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Uber Fights Against Transportation Provider Label In Europe

Uber is defending its business model in Europe’s highest court today. The Court of Justice of the European Union (ECJ) could label Uber a transport company rather than a digital service, a designation that could hobble the company. That ruling would subject the company to stricter rules on licensing, insurance and safety. Judges in Luxembourg […]

Macy’s Announces Future Real Estate Plans

Macy’s (NYSE:M) recently announced a deal with real-estate company Brookfield Asset Management to redevelop 50 of its 800 stores, or roughly 6 percent of its store base. The Starboard hedge fund pushed Macy’s to wring some money from its real-estate holdings. Macy’s real estate could be worth as much as $21 billion, which is more […]

Samsung’s Woes Greatly Benefit Apple

Apple (NASDAQ:AAPL) is now the most profitable smartphone seller in the world by far. In the third quarter of 2016, Apple took 103.6 percent of the profits from all smartphone sales, according to estimates. Samsung was barely profitable for the quarter, capturing just 0.9 percent of the profits. The quarter marks the first time that […]

Tesla Unveils New Solar Products

Tesla (NASDAQ:TSLA) Chairman and CEO Elon Musk wants to expand from electric vehicles to clean energy systems for homes and offices. Edging closer to that goal, the company unveiled new solar panel tiles and energy storage units for homes at its latest show. The unveiling showed the products on four of the Wisteria Lane houses […]

Goldman Sachs Tops Income And Revenue Predictions

Goldman Sachs (NYSE:GS) reported third-quarter earnings that easily beat the predictions of Wall Street analysts. The bank reported a 58 percent increase in its net income for the third quarter of 2016, earning a profit of $2.1 billion, or $4.88 a share, in the July-September quarter, compared to $1.3 billion in the year-ago quarter. Its […]

Flights Delayed Worldwide After United Airlines Computer Glitch

A computer glitch temporarily halted departures at United Airlines (NYSE:UAL) late Thursday, leaving thousands of passengers delayed worldwide. The widespread delays were caused by two separate problems with United Airlines’ computer systems. The first glitch affected United’s luggage weighing systems. Another issue also arose, but spokeswoman Maddie King said she did not know its nature […]

Viacom, CBS Form Independent Committees To Consider Merger

Viacom (NASDAQ:VIA) has formed an independent board committee to review a proposed merger with CBS. National Amusements formally urged the companies to explore an all-stock recombination in a letter last week. National Amusements is controlled by Sumner Redstone and his daughter Shari. Through the holding company, the Redstones own about 80 percent of the voting […]

American Express Wins In Appeals Court

A federal appeals court has ruled that American Express (NYSE:AXP) can block merchants that accept its cards from steering customers toward lower-cost cards from other issuers. The provisions in American Express’ merchant agreements are meant to dissuade customers from using cards from Visa and MasterCard at retailers that take American Express cards. American Express had […]

Wells Fargo Scandal Shines Harsh Spotlight On Bank Practices

Wells Fargo & Co. (NYSE:WFC) is finding its policies under a harsh spotlight after the bank found itself entangled in a scandal over the opening of fraudulent accounts by its employees. A federal regulator and the Los Angeles prosecutor alleged that the company’s employees created roughly 2 million accounts for customers without their knowledge. Chief […]

Tech Giants Join Microsoft In Fight Against DOJ

Microsoft (NASDAQ:MSFT) has lots of allies in its fight against government intrusion. Tech giants Apple, Amazon, and Google have announced their support for Microsoft in its legal fight with the U.S. Department of Justice. News organizations The Washington Post, Fox News, and the National Newspaper Association also filed in support of Microsoft, along with Delta […]

7,000 Wal-Mart Employees To Lose Jobs

Wal-Mart Stores Inc. (NYSE:WMT) has announced plans to eliminate nearly 7,000 employment positions across its companies over the next several months. The job cuts will affect thousands of back-office positions around the country, including many store accounting and invoicing positions. Their tasks will now be handled by a central office or automated, according to company […]

Amazon Launches New Car Comparison Site

Amazon (NASDAQ:AMZN) has launched a new car comparison site called Amazon Vehicles. The company’s press release says, “Finding cars on Amazon Vehicles is simple — just search like you would any other product.” The platform will include specifications, images, videos, and customer reviews for a wide range of car models. The new site includes a […]

New BMW Ad Teases Electric Car Competition

BMW launched a couple of advertisements poking fun at its electric car competition as it gets ready to start selling its 330e iPerformance plug-in hybrid. The 330e iPerformance PHEV goes on sale this summer and will start at $44,695. One ad has a tag line that says: “You will wait, and wait and wait some […]

Merck Reports Increases In Profit And Revenue

Merck & Co. (NYSE:MRK) posted an unexpected increase in second-quarter revenue and an increased profit versus a year-earlier period. For the quarter, the company posted a profit of $1.21 billion, up 75 percent from $687 million a year earlier. Earnings rose to 43 cents a share from 24 cents a share. Excluding certain one-time costs, […]

Nintendo Gets Big Boost From Pokemon Go

Nintendo (NTDOY) shares got a big boost on Monday on the strength of its new Pokemon Go app. Shares of the company closed up 24.52 percent on Monday, rising to 20,260 yen ($199.70) a share. On Friday, the company’s stock rose 8.9 percent before the close of trading. In the past two sessions, the company […]

Criminal Probe Into Emissions Scandal Targets Former VW CEO

Volkswagen (VLKAY) former CEO Martin Winterkorn has been revealed to be the target of a criminal investigation into the automaker’s diesel-emissions scandal. German prosecutors are investigating whether Winterkorn violated securities laws and manipulated the market with his actions. Winterkorn resigned days after the crisis erupted, saying he was doing so “in the interests of the […]

Starbucks Announces Tea Partnership With Anheuser-Busch

Starbucks Corp. (NASDAQ:SBUX), one of the largest coffee companies in the United States, is teaming up with Anheuser-Busch InBev NV (NYSE:BUD), one of the nation’s biggest beer brewers, to create a bottled version of its Teavana tea. The companies announced the partnership Thursday and expect to finalize agreements for the new brand by the end […]

Dr. Reddy Stock Drops by 14% Following Warning by FDA

Dr. Reddy the drug maker based in India received new warnings from regulators in the U.S. on its processes used in manufacturing at two factories in the southern part of India, said company officials on Friday. The announcement sent its shares of stock lower. Dr. Reddy’s stock was down 14% at the end of trading […]

Germany Pressures Volkswagen as Scandal Enters Another Dimension

On Wednesday, officials in Germany stepped up their pressure on automaker Volkswagen to clean its act up after it said it understated the consumption of fuel of some of its vehicles, which opened another front in the crisis at the biggest carmaker in Europe. The company announced late Tuesday that it understated the amount of […]

Amazon Debuts Online Deals Store for Black Friday

Expanding on its success of the sales holiday known as Prime Day earlier this year, Amazon has announced that it is now going to launch a store that is dedicated only to deals for Black Friday, where members of Amazon Prime can have early access to some of the company’s best discounts. The Deals Store […]

Target and Walmart Unveil Plans for Holidays

Target and Walmart, two of the largest retailers in the U.S. rolled out on Thursday their plans to lure in shoppers to their stores during the upcoming holiday shopping season, which includes increased marketing, better looking stores and discounts. The moves by the two retailers illustrate just how important the shopping season during the holidays […]

Heineken Profits From Strong Sales in Americas and Europe

The third largest brewer in the world Heineken NV said on Wednesday that its revenues and volumes of beer grew more than had been expected during its third quarter, driven by stronger than expected sales in the Americas as well as a warmer than usual summer across most of Europe. The brewer based in Holland, […]

Bridgestone Buying Retail Chain Pep Boys

Bridgestone Corp announced that it has agreed to purchase the retail chain Pep Boys for $835 million, which pushes it deeper into the industry of auto-parts that has been the benefactor of Americans keeping their vehicles longer on the road. The price to take over the business is $15 in cash per share, a premium […]

American Airlines Posts Profit of $1.7 Billion on Fuel Costs

U.S. based American Airlines came close to doubling its net profit for its third quarter at $1.7 billion equal to $2.49 a diluted share, citing lower costs of fuel. The results compared to the airline’s profits of $942 million during the same quarter one year ago equal to $1.28 a diluted share. Not taking into […]

Western Digital Buying SanDisk the Maker of Memory Chips

Western Digital Corporation announced Wednesday that it has agreed to purchase SanDisk Corporation the maker of memory chips in a deal that includes stock and cash of $19 billion. Under the deal’s terms, investors of SanDisk would receive $86.50 per share in cash and stock for every share owned, representing a premium of 15% to […]

Halliburton Reports Drop in Sales of 36% as Fracking is Reduced

Halliburton Co’s saw its revenue fall by 36%, which helped to push the largest provider in the world of fracking services to a loss during the third quarter as the worst downturn in the crude market in decades is reshaping the industry. The company, based in Houston, had a $54 million loss equal to 6 […]

AT&T and Uber Testing Streaming of College Football

On Friday AT&T announced that it partnered with Uber and will roll out connect car rides across four cities for a limited period to let passengers see live college football games from their tablets while riding in the back of the vehicle. Since AT&T acquired DirecTV the satellite TV provider, in July for a price […]

Walmart Stock Plummets on Forecast of Lower Earnings

Shares of Walmart plummeted sharply on Wednesday after the retailing giant in the U.S. jolted the financial markets when it forecasted an earnings drop of between 6% and 12% during its fiscal year 2017. Shares at the Bentonville, Arkansas based company were lower by 8.7% on the unexpected announcement, delivered by Walmart executives during the […]

Ford Investing $1.8 Billion for Research in China

Ford Motor Co will invest $1.8 billion to develop new technologies that are aimed at attracting car buyers in China, underlining the importance of China to automakers despite the slowing growth of sales. The automaker based in Detroit said on Monday it would expand its R&D center in Nanjing a city in eastern China and […]

Shipments of PCs Continue to Drop

Personal computer shipments worldwide dropped during the quarter ending in September, as makers of PCs did not received a significant boost from the Microsoft launch of its new operating system Windows 10, shows data from two data trackers on Thursday. The International Data Corp said its shipments fell 11% to just 71 million units, which […]

Constellation Brands Beats on Profit as Sales of Beer Jump

Constellation Brands profit for the quarter easily beat estimates by analysts and the company increased its full year forecast for adjust profit again, driven by sales increases of beers under its Modelo and Corona brands. Shares of the company were up 3.8% in Wednesday premarket trading. Constellation has benefitted from strong demand from the increased […]

Business Growth in Euro Zone at Low of Four Months During September

Business activity in the euro zone grew at its slowest pace in the past four months last Monday. However, one sign of encouragement for the European Central Bank, service companies increased prices for just the first time in the past four years, showed a survey on Monday. The modest growth for the third quarter of […]

Sprint Likely to Have Layoffs with New Plan of Cost Reduction

Sprint is likely to be cutting some of its 31,000 strong workforce as part of the new cost reductions of $2.5 billion over the upcoming six months, a spokesperson with the company said on Friday. It is likely certain jobs are to be impacted by the cost cutting steps taking place, but it is too […]

ADP Says Employers Added 200,000 Jobs in September

In September, companies increased their hiring, indicating the job market in the U.S. was remaining firm even though there is weaker demand globally according to a new payroll report from ADP. An increase of 200,000 in jobs for September followed a revised increased of 186,000 for August showed figures released by ADP on Wednesday. The […]

Shell Pulls Out of Exploration in Arctic

Royal Dutch Shell has abandoned its search in the Arctic for oil after it failed to find sufficient crude. The move appears to appease environmental campaigners along with shareholders who said the project was too risky and too expensive. This withdrawal comes six weeks following the last clearance by the U.S. and three months after […]

Martin Winterkorn CEO at Volkswagen Resigns Amid Emissions Scandal

Martin Winterkorn the CEO at Germany-based automaker Volkswagen announced on Wednesday his resignation as the company is grappling with a cheating scandal regarding its emissions. Winterkorn said he was shocked at the events that have taken place the past couple of days and above all stunned that this misconduct on this large of a scale […]

Sales of Pre-Owned Homes in U.S. Drops More Than Forecasted

Sales of pre-owned homes in the United States fell more than what had been forecast for August as the lean inventories slowed the momentum for this year. Closing, which normally take place one month or two after the signing of a contract, declined by 4.9% to just over 5.31 million based on an annual rate […]

Consumer Prices in U.S. Post First Drop in Past Seven Months

Consumer prices in the U.S. unexpectedly fell during August as the prices of gasoline started to decline ago and a strong U.S. dollar curbed an increase in other goods, pointing to tame inflation that will complicate the decision by the Federal Reserve on hiking interest rates. The U.S. Labor Department announced on Wednesday that the […]

China Grabs Funds Unused by Towns and Cities for New Projects

Authorities in China have seized as much as 1 trillion yuan or $157 billion for different local governments who have failed to use their entire budget allocations, said sources, as Beijing looks for more ways to spend money to work its way out of its economic slowdown. A strategist in Shanghai stated that the economy […]

Salmonella Cases Tied to Chipotle Restaurants

A report that was issued by the Department of Health in Minnesota says that 45 salmonella cases have been reported since September 2. Thirty-four of the people have had interviews with members of the health department and of the 34, there were 32 who either had eaten or likely ate at one of 17 different […]