Elon Musk Blames Firefighters for Making Tesla Sedan’s Fire Worse
Talk about passing the buck
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Twitter Releases IPO Filing
Twitter will raise $1 billion
Apple Beats Google, Coke as Best Brand
Google also tops the soft drink classic in brand value
Report: Twitter Plans To Make IPO Filing Public This Week
Source tells site Quartz date could change because of possible disturbance like government shutdown
BlackBerry Agrees to Go Private in $4.7 Billion Deal
BlackBerry, the once dominant smartphone maker, announced Monday that it will be sold to its largest shareholder, Canadian firm Fairfax Financial, in a deal worth about $4.7 billion.
Shareholders will receive $9 per share, according to the public statement, a slight premium on the stock’s $8.23 price when trading was halted Monday …
Blackberry to Layoff 4,500 Amid Massive Losses
Blackberry announced Friday afternoon that it will cut 4,500 jobs in the face of nearly $1 billion in expected losses, the latest indicator of the smartphone company’s decline amid competition from market leaders like Samsung and Apple.
The company stock plunged more than 20 percent in intraday trading before ticking up.
In a …
Olive Garden and Red Lobster Suffer Declining Sales
The casual dining chains Olive Garden and Red Lobster saw sales drop despite upticks in the economy, an indication that consumers are still wary of spending their money.
The casual dining industry as a whole faced its lowest quarterly sales in more than three years, Brad Richmond, the chief financial officer of Darden Restaurants, …
Fed Could Slow Stimulus at October Meeting, Official Says
A top official in the Federal Reserve said the Fed could still choose to slow stimulus policies at a meeting in October, despite an announcement Tuesday that the bond purchase program would continue.
Jobless Claims Up Slightly, But Backlog May Be Hiding Improvements
The number of Americans applying for initial jobless benefits increased less than expected last week, offering an encouraging if still muddled sign that gradual growth in employment is continuing, Bloomberg News reports.
The slight uptick in claims was likely made worse by a backlog of applications in California and Nevada, which both …
White House Official: Yellen Is New Front-Runner for Fed Job
A White House official said Janet Yellen, the Federal Reserve vice chair, is the top contender to replace the chairman in February, Reuters reports
The White House is looking to limit the widespread speculation that existed before the previous White House favorite, former economic adviser Larry Summers, withdrew his name from …
Blackberry Plans More Layoffs as Losses Mount
Blackberry, the once dominant smartphone maker, will cut up to 40% of its workforce by the end of the year, the Wall Street Journal reports.
The company employed 12,700 people as of March, already down from 17,000 employees two years ago, back when its iconic phones represented 14% of the smartphone market. Blackberry now has less …
Walgreens Replaces Company Health Care with Payouts
Walgreens is the latest major employer to rewrite its health care program in a drive to limit rising costs by taking advantage of new federal regulations, the Wall Street Journal reports.
The largest drug retail chain in the United States said Wednesday that it will provide payments to roughly 160,000 employees to shop for their own …