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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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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,... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »