Archive for the ‘BUSINESS’ Category

China Congress Rules: Airbnb, Ironman and Profile-Picture Updates Must Wait

Wednesday, October 18th, 2017

China’s primary social-media platforms—WeChat, QQ and Weibo—all announced system maintenance or upgrades on the eve of the 19th Communist Party congress.

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U.S. Housing Starts Fell in September

Wednesday, October 18th, 2017

U.S. housing starts decreased last month for the fifth time in six months, a sign home builders are struggling to keep pace with solid buyer demand.

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U.S. Treasury Declines to Label China a Currency Manipulator

Wednesday, October 18th, 2017

The U.S. Treasury again declined to label China a currency manipulator, though it continued to criticize China for its large trade surplus and restrictions on foreign investors.

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Why Streetwear Brand Supreme Is Worth $1 Billion and Abercrombie Isn’t

Wednesday, October 18th, 2017

Skateboard apparel retailer uses scarcity to fuel demand among young shoppers but a new private equity investment raises the question of whether the company can maintain its mystique.

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Anthem to Launch Its Own Pharmacy-Benefit Manager

Wednesday, October 18th, 2017

Anthem plans to launch its own pharmacy-benefit manager, serviced by CVS Health, in 2020 after the conclusion of its contract with Express Scripts.

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Canada’s Factory Sector Rebounds in August

Wednesday, October 18th, 2017

Canadian manufacturing sales rebounded in August with a sharp gain, defying market expectations for a third-straight monthly decline, on strong auto demand and higher energy prices.

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Rio Tinto Faces Reckoning Over Africa Bets

Wednesday, October 18th, 2017

A U.S. lawsuit alleging Rio Tinto misled investors about the value of its assets in Mozambique is the second serious regulatory problem in less than a year to rock the mining giant over its forays in Africa.

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Mitsubishi Maps Out Road to Recovery After Fuel-Economy Scandal

Wednesday, October 18th, 2017

Mitsubishi Motors will plow billions of dollars into its business as it seeks to update factories, reinvigorate a stagnant product lineup and return to growth after a fuel-economy scandal.

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Nike Jersey Worn by LeBron James Rips in NBA Debut

Wednesday, October 18th, 2017

Nike’s new basketball jersey ripped while being worn by star LeBron James during the sportswear company’s debut as the official outfitter of the National Basketball Association.

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SEC Sues Rio Tinto Over Claims It Misled Investors

Wednesday, October 18th, 2017

U.S. regulators sued Rio Tinto and two former top executives over claims they misled investors about the value of Mozambique coal assets obtained in an acquisition that caused massive losses for the company.

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Reckitt Launches Revamp Amid Slowdown

Wednesday, October 18th, 2017

Reckitt Benckiser said it would restructure its operations into two separate divisions after a string of disappointing earnings, raising questions as to whether the company could be broken up or pursue another big deal.

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Health Insurers Step Up Open Enrollment Push

Wednesday, October 18th, 2017

With enrollment for Affordable Care Act health-insurance plans starting in just two weeks, insurers are bracing for a drop-off among consumers put off by higher rates, confusion about the law’s standing and a shorter window to choose coverage.

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The Other Brother: Bob Weinstein Was an Abusive Boss

Tuesday, October 17th, 2017

Bob Weinstein hasn’t been accused of the kind of sexual misconduct that led to the ouster of his brother from the production company they jointly ran. Instead, according to multiple former employees and business associates, he was a volatile and bullying executive.

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Roy Price Resigns as Head of Amazon Studios

Tuesday, October 17th, 2017

Roy Price is out as head of Amazon Studios, days after details of a two-year-old accusation of sexual harassment became public.

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GM Plans to Make Systems for Autonomous Cars

Tuesday, October 17th, 2017

GM plans to make the bulk of the systems that go into an autonomous car, a shift from its previous strategy that thrusts it into direct competition with tech giants.

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Ackman Cranks Up Pressure on ADP

Tuesday, October 17th, 2017

Activist investor William Ackman turned up the pressure on Automatic Data Processing Inc., saying the company has “missed the market” by focusing more on meeting revenue guidance than developing new technology.

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IBM Revenue Drops Again

Tuesday, October 17th, 2017

IBM said revenue and profit fell in the quarter, the 22nd straight quarterly decline in sales, but revenue in its hardware and artificial-intelligence units exceeded expectations.

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When Doing Good Ends Badly for CEOs

Tuesday, October 17th, 2017

A new study shows that socially responsible initiatives can be a double-edged sword for CEOs, helping to shield them from being ousted during more prosperous times but increasing the likelihood they would be fired in bad times.

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SoftBank Creates Venture to Buy 8,000 Cellular Sites Across U.S.

Tuesday, October 17th, 2017

Japanese telecom giant SoftBank Group plans to form a joint venture with Australia’s Lendlease Group to buy about 8,000 cellular sites across the U.S., challenging tower operators that dominate the industry.

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Wal-Mart Sees ‘Second-Mover Advantage’ in E-Commerce

Tuesday, October 17th, 2017

Wal-Mart’s U.S. e-commerce chief Marc Lore said the online retail division is still in growth mode, the fruits of which will start paying off over the next two years and help it better compete with Amazon.

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CSX Chief Vows to Win Back Lost Business After Service Woes

Tuesday, October 17th, 2017

CSX Corp. Chief Executive Hunter Harrison said the railway expects to win back any market share lost during this summer and sought to reassure investors that service problems were resolved.

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USDA Drops Tighter Rules on Meatpackers

Tuesday, October 17th, 2017

The U.S. Department of Agriculture has dropped efforts to tighten regulations governing how meat companies’ deal with the farmers who raise the nation’s poultry and livestock.

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Amazon, Apartment Landlords Strike Deals on Deliveries

Tuesday, October 17th, 2017

Amazon is taking over the package rooms of some of the country’s largest apartment landlords, in a move that could help consolidate its control over how goods make it from the warehouse floor to the front door.

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Movie Studios Will Embrace Bite-Sized Entertainment: Katzenberg

Tuesday, October 17th, 2017

Jeffrey Katzenberg has signed major Hollywood studios onto his latest venture: a mobile-based subscription service of short-form content that the longtime show-business executive is calling “new TV.”

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Harley-Davidson Profit Falls As Slide in Motorcycle Sales Continues

Tuesday, October 17th, 2017

Harley-Davidson on Tuesday reported a 40% drop in quarterly profit as global sales of its motorcycles continued to slide.

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These Companies Will Pay You to Learn Your Job

Tuesday, October 17th, 2017

A handful of companies are using so-called last-mile programs to train new hires for as long as a year before taking them on as full-time members of the team.

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Volvo Unveils a Direct Challenge to Tesla

Tuesday, October 17th, 2017

In a direct challenge to Tesla, Volvo Cars unveiled its first high-performance electric-car model in Shanghai on Tuesday, doubling down on its commitment to make only electric or hybrid vehicles starting in 2019.

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Impax Laboratories and Amneal Pharmaceuticals Agree to Merge

Tuesday, October 17th, 2017

Impax Laboratories Inc. and Amneal Pharmaceuticals LLC have agreed to a merger that would create the nation’s fifth-largest generic-drug company by revenue.

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UnitedHealth Revenue Grows Despite ACA Exit

Tuesday, October 17th, 2017

UnitedHealth’s shares gained after it said core insurance and health-services businesses grew in its latest quarter, despite a dent in revenue caused by the company’s decision to pull out of most Affordable Care Act markets.

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Airbus Secures Canadian Wingman in Dogfight With Boeing

Tuesday, October 17th, 2017

Airbus and Boeing typically slug it out at air shows and on factory floors, but the rivalry took a different turn with the European group’s deal to take a majority stake in Bombardier’s CSeries jet project.

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