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Fiat Chrysler Links Up With BMW and Intel in Alliance
Fiat Chrysler is to join an alliance that BMW leads to develop self-driving vehicles, which intensifies a race by automakers and tech companies to develop the so-called robotaxis that can be called up using a smartphone and charges... More of this article »
Netflix Planning to Spend $16 Billion for Content
Video streaming behemoth Netflix’s hundreds of millions of subscribers are going to have a plethora of new original series and shows to watch over the upcoming few years. It said it has obligations of $15.7 billion committed to deals... More of this article »
CEO at Merck Resigns from President Trump Council
On Monday, CEO at Merck & Co. Kenneth Frazier has resigned from his seat on the American Manufacturing Council established by United States President Donald Trump. Frazier said he resigned due to extremism and intolerance. Over... More of this article »
Applebee’s Shuttering More Than 100 Locations, IHOP 25
Applebee’s and IHOP are shuttering 160 locations in 2017, said DineEquity the parent company for both on Thursday. A reported by a national newspaper said that Applebee’s would shutter between 105 and 135 of its restaurants prior... More of this article »
Priceline Plunges on Weak Outlook Even with Strong Earnings
Priceline Group Inc. shares fell by nearly 7% in trading after hours on Tuesday, as a poor forecast for its upcoming quarter worried investors despite an earnings beat for the second quarter. The booking site for travel posted adjusted... More of this article »
Mazda Makes Breakthrough in Engine Technology
Japanese carmaker Mazda Motor Corp. has unveiled its plans for the first ever commercial gasoline engine that uses compression ignition, that places traditional engines at the head of its strategy only days after announcing it would... More of this article »
Shares of Paddy Power Betfair Drop as CEO Resigns
Paddy Power Betfair announced on Monday that its CEO unexpectedly had departed only approximately 18 months after the world’s largest online betting business was created in a merger of more than £5 billion. On Monday, the company... More of this article »
Square Posts Revenue That Exceeds Expectations
Square Inc. the payments company posted a jump of revenue of 26% that was better than had been expected on Wednesday, as bigger businesses used the company’s technology to process their transactions while at the same time it expanded... More of this article »
Shares of Apple Reach Record High on Strong Sales of iPhone
On Tuesday, Apple Inc. delivered strong fiscal earnings for its fiscal third quarter and signaled that its soon to be launched 10th anniversary handset lineup was on schedule. That helped drive stock in the Cupertino, California based... More of this article »
Sony Set for Record Profit, Gives Cautious Tone
Sony Corp posted its best ever profit for the first quarter on Tuesday, as it took a big step towards its highest result for a full year in the past 20 years. Results were driven from demand from makers of smartphones for its image... More of this article »
Boeing Expecting 2,100 Aircraft to be Ordered by India
Boeing Co announced Monday that it is expecting airlines in India to order as many as 2,100 new planes with a value of more than $290 billion during the next two decades, calling it the largest forecast ever for the third largest economy... More of this article »
Period Underwear Maker Thinx New CEO Starts July 31
Thinx the period underwear brand hired a new CEO hoping to clean up the company’s image. Former executive with companies like Thompson Reuters, Yahoo, Dow Jones and Fab.com Maria Molland Selby will become the new CEO as of Monday... More of this article »
Apple Removing VPN Services from Its App Store in China
Apple Inc. will be removing all its virtual private network or VPN services from its Chinese app start, said providers of VPN services on Saturday. Those providers accused the tech giant, based in the U.S. of bowing to the government... More of this article »
Coke Zero Gives Way to Coca-Cola Zero Sugar
Coca-Cola announced on Wednesday that it was stopping the production in the U.S. for Coke Zero its no-calorie carbonated soft drink and would replace it with Coca-Cola Zero Sugar it new calorie-free drink. The soda will begin reaching... More of this article »
UK Says No More Fossil-Fuel Cars by 2040
The UK became Europe’s latest country to put a deadline on the making of gasoline and diesel fueled cars as automakers like Volvo are racing to make electric vehicles or face being left behind. The government in London said it would... More of this article »
Alphabet Leverages AI, Cloud, Mobile, and Video to Help Revenue
If technology remains ubiquitous today, the areas in which companies can earn money from it appear to be very scarce. Thus far in 2017, only a handful of sectors are reliable for generating profitable financials: AI, the cloud, streaming... More of this article »
Madrid Requests Probe Over New Uber Airport Service
Over the weekend, authorities in Spain’s capital of Madrid asked the country’s anti-trust watchdog to investigate whether the new, low-cost Uber airport transfer service represents unfair competition. The request by the city council... More of this article »
U.S. Fines Three Airlines for Violations of Consumer Rules
American Airlines, Frontier Airlines and Delta Air Lines were all fined for violating the U.S. Department of Transportation rules for consumer protection, said the department late Friday. Frontier was fined $400,000 for its violations... More of this article »
Coffee Recalled Due to Viagra-Like Substance Not Declared
A coffee company based in Texas has voluntarily recalled its coffee that contains an ingredient that is similar to what is found in Viagra the erectile dysfunction medication, said the United States Food and Drug Administration. After... More of this article »
Qualcomm Troubles Mounting With Smartphone Makers
Qualcomm is taking big hits financially over its disputes related to licensing with Apple and market analysts expressed concern. The company posted its earnings for its fiscal third quarter this week and standing out amongst all the... More of this article »
Bank of America Interest Income Falls Even After Rate Hike
The expected increase in earnings at Bank of America from increased interest rates has come to a halt. The lender, considered the most sensitive to changes in interest rates amongst U.S. banks, posted a drop in its net interest income... More of this article »
Carolyn McCall Back in Media Industry to Run ITV
When Carolyn McCall left the media industry for the airline world in 2010, publishers of newspapers were being sieged from the shift of advertising to online products that took advertising revenues away from them. She is returning... More of this article »
Visa Offering $10,000 to Restaurants to Stop Taking Cash
The Visa Cashless Challenge is on. Visa is trying to convince small restaurants, cafes as well as food trucks to stop taking cash, forcing the customer to uses digital payments, credit cards or debit cards to pay for their purchase. The... More of this article »
Twitter Appoints New CFO
Twitter Inc. has chosen a former close colleague of Anthony Noto its No. 2 executive to be the company’s new chief of finance, as the microblogging giant addresses a host of vacancies that were created at the company during the last... More of this article »
Retail Shares Plunge Following Scrapped Deal by Abercrombie
One analyst following the announcement that Abercrombie & Fitch ended its talks over a possible sale wrote he was not surprised a deal was not completed. The retailer announced during May that it was discussing a possible sale... More of this article »
CEO of Mt Gox Facing Court Trial
The chief of Mt. Gox the bitcoin exchange based in Japan will appear on Tuesday in a Tokyo courtroom to face charges of embezzlement. Authorities suspect Mark Karpeles, who was born in France, of accessing the computer system of the... More of this article »
Facebook Building Village With Housing, Hotel and Stores
Billions of people on social network use Facebook and now the company wants to attempt to create a community in today’s real world. The internet social media giant wants to build a hotel, retail stores, housing and more at its Facebook... More of this article »
Berkshire Hathaway Attempts Takeover of Oncor
Berkshire Hathaway Inc. owned by Warren Buffett is attempting to takeover a utility in Texas were NextEra Energy Inc. the energy giant and Hunts have failed. The energy unit at Berkshire Hathaway agreed to acquire reorganized Energy... More of this article »
Court Fines Hobby Lobby $3 Million for Smuggled Artifacts
Hobby Lobby the retailer specializing in arts and crafts agreed on Wednesday to pay a fine of $3 million for the illegal importing of thousands of clay artifacts that were smuggled out of Iraq and into the U.S., said federal prosecutors. Along... More of this article »
Volvo Dropping Traditional Engines
Volvo became the first traditional automaker to announce the end of internal combustion engines saying that all its cars will have electric motors over the next three years. The company is best known for the emphasis it puts on driver... More of this article »
Auto Sales in U.S. Drop in June for Fourth Consecutive Month
On Monday, major automakers reported their fourth straight month of lower sales for new vehicle in the U.S. for June, which came in just below expectations by analysts. This despite big consumer discounts as well as looser terms for... More of this article »
Samsung Brings Back Galaxy Note 7 In Refurbished Version
The largest smartphone maker in the world, Samsung, said it was bringing back its Galaxy Note 7 in a less expensive, refurbished version starting Friday in South Korea. The giant electronics maker has decided to change the phone’s... More of this article »
Amazon Promises Better and Bigger Prime Day
Amazon Prime day, the e-commerce retailer’s largest sales event for the year, will return on July 10 for the third consecutive year and ends July 12 at 3:00 a.m. An executive with Amazon said that its members loved the Prime Day... More of this article »
Cabin Crew at British Airways Starts Strike of Two Weeks
Some cabin crew members of British Airways started a strike of two weeks on Saturday over a prolonged dispute in pay, risking further damage to the brand and disruption in travel, although the airline announced that most of its passengers... More of this article »
Nike Confirms It Will Open an Amazon Shop
Last week Goldman Sachs hinted that a deal between Nike and Amazon was being put together. This week Nike CEO Mark Parker confirmed that the two companies are currently testing a partnership arrangement. Parker spoke about the deal... More of this article »
Olive Garden Helps Darden Restaurant Outperform Peers
A comeback at Olive Garden, the Italian restaurant chain that was at one time struggling has helped Darden Restaurants outperform its peers in casual dining. Sales at its same-restaurants increased by 4.4% for Olive Garden during its... More of this article »
Weed Killer Ingredient Being Added to Cancer Causing List
Regulators in California have taken a big step toward requiring popular Roundup, the weed killer, to have a warning label. Officials announced beginning July 7, the main ingredient of the weed killer, glyphosate will be on the list... More of this article »
Third Point Wants Change at Nestle
Third Point LLC operated by Daniel Loeb an activist investor unveiled on Sunday a stake of over 1% in Nestle SA the Switzerland-based confectionery and packaged foods giant. He urged the largest packaged foods maker in the world... More of this article »
Sexual Harassment Claims Rock Silicon Valley Yet Again
Silicon Valley was hit again by sexism claims and of women being harassed. On Friday, Justin Caldbeck a venture capital investor announced he would take an indefinite leave of absence from his company following accusations he sexually... More of this article »
Workers Being Laid Off By Carrier Feel Betrayed by President
A promise made prior to Christmas is now becoming a summer time nightmare for some. Last December, Donald Trump, the then President-elect told scores of workers at a manufacturing plant operated by Carrier that he worked out a new... More of this article »
Western Tech Companies Feel Pressure, Bow to Demands by Russia
Western tech firms including IBM, SAP and Cisco, have acceded the demands by Moscow to gain access to product security secrets that have been closely guarded, during a time when the Russian government has been accused of several cyberattacks... More of this article »
Uber CEO and Founder Resigns Amidst Revolt by Shareholders
Following several months of problems that ended in a revolt by shareholders, CEO and founder of Uber, the ride-hailing company, Travis Kalanick resigned on Tuesday. Kalanick, who in 2009 helped found Uber and established the company... More of this article »
Barclays Charged in Qatar Fund Raising Along With Former Executives
Barclays Bank, along with a former CEO and three former senior managers were charged with criminal counts on Tuesday related to agreements reached by the bank with Qatar, as it looked to avoid a bailout by the government during the... More of this article »
Lockheed Close to Signing Deal with 11 Countries to Sell F-35 Jets
Lockheed Martin Corp. is nearing the final stages of a deal that is worth over $37 billion to sell 440 F-35 fighter jets to 11 countries including the U.S. said a pair of sources aware of the talks. It would represent the biggest deal... More of this article »
Federal Government Investigating Booz Allen Hamilton
Booz Allen Hamilton the huge U.S. contractor who is at the center of a high-profile disclosures of sensitive classified information, said late this week it was under both civil and criminal investigation for possible irregularities... More of this article »
FDA Approves Lower Cost Alternative to the EpiPen
Regulators from the U.S. Food and Drug Administration approved competition for the emergency allergy medicine EpiPen that put Mylan into the spotlight for pharmaceutical greed. This week the FDA approved a product from Adamis Pharmaceuticals... More of this article »
Nike Eliminating 2% of Global Workforce
Nike announced its new business structure that amongst other changes will involve the cutting of 2% of its global workforce. In a prepared statement on Thursday, the sports apparel retailer said that Nike’s organizational and leadership... More of this article »
Smaller Stores and VR Could Be Ikea’s Future
Swedish retailer Ikea is embarking on a number of experiments in retail along with technological innovations that it is hoping will keep its shoppers returning. The emphasis on experimenting comes as many retailers, especially those... More of this article »