Latest News

Twitter Falls on Worries Over User Growth

Twitter Inc shares were down steeply on Wednesday as much as 13.3% during the first few minutes of trading due to investors digesting the micro-blogging company’s earnings for the second quarter and its weak growth in users. That is a big reversal from the reaction of Tuesday immediately following the report on earnings, when shares […]

CurrentC a Rival to Apple Pay Rolling Out in August

Electronic payment system CurrentC backed by a number of the largest U.S. retailers, will start a limited rollout to the public in August, and says a national business news agency. The technology which is smartphone based is intended to rival that of the payment systems offered by Google, Samsung and Apple and a launch in […]

Charges for Restructuring Eliminate Nearly All Profit at Xerox

Xerox Corp hardly managed to end the second quarter with any profit after the copier and printer maker took a huge charge related to a revamping of its business, which provides care-management and administrative services to government programs in healthcare. Xerox, whose stock was down in trading before the bell by 0.7%, announced last week […]

All-Day Breakfast to Appear on Menu at McDonald’s

After completing successful tests in selected restaurants in San Diego, McDonald’s will be soon serving its McMuffins, Hash Browns and other breakfast menu items all day. The behemoth of fast food companies is said to be going forward with its plan or McMuffins around the clock along with all the other breakfast menu items. The […]

A&P the Grocery Store Chain Files For Bankruptcy

Great Atlantic & Pacific Tea Co the chain of supermarkets known more popularly as A&P has filed for Chapter 11 bankruptcy for a second time in the past five years. It said it was currently holding discussions with buyers for some stores. The company, which is 156 years old, hired Evercore Partners a specialist in […]

Google Comments Lift Etsy

On Thursday, during an earnings call, Omid Kordestani the Chief Business Officer for Google said just a single flattering thing about e-commerce company Etsy, which caused its stock to soar by over 38% in trading on Friday. While that is very good over the short term, adding over $700 million to market value during the […]

Revenue at Domino’s Misses Analysts Estimates

Domino’s Pizza Inc posted revenue for the quarter that missed estimates by analysts for just the first time in the past two years due to the strong dollar and added that CFO Michael Lawton would retire on August 31. Shares of the pizza company were down by 3% in midday trading Thursday on the NYSE. […]

JPMorgan Beats Estimates on Profit as Expenses Fall

Kicking off the earnings season for banks in the U.S. for the second quarter, JPMorgan Chase & Co reported an increase in profit that was better than had been expected on Tuesday, boosted by a drop in its restructuring and legal expenses and a tax bill that was smaller. Like other financial institutes, the biggest […]

Puerto Rico Cost of Living Soars as Debt Crisis Continues

In a recession for 9 years, the Caribbean island is battling as items in supermarkets that are 21% higher than the average in the U.S. even as more than 41% of the population lives amidst poverty. Puerto Rico is going through a severe fiscal crisis as it is in debt by more than $72 billion, […]

PC Shipments Drop Almost 12%, Apple Surges

PCs are being purchased by fewer and fewer people, unless they have the Apple logo on them, shows the lasted data from the industry. Global shipments of PCs plunged to 66.1 million units, which was worse than had been expected during the second quarter of 2015. That marked a decline of 11.8% compare to last […]

United Airlines Flights Resume after Being Grounded Two Hours

United Airlines has resumed flights after a glitch in its computers halted all of its departures in the U.S. for close to two hours. The glitch disrupted travel for thousand of United passengers in its second similar setback in less than two months. The Federal Aviation Administration in the U.S. disclosed the end of the […]

Amazon Ready to Launch Prime Day

Amazon.com Inc is planning to leave behind Black Friday in its wake. On Monday, the company announced that Black Friday would have to step aside because Prime Day was here. The e-commerce behemoth revealed that July 15 would be the launch day for huge sales it called bigger than any Black Friday, the day following […]

JetBlue Flying to Cuba with Regularly Scheduled Flights

The United States has resumed diplomatic relations once again with Cuba for just the first time in over 50 years. That has caused airlines to seize a huge opportunity to carry Americans to the Caribbean island nation that for the majority remains a mystery. The White House eased travel restrictions to Cuba, which allows American […]

CEOs at Whole Foods Apologize For Overcharging

Executives of Whole Foods are admitting that the chain has overcharged New York City customers, but promised that if it were to happen against they will give the food away for free to customers. Walter Robb and John Mackey, Whole Foods co-CEOs, apologized to their customers through a video that was filmed in the fruit […]

Greece Says It Will Not Make Loan Payment to IMF

Yanis Varoufakis the Finance Minister of Greece announced on Tuesday that Greece would not be making its debt payment owed the International Monetary Fund by a deadline of midnight on Tuesday. This sets the stage for a very tense showdown with international creditors ahead of a national referendum regarding its membership of the common currency […]

Aetna Closing in on Acquisition of Humana

Aetna Inc the health insurer based in the U.S. is near to acquiring its rival Humana Inc. A deal might be signed as soon as this weekend, reported a national news agency, citing people close to the situation. Humana also received another offer from the Cigna Corporation but the board at Humana preferred the offer […]

Consumer Sentiment Up to High of Five Months

Consumers adopted a brighter attitude toward the U.S. economy during June, according to a survey released on Friday that followed an upward trend during this week of economic reports. The consumer sentiment index was up 6% during June from last month reaching 96.1, said officials at the University of Michigan. These results have not put […]

Ahold Acquisition of Delhaize Creates Huge Grocery Chain in U.S.

Ahold the supermarket operator based in the Netherlands and Delhaize Group based in Belgium announced on Wednesday they had reached an agreement to an all-share merger, which would create one of the largest chains of supermarkets in the U.S. This deal would combine Belgium’s Delhaize, which is the owner of Hannaford and Food Lion supermarket […]

Noodles & Co Executive Dropping Soup for Hot Dogs

Noodles & Co the fast casual restaurant operator is losing a top executive to one of its competitors. The executive is reportedly to run Portillo’s Restaurant Group a seller of hot dogs that is backed by private equity money. Noodles & Co, which operates more than 450 restaurants that sell noodle- and pasta-based dishes, said […]

Mylan Following Tax Inversion Does Not Want to be Foreigner

Mylan NV moved its corporate domicile overseas earlier this year in order to lower the amount of U.S. taxes it pays, but it is now asking the government in the U.S. for help in fighting off a hostile takeover. Thus far, there has been no answer from the government. The maker of generic drugs relocated […]

Rite Aid Cuts Profit Outlook

On Thursday, Rite Aid Corp lowered its profit outlook for the full year after reporting earnings for its first quarter that were worse than had been expected, hurt by taxes related to an acquisition that is pending and interest costs. The drugstore operator cut its forecast for profit to between 14 cents and 22 cents […]

Profits at Airlines Soar as Prices of Fuel Drop

At a top airline, executives’ meeting this past week in Miami the word every executive had on his or her lips was discipline, which translates to few seats, high ticket prices, and larger profits. Despite plunging fuel costs, the single biggest airline cost, little of the savings is getting passed on to passengers, but instead, […]

Twitter CEO Stepping Down July 1

Twitter Inc has announced that CEO Dick Costolo will step down from his position July 1. Investors received the announcement with optimism as shares were up in both premarket trading and midday trading for the 140-character micro-blogging social media site. However, analysts said the company had a future that is uncertain unless it is able […]

Supplier of Eggs for Costco Accused of Animal Abuse

The Human Society is alleging inhumane practices at the Hillandale Farms located in Gettysburg, Pennsylvania. The group said that an activist who was undercover was hired as an employee at the farm and recorded video in April and May of chickens being force to live in conditions that were not sanitary. The manager of the […]

McDonald’s Comparable Sales in May Drop Less Than Expected

McDonald’s Corp posted a drop in its worldwide sales at comparable stores that were less than had been expected during May, as European sales were able to offset a drop in the U.S. Shares at the biggest burger chain in the world by revenue were up 0.5% during early morning trading on Monday. The May […]

Greg Penner Takes Over as Walmart Chairman of the Board

At Walmart, an era ended this week, when founder Sam Walton’s son Rob Walton stepped down from his position as board chairman of the retailer turning that position over to son in law Greg Penner. The change was announced during the annual meeting of the company. Though the move’s timing was a bit unexpected, Penner, […]

Jobless Claims in U.S. Dropped Last Week

Fewer people last week filed for unemployment benefits, which signaled the job market in the U.S. remains strong, ever after a plunge in growth at the beginning of the year. Claims for jobless benefits dropped by 8.000 down to 276,000 for the week ending May 30 from the revised 284,000 during the prior period., said […]

Euro Strengthens on Greek Deal Optimism

The euro has strengthened on Tuesday versus the U.S. dollar, which was headed on Tuesday to post its largest loss of one day against one currency since the middle of March, on the expectation that Greece was close to reaching a deal with creditors. The creditors are near finishing a new draft agreement that would […]

Bank of America Paying $30 Million Fine for Debt Collection Methods

Bank of America is to be fined $30 million for the violation of the consumer’s protection with regard to collecting debt from military personnel. Treasury Department division, the Office of the Comptroller of the Currency made the announcement late last week of the civil penalty. BOA is the second largest bank in the U.S. and […]

Eli Lilly and AstraZeneca Testing New Combination of Cancer Drug

Eli Lilly and AstraZeneca are combining two cancer drugs in a clinical trial against tumors that are solid in the latest sign such cocktails might be what lies ahead in fighting the deadly disease. The experimental AstraZeneca antiPD-L1 immunotherapy MEDI4736 is to be tested alongside the approved medicine Cyramza by Lilly, the two companies announced […]

Cyber Attack Exposes Tax Returns at IRS

Criminals used data that was stolen to get access to prior tax returns for over 100,000 people through an application on the website of the Internal Revenue Service, said the agency on Tuesday. Using social security numbers, birth dates, street addresses and other information that was obtained elsewhere, the hackers completed a authentication process and […]

Charter Communications Closing in on Time Warner Cable Deal

Charter Communications is closing in on a deal to acquire Time Warner Cable for $55 billion that would boost the cable operator up to the rank of one of the largest pay television and broadband companies in the U.S., creating a potent rival for DirecTV and Comcast. The companies are currently holding advanced talks for […]

Richest Man in China Loses $15 Billion in An Hour

Li Hejun the richest man in China had a bad week this past week. The chairman of Hanergy the solar panel company lost over $15 billion Wednesday when company shares dropped by 47% in trading on the Hong Kong exchange in just over an hour. The company had more than $18.6 billion wiped from its […]

Jobless Claims in U.S. Increase; Average for Four Weeks at 15-Year Low

The number of people in the U.S. filing new unemployment benefit claims was slightly higher than expected during last week, but the overall trend continued suggesting that the labor market was still tightening. The jobs market has strengthened despite the economy remaining sluggish that is characterized by tepid spending by consumers as well as weak […]

TJX Increases Profit for Full Year Forecast

TJX Cos., the owners of Marshalls and TJ Maxx, the off price chains, has announced it raised its comparable sales and profit forecast, for the full year after being encouraged by more shoppers hungry for bargains and visiting their stores. Shares at the company, which reported sales and profit for the quarter that were better […]

Starbucks Employee Rants at Customer, No Longer Working

An employee at Starbucks in Queens, New York was suspended and is no longer working for the company after a video was posted on social media giant Facebook of her yelling at and berating a customer. The video starts with the employees screaming at a customer over a straw. When her customer asks to see […]

Consumer Sentiment Drops the Most in More Than Two Years

Consumer sentiment in the U.S. fell unexpectedly during May by is most in over two years as the economy was viewed by Americans in a bad light. The preliminary index of sentiment from the University of Michigan dropped from 95.9 during April to 88.6, which is its lowest since October. The decrease of 7.3 points […]

Nissan Profit Increases on Growth in Sales and Cost Cutting

Nissan Motor Company the second largest automaker in Japan said it is expecting its operating profit to increase by 15% during the current financial year, It forecasted its sales growth for vehicles in most of its regions and promised large cuts in costs. This follows strong earnings in its just ended year due to big […]

Noble Energy Acquiring Rosetta Resources in a $2 billion Deal

Noble Energy the natural gas and oil producer said it was purchasing Rosetta Resources for $2 billion, which highlights a consolidation driven by the steep fall in oil prices around the globe. The deal would give Noble an entry into Texas Permian Basin gas and oil regions and the Eagle Ford Shale field. Shareholders of […]

April Inflation in China Remained Muted

China’s inflation was muted more than expected during April and producer prices dropped for the 37th straight month, which added to concerns over growing deflationary pressure that likely will trigger further easing measures by the government. Annual consumer inflation rose 1.5% during April edging up from the 1.4% in March but well below the 1.6% […]