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In 2Q17, $GES' free cash flow was an outflow of $62MM, driven by changes in working capital, lower earnings and increased CapEx. Company ended 2Q17 with cash and cash equivalents of $415MM. Adjusted effective tax rate was 42% versus 37% in 2Q16, mainly due to a geographic shift in jurisdictions where profits are generated and.
$GOOG’s Waymo accuses Uber of stealing its intellectual property. Startup Otto, which was recently acquired by Uber, also named in the lawsuit. Stage set for another dramatic legal battle!
We all knew $VALE CEO Murilo Ferreira was going out soon, but now I hear he has no idea who will succeed him!
$JCP, another traditional retailer that just shocked us with its biggest number of store closures.