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The Morning Risk Report: WWE’s Saudi Show to Go On Despite Reputation Risk |
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WWE is proceeding with a Nov. 2 event in Riyadh, despite questions from observers about the potential risk to its reputation following the death of journalist Jamal Khashoggi. PHOTO: AGENCE FRANCE-PRESSE/GETTY IMAGES
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Good day. World Wrestling Entertainment Inc. said its planned “Crown Jewel” wrestling event will go on in the Saudi Arabian capital next week despite questions from analysts and observers about the potential risk to the company’s reputation, Risk & Compliance Journal’s Samuel Rubenfeld reports.
The decision comes as many Western companies seek to distance themselves from the country following the killing of Saudi journalist Jamal Khashoggi and allegations that the Saudi Arabian government was involved. WWE, which has spent years working on its reputation, has been criticized over its equivocation about hosting the event.
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The Stamford, Conn.-based company cited contractual obligations with the General Sports Authority, the government body responsible for sports in Saudi Arabia, as the basis for its decision to go ahead with the Nov. 2 event in Riyadh. The choice, the company said, was similar to other U.S.-based companies that plan to continue operations in Saudi Arabia.
“WWE has operated in the Middle East for nearly 20 years and has developed a sizable and dedicated fan base,” the company said, adding that its 2018 earnings guidance is predicated on staging the event in Riyadh as scheduled. “Considering the heinous crime committed at the Saudi consulate in Istanbul, the company faced a very difficult decision.”
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Behavioral Scientists Join Risk-Assessment Teams |
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Behavioral science is finding its place in risk management as companies increasingly understand that a mechanical, box-ticking approach to compliance isn’t enough to avert misconduct, Risk & Compliance Journal's Mara Lemos Stein reports.
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U.S. Charges, Places Sanctions on Singapore Commodities Executive |
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U.S. authorities imposed sanctions on the owner and director of a Singapore-based commodities-trading firm for allegedly laundering money on behalf of North Korea.
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U.S. Hesitates Over Scope of Finance Sanctions on Iran |
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The Trump administration, days before imposing sanctions aimed at the heart of Iran’s economy, is wrestling with the question of how hard to push European allies to cut off the country from the global banking system.
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Treasury Official Accused of Leaks Feuded With Another
Unit |
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The arrest last week of a senior Treasury Department official for allegedly leaking sensitive records to BuzzFeed News had its roots in a bureaucratic dispute dating back to the Obama administration.
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The Criminal Trial is Over. Will NCAA Sanctions
Follow? |
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When a jury convicted men on fraud charges for paying families of high school players to attend Adidas-affiliated universities, the schools were cast as innocent victims. It remains to be seen whether the NCAA will see it the same way.
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CHRIS RATCLIFFE/BLOOMBERG NEWS
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At Netflix, Radical Transparency and Blunt Firings Unsettle the
Ranks |
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Netflix Inc. takes its culture seriously, believing it a crucial ingredient in the success the company has enjoyed en route to becoming a behemoth with 137 million global subscribers.
To many Netflixers, the culture, at its worst, can also be ruthless, demoralizing and transparent to the point of dysfunctional, according to a Wall Street Journal article based on interviews with dozens of current and former employees.
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Trucking Companies Boost Prices Amid Capacity Squeeze |
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Trucking companies are flexing their pricing power, pushing retailers and manufacturers to pay more to buy into a strong U.S. economy and adding to inflation pressures in supply chains.
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American Airlines Is Hurt by Jet-Fuel Costs |
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American Airlines Group Inc. is struggling to recoup surging fuel costs, setting the world’s largest carrier apart from competitors that have raised ticket prices and fees to boost profit.
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Facebook Fined Over Cambridge Analytica Case |
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The U.K.’s privacy watchdog fined Facebook Inc. $645,000 for allowing illicit access to users’ data by the political-data firm Cambridge Analytica—and said it would have handed the social network a bigger fine under GDPR.
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British Airways Says Data Breach Larger Than Estimated |
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British Airways parent International Consolidated Airlines Group SA on Thursday said a cyberattack on passenger data this year was far larger than first estimated.
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IAG said 185,000 more British Airways passenger records were potentially stolen in an attack that took place between August 21 and Sept. 5. The figure is on top of the 380,000 credit-card records British Airways previously said may have been exposed when its website and app were breached.
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Consulting Firm McKinsey & Co. Takes On Design Strategy |
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StrategyConsulting Firm McKinsey & Co. has acquired two independent design firms to take on design strategy. Its new division, McKinsey Design, will offer hands-on creative solutions to complement its strategic services. It has already developed products including diabetes managements tools, interactive mirrors, and rocking chairs that convert to bassinets.
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Expedia Buys Pillow and ApartmentJet, Moves More Into Airbnb’s Turf |
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Expedia Group Inc. bought two startups that help multifamily property owners manage short-term rentals as the online travel company looks to expand accommodation options and capture share from firms like Airbnb Inc.
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Activist Investor Wants Liberty Property to Consider Selling Itself |
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Activist hedge fund Land & Buildings Investment Management LLC has been pushing Liberty Property Trust to consider selling itself, according to people familiar with the matter.
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Third Point Sues Campbell, Alleging Misinformation |
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Third Point LLC sued Campbell Soup Co. and its board, alleging the food maker distributed misleading and incomplete information to win shareholders’ support in a heated proxy fight over control of the company.
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