Latest News

Worker Productivity Revised Up for Second Quarter

U.S. Productivity during the spring rose at its fastest rate since the latter part of 2013 while the cost of labor declined. Worker productivity was up at an annualized rate of 3.3% during the quarter April through June, reported the Labor Department on Wednesday. The rate rebounded from the first three months of 2015 when […]

CEO Marchionne Fuels Merger Talks Between Fiat Chrysler and GM

CEO of Fiat Chrysler Automobiles Sergio Marchionne is maintaining his campaign of merging with General Motors. Marchionne publicly has pushed for the consolidation, citing the rising cost of production amongst a number of other reasons, since he oversaw the Fiat and Chrysler merger. He has been eyeing the possible combination of GM and FCA even […]

Consumer Sentiment Declines in U.S. to Low of Three Months

Consumer confidence fell during August to a low of three months as the recent turbulence in the stock market weighed on the outlook of Americans for the economy in the upcoming year. The University of Michigan consumer sentiment index for August fell from July’s 93.1 to 91.9. The projection by analysts averaged 93, which was […]

McDonald’s Says No to McWhopper Offer by Burger King

McDonald’s declined a proposal by Burger King to partner in a McWhopper for world peace. The new burger would have combined the elements of the two chains’ famous Whopper and Big Mac burgers to create the McWhopper a new double-decker burger. These burgers would have been only sold for one day in a franchise that […]

Gas Prices Have Dropped over the Past Few Weeks

Filling up a passenger vehicle in the United States is the cheapest it has been in more than a decade, yet its remains too expensive. The average price of a retail gallon of gas in the U.S. dipped on Sunday to $2.95, which was down 7.4 cents from the week before and was the lowest […]

Smart Shirt by Ralph Lauren Laden with Sensors

The sensor-laden shirts by Ralph Lauren are finally being manufactured in masses providing the masses will pay $295 for the workout shirt. At an event held this week in New York City, the brand revealed the pricing as well as availability for the PoloTech line of apparel made in collaboration with OmSignal a tech startup […]

Jobless Claims Rise, But Analysts See Strong Labor Market

Jobless claims have increased for four straight weeks but are still at historical lows. The number of people in the U.S. seeking unemployment benefits for the first time rose just slightly this past week but remained as historical lows, which suggest there continues to be a strong labor market. Initial claims for unemployment, a proxy […]

Walmart Lowers Outlook As Profit Comes Up Short

Walmart the world’s largest retailer cuts its forecast for annual profit as it was hurt from a strong U.S. dollar as well as lower margins across the U.S. The company also was hit on more spending for e-commerce and on wages. The Arkansas based retailer reported that earnings for its second quarter were $1.08 per […]

Travel Delayed as Flights Grounded Due to Technical Problems

Technical problems at a Virginia air traffic control center left many passengers stranded due to hundreds of flights to and from different airports across a large around of the northeast were canceled or delayed on Saturday. The Federal Aviation Administration put the blame for the problem on technical issues at a Leesburg, Virginia air traffic […]

Shares of J.C. Penney Increase on Upbeat Earnings

J.C. Penney shares were up on Friday as the department store retailer continued its effort to turnaround its fortunes by reporting results for the quarter that topped estimates on Wall Street and boosting its guidance for the year. Penney’s stock increased by 8.55% shortly after the markets opened in the U.S. based in the reported […]

GE Selling Healthcare Financial Services to Capital One

General Electric Co reached an agreement with Capital One Financial Corp to sell its healthcare lending business in the U.S. and a large package of loans for $9 billion as part of an effort to streamline its operations. The U.S. based conglomerate said back in April that it would sell the majority of GE Capital, […]

Nokia Prepares Its Mobile Comeback

Nokia is hiring experts in software, testing new products and looking for sales partners as it is setting up its return to the mobile device and consumer tech segment that it abandoned when it sold its mobile handset business. At one time, the largest maker of mobile handsets, the company, based in Finland, was caught […]

Foxconn Planning Investment of $5 Billion into Maharashtra Plant

Foxconn, based in Taiwan, is the largest contract electronics maker in the world and a key supplier for Apple Inc. On Saturday, the company signed a new pact with Maharashtra for an investment of $5 billion over a period of five years for a new manufacturing facility for electronics. The announcement was released by Terry […]

Super Bowl Ads Reach New Record High of $5 Million

The controversial almost hilarious Deflatgate has not let any air out of the sales of the Super Bowl advertising prices, which have reached yet another record high. Advertising for the Super Bowl was already more lucrative than ever before and this season’s game will be no different as it was announced by CBS that 30-second […]

Shire Attempts Hostile Takeover of Baxalta for $30 Billion

Shire launched a $30 billion hostile takeover of all stock for Baxalta, a drug maker based in the U.S. that was spun off recently from Baxter, after its first proposal to the board at the company was rebuffed. Shire, based in Dublin and listed in the UK, said the combination with Baxalta would create a […]

USPS Increasing its On-Demand Delivery Services

When one thinks about deliveries from e-commerce purchases, the focus always seems to turn to FedEx or UPS. However, the United States Postal Service is now delivering close to 40% of the nationwide orders at Amazon, which is more than both FedEx and UPS. The USPS’s infrastructure is set up already to handle same-day deliveries […]

Exxon Mobil Profit Lowest in Six Years on Oil Price Drop

Exxon Mobil Corp posted the worst quarterly performance by the company in six years as the worldwide glut in oil collapsed the prices quicker than explorers were able to cut costs. Net income was down to over $4.19 billion equal to $1 per share from last year’s $8.78 billion equal to $2.05 per share during […]

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 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 […]