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Chris Donat of Sandler O'Neill asks about the elevated spending in 2016 and its impact in 2017. $AXP said it will increase investments for 2016 and investments take many forms such as marketing and technology. In 2017, $AXP expects the elevated level to drop. $AXP believes it is progressing in efforts to reduce cost base by $1Bil by 2017-end.
$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.