John Howard
John Howard is the Business Editor at BusinessPundit.com. He is an avid watcher of markets, a wallflower of retail, and a fan of disruptive businesses that utilize technology and unique ideas to form brilliant new ways of doing business.
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Americans donated a record $373.3 billion to charities in 2015
Americans donated an incredible $373 billion to charities in 2015. That money was collected from individuals, estates, foundations, and companies, according to the annual report Giving USA. A new record of $359 billion was set in 2014. Individual donors were far and away the biggest supporters of various charities. They donated $264.6 billion for a 4% […]
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The world’s richest banker Joseph Safra has been charged with corruption
Brazilian prosecutors on Thursday charged Joseph Safra, the world’s richest banker, with a scheme aimed at paying bribes to government officials in return for waiving tax debts. Prosecutors say Safra had knowledge of a 2014 plan executed by executives at his BancoSafra SA to pay $4.2 million in brides to federal tax auditors. Prosecutors will present […]
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Life after Warren Buffett? UBS says Berkshire Hathaway is ready
Warren Buffett is synonymous with Berkshire Hathaway but there will eventually be the day when the 85-year-old investor is no longer at the helm of the company he founded. When that day arrives UBS’ Brian Meredith believes the company will be able to get along just fine without its long-time leader. “While Buffett’s superior capital allocation […]
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Pandora shares tank 10% as founder returns as CEO
Pandora founder Tim Westergren is taking over as the company’s CEO and investors are not happy with the move. Shares at Pandora fell by as much as 10% on Monday after Pandora announced the executive-level management shakeup. Pandora has struggled to keep pace with the likes of Spotify and Apple. Investors in the company were […]
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Wealthy New Yorkers want their taxes to be raised
A group of wealthy New Yorkers are pushing Governor Andrew Cuomo to increase their tax rates. On Monday the group of wealthy men and women sent a letter that urged the passage of the “1% Plan for New York Tax Fairness,” which would replace a millionaire’s tax rates which are set to expire at the end […]
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Security giant ADT being purchased for $7 billion
Home security and alarm maker ADT started as a telegraph service in 1874 and morphed into the nation’s largest home security company. On Tuesday, it announced it was being sold for $7 billion. The company is being snatched up by private equity firm Apollo Global Management for $42 per share, a 56% premium on Friday’s closing […]
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HSBC is staying in London
Global banking giant HSBC has decided to keep its headquarters in London, England, after flirting with the idea of a move to Hong Kong. The company conducted a 10-month review amid concerns that tougher regulations and higher taxes in the UK would financially damage its business. The company’s board of directors unanimously voted to stay in the British capital, […]
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HSBC agrees to pay $470 million over alleged mortgage abuses
HSBC Holdings PLC has agreed to pay $470 million to settle federal and state allegations of abusive practices in its US mortgage business. The British bank will compensate some customers who lost their homes or had their loans modified. The bank must also make major changes to the way it services mortgages and handles foreclosures. An […]
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$20 oil is on the horizon if US dollar remains strong
The strong US dollar and weak demand for oil in China could send the price per barrel to $20. Analysts at Morgan Stanley said on Monday that a 5% increase in the value of the US dollar would be enough to push down oil by between 10% and 25% or about $8 per barrel. Crude futures […]
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Yahoo planning to cut 10% of its workforce
Yahoo Inc. is planning to cut 10% of its overall workforce and it could begin the process in January, according to a report from Business Insider. “We are not confirming this rumor or commenting further”, Sarah Meron, a spokeswoman for Yahoo told Reuters on Thursday in an e-mail. If the news is accurate it would […]
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Boston Globe reporters to personally deliver papers on Sunday
The person delivering your Sunday edition of the Boston Globe might very well be the person who wrote one of the very same paper’s news stories. Over the last week the Boston Globe has been hit with major delivery problems which have apparently angered the paper’s journalists. Writers and editors at the paper are now […]
