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BHP Quitting Shale Business in U.S.
BHP Billiton the largest miner in the world posted a surge in its underlying profits for the full year on Tuesday. It also announced that it was exiting its underperforming shale gas and oil business in the U.S., which pleased upset... More of this article »
Alibaba Earnings Beat as Revenue Driver Remains E-Commerce
China’s No. 1 e-commerce company, Alibaba, beat estimates by analysts with an increase of 56% in revenue for the first quarter, driven by strong sales online. Thursday’s results indicate Alibaba Group Holding, one of the most valuable... More of this article »
Cisco Revenue from Security Business Comes Up Short
Cisco Systems quarterly revenue for its security business came up short of estimates by analysts, raising the concern about the largest networking gear maker in the world’s efforts to transition into a company focused on software. Shares... More of this article »
Home Depot Beats the Street, Increases Forecast Again
On Tuesday, Home Depot posted its highest revenue for a quarter in the history of the business, with sales at same stores also beating expectations on Wall Street. While a number of retailers continue to struggle to increase sales,... More of this article »
Aldi Entering the Grocery Delivery Business with Instacart
Aldi Inc. the grocery chain based in Germany announced Sunday that he will partner with Instacart Inc. for delivery of groceries in three cities in the United States, a move that arrives amidst much competition along with disruption... More of this article »
Coal Company Pulls Its IPO Because of Market Conditions
Contura Energy, a U.S. coal company at one time credited U.S. President Donald Trump for giving the coal industry a brighter future. However, now the company has ended its plans to go public because of what it called market conditions. Contura... More of this article »
Amazon Looking at Food Technology for Deliveries
Amazon.com Inc. is looking at new food technology that the U.S. military first developed to produce tasty meals that do not require refrigeration, as the e-commerce behemoth searches for new ways to squeeze into the U.S. $700 billion... More of this article »
Mylan Slashes Forecasts Due to Weak Prices and Delay in Drugs
Mylan NV announced this week that the delays in the launching of its new key drugs and the weakness of prices for its generics across the U.S. will pull down profitability in 2017 and 2018. The maker of generic drugs announced that... More of this article »
McDonald’s Increases Its Estimate for New Locations in China
McDonalds Corp announced that it would nearly double the store count it currently has on China’s mainland by 2022. That is slightly higher than had been expected, as part of the burger chain’s strategic partnership with CITIC Ltd... More of this article »
Profit at SoftBank Tops Expectations Amidst Move into Investing and Deals
SoftBank Group Corp posted earnings that are beginning to reflect the transition it is making that makes deals and invests. The company’s operating profit reached 479.2 billion yen or $4.3 billion, which beat expectations on Wall... More of this article »
U.S. Adds 209,000 New Jobs, Unemployment Drops
Job growth in the U.S. remained steady during July, though workers have continued to see slower increases in wages, showed data released by the U.S. Department of Labor on Friday. The jobs report showed an increase in new jobs of 209,000,... More of this article »
Profit at BP Hit by Write Off, Prepares for Continued Low Oil Prices
BP posted earnings that beat expectations by analysts Tuesday, despite profits being more than halved from the first quarter of 2017 after a big charge from its project located in Angola that proved unsuccessful. Profits at the British... More of this article »
Sprint Looking for Options to T-Mobile Merger
Sprint Corp, the wireless carriers, proposed a merger with Charter Communication as it seeks alternatives to a merger with T-Mobile US that has not come to fruition, says an unnamed source close to the situation. Softbank Group Corp,... More of this article »
Intel Posts Higher Revenue and Profit
Intel Corp. posted an increase in its quarterly profit while raising its forecast for earnings that showed it has for now been successful in fighting off attacks from its rivals across its core businesses. Revenue increased by 9% from... More of this article »
Hyundai Motor Sees Profit Slump
South Korea based Hyundai Motor reported its smallest net profit for a quarter in the last five years, coming up short of expectations and warned that the second six months of 2017 would be difficult as sales will be hit by political... More of this article »
Michael Kors Acquiring Jimmy Choo for $1.2 Billion
Michael Kors now has shoes to complement its handbags. Michael Kors Holding on Tuesday announced that it agreed to purchase Jimmy Choo the shoe maker in a deal worth £896 or approximately $1.2 billion. This is the most recent push... More of this article »
General Motors Might Stop Making Chevy Sonic, Volt and Other Cars
General Motors put six of its vehicles under close review including it Chevrolet Volt hybrid and will evaluate whether to stop making them over the upcoming years, says a report by international news agency Reuters. This news came... More of this article »
Officials in Europe Probe German Car Cartel Claims
On Saturday, officials in Europe that govern antitrust confirmed they are currently investigating claims that Germany’s major carmakers might have operated a cartel dating back as far as the 1990s, colluding on things from engine... More of this article »
T-Mobile New Subscribers Increase by 1.3 Million
T-Mobile added over 1.3 new customers during its second quarter, marking the 17th consecutive quarter with over 1 million net subscriber additions. Over 800,000 of the new subscribers during the most recent quarter were postpaid subscribers,... More of this article »
Reckitt Sells Food Business to McCormick & Co.
McCormick and Co the spices maker based in the U.S. has agreed to acquire the food business of Reckitt Benckiser Group for $4.2 billion, which is higher than was expected and gives it a bigger sauces and seasonings portfolio. Reckitt,... More of this article »
Netflix Posts Strong Quarterly Earnings
Beyond being nominated for 91 Emmy awards, Netflix has something else to be proud of. The video streaming service said on Monday afternoon that it added over 5.2 million new subscribers during its second quarter, which was up 1.7 million... More of this article »
Drama on Capitol Hill Not Affecting Wall Street
Wall Street is not showing any concern about what is taking place in Washington. The stock market continues to rewrite the record books despite ongoing legislative gridlock and political scandals in Washington, D.C. On Friday, the... More of this article »
NPR Workers Threatening to Strike
Workers at National Public Radio could strike, as employees that the SAF-AFTRA union represents remain in a deadlock during their latest negotiations over a contract. Unionized employees at NPR have been working with expired contract... More of this article »
J.C. Penney Adding Toy Shops Inside Stores
Department stores have had their problems of late, but one retailer hopes it has found a new lifeline – toys. On Thursday, J.C. Penney announced that it is planning to open toy shops in all of its physical store locations. The idea... More of this article »
Hackers Steal More Personal Information from Trump Hotels
Guests at 14 properties owned by President Donald Trump, including hotels in New York, Washington and Vancouver had information from their credit cards exposed, which was the third time in the same number of years that a security breach... More of this article »
Chipotle Test Marketing Cheese to Add to Menu
People throughout the U.S. might soon have the chance to order cheese at their local Chipotle. If the trial run that the burrito maker is testing at its public test kitchen located in New York City is a success, the cheese could soon... More of this article »
PepsiCo Profit for the Quarter Beats on Pricing Hikes
PepsiCo Inc. posted a quarterly profit that beat estimates as price hikes for snack foods and sodas across North America boosted the bottom line and the company sold a minority stake in Britvic Plc a bottler in Britain. On Tuesday,... More of this article »
Sears Closing Another 43 Stores
Sears Holding, the Sears and Kmart parent company, announced late this week that it would be shuttering eight namesake Sears stores and another 35 Kmart stores, adding to the already listed 236 stores that it announced it is planning... More of this article »
Jawbone at One Time Worth $3 Billion, Now Shutting Down
Jawbone, the business that made Bluetooth speakers and fitness trackers is shutting down and liquidating its assets said one source familiar with the company’s plans, marking just the latest casualty in the wearable device market... More of this article »
Microsoft Begins Laying Off Thousands
Microsoft will lay off thousands of its employees with the majority of job cuts hitting the sales force at the software maker. The majority of job cuts will hit employees working outside the U.S., although some will hit at its headquarters... More of this article »
Alibaba One of Newest Investors in Ofo the Bike Sharing Startup
Ofo the bike sharing startup based in China has set a goal of global expansion saying Thursday that it had raised more than $700 million in its latest funding round including monies from the Alibaba Group. Ofo’s funding round had... More of this article »
Samsung Overtaking Intel in Chip Race
Samsung Electronics should post its best ever profit for a quarter with soaring sales in memory chips driving it past Intel Corp as the largest maker of semiconductor chips through revenue for just the first time. The soaring demand... More of this article »
Total Investing $1 Billion in Gas Field in Iran
On Monday, Total SA, based in France, said it has agreed to a deal win Iran to invest $1 billion in a giant gas field in the Islamic Republic, which marks the first big investment in many years by a company from the West in Iran’s... More of this article »
Profit Surges at Micron Technology on Demand for Memory Chips
Micron Technology forecasted revenue and profit that was better than had been expected for its ongoing quarter as it has become the benefactor of improved prices for memory chips amidst tight supply that added to demand from providers... More of this article »
White House Ready to Place Big Tariffs on Steel
President Donald Trump is considering placing big tariffs on steel shipments into the U.S. from other countries. The president claims the steel poses a big risk to the national security. The tariffs could be placed as high as Trump... More of this article »
Infiniti Announces Deal with NBA’s Stephen Curry
Nissan Motor Co., the Japanese automaker announced that Infiniti its premium brand has entered into a marketing agreement with Stephen Curry a star with the NBA Champion Golden State Warriors. During his first year in the marketing... More of this article »
Foxconn Planning U.S. Plant For Making Displays
Foxconn, the largest contract electronics maker in the world and a major supplier for Apple Inc. is planning an investment of over $10 billion in a factory that will make displays. The plant will be in the U.S. and next month Foxconn... More of this article »
Qatar Airways Wants A Piece of American
This week, the aviation industry was taken by surprise when American Airlines made an announced that Qatar Airways, the government-owned airline asked to acquire a minimum stake of 10% in the U.S. based air carrier. The overture, which... More of this article »
SnapChat’s “Snap Map” Worries Parents Over Privacy
Snapchat has introduced Snap Map, its latest feature with some people very excited about it but others, such as parents, worried about how it will impact the privacy of their children. This new features allows users to see where all... More of this article »
Revenue at Oracle Exceeds Expectations Thanks to Cloud Demand
The push by Oracle Corp into the cloud computing arena has picked up momentum helping to spark a fourth consecutive quarter of increased revenue for the maker of software. The company, which established a record high at the close Wednesday... More of this article »
Lockheed Martin Could Manufacture Jets in India
Lockheed Martin says that one of the most commonly known fighter jets might soon be made in India. On Monday, Lockheed Martin said its F-16 classic aircraft will be made in the Asian country of India if the government there grants... More of this article »
Google Increases Measures Made to Remove Extremist Content
Google is set to implement additional measures that will help to identify and to remove violent extremist or terrorist content in YouTube its highly popular platform for video sharing, said the company late Sunday in one of its blog... More of this article »
McDonald’s Parting Ways with Olympic Games
McDonald’s will not be a sponsor any longer of the Olympic Games. The burger chain will end its affiliation of decades with the Olympic Games, cutting a deal shorts that it has in place that was set to run through at least 2020. McDonald’s... More of this article »
Walmart Acquiring Online Men’s Retailer Bonobos
Retail giant Walmart will acquire Bonobos the online men’s clothing retailer for a cash price of $310 million, showing that it continues to gobble up hip clothing brands as it tries to gain ground on Amazon. The acquisition is another... More of this article »
Shares of Snapchat Parent Fall to Opening Price of IPO
It appears the bears over Snap were right after all – at least for the time being. Shares of Snapchat’s parent, Snap Inc. were down close to 5% in Thursday trading, and reached the price of its initial public offering of $17 per... More of this article »
Federal Reserve Moves Interest Rates Higher
The U.S. Federal Reserved raised its short-term interest rates on Wednesday by one quarter of one percent. It’s the third increase in rates by the Fed since December of 2016. It is a strong sign that the U.S. central bank believes... More of this article »
British Inflation Moves Higher, Squeezing Consumers
Inflation in Britain jumped unexpectedly to its highest point in close to four years during May, putting a tighter squeeze on consumers. British consumers are also facing an additional worry of political uncertainty following the inconclusive... More of this article »