Huawei: Smartphone Sales Down 40% as US-China Trade War Intensifies

Reports on Tuesday had it that the founder and chief executive of Huawei, Mr. Ren Zhengfei stated at a panel discussion at the company’s headquarter in Shenzhen saying “In the coming two years, the company will cut production by 30 billion dollars.” This statement was made after the company recorded a 40 percent drop in […]
  • June 18, 2019

Huawei: Smartphone Sales Down 40% as US-China Trade War Intensifies

Reports on Tuesday had it that the founder and chief executive of Huawei, Mr. Ren Zhengfei stated at a panel discussion at the company’s headquarter in Shenzhen saying “In the coming two years, the company will cut production by 30 billion dollars.” This statement was made after the company recorded a 40 percent drop in […]
  • June 18, 2019

CANNABIS: SALES SPIKED FOR THE “FOURTH OF JULY” SEASON

In previous years there have been records of very high spending on beers, fireworks, and wines during the week before the USA’s Independence Day, the reverenced Fourth of July.  This year, cannabis has joined the charts of America’s top spending for the Fourth of July, recording sales of 400 million dollars in the week before […]
  • July 10, 2019

US-China Trade War: America to Expect Inflation Caused by Raised Tariffs

  The US-China trade war is rubbing off on the businesses and citizens of both countries involved as Americans are beginning to worry about how the trade war could affect them. BBC World Service economics correspondent, Andrew Walker compiled series of questions that are being asked by Americans regarding the effect of the trade war […]
  • May 22, 2019

Disney is Optimistic about the Future Payoff from the Fox Deal

Disney CFO Christine McCarthy said that their acquisition of Fox will continue to impact their earnings all the way through their fourth-quarter. Still, the company remains optimistic about its decision to buy Fox and all their intellectual properties. Disney is primed to release their own streaming platform, Disney+, this November, in an attempt to compete […]
  • Vladimir Sumina
  • August 8, 2019
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Barneys Files for Bankruptcy

Barneys, an icon of New York for almost a century, has filed for bankruptcy this Tuesday. They are looking to find a buyer so they won’t have to resolve to liquidation. Only five out of their ten stores – the ones on New York’s Madison Avenue, in downtown Manhattan, Beverly Hills, San Francisco, and Copley […]
  • Vladimir Sumina
  • August 7, 2019
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iPic Entertainment Files for Chapter 11 Bankruptcy

The luxury theatre chain iPic recently filed for chapter 11 bankruptcy protection and is looking for potential buyers. The company, which is currently led by a former executive of big-box mega theaters, Hamid Hashemi, has claimed that the delays in development and the high cost of capital as the chief reasons for their bankruptcy. Hamid […]
  • Vladimir Sumina
  • August 7, 2019
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Burger King Has Chosen Impossible Instead of Beyond Meat

Jose Cil, the CEO of Burger King’s parent company, Restaurant Brands International, recently announced that they have chosen Impossible over Beyond Meat for their plant-based Whopper patty, since “it was the best product for our guests. The Burger King team in the U.S. tasted and tested several different alternatives. Guests validated [Impossible] through countless tests […]
  • Vladimir Sumina
  • August 3, 2019
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Wayfair Shares Whipsaw

Shares of Wayfair whipsawed after the company reported that they had a bigger loss in the second fiscal quarter because the costs for things such as advertising and customer support are up. They reported a loss of $181.9 million – $1.98 per share – compared with to a loss of $100.7 million – $1.13 a […]
  • Vladimir Sumina
  • August 2, 2019
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Gap Has a New Ad Campaign

The new ad campaign for clothing giant Gap stars a 7-year-old blind pianist and a 13-year-old electric guitar player, playing “Sweet Child O’ Mine” from Guns N’ Roses. This marks a push in Gap’s new identity and marketing strategy. CEO Art Peck said: “You’ll also see Gap brand reinvest in marketing, kids and baby business […]
  • Vladimir Sumina
  • August 1, 2019
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Facebook Will Ban the Selling of Alcohol and Tobacco Products between Users

Sales of alcohol and tobacco-related products will from now on be strictly prohibited on Facebook and Instagram. A Facebook spokesperson said: “We are updating our regulated goods policy to prohibit the sale of alcohol and tobacco products between private individuals on Facebook and Instagram. Our commerce policies already prohibit the sale of tobacco or alcohol […]
  • Vladimir Sumina
  • July 30, 2019
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Pfizer Will Combine its Business with Mylan

Pfizer, the largest drugmaker in the world, is planning to divest their off-patent drug business and to combine it with Mylan, a generic-drug maker. The agreement is structured as an all-stock deal, meaning that every share of Mylan will be converted into a share of the new company. The shareholders of Pfizer will own 57% […]
  • Vladimir Sumina
  • July 30, 2019
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Juul Co-founder Defends the Company In Front Of Congress

At a recent congressional hearing, James Monsees, Juul co-founder, defended his e-cigarette start-up by saying that the company never intended for minors to use its products, while still acknowledging that the company made some missteps. He and Juul’s chief administrative office, Ashley Gould, were called in to testify. Monsees said that Juul “never wanted any […]
  • Vladimir Sumina
  • July 27, 2019
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