Latest News

PayPal Launching Payment Service That is Person-to-Person

PayPal.me will be the company’s answer to the new payment services of person-to-person. The pioneer of payments online is looking to making it much easier to send as well as receive money from colleagues and friends in 18 different countries around the world. On Tuesday, PayPal.me was launched which is a payment service that is […]

Apple Watch Closing in on Fitbit in Wearables Market Share Race

In only three months, Apple is within striking distance of Fitbit the wearables market share leader, shipping 3.6 million of its Apple Watches. The Apple wearable is preparing to take the top spot in the market of wearable in the upcoming quarters. No, Apple Watch is not completely dominating the market for wearable as of […]

Dalian Wanda Acquires Owner of Ironman Triathlon

Owned by the richest man in China, the Dalian Wanda Group has announced on Thursday it has acquired the organizer for the Ironman Triathlon races, at a cost of $650 million. The move is a push toward diversification of the property developer that might involve yet another purchase this year of a sports related business. […]

Best Buy Surprises with Sales Increase

Best Buy Co, the largest electronics chain in the U.S. posted a quarterly sales increase that was unexpected and said it was expecting that consumer spending would remain strong during the current quarter, which helped send the stock higher by almost 15%. The company, which announced it had benefitted from stronger demand for appliances, mobile […]

Toyota Buying 13 Million Inflators for Air Bags

Toyota Motor Corp in an attempt to lower risk from possible lethal air bag inflators from Takata Corp is buying millions from Nippon Kayaku Co a smaller maker of parts, said people close to the situation. The carmaker from Japan asked the supplier in July to increase its production in order for it to supply […]

John Deere Lowers Forecast for Profit on Decline in Commodities

Deere and Co the largest maker of farm equipment in the world lowered its profit forecast for fiscal 2015 as lower prices of crops weakened the farm economy and less construction machinery was purchased by the energy industry. For fiscal 2015, net income through the end of October will reach $1.8 billion said the company […]

Airbnb Expanding Into China Thanks to Local Help

For large companies on the Internet based in the U.S., the prevailing wisdom for quite some time is that China has been off limits. Concerns of Beijing about not having the ability to control foreign site along with regulation that required the foreign companies to monitor and censor users, had led to a number of […]

Airbus Signs Record Order of 250 New A320neo Jets

Airbus has finalized a huge order from IndiGo a budget carrier based in India for 250 of its A320neo jets, said the jetmaker based in Europe on Monday. Airbus and IndiGo agreed to an order to start for jets in 2014, but their deal was firmed up this week. The deal is huge for Airbus, […]

Tyson Cutting More Jobs Due to Cattle Supply

Tyson Foods has announced it would permanently shutter a beef processing plant in Iowa, the latest attempt by a major U.S. meatpacker to streamline its operations due to a shrinkage in cattle herds in the U.S. The plant closure will eliminate 400 jobs, said Tyson on Friday. A number of years of drought conditions in […]

HTC Cutting 15% of Work Forces Amidst Struggling Sales

HTC the smartphone maker is struggling with its sales and announced it would be cutting 15% of its overall workforce to stave of looses and to revive its ailing business. The company, based in Taiwan, announced the layoffs Thursday after its earnings for the second quarter plunged to a loss of NT$8 billion or US$257 […]

Shake Shack Stock Soaring After Crushing Estimates

On Monday, Shake Shack posted earnings for its second quarter that soared past Wall Street expectations and has caused the stock to explode higher. The company’s adjusted per share earnings were 9 cents, while its revenue reached $48.5 million, with both beating estimates. Sales at same stores were up 12.8% during the quarter, which were […]

Media Industry Wants to Forget Last Week

Shares of the largest media companies in the U.S., such as Viacom, Walt Disney, Time Warner, CBS and Comcast all were hit hard this past week. That was due to investors becoming more and more worried about the crisis to the typical business models posed by the rising number of cord-cutters, or customers quitting the […]

Cablevision Continues Losing Subscribers

Cablevision Systems Corp announced it lost more of its video subscribers during its second quarter as customers of cable TV continued to shift to bundled services that are lower-priced from carriers of Internet and streaming service providers. The company has been losing its video subscribers for close to three years as it is struggling to […]

Disney Stock Plunges after Warning on Cable Business

On Tuesday, Disney posted its earnings for the quarter that topped expectations on Wall Street, but revenue was below projections as growth slowed at the international theme park. Disney stock tanked more than 8% on Wednesday morning a day after Disney executives pulled back expectations for its television subscribers as more consumers continue to move […]

Sears Sales Plunge Again During Second Quarter

Sears Holdings Corp, the large retailer that is run by Edward Lampert the hedge fund manager, said that sales at same stores dropped by 10.6% during the second quarter, its second straight period of declines in double digits. The drop off during the three-month period ending July 25 included a drop of 13.9% at Sears […]

Puerto Rico Set to Default on Bond Payment

Puerto Rico is set to miss its payment on August 1 for debt due, said the chief of staff of the governor on Friday. That means Puerto Rico will be in default in the eyes of investors as the U.S. commonwealth continues towards what could be one of the biggest municipal debt restructurings in U.S. […]

Time Warner Cable Short of Expectation with Revenue, Earnings

Time Warner Cable missed expectations on Wall Street on revenue and earnings for the second quarter, as costs of programming continued to increase and customers started to migrate from the traditional service of pay-TV. The company, which is awaiting the approval for Charter Communications to buy them out, reported earnings per share of $1.54, falling […]

Pfizer Tops Wall Street Forecasts, Increases Its Forecast

Earnings during the second quarter at U.S. based pharmaceutical giant Pfizer, which absorbed hits in revenue from a strong dollar and a loss of protection from patents for key products, topped Wall Street expectations and the company increased its full year forecast. Shares of the company, based in New York, climbed on Tuesday during early […]

Campbell Soup Cutting Artificial Colors and Flavors

Campbell Soup Co will make every one of its products in North America without any artificial colors or flavors by the ended of the 2018 fiscal year, joining a large number of companies that specialize in packaged foods that are moving toward ingredients that are all-natural. Campbell, whose products include its popular tomato soup, is […]

Fiat Chrysler Submits IPO for Ferrari

Fiat Chrysler announced Thursday that it made a filing with the proper regulatory agency to spin off Ferrari, the luxury sport carmaker based in Italy, through an initial public offering in the U.S. The carmaker said it sought to list its shares on the New York Stock Exchange as Ferrari N.V. Fiat Chrysler announced that […]

Traveler’s Profit Driven by Less Catastrophe Losses

Casualty and property insurer Travelers Cos Inc posted a quarter profit that was stronger than had been expected as catastrophe losses nearly halved and the business recorded a gain from tax issues that were resolved. The company, with Jay Fishman a veteran in the industry at the helm, has aggressively increased prices of insurance over […]

McDonald’s Franchisees Having a Tough Time

It is not a happy time to be a franchisee of McDonald’s. Owners of restaurants with the Golden Arches across the globe are fighting shrinking sales, dropping customer traffic and tough competition from rivals who have become more exciting serving up menus that are more appetizing. It is not so bad that franchisees of McDonalds […]

Google Stock Soars as Growth in YouTube Cuts Fears On Facebook

Google Inc saw its shares surge on Friday morning by over 14% adding close to $50 billion to its overall market value, as YouTube experienced strong growth in revenue from mobile ads which allayed the worries its might be hurt from the push into video by Facebook. The surge in the price of stock came […]

Honda Paying $24 Million for Charging Minorities Higher Interest

On Tuesday, Honda was able to reach an agreement to resolve the allegations that its financial arm in the U.S. had discriminated against car buyers who were minorities by increasing the interest rates it charged on loans, a practice experts in the industry described as common due to the discretion individual dealerships are given. Honda […]

Blackberry Hires Executive from Cisco to Lead Its Global Sales

On Monday, Blackberry Ltd the Canada based smartphone maker announced that it hired Carl Wiese a sales veteran at Cisco Systems to help it drive global sales. The company, which has bet on phones and software for device management aimed at niche business as well as government customers to boost its growth, named Wiese as […]

Amidst Business Deal, Blackberry/Android Rumors Resurface

Rumors were swirling this past week about the possible Blackberry smartphone powered by Android, and with the new business deal between Google and Blackberry, phone enthusiast are chattering once again about a possible hook-up. The phone maker based in Canada announced this week a new partnership with Google that will set new standards in business […]

Coty to Acquire 43 of Proctor & Gamble Beauty Brands

Coty is acquiring 43 of the Proctor & Gamble beauty brands including Max Factor, Covergirl and Miss Clairol. P&G said on Thursday that it put the value of the deal at close to $15 billion. That includes its stock value of $13.1 billion and its debt of approximately $1.9 billion. However, the debt could range […]

Samsung Misses on Profit As Galaxy S6 Struggles

Samsung Electronics profit during its second quarter failed to reach estimates of analysts as its new flagship smartphone Galaxy S6 line failed to entice enough people away from the Apple iPhones and less expensive devices that are made in China. Operating income was down 4% to just over 6.9 trillion won or $6.1 billion during […]

Kraft Heinz Starts Trading July 6 on NASDAQ

The newly formed Kraft Heinz Company, which is the fifth largest U.S. food and beverage company, will start trading Monday July 6 on NASDAQ. Products such as Macaroni & Cheese, Heinz Ketchup, Claussen Pickles, Countrytime Lemonade, Velveeta Cheese and more will all fall under the same umbrella starting July 6 on Wall Street. Warren Buffett […]

UberPOP Stops Service Across France Due to Protests and Clampdown

Uber technologies is suspending the UberPOP ride hailing service for France, the company, based in the U.S. said Friday, after it had faced protests that were at times violent and local authorities denounced the business as illegal taxi services. Following last week’s fierce protests by licensed taxi drivers in France who argue the app threatens […]

Massive Internet Outages Due to Cables Being Cut

The Federal Bureau of Investigation (FBI) has started investigating a number of attacks on the fiber optic cables in the area of San Francisco, including on that disrupted Internet service severely at a number of residential buildings and businesses on Tuesday. Eleven or more attacks on the cables occurred in an area of 10 cities […]

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 […]