A $3 billion bet on Walt Disney by Nelson Peltz’s Trian Fund Management was largely responsible for the investment management firm’s underperformance last year compared to its activist hedge fund peers, according to financial details provided to Reuters by a Trian investor. The previously unreported details illustrate the high financial stakes for Trian as it seeks…
On Tuesday, in a ceremony that, of course, involved a soccer ball, the Argentine soccer superstar Lionel Messi pressed a button and a bottle of champagne smashed against the bow of Icon of the Seas, christening the world’s largest cruise ship at its home port of Miami. Like an A-list celebrity stepping onto the red…
The top executive at United Airlines threatened to shun Boeing after the carrier’s fleet of Max 9 aircraft was grounded in the wake of the near-disastrous Alaska Airlines door blowout. “I think the Max 9 grounding is probably the straw that broke the camel’s back for us,” United CEO Scott Kirby told CNBC’s “Squawk Box”…
Netflix on Tuesday blew past Wall Street subscriber estimates in the fourth quarter, driven by a strong slate of shows that included the final season of the long-running royal drama “The Crown” and David Fincher’s original film, “The Killer.” The company reported it added 13.1 million subscribers in the December quarter, its largest fourth-quarter subscriber growth…
Un-Fare! The owner of Chef’s Table at Brooklyn Fare filed a lawsuit Tuesday against the restaurant’s superstar original chef, Cesar Ramirez, and his wife, Adriana Rodriguez, alleging they looted the place of a half-million dollars’ worth of fancy wine, cooking equipment, and even pots and pans, The Post has learned. The lawsuit is the latest…
The Los Angeles Times said Tuesday it was cutting at least 115 jobs — or more than 20% of its 500-person newsroom — marking one of the largest workforce reductions in the newspaper’s 142-year-old history. The layoffs come at a volatile time for the publication, which is not only projecting another year of heavy losses but…
Federal regulators have ruled that Intuit, the maker of the tax-filing software TurboTax, must stop marketing its services as free, unless they are free to everyone or exceptions are clearly disclosed. TurboTax had for years claimed customers could file their taxes online for free. The Federal Trade Commission said in an opinion and final order…
He was born Charles Osgood Wood III in Manhattan on Jan. 8, 1933. His father, Charles Osgood II, was a textile salesman who moved the family to Baltimore when young Charles was 6 and took a second job, as an expediter for a copper company, during World War II. His mother, Mary (Wilson) Wood, was…
The Los Angeles Times said on Tuesday it would lay off about 115 journalists, slashing its newsroom by more than 20 percent after a tumultuous few weeks that saw top editors depart and workers strike. Patrick Soon-Shiong, the billionaire owner of The Los Angeles Times, said in an interview with his paper that it was…
In early January in San Antonio, dozens of Ph.D. economists packed into a small windowless room in the recesses of a Grand Hyatt to hear brand-new research on the hottest topic of their annual conference: how climate change is affecting everything. The papers in this session focused on the impact of natural disasters on mortgage…
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