Sprint Nextel Corporation (NYSE: S) announced today that it would be purchasing the remaining stake of Clearwire Corporation (NASDAQ:CLWR). The deal comes after Sprint entered a partnership with SoftBank, giving Sprint access to more capital. As for the remaining stake in Clearwire, … [Read more...]
Facebook’s Unlikely Turnaround
Leading up to Facebook’s (FB) IPO, everyone was looking for a way to get their hands on shares of (NASDAQ: FB). Unfortunately, the IPO failed to impress investors and ultimately there were too many shares offered, dragging down the price. In the ensuing months, Facebook continued to … [Read more...]
OPEC Leaves Oil Production Quota at 30 Million Barrels Per Day
As expected, OPEC ministers agreed at a Nov. 12 meeting to keep their daily crude production target at 30 million barrels a day. The 12-nation organization hopes to keep crude prices up, in spite of increased US oil production and a weakened global economy, which OPEC calls the … [Read more...]
Fiscal Cliff Fears Intensify as Deadline Gets Closer
As the year-end approaches, angst over the impending fiscal cliff only gets worse. There seems to be little real compromise coming out of Washington to get this behind us. The political posturing continues as Americans watch and hope a resolution will be found before the clock runs … [Read more...]
Rise of the Russian Smartphone Yota
Reports out of Russia are indicating that the country now has a smartphone company with the hopes that it will compete on the world scene. Yota Devices was once a part of Russian state-operated defense corporation but now the company is betting big on a dual screened device. On one … [Read more...]
Yahoo Executive Blake Irving Jumps Ship to Take the Helm at Godaddy
Former Yahoo! Inc. (NASDAQ:YHOO) chief product officer Blake Irving will take the helm at Go Daddy effective Jan. 7. The private web-hosting company has often been better known for its controversies—former CEO Bob Parsons videotaped himself killing an elephant and the company … [Read more...]
Virgin Atlantic Airways Sells 49% to Delta Air Lines to Boost Trans-Atlantic Reach
Delta Airlines (NYSE:DAL) is buying a 49% interest in Virgin Atlantic Airways for $360 million in a deal that will strengthen Delta's New York to London schedules, as well as bolster its presence in Europe. Eccentric billionaire Richard Branson will still own a 51% controlling … [Read more...]
HSBC Found Guilty of Money Laundering for Mexican Drug Cartels
The British bank, HSBC Holdings plc (ADR) (NYSE:HBC), said that it would be pay a record $1.9 billion to settle claims of the bank’s money laundering activities. The US government says that HSBC’s US unit accepted billions of dollars from the Mexican drug cartels, Iran, and other … [Read more...]
U.S. Officials Slap Standard Chartered with $327 Million Penalty
Standard Chartered (STAN:LN) will pay $327 million to settle federal and New York charges it laundered money on behalf of four sanctioned nations between 2001 and 2007. The US Treasury’s Office of Foreign Assets Control announced Dec. 10 will conclude a years-long investigation into … [Read more...]
Ingersoll Rand Spins Off Security Division as Part of Strategic Restructuring
Ingersoll-Rand (NYSE:IR) announced it will be separating its security business from the rest of its operations in a strategic move to enhance shareholder value. The move includes combining its commercial and residential security businesses, a 31% hike in the company's quarterly … [Read more...]
Amazon $50 Discount on Kindle Fire and Barnes & Noble Slashes Nook Simple Touch Price
Amazon and Barnes & Noble both just announced they are cutting prices on their E-reader tablets in an effort to boost sales. Although Amazon's Kindle sales were outdone by Nook sales on Black Friday, Amazon is still selling Kindles at a rapid pace. With eBooks selling faster than … [Read more...]
McDonald’s Makes a Comeback with Impressive November Sales
McDonald’s Corporation (NYSE: MDO) announced Dec. 10 its global sales in restaurants opened at least 13 months rose 2.4 percent in November. The same figure in the U.S., however, increased by 2.5 percent, compared to just 1.4 percent in Europe. … [Read more...]
Starbucks Will ‘Voluntarily’ Pay More UK Tax in Spite of Legal Loopholes
After UK Lawmakers accused it of immorally avoiding tax Dec. 3, Starbucks (SBUX) announced Dec. 6 it would voluntarily pay 20-million pounds in UK corporation tax over the next two years. “Having listened to customers and to the British public, Starbucks in the UK will be making … [Read more...]
Groupon Rumored to be Google’s Latest Acquisition Target
Groupon's (NASDAQ: GRPN) stock price shot up over 20% Friday amid rumors that Google might be courting the company as an acquisition candidate. Forbes discounted the rumor as a stupid rumor of the week, calling it, "A rumor so silly that no right-minded person would think it … [Read more...]
Starbucks (SBUX) Steel Cards Selling for Insane Prices
On Friday, Starbucks released 5,000 limited edition cards made of steel on the luxury goods site, Gilt.com. In the end, the card costs $450 with $400 of the balance able to be used for credit towards Starbucks (NASDAQ: SBUX) purchases. Shockingly enough, the site sold out of the … [Read more...]
Google Will Start Charging Small Businesses to use “Google Apps”
Google (GOOG) announced today that it will begin charging new small and medium sized businesses (SMB) to use its cloud-based Google Apps for business software. Existing small business customers will be grandfathered in and will still have free access, as will individuals, but new … [Read more...]
Stocks that Made Headlines on Friday: GRPN, AVP, SWHC, AAPL & NFLX
During Friday’s trading session, we saw several new developments. Apple (NASDAQ: AAPL) was down over 2.6% on fears that a Judge could cut into Apple’s $1 billion award from Samsung. Additionally, shares traded near the dreaded “death cross” which occurs when a stock’s 50 day moving … [Read more...]
Tim Cook Brings Apple (AAPL) Manufactuing to US & Stock Falls
In his first-ever interview as Apple (AAPL) CEO, Tim Cook told NBC’s Bryan Williams Dec. 6 the company plans to bring manufacturing of one of its existing Mac lines back to the United States next year. Apple has manufactured its products in China since 1994. … [Read more...]
Netflix (NFLX) CEO Reed Hastings Under Fire for Facebook Post – Stock Drops
Netflix CEO Reed Hastings has certainly not been the most popular Silicon Valley CEO in recent years, after changing prices and the structure of Netflix, which turned out to be a flop. This time, Hastings is once again in the news due to a Facebook post, which was flagged by … [Read more...]
Cash America a Payday Loan Company Forced to Refund Over $13 Million to Customers
Cash America will be giving about 14,000 of its customers in Ohio refunds totaling an estimated $13.4 million after customers sued them, but now admits it made significant mistakes in its own legal documents. Cash America is the largest operator of pawn shops in the United States and … [Read more...]
