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AT&T Acquires Iusacell the Mobile Carrier in Mexico
AT&T Inc, the second biggest mobile phone carrier in the U.S. has agreed to acquire Grupo Iusacell SA owned by Ricardo Salinas a billionaire for just over $2.5 billion to expand into Latin America even further. AT&T will add... More of this article »
Toyota Increases Forecast for Full Year Profit
Toyota Motor Corp has raised its forecast for operating profit for the full year by 9.1% as the sharp decline in the Japanese yen has increased the value of its earnings that are made overseas and then repatriated and makes up for... More of this article »
Sprint Cutting Another 2,000 Jobs
Sprint the wireless carrier said it would be cutting another 2,000 jobs or about 5% of its workforce as part of its effort to cut more than $1.5 billion in yearly spending. The company announced that the cuts would take place over... More of this article »
Ryanair Increases Forecast for Profit on Surge in Bookings
Ryanair raised its forecast for annual profit nearly 20% Monday because of a surge in its winter reservations and announced it would lower fares by as much as 10% over the coming year to take additional market share from its struggling... More of this article »
GoPro Eyeing Strong Sales During Holiday Quarter
GoPro Inc has forecasted sales for the holiday quarter that were better than expected, which underscores the growing popularity of the company’s wearable, action cameras amongst thrill seekers, surfers and other action enthusiasts. Shares... More of this article »
AB InBev Misses Earnings Estimates
Anheuser-Busch InBev reported a growth in profit that trailed Wall Street estimates as China and Europe weakness compounded the inability of the brewer to stem dropping sales in its largest market, the United States. Shares of the... More of this article »
Samsung Promises Changes as Profit Plunges
Samsung Electronics admitted that it erred in its strategy of smartphones and vowed on Thursday to overhaul its lineup of handsets after its profit from those units tumbled during the last quarter and sits at its lowest in over 3 years. Over... More of this article »
Advertising Revenue at Facebook Surges
Facebook expanded its revenue from advertising by over 64% during the third quarter. The increase was boosted by an increase in mobile ads that have become an increasingly larger chunk of the social media giant’s overall ad business. The... More of this article »
Eli Lilly Earnings Meet Expectations
Eli Lilly & Company reported adjusted earnings for the third quarter of 66 cents per share that were in line with estimates on Wall Street but were 41% lower than earnings from the same period one year ago. Revenue for the third... More of this article »
Microsoft Sales Pass Street Estimates
Microsoft Corp reported quarterly revenue that was higher than had been expected, helped through stronger sales of Surface tablets, phones and products for cloud computing for businesses, while keeping profit margins for the most part... More of this article »
Unilever Sales Growth Slowest in Five Years
Unilever, the Rotterdam- and London-based company reported its slowest revenue growth during the third quarter in the past five years as personal care its major growth engine sputtered amidst a sharp fall off in China. Underlying sales... More of this article »
Economy in China Grows at Five-Year Low
The economic growth in China slowed to a low of five-years of 7.3% during the third quarter, which raised concerns of a runoff effect on the world economy but falling nearly in line with the leader’s plans in China for a controlled... More of this article »
Philips Announced Spinoff on Track but Posts Loss
Philips the conglomerate based in the Netherlands said it was moving ahead with the spinoff planned for its lighting business even though it experienced a loss during the recently ended third quarter, when hit by weakness in China... More of this article »
Honeywell Profit Passes Forecast, Seeking Deals
The diversified maker of electronic equipment and aircraft parts, Honeywell International Inc, posted a profit for the third quarter that was better than had been expected helped in part by higher margins in its aerospace business. Honeywell... More of this article »
Amazon Now Has Grocery Delivery in Brooklyn
Amazon.com has expanded its grocery delivery service to Park Slope a well-heeled Brooklyn neighborhood. The online service for Brooklyn started on Friday, giving the No. 1 online retailer in the U.S. a foothold in one of the nation’s... More of this article »
Google Disappoints on Slowdown of Advertising Growth
Heavy spending, a slowdown in advertising growth and a higher tax bill has led to quarterly results that were disappointing for Google, which brought down the shares of the search behemoth of Internet. Google announced that revenue... More of this article »
Amazon Reportedly Opening Retail Store in New York City
Amazon, the online retail behemoth will reportedly be taking on Macy’s and other retailers in the Big Apple with a physical store during the holidays, according to people who said they were familiar with the situation. The location... More of this article »
Report: Hewlett-Packard Will Split Into Two
Hewlett-Packard Co, the stalwart of Silicon Valley, has struggled trying to adapt to the new era of online and mobile computing. The company plans to split into two separate companies looking to put additional focus on its corporate... More of this article »
Exxon Mobil Wants Ban on Exports of U.S. Crude Lifted
During a business conference last week in Houston, Rex Tillerson the CEO at ExxonMobil said that if the government of the U.S. would end the ban on export of crude oil from the U.S. that is decades old, there would be a spike in job... More of this article »
Pepsi Launching Soda that is Naturally Sweetened on Amazon
PepsiCo announced that it is introducing for the first time a product exclusively through online retailer Amazon.com as the maker of soft drinks and snack looks to increase is footprint in the growing e-commerce industry. The product,... More of this article »
Private Social Network Ello Generating Buzz
The ads free social network Ello is creating buzz online with invitations on eBay selling for as much as $500. The social media Internet site Ello has been creating quite a bit of buzz online over the past couple of days. Ello, which... More of this article »
Data Breaches at Record Highs for 2014
Thus far in 2014, there have been more than 568 data breaches with over 75 million records involved, of which 56 million took place at Home Depot outlets according to new data released by an identity theft Internet research company. The... More of this article »
Nike Profit Driven by Higher Margins and Demand Across Europe
Nike Inc, the largest maker of sportswear in the world, reported a quarterly profit that was better than had been expected as it grabs market share across Europe and focus on products with higher margins such as its Flyknit soccer... More of this article »
Soft Drink Makers to Cut Calories
The largest three soft drink companies – Coca-Cola, Dr Pepper Snapple Group and PepisCo – pledged to slash the amount of calories Americans drink in their sodas. The cut will be 20% over the next 10 years through distribution packaging... More of this article »
Horizon Pharma Moves Overseas Defying Lawmakers
Despite an increasing amount of criticism from Washington lawmakers, a drug maker officially left the U.S. and opened its corporate offices in Ireland in a move that was designed to lower its taxes. Horizon Pharma closed its acquisition... More of this article »
Apple Frenzy as Stores Start Selling iPhone 6
This year Christmas arrived in September for Apple lovers, as they stormed the company’s stores on Friday morning to purchase the new generation iPhone, though not everyone was able to get the model they had on their list. The new... More of this article »
Japan Sees Another Trade Deficit
Japan has logged its 26th consecutive month with a trade deficit, as August ended in the red by 948.5 billion yen or $8.7 billion, as soft demand from the U.S. and China stymied the country’s exports, the Ministry of Finance announced... More of this article »
Sony Says Losses Will Reach $2 Billion
For Sony things have gone from bad to worse. The electronics company based in Japan expects to lose at least $2 billion this year partly due to it poor smartphone business. Sony announced that it estimated it would have a loss that... More of this article »
UK Inflation Drops During August
The inflation rates in the United Kingdom dropped unexpectedly in August, suggesting that the Bank of England was likely in no rush to increase interest rates even though the economy was still growing, showed official data on Tuesday. The... More of this article »
Lufthansa and Air France Hit By Pilot Strikes
Deutsche Lufthansa AG and Air France both face disruptive strikes. Air France is facing its biggest strike by pilots since 1998, while Lufthansa is preparing for another on Tuesday as both carriers are confronting resistance from workers... More of this article »
Olive Garden Investor Says Stop the Breadsticks
According to one investor, Olive Garden hurts itself by handing out too many of its breadsticks. In a critique that was close to 300 pages, Starboard Value, the hedge fund, says the restaurant chain lacks discipline and training and... More of this article »
Court: Yelp Able to Tamper With its Reviews
Yelp, the influential website for rating, denies that it tampers with reviews, but a federal court ruled the site can if it is so inclined, saying it would not be extortion. The San Francisco Court of Appeals decision came in response... More of this article »
Zalando the European Fashion Retailer Planning IPO
Zalando SE the largest European online-only fashion and shoe retailer is planning to sell up to 11% of its stock in its initial public offering in 2014 in the first big IPO for the startup scene in Berlin. The company sells products... More of this article »
McDonald’s Overhauling Strategy of China Food-Safety
McDonald’s Corp is currently overhauling its strategy of food safety in China following problems with one of its suppliers that hit the image of the fast food giant and eroded sales across the country. The company, based in Oak Brook,... More of this article »
Report: Apple to Team with MasterCard and Visa on Wallet for iPhone
Apple Inc is planning to turn its new generation iPhone into a wallet via a new partnership with retailers and banks and the biggest payment networks, said a person close to the situation. The new agreement includes MasterCard, Visa... More of this article »
Tiffany Sees Strong Sales Growth During Second Quarter
Tiffany & Co reported on Wednesday financial results for the second quarter that ended on July 31. The net earnings were up 16% thanks to a 7% increase in net sales worldwide and gross margin that was higher. The earnings forecast... More of this article »
Roche Acquires InterMune
Roche the pharmaceutical giant based in Switzerland is expanding its treatments for respiratory disease through its acquisition of InterMune a drug maker in Brisbane for more than $8.3 billion, said both companies. Roche agreed to... More of this article »
U.S. Head of McDonald’s Replaced Again
McDonald’s Corp has replaced its President in the U.S. again. It is the second time in the past two years the burger chain has changed its top U.S. executive. The move suggests more pressure on CEO Don Thompson to increase sales... More of this article »
Profit Surges at GameStop
GameStop Corp, on Thursday reported its profits surged for its second quarter thanks to the revenue of the retailer of video games jumping by 25%. That surge in revenues was credited for the most part to strong demand in consoles such... More of this article »
Manufacturing from China to Europe Slows
Manufacturing activity was slower in China and the euro region as increased political tensions threatened to cut trade and put a damp outlook on the global economy. A preliminary reading of the Purchasing Managers Index for the euro... More of this article »
Dick’s Sporting Goods Profit Drops by 17%
Dick’s Sporting Goods Inc is not happy about its golf game. Reeling from a decline in its sales for months and mounting inventories the retailer believes the category will drop to only 10% of its overall business during the next... More of this article »
Microsoft Yanks Windows Update for August After Crashes Reported
Microsoft pulled its update for August for Windows after reports of crashes came in from users and issues involving the restarting of their systems were announced. The software giant has recommended that users uninstall the latest... More of this article »
Moms Organization Wants Gun Ban in Kroger
A Moms organization that was successful in getting Chipotle, Chili’s and Target to make a stance against carrying guns called upon Kroger on Monday to do the same. The group, Moms Demand Action for Gun Sense in America, is requesting... More of this article »
IBM Server Sale Approved by Regulators
United States National Security regulators have given the go ahead for Lenovo to purchase the not so profitable IBM x86-server business. The decision was a major win for Lenovo, the PC maker based in China, as the investigation of... More of this article »
Shareholders at Chiquita Called to Start Proxy Battle
Cutrale-Safra Group from Brazil, which made an unsolicited offer for Chiquita brands International that was rejected on Thursday by management, made the first steps to push for a proxy fight in its attempt at a hostile takeover. Cutrale... More of this article »
Candy Crush Crumbles as King Digital Falls
King Digital Entertainment’s debut in the stock market during March was amongst the worst this year in the U.S. The stock fell by 16% on the first day it traded, as investors were worried the Candy Crush Saga mobile device game maker... More of this article »
Sanofi to Market Afrezza the Inhaled Insulin Medication
Sanofi, a pharmaceutical company in France, has agreed to purchase the right to market Afrezza for $925 million. The drug was recently approved as an inhaled insulin treatment for diabetics that was developed by California based MannKind... More of this article »
More Americans Saying NO to Vodka from Russia
Russia is famous for its vodka, but many types of vodka that are popular today are produced across the globe, even some in the United States. However, the popularity of Russian vodka in the U.S. might be over. As economic warfare is... More of this article »