 114 community colleges, so long as they are residents and new students who are enrolled full-time. It follows similar legislation adopted in New York and Rhode Island this year. California has one of the biggest community college systems in the country and it was already one of ...

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Venezuela is blaming Trump for missed debt payments

U.S. sanctions Venezuelan president Venezuela didn’t pay its bills last week. It also owes a lot more money very soon as it spirals further into chaos. The country’s government and its state-run oil company missed five small debt payments last week totaling $ 349 million, according to three experts who closely follow the debt. Delayed payments are becoming increasingly common for the country’s bondholders. But a new excuse is surfacing: President Donald Trump and the financial sanctions his administration imposed on Venezuela in August. The government hasn’t commented on why ...

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Al Michaels apologizes for Harvey Weinstein joke during 'Sunday Night Football'

‘SNL’ takes on Harvey Weinstein NBC sportscaster Al Michaels apologized for making a joke about Harvey Weinstein during “Sunday Night Football.” The New York Giants, who were playing the Denver Broncos, came into the game winless and with a star receiver injured. During the third quarter, Michaels said, “Let’s face it, the Giants are coming off of a worse week than Harvey Weinstein, and they’re up by 14 points.” Cris Collinsworth, Michaels’ partner on the broadcast, chuckled at the line and said, “Only my L.A. guy comes up with that ...

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Misery in Puerto Rico: No power, no job, 'enormous' lines

Trump tweets: ‘We cannot keep FEMA…in P.R. forever!’ Leslie Cofresi started to cry when he saw his staff the day after Hurricane Maria hit Puerto Rico. With no electricity or running water in their own homes, all 25 employees came to help clean up the bar, La Factoria, which was recently named one of the world’s 50 best bars. Located in Old San Juan, La Factoria is also where the music video for the mega hit song “Despacito” was filmed. But nearly a month after Hurricane Maria, Puerto Rico’s most ...

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