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Standard & Poor’s Settles SEC, State CMBS Claims For $80 Million
Standard & Poor’s has agreed to pay about $80 million to state and federal authorities to settle claims that it acted inappropriately in its dealings in the commercial-mortgage bond market. The company has been facing accusations... More of this article »
JPMorgan Chase Spends Big On Legal Costs In Fourth Quarter
JPMorgan Chase (NYSE:JPM) reported that it spent more than $1 billion on legal costs in the fourth quarter of its fiscal year. Most of the legal costs were due to the bank defending itself from multiple investigations from government... More of this article »
Google To Launch Auto Insurance Comparison Tool
Google (GOOG) is aiming to make it easier for consumers to find the right types of car insurance for them. Information has been announced that the company would be launching an auto insurance comparison tool in several states that... More of this article »
Amazon Angers Authors Again With New Offering (NASDAQ:AMZN)
Amazon has released another new service, but not everyone is happy about it. Authors are upset that Amazon’s new Kindle Unlimited program has slashed the income that the authors are seeing from sales of their books in digital format.... More of this article »
LG Headquarters Raided By Law Enforcement Over Samsung Spat
Law enforcement officials in South Korea have conducted a raid on the headquarters of LG Electronics (OTCMKTS:LGEAF) searching for evidence that its executives damaged products belonging to Samsung Electronics during a trade fair held... More of this article »
U.S. Subsidies To Boeing Illegal, According To European Commission (NYSE:BA)
The European Commission has charged that the subsidies being given to Boeing by the United States are illegal, according to a trade case filed by the Europeans. The U.S. is accused of funneling billions of dollars in illegal subsidies... More of this article »
Apple Influence Caused Higher Prices For Customers In Canada (NASDAQ:AAPL)
Canadian regulators have reported that customers that purchased smartphones and accompanying services in Canada may have paid more for these items because of agreements Apple Inc. reached with phone carriers serving the nation. Because... More of this article »
Sears Records Another Loss For Third Quarter (NASDAQ:SHLD)
For the third quarter of its fiscal year, Sears Holdings has posted another loss, marking four straight years of losses and eight straight years of sales declines. The company reported that revenue declined 13 percent when compared... More of this article »
Hewlett-Packard Reports Profit Decline For Q4 (NYSE:HPQ)
Hewlett-Packard reported a decline in profit for the fourth quarter of its fiscal year. The company reported revenue of $28.4 billion for the fourth quarter, 2 percent below a year earlier. Net earnings dropped 6 percent to $1.3 billion... More of this article »
Apple Settlement To End E-Book Case Accepted By Court (NASDAQ:AAPL)
Judge Denise L. Cote of Federal District Court in Manhattan has approved a settlement proposed by Apple to end a case concerning the violation of antitrust laws with regards to setting e-book prices. Apple was accused of conspiring... More of this article »
Nintendo Releases Retro-Styled 2DS For Holiday Season (NTDOY)
Nintendo has announced that it has revamped the style of the 2DS handheld gaming system, with the new designs scheduled to be available for purchase during the 2014 holiday season. In the United States market, the new devices are scheduled... More of this article »
Apple Pay Release Off To A Rocky Start (NASDAQ:AAPL)
Since the release of Apple Pay, there have been several news stories about the rocky rollout of the service. Several companies that initially said they would accept payments through the service backtracked and now say they will no... More of this article »
Google Leading The Race For Fast Track Patents (NASDAQ:GOOGL)
Google Inc. has been making extensive use of a government program administered by the U.S. Patent and Trademark Office that expedites patents for businesses willing to pay an additional fee for the service. The fast-track program,... More of this article »
New Apple iPads Introduced (NASDAQ:AAPL)
Apple has released two new iPad designs in efforts to reignite sales of the popular tablet computing devices. Apple’s chief executive, Timothy D. Cook, unveiled the new devices in front of journalists and Apple employees at the company’s... More of this article »
Monsanto Records $156 Million Loss For Fourth Quarter (NYSE:MON)
Monsanto Co. reported that the company recorded a loss of $156 million in the latest quarter, a loss that was considerably higher than expected. The loss amounted to about 31 cents per share. Analysts expected a loss of around 24 cents... More of this article »
Amazon Warehouse Business Practices Under Scrutiny From Justice Department (NASDAQ:AMZN)
The Supreme Court is poised to hear arguments regarding some of Amazon’s employment and business practices regarding workers in their large warehouse units. A class action lawsuit was filed in 2010 alleging that Amazon and its contractors... More of this article »
Cancer Drug From Roche Shows Promise For Increasing Lifespan
A cancer drug developed by Swiss drug maker Roche has shown promise in significantly extending the lifespan of the patients treated with it in clinical trials. The cancer drug, named Perjeta, is used to treat cases of advanced metastatic... More of this article »
Blackberry Announces $207 Million Loss In Second Quarter (NASDAQ:BBRY)
Blackberry has announced that the company ultimately loss $207 million in the second quarter of its fiscal year. The company reported revenue of $916 million for the quarter, $50 million less than revenue reported in the first quarter... More of this article »
Coca-Cola Pledges To Limit Calories In Popular Drinks (NYSE:KO)
Coca-Cola has pledged to take action against the American obesity epidemic by limiting the amount of sugary calories in many of its popular drinks. The pledge was made at the 10th annual Clinton Global Initiative held in New York.... More of this article »
Facebook Valuation Rises To More Than $200 Billion (NASDAQ:FB)
Facebook is now one of the world’s biggest companies with an estimated valuation of more than $200 billion. According to data compiled by Bloomberg, the current valuation of the company is $201.6 billion, making it the 22nd- largest... More of this article »
Royal Dutch Shell Plans To Resume Arctic Drilling (NYSE:RDS.A)
Drilling for oil in the Arctic waters off Alaska is set to resume as Royal Dutch Shell has submitted new plans for the operation. The plan submitted to the federal government outlines how Shell intends to explore for oil in the Chukchi... More of this article »
Ralph Lauren Announces New Wearable Technology Line (NYSE:RL)
The Ralph Lauren company has announced the development of a line of wearable technology that will be unveiled to the public during the U.S. Open. The goal of the new product line was to make products that did not compromise appearance... More of this article »
‘Blackfish’ Documentary Blamed For Lower Profits At SeaWorld (NYSE:SEAS)
SeaWorld Entertainment is pointing the finger at a documentary released last year called “Blackfish” for lower attendance and profit for the second quarter of the fiscal year. The documentary focused on the theme park operator’s... More of this article »
Strong Competition Weighs Down Samsung’s Results (LON:BC94)
Samsung Electronics’ quarterly report has increased worries among investors about the company’s ability to keep growing in a market full of stiff competition. Samsung reported that its operating profit dropped 24.6 percent to 7.2... More of this article »
Procter & Gamble Trims Its Brand List (NYSE:PG)
Procter & Gamble will reportedly be trimming its list of brands by around 100 brands. The company has been focusing on improving its financial performance and wants to narrow its offerings to its most popular brands. According... More of this article »
McDonald’s Ruling Has Far Reaching Implications For Many Industries (NYSE:MCD)
A ruling against McDonald’s handed down by the general counsel of the National Labor Relations Board may have far reaching implications in a number of industries. The ruling held that McDonald’s could be held jointly liable for... More of this article »
General Motors Reports Disappointing Results After Safety Troubles (NYSE:GM)
In the second quarter, General Motors’ earnings dropped nearly 85 percent when compared to the same quarter last year. Much of the decline has been blamed on the recall crisis that has been affecting the company for months. The current... More of this article »
Coca-Cola Announces Disappointing Second Quarter Results (NYSE:KO)
Coca-Cola Co has announced their second quarter results, reporting that profit fell in the second quarter. The company’s net income fell to $2.60 billion, or 58 cents per share, from $2.68 billion, or 59 cents per share, in the... More of this article »
Joint Venture Between Exxon Mobile And Russian Company Reports Progress (NYSE:XOM)
Exxon Mobile, in conjunction with a Russian state energy company, has announced that the joint venture between them is making progress in its exploration of the Arctic Ocean for oil and natural gas. An Exxon drilling rig will be prospecting... More of this article »
Layoffs Hit Microsoft Employees Hard (NASDAQ:MSFT)
Microsoft has made an announcement that the company will be laying off up to 14% of its workforce, possibly leaving up to 18,000 employees without a job. This would represent the largest layoff in the company’s history. Microsoft’s... More of this article »
New Amazon E-Book Subscription Service Raises Some Eyebrows (NASDAQ:AMZN)
Amazon has unveiled a new e-book subscription service, but the titles that are missing from the service have raised some eyebrows. For $10 a month, the new digital subscription service, dubbed Kindle Unlimited, allows subscribers to... More of this article »
IBM Explores Additional Business Options In China (NYSE:IBM)
IBM has announced its intentions to explore business opportunities in China outside of its core technologies. IBM is planning to provide systems to the country that will improve China’s data collection, monitoring and forecasting... More of this article »
General Motors Hesitant To Issue Yet Another Recall (NYSE:GM)
General Motors has been asked to issue yet another recall of its vehicles, this time for trucks that can have a problem with their brake lines. At issue is 1.8 million full-size pickup trucks and sport utility vehicles that could experience... More of this article »
T-Mobile Customers Potentially Overcharged Millions (NYSE:PCS)
T-Mobile has been accused of overbilling its customers hundreds of millions of dollars in charges for services the customers never requested. The Federal Trade Commission claims that T-Mobile earned millions of dollars by taking a... More of this article »
Google Sanitizing Web Searches In Compliance With European Ruling (NASDAQ:GOOGL)
Google has announced that it has begun the process of scrubbing links from the web search results displayed when users type in certain search terms. Due to a European court ruling, individuals can now ask for links to information about... More of this article »
General Electric Reaches Deal For Alstom Assets (NYSE:GE)
After nearly two months of negotiations, General Electric has announced that the company has reached a deal to purchase Alstom for $13.5 billion. G.E. is adding Alstom’s steam turbine factory in Belfort and a gas turbine plant in... More of this article »
Reports Of Another General Motors Recall Increases Safety Concerns (NYSE:GM)
General Motors has announced new recalls affecting more than half a million more vehicles, adding to the mounting toll of its safety crisis. In the largest new recall, the company is recalling 392,459 full-size pickup trucks and sport... More of this article »
BlackBerry’s Earnings Ease Concerns About Stability (NASDAQ:BBRY)
Over the past few years, investors have gotten used to BlackBerry’s relentlessly grim financial results. So for many of them, the smartphone company’s most recent earnings report was a pleasant surprise. The company reported a... More of this article »
Google Announces $500 Million Purchase Of Skybox Imaging (NASDAQ:GOOGL)
Google has made an announcement detailing its agreement to purchase Skybox Imaging for the price of $500 million. Skybox, a provider of high-quality satellite images, was founded in 2009 by four Stanford business school students under... More of this article »
JetBlue Reveals New Value-Priced Business Class Service (NASDAQ:JBLU)
To lure more business class fliers, JetBlue has created a new value-priced business class service named Mint. The new service is being launched on coast-to-coast flights between New York and Los Angeles or San Francisco starting this... More of this article »
Sprint, T-Mobile Deal Hinges On Approval Of Skeptical Regulators (NYSE:S) (NYSE:PCS)
Sprint and T-Mobile USA have reportedly settled on the terms of a $32 billion deal to merge the two companies. The deal’s supporters say that instead of reducing the number of competitors in the wireless phone industry, it would... More of this article »
Netflix And Verizon Trade Barbs On Streaming Delays (NASDAQ:NFLX) (NYSE:VZ)
People streaming shows on Netflix may have noticed a message on the screen from the company blaming Verizon for slowing down their streaming speed. Journalist Yuri Victor, who noticed the on-screen message as he began to stream a television... More of this article »
Chemical Safety Board Finds BP’s Fixes Inadequate (NYSE: BP)
In 2010, a disaster at BP’s Deepwater Horizon rig in the Gulf of Mexico dumped millions of gallons of oil into the sea and killed 11 workers. Since the incident, the principal government regulatory agency monitoring offshore drilling... More of this article »
IBM Lab Mistake Creates New Lightweight Materials (NYSE:IBM)
Jeannette M. Garcia has worked as a research chemist at an IBM laboratory for years developing recyclable plastics that are stronger and better for the earth. On one of her days of mixing and heating chemicals, she left one step out... More of this article »
Sears Continues To Report Financial Problems (NASDAQ: SHLD)
Analysts are expecting Sears to announce dismal fiscal first quarter results and possibly more store closings. In the past year, Sears has closed nearly 100 stores in the United States. John Kernan, an analyst with Cowen, said, “They... More of this article »
General Motors Inquiry Concentrates On Legal Team (NYSE:GM)
The legal department of General Motors has become a focus of a broad internal inquiry into how the company handled a vehicle safety issue linked to 13 deaths. The failure of ignition switches caused Chevrolet Cobalts and other cars... More of this article »
Profit At Airbus Exceeds Expectations (EPA: AIR)
Airbus Group, the European aerospace giant, reported a better-than-expected profit for the first quarter. Net profit for the three months to March 31 almost doubled to a reported 439 million euros, or $602 million, from €227 million... More of this article »
New Low-Cost Smartphone Revealed By BlackBerry (NASDAQ:BBRY)
BlackBerry unveiled a new smartphone model that it intends to release in emerging markets in Asia and South America. The new BlackBerry Z3 smartphone was produced by BlackBerry in partnership with the Foxconn Technology Group of Taiwan.... More of this article »