New York Posts – Business

  • Bank of International Settlements says bitcoin is not a trustworthy currency
    by Reuters on June 18, 2018 at 2:56 pm

    Bitcoin doesn’t cut it as a currency. The problem with the cryptocurrency and its brethren is that they are not scalable and are more likely to suffer a breakdown in trust and efficiency the greater the number of people using them, the Bank of International Settlements (BIS) said Sunday in its latest warning about the... […]

  • This is how Trump’s corporate tax cut is backfiring
    by Reuters on June 18, 2018 at 2:06 pm

    The corporate tax cut passed by President Trump and fellow Republicans that was in part designed to help dissuade US companies from moving profits overseas may instead make the practice a lot more rewarding. That is because companies that shifted profits linked to US sales, research or production previously had to pay taxes on the... […]

  • Audi CEO detained in diesel emissions case
    by Associated Press on June 18, 2018 at 12:15 pm

    BERLIN — German authorities on Monday detained the chief executive of Volkswagen’s Audi division, Rupert Stadler, as part of a probe into manipulation of emissions controls. The move follows a search last week of Stadler’s private residence, ordered by Munich prosecutors investigating the manager on suspicion of fraud and indirect improprieties with documents. “Audi CEO... […]

  • Bill Gross got revenge on ex-wife with fart spray: court papers
    by Carleton English on June 18, 2018 at 2:23 am

    The bitter divorce battle between billionaire bond king Bill Gross and his ex-wife is beginning to stink — like vomit, flatulence and dead fish. The California moneyman, who lost his beloved 13,819-square-foot Laguna Beach home to his ex-wife in the breakup, used foul-smelling sprays to leave the place a stinking mess — and placed dead... […]

  • These French bosses may be the world’s worst
    by Richard Morgan on June 18, 2018 at 2:09 am

    Talk about your bad bosses. The former head of France Telecom and six of his executives must stand trial over their alleged role in driving more than 30 workers to suicide in two years, a court has ruled. The suicide wave coincided with a restructuring program at the Paris telecom that began in 2008 and... […]

  • Subway hires Bain to help with sales slump
    by Josh Kosman on June 18, 2018 at 2:08 am

    Subway, the struggling family-owned sandwich chain, has hired consultant Bain & Company to professionalize operations and possibly set itself up for a future sale, The Post has learned. The 52-year-old chain, the largest in the US by the number of locations, had previously resisted bringing in outside professionals for anything other than advertising, according to... […]

  • An absurd suggestion on how to fund Trump’s border wall
    by John Crudele on June 17, 2018 at 8:27 am

    Dear John: If we are so concerned about China owning so much of our Treasury debt, why don’t we do this: Allow Americans to buy Treasury bonds and pay no federal tax on the interest earned. To make up the difference, raise the income tax on wealthy Americans by the same amount as the loss... […]

  • How do companies afford giveaway sweepstakes?
    by John Crudele on June 17, 2018 at 8:14 am

    Dear John: My daughter and I receive many letters from Publishers Clearing House about its $5,000-a-week giveaway for life. How does the company do it? And what if they go out of business or investigated? Do I still get my money? R.L. Dear R.L. The contest is legit, from everything I read. And the chances... […]

  • This hedge funder is actually making the world a better place
    by Jonathon Trugman on June 17, 2018 at 5:03 am

    While Wall Street takes its lumps for being too profit-driven, people on the Street are some of the most dedicated and generous do-gooders around. For every Bernie Madoff, there’s a Paul Tudor Jones. Jones, who runs the Tudor Investment Corp. hedge fund, created the Robin Hood Foundation in 1988, which is now New York’s largest... […]

  • Banks are stepping up lending to small businesses
    by John Aidan Byrne on June 17, 2018 at 1:37 am

    Small businesses are America’s engine of job growth, employing nearly half of the US private workforce. And now they have finally come in from the cold — thanks to surging owner optimism and bank loan approvals at record highs. After a decade of sputtering and false starts, big banks and institutional lenders nationwide have stepped... […]