Latest News

Comcast Sees Profit Jump Close to 15%

Comcast Corp has reported earnings for the second quarter that were solid, with its revenue up a modest 3.5% to over $16.8 billion and profit jumping up by 14.8%. The company’s television subscribers shrank by 144,000, an improvement from the same period one year ago when the company lost 162,000 subscribers. Comcast also added over […]

Severstal to Sell Plants in U.S.

Severstal the steel company based in Russia is leaving the U.S. market by selling two steel plants to Steel Dynamics and AK Steel for nearly $2.33 billion. Word of the possible sale started to circulate in early 2014, as the West started to threaten Russia with sanctions for what it had done in Ukraine. However, […]

Roca New High-End Tequila Launched by Patron

Patron is one of the most iconic tequilas on the market, an ultra-premium brand that has for the most part redefined the drink as something more than a quick shot with lime and salt. However, in the more than 25 years since the brand first appeared on the scene, most of tequila has turned upscale […]

Microsoft Cutting 18,000 Jobs

Satya Nadella the CEO at Microsoft was not kidding when he said he would make some bold changes. The software behemoth announced on Thursday that it would be cutting 18,000 jobs over the next year, which is close to 14% of the overall workforce of 125,000 at the company. That represents by a large margin, […]

Reynolds American Acquires Lorillard in $27 Billion Deal

As the cigarette market in the U.S. continues to shrink, the second biggest tobacco company in the country, Reynolds American announced on Tuesday it will acquire the third biggest Lorillard for nearly $27 billion. The acquisition will create a rival for the leader in the market, the Marlboros Altria Group. Reynolds is the maker of […]

Hamptons Workers Struggle in Playground of the Rich

In Southampton, New York, the many people are filthy rich and real estate is so expensive that a handyman’s special home could set you back $2 million. The thrift shop in town has donations of designer handbags and dresses. However, Southampton with its pristine beaches, privet hedges and estates that cost in the tens of […]

China Calls iPhone National Security Threat

State media in China has called the Apple iPhone a national security threat due to the fact the smartphone is able to record the location of a user. CCTV run by the state said that the Frequent Locations function the smartphone has could be used potentially to leak information on where a person was located […]

Venezuela Creating Nightmares for Big Companies

Venezuela has become a huge problem for many businesses, one of which is the airline industry. The currency problems in Venezuela are making it more difficult for international businesses to earn a profit in the South American country. The latest company sounding an alarm was Air France KLM. The airline has predicted weaker earnings in […]

Oil Falls Below $104, Exports to Increase in Libya

The price of crude dropped below the $104 per barrel price on Monday as Libya is expected to increase its exports to offset the strong job growth in the U.S. By the early afternoon in the European financial markets, crude in the U.S. for delivery in August was lower by 19 cents to an electronic […]

Job Gains Point to Strong Economic Recovery

Solid job gains in the U.S. are pointing to a stronger economic recovery. The economy in the U.S. has been recovering for 5 years and has gained some momentum from a strong job market during June, which helped move it closer to full steam ahead. Employers in the U.S. added over 288,000 new jobs during […]