Archive for February, 2014

Airlines Offering Luxury, Privacy and Perks

Airlines once again are upping the ante in first class service on international flights. However, this time around, it does not involve comfy chairs nor fancy meals. The airlines are now more focused on giving wealthy fliers a free pass through airports, without having to come in conducts with everyone else. American Airlines offers its […]

U.S. Senate: Credit Suisse Helping Americans Hide Billions

An investigation by a U.S. Senate panel says that billions of dollars of taxes in the U.S. are not being paid because Americans have exploited bank accounts in a Swiss bank that the government of the U.S. has not pursued aggressively enough. The bank, Credit Suisse, is the second largest in Switzerland and has approved […]

Drought in California to Cost Consumers

The ongoing drought in the state of California has caused farmers to feel the pinch. One farmer is worried if the drought continues throughout the year, he might lose his business. The farmer raises beef that is grass fed. However, with no rain and very little water for pastures it means little or no food […]

Mexico Becoming Leading Force in Production of Autos

Mexico accounts for more than 18% of the auto production in North America and employment in the auto industry there has increased by over 46% since 2009 to nearly 580,000 jobs. On Friday, at the new Celaya, Mexico $800 million plant, Honda’s first Fit rolled off the assembly line, another symbol of the growing presence […]

Downbeat Data Drops Global Markets

Shares on Thursday dropped while safe-haven currencies were up after downbeat data on China’s economic activity and in parts of Europe highlighted how fragile the economic recovering remains globally. It raised concerns over the withdrawal of central banks’ monetary stimulus programs. Shrinkage of China’s manufacturing set the tone of gloom that was then reinforced by […]

Shares at InterContinental Hotels Fall

InterContinental Hotels Group stock shares dropped nearly 4% on Monday after the company opted not to speak out about its plans to return additional cash to its shareholders in its results from the full year. The price of shares fell as the hotel group, which operates the brand Holiday Inn amongst others, reported a jump […]

California Enjoys Prolific Year for Wine Grapes

Aficionadas of wine will find it easier to purchase bargain bottles of wine after a bumper crop in 2013 worth $3.16 billion. Agriculture officials in California reported that great news for those who love wine and for operators of vineyards alike. The wine grapes harvest was record breaking. Growers in the premier wine region of […]

Lenovo Smartphone Sales Up 47%

Lenovo’s fiscal third quarter had record revenues and profits, with over 2 million smartphones sold in just China. Lenovo announced February 13 the results of its third quarter, which included revenues of $10.8 billion, marking just the first time it had surpassed $10 billion in revenues. Net profit for the company was $265 million, which […]

Surplus in China Trade Reaches $32 Billion

The trade surplus in China was up to $32 billion during January, which eased concerns the second largest economy in the world might be stuck in a sluggish economy. The latest surplus figure was more than 14% higher than last year and was stronger than the forecasted $23.7 billion surplus. Imports were 10% higher from […]

Profits at Nissan Beat Estimates

Nissan reported profits that were better than anticipated, helped by a weaker yen and by a sales recovery in China. The second largest Japanese carmaker said its profits increased by 57% to $825 million for the last quarter of 2013, which beat estimates of analysts. Last year, Nissan also set a record with 5.1 million […]

Coca-Cola Acquiring 10% Share of Green Mountain Coffee

Coca-Cola Co. has agreed to purchase a stake of 10% in Green Mountain Coffee Roaster for approximately $1.24 billion as well as work together with Keurig brewers to produce a new system for making cold drinks in single servings. Coca-Cola will purchase 16.71 million shares of newly issued stock for $74.98 each, said the two […]

BP Reports Weaker Profits for the Quarter

BP the no. 4 sized oil company in the West reported that refining weakness and ongoing cost for the Gulf spill hit their profits. The refining business encountered a loss, while the company said it would increase a provision in its accounting for the oil spill of 2010 of $200 million. Weaker margins in refining, […]

Hotel Company Latest to be Hacked

White Lodging is the company that maintains the hotel franchises of Westin, Sheraton, Hilton and Marriott and has apparently be hit with a data breach that has exposed the debit and credit card data of its guests in 2013, said Brian Krebs an independent security specialist. The banking industry noticed fraud in hundreds of payment […]

Walmart and Mattel Hit by Shopping Habit Changes

The shifting habits in shopping and the financial crisis have led to uneven fortunes of late for retailers. Mattel and Walmart considered traditional consumer businesses have continued struggling as many Americans spend cautiously in the still uncertain economy. However, Amazon.com has enjoyed success as shoppers are shopping more and more online instead of inside stores. […]

Chevron Profit Drops During 2013 Fourth Quarter

Chevron Corp’s profit dropped by 32% during the fourth quarter due to gas and oil production being lower and prices for refined fuels dropping relative to crude cost. The second largest oil company in the U.S. reported its earnings on Friday. Net income for the three last months of 2013 was $4.93 billion with revenue […]