News 

PG&E executives to appear before California regulatory board

“Wildfires in California are often caused by downed power lines and other utility equipment” writes The Associated Press for seattletimes.com. A fire last year sparked by PG&E’s equipment mostly destroyed the town of Paradise and killed 85 people.The utility cut off power to more than 2 million people in northern and central California Oct. 9, saying that high wind forecasts could have damaged equipment and sparked wildfires. Source: seattletimes.com

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News Stocks 

Netflix stock spikes after subscriber growth bounces back, but executives admit competition will hurt the rest of the year

“The Los Gatos, Calif.-based company reported revenue of $5.25 billion, up 31% from a year ago, in line with FactSet estimates” writes Senior Reporter for marketwatch.com. It did, however, offer Q4 revenue guidance ($5.44 billion) that fell short of FactSet estimates ($5.51 billion). Source: marketwatch.com

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Former Uber executive’s new startup wants to bring your electric scooter to you

“That’s where Tortoise wants to come in: It’s the behind-the-scenes workhorse (turtle?) that aims to help companies navigate and organize their mobility offerings” writes Sean Szymkowski for cnet.com. If the technology becomes widespread, Tortoise imagines it could park a scooter in a needed area with remote controls or automation. Source: cnet.com

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Warren says she won’t take major donations from big-tech execs

“The Massachusetts Democrat said she’d swear off contributions of more than $200 from executives at big tech companies, big banks, private equity firms or hedge funds” writes Queenie Wong for cnet.com. Elizabeth Warren, who’s vowed to break up big tech companies like Facebook, Google and Amazon if she becomes president, said Tuesday that she won’t accept major donations from executives in large tech and finance firms.Over the weekend, to prove a point about the company’s policy, Warren ran an ad with the false claim that Zuckerberg endorsed Trump. Source: cnet.com

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A deep dive into Amazon’s enormous growth over the past decade as it tries to maintain its lean management culture and prepares to fend off regulators

“Amazon employees, Freed discovered, studied the Leadership Principles like Talmudic texts” writes David Rohde for newyorker.com. Now, a recently retired Amazon executive told me, “people are worried—we’re suddenly on the firing line.” Amazon executives were also concerned about dramatic changes within the company. Source: newyorker.com

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HSBC’s reported job cuts signal that banks are struggling to find their postcrisis footing

“Before the financial crisis, banks could provide a quick fix to the bottom line by increasing lucrative areas such as proprietary trading, a unit where banks put their own capital at risk” writes Lina Saigol for marketwatch.com. Moreover, an onslaught of fines and litigation expenses related to aftermath of the 2008-09 financial crisis have also dragged down revenue and impinged profits.JPM, -0.04% were three of five banks fined nearly $900 billion (€1 billion) by the European Union’s competition watchdog for allegedly rigging the multitrillion–dollar currency market.The brutal reality is that…

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WeWork plans to cut 2k jobs after failed IPO

“In the presentation, made available to all 12,500 or so WeWork employees, Minson apologized for the recent weeks of uncertainty” writes Ellen Huet for oregonlive.com. WeWork employees are accustomed to routine firings, unlike at the typical startup in growth mode.And making a show of cost-cutting may not be the formula to sell a new stock to public investors, who are looking for a growth story.For now, WeWork just needs to convince private investors, SoftBank in particular. Source: oregonlive.com

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The real reason for Trump’s meltdowns

“Yes, there were those disastrous years between 1995 and 2004 when Trump Hotels & Casino Resorts was a public company (investors lost about 90% of their money) “ writes Paul Brandus for marketwatch.com. I’ve said this before: Trump spent most of his life as the CEO of a privately held company.This explains much about how Trump — whose company has been linked with everything from housing discrimination to outright fraud — has gotten away with so much. Source: marketwatch.com

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Crypto News Platforms 

Blockchain.com to See Departure of Two More Top Executives

“Another two top executives of crypto wallet platform Blockcain.com are about to leave the company, The Independent reported on Wednesday” writes Arnab Shome for financemagnates.com. Apart from the executives, many junior employees also left the blockchain startup.The company mainly provides a free wallet platform to store Bitcoin.Both of them are among the longest-serving executives of the firm.In July, the company jumped into the crypto trading business by launching an exchange. Source: financemagnates.com

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Rutgers staff shut out of presidential search committee, union says

“There is only one problem: 13,000 unionized staff have been shut out of the 23-member search committee” writes Star-ledger Guest for nj.com. For more about the top-heavy, unnecessary layers of Rutgers executives with bloated and exorbitant salaries, go to: Rutgers organizational charts.But right now, there is only one union represented on that search committee, and that is the AAUP faculty union.Unfortunately, that is exactly what they have done with the presidential search committee and in other key university decisions. Source: nj.com

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