Business


Shanghai temporarily closes Marriott website in China after questionnaire gaffe Shanghai temporarily closes Marriott website in China after questionnaire gaffe
- January 11, 2018

Marriott's blunder instantly ignited a huge commotion among Chinese customers and news media, after its attempt to "split China" was first exposed by patriotic netizens this week. Marriott operates about 290 hotels and resorts in the greater China region, which includes locations in Hong Kong, Taiwan, Tibet and Macau. Marriott now has more than 100 properties in China. (more...)
Sam's Club stores abruptly close Sam's Club stores abruptly close
- January 11, 2018

Sam's Club has chose to close a series of clubs after a thorough review of its existing portfolio, the retail warehouse chain tweeted Thursday. According to Channel 2's sister station FOX13, a Memphis Sam's Club location has also closed its doors for good, announcing the closure to employees this morning. (more...)
Circuit City Set to Relaunch Online Next Month Circuit City Set to Relaunch Online Next Month
- January 11, 2018

Schmoel announced the business strategy at a press briefing at the Consumer Electronics Show in Las Vegas. Eventually, the revitalized company plans to open showroom-style stores as part of its brick-and-mortar retail strategy. "The IBM web commerce platform will allow Circuit City to expand offerings for a personalized shopping experience and enhance the product discovery journey", the company said. (more...)
Amtrak resolves power problem at Penn Station Amtrak resolves power problem at Penn Station
- January 11, 2018

NJ Transit riders in need of alternative routes can have their tickets cross honored on the agency's buses and in PATH's Newark Penn Station, Hoboken and 33rd St. But that doesn't mean all NJ Transit riders should expect problem-free commutes the rest of the morning. "I've been taking it for about six months now, I've had a few delays in the morning, but I leave extra early because of the delays", another commuter said. (more...)
Dropbox files confidentially for US IPO Dropbox files confidentially for US IPO
- January 11, 2018

The listing will test Dropbox's most recent valuation, $10 billion, which has been criticized by some investors as overvalued and outdated. Dropbox is in talks with other banks to fill additional roles on the IPO and is aiming to be listed in the first half of 2018, the Bloomberg report said. (more...)
Progress Software (PRGS) Issues Q1 Earnings Guidance Progress Software (PRGS) Issues Q1 Earnings Guidance
- January 11, 2018

The investor checklist may include studying the scope of a company's competitive industry advantage, examining company management, and trying to get a general feel if the stock is valued properly. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. ValuEngine downgraded Progress Software from a "buy" rating to a "hold" rating in a research report on Friday, December 1st. (more...)
Software maker SS&C to buy DST Systems in US$5.4 billion deal Software maker SS&C to buy DST Systems in US$5.4 billion deal
- January 11, 2018

Regions Financial Corp stated it has 0% of its portfolio in SS&C Technologies Holdings, Inc . The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 22.7%, and has a solid year to date (YTD) performance of 17.81% which means that the stock is constantly adding to its value from the previous fiscal year end price. (more...)
Walmart raises hourly wage to $11, expands benefits Walmart raises hourly wage to $11, expands benefits
- January 11, 2018

The changes are set to take place in February. The federal minimum wage is $7.25. The one-time bonus represents an additional payment to associates of approximately $ 400 million in the current fiscal year, which ends January 31, 2018. The current minimum wage at Walmart is $9 an hour, which was introduced in 2015. While Walmart claimed this announcement was linked to the tax cut, the wage hike was likely necessary for the company to remain competitive - and, in some states, legally compliant. (more...)
Ripple and MoneyGram Test XRP Currency Transfers Ripple and MoneyGram Test XRP Currency Transfers
- January 11, 2018

Worldwide money-remittance firm MoneyGram is partnering with Ripple to test the startup's XRP token for global payments. Ripple's XRP rose 13 percent to $13.38 on Thursday after MoneyGram made the announcement to use its XRP token for global payments. (more...)
Woman returns 'dead' Christmas tree to Costco in January for full refund Woman returns 'dead' Christmas tree to Costco in January for full refund
- January 11, 2018

A furious woman in California created a commotion at a popular wholesale outlet as she came to return her Christmas tree. The man claimed that Costco employees did confirm she bought the tree at their store and gave her the refund. Bentley said that the woman didn't mind that he had taken a photo of her, even as she asked him "are you serious?" He said she was "shamed to a small degree", but wrote, "I don't think it fazed her because she has no conscience". (more...)
Delta Air Lines Inc Earnings Advance 13% In Q4 Delta Air Lines Inc Earnings Advance 13% In Q4
- January 11, 2018

It has outperformed by 8.36% the S&P500. Delta Air Lines , Inc. shares rose $0.74 (+1.32%) in premarket trading Thursday following the report. Shellback Capital Lp bought 243,951 shares as the company's stock declined 5.91% while stock markets rallied. (more...)
Canada takes US to WTO in wide-ranging trade complaint Canada takes US to WTO in wide-ranging trade complaint
- January 11, 2018

Canadian Foreign Minister Chrystia Freeland said the legal action was in response to the "unfair and unwarranted" US duties against Canada's softwood lumber producers and part of a "broader litigation" to defend forestry jobs. "I think Trump will give the six-month notice required under NAFTA because he will see it as a negotiating tactic", Wiseman said. "This is effectively Canada bringing a dispute on behalf of all exporters in the world - the Europeans, Japan, China - because they're ... (more...)
Tesco's record festive trading hurt by Palmer & Harvey collapse Tesco's record festive trading hurt by Palmer & Harvey collapse
- January 11, 2018

Today, Tesco released its holiday sales and it showed a 1.9% increase, a huge miss compared to the 2.8% estimate. The German chain said sales rose 16% in December as it experienced its highest ever footfall. Over the Christmas period specifically, Tesco posted 1.9% LFL sales growth, however it noted that a positive performance in food sales during this period (+3.4%) was "offset by ongoing drag from general merchandise and lost tobacco sales due to Palmer & Harvey integration". (more...)
Jeff Bezos Of Amazon Becomes The Richest Man In History Jeff Bezos Of Amazon Becomes The Richest Man In History
- January 11, 2018

Bloomberg said Bezos' net worth reached 106 billion USA dollars while Forbes put it at 105 billion as of Wednesday. Both Bloomberg and Forbes have put Bezos on top of their billionaire lists. Bloomberg's assessment shows Gates has donated 700 million shares of Microsoft, worth $61.8 billion in today's money, and $2.9 billion in cash. This puts him ahead of Microsoft founder Bill Gates, who is now valued at $93.3 billion and Warren Buffett, CEO of Berkshire Hathaway, at $87.3 billion. (more...)
IPhone X drives a jump in retail sales IPhone X drives a jump in retail sales
- January 11, 2018

By category, sales were up for food retailing (0.2 percent), cafes, restaurants and takeaway food services (0.4 percent), department stores (0.4 percent), and clothing, footwear and personal accessory retailing (0.2. The pain for consumers has been visible in falling household savings, which have dropped to their lowest levels in a decade, as consumers try to offset flat income growth. (more...)
Judge denies CFPB official's injunction against Mulvaney Judge denies CFPB official's injunction against Mulvaney
- January 11, 2018

Senate. "The best reading of the two statutes is that Dodd-Frank requires that the Deputy Director "shall" serve as acting Director, but that under the FVRA the President "may" override that default rule", the court said. Kelly, of the U.S. District Court for the District of Columbia, said Ms. English's attorney, Deepak Gupta, promptly blasted Kelly's ruling and expressed concern over Mulvaney's intentions to drastically curtail the bureau's authority, noting his history of siding with big ... (more...)
Elizabeth Warren's bill would fine the next Equifax for data breach Elizabeth Warren's bill would fine the next Equifax for data breach
- January 11, 2018

Half of that money would be redistributed to the consumers caught up in the data breach. The bill from Elizabeth Warren of MA and Mark Warner of Virginia would add a $50 fine for each additional piece of compromised personally identifiable information for each consumer. (more...)
Ohio Man Accused of Spying on Thousands Via Malware Ohio Man Accused of Spying on Thousands Via Malware
- January 11, 2018

Once computers were infected, Durachinsky "used the malware to steal the personal data of victims, including their logon credentials, tax records, medical records, photographs, banking records, Internet searches, and potentially embarrassing communications", according to the attorney's office. (more...)
Noted scientist Sivan K to replace Kiran Kumar as ISRO chairman Noted scientist Sivan K to replace Kiran Kumar as ISRO chairman
- January 11, 2018

Kiran Kumar, whose three-year terms end on January 14. Sivan also designed a software called Sitara, which ISRO uses for simulating trajectories of its rockets. Sivan was the key person to work out the technicalities of sending 104 satellites into orbit in 2017, reported the news channel. He is being appointed at a time when ISRO plans to outsource building of satellites and launch vehicles to a consortium of Indian industries. (more...)
Ice cream bars recalled over contamination concern Ice cream bars recalled over contamination concern
- January 11, 2018

No illnesses have been reported to date, the company said. Fieldbrook Foods is working with each of these retailers to recall the affected products, the FDA said. All production on this line has been suspended while the company and the FDA investigate the issue. You can see the UPC codes of the products being recalled here. (more...)
Lockheed Martin (NYSE:LMT) Getting Somewhat Positive News Coverage, Study Shows
- January 11, 2018

About 865,854 shares traded. Chesapeake Energy Corporation (NYSE:CHK) has risen 49.74% since January 10, 2017 and is uptrending. It has outperformed by 15.81% the S&P500. The rating was maintained by Goldman Sachs on Wednesday, August 24 with "Neutral". The stock has "Sector Perform" rating by RBC Capital Markets on Thursday, January 12. (more...)
Former Employee Sues Google Claiming Discrimination Against White Men Former Employee Sues Google Claiming Discrimination Against White Men
- January 10, 2018

James Damore , the former Google engineer who was sacked for writing a controversial internal memo questioning the company's diversity policies has sued the company for allegedly discriminating against conservative white males. "For that, the company vilified him and his character and then fired him". The software engineer described Google's workplace environment as being an overly politically correct "ideological echo chamber" that favors groupthink and punishes those with different ... (more...)
Jack in the Box considers kiosks as minimum wage rates grow Jack in the Box considers kiosks as minimum wage rates grow
- January 10, 2018

However, Comma said that while his fast-food restaurant has tested products with technological advances at their establishments, he has made a decision to not go forward with the kiosks. Almost 20 states are boosting their minimum wages with California first in line to raise its minimum pay rate to $15. A test run also increased the average pay for the human workers that remained and still necessary, says Comma, according to BI. (more...)
Futures sink on report China may slow U.S. bond purchases
- January 10, 2018

Following the market's movement, bond veteran Gross, who is portfolio manager of the Janus Henderson Global Unconstrained Bond and Total Return strategies and a member of the global macro fixed income leadership team, took to Twitter on Tuesday to say "bond bear market confirmed". (more...)
Viral social media hoax closes Starbucks location, prompts police investigation Viral social media hoax closes Starbucks location, prompts police investigation
- January 10, 2018

If the screenshot is valid, it shows that the message was posted in a private Facebook group by a woman named Shanell Rivers who allegedly works at the Starbucks at 3520 Ashford Dunwoody Rd. Photos of the post began circulating on Twitter, with people calling the attacks "racist" and urging people to avoid all Atlanta Starbucks locations, as well as tagging the local police department in numerous tweets. (more...)
Several Sask. communities lose heat after natural gas outage
- January 10, 2018

A ruptured gas line left many people in the province without heat Wednesday morning. Crews began immediate repairs on the line and another line was identified that could supply gas to the affected areas. Prevent water pipes from freezing (keep taps open and let water run slowly if outage is expected to be of short duration; shut off water main and drain all taps and flush toilets if a long outage is expected). (more...)
Stocks Movement Analysis: Glu Mobile, Inc. (GLUU), HudBay Minerals, Inc. (HBM)
- January 10, 2018

Glu Mobile Inc. (GLUU ) has $520.73M valuation. (NasdaqGS: GLUU ). The firm now has a P/CF ratio of -15.577176. The shares were sold at an average price of $4.51, for a total value of $3,456,716.56. Also, the accuracy of the PEG ratio depends on the inputs used. The RSI oscillates on a scale from 0 to 100. A value between 70 and 100 is considered overbought; hence the trader should look at selling opportunities. (more...)
Scenes from the CES 2018 blackout
- January 10, 2018

A voice eventually got on a loudspeaker and announced that organizers were investigating the incident. A power outage left parts of CES in the dark. (more...)
Kodak announces it will issue its own cryptocurrency, stock rises in response Kodak announces it will issue its own cryptocurrency, stock rises in response
- January 10, 2018

Following the announcement of KodakOne and KodakCoin, the shares of Kodak jumped up by 60%, taking the price to $5.02. Kodak CEO commented that while many in the industry consider "cryptocurrencies" and " blockchain " to be buzzwords - for Kodak, they are solutions to an existing problem that a number of photographers are facing. (more...)
Ford F-150 now comes with diesel engine Ford F-150 now comes with diesel engine
- January 10, 2018

Over the decades, the Ford F-150 has had updates, design changes and the record for best-selling US vehicle for the last 41 years. The diesel F-150 will cost between $2,400 and $4,000 more than a comparable gasoline truck. 1 Customers can order a diesel F-150 starting this month. Nissan charged $5,550 for the Cummins diesel in the Titan. Dense and strong, CGI is common in diesels for its ability to handle high cylinder pressure with less weight than cast iron. (more...)

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