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American Apparel Funding Woes Continue, Warns Investors Possible Losses
American Apparel Inc warned on Tuesday that shareholders may lose their investment in the company if it cannot raise capital soon as its remaining funds are insufficient to run the business for another year.
US Authorities Go After Hackers and Traders Who Made $100 Million from Stolen Press Releases
A group of U.S. of equity traders and hackers in Ukraine earned $100 million in profits over five years after getting insider information from undispatched corporate press releases and using those to guide them.
Target to Remove Gender-Based Labels in Stores in Response to Consumer Backlash
American retailer Target Corp. announced on Friday it will do away with gender-based signages used as its stores as the company came under fire for allegedly perpetuating stereotypes.
Xiaomi Partners With Foxconn to Produce Phones In India to Bolster Strength In Second Biggest Smartphone Market
Chinese phone maker Xiaomi Inc has entered into a partnership with Taiwan's Foxconn Technology Group to open a manufacturing facility in India in a bid to further strengthen its position in one of the leading smart phone markets in the world.
Nokia Plotting Mobile Phone Comeback Amid Long Absence, Tough Competition
Finnish phone maker Nokia is looking to make a comeback with moves aimed to make the company more competitive in the handset business it once surrendered to Microsoft.
Chinese E-Commerce Giant Alibaba Buys 20% Stake in Suning for $5 Billion to Boost Services
Chinese e-commerce giant Alibaba bought a 20% stake in Chinese consumer electronics retailer Suning for $4.6 billion saying the investment will help its distribution network in the country.
U.S. Oil Rigs Rise for Third Week Despite Low Crude Prices
U.S. energy firms added six oil rigs last week despite a decline in crude futures on concerns about the market situation.
BHP Billiton to Cut 380 Jobs in Australian Mine Due to Falling Commodity Prices
Mining giant BHP Billiton announced on Sunday a move to cut 380 jobs at its Olympic Dam copper and uranium mine in Australia due to a challenging global business environment and to ensure the sustainability of operations.
US Employment Numbers Improve in July, Interest Rate Hike Expected in September
The U.S. unemployment rate remain unchanged in July, but analysts are firm in their outlook that the Federal Reserve will raise interest rates in September given the steady addition of jobs and improving wage conditions.
Coke to Buy Stake in Juice Maker Suja to Bolster Health Drink Portfolio
Soft drink giant Coca-Cola Co. is close to buying a minority stake in U.S. organic juice company Suja Life LLC, as the beverage maker continues to diversify its portfolio to adapt to changing consumer tastes.
Berkshire Nears Largest Acquisition with $30 Billion Purchase of Precision Castparts
Warren Buffett's Berkshire Hathaway Inc. is reportedly closing on its largest acquisition ever with a deal to buy Precision Castparts Corp. soon to be signed.
Thousands of Verizon Workers May Go on Strike Sunday with Deal with Unions Not in Sight
Verizon Communications Inc. is facing a possible strike from close to 40,000 workers in its East Coast operations on Sunday with the company and its unions unable to agree on a new deal even as the contract is set to expire on Saturday.
Kraft Heins Voluntarily Recalls Cheese Slices on Choking Hazard Concerns
American food giant Kraft Heinz Company has voluntarily recalled select code dates and manufacturing codes of Kraft Singles individually-wrapped cheese slices after several customers complained about choking from the wrapper that remain stuck on the product.
Colorado Credit Union for Marijuana Businesses Sues Federal Financial Authorities, Says Relying on Cash Posts Security Risks
A credit union that aims to serve Colorado's marijuana industry, has filed cases against the Federal Reserve and the National Credit Union Administration for barring them from doing business with other financial institutions.
US Second Quarter Wage Growth Slowest Since 1982 Despite Tighter Job Market
Employee compensation in the United States slowed down in the second quarter due to weak commissions from sales, with analysts torn whether the weak data would prompt the Federal Reserve to raise interest rates or not.
Apple Visit to BMW Headquarters Shows Possible Interest in Auto Industry, But Carmaker of Partnership
Tech giant Apple may be gearing up for an entry into the auto industry, with a Reuters reporting that CEO Tim Cook had visited the headquarters and a factory of BMW to learn more about the business.
US Auto Safety Regulator Warns Carmakers Against Cybersecurity Risks, Calls on Proactive Steps Against Vulnerabilities
The top U.S. auto safety regulator said on Friday that other carmakers must move to address potential cyberhacking vulnerabilities of their vehicles after several cybersecurity experts showed it is possible to remotely take over Internet-enable vehicles.
Volkswagen Overtakes Toyota as World's Top Automaker But China Reliance a Concern
Germany' Volkswagen snatched the top spot from Japan's Toyota as the world's largest automaker after selling more vehicles in the first half of 2015.
Nike Settles Lawsuit Against Fitness Device, But Says It Did Nothing Wrong
Footwear and sports apparel giant Nike Inc. is set to settle a lawsuit filed against the company for selling a popular company device that allegedly supplies inaccurate data on users fitness activity.
Amazon's Jeff Bezos Rises Up In Wealthiest Rankings With $7 Billion Boost From Company's Stock Surge
Amazon.com Inc. founder and CEO Jeff Bezos has a lot to be happy about these days. Amazon. com Inc. founder and CEO Jeff Bezos has a lot to be happy about these days.
Top US Companies to Pledge $140 Billion in Investments in Support of White House Climate Change Drive
Several top U.S. companies have promised to support the Obama administration's latest initiative to address climate change, committing $140 billion in investments to reduce carbon emissions ahead of a United Nations summit this year.
Fiat Chrysler Faces Record $105 Million in Fines Over Unsatisfactory Recalls, May Implement Vehicle Repurchases
Automaker Fiat Chrysler is set to face a record $105 million in fines for unsatisfactory execution of its recalls for millions of vehicles, according to a Wall Street Journal Report.
Converse Introduces Redesigned, More Comfrotable Chuck Taylors
Apparel maker Converse introduced on Friday redesigns to its iconic sneaker Chuck Taylors to improve comfort and boost sales.
AT&T Completes $48 Billion Acquisition of DirecTV to Create Biggest Cable Company in US
AT&T Inc., the second largest wireless carrier in the United States, announced on Friday that it had completed its acquisition of DirecTV, the leading pay TV company in the country, a deal valued at $48.5 billion that creates the biggest cable company in the U.S.
Pearson in Talks to Sell Stake in The Economist Following Divestment of Financial Times
Following its sale of the daily newspaper Financial Times to Japanese media group Nikkei, Britain's Pearson confirmed on Saturday plans to sell its stake in weekly business magazine The Economist as the British firm continues to exit the media business.
Anthem to Buy Cigna for $54 Billion, Competition Authorities Expected to Closely Review Deal
US healthcare insurer Anthem, Inc. announced on Friday a deal to buy rival Cigna Corporation for $54.2 billion to create the largest player in the industry,but the transactions is expected to draw scrutiny from regulators amid concerns that the consolidation may limit options for consumers.
Paypal Returns to Nasdaq Valued at $50 Billion, Larger than Parent Ebay
Online payment platform Paypal Holdings Inc. is set to make its return to the Nasdaq on Monday with a market value larger than its parent company eBay Inc.
SunEdison Acquires Vivint Solar to Enter Residential and Commercial Solar Power Business
Solar power company SunEdison Inc announced on Monday a deal to buy Vivint Solar Inc for about $2.2 billion to enter the residential and commercial solar power business.
JP Morgan Chase to Pay $388 million in Mortgage Securities Case
JPMorgan Chase & Co will pay $388 million in exchange for settling a lawsuit by investors who claimed they were misled by the bank on the soundness of purchasing $10 billion worth of residential mortgage-backed securities it sold before the financial crisis.
Google Adds Record $65 Billion in Value in One Day
Google Inc added close to $65 billion to its market value last Friday, after it outperformed profit expectations on the strong performance of its Youtube business and in anticipation of more disciplined spending.
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