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Wells Fargo Announces Further Clawbacks Of Executive Compensation
Wells Fargo (NYSE:WFC) has announced its intentions to claw back tens of millions in additional compensation from top former executives involved in the fake account scandal that rocked the bank last year. The crisis blew up for Wells... More of this article »
Payless ShoeSource Files For Chapter 11 Bankruptcy
Payless ShoeSource has become the latest major retailer to file for Chapter 11 bankruptcy. Payless chief executive W. Paul Jones released a statement saying, “This is a difficult, but necessary, decision driven by the continued challenges... More of this article »
Verizon Announces New Plans For AOL And Yahoo
After Verizon’s (NYSE:VZ) purchase of Yahoo goes through, AOL and Yahoo will be merged into a company known as “Oath.” The company has plans to launch Oath in the coming months, according to an AOL spokeswoman. The... More of this article »
Reports Claim Panera Bread Exploring Possible Sale
Reports have surfaced that Panera Bread (NASDAQ:PNRA) is exploring a possible sale. According to sources close to the company, Panera is working with advisors to look over strategic options after receiving takeover interest. Potential... More of this article »
Mylan Expands EpiPen Recall
Drugmaker Mylan NV has expanded a recall of EpiPen devices in the United States and other markets. Meridian Medical Technologies, Mylan’s manufacturing partner, has issued a voluntary recall for 13 lots of the EpiPen and EpiPen... More of this article »
DuPont-Dow Merger Delayed By FMC Asset Deal
To win European Union approval for its merger with Dow Chemical (DOW.N), DuPont (DD.N) has announced its intentions to sell part of its crop protection business to FMC Corp. (FMC.N) while buying another unit of the company. This will... More of this article »
Lululemon Reports Mixed Results For Fourth Quarter
Lululemon (NASDAQ:LULU) reported mixed earnings for the fourth quarter. Net income increased to $136 million, or 99 cents per share, from $117 million, or 85 cents per share, in the same quarter a year earlier. CEO Laurent Potdevin... More of this article »
Tesla CEO Launches New Brain-Focused Company
Tesla CEO Elon Musk has announced on Twitter that he is starting another company and that more details would be coming “in about a week.” The statement says the company, to be called Neuralink, will work on the development... More of this article »
Darden Restaurants Adds Cheddar’s Scratch Kitchen To Portfolio
Darden Restaurants (NYSE:DRI) has agreed to buy Cheddar’s Scratch Kitchen for $780 million in cash. Cheddar’s sells pasta, sirloin steaks, grilled catfish and baby-back ribs, among other home-style favorites. Darden’s... More of this article »
Dow DuPont Merger Receives EU Approval
Dow Chemical (NYSE:DOW) and DuPont (NYSE:DD) have received approval for their $130 billion merger from the European Union. The approval is a big victory for the companies. The European Union’s approval means the deal will remain... More of this article »
Alaska Air Ending Virgin America Brand
Alaska Air Group (NYSE:ALK) has announced that it would be retiring the Virgin America brand in 2019. Alaska’s vice president of marketing Sangita Woerner said in a statement, “While the Virgin America name is beloved to many,... More of this article »
Exxon Mobil Admits To Losing Subpoenaed Emails
Exxon Mobil (NYSE:XOM) has admitted in Manhattan Supreme Court that it lost a year’s worth of emails from an alias account used by its former CEO during his tenure. Attorney General Eric Schneiderman made accusations earlier this... More of this article »
Potential Merger Between Albertsons And Sprouts In Works
Reports have emerged of a potential merger between grocery giant Albertsons and Sprouts Farmers Markets (NASDAQ:SFM). According to sources that asked to remain anonymous, the discussions are at an early stage and may not lead to a... More of this article »
Wal-Mart Buys Online Retailer ModCloth
Wal-Mart (NYSE:WMT) has purchased online women’s fashion retailer Modcloth for an undisclosed amount, although Wal-Mart did say it was an all-cash acquisition. The deal included both assets and operations. The company announced... More of this article »
McDonald’s Launches Mobile Ordering Beta Test
McDonald’s Corp. (NYSE:MCD) is beta testing mobile ordering at 29 restaurants in Monterey and Salinas, Calif., this week. Next week, the testing will expand to 51 more restaurants in Spokane, Wash. The local pilot tests are designed... More of this article »
New Novartis Breast Cancer Drug Approved By FDA
Swiss drugmaker Novartis AG (NYSE:NVS) has received approval from the U.S. Food and Drug Administration for a new breast cancer drug called Kisqali, known chemically as ribociclib. Novartis developed Kisqali along with Astex Pharmaceuticals,... More of this article »
Google Releases New CAPTCHA Version To Developers
Alphabet’s (NASDAQ:GOOG) Google has released a new version of the CAPTCHA test that will be less intrusive to internet users. The new Invisible reCAPTCHA feature is a free service is designed to protect sites and apps from spam and... More of this article »
American Express Adds More Perks To Platinum Cards
American Express (NYSE:AXP) has announced a number of new perks that will be added to the list for customers holding American Express Platinum cards. All existing benefits will also continue, according to a statement by the company.... More of this article »
Security Breach Costs Yahoo CEO Millions
Yahoo’s (NASDAQ:YHOO) chief executive, Marissa Mayer, has lost her 2016 bonus as a result of the 2014 theft of information from more than 500 million Yahoo accounts. Ms. Mayer said in her statement that she was unaware of the breach... More of this article »
Target To Invest $7B In Upgrades
Target Corp. (NYSE:TGT) has announced plans to invest $7 billion in upgrades to the business over the next three years. Target expects fiscal 2017 and 2018 to be investment years as a result of these initiatives, with the company returning... More of this article »
United Airlines Adding New Routes And Aircraft In Expansion
United Airlines, a unit of United Continental Holdings (NYSE: UAL), has announced a major expansion that includes 4 new cities and 31 new routes. United president Scott Kirby said, “Starting this summer we ‘re offering more... More of this article »
Bitcoin Value Surpasses Previous Peak
The value of Bitcoin is at all-time high, surpassing its previous peak established in November 2013. The digital currency’s value hit $1,206.60 per coin Friday, according to the CoinDesk Bitcoin Price Index. At its prior peak, the... More of this article »
Restaurant Brands International Adding Popeyes To Portfolio
Restaurant Brands International (NYSE:QSR), owner of Burger King and Tim Hortons, has announced that it will be adding Popeyes Louisiana Kitchen (NASDAQ:PLKI) to its portfolio of brands. Restaurant Brands International CEO Daniel Schwartz... More of this article »
Google Takes Steps Against Piracy In The U.K.
Alphabet’s (NASDAQ:GOOG) Google has agreed to demote piracy sites in its search results in the U.K. The company has agreed to a voluntary code of practice with the British Phonographic Industry (BPI) and Motion Picture Association.... More of this article »
Kraft Heinz Bids $143B For Unilever, Is Rebuffed
Kraft Heinz (NASDAQ:KHC) has offered to buy Unilever (NYSE:UL) in a $143 billion deal that would potentially combine some of the world’s best known consumer brands. Unilever said that Kraft Heinz offered to pay $50 a share for the... More of this article »
Kate Spade Seeking Buyer
Kate Spade (NYSE:KATE) is reportedly seeking a buyer for its business. The company confirmed that it is examining “strategic alternatives” for the business. CEO Craig Leavitt stated that the company was “exploring... More of this article »
Time Warner Shareholders Approve AT&T Deal
Time Warner Inc. (NYSE:TWX) shareholders have voted to sell the company to AT&T (NYSE:T) for $85.4-billion. According to a preliminary count of the votes, stockholders representing about 79 percent of the outstanding shares of... More of this article »
Aetna Merger With Humana Canceled
The planned merger between Aetna Inc. (NYSE:AET) and Humana Inc. (NYSE:HUM) has been officially called off. Aetna also terminated its plan to sell some Medicare Advantage assets to Molina Healthcare Inc., which was seen as a way to... More of this article »
Marathon Pharmaceuticals Taking Heat Over Drug Pricing
Marathon Pharmaceuticals has frozen the rollout of muscular dystrophy drug Emflaza, its brand name for deflazacort, after taking significant criticism over its pricing plan for the drug. Emflaza received regulatory approval for U.S.... More of this article »
Honda Partners With Hitachi On Electric Car Venture
Honda Motor Co. (HMC) plans to partner with Hitachi Automotive Systems Ltd., a wholly owned subsidiary of Hitachi Ltd. (HTHIY), in a joint venture to develop, produce and sell motors for electric vehicles. The joint venture, which... More of this article »
Fewer People Signed Up For Affordable Care Act Coverage In 2017
Preliminary enrollment numbers for the Affordable Care Act (ACA) show that fewer people signed up for coverage this year than last year. According to a report released on the figures, 9.2 million people signed up for insurance through... More of this article »
Apple Weighs Legal Options Against President’s Travel Ban
Apple (NASDAQ:AAPL) is reportedly considering joining the legal fight against the Trump administration’s executive order on immigration. The order suspends entry of all refugees to the United States for 120 days. It also blocks citizens... More of this article »
Exxon Mobil Beats Earnings Forecasts
Exxon Mobil (NYSE:XOM) beat forecasts on earnings for the fourth quarter of its fiscal year. Exxon reported a fourth-quarter adjusted profit of 90 cents a share, higher than Wall Street analysts’ estimates of 70 cents a share. In... More of this article »
President Trump Turns Attention To Drug Manufacturing
At a White House meeting surrounded by aides, President Donald Trump talked to eight pharmaceutical company executives about ways to make the American drug manufacturing industry more competitive. The message to the pharmaceutical... More of this article »
Chinese Firm Seeks To Buy MoneyGram
Ant Financial Services Group, the payment affiliate of Chinese e-commerce giant Alibaba Group Holding, wants to buy money-transfer company MoneyGram International (NASDAQ:MGI) and is apparently willing to pay about $880 million for... More of this article »
Aetna Accused Of Falsifying Reasons For Exiting Health Exchanges
U.S. District Judge John Bates issued a 158-page ruling on Monday blocking Aetna’s (NYSE:AET) merger with Humana (NYSE:HUM) due to anti-competitive concerns. The Department of Justice sued to block the merger in July of last... More of this article »
Deal Between Verizon And Yahoo Delayed
Verizon Communications Inc. (NYSE:VZ) has pushed back the expected closing date for its purchase of Yahoo Inc.’s (NASDAQ:YHOO) main business. Verizon cited “work required to meet closing conditions” as the reason for the delayed... More of this article »
EpiPen Rival Coming In February
A competitor to Mylan’s EpiPen is set to return to the market starting in February. The Auvi-Q is an epinephrine auto-injector sold by Virginia-based manufacturer Kaleo. The auto-injection adrenaline system is a lifesaving product... More of this article »
Western Union Reaches Settlement On Fraud Charges
Western Union Co. (NYSE:WU) has reached a settlement with U.S. regulators over charges that the bank failed to stop money laundering and wire fraud. The bank agreed to pay $586 million as part of the settlement. The penalty was imposed... More of this article »
China Moves To Regulate App Stores
The Cyberspace Administration of China says that app stores will now be officially regulated. In a notice posted to its website, the Cyberspace Administration announced mobile app stores will now required to register with its offices.... More of this article »
President-Elect’s Plan For Health Insurance Light On Details
President-elect Donald J. Trump has announced nearing completion on a plan to replace President Obama’s Affordable Care Act. He said that his plan would be unveiled soon after the confirmation of Representative Tom Price, Republican... More of this article »
Wells Fargo Fourth Quarter Income Results Miss Estimates
Wells Fargo & Co. (NYSE:WFC) has released the results for the fourth quarter of its fiscal year. The company reports that net income fell 5.4 percent to $5.27 billion, or 96 cents a share, from $5.58 billion, or $1, a year earlier.... More of this article »
Fiat Chrysler Accused Of Cheating On Emissions Tests
The Environmental Protection Agency has accused Fiat Chrysler (NYSE:FCAU) of cheating on emissions test by using specialized software. The EPA says that the company installed software on certain diesel trucks that allowed them to emit... More of this article »
UnitedHealth Announces Plan To Buy Surgical Care Affiliates
UnitedHealth Group (NYSE:UNH) has announced its intentions to acquire Surgical Care Affiliates (NASDAQ:SCAI), a chain of outpatient surgery centers. UnitedHealth agreed to pay about $2.3 billion for the purchase of Surgical Care Affiliates’... More of this article »
Uber Movement Gives Traffic Data To Cities
Uber has developed a new website called Movement that will give cities access to the company’s traffic flow data. The new Movement website is intended for use by those interested in improving urban mobility. In a blog post written... More of this article »
Mars Inc. Purchasing VCA Inc. For $7.7 Billion
Mars Inc. has agreed to acquire veterinary services company VCA Inc. (NASDAQ:WOOF) for $7.7 billion, or $93 a share, in an all-cash transaction. Including debt, the deal is valued at $9.1 billion. The statement from the companies said... More of this article »
T-Mobile Launches New Initiatives That Benefit Customers
T-Mobile (NYSE:PCS) is continuing on its path to disrupt the wireless industry. The company recently announced a number of new initiatives that are designed to increase transparency and make things easier for their customers. Beginning... More of this article »
Gates Foundation Making Big Investment In HIV Prevention
A tiny implantable drug pump designed to prevent infection by the human immunodeficiency virus (HIV) is getting a big boost from the Bill and Melinda Gates Foundation. The Gates Foundation is investing $140 million to help Intarcia... More of this article »