How Altaba, Inc. Shares Rose 81% in 2017
Altaba, the former Yahoo, could be a beneficiary of a lower corporate tax rate because it would reduce the tax bite on any potential sale of its equity stakes in Yahoo Japan and Alibaba Group Holding (BABA). It would also give Altaba (ticker AABA) greater leverage in negotiations with Alibaba over a possible purchase of Altaba’s Alibaba stake. In a note on Tuesday, Susquehanna Financial Group analyst Joseph Stauff wrote that a 21% corporate tax rate, down from the current 35%, could mean near-term upside potential of $7 a share – a roughly 10% gain from Monday’s closing price of $70.14.
Clarkson, the world’s biggest shipbroker, is bracing for part of its confidential data to go public, after refusing to pay ransom to hackers that breached its computer systems.
President Donald Trump nominated Marvin Goodfriend, a former Federal Reserve economist and current Carnegie Mellon University professor, for a spot on the central bank’s board of governors on Wednesday.
One by one, major companies are falling behind bitcoin, as the digital currency’s massive price appreciation this year has made it larger than some of the most famous and long-lasting stocks in the world.
Karim Baratov pleaded guilty to charges returned by a grand jury in the Northern District of California in February for hacking email accounts and selling the passwords to an agent of Russia’s intelligence agency, the department said in a statement. Baratov, a 22-year-old Canadian citizen born in Kazakhstan, was arrested in Canada in March at the request of U.S. prosecutors. The Justice Department announced charges in March against Baratov and three other men, including two officers in Russia’s Federal Security Service, or FSB, for their roles in the 2014 theft of 500 million Yahoo accounts.
British movie theater operator Cineworld Group PLC has made an offer for American counterpart Regal Entertainment Group, Regal confirmed Tuesday afternoon.
The bank that’s already under fire for inappropriate treatment of retail customers now has federal prosecutors looking into its foreign exchange banking operation.