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Owner of Burger King and Tim Hortons Beats on Profit

Restaurant Brands International, the owner of both Burger King and Tim Hortons, posted a quarterly profit that was better than had been expected driven by lower costs and new items on their menus. Complete comparable sales at Burger King were up 1.7% during the quarter ended September 30, for the most part because of more […]

Mercedes-Benz Profits Help Daimler Offset Truck Slump

Daimler’s operating profit for the third quarter was up by 23%. The higher earnings received from passenger cars was able to offset the drop in demand for its trucks, helping the vehicle makers to keep its most recent forecast for a higher profit for the full year. Earnings before interest and tax or EBIT, adjusted […]

Halliburton Posts Profit as Exploration Back on Track

Halliburton Co was able to swing to a profit during the third quarter as the second largest company specializing in oil services in the world increased business from oil producers that are ramping up operations following the worst crash in the crude market in more than a generation. After calling that the oil cycle had […]

Earnings at Bank of America Beat Both Top and Bottom Lines

Bank of America posted earnings on Monday for the third quarter that beat expectations on both its top and bottom line. This was the first increase in profit in the past three quarter and was helped by strong revenue from bond trading. Shares of the bank were up in premarket trading by over 1.5% following […]

Investor in Xerox Suing to Stop Split Up of Company

A major shareholder of Xerox filed a lawsuit meant to block the business process outsourcing and printing giant from splitting into two individual publicly traded businesses. Darwin Deason a billionaire filed the suit earlier in the week at a Dallas U.S. District Court claiming Xerox would destroy the value of his shares in the business […]

Suzuki and Toyota Exploring Partnership Possibilities

Toyota Motor Corporation in Japan and Suzuki Motor Corporation the mini-vehicle maker said they are planning to explore the possibility of entering into a partnership. The two carmakers cited technological challenges as well as the need for keeping pace with increasing consolidation across the global auto industry. This announcement has come after Toyota closed on […]

Mexican Peso Increases Following Debate, Pound Drops

On Monday, sterling was down again, after paring its losses from the flash crash of Friday. The Mexican Peso and stock futures in the U.S. rose as investors see less of a chance that Donald Trump the GOP presidential nominee will win the November election. The pound dropped by one half percent versus the U.S. […]

Mars Buying Buffet’s Complete Wrigley Stake

On Thursday, Mars Inc the candy maker announced it would take 100% control of its chewing gum company Wrigley, through acquiring a minority stake that Berkshire Hathaway Inc the company operated by Warren Buffett. Mars is planning to combine the Wrigley business with its chocolate business that will put Snickers, M&Ms, Starburst, Extra and Doublemint […]

Tech Giants Did Not Carry Out Yahoo Type of Spying

Reports that have come to light of a secret program of Yahoo to search the incoming emails of customers have provoked other tech giants to deny receiving requests of a similar nature from the U.S. government. The program was created in 2015 through an order from the government that was classified and involves Yahoo searching […]

Consortium from Bass Pro Shops Looks to Acquire Cabela

Sources say that a Bass Pro Shops consortium, that includes the equity arm of Goldman Sachs and Capital One Financial Corporation is the front runner to acquire Cabela’s Inc the retailer based in the U.S. specializing in outdoor gear, according to people who are close to this matter. This deal would bring together two of […]

Nike Orders Fall Short of Estimates, Slowdown Concerns Arise

Nike Inc posted its futures orders that came up short of analyst expectations. That helped to renew concerns that the athletic apparel and sneakers maker cannot maintain strong growth due to increasing competition. The future orders, a key metric for the amount of demand for the Nike brand, increased by only 1% across North America […]

Pfizer Ends Plan To Split

On Monday, Pfizer the U.S. based drug maker announced that it had made the decision not to split into two companies that would have been publicly traded through separating its patent protected medicines that are branded with its low growth generics. Instead, the pharmaceutical giant, with the two being operated separately within Pfizer, the company […]

Marriott Acquires Starwood to Form Largest Hotel Chain in World

Marriott International on Friday morning closed on its acquisition for $13 billion of Starwood Hotels & Resorts, which brings together its Marriott, Ritz Carlton and Courtyard brands with Westin, W, St. Regis and Sheraton from Starwood. In all, 30 different hotel brands will now be under just the Marriott umbrella creating the largest chain of […]

Google Launches Allo at Last

Google made a promise that it would release both Duo and Allo its new video calling and chat apps during this past summer. Duo was released over a month ago. However, Allo is hardly coming in under the time deadline of the first day of fall. Allo has now become live, and it gives a […]

Samsung Recall of Note 7 Enters Exchange Phase

On Monday, Samsung started its exchange program for the Galaxy Note 7, giving owners of the smartphone in South Korea its back yard, the opportunity to replace their devices that are prone to start on fire. This is the latest phase of its costly recall, said the largest maker of smartphones in the world, which […]

Unilever Discussing Acquisition of Jessica Alba’s Honest Company

Unilever currently is having talks with Honest Co. to acquire the retailer of consumer products that was co-founded by Jessica Alba the Hollywood actress said people close to the situation. Unilever, which is the maker of Axe body spray and Dove soaps, is negotiating a deal that could be valued at more than $1 billion […]

Uber Launches Autonomous Cars in Pittsburgh

On Wednesday, in Pittsburgh some residents will wake up with new choices. These residents will have the opportunity of using an Uber car that drives itself. The debut of the self-driving Uber pilot program is the public unveiling of Uber’s secretive work in the autonomous vehicle spectrum and the first time cars that are self-driving […]

HP Inc Acquiring Printing Business of Samsung

HP Inc is now slightly larger. The PC and printing behemoth announced on Monday that it would acquire the printing business owned by Samsung for approximately $1.05 billion. HP is it inherit more than 6,000 employees when the deal is closed, which the company expects will be within the next 12 months, said Enrique Lores […]

World Governments Finally Vote To End Domestic Ivory Trade

World government officials met at a recent conservation conference in Hawaii to discuss the ending of the international ivory trade. The officials conducted quite a fierce debate at the Conservation of Nature World Congress, a 10-meeting of 9,000 people, in Honolulu, HI, earlier this month. It took the entire 10 days and, after heavy opposition […]

MasterCard Sued in Britain for £14 Billion in Damages Claim

As many as 46 million people across Britain could possibly benefit from a lawsuit brought against credit card processing giant MasterCard that demands £14 billion or $19 billion worth of damages. The suit alleges that excessive fees were charged shows court documents that were filed in a London court. The case was filed by a […]

Volkswagen Negotiating in China to Manufacture Electric Cars

Volkswagen AG has begun exploring the possibility of a joint venture in China to manufacture electric cars with a company that is state-run, part of the carmaker’s aggressive push into the production of electric vehicles, as the automaker tries to resolve the scandal over its emissions cheating. The carmaker based in Germany signed with China […]

Smith & Wesson Sales Keep Soaring, Stock Down

Despite posting a very good first quarter, Smith & Wesson shares did not sho0t upward like many expected. The stock took an initial bounce of 5%, but then came back 5% form that level, as one analyst downgraded it and that weighed on overall sentiment. Overall, the stock during the last year has increased by […]

Hillary Clinton Announces Program to Stop Price Gouging

Democratic presidential nominee Hillary Clinton has criticized a number of pharmaceutical companies that increase prices of older drugs to increase their profit margins. She called the price hikes of the EpiPen outrageous and has accused Martin Shkreli the embattled pharma executive of price gouging on a anti-parasitic drug that is decades old. On Friday, Clinton’s […]

Theranos Stops Test for Zika Following Inspection by FDA

The request by Theranos Inc for emergency clearance of a blood test for the Zika virus was withdrawn by the company after the U.S. Food and Drug Administration found that Theranos did not include patient safeguards in its study for the new test, indicated people who are familiar with the situation. This move is yet […]

China Will Now Build Aircraft Engines for the Industry

Aero Engine Corp of China or AECC is the new company in China that will carry out research, development and the manufacturing of gas turbines and aircraft engines, according to state media in China. The company was registered with 50 billion yuan or approximately $7.5 billion in capital and already has over 96,000 employees. This […]

WhatsApp Will Start Sharing User Information

WhatsApp the messaging service that is now worldwide said it would begin sharing phone numbers of its users with its parent company Facebook. That move means that WhatsApp user will likely start seeing targeted ads soon along with friend suggestions from Facebook, although they will appear on Facebook and not on the actual messaging service. […]

Tesla Unveils New Faster Accelerating Vehicles with Longer Battery Range

The new Tesla battery pack is about going long distances, and about driving faster than any car that has been mass produced has gone before. Tesla announced its new version of is sedan the Model S and its crossover Model X, with a much longer battery range and significantly faster acceleration. The electric carmaker claims […]

Pfizer Agrees to $14 Billion Price for Medivation

Pfizer Inc announced on Monday that it had agreed to purchase Medivation Inc a biotech firm for a per share price of $81.50 that values the company at close to $14 billion. The acquisition will add to the portfolio of Pfizer one of the top sellers in the cancer drugs market. News of this impending […]

CEO at Viacom Ousted, Redstones Reassert Power

Sumner Redstone along with Shari his daughter reasserted control on Thursday of Viacom resolving the crisis that has gripped the media conglomerate by arranging for the exit of their renegade CEO, president and chairman Philippe Dauman in exchange for a payout of $72 million. The holding company of the Redstones’ National Amusements, gave its approval […]

Univision Buys Gawker for $135 Million

Univision the Spanish-language broadcaster was the winner of a Tuesday auction for Gawker Media. Gawker was put up on the auction block following the $140 million judgment it had placed against it in the invasion of privacy case Hulk Hogan brought against it. Univision will pay just $135 million for the online news and gossip […]

Japan’s Economy Slows During Second Quarter

The economic growth in Japan came to a screeching halt during the April through June quarter as shaky demand domestically and weak exports prompted businesses to lower their spending, putting new pressure on the country’s Premier, Shinzo Abe to find policies that would produce additional sustainable growth. The weak economic reading underscores challenges policymakers are […]

Kohl’s, Macy’s and Nordstrom’s Earnings Reports Give Positive Signs

Three of the major retailers in the U.S. announced their sales and earnings for the second quarter, which showed some improvements over those of the first quarter. At the same time, sales were less but there was more momentum providing an outlook that was more encouraging for the remainder of 2016. Initiatives likely to help […]

Coach Sales Increase As Turnaround Continues

Coach Inc announced strong demand for handbags that were higher priced at its brand name retail stores and said the company would cut its business with different department stores in an attempt to wean its customers in the fashion industry from discounts. Sales at the maker of handbags in existing stores in North America grew […]

Steinoff Acquires Mattress Firm in U.S.

Steinhoff International Holdings’ acquisitions continued as the retailer from South Africa announced it was buying Mattress Firm Holdings for $2.4 billion. The deal brings the company into the United States for just the first, with close to 25% of the retail market in the country for specialty mattresses, said a research firm in Europe. The […]

Shares of FireEye Plunge, Layoffs Planned, Forecasts Cut

FireEye the firm specializing in cyber security announced Thursday that it was planning layoffs of up to 400 workers of its 3,400 workforce. This came as the company announced sales for the most recent quarter below its forecast because of a slowdown in the demand for services it provides businesses in response to hacking attacks. […]

CEO at Teva Looking for More Growth

Teva Pharmaceutical Industries purchase of $40.5 billion for the Allergan generics unit that closed on Tuesday does not signal the drug maker based in Israel is letting up in a quest for more innovative branded medications. Efforts to put new copycat drugs as well as integrate operations through it largest ever acquisition does not mean […]

Chinese Company Acquires Game Maker Based in Israel for $4.4 Billion

A consortium from China that includes Giant Interactive a game company based in China and Jack Ma’s private equity company has spent $4.4 billion to acquire Playtika, a maker of social and mobile casino games based in Israel. Playtika currently a Caesars Interactive Entertainment subsidiary has made games like Slotomania, Bingo Blitz and House of […]

Amazon Posts Quarterly Results That Are Impressive

Amazon announced its profit for the quarter was another record, with nearly double profit margins and posting five consecutive quarters with a profit. Revenue at Amazon was up 31% with 58% coming from its Amazon Web Services segment. The e-commerce giant, which used to carry profit margins that were razor thin, managed to nearly double […]

Profits Climb at Hilton, Company Lowers Projections

Global hotel chain Hilton Worldwide Holdings posted profit that was up 48% during their most recent quarter, but it lowered its outlook for earnings for the full year amidst a mediocre performance in one of its important industry metrics. The company now sees its earnings for the full year between 87 cents and 91 cents […]

Sprint Adds 173,000 Subscribers But Loss Widens

On Monday, Sprint Corp posted a loss that widened in its most recent quarter, although its revenue dropped less than had been expected Shares, which have increased 22% during the last three months, gained another 5.7% in Monday premarket trading. The wireless carrier based in the U.S. and owned by Japan-based SoftBank, added 173,000 net […]

Amazon Offering Student Loans at Discounts to Prime Members

Amazon has been nicknamed the Everything Store and for good reason. On Thursday, the giant in e-commerce and Wells Fargo the San Francisco based bank announced they have partnered to supply customers of Amazon with student loans. The bank will be giving an interest rate discount for new loans of 0.5% to students who are […]

Profit at United Beats Estimates on Cost Cuts

United Continental Holdings posted profit for its second quarter that exceeded estimates made by analysts as lower operating and fuel costs offset weaker fares. Adjusted earnings per share of $2.61 beat estimates of $2.56 per share. United announced that it is planning to cut growth for this year and sees capacity for the full-year increasing […]

Brits Rushing to Apply for European Union Passports

Thousands of Britons are worried about losing access to the rest of the European Union and therefore are standing in long lines hoping get their EU passports from other countries that are in the 28-nation bloc. Embassy and consulate offices for Italy, Germany, Sweden, Hungary and Poland all have reported a surge in the interest […]

Pokémon Go, Going Global as Game Launches in More Countries

Pokémon Go already is a phenomenon as it has captured the attention of millions and millions while adding billions to the market value of Nintendo. However, the game remains limited to just a few countries. There is good news however for all those waiting to play it, with word that plans for global expansion are […]

Airbus to Cut Production of Super Jumbo A380

Airbus will slash the production of its aircraft A380 after the company struggled to find more new customers. On Wednesday, the company announced that it would build just 20 of its A380 twin-decks in 2017 and just 12 annually starting in 2018. That number is down from its delivery of 27 during 2015. Airbus has […]

Nintendo Stock Jumps 25% Thanks to Pokemon Go

Nintendo shares surged in Japan on Monday on the hopes that its new app Pokemon Go would give the businesses’ mobile gaming division a big boost. The company’s stock ended the day in Japan up over 24.5% following gains of almost 9% on Friday. The company has seen an increase of almost $7.5 billion in […]

Viacom Continues to Work on Selling Paramount Pictures Stake

Viacom Inc has urged a judge to expedite Delaware legal proceedings due to the fragile health of Sumner Redstone the media mogul as well as because more delay could hurt the efforts of the company to raise money through selling its Paramount Pictures stake. The controversial 49% stake sale in the movie studio is the […]

Delta Loses Bet of $450 Million on Price of Fuel

Delta Air Lines will suffer a loss of $450 million because the price of jet fuel did not increase the amount the airline had bet it would. The airline, based in Atlanta, locked in purchases of fuel in a contract referred to as a hedge. The levels were above the market value betting that the […]

Libor Case: Former Traders with Barclays Found Guilty

Three former traders with Barclays Plc were declared guilty of manipulation of Libor rates nearly four years after the bank paid hundreds of millions in fines for the fixing of the benchmark rates behind over $350 trillion of securities. Late last week, Alex Pabon who is 38, Jay Merchant who is 45 and Jonathan Mathew […]

July 4 Holiday Weekend Will Have Huge Travel Figures

The combination of low prices of gasoline and the July 4 being on Monday will turn this three-day holiday weekend into a huge traveling bonanza. Gas prices are currently at their lowest levels for July 4 in the past 11 years and travel experts are predicting that over 43 million people will travel during the […]