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People Continue Spending, But Stores Remain in Trouble
Across the U.S. stores are closing at unprecedented rates. Retailers are filing bankruptcy and malls are slowly becoming ghost towns. However, while the physical brick and mortar stores continue to struggle, consumers are spending... More of this article »
General Electric Cutting 12,000 Jobs in Revamp of Power Business
On Thursday, General Electric said it was cutting 12,000 jobs at its worldwide power business, the latest effort by the industrial conglomerate that continues to struggle as it shrinks itself into a company with more focus. The company,... More of this article »
Nestle Buying Atrium Innovations in Deal Worth $2.3 Billion
Nestle will acquire Atrium a vitamin maker based in Canada at the cost of $2.3 billion, expanding its consumer healthcare presence as it attempts to offset continued weakness in the packaged foods’ industry. The largest package foods... More of this article »
Tiffany Sales and Profit Top Expectations
Tiffany & Co the jeweler saw its sales and profit exceed market expectations thanks to strong demand for high-end solitaire and fashion jewelry in its first full three-month period under new CEO Alessandro Bogliolo. Tiffany, whose... More of this article »
Comcast Enters Bidding War for Media Assets of 21st Century Fox
Comcast Corp. joined the pursuit of entertainment assets for 21st Century Fox the multimedia giant owned by media mogul Rupert Murdoch. Comcast expressed interest in acquiring the movie studio of Fox based in Los Angeles, its sports... More of this article »
Forecast for Operating Profit Cut by Nissan Following Recall
Nissan, the Japanese automaker, reduced its profit forecast for the full year as a scandal involving safety inspection hit its earnings. The automaker is expecting its operating profit to be 645 billion yen or $7.5 billion for its... More of this article »
Maryland Opens Investigation of Kushner Companies
The attorney general of Maryland has opened an investigation of one of the Kushner family’s businesses of real estate following media reports that surfaced earlier in 2017 about the alleged abusive practices of debt collection and... More of this article »
Amazon Sees Surge in Sales Following Acquisition of Whole Foods
Amazon.com Inc. said on Thursday that sales had surged during the summer and that its profit sped past expectations, as shoppers flocked to promotions on its “Prime Day” and purchased groceries at its recently acquired Whole Foods... More of this article »
U.S. Regulators Sue Rio Tinto and Two Former Executives
The U.S. Securities and Exchange Commission on Tuesday filed suit against Rio Tinto and two of its former top executives claiming they misled investors over the value of coal assets in Mozambique obtained in an acquisition gone bad... More of this article »
Slack Raises Financing That Values Business at $5.1 Billion
Slack raised another big round of new financing that has valued the business at over $5 billion. The leader of the new round of financing was Japan-based SoftBank, which is appears has been investing in numerous companies of late. It... More of this article »
China Wants to End Gas and Diesel Vehicles
China is the largest auto market in the world and is currently putting together a detailed plan that would ban the manufacturing and sale of vehicles that are powered just by fossil fuels, said officials on Monday. The government of... More of this article »
Toys ‘R’ Us Weighing Possible Bankruptcy
Toys ‘R’ Us has hired advisers specializing in restructuring at a law firm as it attempts to handle debt that has reached millions of dollars, that is coming due, said a pair of sources who know the situation. Amongst options the... More of this article »
HPE Revenue Increase Comes After Trimming Costs
Hewlett Packard Enterprise has emerged from its aggressive slimming down efforts, reporting quarterly sales that were stronger than had been expected on strong demand for storage gear and servers that help in data centers’ operations. Revenue... More of this article »
Gasoline Prices in U.S. Plummet
Benchmark gasoline prices in the U.S. were down Monday to levels before Hurricane Harvey as refineries and pipelines in the Gulf Coast of the U.S. slowly return to activity, which has eased the concerns over supply. Oil futures for... More of this article »
Revised GDP for Second Quarter Up 3% in U.S.
The U.S. economy grew at a faster rate than was initially thought during the second three months of 2017, marking its quickest pace in over two years, with signs the momentum sustained itself to start the third quarter. Gross domestic... More of this article »
Underwriter of Flood Insurance Slammed in Texas by Harvey
As responders from around the nation move into the ravaged areas of Texas damaged by high winds and extreme flooding from Hurricane Harvey, one federal flood insurance program has started to sink even further into debt. NFIP or the... More of this article »
Bitcoin Cash mining hashrate leapfrogs that of Bitcoin Core briefly
Bitcoin Cash mining profitability has been grabbing the headlines lately and this has led many miners across the world to concentrate their mining power towards Bitcoin Cash and as a result mining hashrate for the new cryptocurrency... More of this article »
Bitcoin price increases by 7% to recover to $4200 levels
Much to the relief of Bitcoin traders and investors around the world, Bitcoin price has managed to cover a lot of lost ground from a low of $3,600 to above $4,200 fending of rumors and speculations that the cryptocurrency will hit... More of this article »
Bitcoin Cash finds more takers as OKCoin and Huobi start trading
Bitcoin Cash has garnered a lot of positive attention lately owing to the increase in its prices as well as record trading volumes and the sentiment will continue to favor the new cryptocurrency as two of China’s biggest bitcoin... More of this article »