New Virus Spreading Through Computers That Started in Ukraine

A new computer virus created havoc for companies across the globe Wednesday after spreading to over 60 countries helping to disrupt ports from Los Angeles to Mumbai and stopping work at an Australian chocolate factory. Cyence an online firm that specializes in risk management said that the economic losses from the attack this week and […]

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 […]

Blackjack Popularity Down, Online Casinos Taking Charge

Classic table games at casinos have been evolving with the gambling industry over the years. But in recent years, the increase of slots and online casinos has changed how people are gambling. That means that the popularity of those iconic games has changed as well. Over the last 30 years, big changes have taken place […]

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 […]

What is Responsible Gambling?

Gambling has never been so accessible. Casino gaming, sports betting and bingo have all left the controlled environment of the high street and are now available online 24 hours a day, 7 days a week. Although gambling can be a fun experience with the chance to win some money, it can also be highly addictive […]

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 […]

Hyundai Motor Betting on Small SUV as Sales Drop in China

Hyundai Motor unveiled its first subcompact SUV Kona for its advanced markets that include Europe, the United States and South Korea. The carmaker is attempting to offset dropping sales across China and catch up to rivals in this segment. The automaker based in South Korea said it would be also launching an electric model of […]

Uber Considering Leave of Absence for CEO

The board at Uber, the ride-hailing startup, in the face of accusations that its executives turned their back to corporate misbehavior including sexual harassment, moved Sunday to shake the leadership of the company up prior to the release of findings in an investigation on its problematic culture that is due out this week. The directors […]

Qualcomm-NXP Deal Sparks EU Antitrust Investigation

EU antitrust authorities opened an investigation into Qualcomm’s (NASDAQ:QCOM) planned acquisition of NXP Semiconductors (NASDAQ:NXPI) on Friday. Qualcomm agreed to buy Netherlands-based NXP for $39 billion in October. The deal is the largest-ever in the semiconductor industry. The newly merged company would hold strong market positions with both baseband chipsets and chips for mobile devices. […]

Sears Planning Additional Store Closures

The troubled Sears Holdings (NASDAQ:SHLD) will be closing an additional 66 stores, according to a source close to the company. The new round of planned closures include 49 Kmart and 17 Sears stores. There are also reports that seven Sears Auto Centers are slated for closure. The additional closures will be on top of the […]

Reports Emerge Of New Amazon Android Phone In Works

Amazon (NASDAQ:AMZN) is reportedly building a new phone based on the Android mobile operating system. Reports citing “two sources familiar with the matter” say that Amazon is quietly developing a new smartphone being referred to as ‘Ice’ internally, though it’s not clear if Amazon will eventually market the devices under the Ice name. The new […]

Google Adding New Ad-Blocking Feature To Chrome

Alphabet’s (NASDAQ:GOOG) Google will add a new feature to its Chrome web browser that will block certain types of ads from being seen by users. Sridhar Ramaswamy, senior vice president of ads and commerce, outlined the company’s new strategy for dealing with ads in a blog post. Ramaswamy said, “In dialogue with the Coalition and […]

Michael Kors Announces Plan To Close Many Locations

Michael Kors (NYSE:KORS) has announced plans to close 100 to 125 full-price stores over the next two years. As of April 1, the company had 827 retail locations. The company will be holding an investor day at its New York headquarters on June 9. At that event, management will update attendees on Michael Kors’ 2020 […]

Super Antibiotic Created To Fight Superbugs

Researchers in the United States have managed to re-engineer a vital antibiotic to better attack some of the world’s most threatening superbugs. A new version of vancomycin is designed to be super tough and much more potent than the old drug. The changes made appear to have worked, increasing the strength and durability of the […]

Exercise Proven To Improve Sleep

If you are having trouble sleeping, science has found a much safer solution than sleeping pills. Research suggests those who are physically active a have lower risk of developing insomnia and other sleeping difficulties. The University of Pittsburgh’s Christopher Kline said, “The results show exercise improves both self-reported and objective measures of sleep quality, such […]

Sears Q1 Earnings Report Shows Promise

Sears Holdings Corp. (NASDAQ:SHLD) has just reported its first quarterly profit in nearly two years. Net income attributable to Sears’ shareholders was $244 million, or $2.28 per share. On an adjusted basis, the company reported a net loss of $2.15 per share, compared with the $3.05 per share loss expected by Wall Street analysts. Unfortunately, […]

Proposed Cuts To USDA Worry Farmers

The U.S. Department of Agriculture’s proposed 2018 budget includes a 20 percent cut in the agency’s discretionary spending. The proposed cuts include a reduction in money for agricultural research, reduced food aid for the poor, and slimming down programs that benefit small rural communities. The budget also proposes new restrictions on government-subsidized crop insurance. The […]

Supreme Court Ruling Deals Blow To Patent Trolls

A ruling made by the U.S. Supreme Court on Monday may make it harder for dodgy patent lawsuits to be filed in friendly courts. The decision came from a legal battle between beverage flavoring company TC Heartland LLC and food and beverage company Kraft Heinz Co. Kraft started the battle when it filed a patent […]

AT&T Strike Closes Some Wireless Stores

Some AT&T (NYSE:T) wireless retail stores across the country were closed on Saturday as striking workers picketed outside. Reports came of sporadic store closings from Montana to Bangor, Maine. This was the first labor strike against the company in four years. The Communications Workers of America represents the 21,000 wireless workers striking in 36 states […]

Dunkin’ Donuts Launches Nationwide Tasting Event For New Product

Dunkin’ Donuts (NASDAQ:DNKN) has launched a nationwide tasting event to give away free samples of its new summer drink on Friday. The new Frozen Dunkin’ Coffee is made with a special extract featuring 100 percent Arabica coffee blended with ice and dairy for a rich, sweet and creamy beverage. Frozen Dunkin’ Coffee can be customized […]

Salesforce Beats On Earnings And Revenue In Q1

Salesforce (NYSE: CRM), announced results for its fiscal first quarter, ended April 30, 2017, today. The company reported a net loss of $9.2 million, or 1 cent per share, in the latest quarter, compared with a profit of $38.8 million, or 6 cents per share, a year earlier. On an adjusted basis, Salesforce reported earnings […]

Qualcomm Goes After Apple’s Contract Manufacturers Over Royalties

Qualcomm Inc. (NASDAQ:QCOM) is now suing several Apple Inc. (NASDAQ:AAPL) contract manufacturers for failure to pay patent royalties. Qualcomm filed its complaint in federal court in San Diego. The company says that four Asian contract manufacturers aren’t complying with their obligations to pay for the use of its patented technology. The four companies being sued […]

Sears Launches Lawsuit Against Tool Vendor

Sears (NASDAQ:SHLD) has filed a lawsuit against top tool vendor One World Technologies for allegedly refusing to honor its contract with the retailer. One World Technologies is a subsidiary of China-based Techtronic Industries. The company manufactures power tools and other products under the Craftsman brand. The lawsuit claims that the tool vendor threatened to cancel […]

General Motors Launches Maven In NYC

General Motors (NYSE:GM) launched Maven, its new ride-sharing service, in New York City on Monday. NYC is a key market for Maven, and could be one of its strongest, given the urban density. The service will initially have 80 cars available around Manhattan. Maven will continue to grow its fleet in NYC as demand increases […]

Eli Lilly Reports Successful Trial Of New Migraine Drug

A new drug from Eli Lilly (NYSE:LLY) has reached its main goals in late-stage clinical trials, according to a statement from the company released Friday. The drug, galcanezumab, was in three Phase 3 clinical trials. Galcanezumab is part of a new class of drugs that interfere with a protein thought to play a role in […]

Verizon Emerges As Winner Of Straight Path Sale

Verizon Communications Inc. (NYSE:VZ) is the winner of the auction for wireless spectrum holder Straight Path Communications Inc. (NYSE:STRP) with a $3.1 billion bid. The $184 per share all-stock offer represents a discount of 17.8 percent on Straight Path’s closing share price on Wednesday. The deal is expected to close within nine months, pending review […]

Time Inc. Reports Another Sales Decline

Time Inc. (NYSE:TIME) reported another drop in quarterly sales in the first quarter of its fiscal year, ended March 31. On its earnings call Wednesday, Time reported a loss of $28 million, or 29 cents per share in the first quarter, bigger than the loss of $10 million, or 10 cents per share, a year […]

Coach Acquiring Kate Spade For $2.4B

Handbag maker Coach Inc. (NYSE:COH) has announced it has reached a deal to acquire its smaller rival, Kate Spade & Co. (NYSE:KATE), for $2.4 billion. Coach has reportedly agreed to pay $18.50 per share in an all-cash offer, representing 9 percent premium to Kate Spade’s closing price on Friday. The deal is expected to close […]

21st Century Fox Sets Sights On Tribune Media

Reports have emerged that 21st Century Fox (NASDAQ:FOX) is in talks with private equity firm Blackstone to launch a joint bid for Tribune Media (NYSE:TRCO). The companies plan to form a joint venture for the deal, having Blackstone provide funding and Fox adding some TV stations from its portfolio. Fox and Blackstone hope to outbid […]

Anthem Fails To Overturn Block of Cigna Merger

An appeals court has denied Anthem Inc.’s (NYSE:ANTM) bid to overturn a court ruling that blocked its planned merger with Cigna Corp. (NYSE:CI) The federal appeals panel in Washington upheld the lower court’s ruling by a 2-1 vote. The Justice Department had sued to stop the $48 billion merger, which would combine two of the […]

Under Armour Posts First Loss Since IPO

In the first quarter of fiscal year 2017, Under Armour (NYSE:UA) recorded its first loss since it went public in 2005, posting a $2.27 million loss or 1 cent a share. Discounts have heavily weighed on its results. The company’s first-quarter gross profit margin fell 70 basis points to 45.2 percent. It has forecast its […]

A Chipotle Recovery May Be In The Works

Chipotle Mexican Grill Inc. (NYSE:CMG) appears to be recovering after five quarters of declines. The company reported earnings of $1.60 a share last quarter, higher than the $1.29 predicted by analysts. Revenue climbed to $1.07 billion, topping an average estimate of $1.05 billion. The burrito chain’s sales are finally starting to bounce back after its […]

General Motors’ Efforts To Limit Lawsuits Fail

General Motors’ (NYSE:GM) request to the U.S. Supreme Court to keep hundreds of lawsuits related to its faulty ignition switches from proceeding has been denied. The company could now be exposed to billions of dollars in additional claims. The Supreme Court turned away an appeal from the company regarding a lower court ruling that said […]

Panera Plans To Expand Delivery, Add Jobs

Panera Bread Co. (NASDAQ:PNRA) has announced plans to expand delivery services to more of its cafes and hire 10,000 new employees by the end of the year. It hopes to expand delivery to 35 percent to 40 percent of locations by the end of 2017. According to Panera’s forecasts, delivery will add roughly $250,000 per […]

Wells Fargo Expands Account Scandal Settlement

Banking giant Wells Fargo (NYSE:WFC) has announced that it is expanding the settlement it reached over charges that it fraudulently opened bank and credit accounts in customers’ names. Wells Fargo said it will add $32 million to the previous agreement, which will now total $142 million in restitution. The expansion is intended to cover more […]

Verizon Misses Expectations For Q1

Verizon Communications Inc. (NYSE:VZ), the No. 1 U.S. wireless carrier, missed earnings expectations for the first quarter of its fiscal year. Verizon reported net income of $3.45 billion, or 84 cents per share, in the quarter ended March 31. This was down from $4.31 billion, or $1.06 per share, reported in the same period a […]

Qualcomm Beats Expectations For Q2

Qualcomm Inc. (NASDAQ:QCOM) reported adjusted sales and profit that topped analysts’ estimates in the period that ended in March. The company reported that net income fell to $749 million, or 50 cents a share, in the fiscal second quarter, which ended March 26. On an adjusted basis, profit was $1.34 a share, compared with an […]

Goldman Sachs Misses Expectations For Q1

Goldman Sachs Group Inc. (NYSE:GS) missed earnings expectations for the first quarter of its fiscal year in a rare fumble for the fifth-largest U.S. bank by assets. Net income almost doubled to $2.26 billion, or $5.15 a share, from $1.14 billion, or $2.68, a year earlier. However, the results were well short of analyst forecasts […]

Netflix Misses Growth Target For First Quarter

Netflix (NASDAQ:NFLX) missed its subscriber growth targets for the first quarter. Netflix added nearly 5 million new subscribers in the quarter, 3.5 million of whom were overseas. The streaming service had expected to add a net 5.2 million users, with 3.7 million of those being international. The subscriber additions also did not meet Wall Street’s […]