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US Consumer Sentiment Best in Five Months, Spending to Rise
With the string of positive reports on the economy, American consumer sentiment in June rose to its highest level in five-month, indicating that people will be spending more this year.
More Job Cuts Coming at General Mills to Manage Cost as Sales Remain Sluggish
Struggling with sluggish sales, cereal maker General Mills said Thursday that it will cut up to 725 jobs continuing its recent moves to let go of people and close facilities to manage its costs.
Whole Foods Denies Charges of Overcharging in New York
The New York Department of Consumer Affairs is going after grocery chain Whole Foods for allegedly mislabelling the weight of pre-packed items thus short-changing customers for purchases.
Toyota and Nissan Recalls 3 Million More Cars as Airbag Manufacturer Finally Apologizes
The fallout from the deadly passenger-side airbags made by Takata Corp. again impacted Japanese automakers Toyota Motor Corp and Nissa Motor Co as the two increased the combined number of vehicles to be recalled around the world by 3 million more.
South Korea to Boost Spending as MERS and Drought Batter Economy
The South Korean government plans to spend an additional $13.5 billion this year to protect its economy from the effects of a respiratory disease outbreak and drought.
McDonalds to Sell Taiwan Stores to Franchisees to Focus on China
American burger chain McDonald's Corp. plans to sell its Taiwan stores to a franchise operator to focus more on its operations in China.
Carl Icahn Exits Netflix After Stock Split
Billionaire Carl Icahn sold the remainder of his holdings of Neflix, Inc., again realizing a massive profit even despite having already sold a substantial stake in 2013 as the value of shares continued to surge due to the company's sustained business improvement.
Boeing Appoints New CEO, Turn Over Becomes Official On July 1
Aerospace giant Boeing Co. will have a new CEO on July 1, with Jim McNerney making way for Dennis Muilenburg, one of his top lieutenants.
Australia Joins China-led AIIB, US And Japan Refuse Amid Pacific Disputes
Australia has pledged to join a China-initiated lender seen as a counterweight to rival the World Bank, putting in $718 million in the bank over five years to make it the sixth biggest shareholder.
Ikea to Raise Minimum Wage in the US Anew
Furniture retail giant Ikea will increase its hourly minimum wage in the U.S. by a tenth to $11.87 dollars after a similar move in 2014 improved employee retention and sales performance
UK Firm to Build Hoverbike for US Army
The US Army may soon have a vehicle straight from science-fiction movies after a British company Malloy Aeronautics and US defense contractor SURVICE to develop the hoverbike for the Department of Defense.
1 in 3 Americans Does Not Have an Emergency Fund
Despite increasing wages and going through the Great Recession, almost a third of Americans still have not prepared funds to tide them over in case of an emergency.
Former Fed Chair Bernanke Against $10 Redesign
Former US Federal Reserve Chairman Ben Bernanke said Alexander Hamilton deserves to keep the $10 dollar bill for himself given his role in helping establish the country and contributing to the economic legacy of the United States.
Twitter's Full-Time CEO Needs May Disqualify Interim Chief
Twitter Inc. wants its new CEO to focus solely on the company, casting doubts on whether interim CEO and co-founder Jack Dorsey will lock up the position as he also leads a start-up.
Water Bottling Company Recalls Products Due to E.Coli Contamination
A water bottling company in Pennsylvania recalled 14 of its brands from the market after it found that its water sources may be contaminated with human or animal wastes.
Sales of Previously Owned US Houses Rebound in May
After an unexpected decline in April, sales of previously owned houses in the U.S. in May bounced back to its strongest growth since November 2009 as new home buyers became more confident in purchasing residential properties.
Facebook to Give Youtube Increased Competition for Online Video Ads
Facebook is giving Youtube more reasons to look over its shoulder as the social media network is increasingly becoming a viable outlet for online video ads that have been dominated by Google's video arm.
Twitter Beefs Up Shopping Features
Social media company Twitter is beefing up the shopping features of its platform with dedicated pages and curated pages from brands and personalities.
Apple Heeds Taylor Swift's Call for Payments to Artists During Trial Period of Streaming Service
Faced with the possibility of not having pop star Taylor Swift's hit album "1989" on its music streaming service, Apple Inc. reversed a policy of not paying artists whose music are used by subscribers during a trial period after the musician lashed out against it.
US Auto Safety Regulator Not Up to Task Says Government Report
The U.S.'s main safety watchdog was slammed in a government investigation for not having the capability to properly regulate automakers and check vehicle defects that have claimed numerous lives.
US Restaurants Forced to Raise Prices for Egg Dishes as Bird Flu Cuts Supply
U.S. restaurants continue to struggle from the impact of the avian flu that swept the country last year, as eggs have grown scarce and more expensive forcing some establishments to raise prices.
Anthem Offers to Buy Cigna as US Healthcare Insurance Industry Consolidates
Anthem Inc., the U.S. second largest health insurer, has offered to buy smaller rival Cigna Corp. for about $47 billion as industry players rush to consolidate to manage costs as applications rise due to the the Obama administration's landmark Patient Protection and Affordable Care Act.
Ebay Sells Stake in Craigslist, Ends Legal Disputes
Online marketplace Ebay Inc. sold its 28.4% stake in Craigslist back to the internet classified site and ended the litigation between the two.
Hershey to Cut 300 Jobs as Sales Weaken
American chocolate maker Hershey Co. announced on Friday that it will cut 300 jobs and profits will be lower than originally projected due to slowing sales in China.
Acquisition of Martha Stewart Living by Licensing Firm Set to Happen
Struggling to replicate its early success coming from the popularity of its founder and challenged by changing taste of audiences, multimedia and merchandising company Martha Stewart Living Omnimedia Inc. is reportedly close to being bought by a firm that licences popular brands.
Rising Gasoline Prices Pull up U.S. Inflation for Fourth Straight Month
Inflation in the U.S. rose for the fourth straight month in May largely driven by rising gasoline prices, but the slow increase might give the Federal Reserve more reason to continue keeping interest rates low.
Uber May Face Cost Pressures After Drivers Classified as Employees in California
The California Labor Commission ruled that a driver for ride sharing service provider Uber is an employee and not a contractor, a decision that could potentially bloat its costs and affect other crowdsource service providers.
McDonald's To Close More US Stores Than It Will Open, People's Preference For Healthier Food A Problem
For the first time in 40 years, American fastfood chain McDonald's Corp. will close more restaurants in the U.S. than it is opening as the company continues to struggle against increased competition, preference for healthier food and loaded menus that slow down service.
Airbus Edges Boeing in Paris Air Show, Sells 421 Aircrafts Worth $57 Billion
Airbus Group SE booked $57 billion in sales in the 2015 Paris Air Show to beat rival Boeing Co.'s $50.2 billion tally.
Softbank To Sell Humanoid Robots Soon, Only 1,000 Units Available Each Month
Japanese tech giant is set to offer a humanoid robot programmed to understand human emotions. Those wanting to have a robot that can understand human emotions can have one soon.
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