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Sources: Samsung Will Launch Smart Watch with Phone
According to insider reports, Samsung Electronics the South Korea based electronics giant is currently developing a smart watch that will not have to be linked to a telephone to be used. That would in turn make the new device the only... More of this article »
Tiffany Tops Estimates Due to Higher Prices
Tiffany & Co. the second largest retail luxury jeweler in the world posted a profit for the first quarter that was higher than estimates from Wall Street analysts. The company also increased its forecast for 2014, as increases... 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 »
Pinterest Raises Over $200 Million
Pinterest was able to raise new capital in the amount of $200 million the company announced on Thursday. The recent capital brings the valuation of the company up to over $5 billion, which makes it one of the most valuable startups... 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 »
Sony Drops to Loss of $1.3 Billion
Sony Corp lost $1.3 billion during its fiscal year after being hit by the costs from selling is business of personal computers. The company is forecasting continued losses as it attempts to execute a turnaround that has now been long-promised. The... More of this article »
Valeant’s Bid to Takeover Allergan is Rejected
Allergan Inc has rejected the unsolicited takeover bid from Valeant Pharmaceuticals International, saying the bid had substantially undervalued the Botox wrinkle treatment maker. The offer, which puts a value $45.7 billion for Allergan... More of this article »
Toyota Expects Stalled Profits
Toyota Motor Crop has warned that its earnings might fall during the current fiscal year as the tailwind that boosted exports that the company and other carmakers in Japan received from the sharp depreciation of the yen over the past... More of this article »
Comcast Seeks Acceptance Of Merger Despite Resistance From Netflix (NASDAQ:CMCSA)
Comcast has been working diligently to increase acceptance of its proposed merger with Time Warner Cable. The $45 billion merger would give Comcast control of 40 percent of the country’s Internet service coverage and 19 of the country’s... More of this article »
Office Depot to Close 400 Stores in U.S.
Office Depot announced plans to close 400 or more stores in the U.S., as the company’s merger with OfficeMax has resulted in retail locations overlapping that can now be consolidated. The financial results for the combined company... More of this article »
G.M. Hires Compensation Professional To Talk To Families With Claims (NYSE:GM)
General Motors has hired a compensation professional to help the company explore compensating victims of G.M. cars with a defective ignition switch. Kenneth R. Feinberg, an expert in victim compensation who has handled cases like the... More of this article »
Tech Firms Will Notify Users that Information is Subpoenaed
Microsoft Corp, Apple Inc and Google Inc have said they would notify their users whose information is request by the U.S. government. This move is pitting the private companies against officials in law enforcement from the federal... More of this article »
RBS Stock Surges Following Earnings Report
Royal Bank of Scotland stock jumped by over 10% after the lender, which is owned by the government, showed signs it still had great potential with a profit before taxes that was much better than was expected driven by a drop in charges... More of this article »
Drop In Oil Production Hurts Shell Profit (NYSE:RDS.A)
European oil giant Royal Dutch Shell announced a profit decline of 45 percent in the first quarter, compared with a year earlier, as a drop in the company’s production of oil hurt its profits. Shell reportedly earned $4.5 billion... More of this article »
Walmart Makes Deal To Sell Auto Insurance (NYSE:WMT)
Retail giant Walmart has announced a deal to partner with AutoInsurance.com to sell insurance policies to consumers. The partnership would allow customers to comparison shop for auto insurance on AutoInsurance.com’s website, comparing... More of this article »
Colombia Increases Bank Key Rate Unexpectedly
The central bank of Colombia unexpectedly increased its benchmark rate of interest for just the first time in over three years amidst new signs the economy is rebounding with a surge in worries over inflation. The board at the bank... More of this article »
General Motors Waves Goodbye to Much of its Profit
General Motors costs for its recall have exceeded $1.3 billion and wiped out much of its quarterly profits. The U.S. automaker announced on Thursday that the recall expenses were much higher than originally anticipated. The cost of... More of this article »
Novartis, GlaxoSmitheKline and Eli Lilly Announce Deals
Novartis will be focusing more going forward on cancer. GlaxoSmithKline will be focused on vaccines, while Eli Lilly will be looking at animal health as the three drug makers announced on Tuesday deals that could total more than $28.5... More of this article »
Food Packaging and Front Labeling
A recent study says that food labeling on the front of a package boosts the ability of a consumer to make choices that are more informed by being able to comprehend the nutritional data better. The study dives head first into the value... More of this article »
Chobani Moving Beyond Just Greek Yogurt
Chobani plans on expanding behind just its Greek yogurt cups that have become so popular. The expansion this summer is due to the increasing amount of competition in the quick growing category. Beginning in July, the yogurt company... More of this article »
Google Fails To Meet Expectations In First Quarter
In the first quarter, Google reported earnings and revenue that were well short of analysts’ expectations. Earnings per share missed by 12 cents and revenue came in $100 million short of what was expected. For the quarter that ended... More of this article »
Shipments of Xbox One Surpass Five Million
The next-generation Xbox console sold over 311,000 units across the United States in March, outpacing the Xbox 360 in the same period. On Thursday, Microsoft announced that over 5 million Xbox One consoles were shipped since the November... More of this article »
Yahoo Revenue and Earnings Beat the Street
Yahoo announced its revenue and earnings for the latest quarter that beat Wall Street analysts’ estimates. Shares of Yahoo were up over 9% in trading afterhours on Tuesday, as of the close of business on Monday, the stock had fallen... More of this article »
Credit Card Practices Earn Bank of America $772 Million Penalty (NYSE:BAC)
Federal regulators ordered Bank of America to pay roughly $772 million in refunds and fines to settle charges of using deceptive marketing and billing practices involving credit card products sold by the bank. The misleading practices... More of this article »
Comcast Says Proposed Merger With Time Warner Cable Wouldn’t Stifle Competition (NASDAQ:CMCSA)
The announced merger between Comcast and Time Warner has been met with skepticism and fears that competition in the industries they serve would be substantially reduced. An array of consumer-advocacy groups, members of Congress and... More of this article »
California City Says Sriracha Sauce is Public Nuisance
Wednesday night a city in Southern California declared that the factory producing the hot sauce called Sriracha a public nuisance. The city gave the operators of the factory 90 days to make the necessary changes that will stop the... More of this article »
General Motors Announces Recruitment Of Crisis Experts (NYSE:GM)
G.M. chief executive Mary T. Barra was visibly shaken at the end of the second bruising day of testimony on General Motors’ ignition switch recall. Surrounded by a cadre of company officials, Ms. Barra was hustled out the door and... More of this article »
Facebook Executives Enjoy Huge Payday
Executives at Facebook received huge paydays for their 2013 efforts, even though the pay packages were not as lucrative as they had been the previous year in 2012. On Monday, in a Facebook regulatory filing the company said three top... More of this article »
BlackBerry Turns Its Sights On Security Products (NASDAQ:BBRY)
John S. Chen, president and chief executive of BlackBerry, is turning his attention to a future in which the troubled company’s once-popular smartphones will play a much less important role. BlackBerry’s focus will shift toward... More of this article »
Walmart Sues Visa
Walmart Stores Inc sued Visa Inc for over $5 billion claiming it was charged by the card network unreasonably high fees when its customers paid by credit or debit card. Visa as well as other card networks charge retailers fees each... More of this article »
Inquiry Into Microsoft Software Leak Raises Questions About Privacy Protections (NASDAQ:MSFT)
For months, the big technology companies have denied knowing anything about the government spying on people who use their Internet services. However, a recently filed legal case has highlighted the amount of power these companies have... More of this article »
Fox and News Corp Name New Co-Chairman
On Wednesday, News Corp announced that Lachlan Murdoch was named a nonexecutive co-chairman of both News Corp and Fox. The appointments mark the reemergence of the son of Rupert Murdoch as a big force at the companies just nine years... More of this article »
Icahn Receives Three Additional Board Seats at Herbalife
Herbalife Ltd, the weight-loss and nutritional company said it has agreed to give three additional seats to representatives of Carl Icahn the billionaire investor on its board of directors, which sent shares soaring in the company... More of this article »
Microsoft’s Xbox One Price Reduced Again (NASDAQ:MSFT)
A bundle of Microsoft’s Xbox One and Titanfall, a high-profile science fiction shooter game, is being offered at Walmart and Best Buy for $450. This is a $50 price cut from the combined price of the separate items. Consumers may... More of this article »
JPMorgan Commodities Unit To Be Sold For $3.5 Billion (NYSE:JPM)
JPMorgan Chase has agreed to sell its physical commodities trading unit to Swiss trading firm Mercuria Energy Group for $3.5 billion in cash. Buying the JPMorgan business will give the Swiss firm to physical oil and gas assets across... More of this article »
Earnings Fall 18% at Darden Restaurants
Darden’s Restaurants Inc reported that earnings for their fiscal third quarter fell by 18% as the operator of casual dining restaurants Red Lobster and Olive Garden amongst others continued to experience poor performance from the... More of this article »
$1.2 Billion Settlement Reached In Toyota Inquiry (NYSE:TM)
A deal has been reached between Toyota and the Justice Department for $1.2 billion to settle a four-year criminal investigation into whether the company misled investigators and the public about a sudden-acceleration defect. The reported... More of this article »
Icahn’s Battle with eBay has New Twist
Carl Icahn has changed his opinion in his scorched earth campaign against eBay, the e-commerce giant. The activist investor who is worth billions now wants eBay to have an initial public offering that equals 20% of the PayPal payments... More of this article »
EU Meeting Over Sanctions Against Russia
The foreign ministers of the European Union gathered on Monday in Brussels to talk about possible sanctions against Russia that could be released later in the day. Western nations want to strike back at Russia for its meddling in the... More of this article »
Los Angeles City Attorney Suing Time Warner Cable
On Friday, the LA City Attorney told reporters the city was filing a lawsuit against Time Warner Cable in federal court. The LA attorney, Mike Feuer claims the largest provider of pay TV in the region stiffed the city out of $10 billion... More of this article »
Former Boss of Shell Had Pay Halved
The pay for Peter Voser the former CEO of Royal Dutch Shell was halved last year to $11.24 million following what Shell described as a performance that was disappointing. However, the 2013 remuneration of Voser’s was higher than... More of this article »
Geron Nosedives as FDA Stops Blood Disorder Drug Development
Biotechnology company Geron Corp, which has no products marketed to date, plummeted after the U.S. Food and Drug Administration halted the development of the company’s only experimental drug for blood disorders imetelstat, due to... More of this article »
Dicks Revenue in Fourth Quarter Tops Wall Street
On Tuesday, Dick’s Sporting Goods announced that its net income for the fourth quarter increased 7% thanks to strong sales during the holiday season shopping period. Revenue was up 8%, which topped expectations of analysts. In Tuesday’s... More of this article »
Canadian Job Figures Drag Down Dollar
The Canadian dollar was down sharply on Friday amidst a miss of expectations for job creation in Canada last month. The dollar dropped 0.81 of one cent to end the day at 90.17 cents U.S. as it was reported that the Canadian economy... More of this article »
CEO of Bitcoin Exchange Found Dead
A Bitcoin exchange boss, who was American and 28 years of age was found dead in a Singapore apartment complex said police on Thursday. This was just the latest misfortune tied to the troubled currency used online. Police in Singapore... More of this article »
Lowe’s Reports Increase In Fourth Quarter Earnings (NYSE: LOW)
Lowe’s Companies, Inc. reported a 6.3 percent increase in earnings over the same period a year ago. Net earnings of $306 million, or $0.29 per share were reported for the quarter ended January 31, 2014. Net earnings for the fiscal... More of this article »
Winter Storms Take A Bite From FedEx Profits (NYSE:FDX)
Severe winter conditions hurt FedEx Corp’s quarterly earnings and revenue for the third quarter of its fiscal year. FedEx said operating income decreased by about $125 million in the third quarter as the unusual weather across the... More of this article »