Archive for September, 2015

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 […]

Finish Line Profit Declines, Misses Forecasts for Revenue

Finish Line announced that its profit had slipped during its most recent quarter as overhead expenses that were higher offset a slight increase in its revenue. Sales at its stores opened for a minimum of one year were higher by 1.5% during its second quarter. The metric cooled after it jumped by 5.5% during the […]

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 […]

Volkswagen Must Recall a Half Million Vehicles

On Friday, the White House administration directed German carmaker Volkswagen to recall close to 500,000 cars saying the automaker used software that had been designed intentionally to circumvent the environmental standards for lowering smog. The notice of violation was issued by the Environmental Protection Agency and accused VW of breaking the law through installing software […]

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 […]

New Unemployment Applications Drop 6,000

Fewer Americans applied last week for unemployment benefits keeping this indicator that is an important metric for the health of the labor market near all time lows. On Thursday, the Labor Department said that applications for last week for benefits from unemployment dropped by 6,000 to an adjusted seasonally rate of 275,000. The average of […]

Concordia Healthcare Buying Amdipharm Mercury

Canada‚Äôs Concordia Healthcare Corp said Tuesday that it agreed to purchase Amdipharm Mercury a drug maker from Cinven a private equity company based in Europe in a deal valuing the company at nearly $3.5 billion, which includes debt. The deal will expand the geographic footprint of Concordia to over 100 countries and will give it […]

Critic Attacking Chipotle With a Negative Ad Campaign

An advocate for consumer rights published an advertisement of a full page in the New York Post as a means of a visual attack against Chipotle the Mexican food fast casual food chain, igniting a social media firestorm. The CCF or Center of Consumer Freedom produced the full page ad that depicts an overweight man […]

Travel Jacket Maker Had $20,000 Goal But Received $9 Million

With a goal of making the air travel experience much more hassle-free and smoother, BauBax LLC in July launched a campaign for crowdfunding on the Kickstarter site that it needed $20,000 to help its special travel jacket come to life. The jacket boasts to have 15 features. While it did not receive its target of […]

Worker Productivity Revised Up for Second Quarter

U.S. Productivity during the spring rose at its fastest rate since the latter part of 2013 while the cost of labor declined. Worker productivity was up at an annualized rate of 3.3% during the quarter April through June, reported the Labor Department on Wednesday. The rate rebounded from the first three months of 2015 when […]