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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 […]