Japanese company loses in defamation case against Reuters
Japan’s Supreme Court rejected an appeal by Japan’s Universal Entertainment Corp. to hear its defamation case against Reuters, upholding two lower court rulings that its case against the news agency lacked merit. Nathan Layne of Reuters reports, “Universal had sued Reuters in Tokyo in December 2012, demanding 200 million yen ($1.79 million) and apologies, for […]
Coverage: Sears to sell Kenmore appliances on Amazon
Struggling retailer Sears has negotiated a deal to sell its Kenmore appliances on Amazon.com, sending its faltering stock price up by as much as 19 percent on Thursday. Alexa D’Angelo of the Los Angeles Times had the news: But as a deal announced Thursday between Amazon and Sears illustrates, times have changed. In an attempt to […]
Coverage: Morgan Stanley’s earnings are a trading surprise
Morgan Stanley reported second quarter earnings Wednesday that soundly topped expectations, helped by an increase in stock trading revenues and profits from its wealth management business. Evelyn Cheng of CNBC.com had the news: Morgan Stanley’s markets revenue held up better than other big banks that reported this quarter. Equity sales and trading net revenues increased by $100 […]
Coverage: Chipotle faces customers getting sick, again
Chipotle Mexican Grill saw its stock dip Tuesday after it temporarily closed a Sterling, Virginia, restaurant where several people reported getting sick. Merrit Kennedy of NPR had the news: Jim Marsden, the company’s executive director of food safety, told Yuki that the company closed the restaurant Monday “to conduct a complete sanitization.” He said that the […]
Coverage: Netflix shares rise 10+ percent after beating Wall Street
Netflix said that it added 5.2 million total memberships, blowing away Wall Street’s estimates of 3.23 million during a historically weak quarter amid the return of marquee content like “Orange is the New Black.” Anita Balakrishnan of CNBC.com had the news: Since Netflix’s last earnings report, new seasons of popular series “House of Cards” and “Orange is […]
Dimon tells financial journalists to stop writing about finance
JPMorgan CEO Jamie Dimon, on the company’s earnings conference call Friday, asked financial journalists to stop writing about finance and focus on policy issues, writes Laura Noonan of The Financial Times. Noonan writes, “‘These things are happening because of bad policies,’ Mr Dimon told reporters on JPMorgan’s quarterly earnings call. ‘I just got back from […]
Coverage: Sen. Warren wants Yellen to go after Wells Fargo
Sen. Elizabeth Warren wants Federal Reserve chairman Janet Yellen to remove most of the Wells Fargo board before more people get hurt. Matt Egan of CNNMoney.com had the news: Instead of simply slapping Wells Fargo with more fines, Warren implored Yellen to use her power as the Federal Reserve chief to send a resounding message to Wall Street. […]
Reorg Research does not have to disclose sources, court rules
Financial news site Reorg Research does not have to disclose the sources of stories it published about Murray Energy Corp., according to an appeals court ruling Thursday. The ruling upholds New York’s Shield Law. Reorg Research, a Manhattan-based corporate intelligence news service sent two news alerts last year to its subscribers — many of them hedge fund managers and […]
Coverage: Google paying academics to write favorable papers
Google operates a program to harness the brain power of university researchers to help sway opinion and public policy, cultivating financial relationships with professors at campuses from Harvard University to the University of California, Berkeley Brody Mullins and Jack Nicas of The Wall Street Journal broke the news: Over the past decade, Google has helped finance hundreds of […]
Crain’s Chicago Business hit with defamation suit
Crain’s Chicago Business was hit with a $38 million defamation lawsuit Friday by Phil Tadros, owner of Bow Truss Coffee Roasters. Robert Feder reports, “His complaint filed in Cook County Circuit Court alleged that Crain’s published a ‘hit piece’ on Tadros and his business practices last July, resulting in setbacks to his companies and relationships. “Among those named in the […]
