Saturday, February 24News That Matters

Business

A cloud hangs over the gun industry

A cloud hangs over the gun industry

Business
From our friends at CNN Money: A cloud hangs over the gun industry Will NRA-backed Trump actually hurt the gun industry? Stocks in gun companies have been dragged lower by a cloud of negativity after last week's mass shooting at a Florida high school, which continues to dominate public debate. Shares of American Outdoor Brands (AOBC), the company formerly known as Smith & Wesson, have dropped 8% since the day after the shooting. Vista Outdoor (VSTO), which makes guns and ammunition, has declined 7%. Sturm Ruger (RGR) is down slightly. All while the broader market has risen. Visit our friends at CNN Money
Gun safety groups want Apple TV and Amazon Fire to pull NRATV

Gun safety groups want Apple TV and Amazon Fire to pull NRATV

Business
From our friends at CNN Money: Gun safety groups want Apple TV and Amazon Fire to pull NRATV Will NRA-backed Trump actually hurt the gun industry? Two gun safety groups want Apple, Amazon, Google and Roku to remove the NRA's online video channel from their streaming platforms. In letters on Friday, Moms Demand Action for Gun Sense and Everytown for Gun Safety called on the companies to cut ties with NRATV because it "promotes dangerous conspiracy theories, racially charged rhetoric, and violent demonization of the NRA's political opponents." "American businesses have the responsibility to make ethical decisions about the content they will provide on their platforms," Moms Demand Action founder Shannon Watts wrote. The groups launched an ...
Warren Buffett is retiring from Kraft Heinz board

Warren Buffett is retiring from Kraft Heinz board

Business
From our friends at CNN Money: Warren Buffett is retiring from Kraft Heinz board Buffett, Bezos & Dimon try to tackle health care Warren Buffett is retiring from the board of directors of Kraft Heinz, a subsidiary of his company Berkshire Hathaway. "Mr. Buffett decided to retire from the board as he decreases his travel commitments," Kraft Heinz said in a press release on Friday. Visit our friends at CNN Money
The real mastermind behind Peter Thiel’s battle with Gawker

The real mastermind behind Peter Thiel’s battle with Gawker

Business
From our friends at CNN Money: The real mastermind behind Peter Thiel's battle with Gawker Hulk Hogan vs. Gawker: A timeline A new book about billionaire Peter Thiel's war against Gawker includes an explosive revelation about the real mastermind behind Bollea v. Gawker, the lawsuit that bankrupted the influential media company founded by Nick Denton. Ryan Holiday reports in "Conspiracy: Peter Thiel, Hulk Hogan, Gawker, and the Anatomy of Intrigue" for the first time that a 26-year-old who goes by the pseudonym "Mr. A" in the book gave Thiel the idea to create a shell company to hire former investigative reporters and lawyers to track down causes of action against Gawker. BuzzFeed reported on Friday that Mr. A is an Australian businessman, ...
Major Chinese auto exec takes stake in Daimler

Major Chinese auto exec takes stake in Daimler

Business
From our friends at CNN Money: Major Chinese auto exec takes stake in Daimler The 20-foot-long 2-seat Mercedes convertible The chairman of a Chinese automaker has taken a 10% stake in German automaker Daimler AG. (DMLRY) In a filing in Germany late Friday, it was disclosed that Li Shufu, the chairman of Chinese automaker Geely, had bought 103.6 million shares of Daimler stock, worth $9 billion. Visit our friends at CNN Money
Tesla, GM buyers to lose $7,500 tax credit within a year

Tesla, GM buyers to lose $7,500 tax credit within a year

Business
From our friends at CNN Money: Tesla, GM buyers to lose $7,500 tax credit within a year Tesla's Model 3 may not satisfy 'mainstream' buyers Time is running out for buyers of some of the best-selling plug-in vehicles to get a $7,500 federal tax credit with their purchase. In an SEC filing early Friday, Tesla said it expectsthat it will hit the threshold of 200,000 U.S. sales at some time in 2018. That will lead to the beginning of the end of a federal tax credit for its customers. Visit our friends at CNN Money
Waymo wants to prevent puking in self-driving cars

Waymo wants to prevent puking in self-driving cars

Business
From our friends at CNN Money: Waymo wants to prevent puking in self-driving cars Driver death rate: Zero Waymo wants to make sure you never get sick in self-driving cars. A patent application published Thursday from the self-driving arm of Google's parent company detailed an elaborate system to prevent motion sickness in its vehicles. The method involves determining routes that could minimize motion sickness. For example, sensitive passengers would be given a relaxed ride on gentle roads. Those people who are more in a rush could select a faster but slightly rougher trip. The application describes how an alert could be pushed to encourage passengers not to look down or read during the trip. Passengers more sensitive to motion sickness may also be referred to sp...
Citigroup will refund $330 million to credit card customers it overcharged

Citigroup will refund $330 million to credit card customers it overcharged

Business
From our friends at CNN Money: Citigroup will refund $330 million to credit card customers it overcharged Three simple ways to pay off credit card debt Some Citigroup credit card holders might be getting a chunk of change. Citigroup Inc. (CPRS) said on Friday that it would refund about $330 million to consumers after discovering it had overcharged 1.75 million credit card accounts on their annual interest rates. The company reports the average refund will amount to about $190 per account -- including interest. "We sincerely apologize to our customers and are taking every action to provide refunds as quickly as possible," Liz Fogarty, head of global consumer banking public affairs at Citi, told CNNMoney. Credit card issuers are required to semi-annually re...
Dropbox files for a $500 million IPO

Dropbox files for a $500 million IPO

Business
From our friends at CNN Money: Dropbox files for a $500 million IPO Dropbox CEO on turning down Steve Jobs Another tech unicorn is ready for Wall Street. Dropbox, the cloud storage company, filed paperwork on Friday to raise $500 million in its long-awaited initial public offering. The amount will likely tick up, depending on investor demand. It will list on the Nasdaq under the stock ticker "DBX." The company posted sales of $1.1 billion in 2017, up from $845 million in the year prior. But like many tech companies going public, Dropbox is not profitable. It lost $112 million in 2017, down from $210 million in 2016. Related: Snap CEO Evan Spiegel made $638 million last year Dropbox was founded more than a decade ago and emerged as one of the leading se...
No, Dana Loesch, members of the media do not ‘love’ mass shootings

No, Dana Loesch, members of the media do not ‘love’ mass shootings

Business
From our friends at CNN Money: No, Dana Loesch, members of the media do not 'love' mass shootings CNN anchor to NRA spokesperson: How dare you After a week on the defensive, the National Rifle Association is trying to shift blame to the media, making journalists play defense instead. "The media loves mass shootings" is the new NRA talking point. It's a sickening claim -- but NRA national spokeswoman Dana Loesch stood by it during an interview with CNN's Alisyn Camerota on Friday. "You're wrong on every single level," Camerota said, calling the NRA's attacks against the media "malicious." One possible explanation for Loesch's claim: She's trying to portray the news media as an enemy at a time whe...