6 Most Important Things in Business Today
January 22, 2018 by Douglas A. McIntyre
Xerox Corp.’s first- and third-biggest investors, billionaires Carl Icahn and Darwin Deason, have formed an alliance and plan to encourage the printer and copier giant to explore a potential sale, according to people familiar with the matter.
The two investors, who together control more than 15% of Xerox’s shares, had already been separately calling for changes at the Norwalk, Conn., company on slightly different topics, but this would be the first time either has come out publicly for a potential sale.
Amazon.com Inc. (NASDAQ: AMZN) will open its first store without cashiers. According to The Wall Street Journal:
The new Amazon Go store, located in the base of Amazon’s main headquarters in Seattle, uses computer vision and machine-learning algorithms to track shoppers and charge them for what they select, thereby eliminating checkout counters.
In an interview last week, Dilip Kumar, vice president of technology for Amazon Go and Amazon Books, said testing with employees has trained the technology to work in the store, an experiment that is part of the company’s broader effort to reinvent how consumers shop.
One of Twitter Inc.’s (NYSE: TWTR) top executives may leave to take another job. According to The Wall Street Journal:
Anthony Noto, a top Twitter Inc. executive, is in discussions to become the next chief executive of Social Finance Inc., according to people familiar with the matter, as the online lender grapples with accusations of improper workplace culture.
SoFi has been looking for a permanent chief executive since Mike Cagney’s departure in September.
“Jumanji: Welcome to the Jungle” had another monster weekend in theaters. According to Box Office Mojo:
Sony’s Jumanji: Welcome to the Jungle delivered a chart-topping $20 million as the film’s domestic cume climbs over $315 million. The film’s international cume added another $32.6 million this weekend as its worldwide total now stands at $767.8 million, moving it into the top 80 all-time.
The world’s richest 1% control 82% of the world’s wealth, according to Oxfam. The organization’s researchers report:
Eighty two percent of the wealth generated last year went to the richest one percent of the global population, while the 3.7 billion people who make up the poorest half of the world saw no increase in their wealth, according to a new Oxfam report released today. The report is being released as political and business elites, including President Trump, are heading to Davos, Switzerland for the World Economic Forum.
Oxfam’s report, ‘Reward Work, Not Wealth,’ reveals how the global economy enables the wealthy elite to capture vast wealth while hundreds of millions of people struggle to survive on poverty pay. This includes the stunning new finding that the economy created a new billionaire every other day over a period of one year
The ability to trade exchange traded funds (ETFs) may extend to 24 hours a day. According to CNBC:
TD Ameritrade extended trading hours on its platform starting Monday to 24 hours, five days a week for several popular exchange-traded funds. The eBroker also told CNBC trading individual stocks around the clock may not be too far away.
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