PG&E Guilty of Safety Violations Stemming From Fatal Blast
PG&E Corp. was found guilty of safety violations six years after one of its natural gas pipelines blew up and killed eight people in California.The verdict reached Tuesday by a San Francisco federal court jury stains the reputation of California’s largest utility, but the maximum fine PG&E faces may only be $3 million after prosecutors backed off a proposal to seek a penalty of as much as $562 million. Jurors found the company guilty of six out of 12 counts.The verdict, following a week of deli..>> view originalDelta System Failure Marks Wake-Up Call for Airline Industry
The failure of Delta Air Lines Inc.’s worldwide computer network this week spotlights the vulnerability of the information systems sustaining the biggest U.S. carriers, each of which has contended with major disruptions during the last year.Complex networks cobbled together over the decades need major overhauls requiring significant new investments, said Bob Edwards, a former chief information officer for United Continental Holdings Inc. Recent flaws in computer systems quickly escalated into c..>> view originalBOE to Press on With Gilt-Buying Plan After Early QE Hiccup
The Bank of England’s plan is to keep calm and carry on buying.The central bank said Wednesday it will deal with a 52 million-pound shortfall ($60.8 million) in an operation on Tuesday at a later date as it made no changes to its expanded 60 billion-pound quantitative-easing program. Details of these purchases will be announced when the institution publishes information on the second half of the plan on Nov. 3.The statement came a day after the BOE failed to buy all the gilts it wanted at a rev..>> view originalCoach draws the line with department stores
It's about to get a lot harder to snag a discounted handbag at your local department store. Coach on Tuesday became the latest accessories label to say that it's dialing back its presence in these highly promotional shops. The company this fiscal year plans to exit about 25 percent of the big-box locations where it sells its product, or roughly 250 stores. The move comes as Coach is working to rebuild its pricing power with shoppers by incorporating more luxurious offerings in its assor..>> view originalCarvana raises a $160M Series C to expand its online dealership and car vending machines nationwide
The used car industry is an interesting business. The market is huge – 45 million used cars are bought each year in the U.S. But the biggest player, CarMax, only controls about 2% of the market – but is still valued at about $12 billion by Wall Street. So that makes the market not only ripe for disruption, but also extremely lucrative. Carvana is a used car dealer that thinks it can gain some of this marketshare by bringing an e-commerce approach to the industry. The startup, which we’ve cover..>> view originalCramer: The Delta Will Weigh on Disney Shares
Cramer: The Delta Will Weigh on Disney Shares By Jim Cramer | Aug 10, 2016 | 7:47 AM EDT Will this Disney (DIS) quarter be the one that will be remembered for hitting the dreaded "delta?" I am talking about the fourth letter of the Greek alphabet, which stands for change of any changeable commodity and it's a curse word when it comes to the analysts who cover Disney. This is because of the negative rate of change of the fortunes of the honey pot ESPN, and it wa..>> view original3 Reasons To Avoid Student Loan Consolidation
MoneyTips When students graduate with student loans, many are encouraged to consolidate them. This seems like a good idea because it reduces the number of monthly payments needed and, many believe, saves money. Few graduates look into what consolidation does, though, or realize that there are drawbacks to it. Here are some things that graduates may not realize. 1. Consolidating student loans does not save money. Consolidation means that all loans are paid off by one new loan, which is the tot..>> view originalNew York Fed: Credit-Card Use Increasing Among People with Low Credit Scores
The credit card is coming back, even among people with the lowest credit scores. In the second quarter, total household debt increased by $35 billion to $12.3 trillion, according to the New York Fed’s latest quarterly report on household debt. That increase was driven by two categories: auto loans and credit cards. While auto loans have...>> view originalFutures tread water after S&P, Nasdaq hit record highs
U.S. stock index futures were little changed on Wednesday as investors paused after powering the S&P 500 and the Nasdaq to record intraday highs. The Nasdaq marked a new closing high on Tuesday, while the S&P notched its fourth record intraday high for the month.With the second-quarter earnings season winding down and no market-moving economic data scheduled for Wednesday, investors are looking for more catalysts to drive stocks higher. Of the 447 S&P 500 companies that have reported results s..>> view originalYelp Posts Surprise Profit In Second Quarter, Beats Estimates
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