Home » Author Archive

Lyft the Ride-Hailing Business, Partners with Shell and Hertz

Lyft has entered into a partnership with Hertz Global to offer its drivers rental cars, the ride-hailing business said this past week. Daily, weekly as well as monthly rental by Hertz are available as part of a new program for Lyft drivers across Las Vegas, said the VP of partnerships at Lyft Oliver Hsiang. Aimed at Lyft drivers who do not have a vehicle of their own or those that do not meet the standards of Lyft, such as four doors, the new plan will expand to other markets eventually, said Hsiang. He did not offer any timeline. Las Vegas drivers... 
 

FIFA Unraveling Even More

The FIFA front office will be a bit emptier for a while as Sepp Blatter the president and some of his lieutenants were suspended. On Thursday, at the world headquarters of the world’s most popular sport a number of top officials at FIFA were given sanctions by the organization. The disciplinary section of the governing body of world football handed three of its top officials including its president provisional bans of 90 days. Michel Platini the President of UEFA is the head of the body that runs all of European football and the Champions League,... 
 

August Trade Gap Widened in the U.S.

The trade deficit in the U.S. widened during August by its most in the last five months as imports started to pick up and weaker growth overseas limited sales to those abroad. The gap widened by 15.6% to over $48.3 billion from July’s revised amount of $41.8 billion, said the Department of Commerce on Tuesday. The forecast by economists was for the deficit to be $48 billion. Exports of U.S. goods dropped to their lowest level since June of 2011. The U.S. dollar is the strongest it has been in 12 years and weakness is being seen in emerging markets... 
 

Oil Rebounds After Producers Lower Rig Counts

Crude oil rose in price after explorers in the U.S. reduced their rig counts to a low of five years, signaling further production drops. West Texas Intermediate futures bounced after news by Baker Hughes was released that said rigs that targeted oil in the U.S. dropped by 26 this week to 614. Prices fell by as much as 1.7% earlier on data from the government that showed the U.S. had added only 142,000 jobs in September, compared to a gain of more than 200,000 projected by analysts. Oil has stayed close to the $45 per barrel rate for over four weeks... 
 

GM Projecting Record Month as Ford Tops Estimates

Fiat Chrysler Automobiles kept its streak of monthly sales alive as its U.S. deliveries were up 14% during September powered by a 40% rise by Jeep. GM, Nissan, and Ford beat estimates, while Fiat Chrysler and GM projected a sales pace that was faster than the rest of the industry has seen in the past decade. The automaker that is Italian-American reported 193,015 vehicles sold last month, matching the increase predicted by an average of analyst estimates. Sports utility vehicles for Jeep, led by Cherokee record, had their second biggest month every... 
 

Raytheon Wins Cybersecurity Contract for $1 Billion

The Homeland Security Department awarded a huge contract for cybersecurity to Raytheon that is worth over $1 billion. Homeland Security hopes this will help to shore up the defenses of the federal government against the ongoing onslaught of cyber attacks. The contract, one of the biggest civilian orders for cybersecurity in many years, would help over 100 federal civilian agencies protect networks against the malicious hackers. It comes following the most damaging attack in history on the Office of Personnel Management. OPM recently announced that... 
 

Google Uses Android Allegedly to Stifle Its Competition

Google’s dominance is possibly reaching alarming proportions, which is why the Federal Trade Commission in the U.S. might have to step in to ensure other app developers received enough exposure to users of Androids. The investigation has already been given the approval of the Department of Justice and looks to answer a simple question: Is the search engine giving its own apps unfair advantage in Android over apps that are made by other developers. Reports say that Android could be considered a monopoly especially when it comes to apps. Android... 
 

Golden Road Brewing Acquired by Anheuser-Busch InBev

The largest Los Angeles craft brewery, Golden Road Brewing is being purchased by Anheuser-Busch InBev the beer giant. The news of the acquisition first broke on Wednesday morning as many from the craft beer industry from around the nation had convened in the city of Denver for the opening of the Great American Beer Festival an annual trade show that allows attracts thousands. Details of the acquisition were sparse from the press release that announced the deal and were accompanied by a video of Meg Gill the president of Golden Road and Andy Goeler... 
 

Darden Raises Its Guidance on Revenue Increase

Darden Restaurants Inc announced that sales had grown faster than were expected during its most recent quarter as the turnaround of the Olive Garden brands started to gain traction. Olive Garden was helped by its customized lunch options, new sandwiches made with breadsticks and the increased popularity of its takeout option. Sales at same stores at the chain of Italian restaurants increased 2.7% during the recently ended quarter, marking the fourth straight quarter of growth in same stores for the chain. In June, Darden revealed its plans to separate... 
 

Brains Tested of Former Players in the NFL Continue Trend of CTE

Researchers who are researching a degenerative form of disease in ex-NFL athletes say that 11 of the 12 brains of dead former players that were tested during the last year had showed signs of the development of chronic traumatic encephalopathy (CTE) which continues a trend they have tracked. A story on lne Friday said that out of 91 brains examined of former players in the NFL 87 of the had CTE in some stage of development. According to the report, many of the brains of players had been donated for this research had suspected they were suffering... 
 

China Asking Tech Firms to Sign New Controversial Pledge

U.S. tech companies are being pressured by China to agree to many measures that could ultimately force them to hand over their user data to the central government. According to a report in the New York Times, a government agency in China sent letters to tech companies during this past summer requesting they promise that they will not harm the security of China, would store their user data within the borders of China and would make sure products were both controllable and secure. These stipulations could eventually lead to the tech businesses being... 
 

Steep Drop in Output of Autos Lowers Production in Factories

Automakers in the U.S. cut back on production sharply in August, lowering the overall output in factories and highlighting a weak spot in the economy a day prior to a key meeting of the Federal Reserve. Manufacturing production has fallen 0.5% the largest decline since January of 2014, said the Federal Reserve on Tuesday. The drop in output in the autos accounted for the largest part of the decline. Computer, furniture and airplane production also dropped. Policymakers from the Fed will start a meeting of two days on Wednesday, to consider whether... 
 

Compound in Red Wine Helps Slow Progress of Alzheimer’s

A small study found that the compound in red wine called resveratrol, which is also found in dark chocolate and red grapes, might help to slow down the progress of Alzheimer’s disease. Researchers from Georgetown University saw that it affects the biomarker of Alzheimer’s but have cautioned that additional studies were needed prior to resveratrol being recommended for people who have the disease, which to date has no cure. In the study, 120 people who have Alzheimer’s disease took resveratrol in medication form or received a placebo each day... 
 

Cuba Releasing 3,500 Prisoners Prior to Pope Arriving

Cuba announced that it would release over 3,500 prisoners in a gesture of goodwill ahead of a Pope Francis visit. The Caribbean island government in the capital of Havana said those who will be freed include inmates due for conditional releases along with many foreign prisoners. Inmates who are guilty of crimes against the security of the state are not eligible to be released, which would seemingly rule out several political prisoners that are high-profile. The Pope is visiting the island nation for three days next week. According to Granma, the... 
 

McDonald’s: Cage Free Eggs Within Ten Years

McDonald’s is making changes again. The burger chain announced it would be switching to all cage-free eggs within the next decade. According to the United States Department of Agriculture, cage free eggs are from birds that can roam freely inside an enclosed area and do not have limited access to fresh water and food. Last March, McDonald’s announced its commitment to chickens that are raised without any human antibiotics. The company might drop its liquid margarine for real butter, according to new reports that surfaced earlier in the month. The... 
 

Sales Dip for GM during August in China

General Motors Co reported on Monday its largest drop in sales for China in the past five months during August as many global automakers are struggling with a deepening slowdown in the economy and dropping equities in the largest auto market in the world. Sales of vehicles for GM and its partners in a joint venture fell by 4.8% in August compared to the same month last year, while Ford Motor as well as Nissan Motor also reported shrinking sales for August, highlighting the divide between the winners and losers in China’s car market. The figures... 
 

Brain Stimulation Could Ease Motion Sickness Symptoms

A team from Imperial College London said that early trials using 20 people suggested the method of using electricity stimulation of the brain could ease motion sickness symptoms similar to the effect that drugs have but without any drowsiness. The electrical current is able to interfere with messages arriving from part of the ear that controls a person’s balance. Other scientists have urged a healthy skepticism of the study until a larger trial can back the findings. Whether traveling by car, boat or plane motion sickness results from mixed messages... 
 

Haggen Suing Albertsons Following Their Merger

Haggen has filed a lawsuit on September 1 that seeks over $1 billion in damages from the supermarket chain Albertsons. The complaint claims that Albertsons made systematic and coordinated efforts to eliminate competition and Haggen as a competitor in more than 130 local markets across five states. The complaint also said Albertsons made false representations to both the FTC and Haggen about the commitment by Albertsons to a transformation in a seamless merger of the stores into viable competitors under the banner of Haggen. The suit was filed in... 
 

Unemployment in Germany Drops While Manufacturing Gains Momentum

German unemployment dropped during August, while manufacturing increased momentum, signaling that the largest economy in Europe would maintain growth. Joblessness fell by 7,000 on a seasonally adjusted rate to 2.79 million said the Federal Labor Agency located in Nuremberg on Tuesday. The rate of unemployment stayed at 6.4%, while the manufacturing Purchasing Managers’ Index rose from July’s reading of 51.8 to 53.2, which is far above the level of 50 needed to indicate expansion. Germany is ready for a period of solid growth that is supported... 
 

Alnylam New Drug Might Threaten Regeneron, Amgen and Sanofi

An experimental drug made by Alnylam Pharmaceuticals and Medicines Co, was able to cut the bad LDL cholesterol levels amongst patients in a small scale trial by almost as much as the new treatments offered by Amgen Inc, Regeneron Pharmaceuticals and Sanofi, with much less frequency of use. The experimental medication is a member of new treatments that are targeting the protein PCSK9, that allows too much of the bad cholesterol to circulate in blood. The new results were released on Sunday in London. The drug by Alnylam is known as ALN-PCSsc and... 
 

Jobless Claims in U.S. Remain Close to Historic Lows

The number of people in the U.S. seeking unemployment benefits last week for the first time fell, suggesting the U.S. labor market has remained healthy. The initial claims for jobless benefits a proxy for countrywide layoffs in the U.S. dropped by 6,000 to 271,000 for the week that ended on August 22, announced the Labor Department on Thursday. The drop comes following four consecutive weeks of increases. Economists estimated that there would be 273,000 claims. The Department of Labor said no special factors existed that impacted this most recent... 
 

China Lowers Interest Rates and Reserve Ratio

The central bank of China cut its interest rates as well as lowered the amount of reserves that banks are required to hold. This was the second time in the past two months the central bank has done this. The hope of the bank was to ratchet up support for a sputtering economy and a stock market that has plummeted sending a rippling affect across the globe. The moves come after stocks in China tumbled again Tuesday, as investors despaired at what they called a lack of policy action by Beijing in response to the recent data that suggested a downturn... 
 

Boy Born Without Ears Receives New Pair in Surgery

For most of the kids, the first day of school is to show off their new clothes and explain to their friends what they did during the summer. However, for Eli Bell an 8-year old, it was about showing of a new pair of ears. Aaron his father said all his son had before his surgery was pieces of cartilage. He said his son had been born without any ears, which is a condition known as Bilateral Microtia. Bell said that he and his wife had no idea their son would be born with the condition. They both knew that reconstructive surgery was needed by were... 
 

Canadian Inflation Measure Up 1.3% during July

Annual inflation in Canada increased at a faster rate in July due to high costs for items than were imported like cars and food that offset the lower prices of gasoline and energy. The all-items consumer price index for Canada was up 1.3% during July from the same period one year ago, said the government agency Statistics Canada on Friday, matching the expectations in the market. During June, the CPI was up 1%. At the same time, the annual rate of core inflation, which excludes the volatile components such as energy and food prices was up in July... 
 

American Eagle Sees Growth in Comparable Store Sales

American Eagle Outfitters the retailer for teen apparel reported its best growth in comparable sales in the past 13 quarters helped by a broader range of merchandise and less discounts. American Eagle, unlike its rivals Abercrombie & Fitch and Aeropostale has managed to win shoppers back by improving merchandise to reflect the trends such as bohemian and festival inspired tops and dresses, shirt dresses as well as denim pencil skirts. The company announced it had benefited as well from moving away from its clothing that was logo centric, which... 
 

Jason Day’s Failures Prepared Him for Winning the PGA Championship

Australian Jason Day believes that the previous near misses on the golf course prepared him to keep his nerves in check so he could win Sunday’s PGA Championship at Whistling Straits in Kohler, Wisconsin. The 27-year old had finished in top four of six previous majors prior to his win on Sunday. Day told reporters he has seen a number of mental coaches, but the biggest thing preparing him for something such as Sunday’s win was the experience he has had facing failure. Day won the event on Sunday with a score of 20 under par, breaking a major... 
 

North Dakota Oil Production Holding Its Own

North Dakota is doing well as far as oil producing is concerned, despite the huge drop in the price of oil and predictions the shale boom in the U.S. was soon fade. The Department of Mineral Resources in North Dakota released a new report that put the oil output for the state at 1.21 million barrels per day during June, which is the second highest rate for a month ever recorded. North Dakota set another monthly record for the production of natural gas during June at 1.6 million cubic feet. Production from the Bakken Shale in North Dakota has slowed... 
 

General Mills Partnering With Brewery to Make HefeWheaties

General Mills will partner with Fulton a microbrewery in Minneapolis to launch a limited edition, wheat, German-styled beer HefeWheaties that will look to capitalize the iconic brand of the food giant. Wheaties are not ingredients in the new beer but its label will mimic the usual orange Wheaties box although without the signature photo of an athlete on the front. The collaboration of Fulton and General Mills grew from the fact a few of the founders of the microbrewery also worked at General Mills, which is headquartered in Minnesota’s Twin... 
 

Burger King Joins Trend Toward Spicy With Fiery Chicken Fries

Burger chain Burger King hopes some heat helps it finish off its summer with some strong sales. After chicken fries played a big part in boosting sales of same-stores by 6.7% during the second quarter, Burger King will introduce a spicy version of this cult favorite in the U.S. during this week. The thin fried chicken strips are flavored with black and cayenne pepper and were created to appeal to the spice seekers, said the CMO of the burger maker Eric Hirschhorn. He added that they wanted to make sure it work for people who like to eat spicy food,... 
 

Netflix Extends Maternity and Paternity Leave to One Year

Netflix announced last week that it was changing it leave policy for maternity/paternity to give new parents as much time off, which is paid, as they need in the first year following the birth of their baby or when they receive one who is adopted. This move comes as Microsoft was updating its policy for maternal/paternal. It was reported that Microsoft would extend its paid leave for mothers and fathers to 12 weeks, with an option of an additional eight as maternity disability leave. In a prepared statement on Wednesday, Microsoft announced that... 
 

Hershey Posts Flat Sales for the Quarter, Forecast Cut

Hershey Co the chocolate maker reported sales that were flat for the quarter for just the first time in over five years, as its volumes dropped in North American due to hikes in price and demand was weaker across China. The maker of Reese’s Peanut Butter Cups and Hershey’s Kisses also lowered its sales forecast for the full-year. It was the fourth time the company has cut its sales forecast. Slowing growth in the China economy has weakened the spending on consumer items that are non-essential, including Hershey’s Kisses, which make popular... 
 

Time Warner Keeps Profit Forecast for Full Year

Time Warner Inc was down over 4.1% as the huge media company kept its profit forecast for the full year unchanged following an earnings report that topped estimates of analysts by a hefty margin during the last quarter. Maintaining their guidance following earnings for the second quarter of 22 cents per share higher than the predictions suggests that the estimates for the second six months of the year might be too high to reach, said one Wall Street analysts. Shares were down 2.7% as of 10:00 a.m. Wednesday morning. The release of Batman: Arkhaam... 
 

Noble Energy Beats on Profit as Production Increases

Gas and oil producer Noble Energy Inc reported a profit for the quarter that was better than had been expected as higher production was able to offset the huge impact of a drop in the price of crude. Noble announced on Monday that total sales volumes were up 3% for the quarter to just over 299,000 barrels per day of oil equivalent. The company raised its forecast for sales volume for the rest of 2015 to between 305,000 and 320,000 from its prior forecast of between 300,000 and 315,000. Noble and other companies that produce gas and oil have used... 
 

Bank in Colorado Suing Fed Over Marijuana

A bank in Colorado sued the U.S. Federal Reserve, as the federal agency did not give permission to the bank to provide financial services to businesses that are dealing in marijuana. Denver’s Fourth Corner Credit Union filed its suit on Thursday against the Federal Reserve’s Kansas City branch, which supervises all banks in Colorado. That branch denied the request of the Fourth Corner to allow it to operate within the federal banking system. In 23 states, medical marijuana is now legal and in Colorado, Oregon, Washington, Alaska and the District... 
 

Whole Foods Hit by Bad Press on Overcharging

Shares at Whole Foods tumbled on Thursday after the grocer posted bad news in its earnings report for the quarter. The company announced soft sales growth in comparable stores, admitting that bad press that surrounded a recent scandal related to overcharging had weighed on its sales during a time when it has been struggling to compete against the huge proliferation of organic and natural offerings at other grocers that are more mainstream. It also missed estimates on earnings on both its top line and bottom and gave guidance for its fourth quarter... 
 

GrubHub Increases Its Outlook for 2015 as Profit Surges

GrubHub Inc announced on Tuesday that it raised its guidance for the 2015, as the food ordering and delivery online company reported that earnings had soared during the second quarter. For the full year, GrubHub is projecting its earnings prior to taxes, interest, amortization and depreciation will be between $104 million and $112 million, with revenue reaching between $358 million and $364 million. Those figures are up from its estimate previously of between $101 million and $109 million with revenue of between $346 million and $361 million. For... 
 

Amazon Passes Walmart in Market Value

When Amazon posted its earnings for the second quarter investors were looking for one thing – profit. Amazon did not disappoint sending the price of its stock up nearly 19% during trading after hours and securing its new place as the world’s largest retailer by market capitalization, knocking the former holder of first place, Walmart, down a notch from the perch it held for a number of years. The company was valued during trading after hours on Thursday at $267 billion and Walmart was sitting at $233.5 billion. The increase in share value reportedly... 
 

U.S. Jobless Claims at a Four Decade Low

The fewest Americans in the past four decades filed last week for benefits of unemployment, continuing to lower the surge of early July that was likely tied to the mid-year shutdowns in factories and vacations at schools. Jobless claims plummeted to 255,000, a drop of 26,000 for the week ending July 18, the fewest claims since November of 1973, said a Labor Department report in Thursday. The forecast of economists was for 278,000. The volatility is typical during this part of the year as auto factories retool to prepare for the new models for the... 
 

Harley-Davidson Sales Stall Causing Earnings to Sputter

On Tuesday, Harley-Davidson said revenue and profit slid during the most recent quarter, although earnings were still better than what Wall Street had expected. Shares, which slid this year by 17%, were up Tuesday 3.6% in trading before the bell. The company, based in Milwaukee, said that worldwide dealer sales of its new motorcycles were lower by 1.4% during the quarter that ended during June, in comparison to the same period one year ago. Dealers in the U.S. sold 57,790 motorcycles, which was down from last year during the same period of 58,220,... 
 

T-Mobile Paying $17.5 Million for FCC Investigation

T-Mobile was ordered to pay a fine of $17.5 million after it did not comply with the FCC standards as well as not notifying the regulatory agency of two specific outages in August of 2014 of the mandatory service of 911. This in turn has caused the company to become under much scrutiny and facing mandates changes. On July 17, the Federal Communications Commission announced the $17.5 million T-Mobile fine for not addressing the two national outages that lasted close to three hours in duration on August 8 of 2014 that affected the response communications... 
 

Honeywell Profits Pass Estimates Thanks to Cost Controls

Honeywell International Inc has posted an increase that was better than had been expected for quarterly profit as the climate control systems and aircraft parts maker reined in its costs amidst declining sales. Shares of Honeywell were up 3% in trading on Friday after the company raised its low end of its forecast full-year earnings. The company, which has amongst its customers Bombardier and Boeing Co, has slashed jobs and sold or merged a number of businesses to lower costs. Honeywell’s expenses fell by 7% during the quarter, lifting its operating... 
 

Greek Pharmacists and Civil Servants Go on Strike

Pharmacists shuttered their businesses in Greece Wednesday, while civil servants walked off the job protesting against the new bailout agreement that saved Greece from going bankrupt but imposed strong reform in a nation already racked with crisis. Protesters were marching against the austerity measures in Athens on Wednesday holding banners that read “Cancel the Bailout” and “No to the EU, IMF and EU” policies. However, just a few thousand showed up for the early rallies. There were more marches planned for later Wednesday but opposition... 
 

Lego Bricks Finally Getting First Makeover in Decades

The ease of working with the interconnected bricks by Lego is the big reason the toymaker based in Denmark is one of the largest companies in the sector today. However, Lego is on a quest of 15 years in tinkering with such success. Lego has put together a team to find the bio-based alternative to its plastic that is petroleum based that it has been using for decades. The blocks have become a huge contributor to the carbon footprint of the company. The story was first told by a large national newspaper in the U.S. Lego in June committed more than... 
 

Diabetes Affects Brain Function and Thinking Skills

A study that has just been published in the online journal Neurology indicates that people suffering from type 2 diabetes also demonstrate a drop in cognitive skills as well as the ability to regulate their blood flow to their brain. This is due partly to inflammation, which is one of type 2 diabetes’ common components. Normally, blood is distributed by the brain as needed to areas where there is increased neural activity, In people that suffer from diabetes however, that process can become impaired. For the recently published study, researchers... 
 

PepsiCo Revenue and Profit Beat the Street

PepsiCo Inc has reported quarterly sales and profit that was better than had been expected. The soft drink beverage maker raised its forecast for adjusted earnings for the year as its higher prices have helped drive its revenue growth in the beverage business for the second time in close to four years. The shares at PepsiCo were up 3% in trading just after the bell on Thursday. PepsiCo like other makers of soft drinks has been battling dropping sales in soda in the U.S. with customers opting for drinks that are healthier and more ingredients that... 
 

FBI Reportedly Raids Home of Jared Fogle Subway Spokesman

State and federal investigators reportedly served a search warrant at the home of Jared Fogle in Indiana Tuesday morning. Fogle is a spokesman for Subway who famously was able to lose over 200 pounds by eating only the sandwiches made by the company. Sources at the FBI told a local television stations that the Tuesday raid had been part of an investigation into child pornography. It comes after Russell Taylor the former Jared Foundation director was arrested on charges of child pornography earlier in 2015. Taylor was in custody on May 6 when he... 
 

Toshiba Markdown on Profit Nearly Doubles Its Prior Estimate

Toshiba Corp will likely mark down its operating profit from the past by as much as 100 billion yen or $814 million, which is nearly double its estimated restatement made earlier, due to accounting irregularities, said a person close to the situation. In what could be shaping up to be the biggest Japan corporate debacle since the Olympus Corp one in 2011, an independent Toshiba appointed panel has investigated the electronics giant’s infrastructure after a financial watchdog in Japan warned of possible irregularities in finances during February. Toshiba... 
 

Prices of Oil Fall on Shale Supply

Oil prices dropped on Friday over concerns of the resilient crude production in the U.S. and a deal between the West and Iran that would unlock millions of barrels of oil to the world market that is already oversupplied. The number of oil drilling rigs in the U.S. increased this week by 12 to reach 640 snapping a run of 29 consecutive weeks of declines. The rig count, which investors see as proxy for oil industry activity, has dropped sharply since the prices of oil headed downward in 2014. The oil output in the U.S. however has been strong and... 
 

Profit at General Mills Cut in Half by Impairment Charge

General Mills Inc, which makes Betty Crocker brownie and cake mixes and Cheerios cereal, said profit for the fourth quarter halved due to recording a charge of $260 million to write down its value of one of its canned and frozen vegetable businesses. An assessment of its brand Green Giant, showed the market value of the business was lower than it the carrying value, announced the company on Wednesday. General Mills put Green Giant up for sale in March, said people close to the matter. Shares at the company were up 0.5% to $56 in light trading early... 
 

Pending Home Sales in U.S. Reach Nine Year High

This is the latest sign that the housing market will gain traction following a shaky start to this year. An indicator that is forward looking of home sales was up to its highest level for the past 9 years during May. On Monday, the National Association of Realtors said its index for pending home sales was up 0.9%, its highest mark since April of 2006. This index tracks the signing of contracts, which usually will close within a two-month period. The index for April was revised downward by the NAR. Economists had estimated that the increase in May... 
 
© 2006-2019 Zolmax.