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Tinder founders sue parent IAC, saying it owes them billions

August 14, 2018 by  
Filed under News

A group of founders, executives and early employees of Tinder on Tuesday sued IAC/InterActiveCorp , claiming the parent company deliberately undervalued the dating app to avoid paying them billions of dollars and deprived some employees of stock options.


Source: Reuters Business News

Tesla forms three-member panel to decide on any Musk proposal

August 14, 2018 by  
Filed under News

Tesla Inc’s board named a special committee of three directors on Tuesday to evaluate possibly taking the electric carmaker private, although it said it had yet to see a firm offer from the company’s chief executive, Elon Musk.


Source: Reuters Business News

A look at Tesla's nine-member board

August 14, 2018 by  
Filed under News

Tesla Inc’s board has named a special committee of three directors to negotiate with Chief Executive Elon Musk on taking the electric car maker private, although it said it was yet to see a firm offer from him.


Source: Reuters Business News

Einhorn's Greenlight cuts back many top holdings, slices Apple

August 14, 2018 by  
Filed under News

Billionaire investor David Einhorn, whose Greenlight Capital is posting some of the hedge fund industry’s worst returns, cut back several long-term holdings, including Apple Inc , Voya Financial Inc and Consol Energy Inc , a filing made on Tuesday shows.


Source: Reuters Business News

Home Depot second-quarter sales bounce back, results top estimates

August 14, 2018 by  
Filed under News

Home Depot Inc’s profit and revenue topped estimates on Tuesday despite signs of a slowdown in the housing market, boosted by a rebound in demand for seasonal products and as shoppers spent more to remodel their homes.


Source: Reuters Business News

S&P 500, Dow slip as Turkey's currency woes spread

August 13, 2018 by  
Filed under News

The S&P 500 and the Dow industrials fell on Monday as a global contagion of market jitters arising from the plunge of Turkey’s currency spread to Wall Street, while the Nasdaq edged higher on gains from tech stocks.


Source: Reuters Business News

VF to spin off Lee and Wrangler jeans into public company

August 13, 2018 by  
Filed under News

VF Corp , one of the world’s biggest apparel makers, will spin off Lee and Wrangler jeans into a separate public company, it said on Monday, allowing it to focus on its more profitable Vans sneakers and The North Face outerwear businesses.


Source: Reuters Business News

Musk still talking to Saudi fund, others as he seeks buyout financing

August 13, 2018 by  
Filed under News

Tesla Inc Chief Executive Elon Musk said on Monday a July 31 meeting with Saudi Arabia’s sovereign wealth fund convinced him he could secure funding to take the electric car-maker private, but that he was still talking to the fund and other investors as he seeks to nail down financing.


Source: Reuters Business News

Tourists find silver lining in Turkey's lira crash

August 13, 2018 by  
Filed under News

Visitors to Turkey flocked to its high-end shops to snap up bargains on Monday, their purchasing power buoyed by a currency crisis as the country’s lira sank to a record low beyond 7 per dollar.


Source: Reuters Business News

Turkey must ensure independence of central bank: Merkel

August 13, 2018 by  
Filed under News

German Chancellor Angela Merkel urged Turkey on Monday to ensure the independence of its central bank as other senior officials said that Turkey’s economic woes were causing great concern.


Source: Reuters Business News

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