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Amazon Prime Day Sales Increase By Double Digits This Year
According to Internet Retailer, shoppers in the United States will spend approximately $1.56 billion on Amazon Prime Day. This will be an increase of 20% from the$1.3 billion that was spent by shoppers in the U.S. on Prime Day last... More of this article »
Politics Unlikely To Interfere With The Time Warner And AT&T Proposed Merger
Reports indicate that the Trump White House may not be in a position to block the merger of Time Warner Inc and AT&T Inc. This is despite the ongoing feud that President Donald Trump and CNN, which is owned by Time Warner, has.... More of this article »
Sears Holding To Close Another 43 Stores
Things are not going well for Sears Holdings. The company has just announced this week they have plans to close another 43 stores in the United States. This brings the total number of Kmart and Sears stores to close this year up to... More of this article »
Lyft Opens Hubs For Its Prospective Drivers
Lyft is spending money it raised in a funding round in opening service centers aimed at assisting new drivers and helping them start working within hours of getting approved. The driver service centers known as ‘hubs’ have already... More of this article »
Q3 Earnings At Walgreens Boots Alliance Beat Estimates
Walgreens Boots Alliance has reported that earnings from its fiscal third quarter reached $1.16 billion exceeding the expectations of Wall Street. Profit per share for the company based in Deerfield, Illinois was $1.07 which was an... More of this article »
UPS Freezes Pension Plan For Workers Who Are Not Unionized
United Parcel Service has announced plans to freeze the pension plans of approximately 70,000 of its employees who are not unionized in a bid to reduce the financial burden the firm is facing as its retirement fund has a deficit of... More of this article »
Carl’s Jr. Slapped With Fine For Violating Minimum Wage In Los Angeles
Officials from the city of Los Angeles have accused Carl’s Jr., a fast food chain, of underpaying dozens of local workers for a period of half a year. The city has now slapped Carl’s Jr. with fines and restitution charges totaling... More of this article »
Southridge Mall Sears Store To Close As Woes Deepen
Sears has announced that it will be shuttering its department store located at Southridge Mall. This will make Sears the second anchor tenant to quit the Greendale shopping center this year. According to Howard Riefs, the spokesperson... More of this article »
Blue Apron To Debut On The Stock Market As Amazon Looms In The Horizon
In the wake of Amazon shaking up food retailing with a bid to acquire Whole Foods, Blue Apron, a meal-delivery service that is based in New York, is planning on a public offering. Blue Apron is looking to raise approximately $586.5... More of this article »
IBM Watson Financial Services Unveiled To Assist In Financial Regulation Compliance
International Business Machines formally unveiled a Watson product which will be used in financial regulation. The product will assist financial institutions in ensuring compliance and detection of possible financial crimes using artificial... More of this article »
Exxon Mobil Lawyers Insist New York Prosecutor’s ‘Climate Charge’ Is Politically Motivated
Exxon Mobil is yet again the center of attention over allegations it misled investors on how it accounts for climate change risks. Immediate court proceedings indicate that New York Attorney General, Eric Schneiderman, has asked that... More of this article »
Chief Operating Officer Of JPMorgan Chase Leaves Complicating Succession Plans
The chief operating officer of JPMorgan Chase, Matt Zames, is leaving the bank. His duties and responsibilities at the bank are currently being split up among other high-ranking executives. During his tenure at JPMorgan, Zames was... More of this article »
Price Of Bitcoin Rises Reaching A Record High
Bitcoin briefly appreciated by over $200 on Monday as a digital currency conference got underway in New York. This came after a weekend when the cryptocurrency saw increased demand from investors in Asia. Over the weekend the cryptocurrency... More of this article »
Uber Threatens to Fire Engineer Over Driverless Car Lawsuit
Uber’s top lawyers have threatened, this week, to fire one of the company’s engineers as part of an order to comply with a lawsuit regarding Google’s self-driving unit Waymo. In this case, Waymo accused Uber of conspiring... More of this article »
Wal-Mart Continues to Push Ahead in Online Retail
Discount retail giant Wal-Mart has just reported its first fiscal quarter revenue improved by 1.4 percent—to $117.54—falling only slightly short of analyst forecasts of $117.74 billion. Perhaps more importantly, the earnings per... More of this article »
Amazon Developing Virtual Clothes-Fitting Technology
Reports indicate that Amazon has built a team that is developing technology that will one day assist shoppers find clothes and shoes that fit them perfectly. If and when the technology sees the light of day, it will mark yet another... More of this article »
Bumble Bee Will Plead Guilty To Price-Fixing Charges
The U.S. Department of Justice announced Monday that Bumble Bee has consented to pleading guilty to felony charges of conspiring with firms it was competing with to fix prices of canned tuna. Bumble Bee, which is one of the biggest... More of this article »
Agency Blames Blast At Exxon Mobil Refinery On Weak Safety Standards
In a report released on Wednesday, the Chemical Safety Board of the United States has come to the conclusion that the 2015 explosion at a Torrance, California refinery that was owned by Exxon Mobil was preventable. According to the... More of this article »
Tesla Delays The Launching Of Some Of Its Solar Roofs
Tesla has announced that there will be a delay in the rollout of its solar roofs. This was disclosed by the chief executive officer of the electric carmaker, Elon Musk, in a TED Talk. The delay will mean that some of the solar shingle... More of this article »
Instagram Grows Both Its User And Advertise Base
Instagram’s user base is nearing one billion users after it doubled the number of users in two years to reach a figure of 700 million. The number of active advertisers on Instagram also increased from half a million in September... More of this article »
Profits Generated From New Wynn Casino In Macau Beat Forecasts
Profit generated from a new casino opened by Wynn Resorts in Macau is higher than what analysts had forecast. Excluding some items, profit grew to a figure of $1.24 per share. Analysts had estimated that the profit would be 98 cents... More of this article »
Privacy Abuse By An Online Service, Unroll.me Causes Uproar
Users of Unroll.me have reacted angrily to reports that the email management service had been selling their personal data to Uber. The free service which helps its users easily and conveniently unsubscribe from lists can scour inboxes... More of this article »
Trump Signs Executive Order Seeking To Put The American Worker First
U.S. President Donald Trump visited the state of Wisconsin in his efforts to reassure his supporters that his ‘America First’ agenda was still on course. This followed a couple of policy reversals which got a part of his base worried... More of this article »
Walmart To Buy Bonobos As It Moves To Strengthen Its Ecommerce Position
In yet another acquisition spree under the new chief of ecommerce, Marc Lore, reports indicate that Walmart is holding talks with a view to buying Bonobos, a New York City, New York-based fashion retailer that caters to men. According... More of this article »
Can 3D Printed Parts Save Boeing Several Million A Year on Dreamliner Jets?
While it has not quite yet become a household item, 3D printers continue to change the way we think about manufacturing all kinds of things. And as this technology continues to improve—and get bigger and bigger—we are quickly discovering... More of this article »
Ralph Lauren To Shut Down Fifth Ave Store, Cut 1,000 Jobs
Shares of the Ralph Lauren clothing brand declined 3.92 percent to $78.11 in morning trading, on Tuesday. This is just the latest tumble for the struggling retailer who is now facing more job cuts at its headquarters in order to make... More of this article »
Brazilian Gangs Fight For Control Of Black Market For Oil Amidst Economic Decline
A black market for oil in Brazil is believed to be fueling a criminal enterprise that is growing fast in the country’s oil heartland that is situated between Sao Paulo and Rio de Janeiro. This has resulted in killings as rival gangs... More of this article »
Iron Ore Being Transported By Ill-Fated Ship Was Insured, Brazilian Miner Discloses
Vale SA, a Brazilian mining company, revealed that the iron ore weighing 260,000 tons that was being transported by the ill-fated bulk carrier owned by a shipping company based in South Korea, had been insured. The ship, Stellar Daisy,... More of this article »
Record Deliveries Push Up Tesla’s Stock Making It Bigger In Value Than Ford
Tesla has surpassed Ford in market value after the share price of the electric car maker hit an all-time high. This now makes Tesla the second-biggest automaker in the United States after General Motors. The surge has been attributed... More of this article »