Archive for Gary James

Jimmy Choo and Bally Up Put on Sale by JAB

Investment company JAB has put shoemakers Bally International AG and Jimmy Choo Plc on sales, to focus on its expanding coffee and food operations and looking to benefit from the rebound in sales of the luxury footwear and accessories industry. On Monday, JAB Luxury GmbH, which is part of the Reimann family investment arm, said […]

Store Count at SUBWAY Contracts for First Time Ever

For just the first time since the first Subway opened, more U.S. stores were closed than were opened the prior year. The worldwide sandwich shop has bragged for years that there were more Subways around the world than any other chain of restaurants. However, during 2016, the sandwich chain shuttered more stores than were opened, […]

Profit for First Quarter Up 40% at Bank of America

Bank of America CEO Brian Moynihan was optimistic on Monday. He said the economy in the U.S. continued to show optimism by both consumers and business owners and the results for the most recently ended quarter reflect that. In addition, the bank added 550 employees during its first quarter, which is the first net employee […]

Couple on Way to Their Wedding Kicked Off Flight by United

A bride and groom headed to their wedding in Costa Rica said over the weekend they had been booted off their flight by United Airlines in Houston after there was a discrepancy with the flight’s seating. Michael Hohl and Amber Maxwell, his fiancé were flying to Costa Rica from Salt Lake City but had a […]

Yext Becomes Newest Tech Company Worth $1 Billion

Howard Lerman is the Yext CEO. The 37-year old leads the company that made one of the largest public debuts ever for a New York City born startup. Yext stock began trading Thursday on the New York Stock Exchange surging by 22%. The tech company now has a worth of more than $1 billion. Lerman […]

Order at Home, Pick Up at Store Equals Discount at Walmart

Fighting to close the gap with Amazon and other e-commerce sites, Walmart announced on Wednesday it would begin offering discounts on thousands of its items that are ordered online, if those ordering them will then head to their nearest store and pick the order up. During a time when traditional brick and mortar stores are […]

Flipkart Funding Round Raises over $1.4 Billion

After a number of months of rumors, Flipkart, the India based e-commerce giant confirmed it raised new funding of $1.4 billion at a valuation of more than $11.6 billion to battle with both Alibaba and Amazon. This deal included some big names in the investor world including Tencent from China, Microsoft and eBay, which join […]

Oil Reaches High of One Month after U.S Missile Strikes

On Friday, oil prices reached a high of one month after the U.S. attacked a Syrian airbase that helped send shockwaves throughout global markets and increased concerns over the conflict spreading in the region rich in oil. The toughest action yet by the U.S. in the six-year civil war in Syria ramped up the geopolitical […]

AOL and Yahoo Join Forces Under Verizon’s Oath

A new Internet brand is now available that is taking over old ones or at least they are old when it comes to Internet. AOL and Yahoo are now part of Oath that is owned by Verizon and the new brand has sparked a number of jokes on Twitter and other social media sites. One […]

Shares of Imagination Tech Plummet as It’s Abandoned by Apple

Imagination Tech stock crashed on Monday by over 70% after the company, based in Britain, announced its largest customer Apple Inc., would no longer use its graphics technology in iPads, iPhones or Apple Watches. Apple, which Imagination said represents close to half its overall revenue, notified the company it has been developing graphics chips of […]

Walmart and Apple Keep Pledges for Climate Control

Many of the largest corporations in the United States including Walmart and Apple will stick to the pledges they made to fight against climate change even though President Donald Trump is gutting the environmental policies of his predecessor. Companies say promises they made, coordinated with the previous White House administration, reflect pushes they have made […]

Sales of Craft Beer Up, Growth Rate Slows

The number of breweries in the U.S. continued expanding during 2016, even as the growth in sales at independently owned, smaller craft breweries began to slow during what insiders in the industry acknowledge is a challenging time. A new record number of breweries, 5,301 of which 99% are defined as being craft breweries, were operating […]

Dow-DuPont Merger Wins Conditional Approval for Antitrust

DuPont Co and Dow Chemical Co won approval from regulators in the European Union for a merger of $77 billion, overcoming the regulators’ concerns of hefty concessions that included the sale of large chunks of the global pesticide business of DuPont. The takeover, which was first announced one year ago, is the first to win […]

Twitter Exploring Subscription Option

Twitter Inc is now considering if it should add a premium version to the popular tweet interface aimed at professionals, said the company on Thursday. That raised the possibility it could collect fees for subscriptions from some of its users for just the first time since its launch. Like most of the other companies in […]

Airbnb Tripling Presence in China Focusing on Chinese Traveler

Airbnb will double down in the rapidly expanding travel sector in China using a new name, expanding its trips service and hiring additional aid for those speaking Mandarin. The new name Airbnb will have in China is Aibiying said the company on Wednesday, which translated to “welcome each other with love.” The company has been […]

Two Uber Executives Leaving, Departures Begin to Mount

The number of departures of executives at Uber is increasing. Uber President of ride sharing Jeff Jones left the company following just six months of employment said the raid sharing company Sunday. Brian McClendon, the company’s vice president of business and maps is also planning to leave by the end of March. Each of the […]

Canada Goose Becomes Bigger Target for Protesters

Canada Goose enjoyed a hugely successful initial public offering debut as its shares surged over 25%. However, outside the company’s walls anyone that was seen with a pricey coat sold by the company faced a long gauntlet of activists protesting for animal rights. Protestors told those wearing a Canada Goose coat that they paid a […]

Sources: U.S. Planning Indictments Over Hacking at Yahoo

Officials from the U.S. plan to issue new indictments related to hacking against Yahoo! Inc., said a person who was briefed on the issue. The Justice Department is accusing four individuals of participating in huge security breaches online that compromised millions of accounts of users said a source close to the matter. The hacks were […]

Mexico Gives Approval to New Trump Brand Trademarks

President Donald Trump might be planning to build a wall between the U.S. and Mexico, but that has not kept Mexico from approving some new trademarks for his different brands. Approval was given by the Mexican Institute of Industrial Properties for a number of trademarks for Trump brands, covering operations such as construction, insurance, financial […]

Elon Musk Offers to Fix Energy Problems in Australia Free of Charge

Elon Musk the billionaire owner of Tesla the electric car maker has offered to fix the energy issues in South Australia within a period of 100 days, claiming he would make the fixes for free if he did not meet the 100-day deadline. The Musk offer comes following a number of blackouts due to different […]

ZTE Handed Record Fine of $1.2 Billion for Breaking Sanctions

The company, which is based in China, illegally sold goods that were U.S. made in North Korea and Iran. ZTE, which is the second largest Chinese maker of telecom equipment was handed a record fine by the United States government. ZTE pled guilty to violating sanctions imposed by the U.S. against both North Korea and […]

Despite Pledge by President Keystone Does Not Require U.S. Steel

The new Keystone XL pipeline project will not be required to purchase steel made in the U.S. to earn approval for construction from the White House administration, said President Donald Trump’s administration late last week, despite repeated claims by the president himself. The executive order by the president that mandates the use of steel made […]

Abercrombie Expecting Improvement in Sales for 2017

Abercrombie & Fitch the apparel retailer for teens said it was expecting a better performance in 2017 of its brand and posted its first increase in comparable sales for a quarter in the last year at its brand Hollister. That helped to send shares of the company up over 14%. Hollister, the California beach theme […]

SUBWAY Has Denied Reports Its Chicken is 50% Chicken

A Canadian Broadcasting Corporation investigation has investigated chicken sandwiches in six restaurant chains through the use of DNA testing. The results it reported were that McDonald’s Chicken was 85% chicken, Wendy’s chicken sandwich was 88.5% chicken, A&W’s Grilled chicken was 89.4% chicken and the Chipotle Chicken Wrap at Tim Horton’s was 86.5% chicken. However, SUBWAY’s […]

Walmart Launching Grocery War Against Aldi

Walmart Stores is currently running a new test of price comparison in 1,200 or more stores in the U.S. and squeezing suppliers of packaged goods in an attempt to close the gap in pricing with Aldi the chain of discount grocery stores based in Germany along with other rivals in the U.S. such as Kroger. […]

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 […]