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Wal-Mart Raises Hourly Wage to $11 in Wake of Tax Overhaul

Wal-Mart Stores Inc. is boosting its starting hourly wage to $11 and delivering bonuses to employees, capitalizing on the U.S. tax overhaul to stay competitive in a tightening labor market. The increase takes effect next month and will cost $300 million on top of annual wage hikes that were already planned, the world’s largest retailer said Thursday. The one-time bonus of up to $1,000 is based on seniority and will amount to an additional $400 million. The company is also expanding its maternity and parental leave policy and adding an…

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New York City plans to divest $5bn from fossil fuels and sue oil companies

Mayor Bill de Blasio: Its up to the fossil fuel companies whose greed put us in this position to shoulder the cost of making New York safer and more resilient New York City is seeking to lead the assault on both climate change and the Trump administration with a plan to divest $5bn from fossil fuels and sue the worlds most powerful oil companies over their contribution to dangerous global warming. City officials have set a goal of divesting New Yorks $189bn pension funds from fossil fuel companies within five…

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Trump Says Bannon Lost His Mind After Leaving White House

President Donald Trump denounced his former top strategist, Steve Bannon, on Wednesday in a dramatic break from the man considered an architect of Trump’s populist campaign. “When he was fired, he not only lost his job, he lost his mind,” Trump said in a statement issued after the publication of excerpts of a new book in which Bannon criticizes the president and his family. “Now that he is on his own, Steve is learning that winning isn’t as easy as I make it look.” Bannon has lost the access to…

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Two arrested in ‘horrific’ quadruple upstate New York murders

(CNN)Two people have been arrested in the “horrific” murders of two women and two children in Troy, New York. The victims — Brandi Mells, 22, Shanta Myers, 36, and Myers’ children Shanise, 5, and Jeremiah, 11 — were found dead in a basement apartment on Tuesday in what police called a “horrific” homicide that shook the upstate New York city.

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Novogratz Halts Hedge Fund, Says Bitcoin May Drop to $8,000

Michael Novogratz, the former macro manager who’s turned into one of the biggest champions of bitcoin, shelved plans to start a cryptocurrency hedge fund and predicted that the digital money may extend its plunge to $8,000. “We didn’t like market conditions and we wanted to re-evaluate what we’re doing,” Novogratz said Friday in a phone interview. “I look pretty smart pressing the pause button right now.” Novogratz, 53, said he told potential investors last week that he changed his mind, two days before his Galaxy Digital Assets Fund was due to…

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Manhattan subway explosion ‘was attempted terrorist attack’, says mayor

Four total injuries reported following blast on subway near Port Authority at 42nd Street and Eighth Avenue in Manhattan A 27-year-old man was in custody on Monday after detonating an explosive device on the New York City subway during the morning commute. The suspect, Akayed Ullah, was one of four people injured in the explosion, which occurred at about 7.20am in a passageway near 42nd Street and 8th Avenue, in midtown Manhattan near Times Square, New York City police said. None of the injuries were life-threatening. At a midtown press…

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Ray Dalio Says End of the SALT Deduction Will Further Divide the Nation

Billionaire legislation. The Senate bill mirrors the House legislation by calling for the repeal of state and local tax deductions, while allowing up to $10,000 for property tax deductions. According to a study by the Tax Policy Center, 7 percent of taxpayers would pay more tax in 2019, 10 percent in 2025, and 48 percent in 2027, compared to current law. On average in 2027, taxes would change little for lower- and middle-income groups and decrease for higher-income groups. Tax Revenues On its face, ending so-called Read more about the…

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Bitcoins Wild Ride: A Rally, a Rout and Outages on the Exchanges

Bitcoin plunged as much as 20 percent hours after a rally past $11,000 generated a surge in traffic at online exchanges that led to intermittent outages. The plunge capped a wild day for the largest cryptocurrency that included a breakneck advance to a high of $11,434 before the reversal took it as low as $9,009. As of 3:36 p.m. in New York, it traded at $9,911.10, virtually unchanged from where it began the session. The heaviest selling came amid earlier led to selloffs in cryptocurrencies. Coinbase, one of the biggest…

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New York woman shot dead with pistol by hunter who thought she was a deer

Rosemary Billquist, 43, was killed by a single pistol shot as she walked her dogs after sunset, when it is illegal to hunt A 43-year-old woman walking her dogs in a field in western New York was accidentally shot dead by a hunter who thought she was a deer, authorities said. The Chautauqua County sheriffs office said Rosemary Billquist, of Sherman, took her dogs for a walk in her home town near the Pennsylvania border around 5.30pm on Wednesday. Deputies said Billquist was walking in a field when a man…

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New Uber CEO Keeps Finding Horrors at Every Turn

The appointment of Dara Khosrowshahi as head of cyberattack Uber had been concealing since last year that exposed personal data on 57 million customers and drivers globally. The company, which said it had paid hackers $100,000 to delete the data and keep quiet, disclosed the incident in a statement to Bloomberg on Tuesday, following an investigation commissioned by the board. The chief security officer and one of his deputies were ousted for their actions following the hack. Khosrowshahi’s role so far looks less like a turnaround artist and more like…

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Da Vincis Christ Portrait Shatters Art Record With $450 Million Sale

“Jesus Christ.” That was the reaction of mega art dealer Larry Gagosian after a rediscovered painting by Leonardo da Vinci became the most expensive work ever sold, soaring to $450.3 million at a Christie’s auction in New York on Wednesday. Alex Rotter, the auction house’s co-chairman of postwar and contemporary art in the Americas, placed the winning bid on behalf of an unidentified client after a 19-minute war that saw offers at $200 million, $300 million and $350 million fall short. The result obliterated previous world records for an art sale of…

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Eight people killed in New York ‘act of terror’ after truck drives on to bike path

Police say suspect, 29, in hospital after being shot by officer while mayor De Blasio says attack being treated as a particularly cowardly act of terror Eight people were killed and more than a dozen injured after a man drove a truck nearly a mile down a bike path in Manhattan on Tuesday afternoon, striking pedestrians, cyclists and a school bus. New York City mayor Bill de Blasio said the incident was being treated as an act of terror, a particularly cowardly act of terror. De Blasio said a police…

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Friday’s iPhone X Pre-Orders Will Be Crucial for Apple

The most important date for shorter lines of expectant fans waiting outside stores on release days. So even though analysts widely expect iPhone X supplies to be limited early on, the device will still be available in 55 countries and territories. Apple also expects to have the iPhone X in many stores on Nov. 3 and said Tuesday that walk-in buyers should “arrive early.” Investors and analysts will be able to monitor how the wait times for delivery develop in the course of Friday, giving insights into demand. As more…

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I Think We Got Away With It: Listen to HSBC Trader Phone Calls

Here’s the challenge for U.S. prosecutors: convince a jury former HSBC currency trader Mark Johnson is guilty of front-running a $3.5 billion client order. Their strongest evidence is HSBC’s audio recordings of the phone calls between Johnson, the bank’s former global head of foreign exchange, and traders in London and New York, which take the jury back to re-live events of six years ago. The jury, which on Thursday started weighing the fraud case against Johnson, listened to numerous calls, including one where he said, “I think we got away with…

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Oils Biggest Rigs Head to the Junkyard

Ensco Plc brought its DS-4 drillship back from cold stack, but it wasn’t mothballed as long as Transocean’s rigs and was tied to a dock, allowing it access to more auxiliary power while parked.) With Pathfinder, and a cousin called the GSF Jack Ryan that’s also being scrapped after its Caribbean cold stacking, Transocean will never know for sure. The Vernier, Switzerland-based company declined to comment for this story. For Transocean and the others that went the cold-stacking route, “this has been a very painful process,” said Greg Lewis, an…

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