Michael Smith
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JPMorgan Chase Officials Respond To New Regulations And Breakup Speculation
JPMorgan Chase officials responded to speculation from investors and analysts earlier this week, offering explanations for allegations of a possible break up induced by new regulations.
Office Depot Expects Sales To Fall This Year As Weak Demand For Office Supplies Continue
Office Depot announced on Tuesday that it expects sales to drop this year due to a weak demand for office supplies and a stronger United States dollar, Reuters reports.
JPMorgan Cuts Up To $100 Billion In Client Excess Deposits
JPMorgan Chase & Co. will cut up to $100 billion in client excess deposits in an attempt to limit the amount of borrowed money the company relies on to prevent future economic crises.
Comcast Reports Rise In Fourth-Quarter Earnings With Increased Broadband Internet Customers
Comcast Corp. announced on Tuesday that its fourth-quarter net income rose 0.6 percent to $1.93 billion, attributing the success to increased broadband internet customers.
Dish Network Chief Executive Joe Clayton Steps Down
Dish Network announced on Monday that Chief Executive Joe Clayton will retire on March 31 and step down from his position, CNBC reports.
Target Decreases Minimum Online Order Size To Boost E-Commerce Sales
Target has decreased its minimum online order size requirement by half, down from $50 to $25, in an attempt to boost e-commerce sales and remain competitive against industry rivals Best Buy, Amazon and Wal-Mart.
Procter & Gamble Cuts Brands In Portfolio Transformation
Procter & Gamble is planning to cut several brands from its portfolio in an effort to simplify its portfolio and focus on profit-inducing brands.
Snapchat Execs Seek New Round Of Funding To Push Company Value To $19 Billion
Snapchat officials are searching for a new round of funding that would make the company as valuable as $19 billion, Bloomberg Business reports, citing a source with knowledge of the initiative.
Berkshire Hathaway Sells 41 Million Shares In Exxon Mobil Corp.
Berkshire Hathaway, owned by billionaire Warren Buffett, sold 41 million shares in Exxon Mobil Corp. (XOM) in the fourth quarter of fiscal year 2014 amidst the global drop in oil prices.
Rolls-Royce Breaks Into Off-Road SUV Market
Rolls-Royce has announced that it will begin producing an off-road sports utility vehicle (SUV), The Telegraph reports, making the company's entrance into the market.
Ferrero International Expected To Receive Over $18.2 Billion In Purchase Offers Following Owner's Death
Ferrero International, the company that produces Nutella spread and Ferrero Rocher chocolates, is expected to receive over $18.2 billion in purchase offers following the death of its founder Michele Ferrero, who passed away on Saturday, Business Insider reports.
Rolls-Royce Responds To Allegations Of Bribery In Brazil, Says It Does Not 'Tolerate Improper Business'
Rolls-Royce has responded to allegations reported by the Financial Times claiming the company paid bribes for a contract with the Brazilian oil firm Petrobras, BBC News reports.
Online Hackers Steal Up To $1 Billion From Banks Around The World
Computer hackers have stolen up to $1 billion from approximately 100 banks in 30 different countries, Russian security company Kaspersky Lab reports, according to the New York Daily News.
Federal Aviation Administration Unveils Regulations On Drone Usage By Corporations
The Federal Aviation Administration (FAA) unveiled proposed regulations on corporate usage of drone technology on Sunday, foretelling the possibility of automated flight becoming more common.
AIG Reports Profit Decrease In Fourth-Quarter Earnings Following Debt Redemption
Insurance company American International Group (AIG) announced a 67-percent profit decrease in its recent fourth-quarter earnings report, citing debt redemption and additions to reserves as the primary reasons for its unfavorable status.
Kraft Foods Announces Leadership Changes, Seeks Shift In Branding Strategy
Kraft Foods announced on Thursday that Chief Financial Officer Teri List-Stoll will leave her position on Feb. 28, along with the departure of two other senior executives, Reuters reports.
Kellogg Reports $293 Million Fourth-Quarter Losses
The Kellogg Company on Thursday reported that it lost $293 million (82 cents per share) in the fourth quarter of fiscal year 2014, the New York Times reports.
CBS Reports Highest Fourth-Quarter Revenue
CBS announced on Thursday that it earned 79 cents per share on $3.68 billion revenue, making it the highest fourth-quarter revenue and diluted earnings per share in the company's history, according to the Hollywood Reporter.
Expedia To Purchase Orbitz For $1.33 Billion Amidst Anti-Trust Concerns
Expedia Inc., one of three of the largest online travel companies, announced on Thursday that it will purchase rival Orbitz Worldwide Inc. for approximately $1.33 billion, Reuters reports.
Volkswagen, PG&E Finance Electric Vehicle Infrastructure Projects In The United States
California-based Pacific Gas & Electric Co. (PG&E) and Volkswagen of America have both announced plans to develop electric vehicle infrastructure projects in the United States.
Yelp Endeavors Into Food Delivery Business By Purchasing Eat24 Mobile Application
Yelp has purchased the food delivery mobile application Eat24 for $134 million, initiating its venture into the ordering business, currently dominated by groups like Delivery and GrubHub.
Halliburton Announces Plans To Cut Eight Percent Of Global Workforce
Halliburton Co. has announced that it is planning on cutting up to eight percent of its global workforce, affecting as many as 6,400 workers.
Coca-Cola's Sales In North America Are Rising, Shifting The Company's Focus Toward A Domestic Market
Sales for Coca-Cola Co. in North America rose two percent in the fourth quarter of financial year 2014, marking the company's largest domestic gain in two years, Bloomberg Business reports.
McDonald's Reports Worldwide Sales Drop For January
McDonald's reported on Monday that its worldwide sales have dropped for the month of January, mentioning that transactions at locations open at least 13 months fell 1.8 percent, Fortune reports.
Qualcomm To Pay $975 Million For Violating Anti-Monopoly Laws In China
Qualcomm announced on Monday that it will pay $795 million for violating one of China's anti-monopoly laws, adding that it will begin offering discounts for for third-and fourth-generation communications systems in the country, the New York Times reports.
Michael Kors Expects Lower Profits For Current Quarter As Same-Store Sales Drop
New York City-based luxury accessories retailer Michael Kors has announced that it expects lower profits for the current financial quarter than originally expected, given a recent drop in same-store sales across North America.
Anthem Health Insurance Security Breach Affects Millions Of Customers
Managed healthcare company Anthem has announced that hackers have attacked the company's computer system, compromising the personal information of millions of customers around the country.
RadioShack Slated For Bankruptcy Following New York Stock Exchange Suspension
RadioShack is said to be heading for possible bankruptcy following its recent suspension from the New York Stock Exchange.
Staples Will Purchase Office Depot For An Equity Value Of Approximately $6.3 Billion
Staples Inc. will purchase Office Depot Inc. for an equity value of approximately $6.3 billion ($11 per share), reducing the country's office supply industry to a single major chain.
Exxon Mobil Stocks Expected To Decrease In 2015
Exxon Mobil's stocks are expected to decrease for financial year 2015, CNBC analyst Jim Cramer revealed during a recent interview featured on the channel's "Squawk On The Street" program.
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