Latest News

FAA Proposed $435,000 Fine Against United Airlines

On Tuesday, the Federal Aviation Administration proposed a fine of $435,000 against United Airlines. The FAA alleges that the air carrier operated an aircraft that it says was “not in airworthy condition.” During June of 2014, mechanics at United Airlines replaced the pressure switch on a fuel pump on one of the airline’s Boeing 747s. […]

British Airways’ Problems Lessen Following Weekend Chaos

British Airways continues to work in restoring its computer systems following a huge power failure that caused a huge disruption worldwide for thousands of its passengers. The airline is near full operational capacity following a power cut to its IT system that resulted in massive flight cancellations at Gatwick and Heathrow. Thousands of air passengers […]

Best Buy Breaks the Retail Slump Trend

Best Buy Co., the giant in retail electronics that just a few years ago having major problems, is bucking the retail slump in the U.S. by turning its stores from a drag on business into ways to fight off online rivals such as Amazon.com. Thursday, the company posted a small increase in its quarterly revenue, […]

China Downgraded by Moody’s As Debt Increases

Moody’s Investors Service has downgraded the credit rating for China. The Wednesday downgrade was the first for China in close to 30 years. Moody’s said it expects that the strength financially of the economy in China will erode during the next few years as its growth will slow and debut will continue rising. The downgrade […]

Boeing and Saudi Arabia Sign New Deals

Boeing announced Sunday that it signed several commercial and defense deals with Gulf Region leader Saudi Arabia that includes the sale of passenger and military aircraft. The deals were signed during the visit to the kingdom made over the weekend by U.S. President Donald Trump. This announcement is the most recent of billions of dollars […]

Profit Falls at Walmart, but Beats Expectations

Walmart Stores profit was down 1.3% during its fiscal year first quarter, but a surge in e-commerce and strong sales in the U.S. showed how the retailer continues to attract consumers during a challenging time in the industry. The company posted $3.04 billion of net income equal to $1 a share, for its quarter that […]

Jack in the Box Shares Bounce Following Earnings Report

Jack in the Box released its 2017 financial report for its second quarter that included earnings per share of 98 cents with revenues reaching $369 million. Stock in the company increased almost 11% in trading after hours late Tuesday after the earnings report had been released. The earnings per share of 98 cents excluded 9 […]

U.S. Stocks Open Higher on Surprise by Russia and Saudis

The week was set to start higher on Wall Street on Monday with the prices of oil rallying after Russia and Saudi Arabia called for an OPEC production cut extension. Futures for the DOW were up 59 points early Monday while, the same for the S&P 500 were higher by 5.3 points. Nasdaq futures were […]

Shares at Macy’s Fall by 17% Due to Plummeting Profit

Macy’s on Thursday rang an early warning bell for the U.S. retail industry in posting results that signaled another tough quarter for retail department stores as well as mass merchandisers that have struggled in their attempt to adapt to the changing habits of shoppers, who are browsing more in stores and buying online. The downward […]

Nvidia Shares Soar as AI Chip Demand Grows

Nvidia the maker of graphics chips keeps proving it is not only about gaming. On Tuesday, the chipmaker in its earnings reported for the first quarter posted revenue that reached $1.94 billion, which was up more than 48% from the same period one year ago with earnings per share of 79 cents an increase of […]

JD.Com Helped by Surge in Online Shopping in China

JD.com posted its first-ever quarterly profit since becoming a public company with the integration of Walmart Stores. The web business in China and strong spending by consumers has driven a surge in online sales. China’s second largest company in the e-commerce industry after just Alibaba Group had been the benefactor of an increase in online […]

Delta Air Lines Removes Family from Flight After Seating Problem

Delta Air Lines based in the U.S. is facing a public relations nightmare after a family alleged they had been removed from a flight for refusing to give up their child’s seat. A member of the flight’s crew could be heard on a video on YouTube saying it was a federal offense and you and […]

Stock at Twilio Plunges as Uber Pulls Back

A solid revenue report was not enough to prevent stock at Twilio from plunging in trading after hours. What appeared at first glance to be a good story very quickly became a financial nightmare for the company. The cloud communications business saw its stock fall by 30% during trading afterhours that was attributable to guidance […]

Report: Young People and Insecure Children Targeted by Facebook

The algorithms used by Facebook collect data on young New Zealanders and Australians emotional state, for advertising. Facebook apologized for allegedly allowing its advertisers to target people who are emotionally vulnerable and as young as 14, revealed a document leaked and obtained by The Australian. The news outlet, said the document that leaked was prepared […]

Alphabet Inc. Sees Profit Soar 29% on Ad Sales

Alphabet Inc., the parent company for Google, posted an increase in revenue and profit Thursday as the core advertising part of its business continued growing at a rapid pace and problems like a YouTube advertiser boycott created little to no impact. The profit by Alphabet beat estimates on Wall Street and rose by 29% to […]

Chipotle Payments System Hacked

If it is not one thing it is another. Chipotle Mexican Grill had just reported that its sales rebounded following a prolonged decline that came after an outbreak of food safety issues, when company executives told analysts that its system for payment processing had been hacked. The CFO of Chipotle Jack Hartung announced that the […]

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, […]

Apple To Replace iPad 4 With iPad Air 2 Due To Low Stock Levels

Owners of the iPad 4 that might be damaged and who take their devices for repairs at an Apple Store might get a replacement in the form of an iPad Air 2. The replacement has been authorized because of low or unavailable stocks of the iPad 4 which has already been discontinued anyway. However, the […]

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 […]