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Natural Gas Deposits to start Flowing in Israel
Israel has realized that its recent discovery of large natural gas reserves offshore is a mixed blessing. The flow of natural gas from one of the two fields is expected within days. Expects in natural gas believe the new discovery... More of this article »
Justice Department Settles Online Pharmacy Probe with UPS
The U.S. Justice Department announced it had reached an agreement for $40 million Friday to settle charges against UPS that the giant shipping company had done business with Internet pharmacies that were illegal. U.S. officials agreed... More of this article »
Five Month High in U.S. Consumer Spending
In February, U.S. consumer spending climbed by more than at any time in the past five months, due to salary increases signaling a job market improvement is helping to increase demand. Purchase in household, which are nearly 70% of... More of this article »
Mobile Device Ads Boost Twitter Ad Revenue
Twitter will reach close to $1 billion in revenue from advertising in 2014 thanks to a huge surge in advertising on mobile devices, according to new reports that were released late Wednesday. Mobile ads, said the report, will account... More of this article »
Dell Computer Receives more Bids for Takeover
Dell Inc, once the largest personal computer maker in the world, has received two more takeover bids that could be better than the original one received by Dell’s founder Michael Dell last month. The two bids that will compete with... More of this article »
Darden’s Restaurants Profits Drop but beat Wall Street
Profits for the third quarter at Darden’s were down by 18%, as lower sales at Red Lobster hurt earnings. However, the restaurant chain still beat Wall Street estimates. The Orlando, Florida based company said last week that sales... More of this article »
Nike Stock Jumps on Earnings Report
The largest maker of sporting goods in the world, Nike, Inc saw its stock price jump the most in more than 48 months on Friday. The increase was due to investor’s concerns easing over the company profitability and business in China... More of this article »
Blackberry Launching Z10 in States
On Friday, smartphone maker Blackberry, known as Research in Motion until earlier this year, will be launching their new generation smartphone in the U.S. The launch of two new smartphones is the Canadian based company’s last effort... More of this article »
HTC Delays Release of Latest Smartphone
HTC, the Taiwan based smartphone maker, has delayed the release of its latest smartphone due to a sourcing problem with components. With the HTC One now not launching on time, additional pressure is being place on CEO Peter Chou to... More of this article »
Mexico Supreme Court Rules against Apple
The Mexico Supreme Court ruled in favor of a technology services firm upholding a lower court ruling that said the company owns the brand name Ifone and has the right to use it in the country. The small company now hopes to receive... More of this article »
Fiscal Policy Worries Hit Consumer Sentiment
In the first part of March, consumer sentiment plunged to its lowest point since December of 2011. Experts believe the consumers dissatisfaction with the economic policies of the government and fewer people expect improvements to be... 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 »
Samsung Spends Much More in Advertising than its Competitors
New data just released this week shows that Samsung spent more than $400 million on billboard, internet, television and print advertising in 2012. The electronics giant, based in South Korea, passed both Apple its biggest rival and... More of this article »
Apple’s iPhone Increased U.S. Market Share
Apple is on the way up in the U.S., while Blackberry, Windows and Samsung are headed down. Apple led the way for smartphone sales in the U.S. during a three-month period from November of last year through the end of January of this... More of this article »
Google: More Jobs Cuts for Motorola Mobility
Google, the Internet search giant has announced that its unprofitable Motorola Mobility unit continues to struggle in its attempt to compete with the world’s smartphone makers. Google said that up to 1,200 jobs would be cut from... More of this article »
Over 236,000 Jobs Added in U.S. during February
Hiring during February increased in the U.S. to the tune of 236,000 new jobs that helped lower the unemployment rate to just 7.7% from the previous month’s 7.9%. Many analysts said that the surge in hiring was an indication that... 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 »
Manufacturing Data Helps Dollar and Wall Street
While the euro was down to a two month low and equity markets worldwide dropped on weak information out of Europe and China, Wall Street was able to rebound on strong news from U.S. manufacturing and a jump in consumer sentiment. The... 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 »
Profit Down at Hewlett Packard but Stock Increases
The quarterly revenue and profit at Hewlett-Packard continued its familiar trajectory downward on Thursday, but the earnings report sent the company stock in the opposite direction: up. The net income for the tech company based in... More of this article »
Governments and Businesses in Middle East Invest Big in Sponsorships
Companies and countries throughout the Gulf region are pumping millions of dollars into different sports partnerships in order to attract new business and build more recognition. Emirates Airlines, one of the biggest spenders, recently... 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 »
Heinz Acquisition Being Investigated for Stock Trades
Regulators from the U.S. Securities and Exchange Commission have started a formal inquiry into unusual stock trades they said took place prior to the deal to purchase the food company H.J. Heinz. Those trades have raised some questions... More of this article »
Blackberry Dealt Blow by Home Depot
Canadian smartphone maker Blackberry, which is currently changing its legal name from Research In Motion, received bad news from Home Depot on Monday. The huge U.S. home improvement retailer announced it would replace Blackberry smartphones... More of this article »
Productivity Drops, Pushing Labor Cost Upwards
Productivity of U.S. workers fell in the fourth quarter of 2012 more than what was projected, as the economy in the U.S. shrank. That in turn caused the cost of labor to increase as businesses approached their limits of efficiency... More of this article »
Sony Posts another Quarterly Loss
Sony Corp, the Tokyo based electronics firm announced on Thursday that it had a loss for the latest quarter, which underscored the deep problems the company is facing. The report on earnings deflated the recent optimism that was reflected... More of this article »
Zynga Reports Losses Lower than Wall Street Estimates
The online game company, Zynga said late Tuesday that it narrowed its losses for the fourth quarter, even though revenue remained flat. The company was able to reduce its loss from the same period a year ago because it closed offices,... 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 »
Profits for China’s Lenovo Beat Estimates
Computer maker Lenovo Group Ltd. based in China, is on its way to claiming the top spot in personal computer manufacturing in the world. The company also reported a record profit for its recently ended third quarter. The profit was... More of this article »
Ford Earnings for Fourth Quarter Announced
Ford Motor reported its earnings for the fourth quarter, which was its highest for the fourth quarter in over a decade. The automaker reported earnings of $1.7 billion during the last three month of 2012, due in large part to an increase... More of this article »
Japanese Automakers Make Huge Comeback
Toyota, the Japanese automaker, has once again taken over the top spot as the largest automaker in the world. Toyota lost that distinction in 2011 to General Motors, but in 2012 sold more than 9.75 million autos to set a new record.... More of this article »
FDA Approves New Use for Pfizer Vaccine
Pfizer received approval from the U.S. Food and Drug Administration on Friday to use Prevnar 13 in children and adolescents between the age of 6 and 17 to prevent Invasive Pneumococcal Disease. Prevnar 13 becomes the first and just... More of this article »
Apple No Longer World’s Most Valuable Business
Apple sat atop the list of most valuable companies in the world for 12 months, but has been overtaken by Exxon Mobile. Apple stock has lost 17% of its value since the start of 2013 and over 37% since it became the highest valued company... More of this article »
Profit for Proctor & Gamble Tops Estimates
Proctor & Gamble, whose CEO is being pressured by Bill Ackman an activist investor, upped its earnings forecast for 2013 after its U.S. market share was increased and it posted profit for the latest quarter that exceeded Wall Street... More of this article »
Apple Stock Plummets After Sales Miss Analysts Estimates
For many Wall Street analysts the phenomenal growth of the iPhone might be near its end, as sales for the smartphone missed their mark of 50 million for the year’s fourth quarter that was set by Wall Street. The announcement by Apple... More of this article »
Google Reports Record Annual Revenues
Google reported its revenues for the fourth quarter at $14.43 billion, which was up 36% for the same period one year ago. The quarterly revenues brought the annual revenue for the Internet search giant to more than $50 billion. It... More of this article »
Verizon Reports loss of $1.93 Billion
Verizon Communications the telecommunications group from the United States posted a quarterly loss of $1.93 billion on charges related to Hurricane Sandy and pension liabilities that took much of the shine off an increase in revenue... More of this article »
Huawei Would Consider Going Public
Chinese telecommunications equipment maker Huawei Technologies has announced it would consider offering potential investors an initial public offering after posting sales that would likely pass those of rival Ericsson. For the company... 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 »
UPS Ends Bid of $7 Billion to acquire TNT Express
UPS the delivery company ended its bid of $7 billion to acquire TNT Express after authorities from Europe said they would stop the acquisition on grounds it would hurt competition. Officials from the European Commission told UPS (United... More of this article »
CEO of HP Earned over $15 Million during 2012
Computer and printer manufacturer Hewlett-Packard, based in Palo Alto, California gave its CEO Margaret Whitman close to $15.4 million in compensation for her first full year as the CEO of the company, even though HP reported a huge... More of this article »
Johnson & Johnson Diabetes Drug Gets Advisory Board Approval
On Thursday, a new drug being developed by Johnson & Johnson was given backing by an advisory panel that voted 10 to 5 in favor of recommending the drug to the U.S. Food and Drug Administration. If approved, the drug would be the... More of this article »
MGM Gets go ahead to Open another Macau Casino
MGM Resorts International’s Chinese arm won approval on Wednesday for another Macau resort-casino, putting it one step closer to catching its rivals in gambling’s most lucrative market in the world. Notice of the plan to build... More of this article »
Profits Fall at Taiwan Smartphone Maker HTC
HTC announced a drop in net profits for the fifth straight quarter. The quarterly drop in profits fell to the lowest it has been in nearly 7 years. Analysts said that the first quarter during 2013 would also be challenging for the... More of this article »