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‘All Natural’ Claims Spur Lawsuit Against PepsiCo’s Tropicana Brand (NYSE: PEP)
Orange juice maker Tropicana has found itself facing lawsuits claiming that the company’s ‘all natural’ claims are false and misleading. Lawsuits filed across the nation claim that the company’s juice has been so heavily... More of this article »
Research in Motion Reeling From Financial Results
Research In Motion, the Canadian based maker of Blackberry smartphones and the PlayBook tablet could see its cash dry up and fail, even with the proposed launch of its Blackberry 10 early next year, says Wall Street analysts. The price... More of this article »
Barclays to pay $450 million to End Probe
Barclays announced it would pay out over $450 million to regulators in the United States and the United Kingdom to settle allegations that employees tried to manipulate the interbank lending rate in London that is the rate for over... More of this article »
Cereals Are More Nutritious
A new report says that kids’ cereals have become more nutritious in the past few years. However, cereal companies have made more ads for the cereals that are the least nutritious. The Yale University report says the companies are... More of this article »
Global Markets Fall on Bad News
World markets were mired in sell offs on Friday after hearing bad news about German confidence and Moody’s downgrading of another 15 banks. After trading closed in the U.S. on Thursday, Moody’s downgraded 15 major banks including... More of this article »
G.M. Offers Lump Sum Payments To Lower Pension Obligations (NYSE: GM)
General Motors has announced plans to reduce its pension obligations by offering lump sum payments to thousands of white-collar retirees. Legal changes that went into effect this year provides a way for companies to offer lump-sum... More of this article »
Proctor & Gamble Cuts Forecast
The largest consumer-goods company in the world, Proctor & Gamble saw its stock decline after announcing it was cutting its forecast for revenue and earnings for the second time in just the last two months. The company said it... More of this article »
Walgreens Buys Stake for $6.7 billion in Alliance Boots
Walgreens the American pharmacy chain has agreed to purchase a stake of 45% in the European pharmacy retailer Alliance Boots for $6.7 billion. The deal has a clause that would allow the U.S. pharmacy chain to take complete control... More of this article »
Adidas Takes Shackle Shoe off the Market
Despite defending the design of the shoe, Adidas has decided not to release the JS Roundhouse sneaker that has been criticized for being racist. Only hours after the company had defended the shoe’s design against racism accusations,... More of this article »
Yamaha To Buy Gold Mine for $404 Million
Yamaha Gold is the third largest producer of gold in Canada by market value. The company has agreed in principle to purchase Extorre Gold Mines to expand into Argentina for $404 million in cash and stock. Extorre stockholders will... More of this article »
Lockheed Announces Plans To Replace Striking Workers (NYSE: LMT)
Lockheed Martin announced that it had hired 300 temporary workers to replace striking union employees at its Fort Worth plant. 3,300 union workers went on strike on April 23. The workers are striking over the company’s proposed... More of this article »
Cuba Allows Advertising on its road to Capitalism
For over fifty years, Cubans have not seen or heard commercial spots on TV or radio, likewise for website banners, billboards and newspapers. President Raul Castro has allowed limited free market reform but one thing is to have your... More of this article »
Burger Kings Launches New Venture
Burger King has formed a new joint venture in China to open over 1,000 restaurants within the next five to seven years. The chain is looking to gain new ground in key emerging growth markets. The fast food giant said it entered into... More of this article »
Manufacturing Declines in U.S.
Output of U.S. Manufacturing declined during May. It was the second time in the past three months the sector has contracted. An important gauge for manufacturing for New York dropped sharply in the first two weeks of June as well,... More of this article »
Low Cost Airlines Lead in Customer Service
Low cost airlines may not always live up to their names for fares or fees, but in customer satisfaction, they are much further ahead than their larger competitors are. On Wednesday, the latest annual J.S. Power and Associates Customer... More of this article »
Slow Down in Spending Seen by Weaker Retail Sales
For the second consecutive month, retail sales in May fell. In addition, wholesale prices declined by the most in 36 months, which offers more evidence of a slowdown in the recovery of the economy. Retail sales dropped by 0.2% as building... More of this article »
Spain both Angry and Relieved over Bank Rescue
The economy of Spain is expected to worsen this year despite the financial lifeline of close to $125 billion the European Union is giving the country to help saves its financial institutions, Mariano Rajoy Spain’s Prime Minister... More of this article »
Chesapeake Liquidating Pipeline Assets for $4 billion
Chesapeake Energy Corp will sell off its pipeline and assets relating to it, in three individual transactions. The all three transaction are to the same purchaser – Global Infrastructure Partners. The company is trying to find a... More of this article »
Bailout Plan for Banks Unveiled in Europe
An announcement was made by the European Union on Wednesday that outlined a bank union continent-wide that would help deal with crisis’ in the future in banking, instead of leaving them to the already struggling governments in each... More of this article »
Costner and Baldwin in Court
Kevin Costner and fellow actor Stephen Baldwin were in court on Monday to start a legal battle. The drama was a real-life court battle between the two actors. Jury selection started in the case where Baldwin alleges that Costner duped... More of this article »
Two Accused of $500 Million Fraud
Federal prosecutors, in one of the country’s largest financial-fraud cases, announced in Chicago that a former head trader and CEO from a bankrupt firm had been charged with defrauding over 70 clients out of over $500 million. Eric... More of this article »
Jobless Claims Increase, Private Jobs add 133,000
New unemployment claims increased last week for the fourth consecutive week heightening concerns the recovery in the labor market is softening. During May, private employers also added just 133,000 jobs, which was fewer than anticipated.... More of this article »
Oil Drops to Seven-Month Low
The price of oil dropped to less than $89 per barrel on Wednesday hitting a low of seven months as sovereign debts woes in Europe pushed markets lower. The price of oil in New York dropped to $87.90 as of 12:30 pm, down close to $2.80... More of this article »
Air France Announces Plans To Cut Jobs And Streamline Operations (PINK: AFLYY)
Air France announced plans to reduce staff and reduce its short- and medium-distance fleet in an effort to cut costs. The airline said that services that are losing money and are deemed as having no prospect of making money would... More of this article »
Spain Sees Borrowing Costs Increase More
The concerns over the ability of Spain to fix its ailing bank system, while simultaneously trying to fix its shaky interior regions and reduce a gaping hole in its budget has helped send the cost of borrowing by the country to record... More of this article »
Swiss Make Plans for Possible Euro Demise
Switzerland might introduce controls on capital to fight the spike in the Swiss franc in case a collapse takes place in the euro zone. The measures are ones the nation has not put into place since the 1970s. A potential exit by Greece... More of this article »
HP To Eliminate 27,000 Jobs To Save $3.5 Billion Per Year (NYSE: HPQ)
Hewlett-Packard Co. has announced plans to cut 27,000 jobs in an effort to turn around the ailing company. This would be the largest payroll purge in HP’s 73-year history. The job cuts and other austerity measures are expected... More of this article »
Hewlett Packard Slashes 27,000 Jobs
On Wednesday, PC maker Hewlett-Packard announced it was cutting 27,000 jobs in a maneuver that was highly expected. HP hopes the cuts will help slim down the company and lower costs. The layoffs total 8% of the entire HP workforce... More of this article »
World Markets Tumble on Wednesday
Due to worries over China and Greece, world markets plummeted on Wednesday, as European leaders are set to meet to discuss Greece. Signs from China also tested the anxiety of investors, as the world’s second largest economy looks... More of this article »
Stocks Up As G8 Pledges Growth
On Monday, global stocks were up off their lows for 2012 and oil was on the rise again after four sessions of falling. World leaders from the G8 said they will support growth in the euro zone and China emphasized that priority should... More of this article »
Hewlett-Packard Expected To Cut Over 25,000 Jobs
Hewlett-Packard is said to be considering eliminating 7% of its employees or roughly 25,000 workers. The PC maker needs to slash its costs to cope with the decline in sales of computers and services. The cuts might include up to 15,000... More of this article »
Stocks Fall On All Global Worries
On Wednesday, U.S. stocks dropped and the euro was lower on news that a number of Greek banks will need emergency funding, while minutes from the Federal Reserve meeting in April showed that prospects for the recovery of the U.S. economy... More of this article »
J.C. Penney Sees Stock Drop
Retailer J.C. Penney gave its investors two good reasons to sell off on Tuesday. The retailer announced it was suspending its stock dividend and said sales were plummeting. The budget conscious retailer said sales dropped by nearly... More of this article »
Trading Halted on 379 Stocks by SEC
On Monday, the SEC shut down the trading of close to 400 microcap stocks. The Security and Exchange Commission launched their biggest effort to date to crack fraud before it takes place through the use of shell companies. The SEC is... More of this article »
Societe Generale Sees 20% Drop In Profits In First Quarter (PINK: SCGLY)
Société Générale announced that its first-quarter net income decreased 20% from the same quarter a year earlier. The French bank said that its first-quarter net income fell due to unloaded assets and booking a charge on the cost... More of this article »
First JPMorgan Executive Gone After Trading Losses
The executive, who was responsible for the JPMorgan Chase trading strategy and one of the highest-ranked women on Wall Street, became the first casualty on Monday of the bank’s huge $2 billion loss in trading. The Chief Investment... More of this article »
China Lowers Bank Reserves to Boost Economy
The Chinese government’s central bank lowered the amount of reserves a bank must maintain. The Saturday announcement opened the door for over $63.5 billion dollars in the banking system to be used for loans. The government hopes... More of this article »
Federal Case Costs Omnicare $50 million
Omnicare announced it would pay out $50 million to settle the allegations it incorrectly dispensed medications for patients in nursing homes without signed prescriptions by a doctor since 2007. Steven Dettelbach a U.S. Attorney told... More of this article »
Bank Shares Hit Thanks to JPMorgan
The multi-billion dollar loss suffered by JPMorgan Chase helped drag down other bank stocks in early morning trading on Friday. The blunder by JPMorgan undermined the confidence of investors in other finance firms in Wall Street. The... More of this article »
Sony Loses $5.6 billion
Sony Corp announced on Thursday that it had posted a loss of $5.6 billion for the year. The record loss for the fiscal year is due to overall global turmoil economically, the long term after affects of the earthquake and tsunami that... More of this article »
President of Ohio State Has Travel bill exceeding $840,000
The University of Ohio State spent over $840,000 on travel by school president Gordon Gee since 2007. Over $550,000 of that total was spent in the last two years including two visits to China and two other trips that included stops... More of this article »
Nokia Reports Loss Of $1.2 Billion In First Quarter (NYSE: NOK)
Nokia reported a loss of €929 million (equivalent to $1.2 billion) in the first quarter of 2012. A year earlier, Nokia posted a €344 million profit. Sales plunged 29% to €7.4 billion from €10.4 billion a year earlier. ... More of this article »
Facebook Hitting the Road to Convince Investors
Facebook is already assured of being one of the most valued companies in the U.S. when it offers its IPO later this month. However, it must convince its investors it is worth the hype that is taking place now. Facebook’s top executives... More of this article »
Oil Drops 6% this week
The price of crude oil plummeted 6% between Monday and Friday. For the time being, that has eased Americans’ fears of paying $5 per gallon at the pumps. The per barrel price of crude fell below the $100 price for the first time since... More of this article »
Horizon Air to Pay Fine
A fine of $45,125 is being proposed by the Federal Aviation Administration against Horizon Air, as it has accused it of operating a twin-engine small aircraft without having it inspected for corrosion or cracks in the engine area.... More of this article »
Visas and Unfriendly Security Hurting U.S. Tourism
Increasing the number of foreign tourists visiting the United States would help to improve the economic outlook of the country. However, a costly process to obtain visas and a generally unwelcoming immigration and airport security... More of this article »
Pfizer Reports Fall in Earnings
Pharmaceutical giant Pfizer announced that its net income had fallen in the latest quarter. Sales dropped following the exclusivity that was lost by the company on Lipitor, the cholesterol drug, in November. Pfizer, the largest drug... More of this article »
Stocks Fall Thanks to Spain and Sluggish Economic Data
Worries about the economy in the U.S. and Spain led to the stock market seeing red Monday. Nevertheless, the average for the month was up for the seventh consecutive month. The Dow Jones Industrials were down 14.68 points to 13,213... More of this article »