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Sears Canada Announces Store Closures, Job Cuts

Posted by Eileen French on Jun 24th, 2017 // No Comments

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...

Uber Offers New Tipping Option On App

Posted by Eileen French on Jun 22nd, 2017 // No Comments

Some Uber passengers can now tip their U.S. drivers with a tap on the ride-hailing app. The new tipping option will first be available in Seattle, Houston and Minneapolis. Uber plans to roll out the feature in all U.S. cities...

DraftKings, FanDuel Merger Facing Challenge by FTC

Posted by Eileen French on Jun 20th, 2017 // No Comments

Federal and state officials have moved to block the fantasy sports merger between DraftKings Inc. and FanDuel. The Federal Trade Commission, joined by the attorneys general of California and the District of Columbia, intends...

Verizon’s Acquisition Of Yahoo Completed

Posted by Eileen French on Jun 15th, 2017 // No Comments

Verizon (NYSE:VZ) has officially completed its deal to acquire Yahoo’s Internet assets. The deal’s close comes nearly a year after the acquisition was first announced. Verizon paid $4.48 billion for the assets. The...

German Grocer Aldi Announces U.S. Expansion Plans

Posted by Eileen French on Jun 13th, 2017 // No Comments

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...

Low Income Consumers Can Now Enjoy Amazon Prime For Less

Posted by Eileen French on Jun 7th, 2017 // No Comments

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....

Plans To Privatize Air Traffic Control System In Works

Posted by Eileen French on Jun 5th, 2017 // No Comments

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...

Criticism Mounts As Herbalife Lowers Sales Guidance

Posted by Eileen French on Jun 5th, 2017 // No Comments

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...

Toyota Flying Car Project Takes Off

Posted by Eileen French on Jun 3rd, 2017 // No Comments

Toyota Motor Corp. (NYSE:TM) has developed a test model for a “flying car” in partnership with a tech start-up. Toyota will invest 42.5 million yen ($386,000) in Cartivator Resource Management over the next three...

Wal-Mart CEO Touts Achievements During Annual Meeting

Posted by Eileen French on Jun 2nd, 2017 // No Comments

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....

Blue Apron IPO Coming Soon

Posted by Eileen French on Jun 2nd, 2017 // No Comments

Meal-delivery service Blue Apron has official filed to go public. The company plans to list its shares on the New York Stock Exchange under the ticker symbol APRN. Blue Apron was founded in 2012 and is known for sending recipes,...

Supreme Court Ruling On Lexmark Patents Victory For Consumer Groups

Posted by Eileen French on Jun 1st, 2017 // No Comments

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...

McDonald’s Delivery Expanding Across The Nation

Posted by Eileen French on Jun 1st, 2017 // No Comments

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...

Exxon Mobil Loses Fight Over Climate Change Assessments

Posted by Eileen French on May 31st, 2017 // No Comments

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...

New York Times Reducing Employee Total

Posted by Eileen French on May 31st, 2017 // No Comments

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...

Goldman Sachs Investment In Venezuela Sparks Criticism

Posted by Eileen French on May 30th, 2017 // No Comments

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...

Millions Of Android Devices Infected With Ad-click Malware

Posted by Eileen French on May 29th, 2017 // No Comments

Tens of millions of Android devices may have been infected with a newly discovered piece of malware used to generate fraudulent ad revenue. Security firm CheckPoint has discovered dozens of Android applications that have been...

General Motors Accused Of Using Emissions Defeat Devices

Posted by Eileen French on May 25th, 2017 // No Comments

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...

President Trump’s Budget Takes Aim At Student Loan Programs

Posted by Eileen French on May 24th, 2017 // No Comments

President Trump’s 2018 budget, released Tuesday, proposes considerable changes to federal student loan programs. The budget contains three main proposals aimed at student loans that would apply to loans that were issued on...

Fiat Chrysler Facing Lawsuit Over Excess Diesel Emissions

Posted by Eileen French on May 23rd, 2017 // No Comments

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....

Apple And Nokia Reach Agreement In Patent Case

Posted by Eileen French on May 23rd, 2017 // No Comments

Apple (NASDAQ:AAPL) and Nokia (NYSE:NOK) have reached a new patent license agreement and have signed a new business deal, ending its legal battle. Nokia’s Chief Legal Officer Maria Varsellona said, “(The agreement)...

Big Changes Coming To Federal Student Loan System

Posted by Eileen French on May 20th, 2017 // No Comments

Students at colleges and universities will soon see changes to how their federal student loans are managed. A plan recently announced by the Education Department is intended to simplify a federal student loan servicing system...

Uber Engineer Levandowski Under Fire Over Court Order

Posted by Eileen French on May 19th, 2017 // No Comments

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...

Foot Locker Disappoints Investors In First Quarter

Posted by Eileen French on May 19th, 2017 // No Comments

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...

Wal-Mart Surprises With Online Sales Strength

Posted by Eileen French on May 18th, 2017 // No Comments

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...

Biggest Online Retailers Find Themselves In Shipping War

Posted by Eileen French on May 17th, 2017 // No Comments

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....

Ford Planning 10% Reduction In Workforce

Posted by Eileen French on May 16th, 2017 // No Comments

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...

Dick’s Sporting Goods’ Shares Fall On Sales Miss

Posted by Eileen French on May 16th, 2017 // No Comments

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...

Thermo Fisher Reveals Plans To Buy Patheon

Posted by Eileen French on May 15th, 2017 // No Comments

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...

Microsoft Blames Spy Agencies For Ransomware Attack

Posted by Eileen French on May 15th, 2017 // No Comments

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...