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
Google forms a conglomerate with Alphabet as the umbrella company
Google will be replaced by Alphabet Inc. as its new corporate name. CEO Larry Page and President Sergey Brin will still head the corporation. Sundar Pichai was promoted as the new Google CEO which will focus on its internet services.
Fed's Fischer says US inflation rate temporarily low while labor market is on a rebound
Vice Chairman assures that the low inflation rate experienced by the US is only temporary and will soon normalize and prices of oil and raw materials stabilize.
Fed rate hike seen with steady July jobs growth
Economists see an interest rate hike, possibly next month, as the US records a steady jobs growth in July. But while new jobs are being created, wages have almost stayed the same.
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Zynga finds refuge from slots with 30 percent revenue growth
Slot games narrowed the $62.5 million losses of Zynga by almost half with its 30% growth in revenue. Its shareholder lawsuit is also settled out of court for $23 million.
Aug 10, 2015 10:57 PM EDT
Food prices at its lowest in 6 years: Here are the reasons why
Food prices dropped due to abundant supplies of dairy products, soybean, and palm oil, the UN Food and Agriculture Organization reports.
Aug 10, 2015 10:32 PM EDT
Abercrombie & Fitch ends 'on-call' shift in all of its outlets in the U.S. starting September
In response to the letter sent by New York Attorney General Eric Schneiderman regarding the unlawful on-call shift of its employees, Abercrombie & Fitch announced it would end its on-call scheduling in September.
Aug 10, 2015 3:53 AM EDT
Tesco sells 6 billion pounds worth of assets to build turnaround fund
Tesco hopes to end its 'junk' status by filling its 5.74 billion pounds losses this year with a 6 billion pounds sell-off. Investors remain positive with UK's retail giant as shares go up.
Aug 10, 2015 3:49 AM EDT
Zara's parent Inditex gains 36%, founder Amancio Ortega becomes the second wealthiest man in the world
Zara lead Inditex in joining the 100 billion club and has become Spain's most valuable company. Its founder Amancio Ortega becomes the second wealthiest man in the world.
Aug 10, 2015 1:48 AM EDT
Super Bowl ads reach record-breaking high at $5M for 30-second spots
The price of airing a Super Bowl ad is increasing year by year with today's 30-second exposure amounting to $5 million.
Aug 10, 2015 12:01 AM EDT
Returns on US Public Pensions drop to worst since 2012
The bleak performance in the global stock markets had impacted the returns on US pension funds and bonds.
Aug 09, 2015 11:45 PM EDT
Informatica closes deal to go private; Microsoft and Salesforce are strategic investors
A few months after announcing its plans to go private, Informatica closes the deal at $5.3 billion. Informatica, the enterprise software provider based in Redwood City and announced in April that it will be bought for $5.
Aug 09, 2015 11:17 PM EDT
McDonald's pulls off another trick: Table service in U.S. and U.K. outlets
McDonald's is trying out a table service this time. The trial is ongoing on 50 locations in the U.S. and one of its restaurants in England.
Aug 09, 2015 11:05 PM EDT
Media stocks tumble as more customers ditch cable
US stocks, led by shares of media companies, tumbled on Thursday, as earnings reports indicate more and more cable subscribers are shifting into video streaming for viewing. As people move away from traditional TV, Netflix shares soar.
Aug 09, 2015 10:19 PM EDT
'Blackfish' caused SeaWorld profit to dive by 84%
Blackfish documentary made a large impact on SeaWorld's second quarter performance leaving it with a plunge of 84%. Although there are other factors that caused the decline, the documentary is the main reason giving people the wrong impression about the captive whale. Despite all the challenges, CEO Joel Manby is still positive the company will overcome it and get back to business as usual.
Aug 07, 2015 12:08 PM EDT
New Yorkers give thumbs up to $15 per hour wage increase
Wage increase means commodity price increase. New Yorkers agreed and willing to pay more to help fast food workers elevate their standard of living. Other U.S cities will follow the phase in the next couple of years.
Aug 07, 2015 11:47 AM EDT
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