Michael Smith
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Shake Shack Files For Initial Public Offering, Profits Expected
Shake Shack, the fast casual restaurant franchise that was started in New York City, has filed for an initial public offering (IPO).
Growing Chinese Smartphone Company Xiaomi Appraised At $45 Billion
Chinese smartphone developer company Xiaomi has received a favorable appraisal: the corporation is worth approximately $45 billion, the New York Times reports.
MasterCard Reveals Casual Dining, Jewelry And Women’s Apparel As Top Sales Boosters
MasterCard has announced the top holiday sales boosters for this year: casual dining, jewelry and women's apparel topped the list, the Chicago Tribune reports.
Amazon Receives Over 10 Million Prime Subscribers Despite Recent Hack Attacks
Amazon has reported that over 10 million people have enlisted for Prime subscription service for the first time-the news comes as hacker group Anonymous released thousands of the site's user passwords and other sensitive information.
Citigroup Announces Plans To Sell Japanese Retail Banking Business
Citigroup has announced plans to sell its Japanese retail banking business in Japan to Sumitomo Mitsui Banking Corp., USA Today reports.
Forty Five Philadelphia Taxi Groups File Federal Law Suit Against Uber
A total of 45 Philadelphia-based taxi corporations have filed a federal law suit against application-based transportation company Uber. The company has been accused of fraudulent financial practices, including racketeering.
American Airlines Announces Wage Increase For Flight Attendants Following Oil Price Drop
American Airlines has made an important announcement regarding wages and expenses: the company revealed on Tuesday that it will pay flight attendants an additional four percentage points of what they already earn, Reuters reports.
Keurig Recalls Over 7 Million Single-Serve Coffee Brewing Machines
Vermont-based coffee brewing manufacturer Keurig has announced that it is recalling over 7 million single-serve machines in the United States and Canada. Many customers have been complaining about spewing liquids resulting in burn injuries.
Oracle Corporation Appoints Jill Puleri, Acquires Datalogix In Digital Marketing Expansion
The Oracle Corporation has announced the appointment of Jill Puleri as the company's new Senior Vice President and General Manager.
Procter & Gamble To Sell Camay And Zest To Unilever In Undisclosed Deal
Procter and Gamble announced that it will sell its staple brands Camay and Zest, both of which are soap companies, to Unilever for an undisclosed amount, CNBC reports.
Caesars Entertainment Operating Company To File For Chapter 11 Bankruptcy
Caesars Entertainment Operating Company, the owner of the Caesars Palace Hotel and Casino in Las Vegas, will file for a voluntary Chapter 11 bankruptcy in mid-January, the New York Times reports.
Staples Announces Security Breach Affecting 1.2 Million Customer Cards
Cyber criminals have breached Staples' internal data systems, compromising the security of 1.2 million customer cards, the company said in an update on Friday.
Kraft Foods CEO Resigns Amidst Profit & Sales Sluggishness
Kraft Foods Group's Chief Executive Officer Tony Vernon has resigned from his position-the announcement comes as the company reports sluggish profits and sales.
Rite Aid Prescription Drugs Usher In Record-Breaking Quarterly Profit
Rite Aid Corp.'s increase in sales of prescription drugs has ushered in record-breaking quarterly profit and revenue.
Uber Subject To Criticism Following Australia Price Hike
International rideshare and taxi company Uber has been criticized for raising prices in Australia while customers were trying to flee an area of Sydney following an armed hostage situation.
Boeing Shares Break Records Following Quarterly Dividend Expansion
Boeing, one of the world's largest aircraft manufacturing companies, increased a share-repurchase plan to $12 billion, the largest in its history, following its 25-percent quarterly dividend increase, Bloomberg reports.
Wal-Mart Under Attack For China Business Policies
Wal-Mart has come under attack by investors over revelations demonstrating that the company used questionable sales practices in China.
Spirit Airlines Experiences Weaker Unit Revenue, Downgraded To ‘Market Perform’
Low-cost carrier Spirit Airlines is experiencing a weak unit revenue outlook and has been downgraded to a "Market Perform" status by Hot Research financial analyst Raymond James, Barron's reports.
Uber Expansion Challenged In Thailand And Spain
Transportation company Uber, which has witnessed substantial international growth, may have a roadblock ahead of themselves.
Abercrombie & Fitch CEO Resigns Amidst Financial Woes
Abercrombie & Fitch CEO Mike Jeffries has officially retired from his position-his resignation comes as the company announces major financial troubles.
American Airlines Merger With US Airways Ushers In Renovation Plans
American Airlines, which is set to merge with US Airways next year, is looking to spend $2 billion on planned renovations that include restructuring planes and lobbies.
McDonald's Stock And Sales Drop For Month Of November
McDonald's, once thought to be one of the most successful fast food franchises in the world, is continuing to experience economic downfall.
Starbucks Embarks On New Business Model Venture
Starbucks is slated to embark on a new business model venture: the opening of a Reserve Roastery and Tasting Room molded after other boutique coffee chains.
Sky Bet Sells Contributing Stake To CVC Capital Partners
Sky Television, the United Kingdom-based telecommunications company known for its regional broadcasting, has decided to sell a contributing stake in Sky Bet to CVC Capital Partners, the Irish Examiner reports.
UberPOOL Offers Ride-Sharing Program Promising Lower Expenses
Uber has announced plans to launch UberPOOL, a ride-sharing service allowing customers to ride together in "lookalike trips."
Radio Shack Shares Drop Over 20 Percent Following Investment Agreement Controversy
Radio Shack stock shares have dropped more than 20 percent following allegations of breached covenants on a $250 million term loan from lender Salus Capital.
Taj Mahal Closure Plan Released By State Of New Jersey
Atlantic City's Taj Mahal casino, which has been rumored for closure since October, has officially been put to an end.
Graco Faces Government Investigation Over Child Car Seats
Philadelphia-based baby products company Graco is under investigation by the United States National Highway Traffic Safety Administration (NHTSA) over the the quality of its child car seats.
Large-Size Apple iPad Specs And Features Leaked
Japanese magazine Mac Fan has leaked specs and information about the large-size Apple iPad that is scheduled for an upcoming release.
Black Friday Protests Organized By Walmart Employee Rights Group
Employee rights group OUR Walmart has organized its third-annual labor strike scheduled for Black Friday in an effort to bring attention to workers issues around the country.
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