Kraft Heinz terminates 2,500 jobs in the U.S. and Canada to save costs
Kraft Heinz is cutting 2,500 jobs around the United States and Canada. Seven hundred of it will include its labor force in Northfield, Illinois.
Aug 13, 2015 4:14 AM EDT
US banks lead the equity trading revenues in Q2
Morgan Stanely, JPMorgan Chase and Goldman Sachs account for 40% market share in equities trading. Many US banks registered encouraging growth in trading revenues.
Continued oil price crash reached lowest level
U.S. crude oil price falls down to its level in more than six years. Over-supply of crude seen as one of the reasons for the oil's low price including the China's yuan devaluation. While most crude oil consumers enjoy the benefits of getting lower fuel, oil industries suffer from low profits forcing them to cut on expenditures and employment.
Starbucks and 28 other US companies to create jobs for disconnected youth
More than two dozen companies in the US join Starbucks in assuring Americans to create 100,000 jobs for the unemployed youth by 2018.
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General Electric to sell Healthcare Financial Services biz to Capital One for $9bn
GE has decided to sell its healthcare financial business unit to Capital One for $9bn. This is part of its business plan to offload $100-bn worth assets by 2015 end. GE to remain focused on its core business operations.
Aug 13, 2015 3:03 AM EDT
European banks lead other foreign banks' excess reserves at Fed, valued at $1 trillion
Foreign banks prefer to park their excess funds with the US Fed. The unprecedented rise of excess reserves at US Fed has become a cause of concern for the government.
Aug 13, 2015 2:54 AM EDT
China devalues Yuan, Sends Shockwave to Global Market, and Bringing stocks down
China devalued Yuan for the second time in a row, shocking the world market, bringing stocks, commodities, and currencies down.
Aug 13, 2015 2:47 AM EDT
Verizon develops technology making Internet 1,000 times faster
Good news for movie buffs. Verizon has successfully tested a new broadband technology allowing users to download a movie in a matter of seconds.
Aug 13, 2015 2:43 AM EDT
Analysts bet on Macy's, Alibaba, Cisco and News Corp; quarter earnings to be announced
Macy's, News Corp, Alibaba and Cisco are scheduled to report their quarterly revenue on Wednesday. Analysts are eyeing the movement of four companies in the stock market.
Aug 13, 2015 2:00 AM EDT
Judge Rules NYC Responsible Banking Act Unconstitutional as it Conflicts with Existing Federal and State Statutes
Responsible Banking Act that sought to be socially responsible to their low-income neighborhoods was deemed unconstitutional by the federal court.
Aug 12, 2015 11:03 PM EDT
Ford Motor Company moves production of F-650 and F-750 truck from Mexico to Ohio
Ford is moving its production of F-650 and F-750 commercial truck from Mexico to Ohio to save expenses.
Aug 12, 2015 10:54 PM EDT
Verizon dumps annual contracts; Here's how to save money with your phone bills
The nation’s largest wireless company is ditching its two-year service contracts, offering a new system that allows customers to buy phones upfront or pay for it through a two-year monthly program. This brings plenty of benefits, especially when it comes to saving more money for a phone.
Aug 12, 2015 10:50 PM EDT
Brands will surely get noticed at 2016 Olympics in 7 new ways
It is still a year before the 2016 Summer Olympic Game to be held in Rio de Janeiro, but different marketers of all sorts began the countdown. David Berkowitz, CMO of MYR said that his firm has released a report from Marketer's Road to the Olympics emphasizing the different marketing strategies to showcase brands.
Aug 12, 2015 10:47 PM EDT
Traders and hackers earned $100M on stocks from stealing news
Two hackers and a group of traders had earned $100M illegal profit on the stock market taking advantage of 80,000 cracked advance press releases from three online news websites for five years.
Aug 12, 2015 10:24 PM EDT
Warren Buffett buys aerospace supplier - his biggest acquisition ever
Warren Buffett makes his biggest acquisition ever, buying aerospace supplier Precision Castparts for $37.2 billion, including its debt. Buffett says the company's CEO Mark Donegan made quite an impression during their first meeting, prompting him to make an offer.
Aug 11, 2015 11:29 PM EDT
The New 10: Eleanor Roosevelt leads survey as the new face for $10 bill
Eleanor Roosevelt is leading the votes in the recent survey conducted by The Marist Poll on who among American women should be in the next $10 bill.
Aug 11, 2015 11:24 PM EDT
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