Corporate News

Companies Try to Keep White Supremacists from Getting Money

It will be much harder going forward for white supremacist organizations to plan activities and fundraise, as the pressure mounts on companies to kick out hate groups from their services. Discover is cutting its ties with sites that are considered hate groups, it announced this week, amidst the increasing pressure on financial services to make […]

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 per minute. It is estimated that by 2030, the market for these types of self-driving taxis could […]

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 for streaming content. Netflix CEO Reed Hastings announced during a recent conference that $6 billion of […]

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 the weekend, a gathering in Virginia of hundreds of white supremacists became deadly Saturday when a car drove into […]

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 to 2017 year end. The company said previously that it was expecting to only close between 40 and […]

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 earnings for the second quarter that reached $15.14 a share, which easily beat analyst estimates of […]

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 be developing a lineup of electric cars with Japanese based Toyota. Mazda, whose research & development budget is just […]

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 released a statement that said Breon Corcoran, who is 46 and has worked 16 years in different senior […]

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 its range of financial products offered. The company, which is based in San Francisco, and led […]

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 tech giant up 6% to a high of all-time in trading afterhours. The stock reached an intraday record […]

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 sensors in high-end handsets that have twin cameras on the rear. […]

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 in Asia. India is one of the fastest growing markets for aviation […]

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 Maria Molland Selby will become the new CEO as of Monday July 31. She is replacing Miki Agrawal who left Thinx in March. Agrawal, the brash Thinx […]

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 of China’s pressure to comply with Beijing’s strict regulations related to cyberspace and the Internet. […]

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 store shelves during August. The rollout arrives as Coca-Cola says that sales of its no- and low-sugar […]

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 ban the sales of fossil-fuel powered vehicles in 2040. This came after France two […]

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 video and mobile advertising. Google parent, Alphabet is deep into each of the four markets. It […]

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 of Madrid follows the return of the ride-hailing giant to Spain’s capital last year after the competition regulator ordered the government to […]

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 of disability and over-sales rules, while American was fined $250,000 for its failure to make refunds to its passengers on a […]

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 a laboratory at the FDA confirmed there was a presence in the coffee grounds of desmethyl carbodenafil, coffee […]

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 numbers were the different legal disputes that have caused revenues and profits to drop. The company’s earnings report […]

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 that surprised most. Its two biggest rivals Well Fargo & Co and JPMorgan Chase & […]

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 to run ITV, just as that same battleground has turned to television. Advertisers from cosmetics to cars to […]

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 credit card processing company wrote in one of its press releases that Visa was […]

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 year. Ned Segal will become the CFO at Twitter during August, said the company […]

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 with several different bidders, which at the time were rumored to include Express and American Eagle. However, […]

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 exchange in February of 2013 and increasing his account by over $1 million. In August […]

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 corporate headquarters. In simpler terms, Facebook is interested in building a town of its […]

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 Future Holdings Corp, the Oncor Electric Delivery Company parent, the largest Texas electricity transmission operator, said a statement […]

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 with the large fine, Hobby Lobby must forfeit large sums of cuneiform tablets, […]

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 safety, but will not kill the gas and diesel engine completely. By 2019, all Volvo […]

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 loans, providing new evidence 2017 will come up short of the records set last year for […]

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 name, due to the problems it encountered with the first launch when customers reported devices bursting into […]

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 event and the company has been happy with the response the first two years, […]

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 would still fly. Members of the airline’s mixed fleet cabin crew, which represents those who […]

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 while talking on a conference call to investors Thursday. Parker said that the two companies were in […]

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 latest quarter, handily outperforming expectations on Wall Street. The results were the fourth consecutive quarter of gains that […]

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 the state of California keeps of potentially cancerous chemicals. One year later, the listing may require warning […]

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 to improve its margins, buy stock back and shed its non-core businesses. The stake of 3.28 billion […]

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 harassed women in the tech industry. Caldbeck, in a prepared statement released by his firm Binary Capital in […]

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 deal so their jobs would be saved. However, it has not worked out the way he […]

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 across the West. Russian authorities have asked tech companies from the West to grant them the […]

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 as one of the high-flying startups in Silicon Valley, will remain on the board of directors of Uber, confirmed […]

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 global financial crisis in 2008. The Serious Fraud Office accusations are the first criminal charges […]

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 to date for the F-35, which makes its debut at the […]

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 in billing. The consulting firm said via a post on its website that the U.S. Department of Justice informed it […]

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 Corp that should be on sale by the latter part of 2017. Symjepi is a syringe that is prefilled with […]

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 changes will help streamline as well as speed up new strategic execution. The statement also explained the plans Nike […]

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 located in the U.S., are coming under heavy continual pressure from giants in e-commerce such as Amazon. The digital transformation […]

Yahoo Deal Closed by Verizon, Mayer Ends Tenure

Verizon Communications said Tuesday that it had closed its acquisition of $4.48 billion of Yahoo Inc.’s core business. Verizon also announced that CEO of Yahoo Marissa Mayer had resigned. The completion of this acquisition represents the end for Yahoo as a standalone web company. Yahoo was a pioneer in the tech world that at one […]