New York Posts – Business

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  • Pilgrim’s Pride bids on Hain Celestial’s protein business: source
    by Josh Kosman on June 22, 2018 at 2:29 am

    Pilgrim’s Pride is bidding for Hain Celestial’s protein business, a source close to the process told The Post. Hain, run by CEO Irwin Simon, is in the process of selling Hain Pure Protein, its chicken and turkey division, to make its remaining snack food company more attractive to a buyer, an informed source explained. Pilgrim’s... […]

  • Supreme Court rules SEC in-house judges unconstitutional
    by Carleton English on June 22, 2018 at 2:25 am

    A financial radio host and investment adviser scored a big win on Thursday when the Supreme Court ruled that administrative judges appointed by low-level staffers are unconstitutional. The 7-2 decision could have far-reaching ramifications as there are roughly 2,000 administrative judges meting out civil justice across the US. President Trump backed the case brought by... […]

  • Comcast, Disney ding balance sheet in bidding war for 21st Century Fox
    by Richard Morgan on June 22, 2018 at 2:16 am

    The battle for Fox is going to put a big dent in the winner’s balance sheet. Disney’s raising its offer to $38 per share on Wednesday already has the Mouse House in the dog house. Moody’s Investors Service responded to the $10-a-share increase by putting the company’s debt “on review for downgrade.” After crunching the... […]

  • What the Supreme Court sales tax ruling means for New Yorkers
    by Max Jaeger on June 22, 2018 at 12:58 am

    New Yorkers will soon have nowhere to hide from the steep sales tax. The state can now force all online retailers to collect the 8.875 percent combined state and city sales tax on purchases made by Big Apple residents, according to a US Supreme Court ruling Thursday. The 5-4 decision overturned the 1992 Quill Corp.-vs.-North... […]

  • Dwindling cash not a concern for MoviePass CEO
    by Nicolas Vega on June 22, 2018 at 12:10 am

    Things are looking grim for MoviePass as the service is down to about one month of cash on hand, but you won’t see CEO Mitch Lowe worrying. The same day that the $9.95-a-month all-you-can-watch subscription service revealed in an SEC filing that it expects to have lost at least $85 million dollars in May and... […]

  • Big banks pass first round of Fed’s annual stress test
    by Reuters on June 21, 2018 at 9:17 pm

    The 35 largest US banks have all cleared the first stage of an annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements, the Federal Reserve said on Thursday. Although the banks, including household names like JPMorgan Chase, Citigroup and Bank of America, would suffer... […]

  • Jefferies expands risky bond-trading desk with latest hire
    by Kevin Dugan on June 21, 2018 at 8:45 pm

    Jefferies is doubling down on one of its riskiest bond-trading desks by hiring a top salesman from Angelo Gordon & Co. — just as Wall Street is preparing to binge on new issues of the junky assets, The Post has learned. Michael Pope, a former managing director at Angelo Gordon who was a senior distressed... […]

  • Supreme Court says states can force online shoppers to pay sales tax
    by Lisa Fickenscher on June 21, 2018 at 3:32 pm

    The 5-4 ruling Thursday is a win for states, who said they were losing out on billions of dollars annually under two decades-old Supreme Court decisions that impacted online sales tax collection. […]

  • Intel CEO resigns over relationship with employee
    by Nicolas Vega on June 21, 2018 at 2:16 pm

    The CEO of chip giant Intel stepped down Thursday following the revelation that he had an affair with a subordinate. Brian Krzanich, who took over Intel in 2013 and saw its stock price rise more than 120 percent during his tenure, offered his resignation after the company discovered the 58-year-old exec had a “consensual relationship... […]

  • Kroger profits from online, delivery expansion
    by Reuters on June 21, 2018 at 2:15 pm

    Kroger on Thursday raised the lower end of its full-year earnings forecast and posted better-than-expected quarterly profit, as investments in online and delivery services paid off, sending its shares up nearly 10 percent in early trading. Kroger — the largest US supermarket chain by stores and sales — has been closing underperforming stores and shifting... […]

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