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Citigroup Fined $70 Million Over Shortcomings In Anti-Money Laundering Policies

Citigroup Fined $70 Million Over Shortcomings In Anti-Money Laundering Policies

The OCC – Office of the Comptroller of the Currency has fined Citigroup over failures by the bank to meet regulatory requirements with regards to anti-money laundering policies. Citigroup will now have to pay a civil penalty totaling... 
U.S. Adds 148,000 Jobs During December

U.S. Adds 148,000 Jobs During December

On Friday, the U.S. Department of Labor released the figures for the monthly jobs report showing that in December 148,000 new jobs were added in the country marking the 87th straight month of job growth in the U.S. The average for... 
Battle Brewing As Fast Food Giants Launch Low-Priced Menu Items

Battle Brewing As Fast Food Giants Launch Low-Priced Menu Items

The fast-food wars are heating up as the giants in the industry are launching new low cost menu items. On Thursday, McDonald’s will roll out its new Dollar Menu, while Taco Bell has countered that by announcing Wednesday it would... 
Hyundai and Kia Predict Slow Recovery for Sales During 2018

Hyundai and Kia Predict Slow Recovery for Sales During 2018

On Tuesday, Hyundai Motor and Kia Motors in South Korea predicted a sales growth of 4% for 2018, suggesting that the slump tied to the company’s lack of offering SUVS in the U.S. plus diplomatic problems with China would be slow... 
Merry Munchie Meals Tested by Fast-Food Chain

Merry Munchie Meals Tested by Fast-Food Chain

Knowing that marijuana smokers get hunger pangs, one chain of fast food restaurants is looking at taking advantage of California starting the legalization of marijuana recreational use. Jack in the Box, based in San Diego, is planning... 
Claire’s Recalls Makeup Products After Asbestos Found

Claire’s Recalls Makeup Products After Asbestos Found

Claire’s, a nationwide retailer, has pulled 17 of its makeup products from the shelves after one mom discovered the products contained asbestos. Kristi Warner purchased one of Claire’s makeup kits for her daughter, who is six,... 
Oil Drops as Forties Pipeline Nearing Restart

Oil Drops as Forties Pipeline Nearing Restart

Oil moved lower approaching $65 per barrel Tuesday, but stayed within sight of its highest point since the middle of 2015, as the restart looms of an important oil pipeline in the North Sea that offset support from supply cuts led... 
Boeing Tries to Sooth Concerns in Brazil Over Approach of Embraer

Boeing Tries to Sooth Concerns in Brazil Over Approach of Embraer

Boeing sought to calm the concern Brazil had about a possible merger with Embraer SA after the Brazilian President Michel Temer along with other officials warned they would veto a bid for a full takeover for the jet maker. Temer did... 
Didi Chuxing Raises $4 Billion to Compete Globally with Uber

Didi Chuxing Raises $4 Billion to Compete Globally with Uber

Didi Chuxing Technology the ride-hailing company based in China said on Thursday it raised more than $4 billion that were destined for overseas expansion and areas like artificial intelligence, as it ratchets up its competition with... 
Greenyard Targeting U.S. Market in Acquisition Talks with Dole

Greenyard Targeting U.S. Market in Acquisition Talks with Dole

Belgium-based Greenyard NV the fresh and frozen food giant said Tuesday it was holding advanced talks to buy Dole Food Company, the largest producer of fruits and vegetables in the world. Dole, based in California, is one of the world’s... 
Tesla Responsible for Much of Slide in Home Solar Sales

Tesla Responsible for Much of Slide in Home Solar Sales

Following years of growth in the double digits, installations of home solar units in the U.S. will fall this year for the first time, according to a new report released this week by GTM Research. An analysis of data related to installations... 
Target Buying Shipt to Speed Up Delivery Service

Target Buying Shipt to Speed Up Delivery Service

Target has agreed to buy tech startup Shipt as it bids to become better with its same-day delivery to maintain pace with its biggest rivals. The retailer, looking to compete better with Walmart and Amazon said Wednesday it agreed to... 
Audi Will Not Sell Ducati Motorcycle Brand

Audi Will Not Sell Ducati Motorcycle Brand

Germany’s Audi abandoned plans it set in motion to sell Ducati its Italian motorcycle brand, said its CEO Rupert Stadler. The change of mind shows the confidence the carmaker has that it will carry the cost for its transformation. Steps... 
Boston Herald Sold to GateHouse Media After Filing Bankruptcy

Boston Herald Sold to GateHouse Media After Filing Bankruptcy

The Boston Herald has more than $31 million of debt and other obligations primarily in severance and pension obligations to employees, said the company in one of its court filings on Friday that detailed why it filed for bankruptcy... 
Chip Engineers from the U.S. Charged in Scheme to Steal

Chip Engineers from the U.S. Charged in Scheme to Steal

Four engineers who formerly worked for Applied Materials Inc. have been charged by officials in the U.S. with attempting to steal multiple chip designs from the semiconductor equipment company to sell to a startup from China. This... 
Cineworld Acquiring Regal in Theater Deal Worth $3.6 Billion

Cineworld Acquiring Regal in Theater Deal Worth $3.6 Billion

The Cineworld Group based in the UK agreed to acquire Regal Entertainment Group a theater operator based in the United States for $3.6 billion to move into the world’s largest movie market. The deal for $23 per share comes one week... 
Macy’s Hiring 7,000 Additional Holiday Temps

Macy’s Hiring 7,000 Additional Holiday Temps

After hiring less for this year’s holiday shopping season due to anticipating weaker holiday sales, Macy’s announced Friday it would hire 7,000 more temporary holiday workers citing higher shopper traffic thus far during the beginning... 
Clients at Massage Envy Spas Claim Sexual Abuse

Clients at Massage Envy Spas Claim Sexual Abuse

Over 180 people in different locations around the United States filed police reports, lawsuits for sexual assault, and other complaints of sexual misconduct against the Massage Envy Spas national company and its employees, shows a... 
Coupon Change at J.C. Penney Confuses Customers

Coupon Change at J.C. Penney Confuses Customers

For the last few years, plenty of shoppers have made department store giant J.C. Penney their first stop when shopping on Black Friday. The struggling retailer would typically hand out coupons as one entered its stores that would save... 
Tether Says $30 Million in Token Stolen by Hacker

Tether Says $30 Million in Token Stolen by Hacker

Tether, the business behind a cryptocurrency pegged to the U.S. dollar that is used widely in the market’s exchange trade, has claimed that it was hacked and over $30 million in tokens were stolen. In a post that appeared on its... 
Verizon and NFL Close to Making Announcement on Digital Streaming

Verizon and NFL Close to Making Announcement on Digital Streaming

Verizon Communications is closing in on a new deal for digital streaming rights with the National Football League that will enable the largest wireless carrier in the U.S. to deliver broadcasts of games to internet-connected tablets,... 
Mark Cuban: Investment is Impacted Little by Tax Rate

Mark Cuban: Investment is Impacted Little by Tax Rate

Potential presidential candidate and billionaire entrepreneur Mark Cuban has said that a cut in the corporate tax rate in the U.S. would have little or no effect on his decisions to invest. Measures before both the U.S. House of Representatives... 
J.C. Penny Becomes Retail’s Bright Spot

J.C. Penny Becomes Retail’s Bright Spot

J.C. Penny delivered encouraging news this week as it posted a strong rise in its sales at comparable stores. That reversed four consecutive quarters of declines. The department store chain posted a loss that was smaller than expected... 
Panera Will Buy Au Bon Pain, CEO Resigning

Panera Will Buy Au Bon Pain, CEO Resigning

Panera Bread has agreed to buy Au Bon Pain, the café restaurant co-founded by Panera Ron Shaich, the current Panera CEO, over 35 years ago. Both Panera and Au Bon Pain are fast-casual restaurants popular for sandwiches, soups, salads... 
Toyota Overall Profit Boosted by Yen, Outlook in U.S. Not Good

Toyota Overall Profit Boosted by Yen, Outlook in U.S. Not Good

Toyota Motor Corp. has upgraded its forecast of operating profit for the full year by 8% as it believes the yen will weaken, but it gave a poor outlook for sales in North America, its largest market, where sales for the quarter fell... 
Amazon’s Jeff Bezos Sells Over $1 Billion in Stock

Amazon’s Jeff Bezos Sells Over $1 Billion in Stock

Amazon founder and CEO Jeff Bezos has been named the richest person in the world, but the vast majority of his extraordinary wealth, now estimated at more than $95 billion, is in Amazon.com stock. What that means is that occasionally... 
Pfizer Sales and Lower Charges Help Top Forecasts

Pfizer Sales and Lower Charges Help Top Forecasts

Pfizer has doubled its profit for the third quarter, thanks to a combination of higher sales, lower one-off charges, and less spending on administration and production. The U.S. based drug maker eased past profit expectations on Wall... 
Chevron and Exxon Results Tied to Price of Oil not Cuts in Costs

Chevron and Exxon Results Tied to Price of Oil not Cuts in Costs

The rising price of natural gas and oil boosted profits for the third quarter at Chevron Corp. and Exxon Mobil Corp. by nearly 50%, which underscores the reliance they have on the commodity. Even with deep spending cuts and refocusing... 
Walgreens Will Close 600 Rite Aid Locations in Megadeal

Walgreens Will Close 600 Rite Aid Locations in Megadeal

On Wednesday, Walgreens Boots Alliance (WBA) announced that it would shutter as many as 600 of the more than 1,932 Rite Aid stores it will purchase in a deal for $4.37 billion in cash that is scheduled to close during the spring of... 
General Motors Posts 32% Drop in Earnings for Third Quarter

General Motors Posts 32% Drop in Earnings for Third Quarter

On Tuesday, General Motors announced that it earned $2.5 billion prior to taxes during the third quarter, which was down over 32% from the same period one year ago of $3.7 billion, but higher than Wall Street expectations. Looking... 
Kansas City Southern See Strong Gains

Kansas City Southern See Strong Gains

Kansas City Southern posted profits that increased by 7.2% during the third quarter thanks to strength in energy, automotive, petrochemical and intermodal transportation, despite being hit financially by as much as $23 million in its... 
United Airlines Fare Weakness Continues Hurting Rebound

United Airlines Fare Weakness Continues Hurting Rebound

United Continental Holdings continues to suffer from a fare war during the summer. An important gauge in pricing power will drop again during the final quarter of 2017 with an expected drop of between 1% and 3%, said the airline late... 
Morgan Stanley Earnings Cruise Past Expectations

Morgan Stanley Earnings Cruise Past Expectations

On Tuesday, Morgan Stanley cruised past expectations on Wall Street for its results during the third quarter thanks to a strong performance from its dealmakers and wealth management unit. The bank posted earnings per share of 93 cents,... 
Wells Fargo Struggles as Profit Tumbles Following Scandal

Wells Fargo Struggles as Profit Tumbles Following Scandal

The fall of Wells Fargo is deepening due to its scandal that has been in the news for the past year. The bank posted profits that disappointed on Friday, bucking a trend that other big rivals had set earlier in the week. The Ohio government... 
Shares of JPMorgan Drop as Trade Revenue Plunges

Shares of JPMorgan Drop as Trade Revenue Plunges

JPMorgan Chase posted earnings for the third quarter far above estimates on Wall Street Thursday, but shares dropped as traders focused in on the bank’s big decline in revenue from trading. JPMorgan’s per share earnings ended the... 
Fees at ATMs Soaring

Fees at ATMs Soaring

Drawing out cash at an ATM is starting to seem like something from the past, with those who still do it paying a hefty price to do so. This year is the 11th straight year of increases in ATM fees by banks for customers using machines... 
Alibaba Grabs Control of Business Under U.S. Investigation

Alibaba Grabs Control of Business Under U.S. Investigation

Alibaba Group Holding will acquire control of Cainiao a delivery business that is unprofitable for 5.3 billion yuan or $800 million. It will spend billions more to expand its shipping network across the largest online market. The largest... 
Amazon Makes Big Move Into Restaurant Delivery Industry

Amazon Makes Big Move Into Restaurant Delivery Industry

Amazon’s announcement in June that it was purchasing Whole Foods Market at $13.7 billion was just the beginning of its push to dominate the food industry. Reports in July showed that Amazon was rolling out its own cook-at-home meal... 
Toys ‘R’ Us Has Filed for Bankruptcy Protection

Toys ‘R’ Us Has Filed for Bankruptcy Protection

Toys ‘R’ Us the toy store chain has filed for bankruptcy protection. The chain filed on Monday night following a long struggle to pay down debt in the billions of dollars and stay relevant during the current era of shopping online. The... 
Marriot Heavily Criticized for Stranding Irma Refugees

Marriot Heavily Criticized for Stranding Irma Refugees

Marriott has come under heavy criticism for leaving over two dozen people stranded on St. Thomas one of the hurricane ravaged Caribbean islands even though a ferry it had chartered contained sufficient space to fit hundreds of other... 
BP Files Papers for IPO of Gulf Coast and Midwest Pipeline

BP Files Papers for IPO of Gulf Coast and Midwest Pipeline

BP the British energy company announced on Monday that it had filed an initial public offering for its United States Gulf Coast and Midwest pipeline assets. The master limited partnership BP Midstream Partners formed by the U.S. pipeline... 
Exxon Mobil’s Galveston 209 Platform And Hadrian South System Back Online

Exxon Mobil’s Galveston 209 Platform And Hadrian South System Back Online

Exxon Mobil has announced that its Galveston 209 platform located in the Gulf of Mexico as well as the subsea production system located in the Hadrian South were back online. This was after they were shut down as a result of storm... 
Three New Versions Of The iPhone Set To Be Launched

Three New Versions Of The iPhone Set To Be Launched

Reports indicate that Apple will release three new versions of the iPhone during its upcoming launch event that is slated for September 12. The three versions will include the flagship phone and two iPhone 8s – the iPhone 8 Plus... 
Google Seeking To Hire AI Engineers In China

Google Seeking To Hire AI Engineers In China

Though the Google online search engine is banned in China, the parent company of the tech giant has embarked on a hiring spree in China, the largest internet market in the world and the second-biggest economy on the planet. The search... 
Robots can fake reviews just like human

Robots can fake reviews just like human

Researchers at University of Chicago have developed a robot that is capable of writing fake reviews like humans. The robot is powered by “neural network, or artificial intelligence system” that enables it to write fake... 
SpaceX launches Taiwan’s FORMOSAT-5 satellite

SpaceX launches Taiwan’s FORMOSAT-5 satellite

SpaceX has helped Taiwan get their first home-built satellite into space atop a Falcon 9 rocket. The satellite FORMOSAT-5 is the first satellite designed and built entirely in Taiwan. The satellite will help the country boost disaster...