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France To End Sales Of Gas And Diesel Vehicles
France has announced that it aims to end the sale of gasoline and diesel cars in the country by 2040. The announcement was made by Nicolas Hulot, the French environment minister. Mr. Hulot said that the government would make investments... More of this article »
Sears Canada Announces Store Closures, Job Cuts
Sears Canada Inc. (NASDAQ:SRSC) has sought court protection from its creditors so it can eliminate nearly 3,000 jobs and close 59 stores. The company secured protection from Ontario Superior Court under the Companies’ Creditors and... More of this article »
Exxon Mobil Loses Fight Over Climate Change Assessments
Exxon Mobil (NYSE:XOM) investors have voted to require the oil giant to report on the impact of global measures designed to limit climate change at the annual meeting Wednesday. The resolution was introduced by the New York State Common... More of this article »
Goldman Sachs Investment In Venezuela Sparks Criticism
Goldman Sachs Group’s (NYSE:GS) recent purchase of $2.8 billion in Venezuelan bonds has resulted in the company having to defend its actions. The bonds were issued by state oil company Petróleos de Venezuela SA in 2014 and are... More of this article »
Fiat Chrysler Facing Lawsuit Over Excess Diesel Emissions
The U.S. Department of Justice is filing a civil suit against Fiat Chrysler (NYSE:FCAU) for violating the Clean Air Act. The DoJ released an announcement Tuesday stating that they will be filing the lawsuit against the company. The... More of this article »
Ford Planning 10% Reduction In Workforce
Ford Motor (NYSE:F) is reportedly making plans to cut about 10 percent of its workforce around the world. Worldwide, the company employs about 200,000 people, so 10 percent comes out to about 20,000 potentially lost jobs. The cuts... More of this article »
Thermo Fisher Reveals Plans To Buy Patheon
Biotech company Thermo Fisher Scientific Inc. (NYSE:TMO) has announced its intentions to buy Dutch drug-ingredients maker Patheon NV (NYSE:PTHN) for $7.2 billion. The deal’s value includes approximately $2 billion of net debt.... More of this article »
Microsoft Blames Spy Agencies For Ransomware Attack
Microsoft (NASDAQ:MSFT) is blaming government agencies for a massive, new ransomware attack that affected hundreds of thousands of computers around the globe. The WannaCry – or WannaCrypt/WanaCrypt – malware locked down... More of this article »
Jimmy Choo Looking For Buyers
Luxury shoe brand Jimmy Choo (LON:CHOO) announced Monday that it was putting itself up for sale. Jimmy Choo became famous for its stiletto shoes and accessories and its fans have included the late Princess Diana and “Sex and... More of this article »
ExxonMobil Requests Waiver From Russia Sanctions
ExxonMobil (NYSE:XOM) has asked the U.S. Treasury Department for permission to bypass sanctions on Russia. A waiver would allow Exxon to resume its joint venture with Russian oil giant Rosneft. The financial incentives for Exxon are... More of this article »
Barclays Issues Reprimand To CEO Over Actions Against Whistleblower
Barclays (NYSE:BCS) Chief Executive Jes Staley has been reprimanded by the firm’s board for attempting to uncover a whistleblower’s identity. Barclays grants whistleblowers anonymity to prevent any retribution for their actions.... More of this article »
Uber Ending Service In Denmark After Rules Change
Uber has announced that it will be ending service in Denmark. The company cited “unworkable” changes to local taxi rules for its decision to pull out of the country. Uber said in a statement that it would shut down its services... More of this article »
Amazon Turns Focus To Middle East With Souq.com Deal
Amazon (NASDAQ:AMZN) has made a deal to acquire Souq.com, the largest online marketplace site in the Middle East. Amazon will buy 100 percent of the Middle East online retailer, executives from both firms said. The value and terms... More of this article »
Disney Scores Big With ‘Beauty And The Beast’ Remake
Disney’s (NYSE:DIS) Beauty and the Beast has set a new box office record. Disney’s live-action remake of the beloved 1991 animated classic averaged $40,380 per location from 4,210 theaters on its opening weekend, reaching a spectacular... More of this article »
Mexico Axes Tariffs As Part Of NAFTA Negotiations
Mexican Economy Minister Ildefonso Guajardo has announced that his country will walk away from the NAFTA negotiations if the U.S. puts a tariff on products from Mexico. During the presidential campaign last year, then-candidate Donald... More of this article »
Amazon Increasing Its European Workforce By 30%
Amazon (NASDAQ:AMZN) has pledged to create 15,000 new full-time jobs across Europe by the end of 2017. Amazon said in its statement, “These employees will be working on global customer innovations like Alexa, Prime Air, Prime Video,... More of this article »
Shell Announces Sale Of Oil Fields
Royal Dutch Shell Plc (NYSE:RDS.A) has announced that it will be selling of some of its fields in the North Sea to Chrysaor Holdings Ltd. for about $4 billion. Shell has also inked a deal to sell its stake in an offshore Thai gas field... More of this article »
Facebook Testing Fake News Filtering In Germany
Facebook (NASDAQ:FB) has announced that it will begin testing its fake news filtering system in Germany. The company said it began testing a similar filter that would allow users to report fake news in the United States last month.... More of this article »
Boeing Makes $22B Deal With SpiceJet
Boeing (NYSE:BA) has inked a $22 billion deal with Indian budget carrier SpiceJet to sell the company 155 airplanes. The deal renegotiates old orders for 55 planes and includes options for 50 more, including wide-body aircraft. SpiceJet’s... More of this article »
McDonald’s Agrees To Sell Most Of China, Hong Kong Business
McDonald’s Corp. (NYSE:MCD) has agreed to sell the bulk of its China and Hong Kong business for up to $2.1 billion in a 20-year deal. The deal will form a new company that will link McDonalds with Chinese company CITIC Limited,... More of this article »
New McDonald’s Opens Near Vatican Amid Controversy
Last week, a new McDonald’s (NYSE:MCD) opened just outside Vatican City, 100 yards from the holy state, home of the Pope. The restaurant is located in the Roman district of Borgo, at the corner of Borgo Pio and Via del Mascherino.... More of this article »
Hyundai & Kia Optimistic For 2017
South Korea’s largest automakers Hyundai Motor Co. and its affiliate Kia Motors Corp. have expressed optimism for the coming year, with both saying that they plan to expand production and increase sales. The companies forecast that... More of this article »
Apple Wins Holiday Season Smartphone Sales
Apple (NASDAQ:AAPL) has dominated holiday season smartphone sales once again. Flurry Analytics estimates that the company captured 44 percent of device activations during the Dec. 19 to Dec. 25 period. Samsung followed at 21 percent,... More of this article »
Boeing Contract With Iran Worth Half Of Stated Amount
Iran has announced that it has negotiated a great discount on its contract with Boeing Co. (NYSE: BA), agreeing to pay roughly half the listed amount for the aircraft ordered. Iran Air has a contract with Boeing to purchase 80 new... More of this article »
Facebook Under Fire In Europe Over Whatsapp Deal
Facebook (NASDAQ:FB) is facing accusations in Europe that it misled regulators to receive regulatory approval for its $19 billion purchase of internet messaging service WhatsApp. Margrethe Vestager, Europe’s competition chief, said... More of this article »
Germany Takes On Facebook And Fake News
Facebook’s (NASDAQ:FB) “fake news” problem may be about to cost the company a lot of money in fines. German politicians are considering a law that would fine the company €500,000 ($519,525) for each false news post... More of this article »
Apple Takes On EU In $14B Court Fight
Tech giant Apple (NASDAQ:AAPL) is gearing up to battle the European Commission in court over a $14 billion tax charge. This week, the company is reportedly launching a legal challenge over a ruling that found it owed roughly that much... More of this article »
Obama Administration Blocks Raytheon Sale To Saudi Arabia
The White House has decided to limit arms sales to Saudi Arabia, directly targeting a sale by Raytheon Co. (NYSE:RTN). The administration has made the decision to block the sale of about 16,000 guided munitions kits by Raytheon to... More of this article »