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Boeing Bullish Over Long Term Prospects in China Despite Economic Turbulence
U.S. aircraft maker Boeing Co. remains confident about its business prospects in China, raising demand projections for the country even as its economy cools down and its stock market slumps.
Ashley Madison Sued for Poor Data Protection, Users Report Receving Blackmail Threats
A man has filed a lawsuit in the U.S. against infidelity website Ashley Madison and its parent company for allegedly causing him emotional harm as the site has failed to properly secured the site as seen by the disclosure of hacked information of subscribers.
Sears Appoints Former J&J Exec to Turnaround Flagging Brands
Sears Holdings Corp. has created a new position to be occupied a former Johnson & Johnson executive, who is tasked to turn around several of the retailer's struggling brands, Reuters reported.
Pfizer Gets FTC Approval for Hospira Acquisition But Must Divest Seveal Sterile Injectible Assets
Pharmaceutical giant Pfizer Inc. said on Monday it has secured U.S. regulatory clearance to acquire smaller rival Hospira Inc., but must first sell several of its sterile injectable drugs business.
Apple CEO Assures Investors Business in China Remains Strong as Market Slows, Stock Drops
Apple Inc. Chief Executive Tim Cook gave a rare mid-quarter update on its business performance in China saying sales there strongly grew in July and August to assure investors that the company has not been affected by the slowing economy there.
Apple to Recall Some Iphone 6 Worldwide to Fix Cameras Taking Blurry Photos
Apple Inc. will implement a worldwide recall of iPhone 6 smartphones to fix for free back cameras found to be taking blurry photos.
China Market Crash, U.S. Dollar Retreat Send Shockwaves Across the Globe
Markets across the world swooned on Monday after the sharp fall of China's stock market combined with the slide of the U.S. dollar spooked investors across the globe to selling their holdings.
Private Document Shows Uber's Rapid Growth Despite Business Challenges
Uber Technologies Inc. expects worldwide bookings to balloon to $26.12 billion next year from just $2.91 billion last year despite regulatory challenges as more commuters prefer to use its ride hailing service than traditional taxis, Reuters reported.
Honda Faces Airbag Problems Anew In US, Safety Regulators Say Up to 384,000 May Be Recalled
The U.S. National Highway Traffic Safety Administration (NHTSA) will investigate Japanese car maker Honda Motor Co. for its 2008 Accord sedans which motorists are complaining against for alleged faulty airbags that do not deploy during crashes.
Starbucks to Offer Wines, Craft Beer to 2000 Stores in Five Years
U.S. coffee house chain Starbucks Corp. is introducing wines, craft beer and small dinner dishes to more stores seeing a huge potential from drawing in the evening crowd aside from its regular coffee drinkers, USA Today reported.
McDonald's on Hot Seat in Brazil Over Business Practices But Local Franchisee Maintains Operations Above Board
Stakeholders from five continents converged on Brazil's Senate on Thursday to accuse U.S. fast food giant McDonald's Corp. of various misdeeds ranging from alleged employee mistreatment to dodging of taxes.
McDonald's Announce Second Franchising Deal in Russia Despite Slow Economy
U.S. fast food giant McDonald's Corp. announced on Friday that it has signed a deal to with a Russian franchisee to that would allow the company to establish a presence in the Siberian region.
Deere Cuts Profit Targets as Weak Crop Prices Hurt Sales of Farm Equipment
Deere & Co DE. third quarter profits plunged as the company's sales were hurt by the stronger dollar and tepid demand for agricultural equipment due to weak crop prices.
Daimler Open to Partnerships with Apple, Google for Smartcars, But Does Not Want to be Mere Car Supplier
German carmaker Daimler AG's chief executive said the company is open to partnerships with American tech giants Apple and Google to advance efforts in building the next generation of smart cars.
U.S. July Inflation Rises Modestly for Sixth Month, Rate Hike Still Likely
Pulled back by a steep decline in airfares despite rising costs of housing, U.S. inflation only rose modestly in July with another lower-than-projected rise in consumer prices likely this year .
Japan's Kirin Gets Controlling Stake in Top Myanmar Brewery, Expects Strong Market Growth
Japan's Kirin Holdings has taken a controlling stake in Myanmar's biggest brewer after buying out top shareholder Fraser and Neave as it continues to expand abroad amid a challenging domestic market.
Target Profits Surge to Beat Market Expectations on Sustained Same-Store Sales Growth
Shopping chain Target Corp. on Wednesday announced higher profit outlook for the year due to better performance than anticipated and continue same-store sales growth
Southeast Asia's GrabTaxi Raises $350 Million as E-Hailing App a Hit in the Region
Singapore's Grab Taxi Holdings Pte Ltd., an online ride sharing service in Southeast Asia, has raised $350 million from private placements.
NBCUniversal Invests $200 Million in Buzzfeed to Continue Digital Media Push
A week after buying a $200 million stake in digital media producer Vox Media, NBCUniversal has again invested $200 million in Buzzfeed, another online media company, as the entertainment conglomerate expands online.
Tencent Invests $50 Million in Canadian Startup Kik
Chinese Internet giant Tencent Holdings Ltd. has invested $50 million in Canadian startup Kik Interactive Inc., putting the tech company's value at $1 billion.
Yum Brands Appoints New China CEO, Expects Performance Improvements in H2
Fastfood chain operator Yum Brands Inc. has named a new chief executive for its China operations, where it receives half its sales despite challenges from food-safety issues and changing consumer preference.
Estee Lauder Earnings Decline as Strong Dollar Bites
Cosmetics maker Estee Lauder Cos Inc's profits dropped by more than 40 percent for the quarter ending June, hurt by a stronger dollar and weak demand for skincare products Clinique and Estee Lauder.
Pentair Business Boost Seen with Erico Global Acquisition
Pump and valve maker Pentair Plc announced on Monday the acquisition of electrical fastenings company Erico Global Co. including its debts for $1.8 billion in cash, the New York Times reported.
Foreign Companies in Tianjin Port Suspend Operations as Investigations Continue
Foreign companies around the Tianjin port damaged by a massive blast last week are holding off restarting their operations as officials continue to investigate the cause of the explosions.
Cargill Expands Aquaculture Business with EWOS Acquisition, Will Become Among Leaders in Feed Production
Cargill Inc. will acquire Norwegian salmon-feed supplier EWOS AS for $1.5 billion from private-equity firms Altor Equity Partners AB and Bain Capital Partners LLC as the world's largest grain trader expands its aquaculture business.
Airbus Signs $27 Billion Deal with India's IndiGo for 250 Aircrafts
France's Airbus has signed a deal to sell 250 narrow-body aircraft worth $26.5 billion to IndiGo, India's largest airline which seeks to further cement its leadership in the country's booming aviation industry.
Volkswagen Recalls 460,000 Vehicles in US and Canada on Airbag Issues, Unrelated to Takata Pullout
German carmaker Volkswagen recalled on Friday close to half a million cars in The United States and Canada to ensure that air bags will deploy properly.
US Consumer Sentiment Slides for Second Straight Month But Healthy Economy Suggests Rebound
U.S. consumer confidence dipped for the second consecutive month in August on concerns that an interest rate hike is upcoming, Bloomberg reported.
Macy's Sales Fall Short of Expectations, Announces Entry Into China
Macy's Inc did not meet sales expectations as the stronger dollar dampened foreign tourist spending in its stores while strikes in the West Coast ports and the removal of a sales event further affected performance, reports said.
Kraft Heinz to Axe 2,500 Jobs in Cost Cutting Efforts to Save $1.5 Billion by 2017
Food giant Kraft Heinz Co said on Tuesday that it will axe 2,500 positions in the United States and Canada as the company begins an integration that will allow it to save $1.5 billion until 2017.
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