Latest News

Norwegian Air: One-Way Fares Between U.S. and Europe for $65

On Thursday, Norwegian Air Shuttle said it plans to offer 10 new transatlantic flights between the U.S. and Europe with one-way ticket prices of $65, which will put huge pressure on its U.S. as well as European rivals. The Europe based airline is growing its flight network to include the U.S. beginning mid-June after it […]

Well Fargo Denies Bonuses, Fires Managers

Well Fargo & Co has fired the consumer credit card business chief as well as three other members of senior management as its board of directors investigates how its abusive sales practices spread across its branches prior becoming a national scandal in 2016. The former regional president in Los Angeles, Shelley Freeman, who then ran […]

Alibaba Enters Further into Retail With Supermarket Group

Alibaba Group Holding will team up with one of the largest chains of department stores and supermarkets, Bailian Group, as founder Jack Ma speeds up his effort to use technology to shake up the retail industry. Alibaba plans to help upgrade some of the 4,700 stores owned by Bailian across China, integrating things from payment […]

Following Arrest of Samsung’s Jay Lee, Mentor Seen as Stepping Up

The arrest of Jay Y. Lee the scion of the Samsung Group on charges of bribery could slow down decisions on strategic acquisitions and investments at the conglomerate, said insiders, even with many of its businesses under strong leadership. Although business is well at Samsung Electronics, the flagship company, big calls must be made and […]

Berkshire Hathaway Buys More Apple and Airline Stocks

Berkshire Hathaway owned and operated by billionaire investor Warren Buffett aggressively purchased stocks during the fourth quarter of 2016 as it close to quadrupled its stake in tech giant Apple and increased stakes by sevenfold in four of the largest airlines in the U.S. In a filing with regulators, Berkshire posted ownership of 57.3 million […]

Unlimited Wireless Data Plan Finally to be Offered by Verizon

The wireless price war has finally become real. Verizon has introduced its own unlimited data plan that starts at $80 monthly, as the huge carrier has finally joined its competitors in shifting from monthly allowances of data, one of the most hated practices in the industry. Smaller rivals T-Mobile and Sprint introduced slightly less expensive […]

IEA: OPEC Maintains Cuts in Production

OPEC has reached its best rate of compliance in its history at the start of the cartel’s accord to end the oil glut, which is a plan that has been supported by strength in demand that surprised many said the International Energy Agency (IEA). OPEC implemented 90% of the promised cuts in output during January, […]

Maersk Drops After Posting Second Loss in Decades

A.P. Moller-Maersk A/S lost money unexpectedly during 2016 as the biggest company in Denmark wrote down energy asset values it holds and is planning to spin off. Shares of Maersk dropped by as much as 7.1% as the conglomerate based in Copenhagen posted a net loss for 2016 of more than $1.94 billion. Wall Street […]

Tiffany Posts Disappointing Results, CEO Steps Down

CEO Frederic Cumenal at Tiffany announced on Sunday he was stepping down amidst the continued struggles by the luxury jewelry brands with disappointing quarterly results including holiday sales that were lower than had been expected. The announcement by the company of its shakeup in management said that Michael Kowalski its chairman of the board who […]

Williams Approved for Pipeline for Shale Gas

Williams Cos has won approval from the U.S. to construct its Atlantic Sunrise $3 billion natural gas pipeline in the Northeast, which ends a review that lasted close to two years and causes numerous delays in its project. The pipeline of 200 miles will expand the shipments from shale formations in an amount to serve […]

Under Armour Comes Up Short in Sales and Earnings

The long streak at Under Armour of outstanding sales gains ended during the holiday shopping season quarter, as the sports apparel maker posted its results on Tuesday that sent its stock plunging 26%. The athletic apparel maker based in Baltimore blamed a holiday season it called sluggish, a shift in retail landscape and miscalculations in […]

Volkswagen Becomes Leader of Global Auto Sales

Volkswagen has taken the top spot as the bestselling automaker in the world for just the first time. The Germany-based automaker was propelled to the top spot thanks to a surge in demand across China, which for the most part was not affected by the company’s diesel-engine cheating scandal. VW vehicle sales reached 10.3 million […]

Starbucks Posts Softer Sales

Starbucks, the huge chain of coffeehouses, was not able to fully escape the persistent malaise hitting the restaurant industry. For a number of months, the industry’s outlook has been bearish. Higher prices due to increased costs of labor and other types of expenses have led to a large number of consumers to eat and drink […]

Hyundai Motors Posts Lower Profit on Weak Sales

On Wednesday, South Korea based Hyundai Motor Co posted a drop of 39% in income for the fourth quarter, which was its lowest in the past seven years, hit hard by weaker demand at home and in the U.S. and higher overall costs from sale incentives and strikes. The automaker announced that its net profit […]

Foxconn Considering Display Factory in U.S. for $7 Billion

Foxconn, the manufacturing giant based in China is considering an investment of $7 billion for the construction of a new plant in the United States for assembling of flat panel screens. Two reports from international newspapers said that chairman of Foxconn Terry Gou spoke about the plans this past week speculating that the plant would […]

IBM Earnings Beat the Street for the Fourth Quarter

Although International Business Machines posted earnings that beat expectations during the fourth quarter, a slight upswing in trading afterhours gave way quickly to a big drop in its share price. IBM posted non-GAAP per share earnings of $5.02 in comparison to estimates by analysts of $4.89. Revenue during the quarter ended at $21.77 billion, which […]

Report: Chuck E. Cheese Going Public

Chuck E. Cheese touts itself as being a place where kids can be kids. However, very shortly it may also be where investors in restaurants park some of their cash. A report just released indicates that the pizza place that focuses on kids with its arcade center is considering a re-entrance into the public market. […]

Food Stamps to Be Accepted by Amazon

Foods stamps will soon go the route of high-tech, and it could cause quite a stir in the grocery industry. The Department of Agriculture in the U.S. is testing a new pilot program that will allow 7 online grocery stores to accept payment using food stamps, including Amazon.com the online retailing behemoth. This two-year test […]

SpiceJet Eyeing Expansion in India Buys 100 Boeing Planes

India budget air carrier SpiceJet announced Friday that it agreed to purchase 100 new Boeing MAX 737 planes with the option to purchase an additional 50, as part of the expansion plans it has in the fastest growing aviation market worldwide. The deal gives a welcome boost to Boeing in the second most populous country […]

Scandal in South Korea: Samsung Chief Added to List of Suspects

Samsung’s Lee Jae-yong the heir apparent at the electronics giant will be interviewed in the ongoing corruption scandal investigation as a suspect. The scandal has already caused the impeachment of the country’s president. Samsung is accused of donating to non-profit foundations that were operated by a confidante of South Korea President Park Guen-hye. The donations […]

Fiat Chrysler Building Three New Jeeps in U.S.

Fiat Chrysler announced that it was investing over $1 billion in two different factories that will add over 2,000 jobs. The automaker is also adding three new Jeep models including a pickup. The investment furthers the automakers effort of increasing its production of popular SUVs and pickups and shift from making small and midsize vehicles. […]

Sears Selling Craftsman for Much Needed Cash

On Thursday, Sears agreed to sell its Craftsman division to Stanley Black & Decker for much needed cash. The sale by Sears of Craftsman, which was valued at over $775 million, was to help prevent the filing of bankruptcy by raising cash. For Sears, the sale of one of its most classic brands is the […]

Carpool Services from Uber and Lyft Could Lower Traffic 75%

Uber and competitor Lyft had promised for years to relieve the world of traffic jams. A study has just been released that suggests that might actually be possible. Carpool services like Lyft Line and UberPool could lower the total number of vehicles using the road by as much as 75% indicates findings released this week […]

Approvals for New Drugs Drop to Low of Six Years

Last year was disappointing for new drug approvals as the United States Food and Drug Administration cleared only 22 new medications to be sold, the lowest number for the past six years and a sharp decrease from the 45 approved in 2015. The European Medicines Agency approved 81 new products that require prescriptions against 93 […]

iPhone Production Not Coming to the U.S. Anytime Soon

There is a great deal that goes into making an iPhone from the time individual components are assembled until the final product ends up on the retail shelf to be sold. Close to half of the more than 200 million iPhones that are made every year are from a central China Foxconn facility. The employees […]

Amazon Announces Best Ever Holiday Season

Amazon’s holiday season has been very lucrative thus far, after the online e-commerce behemoth said it shipped over 1 billion products and there is still more to come. According to data released by the company, the smart speakers line Amazon Echo has had sales in the million at a rate that is 9 times greater […]

Amazon Receives Demand to Remove Merchandise Related to Black Lives Matter

The largest U.S. police union has demanded that online e-commerce giant Amazon remove a third party vendor shirt that supports the movement Black Lives Matter. The union – Fraternal Order of Police – demanded that the online retailer follow the lead of Walmart and remove the shirt that has the phrase – Bulletproof: Black Lives […]

Oprah Loses Weight, Weight Watchers Stock Soars

Weight Watchers International stock was given another big boost thanks to the Oprah Winfrey’s weight falling. Winfrey is a big backer of the company and its most famous client. Shares of the stock were up over 19% after an announcement was made by Winfrey that she lost 40 pounds by using the company’s program. The […]

Olive Garden Helps Lift Profits at Darden Restaurants

Orders to-go boosted sales for Olive Garden restaurants and its parent Darden Restaurants during its fiscal second quarter. Take out as well as catering orders at Olive Garden increased by 21% from September through November in comparison to the same three-month period last year. Those figures, part of the quarterly earnings for Darden on Tuesday, […]

Volkswagen Closing in on Deadline

Volkswagen the Germany-based automaker is nearing a deadline to present to a San Francisco federal judge whether or not it reached a deal with regulators in the U.S. and the attorney for owners of vehicles of the more than 80,000 vehicles that remain in the emissions scandal. The deadline is Monday December 19. VW must […]

DeVry University to Pay Settlement of $100 Million to FTC

DeVry University and the parent company that owns it, agreed to pay a settlement of $100 million for allegations that they misled potential students over job-hiring rates of success and future income following graduation, said a federal regulator on Thursday. The settlement with the Federal Trade Commission will resolve tentatively a lawsuit from January that […]

Female Tech Executives Meeting Wednesday With Trump

When Safra Catz the co-CEO of Oracle meets on Wednesday in Manhattan with president-elect Donald Trump, she will offer support and will make suggestions on how Trump can strengthen the technology industry in the U.S. Catz said she is planning to tell Trump that the tech industry is with him and willing to help any […]

Over Four Million Toys Seized by Venezuelan Authorities

Bicycles, play sets, dolls and other toys were amongst the close to 4 million toys seized by the government of Venezuela. The toys are now going to be sold at steep discounts after a government regulator said a big toy distributor hoarded the 4 million toys in an attempt to increase the price. Girls and […]

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 […]