Business

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’s 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 […]

CEO Marchionne Fuels Merger Talks Between Fiat Chrysler and GM

CEO of Fiat Chrysler Automobiles Sergio Marchionne is maintaining his campaign of merging with General Motors. Marchionne publicly has pushed for the consolidation, citing the rising cost of production amongst a number of other reasons, since he oversaw the Fiat and Chrysler merger. He has been eyeing the possible combination of GM and FCA even […]

Consumer Sentiment Declines in U.S. to Low of Three Months

Consumer confidence fell during August to a low of three months as the recent turbulence in the stock market weighed on the outlook of Americans for the economy in the upcoming year. The University of Michigan consumer sentiment index for August fell from July’s 93.1 to 91.9. The projection by analysts averaged 93, which was […]

McDonald’s Says No to McWhopper Offer by Burger King

McDonald’s declined a proposal by Burger King to partner in a McWhopper for world peace. The new burger would have combined the elements of the two chains’ famous Whopper and Big Mac burgers to create the McWhopper a new double-decker burger. These burgers would have been only sold for one day in a franchise that […]

Gas Prices Have Dropped over the Past Few Weeks

Filling up a passenger vehicle in the United States is the cheapest it has been in more than a decade, yet its remains too expensive. The average price of a retail gallon of gas in the U.S. dipped on Sunday to $2.95, which was down 7.4 cents from the week before and was the lowest […]

Smart Shirt by Ralph Lauren Laden with Sensors

The sensor-laden shirts by Ralph Lauren are finally being manufactured in masses providing the masses will pay $295 for the workout shirt. At an event held this week in New York City, the brand revealed the pricing as well as availability for the PoloTech line of apparel made in collaboration with OmSignal a tech startup […]

Jobless Claims Rise, But Analysts See Strong Labor Market

Jobless claims have increased for four straight weeks but are still at historical lows. The number of people in the U.S. seeking unemployment benefits for the first time rose just slightly this past week but remained as historical lows, which suggest there continues to be a strong labor market. Initial claims for unemployment, a proxy […]

Walmart Lowers Outlook As Profit Comes Up Short

Walmart the world’s largest retailer cuts its forecast for annual profit as it was hurt from a strong U.S. dollar as well as lower margins across the U.S. The company also was hit on more spending for e-commerce and on wages. The Arkansas based retailer reported that earnings for its second quarter were $1.08 per […]

Shares of J.C. Penney Increase on Upbeat Earnings

J.C. Penney shares were up on Friday as the department store retailer continued its effort to turnaround its fortunes by reporting results for the quarter that topped estimates on Wall Street and boosting its guidance for the year. Penney’s stock increased by 8.55% shortly after the markets opened in the U.S. based in the reported […]

GE Selling Healthcare Financial Services to Capital One

General Electric Co reached an agreement with Capital One Financial Corp to sell its healthcare lending business in the U.S. and a large package of loans for $9 billion as part of an effort to streamline its operations. The U.S. based conglomerate said back in April that it would sell the majority of GE Capital, […]

Nokia Prepares Its Mobile Comeback

Nokia is hiring experts in software, testing new products and looking for sales partners as it is setting up its return to the mobile device and consumer tech segment that it abandoned when it sold its mobile handset business. At one time, the largest maker of mobile handsets, the company, based in Finland, was caught […]

Foxconn Planning Investment of $5 Billion into Maharashtra Plant

Foxconn, based in Taiwan, is the largest contract electronics maker in the world and a key supplier for Apple Inc. On Saturday, the company signed a new pact with Maharashtra for an investment of $5 billion over a period of five years for a new manufacturing facility for electronics. The announcement was released by Terry […]

Super Bowl Ads Reach New Record High of $5 Million

The controversial almost hilarious Deflatgate has not let any air out of the sales of the Super Bowl advertising prices, which have reached yet another record high. Advertising for the Super Bowl was already more lucrative than ever before and this season’s game will be no different as it was announced by CBS that 30-second […]

Shire Attempts Hostile Takeover of Baxalta for $30 Billion

Shire launched a $30 billion hostile takeover of all stock for Baxalta, a drug maker based in the U.S. that was spun off recently from Baxter, after its first proposal to the board at the company was rebuffed. Shire, based in Dublin and listed in the UK, said the combination with Baxalta would create a […]

USPS Increasing its On-Demand Delivery Services

When one thinks about deliveries from e-commerce purchases, the focus always seems to turn to FedEx or UPS. However, the United States Postal Service is now delivering close to 40% of the nationwide orders at Amazon, which is more than both FedEx and UPS. The USPS’s infrastructure is set up already to handle same-day deliveries […]

Exxon Mobil Profit Lowest in Six Years on Oil Price Drop

Exxon Mobil Corp posted the worst quarterly performance by the company in six years as the worldwide glut in oil collapsed the prices quicker than explorers were able to cut costs. Net income was down to over $4.19 billion equal to $1 per share from last year’s $8.78 billion equal to $2.05 per share during […]

Twitter Falls on Worries Over User Growth

Twitter Inc shares were down steeply on Wednesday as much as 13.3% during the first few minutes of trading due to investors digesting the micro-blogging company’s earnings for the second quarter and its weak growth in users. That is a big reversal from the reaction of Tuesday immediately following the report on earnings, when shares […]

CurrentC a Rival to Apple Pay Rolling Out in August

Electronic payment system CurrentC backed by a number of the largest U.S. retailers, will start a limited rollout to the public in August, and says a national business news agency. The technology which is smartphone based is intended to rival that of the payment systems offered by Google, Samsung and Apple and a launch in […]

Charges for Restructuring Eliminate Nearly All Profit at Xerox

Xerox Corp hardly managed to end the second quarter with any profit after the copier and printer maker took a huge charge related to a revamping of its business, which provides care-management and administrative services to government programs in healthcare. Xerox, whose stock was down in trading before the bell by 0.7%, announced last week […]

All-Day Breakfast to Appear on Menu at McDonald’s

After completing successful tests in selected restaurants in San Diego, McDonald’s will be soon serving its McMuffins, Hash Browns and other breakfast menu items all day. The behemoth of fast food companies is said to be going forward with its plan or McMuffins around the clock along with all the other breakfast menu items. The […]

A&P the Grocery Store Chain Files For Bankruptcy

Great Atlantic & Pacific Tea Co the chain of supermarkets known more popularly as A&P has filed for Chapter 11 bankruptcy for a second time in the past five years. It said it was currently holding discussions with buyers for some stores. The company, which is 156 years old, hired Evercore Partners a specialist in […]

Google Comments Lift Etsy

On Thursday, during an earnings call, Omid Kordestani the Chief Business Officer for Google said just a single flattering thing about e-commerce company Etsy, which caused its stock to soar by over 38% in trading on Friday. While that is very good over the short term, adding over $700 million to market value during the […]

Revenue at Domino’s Misses Analysts Estimates

Domino’s Pizza Inc posted revenue for the quarter that missed estimates by analysts for just the first time in the past two years due to the strong dollar and added that CFO Michael Lawton would retire on August 31. Shares of the pizza company were down by 3% in midday trading Thursday on the NYSE. […]

JPMorgan Beats Estimates on Profit as Expenses Fall

Kicking off the earnings season for banks in the U.S. for the second quarter, JPMorgan Chase & Co reported an increase in profit that was better than had been expected on Tuesday, boosted by a drop in its restructuring and legal expenses and a tax bill that was smaller. Like other financial institutes, the biggest […]

PC Shipments Drop Almost 12%, Apple Surges

PCs are being purchased by fewer and fewer people, unless they have the Apple logo on them, shows the lasted data from the industry. Global shipments of PCs plunged to 66.1 million units, which was worse than had been expected during the second quarter of 2015. That marked a decline of 11.8% compare to last […]

United Airlines Flights Resume after Being Grounded Two Hours

United Airlines has resumed flights after a glitch in its computers halted all of its departures in the U.S. for close to two hours. The glitch disrupted travel for thousand of United passengers in its second similar setback in less than two months. The Federal Aviation Administration in the U.S. disclosed the end of the […]

Amazon Ready to Launch Prime Day

Amazon.com Inc is planning to leave behind Black Friday in its wake. On Monday, the company announced that Black Friday would have to step aside because Prime Day was here. The e-commerce behemoth revealed that July 15 would be the launch day for huge sales it called bigger than any Black Friday, the day following […]

JetBlue Flying to Cuba with Regularly Scheduled Flights

The United States has resumed diplomatic relations once again with Cuba for just the first time in over 50 years. That has caused airlines to seize a huge opportunity to carry Americans to the Caribbean island nation that for the majority remains a mystery. The White House eased travel restrictions to Cuba, which allows American […]

CEOs at Whole Foods Apologize For Overcharging

Executives of Whole Foods are admitting that the chain has overcharged New York City customers, but promised that if it were to happen against they will give the food away for free to customers. Walter Robb and John Mackey, Whole Foods co-CEOs, apologized to their customers through a video that was filmed in the fruit […]

Aetna Closing in on Acquisition of Humana

Aetna Inc the health insurer based in the U.S. is near to acquiring its rival Humana Inc. A deal might be signed as soon as this weekend, reported a national news agency, citing people close to the situation. Humana also received another offer from the Cigna Corporation but the board at Humana preferred the offer […]

Consumer Sentiment Up to High of Five Months

Consumers adopted a brighter attitude toward the U.S. economy during June, according to a survey released on Friday that followed an upward trend during this week of economic reports. The consumer sentiment index was up 6% during June from last month reaching 96.1, said officials at the University of Michigan. These results have not put […]