Latest News

Chairman at Tesco Leaving as Profit Hit By Accounting Errors

Richard Broadbent the Chairman at Tesco Plc will leave the biggest supermarket business in the UK after the accounting irregularities were said to have started prior to this year and would impact on the profit during the second six months. Profit had been overstated in the amount of £263 million or $422 million. Part of […]

Chipotle Tops Estimates, Predicts Slowdown in Growth

Chipotle Mexican Grill, the best S&P 500 restaurant index performer this year, said its sales growth might slow down in 2015, which raised concerns the business would not maintain its hot streak of the past few years. Sales at its restaurants opened a minimum of 13 months have been forecasted to increase by a low- […]

Blood Sample Picked Up by Coast Guard

A Dallas health care employees’ blood sample was picked up by the U.S. Coast Guard on Sunday. The worker is aboard a cruise ship that had been docked in Belize, but was returning to port in the U.S. The health care worker is being monitored aboard the ship for any signs of Ebola. The Coast […]

Rolls Royce: Profit Will Not Increase in 2015

Rolls-Royce the British engineer warned Friday that the economic conditions mean profits would not go up next year as was previously forecast. The new outlook, which was released three days ahead of time, knocked off over 8% of the value of company shares sending them to a low of nearly two years. John Rishton the […]

Converse Sues Chuck Taylor Lookalikes

Converse has sued a number of big name companies including Kmart, Walmart and Skechers as it attempts to protect its widely popular century-old brand of sneakers known as “Chuck Taylor.” In all, Converse on Tuesday October 7 filed 22 lawsuits in a Brooklyn, New York U.S. District Court against a total of 31 companies for […]

Growth in Vehicle Sales at Low of 19 Months

Vehicle sales in China grew at their slowest pace in the past 19 months during September as the bus and truck demand slumped in a weaker economy. Totals sales for vehicles, which includes commercial and passenger vehicles, was up 2.5% from the same time in 2013 ending the month at 1.98 million, said the China […]

Sears Announces Data Breach in Kmart

Sears Holding Corp said its Kmart stores were breached by a cyberattack that likely caused the theft of some payment card information of its customers. This is the latest computer security data breach to hit companies in the U.S. The Secret Service confirmed it is investigating the data breach, which took place in September and […]

SolarCity Offering Loans for Solar Power Systems

Most deals on solar rooftop systems require a lease by homeowners for solar panels or to agree to purchasing power for a stipulated period of time. Ownership of solar panels however, has remained with the company. The solar loan by SolarCity will change that as it allows homeowners to receive ownership of the solar panels […]

World Bank Drops Forecast for Growth in East Asia

The World Bank has lowered its forecast for economic growth in the East Asia Pacific developing countries citing China’s economic sluggishness, falling prices in commodities and tepid spending by governments. The region is expected to grow this year by 6.9% as well as next year, which is down from a growth of 7.2% during 2013. […]

Ebola Outbreak Disrupting Exxon Oil Drilling

The outbreak of Ebola across West Africa has threatened ExxonMobil’s activities within the region, including its plans to drill there for oil. Rex Tillerson the CEO at Exxon said while at an industry conference the company had second thoughts about its plans to start drilling offshore in some section of West Africa because of ongoing […]

Deal Involving Tax Inversion Collapses

A planned deal for $2.7 billion between two pharmaceutical companies Cosmo and Salix, which was motivated in part due to a tax inversion, has collapsed. Alessandro Della Cha, the CEO at Cosmo said the environment had changed since the deal was struck. The administration took steps making inversion difficult to complete and made it harder […]

Herbalife: Two Charged by SEC in Insider Trading

The U.S. Securities and Exchange Commission said on Tuesday that it had filed charges of insider trading against two men. The charge stems from the two learning the Pershing Square Capital a hedge fund run by William Ackman reached a negative view of the Herbalife the company specializing in nutritional supplements and planned a short […]

Balfour Warns on Profit Due to Construction Losses

Balfour Beatty the British firm cut its outlook on profit for a third time in the past five months. This time the company suffered write-downs and contract losses in its construction arm in the UK, which delivered just the latest blow to the much beleaguered company. Balfour, which last month rejected a number of advances […]

Smugglers in China Earning Big Money with iPhone 6

Two days following the start of sales of the iPhone 6 customs officers in Hong Kong saw people loading boxes onto a speedboat. When customs officers approached the boat, the occupants hurriedly sped off and left behind 15 boxes. In each of the boxes were new iPhones. The report of the speedboat is said to […]

Ex-CEO Indicted for Insider Trading Involving Ex-MLB Player

Former CEO at Advanced Medical Optics James Mazzo has been charged with tipping off former third baseman with the Baltimore Orioles Doug DeCinces that his business was going to be acquired in 2009 by Abbott Laboratories. Mazzo who is 57 listened to a 13-count indictment against him for insider trading after he allegedly provided information […]

Philips Splitting Company into Two

Dutch electronics behemoth Philips said Tuesday that it was planning to split the company into two: one focusing on technology and healthcare while the other on lighting. This announcement is just the most recent step by Philips in its effort to reshape the company. The Dutch giant announced its plans this past June to spin […]

Alibaba Hands Out One Day Windfall

Two hours prior to the Alibaba Group Holding starting its debut trading on Wall Street, Jack Ma stressed how important it was to keep investors pleased by helping them to make money. In just one day, his mission was accomplished. Shares of the e-commerce company based in China soared by 47% within 10 minutes of […]

SAP to Acquire Concur

SAP the maker of business software based in Germany said it has agreed on Thursday to acquire Concur Technologies the maker of expense management software that is based in the U.S. The deal will be all stock and valued the software maker at $7.3 billion and expands SAP’s presence in software that is internet-based or […]

UPS Will Use Social Media for Holiday Workers

Last year close to 25,000 of UPS’ more than 85,000 seasonal employees were via social media, said the workforce planning vice president Lytana Kids. She believes that the same strategy will pay off once again during the upcoming holiday season, as UPS seeks to take on even more seasonal sorters, loaders and drivers. Social media […]

More Workers Failing Drug Tests

The amount of drug tests returning positive by employees in the U.S. is increasing. Fueled by more use by employees of marijuana as well as amphetamines, failed drugs tests are on the rise for the first time in over a decade, according to new research released by an information services company. Analysis of more than […]