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Discovery Communications Announces Acquisition Of Scripps Networks
Discovery Communications Inc. (NASDAQ:DISCA) has announced that it has reached a deal to buy Scripps Networks Interactive Inc. (NASDAQ:SNI) for $11.9 billion. The deal calls for Scripps shareholders to receive $90 a share, a 34 percent... More of this article »
Alphabet Beats Earnings And Revenue Estimates
Alphabet Inc. (NASDAQ:GOOG) has beat analysts’ expectations for quarterly revenue and earnings for its latest quarter. The company reported that revenue rose about 21 percent to $26.01 billion in the second quarter ended on June... More of this article »
Amazon Prime Day 2017 Shatters Records
Amazon’s (NASDAQ:AMZN) Prime Day 2017 broke the e-commerce company’s single-day sales record for the second year in a row. Amazon said overall sales grew 60 percent from a year earlier. Amazon also reported that more than 50... More of this article »
Faraday Future Ends Plant Construction In Nevada
Silicon Valley startup Faraday Future has canceled its plans to build a $1 billion factory in Nevada. Stefan Krause, Faraday’s chief financial officer, announced in a statement, “We have decided to put a hold on our factory at... More of this article »
Hackers Target Power Plants Across America
Hackers believed to be working for a foreign government recently breached at least a dozen U.S. power plants. The Department of Homeland Security and Federal Bureau of Investigation said they are aware of a potential intrusion in the... More of this article »
New Law Proposed To Help FDA Police Personal Care Products
New laws could provide the Food and Drug Administration (FDA) with better tools to respond to bad personal care products. The proposed Personal Care Products Safety Act (PCPSA), introduced by Democratic Senator Dianne Feinstein of... More of this article »
Syngenta Ordered To Pay $218M In GMO Suit
Farmers who sued Swiss agribusiness giant Syngenta (NYSE:SYT) over its genetically engineered corn seed variety were awarded nearly $218 million by a federal jury in Kansas. The case involved four Kansas farmers representing roughly... More of this article »
German Grocer Aldi Announces U.S. Expansion Plans
German grocery chain Aldi stated that it would invest $3.4 billion to expand its U.S. store base to 2,500 by 2022 in an announcement made on Sunday. The company is also planning to remodel 1,300 of its stores at a cost of about $1.6... More of this article »
Low Income Consumers Can Now Enjoy Amazon Prime For Less
Amazon (NASDAQ:AMZN) is making its Prime membership program more affordable to customers on government assistance programs by cutting the monthly cost from $10.99 to $5.99. When paid up front, the Prime membership is $99 a year. Greg... More of this article »
Plans To Privatize Air Traffic Control System In Works
More than 30,000 federal air traffic controllers and other workers from the Federal Aviation Administration would be spun off into a private nonprofit corporation if a new plan from the White House comes to fruition. White House officials... More of this article »
Criticism Mounts As Herbalife Lowers Sales Guidance
Herbalife (NYSE:HLF) has lowered its sales guidance for the second quarter, alarming some of its investors. Herbalife now expects revenue to be 1.5 percent lower than prior estimates, but increased estimates for earnings per share... More of this article »
Wal-Mart CEO Touts Achievements During Annual Meeting
Wal-Mart (NYSE:WMT) CEO Doug McMillon touted the company’s investments in people and technology at the company’s annual shareholders’ meeting Friday. Wal-Mart workers from around the world packed the arena for the meeting. Blake... More of this article »
Supreme Court Ruling On Lexmark Patents Victory For Consumer Groups
The Supreme Court has handed a victory to consumer groups with its ruling that patent rights do not extend to multiple sales of a single product. The case at hand is called Impression Products v. Lexmark. The case focused on Lexmark’s... More of this article »
McDonald’s Delivery Expanding Across The Nation
McDonald’s (NYSE:MCD) is planning on having its delivery service available in more than 3,500 locations by end of June. That accounts for about 1 in 4 of its U.S. locations. The expansion will more than double the number of its U.S.... More of this article »
New York Times Reducing Employee Total
The New York Times Company (NYSE:NYT) is taking steps to reduce its employee headcount at the Times by offering buyouts to its newsroom employees. The buyouts are aimed primarily at editors, but reporters and others in the newsroom... More of this article »
General Motors Accused Of Using Emissions Defeat Devices
General Motors Co. (NYSE:GM) has been accused of cheating on emissions-testing with its diesel-powered Chevy Silverado, GMC Sierra, and Cruze Diesel models. The class action lawsuit claims that the company used computer software to... More of this article »
Uber Engineer Levandowski Under Fire Over Court Order
Uber has threatened to fire Anthony Levandowski, its current VP of engineering, if he doesn’t comply with a court order and hand over certain documents he is alleged to have taken from Waymo, Google’s self-driving car spinoff.... More of this article »
Foot Locker Disappoints Investors In First Quarter
Foot Locker Inc. (NYSE:FL) missed analysts’ estimates for its first-quarter results, sending its stock on its worst decline in more than eight years. Foot Locker reported first-quarter earnings of $180 million, or $1.36 a share,... More of this article »
Wal-Mart Surprises With Online Sales Strength
Wal-Mart (NYSE:WMT) e-commerce numbers increased dramatically over the same quarter last year, according to its earnings report released Thursday. Its online sales rose a staggering 63 percent and added 0.8 percentage points to its... More of this article »
Biggest Online Retailers Find Themselves In Shipping War
Target (NYSE:TGT), Wal-Mart (NYSE:WMT), and Amazon (NASDAQ:AMZN) are currently engaged in a shipping war. The goal is to lure shoppers away from one of the others with their free shipping threshold and other shipping strategies. Target... More of this article »
Dick’s Sporting Goods’ Shares Fall On Sales Miss
Dick’s Sporting Goods (NYSE:DKS) failed to grow first-quarter same-store sales as much as Wall Street was expecting, as the company is grappling with intense online competition and declining interest in golf. Same-store sales... More of this article »
21st Century Fox Under Federal Scrutiny Over Payments To Ex-Employees
Federal prosecutors want to know if 21st Century Fox (NASDAQ:FOX) improperly accounted for payments to ex-employees to minimize their impact on Fox’s books. Investigators in the U.S. Attorney’s Office for the Southern District... More of this article »
Apple To Invest $1B In US Manufacturing
Apple (NASDAQ:AAPL) has announced that it will be investing $1 billion in manufacturing its products in the United States. Apple CEO Tim Cook made the announcement in an interview with CNBC’s Jim Cramer. The money will be put into... More of this article »
Miami Lawsuit Against Wells Fargo And Bank Of America To Continue
A lawsuit filed by the city of Miami against Wells Fargo (NYSE:WFC) and Bank of America (NYSE:BAC) over discriminatory and predatory lending practices will be allowed to continue. The U.S. Supreme Court ruled that Miami can sue the... More of this article »
United Airlines Incident Leads To Changes In Industry
A couple of weeks ago, the world watched horrified as a United Airlines passenger, battered and bloodied, was dragged off an aircraft in Chicago earlier this month. The resulting backlash put airlines’ longstanding policy of putting... More of this article »
President Trump Proposes Massive Corporate Tax Cut
President Trump has signed three executive orders to spark reviews of tax and financial regulations so taxes on businesses and individuals can be cut. He has pledged that the tax cut in total would be the largest in U.S. history. Part... More of this article »
Becton To Buy C.R. Bard For $24 Billion
Medical devices company Becton Dickinson & Co. (NYSE:BDX) has announced its intentions to purchase C.R. Bard Inc. (NYSE:BCR) for $24 billion. To fund the deal, Becton will use $1.7 billion of its cash, take on $10 billion of... More of this article »
Bebe Stores Is Latest Casualty Of Retail Downturn
California-based Bebe Stores (NASDAQ:BEBE) has become the latest company to join the string of liquidations and bankruptcies that has hit the retail industry. The women’s clothing retailer announced that it was shutting down... More of this article »