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India and China Likely to be Two Largest Shareholders of AIIB

China will most likely have a 25-30% stake in a new Asian Infrastructure Investment Bank or AIIB. India is to be the shareholder with the second largest share, said delegates on Friday after a meeting of three days of the founding nations of the bank. AIIB announced in a prepared statement that it was expecting […]

American Eagle Beats Profit Forecast

American Eagle Outfitters the retailer of teen apparel forecasted profit for the current quarter above analyst estimates as fewer price discounts drove margins and sales of its namesake brand grew after two years. Shares at American Eagle, which reported a quarterly sales and profit that was better than had been expected, rose by 8% in […]

JA Solar Posts Lower Profit as Shipment of Cells Plummet

JA Solar Holdings Co announced on Monday that its profit for the first quarter was more than halved due to cell shipments plummeting and shipments to both the Americas and China declining. Shipments for the first quarter were in line with expectations during a slow seasonal period, said Baofang Jin the CEO. The drop in […]

Google Says Driverless Cars Ready For the Road

Google said its 100% autonomous cars, shaped like pods, are ready to hit the road, but the company still has not applied for permits they would need to ride on the California roadways. Google has tested the Lexus SUVs that have been retrofitted with its hardware and software making them self-driving for quite a long […]

Amazon Bidding to Beat Google and Facebook in Advertising Battle

As the competition ratchets up for revenue from mobile advertising, Amazon is planning to take on both Google and Facebook by enabling its developers to advertise apps on their mobile devices. Developers who are making apps for the Amazon Appstore can sign up to its new advertising platform and view their apps featured on the […]

Carlsberg Maintains Forecasts for 2015

Concerns over the struggling market in Russia pushed down the shares of Carlsberg the Danish brewer on Tuesday although the company maintained its forecasts for profit for all of 2015. Russia is high on the priority list for Cees ‘t Hart the incoming CEO when he takes the place of Jorgen Buhl Rasmussen the retiring […]

Microsoft Not Planning to Acquire Salesforce.com

Microsoft has put an end to the suppositions about the possible acquisition of Salesforce.com. The rumors about the possible acquisition began shortly after the online company publicized they were hiring a financial advisor to evaluate plans for a buyout deal from possible buyers. Several rumors about the top 5 CRM vendors started circulating after the […]

AOL Tops Street Expectations, Cites Advertising

AOL Inc posted a slight drop in its earnings for the first quarter of 2015, though the results were better than had been expected  with a growth in revenue of 7.2% amidst stronger advertising. Shares of AOL were up in midmorning trading on Friday on Wall Street. AOL invested heavily in its advertising technology the […]

Wendy’s Selling Bakery Business and Hundreds of Restaurants

Wendy’s Co announced its plans on Wednesday to sell its bun making business in Ohio this month, while the chain of burger restaurants provided more detail about its plans to sell over 600 of its restaurants that are company owned to its franchisees. The company reported that its profit narrowly beat expectations on Wall Street […]

Hillshire Acquisition Helps Profit at Tyson Foods

Tyson Foods, the largest meat processor in the U.S. posted quarterly profit that was better than had been expected, helped by its acquisition of Hillshire Brands last year. Shares of Tyson, which also confirmed its forecast for earnings for all of 2015, rose by 1.2% on Monday during early morning trading. Sales in the business […]

Auto Sales in U.S. Increase During April

U.S. sales of cars and trucks increased in strength during April in a sign the auto market is still strong after the economic downturn during the winter, reported the top three U.S. automakers on Friday. General Motors sales were up 5.9% from the same period one year ago to more than 269,055 vehicles, while Ford […]

Shell Profit Beats Wall Street

Trading and refining helped to cushion the drop in profit for the first quarter at Royal Dutch Shell, which dropped less than was expected after the collapse of prices of oil slashed earnings from gas and oil output. The largest European oil company by its market value also announced that it was looking for more […]

Ford’s Earnings for First Quarter Drop 7%

Ford Motors earned just over $924 million during the first quarter, which is down close to 7% from the same period one year ago and short of Wall Street projections, due to greater losses than had been anticipated across South America and inventories being tight of its F-150 pickup that is highly profitable, announced the […]

Italian Bank Hit Hard by Hoax

Every company has its nightmares, but one that everyone hopes not to go through is have the stock start to tank on Friday afternoon without any explanation. One of the largest banks of Italy went through this just recently. A hoax said that the bank’s CEO was stepping down after admitting to claiming billions in […]

American Airlines Sets Record Profit in First Quarter

The cost of fuel at American Airlines dropped by close to 50% during the first quarter, which helped the airline set a new record for profit despite revenue dipping. The combination of steady demand in the U.S. for flights and cheaper fuel is helping all major domestic airlines. American has joined United, Southwest and Delta […]

Tesco Ends Tumultuous Year Posting Large Loss

Tesco PLC posted the steepest ever loss for a full year by a British retailer amidst a number of charges, ending the grocer’s most tumultuous year in its 96-year history. For the full year to February 28, Tesco’s loss before taxes was £6.38 billion or $9.52 billion versus a year ago when it turned a […]

Morgan Stanley Beats the Street

Morgan Stanley on Monday posted a profit that beat Wall Street estimates and its highest adjusted revenue in over five years as brokerage and equity trading revenue was up. Net income for the first quarter was up by 59% to end the three-month period at $2.39 billion equal to $11.8 per share compared to $1.51 […]

Rolls-Royce Receives Order of $9 Billion from Emirates

Britain’s Rolls-Royce won a deal for $9.2 billion to supply engines to be installed in 50 aircraft for Emirates airline in Dubai, the largest single order in company history, which gives it a boost following a difficult year with many profit warnings. The British company announced on Friday that it was the biggest order placed […]

McDonald’s in Japan Shuttering Locations

McDonald’s in Japan has enacted a stringent performance based wage for its workers and forecasted widening losses for its second largest market. The chain of fast food restaurants announced on Thursday that it would close 131 stores that are underperforming in Japan and cut up to 100 jobs, amidst problems caused by a series of […]

Nokia in Negotiations to Purchase Alcatel-Lucent

Nokia Corp the telecommunications equipment maker based in Finland is having advance talks to acquire Alcatel-Lucent SA a French rival, the two companies announced on Tuesday. The deal would make a new behemoth in the global networking arena to rival Ericsson in Sweden and Huawei Technologies in China. The current deal under consideration would entail […]

China Using New Weapon That Censors the Internet

China in March began flooding websites based in the U.S. with a large amount of new traffic in what is apparently an effort to take out services allowing users of the Internet in China to view sites that are otherwise blocked. Initial reports from security experts suggested that China crippled the services through exploiting its […]

Boeing Sells Aircraft to Copa

Boeing Co has finalized an order to sell Copa Airlines from Panama a record 61 single-aisle 737 jetliners in a deal worth $6.6 billion, which is the largest commercial transaction ever between companies from the U.S. and Panama as U.S. President Barack Obama attended a political summit in the nation in Central America. The Boeing […]

Over 40% of France’s Flights Cancelled Amidst Strike

Close to half of all flights in France were cancelled on Wednesday after the country’s air traffic controllers up and left work on a strike that is scheduled to last 48 hours. Air France announced that it would be attempting to operate the majority of its long-haul flights out of its largest hub at Charles […]

Russia’s Slumping Ruble Squeezing Tourism in Southeast Asia

The sharp decline of the ruble in Russia is exacting its toll on tourism across Southeast Asia as Russians are thinking twice about doubling the budget their next holiday at the beach in Cambodia, Thailand or Vietnam. The ruble dropped by 43% during 2014 versus the U.S. dollar, hurt because of the plunging price of […]

IBM Has Discovered Cyber Scam Involving Sophisticated Bank Transfer

IBM has reported a sophisticated fraud scam that is operated by a well-funded and prominent gang of cyber criminals in Eastern Europe. The scam uses a mixture of phishing, phone calls and malware. According to the company, these cyber criminals have taken in more than $1 million from medium- and large-sized companies based in the […]

Kraft and Mondelez Charged with Price Manipulation

U.S. regulators charged two of the major food companies in the U.S. – Mondelez and Kraft – with the manipulation of prices for both wheat and wheat futures through a scheme that earned them over $5.4 million in profit. On Wednesday, the Commodity Futures Trading Commission announced the charges, which are civil, against both companies […]

States Increase Caps on Microbrewery Production

Over the past two decades, Four Peaks Brewing has grown from a microbrewery and restaurant into a staple in Arizona that served close to 1 million gallons of beer in 2014, including Kilt Lifter Ale one of its most popular. The brewing company has become a huge mainstay as well in the Arizona Legislature corridors. […]

Huawei Technologies Says Profit Surged

Although China telecom behemoth Huawei Technologies said the latest financial results had showed a strong performance across all its business groups, the smartphone business of the company was worthy of more attention. That is because of the growing demand for the phones and particularly the strong growth in the emerging markets that have been credited […]

Coffee Lowers Liver Cancer Risk Suggests Study

According to a group of scientists, drinking coffee daily has been linked to reducing the risk of liver cancer development. This new study has found that men who drink a minimum of one cup of coffee each day are less apt to develop cancer of the liver by over 21% in comparison to men who […]

President of Guinea Declares Emergency of 45 Days over Ebola

Alpha Conde the President of Guinea has declared a health emergency for 45 days across five regions of his nation that have been hit by Ebola in an attempt to stop the spread of the deadly virus. The focus has shifted to the coastal areas of the country, said the president in a prepared statement. […]

Decision by Italian Court Relieves Amanda Knox

On Friday, a high court in Italy overturned the Amanda Knox murder conviction by rejecting her sentence of 28 years in the 2007 killing of Meredith Kercher a British student. The conviction of Raffaele Sollecito the former boyfriend of Knox, who was given a 25-year sentence in 2014, was overturned as well. Officials announced that […]

GameStop Outlines Plans for Acquisitions to Diversify Stores

GameStop Corp is faced with a contracting core business of selling video games and is thus accelerating its efforts of diversifying by adding to stores that offer the AT&T wireless plans and by acquiring other tech retail chains. The company, based in Grapevine, Texas, which won an approval by the court to take over more […]

Tastier Yet Healthier Chocolate on the Way

A group of researchers are at this time working on the development of a new kind of chocolate that is tastier and healthier than what is now available today in the market. The scientists currently are attempting to develop the more nutritious chocolate that has a higher amount of antioxidants. The delicious sweet is known […]

Top Court in Italy Ruling Today on Fate of Amanda Knox

The highest court in Italy is expected to make a ruling Wednesday on whether to uphold the murder conviction of Amanda Knox and her former boyfriend for the killing in 2007 of Meredith Kercher a British student. The case, which inspired films and books, has held the attention of media in Italy and the U.S. […]

Short Naps Could Help With Memory

A recent study found that taking short naps could help with improving one’s memory. After taking a short nap, a person is able to retain material to memory. The study was carried out by Saarland University researchers in Germany that found sleep of approximately 45 to 60 minutes might product an improvement that is five […]

Pirelli Risks Long Fight for Takeover

Pirelli and C. SpA is risking a protracted battle for a takeover as investors in the tire maker based in Italy seek to wait it out for a better per share price than its suitor from China has offered. ChemChina, a company owned by the Chinese government that makes tires as well as fertilizers along […]

Authorities Looking for Machete Wielding Man’s Motive

Authorities were looking for clues to a motive in a bizarre attack against agents from TSA by a man wielding a machete and carrying a can of wasp spray at the international airport in New Orleans. The man, Richard White, who was 62, died at a nearby hospital after undergoing surgery for gunshots according to […]

Finland Could Lose Top Rating of Fitch Amidst Rising Debt

Finland was closer to losing its top grade for credit with Fitch Ratings as in fighting within the government has led to a failure in stopping the public debut growth. The outlook on the long-term AAA classification for the eurozone’s northernmost member was reduced from stable to negative, the company announced on Friday. While they […]

Hangover Free Wine Developed by Scientists

Nothing is worst than dealing with a hangover the morning after enjoying wine. However, according to new research from University of Illinois scientists, the effects the morning after of drinking wine could be reduced, reports a West Coast daily. The report was published online and says that genetically modified yeast would not only lower the […]

Lufthansa Pilot Strike Grounds Flights

Pilots at Lufthansa the German airline announced they would extend a strike until Friday that already has hit thousands of passengers and had hundreds of flights cancelled. The pilots strike is over a new retirement plan the airline has. Just over 50% of the scheduled 1,400 flights for the carrier including domestic and European to […]

Craft Beer Reaches New Milestone

American Craft Beer makers have reached another milestone. The Brewers Association says that craft brewers during 2014 reached a volume share of 11%, marking just the first time the industry has reached a market share of double-digits. The increase to 11% is up from the industry’s 2013 market share of 7.8%, with craft beer likely […]

Brazilian Poor Turning on Rousseff

Amongst the estimated 1 million Brazilians taking to the streets on Sunday in Sao Paulo to call for the impeachment of President Dilma Rousseff over the corruption scandal with Petrobas, are the poor, who the most concern to the president. Many of them voted for Rousseff in last year’s election, however many have already regretted […]

Cuba Has Unrestricted WiFi as Controls Loosened

Young Cubans have started to flock to use the first free open access Internet on the Caribbean Island nation, which was made possible by a famous Cuban artist. A small, modest Havana cultural center has suddenly turned into a source for rare, free WiFi. Kcho, the internationally renowned artist from Cuba is providing that service. […]

Three Die After Consuming Contaminated Ice Cream

Three people have died while two other became ill in Kansas after they ate products that were contaminated with Listeria. The products were manufactured by Blue Bell Creameries, the makers of Blue Bell Ice Cream. This prompted the company, based in Texas, to issue a product recall, its first in 108 years in business. On […]

U.S. Consumer Sentiment Falls to Low of Four Months

In March, consumer confidence dropped to a low of four months as optimism over the economy in the U.S. became tempered by expectations of weaker income and an increase in the price of gasoline. On Friday, the University of Michigan announced that its preliminary consumer sentiment index had dropped from 95.4 for February to 91.2 […]

Retail Sales in U.S. Fall Thanks to Cautious Consumers and Bad Weather

Retail Sales in the U.S. were down for the third straight month during February, which reflects the bad weather in sections of the nation and continual caution being observed by many households in the U.S. despite a labor market that is improving and less expensive gas. Sales at restaurants and retailers dropped by 0.6% during […]

Four of Ten U.S. Households Have Hulu, Amazon or Netflix

A new report says that four out of 10 households in the U.S. that have a traditional TV now subscribe to some type of video streaming service such as Amazon or Netflix. Some of the families subscribe to Amazon, Hulu Plus and Netflix, but the majority are only subscribing to one of the three services: […]

New Zealand Dairy Industry Worried Over Poison Threat

Environmentalist activists have made a threat to contaminate New Zealand infant formula. New Zealand is the largest diary exporter in the world and the threat is an attempt to stop the use of a pesticide that is poison to kill possums and rats, the police said Tuesday. Authorities said a number of letters were sent […]

Simon Property Offers $22.4 Billion for Macerich

The Simon Property Group, which is one of the largest U.S. real estate companies, has started a hostile takeover bid to acquire Macerich a rival in a deal that could be valued at more than $22.4 billion. David Simon the CEO at Simon said he was taking his bid hostile after management at Macerich refused […]

Official: Greece Must Forget False Promises of Syriza

Greece must realize that there is no other alternative to reform, said a governing council member of the European Central Bank Luc Coene. His interview was published Saturday and in it told Greeks that they must not be sold on the false promises of radical leftists who are now in power. The central bank chief […]