business news

‘Fibs, exaggerations, omissions, fabrications and whoppers’: Forbes says Commerce Secretary Wilbur Ross inflated his net worth

Forbes Magazine has accused Commerce Secretary Wilbur Ross of inflating his net worth, saying the bankruptcy financier is wealthy, but not a billionaire. Forbes says Ross repeatedly lied and misled the magazine about his net worth for more than a decade, both to pad his ego and to help land business opportunities.  Forbes …

business news

The GOP tax plan just got another brutal review

The Tax Policy Center released an analysis on Monday of the Tax Cuts and Jobs Act. The report found that the bulk of the benefits from the GOP tax bill would go toward wealthier Americans. The report also found that by 2027, 28% of Americans would see their taxes increase, …

business news

One of the hottest hedge fund launches of the year has doubled its assets in about 6 months

Hedge fund Light Sky Macro launched earlier this year with the backing of Steve Cohen, Dan Loeb and a number of other hedge fund managers. The fund had a rough start but is now in positive territory. The fund was started by Ben Melkman, a former partner at Brevan Howard. …

business news

STOCKS TICK UP: Here’s what you need to know

Stocks edged up on Monday, with all three indices just barely scraping to new highs.  Dow: 23,548.42, +9.23, (+0.04%) S&P 500: 2,591.13, +3.29, (+0.13%) Nasdaq: 6,786.44, +22.00, (+0.33%) 1. Disney has reportedly been in talks to buy most of 21st Century Fox, CNBC’s David Faber reported. A deal would exclude the Fox broadcast network because …

business news

Apple says its suppliers leaking could hurt its bottom line (AAPL)

Apple says that leaks from its “suppliers” is a risk for the company.  Apple says it takes steps to protect its valuable internal data. But lots of valuable information about the new iPhone was public before it launched.  Apple is famously secretive. Its goal is to “surprise and delight” and …