The world’s largest online retailer Amazon has reported a sharp fall in quarterly profits as the firm spent lavishly on extending its products and services globally.
Wells Fargo didn’t just steal millions from its customers with crooked overdraft fees, didn’t just create 2,000,000 fraudulent accounts and threaten to blackball employees who tried to stop the frauds; didn’t just defraud broke mortgage borrowers by the bushel-load — they also defrauded 800,000 customers with car loans, forcing 274,000 of them into deliquency and “wrongfully repossessing” (that is, stealing) 25,000 of their cars.
Thousands of borrowers who are behind on at least $5 billion in private loans may see that debt disappear, according to the New York Times.
U.S. economic growth rebounded to a 2.6 percent annual growth rate in the second quarter, the Department of Commerce reported Friday in its report on gross domestic product.
Harley-Davidson, the iconic American motorcycle company, will soon lay-off more than 180 in the manufacturing unit.
The push toward a cashless society is becoming more of a shove. Before today I had never heard of “The Visa Cashless Challenge”, but after reading about it I have to say that I am quite alarmed. Visa is trying to “encourage” businesses to go cashless, and one of the ways that they will be doing this is by “awarding up to $500,000 to 50 eligible US-based small business food service owners who commit to joining the 100% cashless quest”. The food industry is still one of the last bastions where cash is used very heavily, and so it makes sense that Visa would want to target that segment. Of course the more people that use cards to pay for meals, the more money that Visa will make.
Pizza Hut, a subsidiary of Yum! Brands (YUM), will hire about 14,000 new delivery drivers by the end of 2017, the Plano, Texas-based company said Tuesday.
A New York meat processor is recalling more than 7 million pounds of hot dogs and sausages mostly under the Sabrett brand name after consumers complained about finding small pieces of bone in some of the products, the U.S. Department of Agriculture said on Saturday.
That’s what researchers from Princeton University, the University of Chicago and the University of Rochester seem to be saying in a recent white paper. These scholars observe that between the years 2000 and 2015, young men (defined throughout the research as ages 21 to 30) have been working less. And they’re filling the majority of their extra free time looking at a screen, playing video games.
The Department of Energy announced last week that American taxpayers are providing millions of dollars to develop solar power projects across the country, including funding for seven companies in California and $2 million to a solar business in Texas, home of Energy Secretary and former Texas Gov. Rick Perry.
Nevada’s fast-developing experiment with legal sales of recreational marijuana was an instant hit, and the July 4th weekend gave the Silver State a taste of the green rush.
Wells Fargo & Co. has lost “tens of millions of dollars” in revenue from municipal and state clients since a sales scandal in its consumer bank erupted 10 months ago, Chief Financial Officer John Shrewsberry said.
While the retail sector as a whole is struggling to keep its head above water — with U.S. sales falling for a second consecutive month Opens a New Window. in June — e-commerce behemoth Amazon (AMZN) announced Wednesday Prime Day sales surged 60% over last year’s already record breaking totals — surpassing its sales on both Black Friday and Cyber Monday.
Duke Energy, one of the country’s largest coal utilities, announced Friday that it will build three large solar power plants in the coal mining state of Kentucky to complement its coal and natural gas power plants.
Prior to June, the record for federal spending in a single month was held by March 2017, when the Treasury spent approximately $392,816,000,000.
Amazon.com Inc.’s third annual Prime Day event turned out to be the biggest day ever for the e-commerce giant, with sales surpassing traditional retailing blowouts like Black Friday and Cyber Monday.
The stock market is luvin’ McDonalds stock, which has continued its recent relentless rise to all time highs, up 26% YTD, oblivious to the carnage among the broader restaurant and fast-food sector. There is a reason for Wall Street’s euphoria: the same one we discussed in January in “Dear Bernie, Meet the “Big Mac ATM” That Will Replace All Of Your $15 Per Hour Fast Food Workers.”
As competition heats up in the sports apparel industry, Nike Inc. (NKE) may be preparing to sell their products directly to consumers through ecommerce giant Amazon (AMZN), according to a Goldman Sachs research note released Wednesday.
You may not see it yet, but the scale of the retail apocalypse is so massive that it is about to engulf the US economy. As when a flood tide has crept around you on all sides while you were standing on a high spot out on the flats, not paying attention, you can look up now and see it all around you, and it is coming in rapidly. You can now feel the current under your toes.
The bill, titled House Concurrent Resolution 89, was brought by Hawaii State Representative Chris Lee and was passed by both houses of the state legislature in a unanimous vote.