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CEO of KB Home has bonus slashed over tirade against Kathy Griffin

NEW YORK—KB Home’s board will cut chief executive officer Jeffrey Mezger’s annual bonus by 25 per cent as punishment for his profanity-laced tirade against comedian Kathy Griffin and warned he’ll be dismissed if he does anything like that again. Mezger’s bonus for the fiscal year ending Nov. 30 will be reduced by $375,000, based on performance targets, because of “recent …

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Liliane Bettencourt, L’Oréal heiress and world’s richest woman, dies at 94

Liliane Bettencourt, a French heiress to the L’Oréal cosmetics fortune who became embroiled in a family feud that exploded into a financial and political scandal involving former French president Nicolas Sarkozy, died Sept. 20 at her home near Paris. She was 94. Her daughter, Françoise Bettencourt Meyers, announced her death but did not disclose the cause. Bettencourt had been reported …

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U.S. duties on softwood lumber brings price surge, profit to Canada

WINNIPEG—Donald Trump’s policy on trade since becoming U.S. president has been all about putting “America First.” But in one corner of the commodity world, his actions are having the opposite effect. In a move intended to protect the domestic lumber industry, the U.S. this year slapped duties of as much as 31 per cent on imports of timber from Canada, which …

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What does the future of online transactions look like?

One of the most exciting things about the future looming over us is the ability to use what we know now to predict what could happen. The autonomic revolution is already underway – with self-driving cars, and automated machinery on the rise. But what does the future look like in way of making payments? We’ve seen evidence that change is possible …

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How to stop making your bank even richer: Vaz-Oxlade

Banks are some of the most profitable businesses in this country. Are you making them rich? The profits banks make off the fees and interest are astounding. And you know what? You’re probably contributing in no small way to that profitability with your penchant for using credit and your apathy towards fees. First up are all the idiots who pay …

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Sexual harassment, aggressive behaviour claims hang over SoFi CEO

SAN FRANCISCO—For months, the text messages came. Some were flirtatious, asking her to meet him late at night. Sometimes, the texts were sexually explicit. The messages were directed at Laura Munoz, an executive assistant at the online lending startup Social Finance. The texts were from her boss, Mike Cagney, the company’s chief executive, according to five people who spoke with …

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Why September is the cruellest month for investors: Pape

September and October aren’t only the worst months for hurricanes. They’re also bad for the stock markets. According to data compiled by the Yardeni Research, a U.S. company whose reports are widely used by financial professionals, over the years from 1928 to 2016 the S&P 500 lost an average of 1.1 per cent in September. No other month even comes …

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Security experts ask why Equifax breach was so extensive

SAN FRANCISCO—How could this happen? Other than how to protect themselves that’s the question on everyone’s mind about a security breach that could put as many as 143 million Americans at financial risk for the rest of their lives. On Tuesday, credit reporting company Equifax told USA TODAY the breach was due to an Apache Struts vulnerability. Apache Struts is …

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U.S. senators seek investigation of Equifax stock sales following data breach

WASHINGTON—More than one-third of U.S. senators want the Securities and Exchange Commission and the Department of Justice to get to the bottom of whether Equifax Inc. managers violated insider trading laws when they sold stock days after the company found out it was hacked. Thirty-six lawmakers, consisting of mostly Democrats and some Republicans, signed letters sent to the agencies and the …

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Kik spurns Canada for initial coin offering because of OSC’s ‘weak guidance’

Kik Interactive Inc., a Canadian messaging app preparing to hold one of the highest-profile initial coin offerings yet, said it won’t allow investors from its home country to participate in the offering. Chief executive officer Ted Livingston blamed “weak guidance” from the Ontario Securities Commission for the decision. “They have failed to give us clear direction on when Canadian securities …

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