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Macau: Concern Over Crackdown Sends Shares at Casinos Falling

The largest gambling hub in the world, Macau moved Friday to clarify it did not tightened the daily withdrawals limits of cash for gamblers from China, after fears of a big crackdown on illicit outflows of money sent shares tumbling for casino operators. An English language newspaper in China citing a source in the finance […]

Chief at SoftBank Meets with Donald Trump, Fuels Hope for Megadeal

Softbank Group CEO Masayoshi Son held a meeting with President-elect Donald Trump that has raised the hopes the company could revive its megadeal in the mobile-phone market in the U.S. SoftBank is already the owner of the majority of Sprint Corp a wireless carrier based in the U.S. and a number of years ago pursued […]

Panasonic Discussing Takeover of ZKW to Push Further into Auto Electronics

Panasonic Corp based in Japan is holding talks with ZKW Group a maker of automotive lighting based in Europe, said someone familiar with this matter. The deal is said to be worth as much as $1 billion and both companies could come to an agreement within the month, said a business newspaper on Monday. Panasonic […]

Starbucks CEO to Step Down

Starbucks CEO and Chairman Howard Schultz announced on Thursday he would step down from his post of CEO. He said he would hand those responsibilities over to current COO and president at Starbucks Kevin Johnson. The news has come as a surprise to investors as the shares fell by as much as 10% following the […]

Kellogg Removing Its Ads from Breitbart

Kellogg, the food maker that is the owner of brands such as Pop-Tarts, and Pringles, confirmed this week that it would no longer run advertising on the controversial online site Breitbart.com. The site is a far-right commentary and news site that was run formerly by Steven Bannon who has been chosen to be a top […]

Russia and Iran Could Cause Problems for Oil Deal in OPEC

Russia and Iran emerged as the potential deal breakers in the cutting of worldwide oil production, as OPEC or the Organization of Petroleum Exporting Countries engage in diplomacy prior to their meeting scheduled for Wednesday in Vienna. OPEC in September agreed to cut production to lower the oversupply globally of oil but left out the […]

Retailers Vying for Black Friday Sales

Large discounts were dangled in front of consumers by retailers to start Black Friday at stores early Friday morning after being offered online Thursday. A high stakes battle between brick and mortar retailers and Amazon.com and other online retailers is taking place as all are trying to get their piece of the holiday shopping season […]

Authorities Raid Pension Fund at Samsung

Prosecutors in a South Korea investigation surrounding a corruption scandal of the president and her close friend raided a pension fund of Samsung the largest business group in the country Wednesday as public outrage increases over the alleged link of Samsung to the scandal. An official with the prosecutor’s office has said that investigators entered […]

Prices of Metals Climb as Free Trade Zone Backed by China

On Monday, prices of metal rallied despite the dollar strengthening as the president of China pledged to give support to an area of free trade in the region of Asia-Pacific that boosted the optimism over demand in China. Typically, when there is a strong U.S. dollar is weighs down prices of metals due to it […]

Strong U.S. Dollar Makes for Weaker Airlines in China

President-elect Donald Trump could be making it harder for Chinese airlines to fly. Trump rose to power thanks to his protectionist platform that threatened to place huge tariffs on different goods that were imported from China. Those policies would in turn hurt global airlines and even prior to any break out of a trade war […]

Parent of Snapchat Filing for IPO That Could Reach $25 Billion

Snap Inc, has field confidentially for an initial public offering valuing the popular platform specializing in time sensitive messages at as high as $25 billion. This is a huge step toward the highest profile debut on the stock exchange in the past few years. The company, known formerly as Snapchat, filed for its IPO with […]

Samsung to Acquire Car Tech Company Harman

Samsung Electronics released a statement on Monday saying it would acquire Harman International Industries for $8 billion marking a huge push into the market of auto electronics and the largest acquisition overseas ever by a company in South Korea. The consumer electronics giant had previously shied away from large acquisitions, but this deal underscores a […]

Founder of Facebook Amongst Users Declared Dead

On Friday, a number of Facebook users including Mark Zuckerberg the social media giant’s founder, were declared dead on the site. After the problem had been fixed, the company acknowledged that they committed a terrible error. During just a brief time on Friday a message that was meant for memorializing profiles had been posted by […]

Siemens Will Spin Off Its Health Unit

Siemens AG made an announcement that it plans to spin off its healthcare division with a value of $15 billion to help boost investments in one of its units that is most successful, in one of the largest portfolio revamps at the engineering giant based in Germany that narrows the company focus on factory gear, […]

Tesco Bank Has Cash Stolen from 20,000 Accounts, Freezes Transactions

Tesco Bank froze online transactions following fraudulent activity that affected thousands of customers and has pledged to refund clients whose money was taken over this past weekend from their accounts. The CEO of the banking arm of the supermarket chain, Benny Higgins said the decision was taken to stop all online transactions in an attempt […]

Another 161,000 New Jobs Added to U.S. Payrolls During October

Hiring by employers across the U.S. held steady during October as the rate of unemployment edged downward and growth in wages accelerated to its strongest rate since the end of the recession. This signals a solid momentum in the U.S. labor market only days prior to the voters across the nation electing their next president. […]

Alibaba Defies Slowdown in China with Strong Earnings

Amidst concerns over the growth slowdown in the Chinese economy, the largest e-commerce company in the country showed that at least now business on its many platforms has held steady. On Wednesday, the Alibaba Group announced that revenue for the three-month period through September 30 had grown strongly, as the many brands and small vendors […]

UPS Expecting Record Deliveries During Holiday Season

United Parcel Services on Thursday announced that it is expecting another holiday season with record breaking deliveries in 2016, but said a pension charge could hit its results for the fourth quarter. UPS predicted that it would have volumes of over 700 million packages from Thanksgiving Day to New Year’s Eve, which would be up […]

Profit at Hyundai Motors Plunges to New Record Low

Quarterly net profit at Hyundai Motors tumbled to a new low of over four years due to an extended strike at home as well as weakness in its emerging markets. The automaker warned it might miss sales targets for the second consecutive year. Falling short of estimates, the quarterly results arrive only a day after […]

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 […]