Archive for January, 2015

Chevron Cuts Spending As Profit Plummet

Chevron Corp has slashed its budget for drilling by more than at any time in the past 12 years. The company said it might delay some projects in shale as producers of energy across the globe hoard cash as well as curtail ambitions due to oil prices being in a free fall. Chevron targeted capital […]

H&M Posts Increase in Profit, Planning New Stores

Hennes & Mauritz the Swedish fashion retailer says earnings increased by 12% during the 2014 fourth quarter boosted by growth in China and the United States. Net profit for the fourth quarter was 6.21 billion Swedish kronor or $754 million. That was up from the 5.5 billion kroner during the same period one year ago. […]

IBM Disputes Rumor of Huge Layoff

Last week a tech blogger wrote that IBM was scheduling a layoff of up to 26% of its workforce or close to 112,000 workers, in a huge restructuring move. The cuts, wrote the blogger would be predominantly focused on the struggling mainframe and storage businesses at IBM. IBM quickly responded that with a no comment […]

Eric Schmidt: Internet Will Eventually Disappear

Eric Schmidt the executive chairman at Google said this week that he predicts the Internet, as we know it will end. When asked at the Davos, Switzerland World Economic Forum what he predicts about the future of the Internet, he simply answered that it would eventually disappear. Schmidt said there would be such a large […]

Tootsie Roll Shares Up as Wife Takes Over for Late Husband

Tootsie Roll the candy company suffered a big loss on Tuesday, when its CEO for the past 53 years died unexpectedly. Tootsie Roll Industries has been a member since 1922 of the New York Stock Exchange. The company temporarily stopped prior to its news release. It released a press release from its headquarters in Chicago. […]

China Economic Growth in 2014 Slowest in Two Decades

The economic growth in China slowed in 2014 to 7.4%, which was its weakest growth in close to 25 years. The government has been forecast to slip even further in the upcoming two years. This has added to the headwinds in the global economy. The Tuesday numbers are still way ahead of the growth rates […]

Website Lets One Anonymously Hire Hackers

The website Hacker’s List allows the user to anonymously hire what it says are professional hackers that will perform hacks that range from getting into a Facebook page and someone’s email to crashing a website and changing someone’s academic scores. The terms of the website and its conditions forbid any illegal activity. The site claims […]

Luxembourg Slammed by EU over Help Given to Amazon

Luxembourg could be giving online retailer an unfair advantage through its help in slashing the company’s tax bill said the European Commission on Friday. The commission, the highest European Union executive body, has alleged that Luxembourg helped Amazon by allowing the online retailer to essentially become two entities. One part is making money, selling products […]

JPMorgan Chases See Profit Unexpectedly Drop

JPMorgan Chase announced on Wednesday that its profit had dropped unexpected during a fourth quarter that was described as sluggish. The financial institute posted earnings that were down 7% to $4.9 billion equal to $1.19 per share compared to the same period one year ago when earnings were $5.6 billion equal to $1.30 per share. […]

Gasoline Cheapest in Six Years Starting 2015

Drivers paid on average of $2.20 per gallon for regular gas at pumps in the U.S. last week. That was the lowest price for this time of the year since 2009, according to a report released on Monday. Prices fell by 26,9 cents over a period of three weeks through January 9 and now are […]

Kaiser Bracing for Strike by Thousands

Up to 2,600 mental health workers at Kaiser, including therapists, social workers and psychologists are expected to strike on Monday. That will start a statewide strike of one week that marks an increase in protests over what the workers charge is continued understaffing that keeps its patients waiting too long for their appointments in the […]

Intel Puts Computer into USB

Stick computers do not impress anyone anymore and are nothing new. Inexpensive mini computers from brands that are not popular have run the mobile operating system for Google on inexpensive however highly effective and efficient processors from AllWinner or RockChip for some time. However, Intel is planning to step things up with its Compute Stick […]

Oil Drama Causes Weakness in Stocks Across Europe and Asia

Stock markets in Europe came under pressure for the third consecutive session Tuesday as a drop in the price of oil showed no signs of letting up, supporting the safe haven assets like government bonds, the Swiss franc and Japanese yen. Shares in Asia slumped overnight following another oil market drama that drove crude from […]

Fast Food Restaurants Resolution is to Change Their Image

Fast Food restaurant chains have proclaimed their New Year’s resolution to be dropping the junk. As the vast majority of people express their distaste for the food they believe to be overly processed, Taco Bell, McDonald’s and other fast food chains are attempting to shed the reputation for serving meals that are reheated and loaded […]

Due to Hacking Issues, Sony Will Extend Holiday Sales for PS

Sony’s big flash and holiday sale at the PS store should be over by now. However, Sony announced that they are going to extend the sales since the PlayStation Network was down for some time, which may have caused a few gamers to miss the deals that were up and running. The holiday sales are […]