Home » Top Stories
November Sales Hit New Record for Chrysler, VW Falls
Chrysler Group announced that November sales for new vehicles were up more than 16% making it the best November for the U.S. automaker since 2007. The month was the 44th straight with sales gains. Chrysler said the long-delayed SUV... More of this article »
Sales on Black Friday Eaten Into by Thanksgiving
The first results of the Thanksgiving weekend holiday shopping is that by opening on Thanksgiving Day, retailers made Black Friday a bit less crazy. Overall, sales at brick and mortar stores on Thanksgiving and Black Friday were up... More of this article »
Prices for Whiskey Soar
Makers of whiskey in the U.S. are dabbling with new flavors in an attempt to lure in customers. However, the latest Michter’s Distillery introduction has broken into a new pricing stratosphere that might shake the entire industry. The... More of this article »
Unemployment in Germany at Highest Since Early 2011
Unemployment in Germany increased to its highest in over 30 months during November, showed new data just a day after Angela Merkel the Chancellor unveiled her coalition plans to roll back reforms that over the past decade were credited... More of this article »
Shares at HP Open Higher
Signs that the turnaround plan at Hewlett-Packard is finally yielding positive results has prompted one brokerage firm to increase its rating on share of HP, while eight others raised price targets. This has set the stock up for a... More of this article »
Profits at Tiffany Top Estimates
Tiffany & Co has posted its profit for the third quarter. The earnings topped that of estimates from analysts. The company boosted its earnings forecast for the year as the stock market in the U.S. continues rising giving consumers... More of this article »
Workers at Walmart Battling in Court
Federal Officials are preparing a legal case to bring against the largest retailer in the world for its alleged retaliation against its employees who staged protests on Black Friday last year. The U.S. National Labor Relations Board... More of this article »
Higher Sales in Beef and Chicken Boost Tyson Profits
Tyson Foods Inc has reported a 28% increase in quarterly profit, which was better than expected, helped by an increase in beef sales and said it expected that meat production would increase during the current fiscal year. Shares of... More of this article »
Exxon Mobil Stake of $3.7 Billion Purchased by Berkshire
Berkshire Hathaway has reported the purchase of a stake valued at $3.7 in Exxon Mobil Corp. The company, owned by Warren Buffett, disclosed its largest holding since 2011. The company owned as of September 30, 40.1 million Exxon shares... More of this article »
Walmart Profit Increases for Third Quarter
Walmart said its profit for the third quarter was up by 2.8%, but the largest retailer in the world reported a shortfall in sales, as its shoppers with lower income feel a squeeze across the globe. The giant retailer also said it was... More of this article »
Starbucks Paying to Settle Dispute
Starbuck Corp. said it agreed to pay Mondelez International the amount of $2.79 billion as a settlement of a dispute over the bagged coffee business for the coffee shop behemoth. An arbitrator ordered the payment that consists of damages... More of this article »
Walmart Launching Sales for Black Friday Earlier
Walmart has become the most recent major retailer to announce earlier launch times for its Black Friday and weekend sales. The giant retailer said their Black Friday would start at dinnertime Thanksgiving on Thursday evening. Coming... More of this article »
Shire to Acquire ViroPharma for $4.2 Billion
Shire, based in Dublin announced on Monday that it had agreed to acquire ViroPharma for $4.2 billion to expand its rare disease treatments portfolio. The company said it agreed to pay $50 a share for the Pennsylvania based ViroPharma,... More of this article »
Jobs Report Shows Unexpected Increase
Even though the federal government was shut down for 16 days during October, the economy in the U.S. added 204,000 jobs during the month. The number for October was well above expectations of economists. Even more good news came through... More of this article »
Johnson & Johnson to Pay Penalty of $2.2 Billion
Johnson & Johnson agreed it would pay over $2.2 billion in order to settle civil and criminal claims that it had marketed Risperdal, its antipsychotic drug as well as other medications for uses off-label and paid large kickbacks... More of this article »
Shares of Ryanair Plummet on Warning
Shares at Ryanair have plummeted over 11% after the discount airline warned that its profits were likely to fall in 2013. The airline now said it expected a profit of $674 million to $700 million for their fiscal year that ends in... More of this article »
VW Moves Up in Global Sales
While Volkswagen, the Wolfsburg, Germany-based automaker has now risen to the top to become the third-largest automaker in the world thanks in part to great timing in expansion in Brazil and China, the market in the U.S. remained a... More of this article »
Nissan Cuts Forecast for Profit
Nissan has slashed its profit forecast for the full year by 15% and replaced its number two in command following a disappointing quarter that the automaker blamed on costs related to recalls and volatile demand. The second largest... More of this article »
Profit Falls at General Motors by 53%
Third quarter earnings were announced by General Motors in the amount of $698 million, which was 53% less than last year during the same quarter. However, revenue was slightly higher at $39 billion. GM earnings a year ago were $1.5... More of this article »
Pfizer Beats Wall Street Estimates
Pfizer, Inc., the biggest drug maker in the world reported profits for the third quarter that passed the estimates of analysts as the drug maker lowered its costs, while its sales of its top painkiller and vaccine increased. Earnings... More of this article »
Profit Falls at Merck on Lower Sales
Merck and Co’s earnings for the third quarter dropped by 35% as it lost the exclusivity for Singulair the allergy and asthma drug that contributed to the pharmaceutical giant’s weaker sales. Merck said expenses related to the restructuring... More of this article »
UPS Sees Rise in Profits and Strong Holiday Season
United Parcel Service said more demand in its domestic ground shipments had lifted company profits during the third quarter. UPS said it expects sales online during the heavy holiday shopping season to boost its shipping volumes going... More of this article »
McDonald’s Changes Ketchups
The world’s largest fast food chain is changing its ketchup. McDonald’s in a prepared statement on Friday said it was cutting its ties with Heinz the condiment making company after a relationship of 40 years. McDonald’s said... More of this article »
Proctor & Gamble See Rise in Profits
The largest maker of consumer products in the world, Proctor & Gamble Co announced that its first quarter profits were up 7.6% as sales for its homecare goods and products for babies gained. Net income for the quarter was $3.03... More of this article »
Ford Ups Outlook Following Strong Third Quarter
Ford Motor Company boosted its complete year earnings on Thursday, helped in part from the improved forecast for Europe and results that had been better than projected during the third quarter. The second largest automaker in the U.S.... More of this article »
Actelion Reaches High of Six Years
Actelion the Swiss biotech company saw its shares climb over 5% to their highest since 2007 on Monday. Its stock prices increased on optimism that it had a viable product to gain sales and earn profit after an approval in the U.S.... More of this article »
Shares of Google Break $1,000 Mark
Shares of Google have passed the $1,000 threshold for just the first time. On Friday, the stock was up nearly 14% after the business reported earnings that were better than had been expected. Shares of the online search giant closed... More of this article »
EU and Canada Sign Deal for Free-Trade
The European Union and Canada have reached a free trade treaty agreement in principle that brings them near the end of over four years of negotiating. Stephen Harper the Prime Minister of Canada and Jose Barroso, the President of the... More of this article »
Developer from China Investing $5 Billion in Brooklyn
Developer Greenland Group, owned by China will take majority ownership of the Atlantic Yards in New York. The deal is expected to be the largest ever investment by a China based company in a property in the U.S. The Greenland Group... More of this article »
Exports in China Drop Unexpectedly
In September, exports from China fell unexpectedly signaling the constraints from demand globally and highlighting the distortions from fabricated invoices that remain in the country’s trade data. Shipments overseas fell 0.3% from... More of this article »
Shipments of Personal Computers Fall Due to Tepid Demand
Shipments of Personal Computers worldwide fell during the most recent third quarter, reaching the lowest level for that period since 2008. Industry experts blamed the drop on low demand from returning students. This marks the sixth... More of this article »
Alcoa Exceeds Earnings Estimates
Alcoa, Inc the largest producer in the U.S. of aluminum reported quarterly earnings that beat forecasts after its smelting sector returned to be profitable and results were better at one of its units that makes aerospace and auto parts. Net... More of this article »
10,000 Jobs to be Cut by Alcatel-Lucent
Alcatel-Lucent the telecom equipment manufacturer has unveiled its latest plans to cut up to 10,000 jobs across the globe before the end of 2015. The company announced its plans on Tuesday and hopes to save as much as $1.36 billion... More of this article »
Japan Airlines Agrees to Deal with Airbus
Airbus the manufacturing giant for aircraft announced a first deal ever with Japan Airlines the Japanese carrier. The deal just signed was for 31 A350 planes and was worth close to $9.5 billion at the prices that Airbus lists for that... More of this article »
Jobs Report Postponed Due to Shutdown
The monthly jobs report for the Bureau of Labor Statistics will not be released due to not having workers to process it because of the current government shutdown. Only three out of 2,400 employees at the bureau are still working during... More of this article »
Advertisers on Twitter Say it Needs Additional Users
For some of Twitter’s advertisers, 218 million users is not an audience that is big enough, That was their message to the social network, which on Thursday detailed its plans to have an initial public offering. The ad buyers want... More of this article »
Samsung Estimates Record Profits
Samsung Electronics issued new guidance stating it predicted record operating profit for its third quarter. However, the electronics giant could be facing shareholder pressure to use its cash holdings as smartphone market saturation... More of this article »
United Technologies Could Furlough 5,000
By the beginning of next week, 2,000 workers at United Technologies that make the Black Hawk helicopter will be out of work. The company said it might have to layoff over 5,000 of its workers if the shutdown by the federal government... More of this article »
Apple Passes Coca-Cola as Most Valued Brand
Cupertino, California based Apple has taken over first place from Coca-Cola as the No. 1 brand in the world. The company, originally founded by the late Steve Jobs, is now the leader in performance and design, according to a recent... More of this article »
Silver Market Probe Ended in U.S.
Last week regulators in the United States closed an investigation of five years into the alleged manipulation of prices in the silver market. Regulators said the 7,000 hours its staff had worked on the investigation did not produce... More of this article »
Exxon Offering Health Care to Same-Sex Married Couples
After drawing a great deal of criticism for its policies in relation to its lesbian and gay workers, Exxon Mobil Corporation, announced on Friday that it is extending its health insurance along with other benefits for employees to... More of this article »
Blackberry Announces Huge Loss for Second Quarter
The earnings results, which followed the preliminary ones of a week ago, showed that the struggling smartphone maker lost $965 million on $1.6 billion in revenue for the quarter ending August 31. The company also said it was going... More of this article »
Alibaba Wants Listing in U.S.
The most valuable Chinese e-commerce company, Alibaba Group Holding, will hold a highly anticipated U.S. initial public offering after it failed to agree with the stock exchange in Hong Kong over having a listing there, according to... More of this article »
Fiat Threatening Pullback with Chrysler with IPO
Majority owner Fiat SpA has threatened to pull back from any commitments in the future to Chrysler Group its American carmaker if a new healthcare trust is successful in selling its share in an IPO. Chrysler in a prepared statement... More of this article »
Apple iPhone 5S Launch Sells Millions
Over the past weekend, Apple, Inc. sold nine million of its newest iPhones setting a new sales record for their first three days in retail outlets in the U.S. The initial supplies of the high-end model have sold out. Apple also announced... More of this article »
FedEx Reports Profit for Quarter Increased
FedEx, the courier company, said its profit for the quarter had increased by 7%. That came despite a fall off in revenue in the FedEx Express unit. The company also announced a rate increase would take place starting in January. FedEx... More of this article »
Auto Sales in Europe Fall to New Low
In Europe, car sales continue to fall despite a modest amount of economic growth returning to the region. Over the first eight months of this year in the European Union, sales of passenger cars were down 5.2% to 7.83 million in comparison... More of this article »
HTC Cutting Jobs in U.S.
HTC announced today it would be eliminating over 20% of its workforce in the U.S. the smartphone manufacturer based in Taiwan announced it would reduce its workforce in the U.S. as it attempts to optimize and streamline its operations. The... More of this article »