Company Facing Heavy Fine After Bourbon Poisons and Kills Fish

Posted by David Roper on Jun 27th, 2018 // No Comments

A company that owns a Kentucky distillery is facing large fines from state officials after a warehouse collapsed last week and leaking bourbon caused the death of hundreds of fish, said state officials. The collapse of the warehouse...

Chinese Media: U.S. Has Delusions Over Trade

Posted by David Roper on Jun 22nd, 2018 // No Comments

On Friday, Chinese Media said that the new protectionism agenda by the U.S. is self-defeating and a symptom of delusions that must not succeed in distracting China from the path it is on to modernization. This came as Beijing continued...

CEO of Audi Arrested in Diesel Scandal

Posted by David Roper on Jun 18th, 2018 // No Comments

The head of the luxury arm of Volkswagen Audi was arrested Monday. He becomes the most senior official in the company thus far to be detained over the carmakers cheating software to beat diesel emission tests. Prosecutors in Munich...

Microsoft Aiming at Amazon in Checkout-Free Retail Push

Posted by David Roper on Jun 14th, 2018 // No Comments

Microsoft Corp. is developing technology to eliminate the need for cashiers as well as checkout lines at stores, in a direct challenge to the automated grocery store of Amazon.com Inc. said people familiar with this situation. The...

Bitcoin Plunges Following Hack of Coinrail

Posted by David Roper on Jun 11th, 2018 // No Comments

Coinrail, the cryptocurrency exchange based in South Korea said it had been hacked during the weekend, which sparked a steep drop in bitcoin amidst increased concerns over security at the many different virtual currency exchanges....

Argentina to be Bailed Out with $50 Billion from IMF

Posted by David Roper on Jun 8th, 2018 // No Comments

On Thursday, Argentina reached a deal of three years with the International Monetary Fund for a credit line of $50 billion, which was larger than originally expected, and that the government has promoted as being a vote of confidence...

Home Meal Kit Service Marley Spoon Going Public

Posted by David Roper on Jun 6th, 2018 // No Comments

Meal kit subscription services Marley Spoon that is competing with others such as HelloFresh and Blue Apron, filed for its IPO in Australia. The company headquartered in Berlin, is looking to raise as much as 70 million Australian...

Sam Adams Maker Boston Beer Fined $975,000 by New York State

Posted by David Roper on Jun 1st, 2018 // No Comments

The New York State Liquor Authority fined Boston Beer Co. the maker of renowned craft beer Sam Adams close to $1 million for selling its products that did not contain brand label registration that was required. American Craft Brewery...

Salesforce Beats Expectations on Revenue, Stock Moves Higher

Posted by David Roper on May 30th, 2018 // No Comments

Shares of Salesforce rose by 4% Tuesday after the announcement by the company of its quarterly results that were better than had been expected for its 2019 fiscal year first quarter. Salesforce earnings excluding special items reached...

Stores in Qatar Told to Take Products from Saudi Arabia Off Shelves

Posted by David Roper on May 28th, 2018 // No Comments

Qatar ordered retailers across the Gulf Coast country to stop the sales of products from Saudi Arabia as well as other countries that have severed with the nation close to one year ago. Bahrain, Egypt, Saudi Arabia and the United Arab...

Google and Facebook Face Lawsuits with Change in Data Rule

Posted by David Roper on May 25th, 2018 // No Comments

The new sweeping data protection law in Europe took effect Friday and experts in the legal community said that big tech companies have already violated the rules. Facebook and subsidiaries Instagram and WhatsApp, along with Google,...

Campbell Soup Stock Slumps Following Sudden Exit of CEO

Posted by David Roper on May 21st, 2018 // No Comments

Campbell Soup Co. shares fell sharply at the end of last week after the CEO made an unexpected announcement that she was departing. Shares of Campbell dropped over 12.4% in Friday trading after it announced a change in strategy and...

Walmart Earnings Beat the Street

Posted by David Roper on May 17th, 2018 // No Comments

Walmart Inc. posted earnings for the first quarter that were stronger than had been expected on Thursday and affirmed its opinion that the acquisition this month of Flipkart in India would hit the bottom line in 2018. Walmart added...

WHO Calling for Trans Fats Elimination in all Foods in Five Years

Posted by David Roper on May 14th, 2018 // No Comments

The World Health Organization announced that it wants all artificial trans fats eliminated from the world’s food supply and has a strategy on how to accomplish that by 2023. The WHO, on Monday launched its new REPLACE initiative...

Ford Stops All Production of F-150 Pickups Due to Supplier Fire

Posted by David Roper on May 10th, 2018 // No Comments

Ford suspended all its production of its F-150 pickup, the bestselling vehicle in the nation for over 35 years, due to a parts shortage. The halt in production was caused by a May 2 fire at a Michigan based parts factory that rippled...

Three Airbnb Guests Who Are Black Questioned by Law Enforcement

Posted by David Roper on May 8th, 2018 // No Comments

Three blacks are planning to sue a police department in Southern California over what they claim was an excessive response to a 911 call they said was racially motivated. However, police said that the officers’ response was brief,...

Activision Blizzard Stock Jumps As Fortnite Competition Less Than Expected

Posted by David Roper on May 5th, 2018 // No Comments

The growing popularity of Fortnite from Epic Games is not hurting the gaming business of Activision Blizzard as significantly as feared. The game publisher posted first quarter, better than expected earnings this week and slightly...

Snap Stock Drops 16% on Redesign Worries

Posted by David Roper on May 2nd, 2018 // No Comments

On Tuesday, Snap Inc. came up short of forecasts on Wall Street for revenue as well as regular users after its redesign of the messaging app Snapchat upset some users and advertisers, helping send shares plunging by 16%. Revenue growth...

Avengers: Infinity War Soars to New Record at Box Office

Posted by David Roper on Apr 30th, 2018 // No Comments

Thor and Spider-man were huge successes and the Black Panther ended up crushing both. However, none of the three Marvel films could compare to Avenger: Infinity War the new shinning jewel of the movie franchise. The movie made its...

Facebook Continues Making Money Despite Controversy

Posted by David Roper on Apr 26th, 2018 // No Comments

People continue joining and signing in to Facebook and that means the social media giant continued to rake in large sums of money through selling ads regardless of a privacy scandal. The earnings report released by the social media...

Japan-based Takeda Increases Offer to Shire

Posted by David Roper on Apr 21st, 2018 // No Comments

Takeda Pharmaceutical, based in Japan, has boosted its offer to acquire Shire to £44.3 billion or $62 billion on Friday in an attempt to persuade the specialist of rare-disease treatments into negotiations after being rejected on...

Jeff Bezos: Amazon Prime Has 100 Million Members

Posted by David Roper on Apr 19th, 2018 // No Comments

An annual letter to shareholders has been released by Jeff Bezos the CEO at Amazon. In his letter, Bezos was quick to stress how important it is to have high standards when running a business, as with setting high standards, businesses...

Johnson & Johnson Beats on Earnings Thanks to Pharma

Posted by David Roper on Apr 17th, 2018 // No Comments

Johnson & Johnson was able to top revenue and earnings expectations during the first quarter boosted by strong growth in pharmaceuticals. The company posted $2.06 adjusted earnings per share on revenue that exceeded $20 billion....

Judge in U.S. Says Drivers for Uber Are Not Company Employees

Posted by David Roper on Apr 13th, 2018 // No Comments

A Philadelphia judge ruled this week that limousine drivers at Uber Technologies are not employees but independent contractors under federal law, which is the first ruling of this kind on an important issue for the company. The judge...

Uber Acquiring Electric Bike Sharing Company Jump Bikes

Posted by David Roper on Apr 10th, 2018 // No Comments

Ride-hailing behemoth Uber is acquiring electric-bike startup Jump Bikes, as it diversifies its transportation options. Uber CEO Dara Khosrowshahi on Monday announced that the company reached an agreement to buy Jump, which operates...

Nine West Files Bankruptcy, Planning to Reorganize Sell Shoe Brand

Posted by David Roper on Apr 7th, 2018 // No Comments

On Friday, Nine West Holdings filed for bankruptcy protection. The company is planning to sell some of its existing assets while reorganize others as excessive debt defeated the clothing and shoe company that Sycamore Partners controls. The...

Uber Suspending Greece Service Following New Legislation

Posted by David Roper on Apr 5th, 2018 // No Comments

Uber Technologies, the world’s largest ride-hailing service said Thursday that it would be suspending its service across Greece after local legislation was approved that imposes stricter regulation within the sector. Uber, which...

China Responds to Trump Duties With Ones of Its Own

Posted by David Roper on Apr 2nd, 2018 // No Comments

On Monday, China responded to the duties on aluminum and steel U.S. President Donald Trump implemented by raising the import duties on U.S. fruit, pork and other products valued at more than $3 billion. The move comes as companies...

McDonald’s Increases Tuition Benefits Following Tax Windfall

Posted by David Roper on Mar 30th, 2018 // No Comments

McDonald’s Corp is planning to inject $150 million into its tuition assistance programs for its employees in the U.S., becoming the most recent corporate behemoth to use the overhaul of corporate taxes to increase benefits. This...

Milkybar From Nestle Targeting Healthy Sweet Lovers Using New Sugar

Posted by David Roper on Mar 27th, 2018 // No Comments

Nestle will launch its new lower-sugar candy bar Milkybar that is made with a new version of sugar that could help ease the confectionery industry’s growing headache over public health. The confectionery industry is thought to be...

President Trump’s Tariffs on Imports from China Could Increase U.S. Prices

Posted by David Roper on Mar 24th, 2018 // No Comments

The move by President Donald Trump to impose big tariffs on imports from China and the threats of retaliation by China set of new worries on Friday over higher prices for consumers in the U.S. and steep losses of sales for businesses...

Whole Foods Calls Summit of Suppliers Amidst Worry Over Amazon

Posted by David Roper on Mar 21st, 2018 // No Comments

Whole Foods on Tuesday will hold a summit for as many as 200 of its different suppliers amidst worry over how its business revamp is going to play out with Amazon.com its new owner. Amazon’s purchase for $13.7 billion of the supermarket...

KFC Goes to Former Supplier for Help with Menu Problems

Posted by David Roper on Mar 9th, 2018 // No Comments

KFC cannot seem to fix its problems with its menu in the UK, which has created quite an image problem for the chain. The chain of chicken restaurants announced on Friday that it would be switching hundreds of its restaurants in the...

German Automakers Outsell GM in South Korea

Posted by David Roper on Mar 7th, 2018 // No Comments

BMW and Mercedes both sold more vehicles than did General Motors in South Koreas for just the first time, during February. Sales were helped by the increasing popularity of the premium brands from Germany as consumers shift away from...

IEA: Output in U.S Oil to Jump in Upcoming Five Years

Posted by David Roper on Mar 5th, 2018 // No Comments

Output of shale oil in the U.S. is ready to make a surge over the upcoming five years as drillers have recovered rapidly from a slump of three years, said the International Energy Agency on Monday. It sharply upgraded its previous...

Shares Plummet for Firearms Maker

Posted by David Roper on Mar 2nd, 2018 // No Comments

American Outdoor Brands Corp., which makes Smith & Wesson firearms, plummeted following a warning of a long sales slump. Demand by consumers for firearms has fallen to new low levels that might continue for an extended period,...

Jane Replacing Johnnie Walker on Some Scotch Bottles

Posted by David Roper on Feb 28th, 2018 // No Comments

For just the first time, the man in a top hat who appears on Johnnie Walker whiskey bottles will be replaced with a woman. Diageo, the owner of Johnnie Walker and a giant in the liquor industry, said this week that it would be launching...

Cattle Ranchers Fighting Back Against Fake Meat

Posted by David Roper on Feb 26th, 2018 // No Comments

Businesses such as Beyond Meat and Impossible Foods have combined science with ingredients that are plant-based to create what are being called “fake meat” burgers as well as other products that taste similar to real meat. Now,...

Beijing Takes Control of Anbang, Owner of Waldorf Astoria

Posted by David Roper on Feb 23rd, 2018 // No Comments

The government of China announced on Friday it has taken control of Anbang Insurance Group, a troubled company in China that is owner of New York City’s Waldorf Astoria hotel as well as other well-known properties across the globe,...

Employee at Taco Bell Fired following Derogatory Slur on Receipt

Posted by David Roper on Feb 21st, 2018 // No Comments

Following a night out with friends, In Young Lee, a Ph.D student in his first year at Penn Medicine, visited a Philadelphia Taco Bell at approximately 1:40 AM. According to Lee, when he arrived to order food he gave the fake name of...

Lego Enters China Classrooms as Other Markets Slow

Posted by David Roper on Feb 19th, 2018 // No Comments

Toymaker Lego hopes to build a following with parents in China through promoting its place in Chinese classrooms as well as in children’s toy boxes. The Danish toymaker, famous for its building blocks made in bright colors, has been...

Avis Under Heavy Pressure to Shuffle Its Board

Posted by David Roper on Feb 16th, 2018 // No Comments

Avis Budget Group’s top shareholder has started a proxy battle with the board of directors at the rental car business, citing a failure to reach financial targets and prepare the business for the auto industry’s transformation. SRS...

Quarterly Sales at Uber Rose by 61% Amidst Big Loss

Posted by David Roper on Feb 14th, 2018 // No Comments

Uber Technologies Inc. suffered through a difficult 2017, but its business was able to grow nevertheless. Uber’s adjusted net revenue for its just ended quarter grew 61% to end the three-month period at $2.22 billion compared to...

Maker of Marmite Threatens to Stop Ads on Google and Facebook

Posted by David Roper on Feb 12th, 2018 // No Comments

Unilever, the maker of consumer goods, is threatening to end its advertising with online giants such as Google and Facebook if they do not protect children, help to prevent the creation of a division in society and hate. Later on Monday,...

Twitter Posts First Quarterly Profit

Posted by David Roper on Feb 9th, 2018 // No Comments

Twitter appears as if it is beginning to head in the right direction. On Thursday, the microblogging site posted a fourth quarter profit; the first quarterly profit since it became public dating back to 2013. The news helped push share...

General Motors Posts Strong Results Despite Its Losses

Posted by David Roper on Feb 7th, 2018 // No Comments

General Motors Co. Detroit’s only automaker that posted a 2017 net loss, down by $3.9 billion due to adjusting for the new corporate tax law and a one-off hit from its European money-losing business that it sold in 2017. However,...

Sources: Lloyds Bank Follows U.S. Banks Lead Banning Bitcoin Purchases with Credit Cards

Posted by David Roper on Feb 5th, 2018 // No Comments

Lloyds Banking Group became the first lender in Britain to ban its customers from purchasing bitcoin as well as other types of cryptocurrencies with their credit cards. The report was first made by a British daily that said Lloyds...

Credit Card Spending Increase Lifts Profits for VISA

Posted by David Roper on Feb 2nd, 2018 // No Comments

An increase in the amount spent with credit cards by confident consumers has helped payments processor Visa Inc. surpass revenue expectations in its fiscal year first quarter. Visa’s revenue during the three-month period that ended...

Harley-Davidson Sales Fall, Shutting Plant in Kansas City

Posted by David Roper on Jan 31st, 2018 // No Comments

Sales at Harley-Davidson fell sharply during 2017 and the motorcycle maker will move forward with its plan to consolidate its manufacturing operations, which includes closing its plant in Kansas City, Missouri. The biggest maker in...

Report: ATMs Spitting Out Cash for Hackers

Posted by David Roper on Jan 29th, 2018 // No Comments

Hackers can now make ATMs give them cash like it were coming out of a slot machine and they have started to operate in the U.S. This has marked the arrival of the attacks dubbed “jackpotting” that were widespread in both Asia and...

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