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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,... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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 Merlin@home transmitter that is used... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
GoPro Planning to Cut 200 Jobs
GoPro, the maker of action cameras made to be worn on the body that have become the favorites of thrill-seekers, athletes and anyone who wants to take a video of almost anything, has said that it would eliminate up to 200 jobs in order... More of this article »
Early Data from Cyber Monday Shows Sales Increasing Over 9%
While a steady stream of customers have been keeping retailers busy for a number of days thanks to discounts from holiday promotions, shoppers still took to Internet in large numbers for Cyber Monday. Early data shows that sales online... More of this article »
Retailers Anticipating Strong Support for Small Business Saturday
The better known of the two may be Black Friday due to its huge deals but Small Business Saturday is a shopping day that puts its emphasis on community. Sponsored by American Express, Small Business Saturday takes place on the Saturday... More of this article »
Eli Lilly Alzheimer’s Drug Does Not Pass the Test
A large clinical trial for a drug that treats dementia that is caused by Alzheimer’s ended for Eli Lilly in failure after the people receiving the drug did not show significant improvements compared to those who took a placebo. The... More of this article »
Disney to Build Larger Hong Kong Kingdom
Walt Disney Co. will turn to The Avengers and Frozen to revive its theme park – Hong Kong Disneyland. On Tuesday, the U.S. company unveiled its plans for an expansion worth $1.4 billion for the park, which currently is its smallest... More of this article »
DraftKings and FanDuel Finally Will Merge
The two giants of daily fantasy sports DraftKings and FanDuel agreed to a merger following a tumultuous year where both saw their market value plunge as a number of attorneys general brought up questions about the legality of the games... More of this article »
European Union Car Sales in October Ended Flat
The new car market across the European Union was flat during October as demand dropped in the two largest countries of the bloc reported the Automobile Manufacturers Association or ACEA on Thursday. Total sales in the EU slightly exceeded... More of this article »
Vodafone Takes Charge of $5 Billion Due to India Price War
Vodafone the telecoms group posted a net loss for the first six months of 2016 of €5 billion equal to $5.5 billion Tuesday after it wrote down its Indian business by $5 billion because of a price war starting due to a powerful rival... More of this article »
Disney Net Income Increases 10%, Revenue Falls Due to ESPN
On Thursday, Walt Disney Co posted fourth quarter fiscal net income that increased by 10%, as its gains in the movie business and fewer taxes offset dropping revenue at its consumer products and cable networks units. Net income during... More of this article »
CVS Says Prescriptions Shifting, Shares Plummet on Warning
The largest drugstore chain in the U.S. warned it could lose over 40 million prescriptions in 2017 as deals have been signed by Walgreens Boot Alliance with other participants that have shut CVS pharmacies out of the drug supply chain. CVS,... More of this article »
Google Capital Has Stake in Snapchat
Google’s parent Alphabet Inc now has a share of Snapchat. Google Capital, one of two venture capital companies of Alphabet quietly added a stake in Snapchat to its investments on Friday. There were few details provided by the company... More of this article »
Air France to Launch No-Frills Airline For U.S. and Asia
Air France-KLM the Franco-Dutch carrier operator is planning to launch a medium- and long-haul airline, which could tap into a lucrative market that serves cities across the U.S. as well as Asia to regain market share that was lost... More of this article »
Pfizer Misses Forecasts Net Income Plummets
U.S. based pharmaceutical giant Pfizer saw its profit for the third quarter plummet over 38% as bigger spending and large charges related to its acquisitions were able to more than offset its higher sales. The U.S. drug maker’s mediocre... More of this article »
Exxon Issues Warning on Reserves After Posting Drop in Profit
On Friday, Exxon Mobil Corp issued a warning that it could be forced to end close to 20% of its future gas and oil prospects as it yields to the steep decline in energy prices around the world. Under an investigation by New York state... More of this article »
Merck Posts Rise in Both Revenue and Profit
Merck & Co posted an increase in both its revenue as well as profit as its closely watched treatment for cancer and its vaccines boosted its results. Shares were up 2.5% during trading before the bell as the company’s results... More of this article »
McDonald’s Sales in U.S. Increase Amidst Competition
McDonald’s Corp has kept its turnaround on the right track during its most recent quarter despite an increase in competition across the U.S. The burger chain was aided by its all-day breakfast, its McPick value promotions and its... More of this article »
Roche Sees Sales Increase Thanks to Cancer Treatments
Roche Holding AG announced that sales increased during its third quarter due to strong growth in several of its immunotherapy and cancer drugs. The healthcare behemoth based in Basel, Switzerland announced revenue had grown by 4.5%... More of this article »
Johnson & Johnson Helped Again by Its Pharmaceuticals
The pharmaceutical business of Johnson & Johnson was able to help the company lift its low end of guidance and post results that were better than had been anticipated for the most recent quarter, as it continues to help the company’s... More of this article »
U.S. Lifts Limits on Imports of Cuban Alcohol and Cigars
For a number of decades, Cuban cigars have been renowned for their intense flavor and difficulty in being obtained. The decade’s long embargo by the U.S. against Cuba has prevented Americans from returning with Cuban cigars, even... More of this article »
Report: Uber Dominates Ride Market in U.S.
Wednesday report indicated that Uber has in effect won the market war across the U.S. for ride-hailing although its biggest competitor Lyft continues to gain more market share. Uber is the dominant force in every city in the U.S. where... More of this article »