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Sears Announces More Store Closures
Sears (NASDAQ:SHLD) is reportedly exercising its right to terminate the leases on 19 unprofitable stores. The closures were announced in an SEC filing by Seritage Growth Properties, the real estate investment trust spun off from the... More of this article »
Walmart Slapped With Trademark Infringement Suit By Run-DMC
Walmart (NYSE:WMT) has been hit with a multi-million lawsuit by rap group Run-DMC for selling products that traded on the group’s name and logo without permission. Darryl “DMC” McDaniels, a founder of the group and... More of this article »
Kate Spade & Co. Planning For Sale
Handbag maker Kate Spade & Co. (NYSE:KATE) is planning to explore a formal sale of the company. The retailer is reportedly working with financial advisers on sale preparations, according to a person familiar with the situation.... More of this article »
Delta And Alaska Airlines Ending Partnership
Delta Air Lines (NYSE:DAL) and Alaska Airlines (NYSE:ALK) have confirmed that they will officially terminate their frequent-flier and codeshare partnerships at the end of April. In nearly simultaneous announcements, the two airlines... More of this article »
Want McDonald’s Delivered? Soon, You Can In Florida
McDonald’s Corp. (NYSE:MCD) has announced that it is partnering with UberEATS to provide delivery services for nearly 200 of its restaurants in Florida. Customers in Miami, Orlando, and Tampa will be able to have McDonald’s delivered... More of this article »
American Airlines Fined $1.6M Over Tarmac Delays
The U.S. Transportation Department has fined American Airlines (NASDAQ:AAL) $1.6 million for violating a rule that prohibits long tarmac delays. American Airlines reportedly broke the DOT’s tarmac delay rule 27 times in 2013... More of this article »
Viacom Merger With CBS Now Unlikely
The anticipated merger of CBS Corp. (NYSE:CBS) and Viacom (NASDAQ:VIA) now looks like it’s not going to happen. National Amusements has withdrawn its proposal for the two companies to explore a merger. National Amusements controls... More of this article »
Abbott Laboratories Wants Out Of Alere Merger
Health care giant Abbott Laboratories (NYSE:ABT) wants to get out of its deal to buy medical test developer Alere Inc. Abbott has filed a lawsuit to terminate the $5.8 billion agreement, saying Alere has lost significant value since... More of this article »
Trump Takes On Boeing Over Contract For New Air Force One
President-elect Donald Trump believes that the contract with Boeing (NYSE:BA) to build the new Air Force One should be canceled because it is too expensive. On Tuesday morning, Trump tweeted, “Boeing is building a brand new 747... More of this article »
Twitter Acquires Yes, Inc. For Talent
Twitter (NYSE:TWTR) has purchased seven-person mobile app startup Yes, Inc. in a bid to acquire the top talent at the company. Yes makes apps that allow users to connect immediately with friends, focusing on short-form interactions.... More of this article »
United Airlines Unveils New Business Class Offerings
United Airlines (NYSE:UAL) unveiled its much talked-about Polaris business-class program on Thursday. The airline calls its new Polaris service a “complete re-imagination of business class flying.” United Airlines operates... More of this article »
Boeing Loses Judgement On Tax Break
The World Trade Organization (WTO) has ruled that a tax break for Boeing (BA.N) from Washington state was a prohibited subsidy to the company. Washington state’s main business tax for aerospace was put into place in 2013, when... More of this article »
Black Friday Results Show Strength Of Online Shopping
A survey conducted by the National Retail Federation showed that online spending during the Black Friday weekend grew at the expense of store spending for a straight second year. There was a 4.2 percent rise in consumers who shopped... More of this article »
Upper Limit For Federally Backed Mortgages Set To Increase
The Federal Housing Finance Agency has announced that it will be raising the upper limit for conforming loans beginning in 2017. Starting next year, the limit on loans that qualify as conforming will rise to $424,100. The current limit... More of this article »
U.S. Durable-Goods Orders Rise To Highest Of 2016
In October, U.S. durable-goods orders rose at their fastest pace in a year, according to the Commerce Department. Demand for the long-lasting manufactured goods rose 4.8 percent from a month earlier to a seasonally adjusted $239.4... More of this article »
Taco Bell Announces U.S. Expansion Plans
Yum Brands Inc. (NYSE:YUM) subsidiary Taco Bell has announced an ambitious expansion plan for the United States over the next six years. Taco Bell plans to grow to a network of 9,000 U.S. locations and create 100,000 new jobs by 2022.... More of this article »
Herbalife Reports Earnings Decline And CEO Exit
Herbalife (NYSE:HLF) reported a 6.3 percent drop in third-quarter net income during its latest earnings announcement. Herbalife’s net income fell to $87.7 million, or $1.01 per share, in the third quarter, from $93.6 million, or... More of this article »
September Rise In Consumer Prices Highest Since 2014
The cost of living in the U.S. rose 0.3 percent in September from the previous month, according to the Consumer Price Index. The results matched the median forecast of economists. The CPI is the broadest of the price gauges from the... More of this article »
Verizon May Change Terms Of Yahoo Deal After Breach
Verizon Communications Inc. (NYSE:VZ) recently agreed to purchase Yahoo Inc. (NASDAQ:YHOO) for $4.8 billion, but new disclosures about a massive security breach may lead to changes in the terms of the deal. Many merger agreements have... More of this article »
PepsiCo Faces Lawsuit Over Naked Juice Claims
PepsiCo Inc. (NYSE:PEP) is facing a class action lawsuit from the Center for Science in the Public Interest (CSPI), a consumer advocacy group, over misleading marketing for Naked Juice products. The complaint was filed on Tuesday in... More of this article »
Pfizer To Remain Single Company
Pfizer Inc. (NYSE:PFE) announced that it would abandon its plans to divide into two companies and remain a single entity. The company had been considering a breakup for years. Pfizer said in April that it would make a decision on the... More of this article »
Mylan CEO Set To Testify Before Congress
CEO of Mylan Pharmacueticals (NASDAQ:MYL) Heather Bresch is expected to testify before Congress on Wednesday to defend the company’s controversial price increases. The price of the company’s EpiPens has increased more than... More of this article »
United Parcel Service To Hire 95,000 For Holiday Season
United Parcel Service (NYSE:UPS) has announced plans to hire roughly 95,000 workers for the holiday season this year. In a statement, Myron Gray, president of UPS’s U.S. Operations, said, “We’re ready to kick off our annual holiday... More of this article »
Target Expanding Workforce By 70,000 For Holidays
Target Corp. (NYSE:TGT) has announced plans to hire about 70,000 holiday employees this year. The amount is the same figure as each of the past four years for the retailer. All 1,800 Target stores will be hosting dedicated hiring events... More of this article »
Praxair No Longer Seeking Merger With Linde
Praxair (NYSE:PX) is no longer seeking to merge with industrial gases group Linde, according to an announcement made on Monday. The combination would have created the industrial gas industry’s largest player. Linde is the global... More of this article »
McDonald’s USA President To Retire At Years-end
McDonald’s (NYSE:MCD) USA President Michael Andres will retire at the end of the year. The announcement was unexpected. The U.S. is McDonald’s top profit market. Andres said in the company statement, “With the strides we have... More of this article »
Threats Result In Closure Of 6 USDA Offices
Six U.S. Department of Agriculture offices across the country were shuttered Tuesday due to anonymous threats against the facilities. The offices in Fort Collins, Colo.; Hamden, Conn.; Beltsville, Md.; Raleigh, N.C.; and Kearneysville... More of this article »
Viacom Spat Ends In Settlement
The fight over Sumner M. Redstone’s $40 billion Viacom (NASDAQ:VIA) media empire is reportedly over. According to people briefed on the matter, the two sides have completed a settlement agreement that ends the legal battles. On Thursday,... More of this article »