Latest News

Carrier Corp. Offered $7M In Incentives To Retain U.S. Jobs

Carrier Corp. will receive a $7 million incentive package as part of a deal to keep some of its workers in the United States. Carrier will receive $5 million in tax credits over 10 years in exchange for keeping 1,069 jobs at its Indianapolis plant. The company also will receive $1 million in training grants […]

Airbnb Agrees To Rental Limits For First Time

Popular home-sharing website Airbnb has agreed to rental limits in two European cities after complaints that the company’s practices were negatively affecting home availability. Critics complain that homeowners using the site can potentially make more money by renting out their properties to short-term visitors instead of long-term tenants. Airbnb promised to institute restrictions that would […]

GoPro Slashing Jobs In Bid To Become Profitable

GoPro Inc. (NASDAQ:GPRO) has announced that it will reduce its workforce by 15 percent in its latest bid to help the company become profitable. That equates to more than 200 full-time positions. The company currently employs approximately 1,700 people. Tony Bates, who joined as GoPro’s President in June 2014, is stepping down by the end […]

Samsung Responds To Investors’ Call For Change

South Korean electronics giant Samsung (SSNLF) has issued a response to pressure from investors seeking changes in the company. The company released a lengthy statement detailing how it was working to satisfy shareholders. In the statement, the company said it was looking at ways to optimize its long-term value. Investors have been calling for the […]

Teva Pharmaceutical To Market World’s First Medical Cannabis Inhaler

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is on track to begin marketing the world’s first inhaler for medical cannabis. Teva partnered with Syqe Medical to develop the device. In a statement, the companies said that the device was the first inhaler in the world capable of delivering botanicals at the level of safety and precision of […]

New Skin Patch Tracks Health Through Sweat

Researchers are developing an innovative new way to track health and fitness. A skin patch has been developed that can test droplets of sweat to track health while people exercise. Testing showed that the patches would work even on sweaty bicyclists throughout a long-distance race in Arizona. Researchers revealed the details of the devices in […]

Tesla Completes Deal For SolarCity

Tesla Motors’ (NASDAQ:TSLA) deal to acquire SolarCity Corp. (NASDAQ:SCTY) closed Monday. The all-stock deal valued SolarCity at $2 billion based on Tesla’s closing stock price Friday. When Tesla and SolarCity announced the agreement in August, it was worth $2.6 billion. However, both of their share prices have dropped since then. Tesla CEO Elon Musk is […]

Symantec Announces Bid To Buy LifeLock

Computer security firm Symantec (NASDAQ:SYMC) announced a $2.3 billion bid to buy identity protection service LifeLock (NYSE:LOCK) on Monday. The offer for LifeLock values its shares at $24 apiece, 16 percent above Friday’s closing price. Symantec says that it will finance the deal with a combination of cash and $750 million of new debt. The […]

Facebook Enhances WhatsApp With Secure Video Calling

Facebook (NASDAQ:FB) is adding fully encrypted video calling to its WhatsApp messaging app in a move to assuage privacy concerns. Now, people have another way to communicate without fear of eavesdropping by companies or government authorities. The feature will be introduced at an event in India and subsequently be rolled out to 180 countries within […]

LinkedIn Blocked In Russia After Court Ruling

Russia‘s communications regulator has ordered that public access to LinkedIn’s (NYSE:LNKD) website be blocked throughout the country. Roskomnadzor, also known as the Russian Federal Service for Supervision of Communications, Information Technology and Mass Media, ordered Internet service providers to block access to the business networking company. The order against LinkedIn was issued in a short […]

Target Beats Expectations For Sales And Earnings

Target (NYSE:TGT) reported a much smaller than expected decline in comparable sales for the third quarter of its fiscal year and topped Wall Street’s sales and earnings estimates. Target’s adjusted earnings were $1.04 per share on sales of $16.44 billion in the fiscal third quarter. Analysts had expected earnings of 83 cents a share on […]

Facebook Under Fire For Fake News On News Feeds

Facebook (NASDAQ:FB) is facing increasing criticism over allowing fake news stories to spread on the social-media site. President Barack Obama famously called Facebook a “dust cloud of nonsense” during the 2016 US presidential election cycle. Now, Facebook has officially vowed to do better when it comes to fake news on the platform. A recent study […]

Samsung Makes $8B Bet On Smarter Cars

Samsung’s (SSNLF) latest deal, announced Monday, will find it acquiring U.S. auto-parts supplier Harman International for $8 billion in an all-cash deal. Samsung’s $112-a-share offer for Harman is well below the roughly $145 that each Harman share was worth early last year. However, the deal values Harman at 15.8 times next year’s adjusted earnings and […]

Google Launches Android Auto Smartphone App

Android Auto is now available as an app for your phone after Google (NASDAQ:GOOGL) launched its most recent update to the program. You can now get all the benefits of Android Auto even if your car isn’t Android Auto compatible. The Android Auto app is compatible with any phone that runs Android 5.0 and newer. […]

Delta To Debut Premium Economy Service Next Year

Over the past few years, Delta Air Lines (NYSE:DAL) has invested billions of dollars in its cabin modernization program and the customer experience. Now, it is bringing those results to market through its new Delta Premium service. Delta SVP and chief marketing officer Tim Mapes’ stated that “Delta Premium is Delta’s latest example of paying […]

Wells Fargo Investigating Leadership’s Role In Account Scandal

Wells Fargo & Co. (NYSE:WFC) is continuing to investigate the circumstances surrounding the recent account scandal that rocked all levels of the company. A generation of executives thrived in the ambitious sales culture promoted by the bank in recent years, winning promotions and being held up as examples of what colleagues could aspire to. At […]

Facebook: Posts Can’t Be Used For Pricing Car Insurance

The rollout of a new app has been delayed after Facebook (NASDAQ:FB) determined that posts to its social media site cannot be used to price car insurance for new drivers. Insurance company Admiral had intended to launch an app that used an algorithmic assessment of Facebook posts to price car insurance premiums for first time […]

Standard Chartered Fails To Meet Earnings Estimates For 3Q

Standard Chartered (STAN) reported disappointing third quarter results on Tuesday. The bank generated income of $3.47 billion in the July to September quarter, down 6 percent from $3.68 billion from a year ago. Its third quarter underlying pretax profits were $458 million, compared with a $139 million loss last year. That missed the $520 million […]

General Electric Makes Huge Bid For Baker Hughes

General Electric’s (NYSE:GE) bid to pay $7.4 billion in cash to combine its sector assets with Baker Hughes (NYSE:BHI) may be its biggest-ever deal in the oil and gas industry. GE will pay Baker Hughes a special dividend of $17.50 a share for a stake of 62.5 percent in the new company and contribute its […]

Facebook Under Fire Over Ethnic Targeting

Facebook (NASDAQ:FB) has come under fire over an option in its ad targeting platform that lets advertisers exclude certain ethnicities from seeing certain ads. The potential flaw in the ad-buying system was discovered by ProPublica. While, Facebook’s targeted advertising is designed to exclude people who wouldn’t be interested in a product or service, discriminating ads […]

Caterpillar Woes Continue With Weak Demand In 3Q

Caterpillar Inc. (NYSE:CAT) continues to suffer in the global commodities bust. Sales of construction, mining and oil equipment remain weak. Caterpillar is currently the world’s largest maker of mining and construction equipment, including bulldozers, trucks and other heavy machines, so it is feeling the effects more than most in the industry. Caterpillar Chairman and Chief […]

EpiPen Rival Auvi-Q Coming Back To Market

An EpiPen rival will be returning to the market next year as a cheaper alternative to the lifesaving device. Kaléo announced on Wednesday that they would bring the Auvi-Q back in the first half of 2017. Like the EpiPen, the Auvi-Q will inject an emergency dose of epinephrine in the event of a severe allergic […]

Visa 4Q Earnings and Revenue Higher Than Expected

Visa (NYSE:V) reported better-than-expected fiscal fourth-quarter earnings that rose 28 percent from a year earlier. Visa reported net income of $1.93 billion, or 79 cents per share, for the period ended Sept. 30, compared with $1.51 billion, or 62 cents per share, in the same period a year earlier. Analysts surveyed by FactSet expected earnings […]

TD Ameritrade-Scottrade Merger Under Scrunity

TD Ameritrade (NASDAQ:AMTD) has announced plans to purchase Scottrade for $2.7 billion, but the deal may face some regulatory hurdles and is expected to face close scrutiny from regulators. TD Ameritrade’s acquisition of Scottrade would leave only four major brokers operating in the United States, with the others being Charles Schwab, Fidelity Investments and E-Trade. […]

British American Tobacco Seeks To Acquire Reynolds American

British American Tobacco PLC (LON:BATS) wants to own all of Reynolds American Inc. (NYSE:RAI). BAT offered to pay $47 billion for the roughly 58 percent of Reynolds that it doesn’t already own. The company would pay cash and BAT stock worth $56.50 a share for the rest of the company. The offer is a roughly […]

Walgreens Beats On Earnings, Misses On Revenue

Walgreens Boots Alliance Inc. (NASDAQ:WBA) reported mixed results for its latest quarter. While adjusted earnings topped estimates, revenue fell shy of expectations. The company reported net earnings of $1.03 billion, or $0.95 a share, on revenue of $28.6 billion for the quarter. On an adjusted basis, its EPS would have been $1.07. Wall Street analysts […]

Johnson & Johnson Beats Income And Revenue Estimates For 3Q

Johnson & Johnson (NYSE:JNJ) reported third-quarter revenue and profit that beat Wall Street estimates. Net income rose 27 percent to $4.27 billion, or $1.53 a share, from $3.36 billion, or $1.20 a share in the same quarter a year ago. Excluding special items, Johnson & Johnson earned $1.68 per share on revenue of $17.82 billion. […]

New Options Coming To Healthcare.gov

Many consumers will have a new option for Healthcare.gov’s fourth open-enrollment period. The website is adding standardized health plans that cover basic services without a deductible. The Obama administration said in a statement that the new standardized options are meant to ensure that “enrollees receive some upfront value for their premium dollars.” The new options […]

Amazon Ramps Up Holiday Hiring By 20%

Amazon (NASDAQ:AMZN) announced that it would be increasing the number of seasonal associates it hires for the holidays by 20 percent this year. Amazon will be hiring more than 120,000 temporary workers for this holiday season. The Seattle retailer hired 100,000 seasonal associates last year. The seasonal positions will be created at fulfillment centers, sorting […]

Samsung Halts Shipping Of Replacement Galaxy Note 7s

Samsung has stopped production of the Galaxy Note 7 in cooperation with safety regulators from South Korea, China and the US. Samsung said it is “temporarily adjusting” the production schedule to ensure a safer phone. There has been no word on how long the adjustment would take. The Note 7 launched in mid-August as one […]

Facebook Aiming To Become A Workplace Essential

Facebook has officially launched Workplace, aiming to expand its services into the business world. Many people communicate with their friends primarily via social media platforms like Facebook. The social media giant now wants us to use Facebook at the office during working hours. A company spokesperson said, “The same way we connect people, we want […]

Mylan Announces $465M Settlement With Government

Mylan (NASDAQ:MYL) has reached an agreement to pay $465 million to settle charges that company overcharged Medicaid for the allergy treatment EpiPen. Mylan will take the entire charge in the third quarter to pay for the settlement. Government spending on the EpiPen totaled nearly $1.3 billion from 2011 to 2015. It has not been disclosed […]

Yahoo Accused Of Scanning Users’ Email For Government

Reports have emerged of Yahoo’s (NASDAQ:YHOO) use of custom-built software to scan its users’ emails on behalf of federal investigators. Yahoo reportedly built a specialized program to search the incoming emails of its hundreds of millions of customers for the U.S. government. The Yahoo program as described in the report would be the first case […]

Amazon Changing Its Policy On Incentivized Reviews

Amazon (NASDAQ:AMZN) is eliminating incentivized reviews from its platform, except for those from within the Amazon Vine program. The change was made to its Community Guidelines and announced today. The changes will apply to all product categories other than books. This is yet another step in Amazon’s effort to make its review and rating system […]

Bass Pro To Acquire Outdoor-Gear Rival Cabela’s

Bass Pro Shops is close to acquiring Cabela’s Inc. (NYSE:CAB) after partnering with Goldman Sachs Group Inc’s private equity arm and Capital One Financial Corp. to submit the winning bid for the company. The wilderness-themed retailer is buying Cabela’s for $65.50 per share, or about $5.5 billion. Bass Pro reportedly beat out private-equity firm Sycamore […]

Viacom And CBS May Be Merging Soon

CBS and Viacom Inc. (NASDAQ:VIA) may be getting back together after spending nearly a decade apart. Reports emerged Thursday that they are considering a merger. Viacom bought CBS in 2000. The companies split six years later because of views that CBS and its traditional media assets were a drag on Viacom’s younger-skewing platforms. The Redstone […]

Nintendo’s Pokémon Go Aims To Regain Popularity

Nintendo’s (NTDOY) hit game Pokémon Go is trying to regain its former popularity with updates that make the game more attractive to players. The augmented reality app has players find Pokémon throughout their surroundings with the use of GPS and internet services. Niantic and Nintendo want to bring the game back near its peak in […]

Twitter Inching Closer To A Sale

Twitter’s (NYSE:TWTR) board has reportedly been considering a sale this month. The microblogging service has reportedly started talks with a number of technology companies to sell itself. Speculation that Twitter would be sold has gathered steam in recent months. Now, sources are saying that a sale could occur in the next 30 to 45 days. […]

Mylan Under Fire For Creative Accounting Of EpiPen Profits

The currents swirling around the steep price increases on Mylan NV’s (NASDAQ:MYL) lifesaving EpiPen drug just got a little deeper for the company’s embattled CEO. When the company’s chief executive Heather Bresch testified before a congressional committee last week, it was claimed that Mylan’s profit on a $608 two-pack of the injectors was just $100. […]

Catch The General Election Debates On Twitter

Twitter (NYSE:TWTR) has formed a partnership with Bloomberg Media to livestream the general election debates. Bloomberg Media is Twitter’s exclusive streaming partner for the debates. Bloomberg Media CEO Justin B. Smith said in a statement, “We are thrilled to extend our partnership with Twitter to include our coverage of the U.S. presidential debates during this […]

Allergan Announces Pair Of Acquisitions

Allergan Plc. (NYSE:AGN) announced a pair of acquisitions on Tuesday, both of companies developing treatments for liver disease. Allergan changed its dealmaking strategy following the collapse of its planned $160 billion merger with Pfizer Inc. Now, the company is focusing on acquiring small and mid-sized assets. The company will hold a conference call Wednesday, September […]

Johnson & Johnson Inks Deal For Abbott Eye Health Unit

Johnson & Johnson has reached an agreement to buy the eye health unit of Abbott Laboratories for about $4.3 billion in cash. The unit, called Abbott Medical Optics, makes eye drops and contact lens cleaners, as well as equipment used for cataract surgery and laser vision correction procedures. Abbott bought the business for $2.8 billion […]

Monsanto Agrees To Bayer’s Takeover Bid

Monsanto Co. (NYSE:MON) has reached an agreement for Bayer AG to buy the company in an all-cash deal worth about $66 billion. The deal will marry two of the world’s top farm suppliers. Details of the merger agreement is to be revealed by next week. The companies expect the deal to be closed by the […]

Weight Watchers On The Search For New CEO

Weight Watchers (NYSE:WTW) chief executive James Chambers has announced that he will resign at the end of September. According to a statement from the company, he and the board of directors made a “joint decision” that he should leave after three years on the job. Chief Financial Officer Nicholas Hotchkin and directors Thilo Semmelbauer and […]

Aeropostale Selling Business To Mall Group

Teen clothing retailer Aeropostale Inc. (AROPQ) will be selling its assets to a partnership of mall owners after receiving permission from the court for the deal. The group won a Sept. 2 auction for the business with a bid of $243 million. U.S. Bankruptcy Judge Sean Lane approved the sale in Manhattan court Monday. The […]

HP Inc. To Pay $1.05B For Samsung’s Printing Business

HP Inc. (NYSE:HPQ) has announced that it has reached an agreement to purchase Samsung’s printing business in a deal worth $1.05 billion. With the acquisition, HP gets Samsung’s laser printing technology and around 6,500 printing technology patents. The sale is expected to take place after Samsung’s printer business completes its spinoff on November 1 and […]

Chipotle Settles Illness Claims Of 100+ Customers

Chipotle Mexican Grill (NYSE:CMG) has reached financial settlements with more than 100 customers who were sickened by foodborne illness outbreaks at the chain last year. Lawyers for the consumers announced the settlements. The terms of Chipotle’s settlements with customers are confidential, according to the lawyers representing them. Last year’s string of food-safety problems created a […]

Hewlett-Packard Enterprise Sells Software Unit

Hewlett-Packard’s Enterprise’s software unit has officially been sold in an $8.8 billion deal. Micro Focus is the other party to the transaction. The new combined company will continue under the name Micro Focus. The transaction is expected to be completed by the second half of HPE’s fiscal year 2017. The assets included in the transaction […]

Intel To Receive $3.1B For McAfee Deal

Intel (NASDAQ:INTC) is selling off a majority stake in its McAfee unit. Intel is receiving $3.1 billion in cash as part of the deal. Once the deal is complete, investment firm TPG will own a 51 percent stake in the new McAfee company. Intel will own the remainder. The deal is expected to close in […]

Bayer Sweetens Monsanto Offer, Raising Per Share Price

Bayer AG (BAYRY) has raised its offer to buy Monsanto Co. (NYSE:MON) from its previous offer of $125 a share to $127.50 a share. The deal would create a global firm well positioned to help farmers around the world produce food for a growing population. Monsanto is currently the world’s largest supplier of crop seeds […]