Latest News

Facebook Adds Features Similar to Snapchat

Facebook is reported to be in the midst of rolling out new features for the uploading of images that are in some way similar to what it offered by Snapchat to its users. Facebook is doing it once again and that means copying some of the key features from the popular video messaging app Snapchat, […]

United Acquires Stake in Azul Brazilian Airlines

On Friday, United Airlines announced that it purchased a 5% share in the third largest airline in Brazil for a cost of $100 million. The U.S. based airline called it a strategic investment. The Azul Brazilian Airlines stake give United one more South America foothold pacing the way for both carriers to cooperate on flight […]

Norwegian Air to Expand U.S. Flight through Caribbean Service

Norwegian Air Shuttle announced on Thursday new flights between the U.S. and two French Caribbean Islands, hinting that additional routes and more competition was to come with U.S. carriers. Starting in December, the airline will fly from three cities in the U.S. to Martinique and Guadeloupe, which are under the French flag. Bilateral agreement allows […]

3M Bets on Worker Safety in Deal with KKR for $2.5 Billion

KKR & Co the private equity giant is selling Capital Safety a specialist in harnesses, retracting lifeline and lanyards systems that they use as complete protection in mining, oil exploration and building construction, to 3M for more than $2.5 billion including debt. The acquisition said 3M would fill a strategic priority for the conglomerate, which […]

New York State Legislature Set to Legalize Bringing Dogs to Outdoor Restaurants

It’s long been illegal for New York state dog owners to bring their companions to outdoor restaurants. Although, the law is murky, it’s been upheld largely because unruly dogs can be a public nuisance, and some people foods are dangerous for dogs, which could make restaurant owners liable for mishaps in some cases. Despite the […]

AMD Considering Spinoff of Business

AMD has contracted with a consulting firm to help the struggling chip company determine whether or not to split its business or carry out a complete spinoff, according to people close to the situation. After years with losses, decades competing as No. 2 behind Intel and numbers of mistakes in execution or the lack of […]

Sales Growth in CarMax Slowing Down

CarMax the used car specialist has enjoyed solid growth as the economy in the U.S. is gradually recovering which is encouraged Americans to buy used vehicles. CarMax investors have wanted the company to continue its impressive run of strong growth in revenue and earnings. However, the company delivered on one half of that, with its […]

FedEx Results Short of Wall Street Projections

FedEx posted a loss for its fiscal fourth quarter on Wednesday mostly due to changes made in pension accounting. Its performance was short of expectations on Wall Street. The courier company for the three-month period ending May 31 posted a loss of $895 million. That is in comparison to a $780 million profit equal to […]

Owner of Saks Targeting Europe with Kaufhof Acquisition

Hudson’s Bay the Canadian retailer is acquiring Kaufhof the German chain of department stores from Metro in a deal worth $3.2 billion or 2.8 billion euros, as its launching pad to enter Europe. This deal comes as department stores that have suffered from the global fashion chains as well as e-commerce, are beginning to enjoy […]

Bob Evans Shares Up After Release of Planned Real Estate Deal

Shares of Bob Evans Farms Inc were higher than any other time in the past three months following the announcement it was pursuing a deal to squeeze money from its real estate, which was spurred on by pressure from an activist investor. The deal involves the properties where its restaurants are and may be either […]

Apple Music Embraced but Cautiously by Record Industry

Apple Inc about 10 years ago revitalized the world of music that was hit hard by piracy when it debuted its iTunes Stores. Now, amidst a growing slump in downloads digitally, the industry hopes that the Cupertino, California company’s new streaming service is going to give record companies the desperately needed boost they need. On […]

HSBC Cutting 50,000 Jobs

The largest bank in Europe, HSBC Holdings Plc plans to lower its number of full time employees by between 22,000 and 25,000. CEO Stuart Gulliver is seeking to cut annual costs by close to $5 billion so the bank can restore its profit growth. The job cuts will be global and an equal number will […]

Boss at Sony Music Has Confirmed Apple Will Reveal Music Service

In Cannes, during the Midem music industry conference on Saturday, Doug Morris the CEO at Sony Music confirmed what most already knew: Apple would be announcing its music streaming service on Monday at its conference for Worldwide Developers. Morris said it would happen tomorrow. This type of an announcement was expected to be released at […]

New Huawei P8 Lite Hits U.S. Market

The latest entry into the smartphone of the U.S. for Huawei is a unlocked, mid-level and reasonable priced phone on the Android platform. The best way these days to have a device get coverage is lure tech writers to an event and convey to them that the product they have is better than the competition. […]

Brown-Foreman Acquiring Irish Whiskey Company

Brown-Forman Corp on Tuesday announced that it was moving into the world of Irish whiskey through its acquisition of Slane Castle Irish Whiskey Limited. It will also invest over $50 million for the construction of its new distillery in Ireland. The whiskey company based in the U.S. that is behind the well known and very […]

Consumers in U.S. Still Cautious

Consumer spending in the U.S. was little changed during April, the most recent sign that caution remains in many households around the nation. Personal spending, a measure of purchases of everything from haircuts to home appliances decreased by less than 0.1% compared to March, said the Commerce Department early Monday. Spending was up by 0.5% […]

NetFlix is Inadvertently Killing Pirates Off

The most popular service of video streaming, Netflix, has unexpectedly caused major problems for the world of torrents and piracy. Apparently, the accessibility and popularity of Netflix, along with the affordable prices that it has, have impacted the way in which Bittorent is being used. There are now fewer pirates copying movies and television series […]

Lenovo Phone Has Virtual Keyboard

Lenovo the electronics giant based in China unveiled a smartphone with a laser projector built in that can display a virtual keyboard or display. The display is able to replicate the touch screen of the phone, a computer keyboard that is full size or piano keys. The phone’s laser projector is able to beam videos […]

Twitter Eyeing Possible Acquisition of Flipboard

Twitter is in discussions over the possibility of acquiring reading app Flipboard at a price of $1 billion according to those close to the discussion. Anthony Noto the CFO of Twitter has led the talks since the start of the year, although currently there is a sticky point in the discussion. The deal is reportedly […]

Nigerian Airlines Cancelling Flights Due to Fuel Crisis

Nigerian airlines on Saturday grounded flights and radio stations became silent as a fuel shortage that is now months long aggravated by striking drivers of oil tankers worsened in the biggest oil producer in Africa. Vehicles were grounded as well, as normally busy roads across Lagos, a sprawling city of 20 million, were not even […]

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. […]