Biggest US banks clear first hurdle in Fed’s annual stress tests – Reuters

WASHINGTON/NEW YORK The 34 largest U.S. 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 & Co and Bank of […]

‘Nobody is Perfect’: Some Uber Employees Balk at Travis Kalanick’s Exit – New York Times

‘Nobody is Perfect’: Some Uber Employees Balk at Travis Kalanick’s Exit – New York Times

The employee petition began when Michael York, a product manager, called for people to rally their support around Mr. Kalanick. How Uber’s Brash Approach Backfired A series of scandals have toppled executives, including Travis Kalanick, Uber’s co-founder. “Nobody is perfect, but I fundamentally believe he can evolve into the leader Uber needs today and that […]

Man Accused Of Making Millions Of Robocalls Faces Biggest-Ever FCC Fine – NPR

Telemarketers are prohibited from making prerecorded phone calls to people without prior consent. It’s also illegal to deliberately falsify caller ID with the intent to harm or defraud consumers. PeopleImages/Getty Images/iStock hide caption toggle caption PeopleImages/Getty Images/iStock Telemarketers are prohibited from making prerecorded phone calls to people without prior consent. It’s also illegal to deliberately […]

Qatar Airways seeks 10 percent stake in American Airlines – Reuters

American Airlines’ chief executive said on Thursday the company is not “particularly excited” about Qatar Airway’s interest in buying up to 10 percent of the U.S. carrier’s shares, in a letter to employees following disclosure of the state-owned Gulf airline’s overture. The move by Qatar Airways to buy a stake in American would expand the […]

Kalanick’s ouster as Uber CEO began with a letter hand delivered to his Chicago hotel – Chicago Tribune

As Travis Kalanick was in Chicago interviewing a candidate to be his deputy at Uber Technologies Inc., two investors were on a plane to deliver the news that they wanted the chief executive officer gone. Matt Cohler and Peter Fenton, partners at venture capital firm Benchmark, hand-delivered a letter urging Kalanick’s resignation, people familiar with […]

Qatar Airways interested in buying 10 percent stake in American Airlines – Reuters

American Airlines Group Inc (AAL.O) said on Thursday that Qatar Airways, the Gulf country’s state-owned airline, had expressed interest in buying as much as a 10 percent stake worth at least $808 million in the U.S. airline. The potential investment comes against a background of diplomatic and competitive turbulence for Qatar Airways, its home country […]

Kalanick’s Resignation as Uber’s CEO – New York Times

Kalanick’s Resignation as Uber’s CEO – New York Times

The corporate drama that unfolded in the hotel was anything but sudden. It was the culmination of several months in which nearly all of Mr. Kalanick’s support base turned against him. One by one, executives, board members, investors and even close friends slowly fell away as Uber became embroiled in a seemingly ceaseless series of […]

‘I just don’t want a poor person’: Trump explains why he added billionaire Wall Street execs to his cabinet – Business Insider

‘I just don’t want a poor person’: Trump explains why he added billionaire Wall Street execs to his cabinet – Business Insider

President Donald Trump speaks to supporters at a rally in Cedar Rapids, Iowa. Twitter/@kylegriffin1 President Donald Trump offered some insight into why he added some Wall Street billionaires to his cabinet during a rally in Iowa Wednesday night. “So somebody said, ‘Why did you appoint a rich person to be in charge of the economy,” […]