Goldman Exec Robbed Blind by Assistant
Nicolas De-Meyer, the former personal assistant to Goldman Sachs' (GS) president and co-COO David Solomon, is accused of stealing hundreds of bottles of vintage wine from his former boss worth $1.2 million.
De-Meyer, 40, then used the alias "Mark Miller" to sell hundreds of bottles of the stolen wine to a dealer in North Carolina between 2014 and 2016.
"The theft was discovered in the fall of 2016 and reported to law enforcement at that time," a Goldman spokesman said in an email to CNBC. "They have been pursuing the matter."
Ford Drops 7% Following Weak Profit Forecast
Ford (F) shares were down more than 7% Wednesday afternoon after the company said that it expects to earn between $1.45 per share and $1.70 per share in 2018. FactSet expects the car company to earn $1.58 per share this year.
Ford also said that its preliminary 2017 adjusted income totaled $1.78 per share, below analysts' consensus $1.82 per share expectations.
Ford shares were trading at their lowest levels in nearly two months following the announcement.
Apple to Create 20,000 Jobs Over Next 5 Years
Apple (AAPL) will pay $38 billion in taxes on the cash it has stashed overseas as it looks to repatriate the money back into the U.S.
Apple currently has approximately $250 billion in cash overseas.
Apple also announced plans to create 20,000 jobs and build additional campuses as part of a plan to invest $350 billion in the U.S. over the next five years.
Google's Project Fi Gets in on Budget Mobile Plan Game
Google's (GOOGL) mobile virtual network operator arm Project Fi is now offering customers unlimited mobile data for $60 per month.
Until now, users paid $20 per month for unlimited calls and texts, plus $10 for every gig of data used.
Verizon Renews NBA Deal
Verizon (VZ) and the NBA announced that they have renewed a deal that will allow Yahoo Sports to provide access to live NBA League Pass games in the U.S., as well as highlights and original programming.
The partners will unveil a series of collaborations beginning with the NBA All-Star game in Los Angeles next month.
"Verizon is uniquely positioned to partner with the NBA in a first of-its-kind technology and content partnership that will serve the NBA's dynamic fan base with more live action, fantasy and lifestyle content in addition to experiential opportunities in the U.S. and globally through Yahoo Fantasy," said Brian Angiolet, SVP, Global Chief Media and Content Officer at Verizon.
Apple Supplier Says Working Conditions Aren't That Bad
Apple (AAPL) supplier Catcher Technology says that its plant in eastern China is fit for workers, denying allegations made by a New York rights group that says the company forces its workers to operate in loud, polluted conditions during their 10-hour shifts.
China Labor Watch said that it observed the dismal working conditions during an undercover investigation that ran from October 2017 through January 2018.
Apple said that it maintains a monitoring team at the site and that the factory has made "significant progress" in addressing standards concerns.
Net Neutrality Fight Heads to State Level
Attorneys General from 21 states have sued the federal government to challenge the Federal Communication Commission's decision last year to repeal net neutrality rules.
State attorneys from California, New York, Virginia, Washington D.C. and other states filed the suit in a federal appeals court in D.C.
The FCC voted along party lines to allow internet service providers to control the speed of access to content viewed on their networks.
On Tuesday, Senate Democrats said they had 50 votes in favor of repealing the FCC's decision, the upper-house Dems need one more vote to achieve a simple majority in the 100-seat chamber.
U.S. Hospital Pays Hackers $55,000 in Bitcoin Following Ransomware Attack
Hackers infected Hancock Health's database with ransomware and demanded a $55,000 bitcoin payment, which the Indiana-based hospital paid.
The hackers asked for four bitcoins, which were priced at about $55,000 at the time.
The hackers, who the hospital believe are based in Eastern Europe, targeted over 1,400 files and renamed them "I'm sorry" during the attack.
"At this time, we are deep into the analysis of the situation and see no indication that patient records have been removed from our network," the hospital said in a statement.
Bitcoin's Bubble Is Deflating
Bitcoin, the world's most popular cryptocurrency, is extending losses Wednesday morning, falling more than 11% over the past 24 hours and testing resistance at the $10,000 level.
Concerns about regulation coming from China, home to the world's most active bitcoin mining operations, South Korea and the U.S. have led to the currency's decline.
Last Week, Treasury Secretary Steve Mnuchin said that his office is putting together a group to discuss measures the U.S. can take to regulate digital currencies. China and South Korea are even farther along in the regulatory processes and digital currencies are suffering because of it.
Bitcoin was trading at $10,059.
Goldman Falls Following First Revenue Decline in 6 Years
Shares of Goldman Sachs (GS) were down 0.3% premarket Wednesday after the bank reported its first revenue decline in six years.
The bank reported a loss of $1.93 billion on revenue of $7.83 billion, but a $4.4 billion income tax expense due to the new tax law weighed on Goldman's bottom line.
Minus the charge, Goldman reported a profit of $5.68 per share, which topped analysts' consensus $4.91 per share expectations.
European Car Market Has Best Period in 10 Years
European consumers purchased more than 15 million vehicles in 2017, the highest total in a decade.
Registrations of new cars rose for the fourth consecutive year, the association of European carmakers said Wednesday.
Britain was the lone major market to record a decline in registrations, falling 6%, while Italy and Spain recorded the strongest gains of about 8%. Registrations from France rose 5% and registrations from Germany rose 3%.
U.S. futures were climbing across the board Wednesday ahead of the opening bell, indicating another strong opening for markets.
Markets had a strong opening in the previous session, with the Dow Jones Industrial Average opening above the 26,000 threshold, however, stocks fell throughout the day and all three major indices closed trading in the red.
Dow futures contracts were leading the way, rising 0.55%, while Nasdaq futures climbed 0.34% and S&P 500 futures rose 0.33%.
In Asia, the Nikkei was the lone index to close the day in the red, falling 0.35%. The Hang Seng and Shanghai composite rose 0.25% and 0.24% respectively.
In Europe, all three major indices were trading in negative territory with about four hours left in trading.