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Beijing Takes Control of Anbang, Owner of Waldorf Astoria

Beijing Takes Control of Anbang, Owner of Waldorf Astoria

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

Employee at Taco Bell Fired following Derogatory Slur on Receipt

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

Lego Enters China Classrooms as Other Markets Slow

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

Avis Under Heavy Pressure to Shuffle Its Board

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

Quarterly Sales at Uber Rose by 61% Amidst Big Loss

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

Maker of Marmite Threatens to Stop Ads on Google and Facebook

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

Twitter Posts First Quarterly Profit

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

General Motors Posts Strong Results Despite Its Losses

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

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

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

Credit Card Spending Increase Lifts Profits for VISA

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

Harley-Davidson Sales Fall, Shutting Plant in Kansas City

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

Report: ATMs Spitting Out Cash for Hackers

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... 
Dell Looking Into Acquisitions, Sale or IPO

Dell Looking Into Acquisitions, Sale or IPO

U.S. based computer maker Dell Technologies is exploring several options that could see the largest privately held tech company in the world grow even further via acquisitions or going public, said people who are familiar with this... 
United Continental Profit Beats the Street

United Continental Profit Beats the Street

United Continental Holdings, the United Airlines parent, posted its earnings late Tuesday afternoon that beat estimates on Wall Street. However, immediately after, shares plunged during trading after-hours at the time of an investor... 
Overhaul of U.S. Taxes Hits Earnings at UBS

Overhaul of U.S. Taxes Hits Earnings at UBS

Switzerland based bank UBS posted a 1.165 billion Swiss francs profit equal to $1.25 billion for the 2017 full year, weighed down in the fourth quarter by a write down that was related to the new tax overhaul in the U.S. Analysts were... 
Toronto’s Inclusion in Amazon List Could Increase Tension with Trump

Toronto’s Inclusion in Amazon List Could Increase Tension with Trump

Amazon.com Inc.’s inclusion of Toronto, the largest city in Canada on its list of 20 finalists for its second headquarters could increase tensions between the e-commerce behemoth and United States President Donald Trump. On Thursday,... 
U.S. Attempting to Reverse Tourism Problems

U.S. Attempting to Reverse Tourism Problems

A new coalition in the travel industry is urging the White House to help it stem a fall in the number of international visitors. More and more travelers around the world are skipping the U.S. prompting ten associations in the U.S.... 
Conde Nast Cuts Ties with Two Fashion Photographers

Conde Nast Cuts Ties with Two Fashion Photographers

Following disturbing reports published by The New York Times about photographers Mario Testino and Bruce Weber, Conde Nast, the publisher of Vogue, has cut ties with both men. In the Sunday edition of the newspaper a headline said... 
Puma to Be Spun Off By Kering to its Shareholders

Puma to Be Spun Off By Kering to its Shareholders

France-based Kering, which owns Gucci, is planning to spin off Puma its sports brand in Germany to the conglomerate’s shareholders in order to put more focus squarely on just its luxury brand. Kering announced Thursday its plans... 
Johnson & Johnson, Bayer Win $28 Million Verdict Reversal

Johnson & Johnson, Bayer Win $28 Million Verdict Reversal

A state court judge in Pennsylvania overturned a jury award on Tuesday of $27.8 million to a couple from Indiana who had accused Johnson & Johnson and Bayer AG of not warning of the risks of internal bleeding from Xarelto a drug... 
Viacom And Cisco Partner To Optimize Video Distribution Network

Viacom And Cisco Partner To Optimize Video Distribution Network

Cisco and Viacom have inked a deal which will see them collaborate in building a video network foundation which will be used in enhancing Viacom’s premier branded content on multiple platforms in the Caribbean, Mexico, Canada and... 
Renault-Nissan Alliance In Joint EV Venture With Dongfeng Motor Corp

Renault-Nissan Alliance In Joint EV Venture With Dongfeng Motor Corp

The alliance between Renault and Nissan has announced that it is planning to produce electric cars in China in partnership with Dongfeng Motor Corp, a Chinese automaker. The new partnership will be known as eGT New Energy Automotive.... 
Volkswagen Microbus Coming Back To Market

Volkswagen Microbus Coming Back To Market

Volkswagen Group has announced plans to revive its popular microbus as an electric vehicle. The old microbus was among the most recognizable Volkswagens in the brand’s 1960s hippie heyday. The company made the announcement at... 
Target Records Sales Increase In Latest Quarter

Target Records Sales Increase In Latest Quarter

Target Corp.’s (NYSE:TGT) efforts to revamp its business showed signs of success in its latest quarter. Target reported a profit of $672 million, or $1.22 a share, compared with $680 million, or $1.16 a share, a year earlier.... 
Judge Rules Against Costco In ‘Tiffany’ Rings Case

Judge Rules Against Costco In ‘Tiffany’ Rings Case

A federal judge has ruled against Costco (NASDAQ:COST) in a case that accused the company of illegally using the Tiffany & Co. (NYSE:TIF) brand in conjunction with ring sales and marketing. The judge ruled that Costco must pay... 
Chinese App Colorful Balloons Reportedly Developed By Facebook

Chinese App Colorful Balloons Reportedly Developed By Facebook

Facebook Inc. (NASDAQ:FB) has reportedly launched a new photo-sharing app called Colorful Balloons in China. The app allows users to share photos with friends and family members. The app was launched in May. Paul Mozur of The New... 
Disney To Launch Its Own Streaming Services

Disney To Launch Its Own Streaming Services

The Walt Disney Company (NYSE:DIS) is launching two Netflix-style streaming services in a bid to address the pressure on its television business. Disney reported a slight decline in revenue and a 9 percent drop in net income for its... 
Fully Automated Flights On The Horizon

Fully Automated Flights On The Horizon

Fully automated flights are getting closer to becoming a reality. A report recently released by investment bank UBS stated, “Technically speaking, remotely controlled planes carrying passengers and cargo could appear” by around... 
Boeing Reaches Deal To Provide New Presidential Aircraft

Boeing Reaches Deal To Provide New Presidential Aircraft

Boeing Co. (NYSE:BA) has been awarded the Air Force contract to build two 747s that will become future Air Force One aircraft. The aerospace giant will sell the U.S. Air Force two commercial 747-8 jetliners that will be modified into... 
Teva Pharmaceutical Misses Q2 Profit Estimates

Teva Pharmaceutical Misses Q2 Profit Estimates

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) reported second quarter results that missed analysts’ estimates. In the second quarter, profit, excluding some costs, dropped to $1 billion from $1.23 billion a year earlier. That was... 
Apple Loses Bid To End FaceTime Lawsuit

Apple Loses Bid To End FaceTime Lawsuit

Apple’s (NASDAQ:AAPL) motion to dismiss a lawsuit related to disabling FaceTime on iOS 6 and earlier software versions has been denied. United States district judge Lucy Koh denied the motion, allowing the case to proceed as... 
Pokemon Go Fests Scheduled For Europe Delayed

Pokemon Go Fests Scheduled For Europe Delayed

Niantic Labs is postponing a number of its planned Pokemon Go Fests in Europe. The studio announced that its European events scheduled for next month will be moved to a later date in fall. Niantic is saying it needs more time “to... 
Michael Kors Adding Jimmy Choo To Its Portfolio

Michael Kors Adding Jimmy Choo To Its Portfolio

Michael Kors (NYSE:KORS) has bid $1.2 billion to buy London-listed luxury shoemaker Jimmy Choo (LON:CHOO). The valuation is 15.2 times forward earnings before interest, taxes, depreciation and amortization. The total price, including... 
KKR To Acquire WebMD In $2.8B Deal

KKR To Acquire WebMD In $2.8B Deal

Global investment firm Kohlberg Kravis Roberts (NYSE:KKR) has agreed to buy WebMD Health Corp. (NASDAQ:WBMD) for about $2.8 billion. KKR will pay $66.50 per share in cash in the transaction. The financing for the transaction is fully... 
Amazon’s Whole Foods Deal Under Scrutiny

Amazon’s Whole Foods Deal Under Scrutiny

A group of Democrats in Congress sent a letter this week urging the U.S. Department of Justice and the Federal Trade Commission to conduct an in-depth review of Amazon.com Inc.’s (NASDAQ:AMZN) $13.7 billion deal to purchase Whole... 
Carrier Corp. Begins Hundreds Of Layoffs

Carrier Corp. Begins Hundreds Of Layoffs

Thursday was the last day of work for hundreds of Carrier Corporation workers. The Carrier fan coil manufacturing facility in Indianapolis has begun laying off 338 employees. The layoffs are part of the previously announced plan, the... 
Disney Adding Three More Ships To Cruise Line

Disney Adding Three More Ships To Cruise Line

Disney Cruise Line’s (NYSE:DIS) fleet will be growing by three. The new ships would be similar in size to Disney’s newest ships, Disney Dream and Disney Fantasy. Each of those ships carry about 2,500 passengers at double occupancy.... 
Google Back Taxes Dismissed By French Court

Google Back Taxes Dismissed By French Court

A Paris court has dismissed a €1.11 billion ($1.27 billion) tax bill levied against Google. That amount represents five years of back taxes for a period ending in 2010. The ruling was a major victory for Google. The dispute had been... 
Microsoft Makes Plans To Expand High Speed Internet Access

Microsoft Makes Plans To Expand High Speed Internet Access

Microsoft (NASDAQ:MSFT) wants to harness the unused channels between television broadcasts, known as white spaces, to provide more of rural America with high-speed internet access. The company aims to connect two million rural Americans... 
Amazon Launches Service Resembling Geek Squad

Amazon Launches Service Resembling Geek Squad

Amazon (NASDAQ:AMZN) is rolling out its own version of Best Buy’s (NYSE:BBY) popular Geek Squad service. The new offering has already rolled out in seven markets. Those markets are Seattle, Portland, San Francisco, San Diego,... 
Sears Announces New Round Of Store Closures

Sears Announces New Round Of Store Closures

Sears Holdings (NASDAQ:SHLD) has announced a new round of store closings, this one targeting 43 Sears and Kmart locations. The company says that eight Sears department stores and 35 Kmart discount stores chain will close. The retailer... 
Microsoft Announces Layoffs In Sales Force

Microsoft Announces Layoffs In Sales Force

Microsoft (NASDAQ:MSFT) has begun laying off thousands of employees, mostly in its sales department. The eliminations will be some of the most significant to the sales force in years. The layoffs also expected to impact local marketing... 
Nearly 3 Dozen Arrested In China Over Transit Elevated Bus Investments

Nearly 3 Dozen Arrested In China Over Transit Elevated Bus Investments

This week, police in Beijing announced that it had started an investigation into the company behind the Transit Elevated Bus, or TEB. So far, the police have arrested 32 people for illegal fundraising linked to the project. There had... 
Cases Of The Plague Surface In New Mexico

Cases Of The Plague Surface In New Mexico

Health officials have confirmed that three people in New Mexico have been diagnosed with the plague. The three people diagnosed were a 63-year-old man and, more recently, a 52-year-old and a 62-year-old woman. The health officials... 
Uber-Google Lawsuit Turns Focus To Internal Emails

Uber-Google Lawsuit Turns Focus To Internal Emails

The lawsuit over self-driving car technology involving Uber and Google’s parent company Alphabet (NASDAQ:GOOG) continues, with internal emails from Uber now being entered into the record. Uber is saying no one at the ride-hailing... 
New Cyberattack Locks Thousands Of Computers Around Globe

New Cyberattack Locks Thousands Of Computers Around Globe

An international cyberattack has struck computer systems from Russia to the United States. Computer experts are calling the virus Petya. Reports of the attack spread quickly. Rob Wainwright, executive director of Europol, Europe’s... 
Reports Of Nike Deal With Amazon Tank Rivals Values

Reports Of Nike Deal With Amazon Tank Rivals Values

Reports have emerged of a potential deal for Nike (NYSE:NKE) to begin selling its sneakers directly through Amazon.com (NASDAQ:AMZN). Nike would potentially also be selling its athletic gear directly on Amazon’s e-commerce site.... 
Oracle Beats Revenue Estimates For Fourth Quarter

Oracle Beats Revenue Estimates For Fourth Quarter

Oracle Corp. (NYSE:ORCL) has announced a fourth straight quarter of revenue gains for the fourth quarter of its fiscal year. The company’s reported total sales easily topped analysts’ estimates. In the period ended May 31, adjusted... 
Google Adds New Job Searching Feature

Google Adds New Job Searching Feature

Alphabet’s (NASDAQ:GOOG) Google announced a new initiative named Google for Jobs earlier this year at Google I/O. The goal of the initiative was to use the search giant’s skills at organizing information to make finding jobs easier.... 
Apple Openly Ventures Into The Self-driving Car Market

Apple Openly Ventures Into The Self-driving Car Market

Reports have emerged that Apple (NASDAQ:AAPL) is developing AI systems meant to power self-driving cars. According to revelations from CEO Tim Cook, Apple is working on artificial-intelligence-based self-driving technology. Cook said...