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Bankrupt Sears can give $25.3 million in bonuses to top employees, court says

“The retailer also got permission to set aside up to $16.9 million in retention bonuses for a separate group of 315 senior employees” writes Rachel Koning Beals for marketwatch.com. The company’s proposal offers bonuses totaling up to $8.4 million to 19 executives if the company achieves certain financial targets over the next six months.A U.S. bankruptcy court judge on Friday approved Sears Holding Corp’s[S: SHLDQ] request to pay up to $25.3 million in bonuses to top executives and other high-ranking employees, the Chicago Tribune reported, even as the retailer reported…

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Sears gets Bankruptcy Court approval for up to $25.3 million in bonuses to top employees

“The retailer also got permission to set aside up to $16.9 million in retention bonuses for a separate group of 315 senior employees” writes Lauren Zumbach for sun-sentinel.com. A U.S. Bankruptcy Court judge signed off Friday on Sears’ request to pay up to $25.3 million in bonuses to top executives and other high-ranking employees even as the company reported losing nearly $1.9 billion in the first three quarters this year.The company’s proposal offers bonuses totaling up to $8.4 million to 19 executives if the company achieves certain financial targets over…

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Andrew Ng launches AI playbook for businesses

“Initial investments include Landing.ai, a company made to help manufacturers incorporate artificial intelligence into their businesses, and Woebot, a conversational AI company making a therapist bot” writes Khari Johnson for venturebeat.com. Google Brain cofounder and former Baidu AI chief scientist Andrew Ng today announced the launch of the “AI Transformation Playbook,” a prescriptive guide for business leaders looking to create AI-first companies.Media reports may skew what people understand to be possible because business news tends to focus on AI success stories.The playbook is the latest initiative from Ng, who has…

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Amazon executives grilled, jeered at New York City Council hearing

“But the rhetorical points they scored over the course of the often-testy hearing remained symbolic: By design, the agreement between the city, the state and Amazon does not give the City Council the power to veto it” writes J David Goodman for seattletimes.com. NEW YORK — It was variously described as a rite of passage, a take-your-medicine moment and a very New York-style welcome: Two Amazon executives raised their right hands and then faced more than three hours of public grilling by the New York City Council.Two Amazon executives faced…

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Company meets public opposition at first hearing for New York headquarters

“Company executives were flanked by newly-hired PR and lobbyists in the form of two former New York elected officials, Mark Weprin and Ed Wallace” writes unknown author for theguardian.com. At a public hearing at New York’s city hall, Amazon executives faced protesters calling for the plan, which the company claims will create as many as 40,000 new jobs over the next 15 years, to be abandoned.Amazon executives sought to reassure its critics, saying it planned to hold recruiting events with the residents of the Queensbridge Houses, one of the largest…

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Hyundai Motor unveils sweeping executive reshuffle, shares surge

“Hyundai Motor Co shares jumped as much as 9 percent to their highest level since Oct. 10, while shares in affiliates like Hyundai Mobis , Hyundai Wia and Hyundai Glovis also rallied” writes Midwest Communications Inc for 95kqds.com. The move follows the promotion of Euisun Chung in September to Hyundai Motor’s executive vice chairman, moving him closer to succeeding his 80-year-old father, Mong-Koo Chung, as group chairman. Source: 95kqds.com Share This:

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Kudlow: Trump didn’t know about executive’s arrest before dining with Chinese leader

“The arrest was made on the same day that Trump and Xi met for dinner amid high-level trade and national security talks in Buenos Aires” writes Elise Viebeck for washingtonpost.com. He learned way later.” [Huawei executive Meng Wanzhou seen as successor to father’s tech empire] The arrest is seen as threatening a resolution to the U.S.-China trade war. Source: washingtonpost.com Share This:

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Jamie Dimon says the market is getting ripped around thanks to the trade war

“Dimon said traders, executives and other market watchers are trying to figure that out and are factoring it into their outlooks” writes Liz Moyer for cnbc.com. Dimon was in Washington along with the top executives of other large companies to attend the Business Roundtable’s CEO Innovation Summit.He places the likelihood of an agreement at 60 percent but says there’s always a risk that something goes south.Jamie Dimon, the chairman and CEO of J. P. Morgan Chase, said Thursday the current market volatility can be attributed to a variety of worries…

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White House strategizes with executives on US industrial leadership

“The Trump administration is gathering corporate executives on Thursday to discuss ways America can lead on artificial intelligence, fifth-generation wireless technology and advanced manufacturing” reports washingtonexaminer.com. One topic that’s not expected to come up is Trump’s ongoing trade discussions with China, despite the turmoil in the U.S. stock markets over the future of those negotiations. Source: washingtonexaminer.com Share This:

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Berlin: German automakers’ meeting with Trump separate to U.S.-EU trade talks

“Daimler AG CEO Dieter Zetsche departs after his White House meeting in Washington Thomson Reuters BERLIN (Reuters) – Discussions between German car executives and President Donald Trump in Washington on Tuesday should be seen as separate from the trade talks between the European Union and the United States, a German government spokeswoman said on Wednesday” reports businessinsider.com. During the meeting, Trump pressed senior executives of leading German automakers to expand their investments in the United States as the White House considers imposing new tariffs on European-made vehicles. Source: businessinsider.com Share This:

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