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Teen Girls Barred from United Airlines Flight for Wearing Leggings

Two teenagers who were dressed in leggings were not allowed to board a flight one United Airlines Sunday due to breaking the dress code the airline has for travelers with special passes, said a spokesperson for the airline. The two teen girls, who had been traveling with another companion, would not have been banned from boarding for wearing leggings if they had been paying passengers, said a spokesperson for United as the U.S. based airline tried to respond to a huge backlash on social media. The girls were told they could not board their flight... 
 

Fuel Shortage in Venezuela Growing Worse

The state oil company in Venezuela was trying desperately to fill gasoline supplies in many neighborhoods in the capital of Caracas on Thursday as cars were lined up at gas stations amidst a shortage of fuel that is growing worse. While the state run Petroleos de Venezuela SA (PDVSA) said that the situation was normalizing and placed the blame on long lines at gas station on transportation delays, the country’s opposition party says that the oil company needed to lower its costly imports of fuel as it attempts to preserve its dwindling cash on... 
 

FedEx Comes Up Short on Earnings

Facing much higher costs despite transporting millions of packages during this past holiday season, FedEx missed expectations on Wall Street Tuesday for the quarter just ended. The three-month period included the majority of the 2016 holiday shopping and shipping season that included projected record setting days during December. Coming through at that time, which is a critical time for the company, CEO at FedEx Frederick Smith was pleased. However, analysts said that the company faced infrastructure and fuel costs that that were higher. An industry... 
 

Brazil Looks to Calm Fears Over Export and Sale of Meat

Brazilian president Michel Temer, who is confronting a huge corruption scandal that is tarnishing the country’s lucrative meat industry, on Sunday met with executives as well as foreign diplomats in an attempt to assuage the health concerns that are tarnishing a sector that represents $12 billion of Brazil’s exports annually. The meetings followed raids by Brazilian police Friday that are investigating whether companies were paying bribes to conceal conditions deemed unsanitary at meatpackers. Temer is working to protect one of the few sectors... 
 

Dollar General Increasing Pay, Lowering Price and Adding Perishable Goods

As its investors question if the footprint of Dollar General is becoming too large, the retailer must prove its new stores are not the only method of growing sales. To do that, the chain is doing things similar to Walmart. After another drop is sales growth across its established stores, Dollar General outlined on Thursday a strategy it says will drive the business moving forward. While its new plan includes another 1,000 stores in 2017, it incorporates investments that should increase performance at stores in existence. Dollar General knows it... 
 

Euronet Worldwide Tops Offer by Ant to Acquire MoneyGram

Euronet Worldwide Inc. the U.S. based electronic payments company launched a bid of $1 billion for MoneyGram International on Tuesday. Euronet argued that its deal involving two American companies would not face as much scrutiny from regulators as a lower bid from Ant Financial Services from China would. Ant Financial, which is a financial services affiliate of online giant Alibaba Group, said it was committed to its offer. Ant Financial and MoneyGram continues working in cooperation under terms of the agreement to merge between the two and progress... 
 

Oil Prices Drop to Low of Three Months on Rig Count

Oil prices fell to a low of three months Monday despite efforts by OPEC to curb output of crude. The prices were pulled down in part due to U.S. drillers adding more rigs. Brent crude was off 11 cents equal to 0.21% to $51.26 a barrel in London early Monday, which was its lowest since November 30. In its previous session, oil was off 1.6%. West Texas Intermediate in the U.S. was down 19 cents equal to 0.39% to a barrel price of $48.30 which was also its lowest since November 30. Brent Crude will drop for the fifth straight day if it continues at... 
 

Shares of Staples Fall After Earnings Come Up Short

Office supplies retailer Staples saw its shares drop on Thursday after posting a continued drop in sales of its traditional supplies such as printer ink and paper helping drag the company to a loss during its most recently ended quarter. For the quarter, that ended January 31, Staples posted total sales of $4.6 billion which were 3% less that for the same period one year ago. The company posted a net loss from its continued operations of $615 million equal to 94 cents per share. Analysts were expecting Staples to have a profit of 25 cents a share,... 
 

Trump Tweet Sends Pharmaceutical Stocks Tumbling

On Tuesday President Donald Trump reappeared in the debate over prices of drugs and sent pharmaceutical stocks plunging again thanks to a tweet that promised medication costs would be lowered for Americans. Trump tweeted that he was working on a system where the drug industry will once again have competition. Mylan NV, which makes EpiPen the allergy shot that has been the center of public outrage related to drug prices, was down 1.6%, while Perrigo fell 1.8% and Allergan was down 1.1%. Trump tweeted early Tuesday after Republicans in the House unveiled... 
 

Opel Sold by General Motors to PSA

General Motors has sold Opel to the PSA Group in a deal that values Opel at €2.2 billion or $2.3 billion, said the carmaker on Monday. The sale creates another regional giant in carmakers that will challenge Volkswagen the current leader in the market. The maker of Citroen and Peugeot has vowed it will return Opel and Vauxhall its British brand to profitability. It targeted a 2% operating margin within the next three years and one of 6% before the start of 2026 underpinned by €1.7 million in cost savings between the two. Shares of PSA were up... 
 

Snapchat Could Be Given Difficult Test by Asia Rival

The big rival to Snapchat in Asia could spell trouble. Snow is known for its popular animated face filter that is making this messaging app grow rapidly in popularity. Users across Asia, especially girls are in love with the pretty and cute things that Snow offers, said its spokesperson. Because of that, the messaging app gives it young users, who are predominantly female, a number of options to use with most tailored to the huge Asian market. This approach has helped to make Snow so highly successful across Asia that Snapchat might already be shut... 
 

Shares of Kite Pharma Flying High After Reaching Study Goal

On Tuesday, Kite Pharma Inc. announced that CAR an experimental T-cell therapy that helps the body’s immune system to fight cancer, was very effective in the treating of aggressive non-Hodgkin’s lymphoma, as it met the main goal in a key study. Shares of Kite flew up 15.85% following the announcement. CAR T-cell drugs are generated by genetically altering the own T-cells of a patient to add in a component of antibodies making them able to spot as well as kill cancerous cells better. Many drug makers, including Novartis AG, BlueBird Bio Inc.... 
 

Tech Giant in Asia Not Planning to Please Trump

China’s largest maker of smartphones does not have any plans to follow other large tech companies in Asia by meeting with U.S. President Donald Trump and delivering promises of new jobs in the U.S. Richard Yu, the consumer business chief with Huawei said the company is not like Jack Ma. Yu said Ma is more active, but Huawei is more humble. Yu when making those comments had been referring to Ma, the charismatic founder of Alibaba the tech giant based in China, who has met with President Trump during January pledging new jobs in the United States. The... 
 

China Becomes Germany’s Largest Trading Partner

In 2016, China for just the first time became the biggest trading partner of Germany. China overtook both the United States and France with the U.S. dropping to third place and France remaining in second indicated new data released on Friday. German exports to and imports from China increased in 2016 to over €170 billion equal to $180 billion, showed figures from the Federal Statistics Office. This development is likely welcomed by the government of Germany, which has put a goal of safeguarding global free trade following the threat by U.S. President... 
 

Home Depot Increases Dividend Establishes New Buyback Program

On Tuesday, Home Depot posted growth in sales for its fourth quarter, increased its dividend as well as buyback program. The housing market across the U.S. continues growing and Home Depot is reaping the rewards. Shares at Home Depot have increased by 12% during the last three months and increased by 1.8% on Tuesday before the opening bell. The company increased its dividend from 69 cents to 89 cents and authorized a share buyback program of $15 billion. The new program for buyback replaced a previous one. Two years ago, Home Depot authorized a... 
 

CEO at Uber Orders Sexual Harassment Investigation

Uber, the ride-hailing startup, has announced that it will open an investigation after one of its former employees made allegations to the public of sexism as well as harassment at the company. A former engineer, Susan Fowler, who on Sunday published a blog post that detailed her experiences while at Uber, has claimed that the business would not do anything more than issue warnings to her superior after Fowler and other female employees had complained about the alleged sexual harassment. Fowler wrote she had been blamed after she made several reports... 
 

Household Debt Closing in on Levels of 2008

American households around the country are taking on more debt every day. Total debut for households increased at the end of last year to over $12.58 trillion. That represented an increase of more than $266 billion from the 2016 third quarter. This data came from a report released by the Federal Reserve Bank of New York. For the full year, debt in American households increased by more than $460 billion, its largest increase in nearly a decade. The current figures for debt load in American households are closing in on levels of 2008 when total debt... 
 

Pharmaceuticals Shunning Push by Trump for FDA Shift

President Donald Trump has vowed to roll back regulations imposed by the government by 75% or more and that has caused great anxiety amongst some executives with pharmaceutical companies. The worry is a less strict Food and Drug Administration would make it more difficult to gain insurance coverage for their latest expensive medicines. The possibility of change at the federal regulatory agency has come as drug makers are being criticized for their high prices. That includes Marathon Pharmaceuticals that announced on Monday it would delay it launch... 
 

Top Official in Italy Says Facebook Must Act on Hate Speech

On Monday, the president of the lower house of parliament in Italy said Facebook needs to do more to end hate speech on the social media site. She warned that increasing abuse on a number of social media sites was driven by the increase of fake news. The Italian lawmaker, Laura Boldrini, is herself the focus often times of online threats and sexist insults. She complained last November to managers at Facebook about the hate speech on the site and pressured them to handle the problem. In parliament on Monday, she told lawmakers that two months following... 
 

Reckitt Benckiser Paying $16.6 Billion for Mead Johnson

Reckitt Benckiser agreed to acquire Mead Johnson Nutrition, the maker of baby formula, based in the U.S. That takes the Britain-based consumer goods business into new territory and expands its presence across developing markets. Reckitt, which makes Durex condoms, Mucinex cold medicine and Lysol cleaners, said Friday it would pay $90 per share in cash for Mead Johnson. That represents a premium of 30% to the closing price of Mead on the day prior to Rickett announcing it was holding advanced talks with the Enfamil baby formula maker. Including the... 
 

Yum China Beats Expectations in First Earnings Report

Chinese fast-food company Yum China Holdings, which was spun off by its parent in the U.S. last October, topped expectations for earnings in its first quarterly results thanks to help from its expanding chain of KFC restaurants. The company’s profit was 17 cents per share, which excluded certain items in comparison to analyst expectations of 10 cents per share. Growth in sales at same stores for KFC gave results a boost, while its division of Pizza Hut did not perform as well as expected. The results indicate that Yum China has had a solid start... 
 

U.S. Company Leading Race to Buy Airbag Maker Takata

Takata is narrowing down a buyer from the United States to help it get through its huge recall crisis with airbags. The troubled firm, based in Japan, established an independent committee that recommended the takeover bid of Key Safety Systems based in Detroit, Takata said via a prepared statement. However, the airbag maker said that a final decision had not been made. Autoliv was another top bidder based in Sweden, but its bid was rejected because of concerns over antitrust problems. Key Safety Systems did not respond immediately to requests for... 
 

U.S. Adds 227,000 New Jobs During January

The United States economy added over 227,000 new jobs during February, which was ahead of the gain in December of 157,000. The rate of unemployment moved up just slightly to 4.8%, as more people in the U.S. began looking for work, a good sign that explains the slight unemployment rate increase. It is the first jobs report released under the new Trump administration. Nevertheless, the Department of Labor conducted the survey for jobs during the second week in January when the office of the president was still occupied by President Barack Obama. One... 
 

Amazon Will Spend Nearly $1.5 Billion on Air Cargo Hub

Amazon’s new investment, which could help to create over 2,000 new jobs, is just example of the company’s ambition to grow in logistics and shipping. The largest e-retailer in the world is planning to build its first air cargo hub in Hebron, Kentucky at Cincinnati/Northern Kentucky Airport for $1.49 billion, said company officials on Tuesday. The hub is scheduled to create as many as 2,700 jobs in the area. Amazon’s project will span 900 acres and would be the single largest investment ever by any business in northern Kentucky, said state... 
 

Uber Fights Trump Immigration Order with Driver’s Legal Fund

Just hours after the co-founders of Lyft announced a donation of $1 billion to defend the Constitution to the American Civil Liberties Union, CEO Travis Kalanick at Uber opened his wallet as well. The Uber CEO promised via a post on Facebook that the ride-hailing company was going to create a legal defense fund of $3 million to help those drivers that were affected by the White House’s move to restrict refugees and immigrants from seven countries that are majority Muslim. The legal fund will be established to help drivers with translation and... 
 

Microsoft Posts Higher Profit on Cloud Service Demand

On Thursday, Microsoft Corp posted a rise of 3.6% in profit for its fiscal second quarter, helped from growth in its rapidly growing business of cloud computing. However, the company experienced a small decline in its margins for its unit that includes Azure the company’s flagship cloud platform. Shares at the biggest software business in the world were 1.1% higher in trading afterhours on Thursday. Since he took charge of the company in 2014, CEO Satya Nadella has been able to steer it toward mobile applications and cloud services and away... 
 

PepsiCo Plans for Super Bowl All About Water and No Calories

PepsiCo will water down its Super Bowl advertising. The beverage maker announced late Tuesday that its 30-second ad for Super Bowl LI will be for Lifewtr its new brand of premium bottle water. The spot is called Inspiration Drops and features a version of Love Me Now the song by John Legend. The use of the song was tailored to reflect the art direction of the ad and bring its imagery to life, said a prepared statement from PepsiCo. As announced previously, PepsiCo will use its sponsorship of the Super Bowl halftime show to plug its Pepsi Zero Sugar... 
 

Hugo Barra Leaving Xiaomi for Silicon Valley

Hugo Barra is returning to Silicon Valley. The international chief at Chinese smartphone maker Xiaomi stepped down following a turbulent run of four years that saw the company rise to the top of its China phone market prior to local rivals mimicking its model and surging past it. Barra is a former executive with Google and will return to Silicon Valley after being hired away buy Xiaomi during 2013 to represent the company at a global level. On Monday, in a post on his Facebook, Barra announced that it was the right time for him to return home and... 
 

Uber Reaches Settlement with FTC for $20 Million Over Pay for Drivers

This week Uber Technologies agreed it would pay $20 million as a settlement for a lawsuit by the Federal Trade Commission do to driver compensation claims as well as its program of auto leasing. The FTC filed suit against the ride-hailing company on Thursday saying that Uber had made false, unsubstantiated or misleading claims about the amount drivers could earn from the startup’s service. The regulatory agency alleged that Uber made misrepresentations of a similar nature about the program it has related to vehicle financing. In the complaint,... 
 

United Earnings Meet Expectations, But Fall 52%

On Tuesday, United Airlines posted a drop of 52% in its net earnings for its fourth quarter, but the air carrier met expectations on Wall Street thanks to better than had been expected bookings during both November and December. The airline, based in Chicago, posted net income of $397 million for its October through December quarter. That was down from one year ago during the same quarter when income was $823 million, but at that time fuel prices were even lower than now, which helped to spike profits. Earnings were $1.26 per diluted share, which... 
 

Philip Morris Rocked by Proposal in India to Ban Tobacco Investment by Foreigners.

Philip Morris International has a fight on its hands as it attempts to keep its hold on the $11 billion India tobacco market, while the government takes into consideration making the rules tougher for foreign investments in the industry. In letters to the India trade minister and a government think tank from Philip Morris, the company, based in the U.S. said the protectionist and discriminatory proposals would represent a big blow it the plans it has of launching new products and making further investments in the country. The two previously not... 
 

Cigna Changes to Generic EpiPen, CVS Cuts Prices

Health insurance behemoth Cigna announced earlier this week it was dropping its coverage for brand name EpiPens that cost $600, while drugstore chain CVS has close to halved the price of epinephrine auto injector Adrenaclick to just $109. A Cigna spokesperson said the news was positive for customers, as the generic version is now available in pharmacies, has the same formulation of drugs and functions in the same manner as the branded device, but at substantial savings. At the same time, CVS said it recognized an urgent need for an ephinephrine... 
 

St. Jude Medical to Release Update Fixing Hacking Vulnerability

This week St. Jude Medical said it has starting deploying updates to its system of Merlin.net Patients Care Network. The security updates followed reports that during the latter part of 2016 the [email protected] transmitter that is used to monitor specific implanted devices of St. Jude Medical could be hacked and used potentially to kill the patient. The implants involved span pacemakers – Endurity and Assurity – and Implantable Defibrillators – Fortify Assura and Ellipse. Reports of vulnerability prompted the U.S. Food and Drug Administration... 
 

McDonald’s Sells Majority of Hong Kong and China Business

McDonald’s Corp agreed on Monday to sell the bulk of its Hong Kong and China business to CITIC Ltd, a conglomerate that is state supported and Carlyle Group LP for $2.1 billion, as it seeks to expand quickly without using that much of its capital. The deal for 20 years caps a negotiation of months between private equity companies such as Carlyle and TPG Capital Management, McDonald’s and a number of other suitors in China. The fast food giant based in the U.S. said its local partners would help increase the speed of its growth in the No. 2 economy... 
 

J.C. Penney Sees Drop in Holiday Sales

The attack on retailers continued last this week when J.C. Penney Co posted a decline in sales at same-stores during the months of November and December, just the latest chain of department stores adding to the malaise in the retail sector as shoppers increasingly shun brick and mortar locations to shop online. Shares at J.C. Penney fell by 5.9% in early Friday trading, hitting the lowest price in the past seven months at $7.40 per share. The report by J.C. Penney came only one day after its biggest rivals Macy’s and Kohl’s said their sales... 
 

Weak Sales During Holiday Season Hit Macy’s and Kohl’s

More than 10,000 jobs will be cut by Macy’s and the department store chain detailed plans to shuttered dozens of its stores, following another poor holiday season for sales, providing additional evidence that the department store is no longer an integral part of American retailing. As with its rival Kohl’s, which warned on Wednesday of poor holiday sales as well, Macy’s has not solved the shift by the consumers to shopping online. Macy’s will shutter stores from Bangor, Maine to San Diego, California and use its savings to increase efforts... 
 

Twitter Chief in China Steps Down

Twitter Inc’s announced that is controversial chief for its operations in China departed the company after just eight months. This is the latest executive that has left the micro-blogging company amidst its reorganization across the globe. A number of Twitter executives have left the business since October when it announced layoffs amidst continued red numbers. Profitability has been a constant challenge for the social network and its growth in revenue has now slowed. In a group of tweets December 31, Kathy Chen the Managing Director in China... 
 

Pfizer and OPKO Drug for Growth Hormone Deficiency Fails Study

OPKO Health announced that its experimental drug designed to help fight GHD or growth hormone deficiency in adults has failed to produce statistically significant benefits versus a placebo in a study that was “late-stage.” The news helped to send its shares plunging 14% in trading. GHD is a very rare disorder that is characterized by less than adequate secretion of the body’s growth hormone from its pituitary gland. The pituitary is the organ responsible for producing a number of different hormones. GHD can be hereditary and can be acquired... 
 

Toshiba Has $6.6 Billion of Market Value Wiped Away by Investors

Toshiba has dreamed of becoming a leader in the nuclear energy industry. Those dreams are now only big nightmare’s for the Japanese based company. Jittery investors have wiped off more than $6.6 billion of the market value of the company after it released a warning of extremely large losses linked to its acquisition during 2015 of a nuclear construction business in the United States. Shares of the Japanese company plunged 17% more during Thursday trading. Losses during the last three trading days now have reached 42%, driven by the most part by... 
 

Panasonic and Tesla to Begin Solar Cells Production in New York

Panasonic Corp together with Tesla Motors announced on December 27 that they have reached an agreement to begin production of photovoltaic cells and modules in a Buffalo, New York factory. The two companies released a joint statement that said the two were planning to begin production of the PV modules in 2017 during the summer and by 2019 increase to a gigawatt of module production. These PV cells and modules are high-efficiency and will be used for producing solar panels for non-solar roof products said the joint statement released by both. When... 
 

Ebola Vaccine Shown to Work in New Study

An experimental vaccine against Ebola completely protected recipients from the deadly virus near the end of the recent epidemic in West Africa reported researchers. The same strategy was used that was also used for the eradication in the 1970s of smallpox. Known as ring vaccination, it vaccinates people who have had contact with patients and the contacts of contacts. It worked, said the team the World Health Organization led. The efficacy of the vaccine was 100%, wrote the researchers in their report that was published Friday in Lancet Medical Journal. It... 
 

Hershey Names Michele Buck As New CEO

Hershey announced that Michele Buck an 11-year veteran with the company would be the next CEO and president of the chocolate maker, an appointment during a time when large food manufacturers are being challenged by startups that are much smaller. Buck is currently the company’s COO and will officially start as the top executive of the company March 1. She will succeed John Bilbrey who announced in October that he intended to retire in 2017 from the company. The maker of its namesake chocolate, Twizzlers and Reese’s said that the compensation... 
 

Retailers Stopping On-Call Scheduling

Six retailers in the U.S. will not require their hourly employees to check if they are needed for work and risk seeing shifts in their schedules cancelled at the last minute. On Tuesday, the announcement will be made by Eric Schneiderman the Attorney General of New York. The New York AG and his counterparts across seven states, including those in Illinois and California, have sent out letters to many companies over the past year requesting data about how they schedule. However, in those letters, officials said that workers could be harmed by schedules... 
 

Mylan Releasing Generic, Half Price EpiPen

Mylan will release a new generic version of its EpiPen the emergency treatment for allergies at half the price that the original branded version costs. The price of the original has drawn much scorn from parents across the country and spawned inquiries by Congress members. The potential savings in cost will depend upon the insurance coverage of the patients and the qualification for assistance and discount programs that will be provided by the drug maker. For the company, the benefit from the long anticipated generic version is more specific: It... 
 

Two Charged By Feds in Probe Over Price Fixing

Two former executives with a company that make generic drugs were charged this week for alleged roles they played in a bid-rigging and price-fixing scheme that involved a diabetes medication and an antibiotic. Former CEO of Heritage Pharmaceuticals Jeffery Glazer and the former president of the company Jason Malek were named in two separate felony cases that are related to the alleged scheme that involved glyburide a diabetes medication and doxycycline hyclate an antibiotic that treats bacterial infections. The scheme, outlined in the court documents,... 
 

Walmart Preparing for Last Minute Frenzy of Christmas Shoppers

Hoping for a smooth ride as the Christmas shopping seasonal rush comes to an end, Walmart is attempting to move more last minute shoppers over to its service of in-store pick up for orders online and push them to plan ahead. The world’s largest retailer on Tuesday said that shoppers could order an item through walmart.com up to 6 p.m. December 23 and would be able to pick it up at their choice of Walmart Supercenters anytime Christmas Eve the 24th. While Walmart has offered pick up in stores for a number of years, this marks the first year the... 
 

Children in U.S. Less Likely to Surpass Earnings of Parents

The gap is widening between the rich and poor in the U.S. and that has pushed the chances of kids to out earn their parents down to 50%, said economic researchers. That is a sharp drop from back in 1940 when 90% of the children were expected to pass their parents in earnings over their lifetime. Now it has come down to nothing more than a flip of the coin, as 50% will and 50% will not exceed the earnings of their parents, said an economics professor at Stanford. The trend that is headed downward was true across all of the U.S. with the steepest... 
 

Michael Jordan Gains Ground on Getting His Name Back

Michael Jordan had gained ground in his long battle with a sportswear company in China over his name being used in the most populous country in the world. The former basketball superstar has been tied up in a legal battle for years with sports apparel maker Qiaodan Sports. Qiaodan is the name for Jordan in Chinese and the firm’s main logo is strikingly similar to the iconic image Air Jordan that Nike products use. The top court in China ruled Thursday that the sportswear maker based in China stop their use of two Chinese characters in Qiaodan.... 
 

McDonald’s Keeping As Much As 25% in Hong Kong and China Stores

McDonald’s Corp is trying to raise between $1 billion and $2 billion through the sale of its Hong Kong and China stores after the fast food giant based in the U.S. decided it would keep as much as a 25% minority stake, said a person who has knowledge of company plans. The company chose a consortium that is led by Carlyle Group LP a private equity business and CITIC Group Corp a conglomerate based in China to buy its stores and the decision to keep as much as 25% lowered the sale price from as much as $3 billion that was originally expected, said... 
 

President Obama Take Steps to Block Chip Maker Acquisition by Chinese Company

On Friday, President Barrack Obama moved to block a deal by a Chinese company to acquire a German based high-tech business due to national security grounds. This is an unusual step that might make for more tensions between Donald Trump, his successor, and the government of China that is determined to make its capabilities in technology better. The intervention in the bid by the Chinese company to acquire Aixtron a semiconductor company in Germany comes after companies in China have dished out billions of dollars to buy technology both in the U.S.... 
 
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