Vice suspends 2 top execs after sexual misconduct report
NEW YORK (AP) — Vice has suspended two top executives after a December New York Times report on sexual misconduct at the digital media company. A company memo to employees says that President Andrew Creighton and chief digital officer Mike Germano have been suspended as it investigates allegations against them. Vice Media co-founders Shane Smith and Suroosh Alvi had previously apologized for the company’s “boy’s club” culture.
US stocks ring in 2018 with gains as technology leads again
NEW YORK (AP) — After strong gains in 2017, stocks get off to a positive start and set more records as technology and health care companies rise in the first day of trading in the new year. Energy companies also jump. Bond yields are rising and stocks that pay hefty dividends continue to lag the market.
‘Wild Thoughts’ for Weight Watchers
NEW YORK (AP) — Weight Watchers International climbs after it struck a deal with producer and recording artist DJ Khaled, who will represent the brand to millions of follows on Snapchat, Twitter, Instagram and Facebook.
Uber investors sell at big discount, but still make billions
DETROIT (AP) — Investors in the Uber ride-hailing service didn’t get all they wanted in selling at least part of their holdings to a group led by Japanese technology conglomerate SoftBank. But don’t show them too much sympathy. Even though they sold at roughly a 30 percent discount from what the shares were worth in 2016, those who invested early made nearly 100 times their initial stake
McDonald’s tests fresh beef in another burger
NEW YORK (AP) — McDonald’s says it’s using fresh beef in another burger, the latest test by the chain to swap out frozen beef as it seeks to improve the image of its food. The company says the new burger, called Archburger, is being tested in seven McDonald’s restaurants in Tulsa, Oklahoma. McDonald’s held similar tests for fresh beef Quarter Pounders for about a year before announcing in March that it would roll it out to most of its 14,000 restaurants by the middle of this year.
NBC names Hoda Kotb as Lauer replacement on ‘Today’
NEW YORK (AP) — NBC News says Hoda Kotb will replace Matt Lauer as “Today” co-anchor with Savannah Guthrie of the first two hours of the show. Kotb has been filling in since Lauer was fired on sexual misconduct charges and NBC has shown strength in the ratings since then. She’ll continue co-hosting the fourth hour of the show with Kathie Lee Gifford.
Trump’s Irish resort loses money for third consecutive year
NEW YORK (AP) — Donald Trump has lost money for a third year in a row at his golf club in Ireland. Financial statements filed with the Irish government show the resort owned by the U.S. president lost about $2.6 million in 2016, the latest year available. The losses were down 14 percent from losses a year earlier. The resort was hurt by a shutdown in 2015 and part of 2016 while it was being refurbished. The losses come amid signs of trouble at other Trump golf properties.
Get a pencil: California’s marijuana-tracking system delayed
LOS ANGELES (AP) — Legal pot sales began in California this week, but a vast computerized tracking system intended to track the leafy plants won’t be ready for months. California officials have long touted the value of the so-called track-and-trace system, which would follow marijuana from seed to sale. But the lack of it raises the potential that an unknown amount of pot will continue slipping into the illicit market, as it has for years.
Ask Brianna: How do I make a money resolution that succeeds?
If your New Year’s resolution is to save more money, it might sound appealing to make a plan to drastically cut your spending and set aside half your income. But you’ll probably find that difficult and get discouraged. Instead, set bite-sized goals, share them with a buddy and adjust them throughout the year.
Box office records made as Broadway says goodbye to 2017
NEW YORK (AP) — The year on Broadway has come to a very sparkly end for theater producers as many shows recorded their most profitable weeks ever despite theater-goers facing bitter cold and some eye-popping ticket prices. The Broadway League national trade association says 10 shows last week earned more than $2 million, led by “Hamilton,” ”The Lion King” and “Wicked,” which each pulled in more than $3 million. The year ended with grosses soaring to $1.6 billion, attracting 13.74 million patrons, both records.
The Standard & Poor’s 500 index rose 22.20 points, or 0.8 percent, to a record 2,695.81. The Dow Jones industrial average climbed 104.79 points, or 0.4 percent, to 24,824.01. The Nasdaq composite jumped 103.51 points, or 1.5 percent, to 7,006.90. The Russell 2000 index, which consists of smaller company stocks, gained 14.50 points, or 0.9 percent, to 1,550.51, also a new high. The Nasdaq had its best opening day since 2013 as the big technology companies that dominated in 2017 got the new year off to a good start.
Benchmark U.S. crude fell 5 cents to $60.37 a barrel in New York. Brent crude, used to price international oils, fell 30 cents to $66.57 barrel in London. A rally late in the year sent crude oil to its highest price since June 2015.
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