Home » Archive for May, 2013
Crash in Upstate New York Shocks First Responders
Even firefighters who have been on the job for years said they were shocked when they responded to an accident that killed seven in New York. The accident took place about 25 miles from Syracuse in the town of Truxton. Crushed cars... More of this article »
Will Yahoo! (NASD: YHOO) Return To Glory?
Yahoo! (NASD: YHOO) is aiming to reverse its fortune, and while it has historically committed to organic growth, it has now deviated from this trend. The recent news of the firm buying Internet blogging startup Tumblr for $1.1 billion... More of this article »
Fairholme Takes a 500 Million Stake in Freddie and Fannie
Fund manager Bruce Berkowitz’s Fairholme Capital Management invested on Freddie Mac and Frannie Mae preferred shares. The mutual fund company took around $500 million stake in the preferred shares of the mortgage firms that have... More of this article »
Galaxy Mini S4 unveiled by Samsung
South Korea based Samsung Electronics announced its new smartphone, the Galaxy mini S4, which has a better camera and larger screen than the Galaxy S3 mini, its predecessor. The latest introduction of the smaller version of the company’s... More of this article »
Another Snafu at J.C. Penney (NYSE: JCP): This Time an Ad That Resembles Hitler
JC Penney (NYSE: JCP) just can’t seem to get out of its own way lately. The firm has struggled mightily in recent years and suffered one after another public relations disasters. First, the firm ousted it’s entire retail management... More of this article »
Wal-Mart (NYSE: WMT), Target (NYSE: TGT) and Other Retailers Embroiled in Lawsuit with Visa (NYSE: V), MasterCard (NYSE: MA)
Wal-Mart (NYSE: WMT), Target (NYSE: TGT), and Sears Holdings Corp (NASD: SHLD) rarely find themselves agreeing, much less banding together on any one issue. When it comes to dealings with credit card companies though, that is all changing.... More of this article »
Oil Price Increases to $95 per Barrel
Oil price increased to $95 per barrel Tuesday due to the gains on stock markets across the globe. Benchmark oil for July delivery went up 86 cents to close at $95.01 per barrel. It was the first increase for oil in five trading sessions. Oil... More of this article »
PC Industry to be hit harder in 2013
In 2013, industry experts say the PC industry will be hit even harder by slumping sales. Analysts from industry expert IDC just released a shipment forecast for PCs that was revised and casts the business in a light that is very dim. The... More of this article »
US Housing Market to Continue Growth
Analysts from the National Association of Realtors and investors are confident about the future of the housing market in the United States. They based their forecasts on current economic and employment data. Stocks of home improvement... More of this article »
Samsung Profit Increases 42% In First Quarter (PINK:SSNLF)
Samsung Electronics reported that its net income in the first quarter increased by 42 percent over the same quarter last year. The company’s net income reached 7.2 trillion won ($6.5 billion) in the quarter, up from 5 trillion won... More of this article »
Amazon Sees Profit Fall In First Quarter (NASDAQ:AMZN)
Profits at Amazon decreased 37 percent for the first three months of the year. The Internet retailer expected the drop, which was a bit less than some investors had forecast. Amazon reported net income of $82 million, or 18 cents a... More of this article »
Children must be checked for Motor Delays by Pediatricians
On Tuesday, pediatricians said that doctors need to screen babies, as well as young children regularly for any delays in the development of motor skills, including trouble standing, sitting or speaking. A panel of the American Academy... More of this article »
Republican Party Needs to Close for New Repairs
Former Republican presidential candidate Robert Dole does not have many kind words to say about his party today. Dole ran in 1996 against President Bill Clinton and was the Republican Senate leader for the better part of the 1980s... More of this article »
Google Nears Antitrust Deal Over Web Searches (NASDAQ:GOOG)
Google took another step toward reaching an antitrust settlement with European Union regulators. Google has apparently offered concessions that are acceptable to the European Commission, which would allow the company to avoid a guilty... More of this article »
Cisco Profit Rises 14.5% (NASDAQ:CSCO)
Cisco Systems reported that its net income increased 14.5 percent compared with a year earlier, to $2.5 billion, or 46 cents a share. Revenue increased by 5.4 percent, to $12.2 billion. Cisco had net income of 51 cents a share by the... More of this article »
Jobless Benefits Drop Last Week
The number of Americans who applied for jobless benefits dropped 23,000 last week to a seasonally adjusted 340,000. The number was consistent with the solid job growth. The four week average, which is said to be a less volatile measure,... More of this article »
Barrick Gold Corp has mine construction stopped by Chilean Government
The Chilean government created the Environmental Superintendency recently to make certain that its environmental laws were adhered to. At the end of 2012, the governmental entity began its operations because of the growing concern... More of this article »
US Against the $20 Million Severance Package to AMR CEO
The Justice Department publicly announced its opposition to American Airlines’ plan to pay $20 million in severance to Chief Executive Tom Horton as part of the carrier’s merger with US Airways Group Inc. The US trustee’s office,... More of this article »
Middle East Revenue for Huawei Increases
Huawei Technology saw an increase of 18% in revenue in the Middle East during 2012. The company also said that its 4G mobile network roll out and its IT outsourcing will be the main drivers in its regional growth. The second biggest... More of this article »
Unemployment Claims Drop as Consumer Comfort Increases
There were fewer Americans who applied for jobless benefits last week. At the same time, consumer confidence neared a five year high as the largest part of the economy benefited from improving housing and job markets. Unemployment... More of this article »
Senate Confirms first Indian American to Court of Appeals
On Thursday, the U.S. Senate confirmed Srikanth Srinivasan by a vote of 97-0 to the U.S. Court of Appeals in Washington D.C., which is the highest appointment judicially achieved by any Indian-American. The confirmation is just a precursor... More of this article »
Apple Tax Scandal can Lead to the Scrapping of Corporate Tax
Apple is described as a tax dodger that deprived the US taxpayers of billions. The company used schemes in order to avoid paying taxes. US senators grilled Apple CEO Tim Cook with regards to the company’s tax practices. Senator Rand... More of this article »
Military Charges Soldier for Filming Female Cadets
On Thursday, soldier in the U.S. Army was charged with videotaping female cadets while they were taking a shower and in other places at West Point’s U.S. Military Academy. This is just one more development in the growing sexual... More of this article »
Herbalife Employs PwC as Auditor
Herbalife announced that it has hired PricewaterhouseCoopers LLP PWC.UL as its auditor. The firm replaced KPMG after allegations of insider trading. After the announcement was made, shares of the company increased 4 percent in afternoon... More of this article »
Drug Resistant TB Bacteria Killed by Vitamin C
According to Albert Einstein College of Medicine researchers at Yeshiva University, vitamin C has killed tuberculosis bacteria that were drug resistant in a laboratory culture. The new discovery suggests adding the vitamin to existing... More of this article »
AT&T Entering The Home Security Industry (NYSE:T)
AT&T Inc. has announced the launch of its home security and automation service that will now be available in 15 cities across the United States. AT&T’s new packages, dubbed “Digital Life,” are being sold in cellphone... More of this article »
Apple Avoids Billions via Tax Shelters
Apple is the nation’s most profitable technology company and yet it managed to avoid paying billions in taxes in the United States and across the globe via a network of subsidiaries that were set up all over the world. This was according... More of this article »
Glass Point Solar Expanding into Middle East
California based GlassPoint Solar Inc said on Monday it had commissioned an oil recovery plant of 7-megawatts that is producing more than 50 metric tons of steam daily. The steam is injected into the oilfield at Amal in the southern... More of this article »
Tallapoosa County Unemployment Rate Drops to 7%
Tallapoosa County’s jobless rate dropped 1.9 percent from January 2013 to April 2013. This was according to the most recent report released by the Alabama Department of Labor. The county’s jobless rate was at 7 percent in April.... More of this article »
Actavis to acquire Warner Chilcott
Actavis, the generic drug maker, has been talked about over speculation of being taken over, is planning to buy Ireland’s Warner Chilcott the specialty pharmaceutical firm for a price of $5 billion. Both companies announced the deal... More of this article »
Paris-Saint Germain Celebrates End of Beckham’s Career
Professional soccer player David Beckham started his last match at home for Paris-Saint Germain on Saturday. His manager Carlo Ancelotti replaced Beckham in the 81st minute of the match. When the Englishmen came off the field, the... More of this article »
Dow and S&P Close at Record Levels
Stocks continued their upward trend Friday as the market got their fourth straight week of gains that was attributed to the encouraging economic reports that prompted investors to opt for shares of growth companies. The Standard &... More of this article »
More Confidence and Optimism over the U.S. Economy
For four straight weeks, the major stock indexes in the U.S. have increased reaching new highs. This week was the same as new data released has indicated the confidence amongst small business and consumers has improved, which helped... More of this article »
I.B.M. Falters And Misses Profit Targets (NYSE:IBM)
In the first quarter, I.B.M. saw a decrease in its hardware business that affected both profits and revenue. Revenue was down 5 percent, to $23.4 billion compared with the same quarter a year ago, falling below analysts’ forecast... More of this article »
General Electric Quarterly Profit Rises 16% (NYSE:GE)
General Electric reported solid first-quarter earnings despite the economic downturn that has been plaguing many businesses this year. G.E.’s results were helped by higher profits in its aviation and transportation units and by G.E.’s... More of this article »
Dell Earnings Drop 79% as Sales of PC Continue to Shrink
Dell has been in the middle of a takeover battle between the company’s billionaire founder and activist investor Carl Icahn. The company reported that its profit dropped 79 percent that was attributed to the decline of personal computer... More of this article »
Women Cannot Run for Presidency in Iran
A member of a watchdog group in Iran said that women could not run as a presidential candidate, which effectively killed the bids of close to 30 women who were seeking to be on the ballot for the election on June 14. The bids by the... More of this article »
Factory Output and Wholesale Price Add to US Economy Woes
Factory output declined in April as manufacturing activity in New York slowed down. These were seen as signs that the global demand has made an impact on the US economy. The slow growth was also caused by the largest decline in wholesale... More of this article »
Syria warned by Israel not to Retaliate
A senior official from Israel said on Wednesday that Israel was currently considering further air strikes in Syria to make sure the transfer of weapons to dangerous Islamic militants is prevented. At the same time, Israel warned... More of this article »
Newborns Might be Helped with both Breast Milk and Formula
Babies that have an early loss of weight might benefit from being given a limited amount of formula in addition to their mother’s breast milk, suggested a new study published in Pediatrics on Monday. In fact, the trial, which was... More of this article »
Airlines Collect Record Baggage Fees in 2012
US airlines collected at least $6 billion in baggage and reservation change fees from customers in 2012. This was the highest amount since the fees were made common five years ago. The fees have helped the airline industry return to... More of this article »
Switch to BT Broadband Today and Start Saving
If you have been considering switching to BT Broadband for some time now but have been on the fence about it, there has never been a better time to make that switch. With so many BT Broadband and phone deals out there, you can save... More of this article »
Electric Carmaker Reports First Quarterly Profit
Tesla the electric carmaker saw its share prices jump by 2.5% on Tuesday to $90 after it had jumped by over 14% on Monday. The stock’s spike in price started during the first week of May when quarterly earnings showed the company... More of this article »
GM Unveils High Tech Data Center
General Motors revealed its state-of-the-art data center located at the company’s Technical Center in Warren, Michigan. GM said it was worth $130 million. The company has plans to open a second one at its Milford, Michigan facility.... More of this article »
JPMorgan Directors against Dividing Dimon’s Role
JPMorgan Chase & Co.’s directors asked shareholders to oppose the calls to make Chief Executive Officer Jamie Dimon to resign from one of his roles as CEO and chairman of the company. The directors said that it could be disruptive... More of this article »
Players Championship Won By World’s No. 1 Tiger Woods
Tiger Woods had only won the Players Championship on one occasion prior to this past weekend. The world’s No. 1 golf professional won back in 2000 but has had his share of problems on the famous stadium course. However, Woods called... More of this article »
College Debt Bubble Same as the Housing Bubble
The Federal Advisory Council, which is composed of 12 bankers who meet each quarter to advise the Federal Reserve, warned that the growth in student loan debt was similar to the nature of the housing crisis. The group also said that... More of this article »
Oil Options Volatility Increases for Second Straight Day
Crude options volatility increased for the second day in a row as the futures dropped due to higher dollar that decrease the appeal of raw materials available in the US currency. Implied volatility for at-the-money options expiring... More of this article »