Archive for February, 2015

Microsoft Shuttering Factories in China

Microsoft will close more Nokia factories located in China. The shutdown is seen as part of the global restructuring of Microsoft is carrying out of Nokia after its purchase of the company last year. Microsoft will shutter its Nokia factories in China as well as lay off close to 9,000 workers local media in China […]

Target Reports Loss during Fourth Quarter

Target shoppers came through with strong sales for the discount retailer during the fourth quarter. However, earnings at the company dropped as it is preparing to end its business across Canada. Target posted a loss of $2.6 billion during the quarter ending January 31, equal to $4.10 per share from the impact of shuttering its […]

Many Greeks Not Happy With New Government

The equity markets in Europe might be happy about a deal that extended the aid for Greece by another four months, but many of the ordinary Greeks feel their new government backtracked from the promises it made to eliminate the bailout. The left-wing Greek government led by Alexis Tsipras the Prime Minister, was given a […]

Two Sides of Dispute at Ports on West Coast Reach Agreement

Negotiators have reached a tentative agreement for a new contract covering the dockworkers on the West Coast, which will likely end a long drawn out labor dispute that has snarled international trade at different seaports that combined handle close to $1 trillion annually of cargo. The agreement was reached following 9 months of negotiations that […]

Lenovo Used Software to Make Laptops Vulnerable

Lenovo Group based in China, the largest PC maker in the world had virus-like software pre-installed on its laptops that made the device vulnerable to computer hacking said experts in cybersecurity on Thursday. Users first reported as long ago as last June that Superfish a program pre-installed by the Lenovo group on laptops for consumers […]

Waste Management Posts Earnings

Waste Management Inc on Tuesday posted its results for the 2014 fourth quarter as well as for the 2014 full year. Revenues for the company’s fourth quarter were $3.44 billion compared to $3.5 billion for the same period in 2013. Net income for the fourth quarter ended at $590 million equal to $1.28 per share, […]

FAA Hands Out Drone Rules

On Sunday, the Federal Aviation Administration released its long anticipated proposal for the governing of small commercial drones, which sets up a plan for the remote-controlled crafts to share the skies with the many passenger planes. The proposal by the FAA would give approval for drones that weigh as much as 55 pounds to fly […]

Groupon Beats Revenue, Misses On Forecast for First Quarter

Groupon reported fiscal year and fourth quarter earnings for 2014 Thursday afternoon that beat expectations for both its revenue as well as earnings per share. The stock of the e-commerce company based in Chicago were down in trading after hours as the 2015 first quarter forecast missed expectations on Wall Street. Fourth quarter income at […]

WellCare Health Posts Downbeat Forecast

WellCare Health Plans posted earnings guidance for the full year on Wednesday that was downbeat, after a severe flu season that was unexpected dragged on its profit leading its earnings to fall 82% in the quarter that ended in December. The company said it expects earnings for the full year to be $3.15 to $3.40 […]

Alibaba Fighting for Smartphone Market Share in China

Alibaba the e-commerce giant based in China invested $590 million for a stake in Meizu a domestic smartphone maker. The unannounced stake gives the e-commerce giant a solid footing in hardware for YunOS its smartphone operating system, which was best known before as a clone to the iOS. However, the company is facing serious competition […]

Futuristic Hotel in Japan Using Robots

In Nagasaki, Japan a hotel has looked to the future and that involves C-3PO turning down the bed. At least, that is the Henn-na Hotel’s goal starting in July. The hotel, with 72 rooms will have a staff that includes 10 robots that are capable of welcoming guests, cleaning rooms and carrying luggage. The technology […]

Pfizer Acquiring Hospira to Boost Generic Drug Business

Pfizer Inc, the U.S. based drug maker announced it was acquiring Hospira Inc for over $15 billion to increase its generic drugs and biosimilars, which are copies of biotech drugs. Pfizer has offered cash in the amount of $90 a share or a 39% premium to the closing stock price of Hospira on Wednesday. Prior […]

Santander Profit for the Quarter Increases by 68%

Banco Santander SA the largest lender in Spain said its profit increased 68% during the fourth quarter as fewer provisions were set aside for bad loans and the bank’s revenue grew. Net income was up to $1.7 billion or 1.46 billion euros during the quarter from the same quarter a year ago of 864 million […]

Economy in U.S. Slowed in Fourth Quarter

The economy in the United State slowed during the last three months of 2014. However, a burst of spending by consumers and the prospect of a continuation of low energy prices has bolstered confidence that economic growth will be stronger this year. The economy, measured through the gross domestic product, expanded at a rate of […]