JPMorgan’s top economist differs with Jamie Dimon on job outlook

When it comes to the Trump tax plan, JPMorgan Chase isn’t buying what its own CEO is selling. The biggest US bank’s top economist is predicting that the Congressional tax reform bill will only add about “about 200,000 jobs” — a mere 10 percent of a 2-million-job forecast JPMorgan

Why Disney’s Fox purchase should be a huge boost to ESPN

ESPN, which has struggled in recent quarters with declining subscribers, could soon get a shot in the arm. If Washington regulators approve Disney’s acquisition of a large part of Twenty-First Century Fox’s assets without forcing any divestitures, ESPN will gain 22 regional sports networks. Those RSNs hold the broadcast rights

Singer tightens grip on Hess for ‘continuing underperformance’

Four years after he first battled Hess, activist investor Paul Singer is once again rattling the cage of the oil-and-gas giant. Citing the “continuing underperformance” of the $13 billion company, Singer’s Elliott Management is pushing for major changes at Hess, which could include the ouster of second-generation CEO John

Trump seems happy about Disney’s purchase of Fox

Investors weren’t the only ones happy with the Disney-Fox deal on Thursday — President Trump appeared to be a fan, too. see also Trump called Fox Executive Chairman Rupert Murdoch right after the deal was announced to congratulate him, White House spokeswoman Sarah Huckabee Sanders told reporters. “The president spoke with

Disney completes mega-deal for 21st Century Fox entertainment assets

It’s official: Bart Simpson and the X-Men are moving to Disney. Walt Disney has struck a deal to buy film, television and international businesses from Rupert Murdoch’s Twenty-First Century Fox for $52.4 billion in stock as the world’s largest entertainment company seeks even greater scale to combat growing digital

Ugg boot maker fends off activist investor

The company that makes Ugg boots just brushed off an ugly attack from an activist investor. Deckers Outdoor said Thursday that shareholders re-elected all nine of its board members, rejecting three nominees from hedge fund Marcato Capital, which had been prodding the company to either sell itself or spin

How a $52B deal puts The Simpsons and Mickey Mouse under one roof

In a blockbuster deal that could help reshape the media landscape, Disney will acquire a majority of the assets of Twenty-First Century Fox — including its storied Hollywood studio, its TV studio and 22 regional sports networks. The all-stock $52.4 billion deal will help Disney Chief Executive Bob Iger’s

Why comic-book fans are stoked about Disney’s $52B Fox deal

Welcome home, Magneto. Long time no see, Mystique. Disney’s deal to buy the 20th Century Fox movie assets means the X-Men will be reunited with their Marvel comics pals like Captain America and Iron Man. In announcing the deal, Disney promised Magneto, Mystique and the rest of the X-Men would

Historic NYC eatery Lindy’s prepares to close up shop

Another piece of the Big Apple’s culinary history is biting the dust. The last Lindy’s — a deli-style restaurant that was once famous for its insulting waiters and its cheesecake — is preparing to close on Feb. 7, according to a government filing. At Seventh Avenue at W. 53rd Street,

Ugg boot maker fends off activist investor

The company that makes Ugg boots just brushed off an ugly attack from an activist investor. Deckers Outdoor said Thursday that shareholders re-elected all nine of its board members, rejecting three nominees from hedge fund Marcato Capital, which had been prodding the company to either sell itself or spin off lesser-known

NY Times publisher to step aside for 37-year-old son

New York Times publisher Arthur “Pinch” Sulzberger Jr. said Thursday he will relinquish his post at year’s end and hand it to 37-year-old son, Arthur Gregg “AG” Sulzberger. The younger Sulzberger had been the deputy publisher and outmaneuvered rival family members, including Sam Dolnick and David Perpich, to keep

Net neutrality is dead

WASHINGTON — The US Federal Communications Commission voted along party lines Thursday to repeal landmark 2015 rules aimed at ensuring a free and open internet, setting up a court fight over a move that could recast the digital landscape. The approval of FCC Chairman Ajit Pai’s proposal marks a

Net neutrality is dead

WASHINGTON — The US Federal Communications Commission voted along party lines Thursday to repeal landmark 2015 rules aimed at ensuring a free and open internet, setting up a court fight over a move that could recast the digital landscape. The approval of FCC Chairman Ajit Pai’s proposal marks a

The FCC is about to kill net neutrality

The US Federal Communications Commission is expected on Thursday to rescind net neutrality rules championed by Democratic former President Barack Obama that barred the blocking or slowing of internet traffic. The 2015 rules barred broadband providers from blocking or slowing access to content or charging consumers more for certain

T-Mobile plans to launch its own TV service next year

T-Mobile US will launch a new television service in 2018 and acquire television technology company Layer3 TV for an undisclosed amount as part of its plans, it said on Wednesday. The No. 3 US wireless carrier’s announcement comes after its board last week approved its first-ever buyback program, a

Target purchases grocery delivery service for $550M

What the truck is going on with big box retailers? Target on Wednesday became the latest big boxer to join the equivalent of the arms’ race for retailers — same-day delivery — with its purchase of Shipt, a grocery delivery service. Target made the $550 million deal to compete in

‘Free’ Starbucks wi-fi caught mining for Bitcoin

Did you know that when you’re logging into the wi-fi at Starbucks, you could have code installed on your laptop that is used to mine for Bitcoin? This is what recently happened to one man who stumbled across the code after joining the store’s wi-fi. The complaint was addressed by

Fed hikes rates by a quarter point

The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, as anticipated, but left its rate outlook for the coming years unchanged even as policymakers projected a short-term acceleration in US economic growth. Having raised its benchmark overnight lending rate three times this year,

Janet Yellen just gave Trump a bag of coal for Christmas

Janet Yellen gave President Trump a parting Christmas “gift” — of the bag of coal variety — in her final action as head of the Federal Reserve: a quarter-point interest rate hike and the promise of three more next year until the Fed funds rate is above 3

Struggling Subway is now facing a franchisee revolt

Subway is staring down at a menu of scary problems that’s way more than a foot long. The struggling sandwich chain has seen customer traffic plummet a whopping 25 percent over the past five years amid fierce price competition and a slew of scandals that have battered its image,

Walmart workers can request to get paid earlier on special app

NEW YORK — Walmart is providing workers with an app aimed at helping them budget their money and get paid before payday. The retailer said Wednesday that it teamed up with financial technology startup Even and PayActiv to provide an app to 1.4 million Walmart workers. The Even app automatically

T-Mobile acquires internet-based TV service

The future of television is online — and T-Mobile is trying to get in on the action. In a move to take on the cable industry as well as its wireless rivals, T-Mobile acquired Layer3 TV, an internet-based TV service, the country’s No. 3 wireless carrier said Wednesday. Terms of

Miami penthouse on sale for 33 bitcoin — cash not accepted

Attention bitcoin millionaires ready to spend your coins: here’s a very real-world purchase option — no traditional cash required. A Miami penthouse was listed on real estate site Redfin Corp. for 33 bitcoin — and that’s the only form of payment the listing says the seller will accept. Thirty-three

Amendment to withdraw cash from IRAs needs restrictions

Yes, Senator Inhofe, allowing Americans to dip into their retirement accounts at a reduced tax rate would help the economy and give the Treasury a windfall. But, no, that idea didn’t originate from the radio show host who you are crediting. I got a heads-up from an incensed reader who

Hotshot banker thankful for ‘fantastic’ decision on $17M SEC case

Guy Gentile, the hotshot banker whose angry ex-girlfriend drove his Mercedes-Benz into the pool of his Bahamas home, beat a $17 million civil fraud case brought by the federal government on Wednesday. see also When New Jersey federal court Judge Jose L. Linares tossed the Securities and Exchange Commission suit

Apple spends $390 million to build iPhone chip plant in Texas

Apple said on Wednesday it would invest $390 million in Finisar, which it will use to build out a plant in Texas to make chips that power popular iPhone features such as face ID, animojis and portrait-mode selfies. The award will be part of Apple’s $1 billion “Advanced Manufacturing

Two companies will suck up half of tech’s profits in 2018

On the whole, tech giants are poised to deliver “stable” revenue and profit in 2018, but Apple and Microsoft are expected to be the main reasons for continued earnings growth. According to an analysis from Moody’s released Tuesday, big tech is projected to boost revenue by 3.5 percent to

T-Mobile plans to launch its own TV service next year

T-Mobile US will launch a new television service in 2018 and acquire television technology company Layer3 TV for an undisclosed amount as part of its plans, it said on Wednesday. The No. 3 US wireless carrier’s announcement comes after its board last week approved its first-ever buyback program, a