Must Read Money Stories for Thursday, June 9

by June 9, 2016

Must Read Money Stories

Turbulent Meeting

It was a rough annual meeting for United Airlines CEO Oscar Munoz. Several shareholders expressed frustration with the airline carrier’s leader, the Chicago Business Journal reports. Munoz has only been CEO since September, but several members of the meeting accused him of not doing enough to fix tensions between the company and its flight attendants. Many feel frustrated also with the long-standing conception that United’s board of directors hasn’t engaged enough with the carrier. Munoz originally served on the board of directors that resulted from United’s merger with Continental Airlines in 2010. Bloomberg reports that United was third in U.S. airline traffic last year.

The Bank Pays

The banking giant Morgan Stanley will pay a $1 million fine for a security breach that exposed thousands of clients’ data. CNBC reports that Morgan Stanley has agreed to the penalty, which the U.S. Securities and Exchange Commission issued. A former financial adviser from the company transferred 730,000 accounts to his home computer. He has been ordered to pay $600,000 and serve three years probation. Morgan Stanley has cooperated with regulators but has not admitted to wrongdoing.

A Win for Digital

Online advertising is set to overtake TV advertising next year, according to a new study by PwC. AdWeek reports that although broadcast advertising is projected to go from $69.9 billion in 2015 to $81.7 billion in 2020, Internet advertising will go from $59.6 billion to $93.5 million in the same period of time. The study concluded that mobile ads will see the largest increase at 49.4 percent.

Yahoo Patent Dump?

Yahoo! Inc. is turning to its intellectual property as a way to generate revenue. Bloomberg writes that the company is reviewing “non-strategic assets” that could total $1 billion to $3 billion if sold. Some of the bidders include Verizon, TPG and a group led by Warren Buffett. More than 3,000 patents are on the table for review, and some prospective buyers see them as a way to get a leg-up in the Internet industry.

 

N225UA United Airlines Boeing 777-222(ER) coming in from Chicago (KORD) @ Frankfurt – Rhein-Main International (EDDF) / 08.04.2015” by flickr user “Oliver Holzbauer.” CC license CC by SA 2.0.