Latest News

Xiaomi Threatens Dominance of Samsung

Samsung Electronics reign as No. 1 in the global mobile phone market has seen rising earnings and an expanding share market. However, that has ended. The quarterly profits the company, based in South Korea, posted was its lowest since becoming the largest producer of mobile phones in 2012. That drop in profits was compounded by […]

Purchase of Coventry Boosts Aetna Profit

Aetna Inc the third biggest health insurer in the U.S. reported Tuesday a profit for the second quarter that was higher than expected beating the expectations of Wall Street. The insurer said the acquisition last year of Coventry Healthcare, the Medicaid and Medicare provider helped its profit during the quarter. Revenue increased to end the […]

Peter Swinburn Stepping Down at Molson Coors

Molson Coors CEO Peter Swinburn will retire at the end of 2014 it has been announced by the company. Mark Hunter the current head of the European Operations for the brewer will take his place. This move comes just weeks after Swinburn said he did not rule out the possible acquisition of SABMiller’s 58% stake […]

Starbucks Profit and Revenue Increases

Starbucks Corp revamped food and tea offerings helped to drive the company to a profit of 23% for the quarter. Stronger sales globally and higher volumes of transactions led the way. The chain of coffeehouses based in Seattle reported the 18th straight quarter of gains in sales from same stores of 5% or higher. That […]

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 […]