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Manufacturing Sector Gets Momentum
Factory output in the United States increased in August as the rate of motor vehicles assemblies reached a six year high. These were seen as a good sign for the economy after a slow start of the third quarter. But not everything is... More of this article »
Private Car Dealers Get Huge Profits from Increased Sales
Privately held auto dealers have driven their sales higher for the third straight year. The pace of the increases has slowed down compared to last year. This was according to the data from Sageworks, a financial information firm. Sales... More of this article »
More Data, Less Guessing on the Economy
Small businesses produce around 15 percent of the nation’s economic output but their activities are not recorded in official reports in a detailed manner. The lack of data within the small business sector can be overcome with Big... More of this article »
Ford Introduces Warning System against Approaches
Police officers will now be safer via the new system Ford has invented that will automatically sound an alarm, lock the doors, and put the windows up if it detects a person sneaking from behind the car. Ford said that the system is... More of this article »
American and US Airways Merger Trial to Start in November
A federal judge said that the lawsuit filed by the government to block the proposed merger of American Airlines and US Airways will begin November 25. The timetable is favored by the airlines. The US Justice Department wanted the trial... More of this article »
Starbucks Grows other Business Aside from Coffee
Starbucks announced that it will begin selling its Evolution Fresh juice and Evolution Harvest line of snacks in Whole Food stores across the United States. The coffee chain giant plans to have the Evolution Fresh product line in 8,000... More of this article »
BlackBerry Tries to Sell Itself to Save Company
BlackBerry has created a special committee that was tasked to find some strategic alternatives to save the phone maker. It has indicated that selling itself will be one of the possibilities it is willing to explore. The committee will... More of this article »
US Celebrates National Farmers Market Week
The United States is celebrating the National Farmers Market Week that puts the spotlight on farmers markets across the nation. One of which is Camp Hill’s Farmers on Walnut that operates every Thursday at the parking lot of the... More of this article »
FlightCar Offers New Service for Car Owners and Renters
FlightCar has something for car owners who use their cars for only a couple of days a month. The company rents out travelers’ cars while they are not in town. But on Monday, FlightCar announced a new service that pays car owners... More of this article »
Bezos to Purchase Washington Post for $250 Million
Jeff Bezos, founder and chief executive officer of Amazon.com, agreed to buy The Washington Post, which is one of the best and well-known legacy media publications in the United States. The digital billionaire will pay $250 million... More of this article »
Chevron Agrees to Pay Fine, Give Natural Gas Buses and Clean Up Emissions
Chevron agreed to settle with the US Environmental Protection Agency for pollution violation at its Salt Lake City refinery. Under the deal, the company will pay $284,000 in fines and purchase four new compressed natural gas school... More of this article »
Michael Dell One Step towards Approval for Buyout Deal
Michael Dell got the approval from the board’s special committee. This could lead the way for Dell to go private in a deal that was said to be worth $24.9 billion. The company’s shares increased 5 percent in trading as investors... More of this article »
Omnicom Merges with Publicis to Form Largest Ad Company
Omnicom Group and Publicis Groupe announced their merger that will form the world’s biggest advertising holding company. The combined company will have a market cap of $35 billion. The company will be known as Publicis Omnicom Group. The... More of this article »
Starbucks to Serve Yogurt Soon
Starbucks has added something new to its menu. Aside from offering designer coffee, you can now enjoy designer yogurt at the giant coffee chain. The company announced its partnership with French yogurt maker Danone to make its own... More of this article »
McLaren Dealerships Comes to Scottsdale
Auto Gallery, which is based in Woodland Hills, California, is bringing a McLaren Automotive dealership in Scottsdale. The company has leased around 10,000 square feet of space at the corner of in Raintree Drive and 83rd Place in North... More of this article »
Apple Constructs Its Second Solar Farm in Nevada
Manufacturing companies are now shifting towards solar farms. Lots of companies are contracting solar panel makers to place several panels near their factories that help power the facility and keep their carbon footprint low. Placing... More of this article »
Stocks Get Mixed Results as Quarter Ends
Stocks got volatile results Friday and got mixed results as investors got a breather after the Dow Jones industrial average got its first three day winning streak since late April. It closed down 114.89 points to 14,909.60 after getting... More of this article »
Hospital Chain Tenet Acquires Vanguard Health
Tenet Healthcare, a US hospital operator, announced that it will acquire its rival Vanguard Health Systems for $1.73 billion. It would give it a better position to benefit from President Barack Obama’s healthcare reform. Investors... More of this article »
Apple CEO Stock Award Tied to Performance of the Shares
Apple Chief Executive Tim Cook will have to work hard to keep the value of the company from declining. His stock award worth more than $413 million is now subject to the performance of the shares. This was the result of the discussions... More of this article »
Google Wants Gag Order Lifted Regarding Internet Surveillance Program
Google asked the federal government to lift the gag order regarding its Internet surveillance program. The online search giant cited the First Amendment right to inform the public about the number of requests it gets from the government... More of this article »
Wholesale Prices Up in May
An increase in gas and food costs led to the rise in the measure of wholesale prices in May. Inflation was mild outside the volatile categories. The Labor Department said that the producer price index went up0.5 percent in May from... More of this article »
Supporters of Walmart Associates Call for Higher Pay
Walmart workers who are on strike got the support of local union members. They are asking for higher pay and other changes from the largest retailer in the United States. They went on strike as shareholders of the company held their... More of this article »
Tax Transparency to Cost Apple Billions
Last week, Apple’s tax avoidance strategies were revealed at a US Senate hearing. The company created subsidiaries in stateless nations in order to avoid paying taxes that are said to worth billions of dollars. The strategies could... More of this article »
Durable Goods Increase More than Estimate in April
Orders for US durable goods went up more than the forecast in April. This was seen as an indicator that the world’s biggest economy will rebound in the second half of the year as investments strengthens. Orders for equipment meant... More of this article »
Yahoo Board Approves Acquisition of Tumblr
The board of Yahoo approved to purchase Tumblr, which is a popular blogging service, for around $1.1 billion in cash. The deal indicated that the company plans to get back its position as the technology industry tries to get into social... More of this article »
Wal-Mart First Quarter Numbers Disappoint Investors
Wal-Mart shares dropped 1.7 percent Thursday after the retailer reported its profits and revenues were below the expectations for the first quarter. Its same-store sales declined 1.4 percent, which excluded fuel. Wal-Mart expected... More of this article »
Michigan Reaps the Benefits of Healthy GM
Michigan is now enjoying the rewards of a healthy General Motors. Since 2009, almost half of the investments made by GM have benefited the state. This was according to its CEO and Chairman Dan Akerson. GM invested $8.5 billion and... More of this article »
US Postal Service Losses $1.9 Billion in 2nd Quarter
The United States Postal Service posted a loss of $1.9 billion in the second quarter as the agency slashed workers’ hours but had a hard time dealing with the drop in mail volumes. This was according to the announcement made by the... More of this article »
Casinos Prepare for Legalization of Internet Gambling
Legalized gambling is moving out of the casinos and into the internet. This is why the industry is preparing for the broadest changes in its history. Ultimate Gaming, a company based in Las Vegas, has become the first in the United... More of this article »
Intel’s Selection of New CEO Sticks to Familiar Formula
Intel selected Brian Krzanich as its next CEO. It indicated that the technology giant is sticking to a familiar formula despite the changing shift in computing that has caused some worries about the future of the company. Ever since... More of this article »
Herbalife Makes Progress in Replacing KPMG
In a conference call with analysts, Herbalife said it is making progress in looking for a new accounting company. The nutritional products firm had to search for a new accounting company after KPMG resigned earlier this month after... More of this article »
Has Novartis Infringe on its Corporate Integrity Agreement?
The US Department of Justice filed two lawsuits in the span of one week against Novartis for alleged paid kickbacks to improve prescriptions and caused federal healthcare programs to pay for medicines based on false claims. A complaint... More of this article »
Profits up, Revenue down for Burger King
Burger King Worldwide on Friday announced that its first quarter profit more than doubled because of less expenses, which helped to offset negative sales in their same-stores and revenue that was lower. The company went public back... More of this article »
Profits increase at GE for 2013 First Quarter
General Electric, the largest industrial conglomerate by market capitalization in the U.S. announced its profits had increased by 14% during the first quarter of 2013. That increase was obtained even though the company’s results... More of this article »
Nevada Wind Farm Under Investigation for Death of Eagle
The US Fish and Wildlife Service is conducting a probe on the death of a golden eagle at the Spring Valley Wind Farm, which is near the Utah border. Pattern Energy owns the 152 megawatt wind energy facility that sells power to Las... More of this article »
VW Targets 60% increase in China Production by 2018
Europe’s largest automaker, Volkswagen AG, announced on Thursday its plans to increase its production of vehicles in China by over 60% in the next five years. The Germany automobile giant last year saw its earnings in China increase... More of this article »
European Auto Market to be weak for Years to Come
Sales of new cars in Europe will remain weak for up to another 60 months at minimum said executives in the industry on Tuesday. The auto executives said due to the implementation of austerity programs in the region car buyers would... More of this article »
MasterPass unveiled in Barcelona by MasterCard
At the Barcelona Mobile World Congress on Monday, MasterCard announced its entrance into the mobile payment market. The new unveiling has been awaited for some time and MasterPass was finally made public for the first time today. The... More of this article »
Sequester Deadline Worrisome for Businesses
Only five days remain before the deadline for the White House and Congress to reach an agreement avoiding cuts across the board totally $85 billion divided between domestic programs and defense. The Congressional Budget Office announced... More of this article »
Office Depot negotiating with OfficeMax over Merger
Office Depot, Inc is in merger talks with OfficeMax said people who are close to the situation. The two paper, pen and other office accessories retailers are trying to find a way to fend off the tough competition that rivals such as... More of this article »
European Shares Lower thanks to Carlsberg
Denmark’s Carlsberg A/S, the owner of the biggest brewer in Russia scrapped its goal of medium term profitability amid higher costs for brewing beer and expenses for changes made in logistics and product buying. The target set in... More of this article »
Pharmaceuticals Give Large Sums of Money to Physicians
Most patients are unaware that different pharmaceutical companies give doctors thousands of dollars for each patient that they enrol in experimental drug trials. Even though the motive’s of the doctor’s may be pure and the medications... More of this article »
Profit at Merck Falls in Fourth Quarter
Merck, the pharmaceutical giant based in Whitehouse Station, New Jersey, announced that profits fell in the fourth quarter of 2012 by 7%. Company officials said that was due in part to sales of Singulair, its best selling asthma medication,... More of this article »
Merger between Two Beer Giants Blocked by Feds
On Thursday, the U.S. Department of Justice filed a suit in federal court to stop the merger between Mexico’s largest brewery, Grupo Modelo and Anheuser-Busch InBev. The Justice Department argues that consumer pricing will suffer... More of this article »
Microsoft-Dell Partnership Advantageous for Both Companies
There are speculations that Dell is buying back stock and become a private company again. There are also new rumors that Microsoft will be involved in it. According to reports, Microsoft is planning to invest up to $3 billion for a... More of this article »
GE Gets Sharp 4th Quarter Profit
General Electric released its profits report Friday that showed better than expected increase of 7.5 percent in its fourth quarter profit as well as a sharp increase in its backlog of equipment orders. GE got strong earnings growth... More of this article »
eBay Says 2012 was its best Year
Internet commerce is becoming more and more common and eBay, the e-commerce pioneer, says that it enjoyed its best year to date in 2012. The company said shoppers flocked to its site in search of bargains and used its payment service,... More of this article »
Profits at FedEx Fall
FedEx announced on Wednesday that its profits had dropped 12% during their fiscal second quarter. However, the drop was not as much as investors had feared as the shipping company struggled for better results in the airfreight sector... More of this article »