Author: Ben Norman

What is the future for cryptocurrencies? At their highest points, Bitcoin and Ethereum were valued at $20,000 and $1,400, respectively. Since then, they have slid to $6,250 and $290, respectively. These 68 and 79 percent decreases have exemplified the rapid fall and distrust of cryptocurrencies – even the most popular ones. The exploding growth of crypto occurred largely due to successful initial coin offerings (ICOs), where different cryptocurrencies generated millions of dollars. The fall of cryptocurrencies largely occurred from the lack of media traction and excitement. In a domino effect, media companies covered less news on cryptocurrencies because they were…

Data development Google announced that it will invest $600 million into its data center outside Charleston, South Carolina. The data center is integral to Google’s company, as it is one of their only data centers. It helps operate some of its flagship programs like Gmail and Google Drive, which many consumers use and love. Google still has to gain approval from Berkeley County, so they have not listed any details about the improvements they will make to the facility. However, Berkeley County did disclose some details of the deal, including a considered property tax for the allowed expansion as well…

Vitamix announced on Monday that it will recall roughly 105,000 blenders after multiple consumers cut their hands on the blades. The company stated on its website, “Vitamix has received 11 reports of lacerations when consumers’ hands came in contact with exposed blades.” This occurs after the main portion of the blender is separated for cleaning, consequently exposing the blades at the bottom. The two blenders that Vitamix is recalling are the Ascent and Venturist, which will be marked as “03-18” on the blade itself. Customers should ensure that the blender they buy reveals a date after this so as to…

Nasal nightmare CVS Health’s 12 Hour Sinus Relief Nasal Mist is one product that was removed from shelves on Wednesday after the FDA found that the nasal spray contained a microbiological contaminant. FDA officials state that the contaminant is called Pseudomonas aeruginosa, a clear liquid that can lead to infection in the colon. In fact, it can be lethal to people who have cystic fibrosis or other similar diseases. The FDA also notes that no one has been harmed by this product to the best of our knowledge, but the risk is still imminent, which led to the urgency of…

Dropbox dropping On Thursday, Dropbox gave their quarterly report, delivering figures of revenue and earnings that beat expectations. However, shares still dropped for the tech company. In fact, on Friday, Dropbox’s stock dropped almost eight percent and COO Dennis Woodside announced that he will be stepping down. JMP Securities Analyst Greg McDowell explains that the loss of Woodside could be a major factor in the stock’s drop: “Dropbox was up 9% in trading, and it’s giving that back in the after market. Certainly losing Dennis Woodside is a part of that. He joined years ago when they were at a…

Roku enters streaming industry Roku announced on Wednesday that their free streaming service, which is run through ads, is available on computers and mobile devices. Originally, the service – called The Roku Channel – was only available for those who had a Roku TV. The channel is not targeted at avid TV-viewers, as it does not have an abundance of content and the content it does have is somewhat outdated. However, the channel will certainly help them gain users, and if they can gain more content, it could pose a challenge for smaller streaming services like Hulu. Roku has also…

Does T-Mobile have too many plans? T-Mobile announced on Tuesday that it is rolling out a cheaper unlimited plan for users, which undercuts both Verizon’s and AT&T’s unlimited plans. In fact, the plan even undercuts their own T-Mobile ONE plan, though it does offer fewer services. This plan marks T-Mobile’s fourth unlimited plan, which is certainly more than most carriers provide. The T-Mobile Essentials plan will be $60 for one person or $30 per person for a family of four, and it will offer unlimited minutes, texting, and data. Although the T-Mobile ONE plan is $40 per person, it does…

Has MoviePass finally found the solution? MoviePass, the subscription-based movie ticket service has changed its offerings once again, and it thinks that it has finally solved its expenses problem. The company originally offered one movie a day for $10 a month, but this cost them heavily with consumers that actually took advantage of the daily opportunity. In fact, the company explained that 15 percent of MoviePass customers were generating 40 percent of the company’s stock, which is an astounding portion. After this, they decided to raise the price to $15 per month and exclude major blockbuster films like Mission Impossible:…

All about the paper The only US producer of paper straws, Aardvark Straws, was acquired by manufacturer Hoffmaster Group on Monday. As cities and companies start leaning away from plastic straws, the demand for paper straws has skyrocketed. Aardvark was not able to produce the demanded amount of straws under their previous financial structure, so they decided to sell the company to Hoffmaster, who will better be able to meet demand targets. Hoffmaster food division president Andy Romjue explains, “In the coming months, we will aggressively ramp up Aardvark’s manufacturing capacity to meet the rapidly accelerating demand for paper straws.…

Commerce conundrum According to a report by Forbes, Commerce Secretary Wilbur Ross may have illegally siphoned over $120 million from business associates in the past. Forbes sat down with over 20 of Ross’s associates from his private equity firm WL Ross & Co., who all reported the amount of money Ross stole from them. In fact, multiple employees have even claimed that the company charged over $48 million in improper fees, which Ross took for himself. Additionally, the report showed that Ross & Co. had been charging investors for losses the company had faced. Ross defending himself, stating that “no…

Tesla tossup Elon Musk announced on Tuesday that he is considering taking the company private, as he loathes having to constantly answer to investors. In fact, Elon Musk even tweeted that he had secured funding to make it go private “at $420.” Although nothing has been confirmed, investors are still shaking at the thought of Tesla not being publicly traded anymore. Musk explained to employees, As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders…I fundamentally believe that we are…

Huawei, ZTE face more backlash The Democratic National Committee told Democrats not to use technology from Chinese-based smartphone manufacturers Huawei or ZTE. The DNC learned that an organization close to the party had considered purchasing ZTE phones for its democrats, which sparked the warning sign. They are the most recent organization to denounce the legitimacy of Huawei and ZTE; indeed, the FBI, CIA, and NSA all warned senators not to use smartphones from either company because of security concerns. Both tech firms have ties to the Chinese government, and although they deny claims that they deliver private consumer information to…

Are the “Blackfish” problems over? After SeaWorld’s earnings report on Monday, the aquatic entertainment park/zoo saw its shares rise over 15 percent. Visitors to the park increased by five percent in the second quarter, which is the second straight quarter of increases. This is positive for the SeaWorld, which has seen a drastic fall in visitors ever since the documentary “Blackfish” came out, which highlights an orca that had killed people because of its terrible living conditions at SeaWorld. CEO John Reilly attributes the rise in visitors to new rides, discounted ticket prices, and revamped marketing tactics that focus on…

Crypto continues to climb New York Stock Exchange operator International Exchange announced that it is establishing a company called Bakkt which will manage people’s cryptocurrencies. Bakkt will operate under Microsoft’s cloud technology and will allow users to trade cryptocurrencies and also convert them to dollars and other forms of currency. In fact, stores like Starbucks have even announced that they will accept crypto through Bakkt. Founder Howard Schultz explains, “I don’t believe that bitcoin is going to be a currency today or in the future. I believe that we are heading into a new age, in which blockchain technology is…

Self-driving carts Walmart announced on Friday that it will test automated carts in order to speed up online grocery orders. The supermarket giant revealed that its location in Salem, New Hampshire will now feature self-driving carts that move down aisles, picking out groceries for online orders. This is an attempt to speed up the process and optimize employee time, as these bots may be able to get items more quickly and give employees more time to complete other in-store tasks. However, the company did note that Walmart employees will still gather produce and meats for health and safety purposes –…

King of telecom T-Mobile announced on Wednesday that it has more users than any other carrier for the 18th straight quarter. The telecommunications company reported that they gained 1.6 million new customers in the second quarter. For comparison, Sprint had just 87,000 new users. In fact, the companies plan on merging soon. T-Mobile and Sprint have been in communication about a $26 billion deal that would combine the companies and create a telecommunications giant. It is uncertain whether or not the Justice Department will approve this merger, as it would be a massive telecommunications combination. If T-Mobile does acquire Sprint, however,…

That’s a lot of zeroes On Thursday, Apple officially became the first American public company to reach $1 trillion in value. Their stock rose over $207 on the day, allowing the company to cross that milestone. Apple’s shares jumped on Wednesday after their earnings report exceeded expectations, which caused the climb. This stems from the success of iPhone 8 and X sales as well as the increasing popularity of the App Store. Plus, they benefit from high consumer confidence and increasing popularity of technology among investors. The only other publicly traded company to cross the same mark is oil mogul…

Bankrupt Brookstone Technology and furniture retailer Brookstone announced on Thursday that it will file for Chapter 11 bankruptcy. The company reported that it will close all of its mall stores but will keep its airport locations. Brookstone is still looking for a buyer and has received a $30 million loan to operate while it waits. It reported that it has roughly $500 million in liabilities with a maximum of just $100 million in assets. The filling stems from the rapid decline of mall visitors, according to the company. Indeed, mall occupancy reached its lowest point in six years last quarter.…

Tit-for-tat escalates China announced on Friday that it will implement up to 25 percent tariffs on $60 billion worth of US goods if President Trump follows through with his plan of taxing $200 billion worth of Chinese goods. The move is the latest in a tit-for-tat standoff between the two countries. Tariffs have been increasing for both countries for months now with no signs of slowing down. China defends its position, “In violation of the bilateral consensus reached after multiple rounds of negotiations, the United States has again unilaterally escalated trade frictions.” The products that could face tariffs include libations,…

Roll credits The end may be near for MoviePass – parent company Helios and Matheson has seen its stock fall below 10 cents this week with no sign of recovery. Even after their one-to-250 stock split to try to revive their stock, boosting it up to $20 per share last week, they have still fallen 99 percent in the past week. After Thursday, their total market cap is a paltry $169,000. The company blames the exhibition industry for the fall of its stock, stating, Exhibitors know that without MoviePass they will be able to continue to charge exorbitant prices for…

Tesla troubles On Wednesday, Tesla CEO Elon Musk reported that the company may not meet its goal of one million Tesla vehicles by 2020. Musk explained in a conference call, “I think so, yeah. If it’s not a million, it’s going to be pretty close. I’d say if it’s not a million it’d probably be 750,000 or something like that in 2020. So, we’re aiming for a million, 2020, but somewhere between half million and a million seems pretty likely.” This isn’t the first time the company would reel in previous targets. Back in 2016, Musk announced that the company…

Users can now see if they’re addicted to social media Starting Wednesday, Facebook and Instagram users will be able to track how much time they spend on the applications. This includes data about the time spent daily and weekly, an option to stop push notifications for specific timeframes, and a self-implemented cutoff time for social media usage. These features combine to help people better understand and manage their time spent on these social platforms. Facebook director of research David Ginsberg reports that this will complement their News Feed changes in January, which optimized the posts on people’s news feeds. He…

Huawei is thriving…for now Chinese smartphone manufacturer Huawei announced this week that it has surpassed Apple as the second largest mover of smartphones. The company reported that in the second quarter of this year, they sold roughly 54 million phones, which represents a 40 percent year-over-year increase according to various research firms. In fact, last quarter, Huawei sold just 16 million less smartphones than Samsung – the largest smartphone seller. Even more impressively, this growth has occurred without US sales. Because of security concerns, government officials have banned Huawei from selling their products in the United States, fearing that China…

Do you take Visa? Supermarket chain Kroger announced that it may ban Visa cards from its store because of the fees the credit card company charges per transaction. In fact, some of its subsidiaries have already taken action. California-based Foods Co. announced that it will stop accepting Visa debit and credit cards in August across all stores. Chris Hjelm, a spokesman for Kroger, explained to Bloomberg,”If we have to expand that beyond Foods Co., we’re prepared to take that step. When the amount retailers pay in card fees ‘gets out of alignment,’ as we believe it is now, we don’t…

Mission: Impossible – MoviePass Profitability MoviePass announced on Tuesday that it will raise its prices and exclude popular movie debuts from its offerings. The movie subscription company has seen its stock plummet in recent months due to its high costs and lack of subscribers. Parent company Helios and Matheson had shares of $430 in May, and now, because of the plummet of their flagship subsidiary, their stock is now down to $0.25. Last month, MoviePass debuted their $10 monthly price for one movie per day to attract more buyers. However, because of increased costs, this figure is now rising to…

Redefining “direct to consumer” Tesla has faced inventory issues as demand for the company’s cars have increased rapidly. Because the company is finally starting to reach Model 3 production goals, this problem is growing more rapidly. Since the birth of the company, Tesla has delivered cars straight to consumers’ homes. A buyer can go into the store to order a Tesla and then take it from there after watching an instructional video. However, because of logistical issues of these deliveries and increased demand for the cars, thousands of Tesla vehicles are sitting in the factory parking lot, waiting to ship…

When it rains, it pours Facebook announced on Tuesday that it has removed multiple accounts that they believe are attached to Russians targeting US political elections. Facebook told lawmakers that over 30 accounts were likely linked to Russia, who used the pages to push political agendas. For example, the pages and events featured an anti-“Unite the Right” event, a march to commemorate the Charlottesville march last year where a woman was killed randomly. Although no glaring evidence was found, Facebook reported that there is likely a connection between these accounts and the accounts in Kremlin-linked accounts in 2016 that promoted…

Hang loose! Tesla quietly rolled out a new product for beach lovers and wave carvers this weekend – a limited edition surfboard. The tech company offered just 200 surfboards for $1,500 each, but unfortunately for surfers who didn’t hear about the news, they sold out almost instantly. The board is able to fit into the Model S, X, and 3 vehicles and matches the sleek red and black designs of the vehicles. Although it doesn’t have any spectacular features other than a clean design, on which Tesla collaborated with Lost Surfboards, the board is still reselling on eBay for as…

Tariffs continue to impact companies BMW announced over the weekend that it is raising the price of its SUVs in China because of the steep cost of tariffs on US imports. The two SUVs that will be affected are the X5 and X6 SUVs – their prices will likely increase from anywhere between four and seven percent, according to Reuters. This price change follows China’s implementation of an original 25 percent tariff on US cars and a more recent increase to 40 percent. This strategy by China stems from President Trump’s increase in tariffs against the country. He hopes to…

Not so sweet ending The parent company of the manufacturer that makes Necco and Sweethearts announced over the weekend that has closed abruptly. Round Hill Investments, the parent company, reported that it will sell its Necco brands to another manufacturer and close its factory in Revere, Massachusetts, effective immediately. This comes after their $17 million purchase of the candy maker in May. The close was so abrupt that workers did not even know it was happening – management told over 200 employees that Friday would be their last day, which shocked them. Necco is the oldest candy manufacturer in the…

Are offices becoming obsolete? Business workers in myriad industries have taken to co-working spaces over offices in recent years. Indeed, this theme has become present in startup-friendly cities like San Francisco, Los Angeles, New York, and Phoenix. These spaces usually offer cheaper options for growing businesses, as they have affordable monthly rates instead of a massive upfront cost. Plus, they usually provide versatility, as some have outdoor areas, couches, long tables, computers, and more. They promote collaboration and communication not only within a company but among other companies as well. One company that has been increasingly popular recently has been…

Papa John’s problems continue Papa John’s founder John Schnatter, also known as “Papa John,” will file a lawsuit against Papa John’s to access company records. Schnatter believes that he was treated unfairly following his racial slur in a media session. He explains that instead of defending him, the company threw him under the bus and sought to get rid of him before trying to alleviate the problem. In fact, a similar problem arose last year – the board pushed him to resign after he made controversial comments about NFL players kneeling during the national anthem. Schnatter explains in his complaint,…

Amazon continues to dominate Amazon exceeded investors’ expectations in the second quarter, causing their stock to jump almost four percent on Thursday. In fact, Amazon more than doubled analysts’ forecasts last quarter. They posted a $2.5 billion profit, $52.9 billion in revenue, and $5.07 per share. In fact, there’s a chance that Amazon might double expectations in Q3 as well. The e-commerce giant has shown that it continues to expand and thrive in those developing areas. For example, it has invested in prescription drugs and groceries through its acquisitions of PillPack and Whole Foods, respectively. They have proven these investments…

Under Armour faces major cash problem On Thursday, Under Armour announced that it will add $80 million to its previous $130 restructuring plan. The sports apparel company also announced losses of almost $96 million last quarter, compared to just $12.3 million last year. The company is shifting its focus away from expensive shoes and apparel and leaning into cheaper sneakers and more casual clothing. This is certainly working, as last quarter’s sales rose over one percent year-over-year. CEO Kevin Plank told investors, “We are tracking well against our multi-year transformation to build a stronger, leaner and more operationally excellent company…[But]…

Qual-lateral damage Qualcomm announced in October 2016 that it would acquire NXP for $47 billion. However, the country still awaits China’s approval of the deal. Because of this, Qualcomm has decided to pull out of the acquisition. The tech firm does not believe that China will accept the merger, so it has decided to scrap the deal altogether instead of extending the fight. China had to decide by midnight Wednesday night, but it failed to do so. Consequently, Qualcomm will have to pay a $2 billion severance fee. Qualcomm CEO Steve Mollenkopf explained, “We intend to terminate our purchase agreement to…

Tariffs hit GM General Motors (GM) reported on Wednesday that they will post fewer earnings than they originally anticipated. The forecasted drop stems from the increase of aluminum and steel from President Trump’s tariffs. In fact, according to Reuters, their costs are expected to rise $500 million to a whopping $1 billion. However, CFO Chuck Stevens did admit that the tax reform bill and the low unemployment rate will both help the company with its expenses. He explains, “What happens beyond 2018, there’s a lot of uncertainty in this space at this point in time.” The tariffs have increased expenses…

Facebook face-palm Before Facebook’s announcement late Wednesday, their stock was doing well. It rose just under one percent to give the company a new record high stock value of $216.30. But then, Facebook shocked investors, warning that sales will slow in the coming quarters as they continue to tackle privacy issues. Because of this, their stock price value dropped 19 percent on Thursday, equating to $120 billion in market value. In fact, Forbes reports that Mark Zuckerberg’s own net worth plummeted by more than $11 billion. The company told investors that it will put more money and resources into the development…

Juul problems Massachusetts is investigating e-cigarette company Juul Labs for its potential targeting of kids and blatantly addicting them to nicotine. Juul Labs controls over 66 percent of the e-cigarette market, and a significant portion of this figure comes from teenagers. Massachusetts Attorney General Maura Healey believes that Juul is focusing their marketing and sales strategies specifically on underage kids so that they will be addicted to nicotine and buy their products for a long time. E-cigarettes are primarily used to wane smokers off of cigarettes, but Healey argues that this is not Juul’s intention at all. She believes that…

Verizon bets on 5G Verizon announced on Tuesday that it will abandon its pursuit of content and focus on expanding its 5G network. For a while, Verizon had tried to breach into the content market with other telecom giants like AT&T and Comcast. AT&T hopes that the acquisition of Time Warner gets approved after the Justice Department recently appealed the approval. Comcast currently owns NBC, so it is also a player in the content industry. However, Verizon does not have much in its repertoire, and initially, it sought to change that with sports and entertainment. CEO Lowell McAdam explains, “We’re…

Waymart? Walmart revealed Wednesday that their location in Chandler, Arizona will feature self-driving cars that lead customers to and from the store. When customers buy groceries online, a Waymo self-driving car will be sent to pick them up and then take them to the Chandler Walmart. Then, an employee will bring their groceries to the car, which will take them back to their home. Vice President of e-commerce operations Tom Ward explained, “The purpose of all of this: to learn. While giving customers a unique experience with amazing technology, we’re learning how we can make Walmart online grocery pickup even…

European court doesn’t break over KitKat Nestle attempted to overturn a ruling a European court ruling that claimed it had not proven KitKat’s shape should be allowed a trademark. The European Court of Justice dismissed this attempt quickly and set them back even more. In fact, not only did they dismiss the attempted overturn, but they also mentioned that the European Union Intellectual Property Office should reanalyze its former decision to trademark KitKat. Back in 2006, the Intellectual Property Office gave KitKat a trademark, but Cadbury later challenged this which led to this most recent development. Nestle has announced that…

Grubhub investors are eating After Grubhub delivered its earnings report, its stock skyrocketed 20 percent to set a new high for the company. Grubhub shocked investors, beating expectations by large margins. Revenue rose by more than 50 percent quarter-over-quarter and profit rose by over 100 percent. Plus, Grubhub continues to make strategic moves – they are partnering with restaurants like Yum!, the owner of KFC, Taco Bell, and Pizza Hut. In fact, Yum! even purchased a stake in Grubhub. The food delivery company also announced its acquisition of LevelUp for $390 on Wednesday. LevelUp will help them create digital payment…

Fast food…to prepare? Chick-fil-A announced on Monday that it will test meal kits through mid-November. Kit options will include chicken flatbread, chicken parmesan, and chicken enchiladas with sides like kale and mac-and-cheese. Meal kits have become increasingly popular with services like Blue Apron, where consumers can order ready-to-make ingredients for specific meals. Chick-fil-A is hoping to breach that market, and if it can do so effectively, it could open up Chick-fil-A’s menu. Moreover, because Chick-fil-A is fast food, it can’t afford to make complicated dishes like chicken enchiladas – that would slow down business and take away the entire point…

Nike says “Just Do It” to wage increases Nike announced on Monday that it will increase the wages for roughly 7,000 employees. Spokeswoman Sandra Carreon-John explained that Nike reviews wages annually, but they took an even closer look this year. The athletic apparel company limited the number of employees that would receive the wage to continue competition within the company. Following an April report by the New York Times in which multiple employees complained about gender discrimination and sexual harassment, this wage increase looks good for Nike. The company lost multiple executives amidst these allegations, so they needed a reboot…

Baggage check may be speeding up soon In London’s Heathrow Airport, security is testing new 3D scanners that would permit passengers to keep all of their belongings in their carry-on bags. The technology allows Transportation Security Administration workers to see all individual items in your bag, including liquids, laptops, and potential explosives. This means that people would no longer have to take anything out of their bag, making the security process significantly faster. This is still in the trial phase, meaning passengers should not get too excited. Over the next six to twelve months, Heathrow (as well as other airports…

Atos expands to US market French IT firm Atos acquired US IT firm Syntel this weekend, a deal worth $3.4 billion. The deal will give Atos exposure to US firms and better equip the company with knowledge about certain aspects of the IT industry. Syntel has expertise in cloud services, social media and mobile analytics, and more, which are all very important knowledge bases in IT sector. Plus, because Syntel is based in Michigan, it has access to more North American clients than Atos. The French firm’s sales in the US dropped unexpectedly in the first quarter of 2018, which…

Hasbro avoiding turning into a has-been? Ever since Toys “R” Us closed, Hasbro has been struggling to generate sales and keep their profit margins up. However, in Q2 of this year, the toy manufacturer may have turned over a new leaf. Sales were still down by 7 percent last quarter, but they still exceeded expectations by a significant amount. Because of this, Hasbro’s stock (HAS) jumped 13 percent on Monday following the news. In fact, CEO Brian Goldner believes that by 2019, the company will be able to perform at the same level as had before Toys “R” Us went…

Soy and almond “juice?” Many coffee shops, grocery stores, and other sellers label non-dairy products like soy and almond milk as just that – milk. Now, the US Food and Drug Administration may be changing the labels on these products. According to the FDA, milk is “the lacteal secretion, practically free from colostrum, obtained by the complete milking of one or more healthy cows.” Clearly, soy, coconut, and almond milk do not meet that criteria, meaning it has been mislabeled for years. The FDA strives to properly label goods so that consumers know exactly what they’re purchasing and consuming. The topic…

Can Walmart compete with Amazon? Walmart announced this week that they will launch their own streaming service, through Vudu, to compete with Amazon and Netflix. Vudu is a Walmart-owned platform that allows consumers to purchase and watch videos and television shows — it’s essentially like a video store in your home.  But now, they want to bring streaming services onto Vudu to attract more consumers and take away potential users from Netflix and Amazon. According to reports, the new Vudu could cost less than $8, which favors well against Netflix – Netflix’s basic, standard, and premium plans price at $8,…

Sugared drinks ban not so sweet for restaurants Baltimore announced Wednesday that sugared drinks will now be banned from kids’ menus in the entire city. The city is the largest to do so, passing the Baltimore City Healthy Kids Meals Bill in April and putting it into effect this week. Restaurants who fail to comply will be fined $100, which is not a hefty amount but can certainly add up. Although parents can still order sugared drinks for their children, this still goes a long way toward curbing unhealthy beverages. Baltimore health commissioner Dr. Leana Wen states, “Passing a law…

City Council challenges Airbnb New York City’s City Council voted on Wednesday to move a bill forward that will block rental services like Airbnb. For hosts to continue renting their space short-term, they will need to register their space with the Office of Special Enforcement. If the bill passes, Airbnb will have to give the city their listings’ addresses, host-names, and their primary addresses. This is also a way for NYC to halt the operation of illegal hotels, which is common in the city. If companies like Airbnb don’t deliver this information, they will face a $1,500. Airbnb strongly opposes…

Microsoft sales on Cloud Nine Microsoft announced Thursday that it raked in $110 billion in the 2018 fiscal year – the first time it’s eclipsed $100 billion in the history of the company. The milestone largely stems from the tech giant’s investment in its cloud business. Their commercial cloud arm pulled in almost $7 billion in Q2 – a 53 percent year-over-year increase. In fact, this year saw a 14 percent increase in revenue from 2017. According to Synergy Research Group, Microsoft now has a higher public cloud market share than Google and only falls behind Amazon. Stifel Brad Reback…

Amazon continues to roll This year’s Amazon Prime Day was the biggest shopping event in the history of Amazon. Sales on the day eclipsed that of Cyber Monday, Black Friday, and other major shopping days. According to the company, Amazon Prime members purchased over 100 million products. Items varied but popular sales included video games, smartphones, and light bulbs, to name a few. Even Whole Foods saw sales jump on the day, with strawberries raking in the most purchases. Amazon did not disclose the total amount of money that was generated on the day, but Coresight Research estimates the sales…

Google faces another European lawsuit The European Commission announced on Wednesday that it is fining Google €4.34 billion ($5 billion) for forcing its Google apps onto smartphone users. Antitrust official Margrethe Vestager had this to say about the fine: Google has used Android as a vehicle to cement the dominance of its search engine. They have denied European consumers the benefits of effective competition in the important mobile sphere. European officials determined that Google broke the law by mandating manufacturers to have Google Search and Google Chrome apps in order to utilize the Google app store. In fact, the tech…

Air Force One deal has liftoff Boeing recently signed a contract with President Trump to test and modify two new Air Force One jets – the deal is valued at $3.9 billion. The Boeing 747/748’s will be finished by 2024 according to sources, which would be Trump’s last year in office if he wins reelection. Although a White House spokesman claims the president’s negotiated deal will save taxpayers over $1 billion. However, other estimates claim taxpayers will only save a few hundred million dollars. The negotiation process all started in January 2017 when President Trump tweeted, “Boeing is building a…

MGM suing its victims? In an effort to avoid liability for the mass shooting in October of last year, MGM Resorts is seeking to sue over 1,000 victims to avoid their potential lawsuits. Many victims have already set out to sue MGM, accusing them of not providing thorough security to keep them safe. Stephen Paddock, the shooter, killed 58 people and wounded over 500 more that day. MGM is seeking this loophole that they just found two weeks ago to dodge any allegations of their security incompetence. In fact, after the infamous 9/11 terrorist attack, lawmakers passed the Support Antiterrorism…

Uber faces über lawsuit The US Equal Employment Opportunity Commission is investigating Uber for potential gender discrimination. According to some sources close to the matter, this investigation has been ongoing since August 2017. CEO Dara Khosrowshahi has been trying to change the cultural atmosphere of Uber, which had been toxic ever since previous owner Travis Kalanick was pushed out. Former employees had accused Kalanick of sexual harassment and misconduct in the workplace. Other executives have also been accused of harassment or racial discrimination. Ingrid Avendaño is the former employee leading the lawsuit against Uber. She claims she experienced sexual harassment,…

Netflix’s victories still fall short with investors Netflix gained over five million subscribers last quarter, but that was still not enough to appease investors, who estimated they would gain closer to six million. Even though Netflix continues to dominate the media market, investors are still not impressed; indeed, it seems as if the bar is just set too high for the media mogul. Netflix generated $3.9 billion in sales and $384 million in profit, yet their stock still dropped 13 percent on Monday. Investors worry about competitors gaining ground on Netflix. Although the popular streaming service is the most popular…

The stock market is currently thriving The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all closed at brilliant levels on Friday. The Dow reached 25,000 points, its highest in the past 30 days. Secondly, the S&P 500 hit its highest point in the past five months. And finally, the Nasdaq closed at a record high. The growth largely stems from the continued success of major tech companies like Amazon, Microsoft, and Google, which all reached record highs on Friday. Success in these markets can largely be attributed to big banks’ impressive earnings reports as well as ease surrounding…

McDonald’s facing PR disaster On Friday, health officials announced that McDonald’s salads made over 60 people sick from cyclospora in multiple states. To contain the minor epidemic, McDonald’s has pulled salads from 3,000 stores across 14 states, including: Illinois, Iowa, Indiana, Wisconsin, Michigan, Ohio, Minnesota, Nebraska, South Dakota, Montana, North Dakota, Kentucky, West Virginia and Missouri. McDonald’s had this to say about the outbreak: Out of an abundance of caution, we decided to voluntarily stop selling salads at impacted restaurants until we can switch to another lettuce blend supplier. We are in the process of removing existing salad blend from…

OPEC continues to struggle with oil production Several workers were abducted from the Sharara oil field, Libya’s biggest, so authorities evacuated many employees and shut down most of the field on Sunday. According to the National Oil Corporation, the oil field’s output will fall by roughly 160,000 barrels a day – almost half of their usual production levels. Sharara has faced many hurdles in the area, including protests and armed attacks. The political atmosphere of the area has plagued their production levels in recent months. Sharara was anticipated to ship almost seven million barrels of oil in July, but they…

Build-A-Bear attempts to rebuild its reputation Toy manufacturer and retail store Build-A-Bear recently rolled out a one-day “Pay Your Age” sale, in which people could come into the store and do exactly that – pay the price of their age – for a bear. However, after overcrowding in stores and overcapacity on orders, Build-A-Bear had to change the terms of the deal. Now, consumers can come in on their birthday to make use of the “Count Your Candles” sale. For example, if a child turns five years old, they will only have to pay $5 for a Birthday Treat Bear,…

Baby powder not as safe as one might think On Thursday, a Missouri circuit court ordered Johnson & Johnson to pay $4.69 billion to over twenty women for their baby powder products, which supposedly contained cancer-forming asbestos. The court ruled that Johnson & Johnson did not give effective warning to these women and their families of the possibilities of ovarian cancer. According to lawyer Mark Lanier, Johnson & Johnson has covered up this fact about their talcum-powder products for over 40 years. Six of the 22 prosecuting women have died from cancer after using the powder. However, Johnson & Johnson…

India Ikea customers will have to wait Swedish furniture manufacturer Ikea announced on Friday that it will suspend the opening of its first location in India following quality concerns. Ikea has been planning the launch of its new store in Hyderabad, India for years. It initially announced that the store would open July 19, but they sent out a notice on Friday that it will instead open on August 9. The store is highly anticipated and expects to bring in 7 million visitors annually, according to CNN. The company also plans on building stores in Mumbai, Bangalore, and New Delhi…

Green Apple Apple announced on Thursday that it will invest $300 million in clean energy in China. The company stated that it will partner with ten of its global suppliers in the initiative. Their goal is to create enough renewable energy to power one million homes in China. Not only is this initiative beneficial for the environment, but it is also very strategic for Tim Cook. Many parts of Apple’s business go through China, especially in the manufacturing stages; in fact, beyond manufacturing, China creates 20% of Apple’s sales. Plus, with the looming trade war, it is good to make…

Gawker gossip Bryan Goldberg, the owner of Elite Daily, Bustle, and more, won the auction for Gawker.com on Thursday, with the final purchase price valued at $1.35 million. Gawker faced bankruptcy after venture capitalist Peter Thiel launched a lawsuit against Gawker with wrestler Hulk Hogan. The site posted a video of Hogan in a sexual setting, which it was clearly not allowed to do – it created a two-year bankruptcy stay for the gossip blog. If a court approves the purchase, then Gawker is in good hands with Goldberg. According to him, Bustle reaches more than 800 million women every…

Are eSports real sports? ESPN signed a deal this week with video-game company Activision Blizzard. The deal gives ESPN the TV rights to popular action game Overwatch. The deal will put Overwatch on many channels, including ABC, ESPN, and ESPN 2. The upcoming Overwatch League playoffs will mark the first time that an eSport has aired on ABC and the first time ESPN will broadcast an eSport during primetime, which is a huge deal in both cases. Disney Executive Vice President Justin Connolly had this to say about the acquisition: The Overwatch League Grand Finals is by far our most…

Facebook’s back is against the wall yet again On Tuesday, UK authorities announced that Facebook will be charged £500,000 for the Cambridge Analytica scandal. According to the authorities, Facebook failed to keep data of its users safe, and simultaneously, it did not inform users of how Cambridge Analytica used their data for political gain. In March, a scandal about Facebook and its involvement with political data company Cambridge Analytica surfaced. The UK’s Information Commissioner’s Office started an investigation of Facebook’s relationship with Cambridge Analytica and found that Facebook shared millions of users’ data with the company for political purposes. Facebook Chief…

Can ZTE bounce back? China tech-firm ZTE saw its stock rise 25% on Thursday following a government announcement that the US ban will soon be removed. The US Commerce Department first created the ban on the tech firm because of its trade with North Korea and Iran – despite the sanctions the US placed on those countries. The ban forbade any American company from selling its technology to ZTE, on which the company desperate relies. Recently, President Trump agreed to remove the ban if the company pays a $1 billion fine, completely changes its management, and puts $400 million into…

Broadcom not blowing away investors Semiconductor manufacturer Broadcom announced its acquisition of software firm CA Technologies for $19 billion. The deal will expand the horizons of a company that focuses solely on semiconductors – now, Broadcom will have access to software for computers. Broadcom plans on financing the hefty deal through cash and refinanced debt. Although this may seem like a big acquisition because of the sheer value, investors have been critical of it thus far. Broadcom shares fell 7 percent after the deal was announced, as investors do not know how the two companies will work together or what…

Is California inspiration for other states? On Wednesday, the California Air Resource Board reported that California greenhouse gas emissions dropped by 2.7 percent in 2016. That brings their greenhouse gas emissions for the year down to 429.4 million metric tons – that may still seem like a lot (and it is), but it’s actually very impressive. The state made the goal of reaching sub-430 million metric tons in the year 2020, so they’re four years early, which is something to sneeze at. This puts it on track to reach its goal of reducing emissions by 40 percent by 2030. Plus,…

AT&T-Warner not over yet The Justice Department reported on Thursday that it will appeal AT&T’s acquisition of Warner, which Judge Richard Leon approved last month. Judge Leon ruled that the merger did not break any antitrust laws, and if it did, the government failed to show that. When the Justice Department first opened the case last year, they argued that it would cause prices for consumers as well as reducing competition and growth among other companies. Leon even wrote in his filing that the government would have a hard time appealing this decision, as the deal was already approved. He…

Untouchable pharma manufacturers Pfizer agreed to halt the increase of its drug prices after President Trump talked with its executives, but that doesn’t mean other companies haven’t been ramping up prices. According to Wells Fargo, in June and the first few days of July, pharmaceutical manufacturers raised the prices of 104 drugs (!!!). Teva Pharmaceutical raised prices of their drugs by 9 percent, and Novo Nordisk raised the price of an insulin drug by percent. Novo Nordisk spokesman Ken Inchausti had this to say about the price increase: We don’t intend to reverse our list price increases, which are in…

JetBlue takes flight with A220 purchases JetBlue announced on Tuesday that it will buy sixty of Airbus’s new A220 model, manufactured in Mobile, Alabama. Airbus is making the JetBlue with smaller jet manufacturer Bombardier – in fact, Airbus is even hijacking their name, changing it from the Bombardier C Series to the Airbus A220. JetBlue CEO Robin Hayes had this to say about the purchase: We are evolving our fleet for the future of JetBlue, and the A220-300’s impressive range and economics offer us flexibility and support our key financial and operating priorities. As JetBlue approaches our 20th anniversary, the…

Ah, nuts. Southwest removes peanuts from flights After August 1st, Southwest Airlines will no longer give out free peanuts to its passengers. The free peanuts were the airline’s trademark for over 47 years, and many people often looked forward to the free snack on flights. However, to appease passengers with nut allergies, they decided to pull the snack from their offerings. Southwest explains, We’ve made the difficult decision to discontinue serving peanuts on all flights. Peanuts forever will be part of Southwest’s history and DNA…Our ultimate goal is to create an environment where all customers — including those with peanut-related…

Sky’s the limit for Fox 21st Century Fox announced on Wednesday that it has upped its bid for UK broadcaster Sky to $32.5 billion (£24.5 billion). Fox has been deadlocked in a bidding war with Comcast over Sky since April, and this most recent bid eclipses Sky’s by 12 percent. In fact, it’s 30 percent larger than Fox’s original bid for it back in 2016. Even if Comcast doesn’t fire back with a raised offer, Fox still needs the approval of the UK government. Fox will need to sell Sky News to a third party, as British regulators worry that the…

YouTube attempts to stop misinformation “Fake news” seems to be a popular discussion in today’s media, and it seems to be very apparent on YouTube, where content creators can use misinformation in their videos to gain more views. YouTube chief product officer Neal Mohan announced on Monday that the company is “making changes to put more authoritative content in front of people.” Critics are wary about how they will determine what content is “authoritative,” but YouTube sought to appease these critics by releasing product changes at a New York press event. For example, the search engine will now put more…

Marvel impresses once again (for the 20th straight time) Ant-Man and the Wasp, the sequel to Marvel’s Ant-Man, starring Paul Rudd and Evangeline Lilly raked in just $76 million in its North America box office debut. The movie features two ordinary people who can alter their size, becoming miniature or gigantic with a push of a button, in order to defeat criminals. Ant-Man is one of many superheroes in the Marvel universe, which connects most superheroes in one way or another. Through all of these movies, Disney’s Marvel Studios has generated $17 billion over the years, which is more than the…

Tencent Music coming to US headphones soon China-based tech firm Tencent announced that it will sell shares of its subsidiary Tencent Music on the US stock exchange. Tencent did not deliver any other information in its announcement, such as timing or how much its initial public offering will be. However, recent reports show that moving to the US stock exchange will make Tencent Music worth $30 billion, comparing favorably to streaming services Spotify and Apple Music, which value at $26 billion and $10 billion, respectively. In fact, Spotify and Tencent Music own shares of each other as of last December.…

Lyft expands portfolio with bikes Lyft announced on Monday that it will acquire bike-sharing giant Motivate for an undisclosed amount. Motivate is the parent company of popular bike-sharing networks like Citi Bike in New York and the Bay Area, and Capital Bikeshare in Washington, D.C. The acquisition comes at a time when Lyft it trying to strategically shift gears (pun intended) with its ride-sharing options. They want to diversify their clientele, which has shown through new developments like Lyft Line, where people can share rides for a cheaper price. Adding bicycles to their portfolio will allow them to target short-distance…

Sonos shows reluctance in anticipation of IPO On Friday, smart-speaker manufacturer Sonos filed paperwork for its IPO, which is anticipated to raise $100 million. However, it did offer a piece of reluctance: Chinese tariffs. Although Sonos has reported that the aluminum, steel, and other tariffs have not increased costs of their product, it definitely causes concern for the future. Friday’s tariffs are the most recent in the looming trade war with China, as the Trump administration imposed $34 billion worth of Chinese goods. Unsurprisingly, China fired back with its own tariffs on US goods. Analysts don’t expect the tariffs to…

Turbine manufacturer charged in intellectual property theft case A judge ruled that Chinese turbine manufacturer Sinovel Wind Group must pay $59 million in fines due to its attempts to steal trade secrets from wind tech firm AMSC. Because of the ruling, China was also placed under a microscope, as judges wonder if the country is regulating laws on intellectual property. According to AMSC, the theft of their technology cost them roughly $800 million. However, AMSC reached just a $57.5 million settlement with Sinovel – the remaining $1.5 million will go to the United States. The relationship between Sinovel and AMSC…

Binance stays consistent as crypto market fluctuates Overall, cryptocurrency values have fallen by 70% so far this year. Crypto exchange firm Binance, however, does not seem to have the same woes. Binance CEO Changpeng Zhao reported to Bloomberg that he plans on generating at least $500 million in profit in 2018, and this figure could rise as high as $1 billion. Binance is the world’s largest crypto exchange company, and it continues to grow as the increasing popularity of cryptocurrencies draws in more users. In fact, at the beginning of 2017, Binance had two million users. Currently, it has ten…

Will airplane seats ever stop shrinking? The Federal Aviation Administration announced last Tuesday that it will not establish a minimum width or seat length on airplane. Last year, aviation legislation organization Flyers Rights sued the FAA for having seats that created safety concerns because of their small size. The FAA struck down these allegations, claiming that the 27 inches of pitch created reasonable room for passengers to evacuate in the event of an emergency. However, the FAA does not have much evidence on its side, and it may hurt them in the future. To counter the allegations, the FAA watched…

Batista booked Eike Batista, a Brazilian oil and mining mogul, was sentenced to 30 years in prison on Tuesday after paying over $16 million in bribes. Moreover, Federal Judge Marcelo Bretas found Batista guilty of bribing Rio de Janeiro governor Sérgio Cabral to secure contracts with the state. Consequently, Judge Bretas sentenced Cabral to prison-time as well, which pushes his previous 22-year sentence to 120 years– essentially a life sentence. Judge Bretas had this to say about his ruling, [He was] a businessman who was known outside, and exactly because of it, his criminal practices had the potential to contaminate…

Can Amazon bring back the toy market? Toys ‘R Us’ bankruptcy is Amazon’s gain this holiday season, as the e-commerce giant will send out a toy catalog to  subscribers. When Toys ‘R Us was still in business, they would send out a catalog of hundreds of pages of toys to its consumers – this would encourage these people to come into a store and buy toys or order online. However, now that the once-dominant toy store no longer exists, Amazon will fill that void with their own catalog. Details for the catalog are far from certain, though. Amazon will face…

Sorrell seeks new beginning in S4 Capital Martin Sorrell, the founder of advertising giant WPP plc, asked his shareholders this week for permission in raising £1 ($1.3 billion) for his new ad venture. His new company, S4 Capital, will have a purpose different than WPP plc, as it would not be able to compete with WPP and the massive clients it acquires. Instead, S4 Capital will target smaller, rising firms that focus on technology and data. In fact, according to the letter sent out to shareholders, Sorrell is already in talks with many companies to strike advertising deals. S4 Capital…

Boeing and Embraer diversify, gain an edge on competitors Boeing and Brazil-based jet manufacturer Embraer announced on Thursday that they are partnering in a deal worth $4.75 billion. This quid pro quo deal will help Boeing and Embraer compete in the aerospace industry in multiple ways. First, the joint partnership benefits Boeing significantly. Moreover, it will allow Boeing to breach the market for smaller aircrafts and better compete with Airbus. However, even beyond that, Embraer will help Boeing produce airplanes more cheaply and efficiently, at which the Brazilian firm excels. In fact, Boeing announced that the partnership will create $150…

Soybeans shortage in China China’s tit-for-tat tariffs on US exports take effect on Friday, and because of that, Chinese firms are pulling out of their soybean deals. According to the US Department of Agriculture, the country as a whole has denied the purchase of over 1 million metric tons of soybeans. Companies have already resold almost 125,000 tons to Bangladesh and Iran to avoid the tariffs. Because soybeans are a big part of the food industry in China, they still have to regain that supply somehow. Consequently, Chinese companies are purchasing from Brazil. However, Brazilian supply peaks in the second…

Netflix cements itself as king of media Financial service company Cowen Group asked roughly 2,500 adults, “Which platforms do you use most often to view video content on TV?” 27% of the population said Netflix, giving it a whopping 7% margin over the next highest – which is cable at 20%. In fact, the numbers are even more impressive when one looks at the age range of 18-34. Netflix had almost 40% of the vote, compared to YouTube at 17% and cable at 12.6%. In fact, competitors Hulu and Amazon Prime combined to make up just 11% of votes. The…

Opioid death crisis linked to OxyContin? The state of Minnesota is suing pharmaceutical manufacturer Purdue Pharma for its marketing of narcotic OxyContin. Attorney General Lori Swanson believes that Purdue Pharma did not highlight the addictive nature of the drug in its advertising so that it would be able to sell more. Because of this, addictions and overdose deaths because of Oxy have increased dramatically. Indeed, opioid deaths in Minnesota have risen over 600% since 2000. In 2017, 401 people died due to opioids. She states, This company misrepresented and minimized the addictive nature of its drugs in order to sell…

Best Buy pushes pause on CDs Best Buy announced over the weekend that it will no longer sell music Compact Disks (commonly referred to as CDs) in its stores starting July 1. US CD sales dropped 18.5% in 2017, and according to USA Today, entertainment sales for Best Buy alone dropped 14%. Indeed, some experts have reported that CD sales generate just $40 million, making up a paltry 1% of the technology store’s revenue. Interestingly, the franchise will continue to sell vinyl records in its stores. Vinyl records have been thriving in recent years; in fact, according to the Guardian,…

Australia follows plastic ban trend Specific retail chains and Australian chains have announced that they will ban single-use plastic bags starting July 1. Queensland and Western Australia will ban single-use plastic bags in the entirety of the states, and retail stores Coles and Big W will ban them in all locations. Tasmania, South Australia, and chain Woolworths are other parties that have recently banned plastic bags as well. And while this policy will help the environment and keep plastic out of oceans, some people are losing their minds over it. For example, one man at a Woolworths actually started to…

Amazon adds to its portfolio PillPack, a Boston-based pharmacy startup, has just made a $1 billion deal with Amazon, from which the two co-founders will make $100 million each. The five-year-old company uses software to speed up the refill and co-pay processes; plus, it ships combined prescriptions for people that take multiple kinds of drugs. It has roughly 50,000 customers and pharmacy licenses in all US states, making it a formidable opponent to standard pharmacies like Walgreens and CVS. In fact, after the news last Thursday, CVS stock fell 9% and Walgreens dropped 10%. Amazon beat out Walmart’s bid for…

CHET hacked The Connecticut Office of the State Treasurer announced that hackers stole roughly $1 million from the Connecticut Higher Education Trust (CHET), a state-sponsored college savings plan. CHET is a 529 plan, in which citizens set aside money to save for steep college tuition costs. Only 21 customers were harmed by the security breach, whom Tuition Financing, Inc. will reimburse for their losses. However, the fact that a state-sponsored account got hacked raises many red flags around the city’s overall security. After an investigation, TFI found that no other plans were hacked. At this point, they do not know…

Dunkin’ drops delicious donut fries Dunkin’ Donuts announced that starting July 2, their stores will now offer donut fries at various locations in the US. The donut fries are essentially like mini churros that rival Auntie Anne’s and Wetzel Pretzel’s bite-sized sugar pretzels. They will come in boxes of five and sell for roughly $2. Although this is more than an average $0.99 donut, it is much more special and likely contains a bit more substance than one donut provides. Plus, Wetzel Bitz start at $4.99 at most locations. In addition to the fries, Dunkin’ will also unravel a new…

Weed regulations weeding out smaller firms Starting July 1, marijuana retailers must meet strict safety requirements in order to sell. Because of these approaching regulations, smaller companies that grow in less regulated environments are selling for much cheaper prices. The state policy gave all marijuana sellers a 6-month window to sell their products before being regulated for growth reasons. By giving them a head start, the government could see the industry take off in full effect without any obstacles for smaller growers and sellers. However, many sellers are worried about the limited access to facilities to grow regulated marijuana. California…

The Justice Department approved Disney’s bid for Fox on Wednesday. Although the deal is not finalized yet, this is a big step for the companies to successfully merge. The acquisition still needs approval from a federal judge and Fox shareholders, but considering the ease of the AT&T-Warner acquisition and the anticipated payday for shareholders, neither step should create a major obstacle. Disney recently upped their bid for Fox, which now values at $71.3 billion. Although Comcast could still counter with another bid increase, this is unlikely for multiple reasons. First, Comcast would have to take on a mountain of debt…

More food manufacturers merge Two frozen food companies, ConAgra and Pinnacle Foods, merged on Wednesday, creating a massive frozen food giant. ConAgra purchased PF for $10.9 billion. ConAgra owns popular food brands like Orville Redenbacher’s and Chef Boyardee, and Pinnacle Foods owns Hungry-Man and Birds Eye, among others. The companies are the two major leaders in the frozen food industry – an industry that is thriving relative to other food manufacturers. Further, food manufacturers have struggled recently as grocery stores like Amazon, Walmart, Target, and Kroger continue to push prices down. Although consumers benefit from these lower prices, the manufacturers…

Facebook steps back from drone project Facebook announced on Tuesday that it will no longer pursue the Aquila program, the internet-drone project it launched in 2014. The object of the drones was to send Internet down from the sky to anywhere in the globe. Facebook built and tested a droned successfully in 2015, but the operation had mixed results. Although the technology broke data transfer rate records, the drone failed to land successfully and malfunctioned. Although the lackluster tests did not deter Facebook from continuing development, they recently decided to take a step back due to aeronautic companies’ emphasis on…

Disney gains an edge over Comcast The bidding war for 21st Century Fox has ramped up between Disney and Comcast, with Disney holding the highest bid currently, but Fox has recently reported that it favors Disney far over Comcast. Comcast has the chance to rebut Disney’s offer, but Fox has reported that the deal will likely not go through with the SEC. Even though the court approved the AT&T-Warner merger, which has a similar nature as Comcast-Fox, Comcast is also much larger than AT&T as a distributor. Indeed, not only is Comcast the largest Internet provider in the US, but it…

Plastic policy ramps up in India On Saturday, Maharashtra’s ban on single-use plastic items – including food containers, shopping bags, forks, knives, and straws – came into effect on Saturday. Maharashtra marks the 25th out of 29 states in India to adopt the plastic policy. However, the city may have a larger effect than the rest, as it is India’s second most populated city and plans to enforce the rules strictly. The other cities, on the other hand, have treated the policy fairly loosely since their implementation. McDonald’s was one of many companies to be hit with a fine after the…

Uber victory in London In September, Transport for London did not renew Uber’s license to operate due to its inability to report background checks of its drivers. However, on Tuesday, the court decided to give them a 15-month operating license in the British city. Uber executives accepted the charges by the London court and were willing to grow from them. In fact, the company even implemented new policies like 24/7 support and consistent reporting of criminal or dangerous incidents. Many executives have noticed the adaptation of the culture since Dara Khosrowshahi replaced Travis Kalanick last August. Uber’s Laurel Powers-Freeling states,…

Nail firm hammered by tariffs Mid-Continent Nail has struggled significantly ever since President Trump imposed a 25% tariff on aluminum and steel. Because of the tariff, the company had to hike up prices; consequently, nail sales have dropped 50%. Last week, Mid-Continent laid off 12% of its employees. According to the company, they will be bankrupt by early September if they must still face the tariffs. And they aren’t the only ones – Mid-Continent is one of roughly 21,000 companies that have requested tariff exemptions from the Commerce Department. Commerce Secretary Wilbur Ross responded to their plea, I’m not belittling…

Trade war traumatizes traders The recent tariffs have certainly lowered investor confidence, but the recent ambiguity over a potential block on China’s investments in US tech firms really worried investors. Recent reports have shown that President Trump will block Chinese companies from acquiring US technology firms and also restrain American companies from selling their tech to China. And although a trade official recently stated that these would likely not be as serious as one might think, investors are still growing apprehensive. Weary investors sold their stocks rapidly, which dropped the Dow 500 points on Monday – by the end of…

Can food manufacturers survive? Campbell Soup has been struggling recently as soup sales have dropped, but that could all change if Kraft Heinz acquires the company. After Kraft Heinz announced that their interest in Campbell Soup, Campbell’s (CPB) stock price jumped more than 9%. The merger would give both companies a competitive advantage they desperately need in the food industry. Further Kraft Heinz’s (KHC) stock has fallen nearly 29% in the past twelve months, and Campbell has fallen nearly 22%. The struggles stem largely from increased competition created by Amazon. The e-commerce giant has managed to slash prices significantly while…

AT&T acquires another company On Monday, AT&T announced that it will purchase programmatic advertising firm AppNexus for somewhere between $1.6 and $2 billion. AppNexus competes with companies like Google and Facebook, who also use their cloud computing software to best place ads for businesses. According to the company, they have roughly 34,000 publishers and 177,000 brands that use the ad marketplace to spread awareness of their various companies. The firm also uses advertising technology to track the performance of ads, similar to Google Analytics. The company will provide AT&T with a few assets. First, it gives them another way of…

AT&T hopes to combat Netflix AT&T announced on Thursday that they have created their own streaming service, WatchTV, through which consumers can stream CNN, TNT, and other channels. The streaming service is the first revealed project after the massive AT&T-Warner deal that closed two weeks ago. WatchTV will help the merged companies position itself against Netflix, which dominates the market and posts a net worth more than both companies. To start, AT&T will offer the service through its unlimited wireless phone plans for free. After evaluating its performance, it will likely unravel it as its own service that anyone can…

OPEC meeting filled with ambiguity OPEC nations met on Friday and agreed to increase crude oil production. Head of OPEC Suhail Mohammed Faraj Al Mazrouei announced that nations would begin producing at the maximum output as allowed by the 2016 agreement. Further, in 2016, OPEC nations voted to limit production to a certain amount so that they could keep prices at a decent level and limit an oversupply of oil. But after countries like Venezuela had oil outages, supply fell sharply and, consequently, prices rose dramatically. But after Friday, production is forecasted to increase by at least 600,000 barrels a…

Tesla seeks to improve customer experience Tesla will not be outsourcing their production or supplying the power of car design to any average Joe on the street, but they may create a new hands-on experience to their factory tours. Musk announced on Twitter that he will consider adding an option to the tour where factory-goers can assist in the production of certain parts in the manufacturing line. This would only occur for their own car so that other car buyers don’t think some pedestrian built their car, but it could offer some unique insight into what all goes into a…

Steel tariffs are showing promising economic growth In March, President Trump imposed a 25% tariff on imported steel, hoping to bolster US manufacturing. JSW Steel USA may finally be the saving grace to his policy, as it invests $500 million in a new US manufacturing plant. The Indian-owned company will not only invest half a billion dollars in the new factory, but it will also allocate another $500 million to revamp one of its old US factories in Baytown, Texas. The new factory will be an Acero Junction factory in Mingo Junction, Ohio, which it will acquire for nearly $81…

Disney raises the stakes The media-giant recently increased their bid to acquire 20th Century Fox, giving them the edge over Comcast to acquire the media giant. Disney originally locked in a bid of $52.4 billion for Fox, but after a judge approved the AT&T-Warner deal, Comcast rebutted with a $60 billion offer. After the ruling, the world anxiously awaited a bidding war between media-giant Disney and media-distributor Comcast – and sure enough, they did not disappoint. The most recent development in the battle for Fox came this week as Disney upped its offer to $71.3 billion. Additionally, an even split of…

Can MoviePass survive? In order to help its subsidiary survive, Helios and Matheson unraveled a $164 million bond sale for MoviePass. MoviePass, a company that allows customers to see a movie a day for just $10 a month, has struggled significantly since Helios and Matheson purchased it in 2017. Although MoviePass has three million customers, the company faces significant long-term dangers. Further, after its Q1 reporting, MoviePass revealed that it has roughly $15.5 million in cash and $28 million in bank deposits. However, its monthly expenses value at a steep $21.7 million, which has grown apprehension over the company’s sustainability.…

Don’t sleep on Gatorade Gatorade rolled out its first sugarless drink, Gatorade Zero, this week. The drink has no sugar nor carbs, yet it has most of the same flavors and similar prices as sugared Gatorade. The sports drink company has controlled the market for most of its 53-year life. According to Euromonitor International, the Pepsi subsidiary controls 75% of the sports drink market. Their dominance stems largely from its marketing campaigns. Further, its “Be Like Mike” campaign, featuring incredibly popular basketball player Michael Jordan, expanded the popularity of the drink. Additionally, coach Gatorade showers have increased in sports like…

We’re live with IGTV Social media platform Instagram announced on Wednesday that it will unveil a new application, IGTV, that allows users to produce longer, 4K videos. Currently, Instagram only allows its users to produce 60-second videos – this new app puts it in the same ballpark as YouTube and far past Snapchat. IGTV gives content creators another platform to showcase their talent, whatever it may be. The platform will have its own app but will also be integrated into the original Instagram app. Users’ current followers will transfer over to the new section where they can view their videos;…

Fuji Xerox breakup could get messy Fujifilm will sue Xerox for $1 billion after the company pulled out of the agreed upon Fuji Xerox merger. The Japanese company’s lawsuit is based around the “punitive damages for Xerox’s intentional and egregious conduct” after canceling the deal, according to their district court’s filing. The deal would have given Fujifilm complete control over the combined companies, and the firm believes that Xerox denied them those benefits that were agreed upon. Xerox pulled out of the deal after major investors Carl Icahn and Darwin, who own a combined 15% of the company, convinced them…

Looming trade war troubles China China’s stock took a massive blow on Tuesday after President Trump amidst fear of a trade war with the United States. Over a thousand stocks fell by more than 10%, and the Shanghai Composite Index dropped below 3,000 – its lowest point since 2016. Following confirmation of President Trump’s announcement that the US will impose tariffs on $50 billion worth of China’s goods, China announced that it would impose its own tariffs on the same amount of US goods. After this, Trump fired back, stating that if China were to retaliate, the US would impose…

GE faces the end of an era On Tuesday, the S&P Dow announced that Walgreens Boots Alliance will replace General Electric in the Dow Jones Industrial Average, marking the first time in 110 years that the company will not be in the Dow. GE has encountered a whirlwind of hardships in recent years, including a mountain of debt, the replacement of its CEO, and the cut of thousands of jobs. In the past year, General Electric (GE) has seen its stock value plummet over 54%. After the Dow released the news, shares fell an additional 2% on Tuesday. In order…

Crypto hacks continue Cryptocurrency rates fell as South Korean crypto exchange firm Bithumb gets hacked on Wednesday – the second firm in a month to be breached. Bithumb reported on Wednesday that hackers stole roughly 35 won ($32 million) in cryptocurrencies, with the majority being Ripple. After the breach, the company froze all cryptocurrency deposits and withdrawals to better investigate the source of the hack. Additionally, Bithumb announced that it will compensate all victims of the hack and move all assets to a more secure offline account. After the announcement of the security breach, Bitcoin’s value dropped 2%, bringing its…

Microsoft facing workforce turmoil This week, the US Immigration and Customs Enforcement (ICE) has created controversy over its separation of families at the border and confinement of children in cages. News also surfaced that Microsoft has ties to ICE and may be indirectly assisting them with these efforts, much to the frustration of its employees. The company’s partnership with ICE has never been private news, as they announced it in January; however, because of the size of the company, the news may have slipped through the cracks with many Microsoft employees. Now, because of recent chatter of ICE’s controversial practices,…

Trump tariffs trigger trade war This Monday, President Trump stated that he will impose a 10% tariff on $200 billion worth of Chinese goods. On Friday, the president announced that he will impose a 25% tariff on $50 billion worth of Chinese goods. The same day, the Chinese government reported that it would retaliate against these tariffs by imposing its own tariff on $50 billion worth of US goods. Moreover, this would include agricultural goods, cars, seafood, and more. Trump defends the escalation by asserting that China continues to put the US in an unfavorable trade position. He states, China…

Google hoping to gain an edge in the e-commerce industry In an attempt to grow its e-commerce arm and combat giants like Amazon and Alibaba, Google and JD.com announced that they will create a partnership. Google announced that it will invest $550 million in the Chinese e-commerce firm. The partnership will combine Google’s technological advancements with JD’s knowledge of supply chain management. Moreover, as part of the deal, JD announced that it “plans to make a selection of high-quality products available for sale through Google Shopping in multiple regions.” However, the deal will not give Google access to Chinese markets,…

Does anyone trust Huawei? Following cybersecurity concerns, Chinese smartphone manufacturer Huawei is seeking to regain the trust of the Australian government. Australia’s government officials are currently deciding which smartphones are safe to use as the 5G smartphone network is being created. Back in 2012, Australia excluded the Chinese tech firm from their National Broadband Network after an investigation by the Australian Security Intelligence Organisation. In fact, reports from the government show that Australia will almost certainly exclude Huawei from their 5G network. The cybersecurity concerns stem from the manufacturers’ close relationship with the Chinese government. Moreover, the country passed a…

Slow and steady wins the race, right? Tesla announced on Saturday that it is finally producing 3,500 Model 3’s a week – a figure that comes closer to their original 2017 goal of 5,000 per week. Electrek received the news in an e-mail from Elon Musk, who stated that the company was making over 500 models a day. In fact, some parts of the assembly line have reached 700 units per day. However, Musk and his team still have a long way to go before they meet their previous end-of-2017 goal (and now end-of-July goal) of 5,000 units per week. Musk…

No rain dance necessary US company Weather Modification International has capabilities of making it rain in certain areas. They use a technique called cloud-seeding, where planes target specific clouds to extract more rain from them. Pilots travel to specific clouds with moisture in them and inject a silver iodide chemical into the clouds. The rain then compacts, becoming heavier, which causes it to plummet to the ground easier and in heavier doses. However, if a cloud contains no water, then WMI cannot create water – cloud seeding only works with clouds that have moisture already. WMI has been around since…

Disney bounces back from “Solo” disappointment The highly anticipated sequel to the 2004 animated film “Incredibles” dominated in the box office weekend, raking in $183.2 million domestically. This figure eclipsed “Finding Dory,” another sequel to a popular Pixar movie, by almost $50 million. In fact, the movie breached into the top ten box office opening weekends of all time, falling at number eight. It more than doubled its prequel’s opening, which made just $70 million. Additionally, Disney needed this box office victory after “Solo” disappointed in its debut. The Star Wars film generated just $80 million in its box office…

Apple trying desperately to catch up to Netflix and Amazon Apple announced Friday that Oprah Winfrey has signed a multiyear deal to create original content for the tech giant. The deal gives Apple a special weapon to hopefully help the company compete with content creators like Netflix and Amazon, which continue to pour billions of dollars into original content. In fact, this sort of deal is no new concept, as the Obamas recently signed a multiyear contract with Netflix. The media giant also recently rolled out an original show starring David Letterman. Netflix and Amazon have set a high bar…

Royal just became more luxurious On Thursday, Royal Caribbean Cruises announced its purchase of privately-owned Silversea Cruises. The deal is worth roughly $2 billion and will give Royal Caribbean a 66.7% stake in Silversea. Royal has stated that it will finance the acquisition through debt. Additionally, Silversea Chairman Manfredi Lefebvre d’Ovidiowill acquire 470,000 shares of Royal (RCL), which has a total value of $53 million as of Friday. Indeed, after the announcement on Thursday, Royal’s stock price jumped 5%. The deal will give Royal Caribbean a new fleet of high-luxury cruise ships. Moreover, Royal has certain high-end options, like their…

The US, Saudi Arabia, and Russia may be coming to an agreement Every automobile driver in the US knows that gas and oil prices are through the roof these days. A gallon of oil costs $67 today, compared to just $30 in 2014. Why is this the case, and what are countries doing to change that fact? According to President Trump, the Organization of the Petroleum Exporting Countries (OPEC) is to blame, and he could be right. OPEC cut down on oil supply in early 2017 so they can charge higher prices. For example, Iran wants to invest more money…

Philanthropic pizza paving potholes In an attempt to help the fate of their customers’ pizza and the face of their company’s brand, Domino’s will fund the fixation of potholes in chosen cities. Anyone with access to the Internet can nominate their city; all one needs to do is put in their zip-code and e-mail address. Domino’s will then select various companies that they think need the most help and fix them. Already, they have fixed over 200 potholes in cities like Burbank, CA, Bartonville, TX, Milford, DE, and Athens, GA. This business decision is absolutely brilliant for the pizza-chain. First,…

Toyota grabs Grab Japanese car manufacturer Toyota announced on Wednesday that it will invest $1 billion in Singapore-based ride-hailing firm Grab. Although many people attribute ride-hailing and ride-sharing with companies like Uber and Lyft, Grab has made a name for itself in Asia. In fact, the company bought out Uber’s Southeast Asia back in March, making Grab the major player in the region. After the investment, Grab is worth $10 billion, and it will use this new money to develop its food delivery service (similar to Uber Eats) and mobile payment platform. The deal will also significantly help Toyota expand.…

SpinLaunch plans to do just that — launch a rocket from electric spinning Silicon Valley startup SpinLaunch announced on Thursday that it will launch a rocket into space without the use of fossil fuels – a feat that has never been accomplished. The company claims that it will have its first launch in 2022. Fossil fuels cost aerospace companies hundreds of thousands of dollars for just one launch. So how does SpinLaunch plan on pulling this off? The details are a bit hazy, as they have not released a detailed report of their technology, but they stated that they can…

Could California ever split into thirds? Silicon Valley investor Tim Draper recently proposed a division of California into three regions: Northern California, Southern California, and California. The crazy part is: it could actually appear on the ballot in November. The proposal received over 400,000 signatures, due primarily to the financial support of Draper, who invested in Hotmail, Skype, and Tesla early on, making hundreds of millions of dollars. If California voters approve the motion, it will move to California state legislature, and after that, to Congress. Hence, the approval of this bill is unlikely, but it is an interesting concept.…

It’s a great day for Discover employees Discover will follow the lead of Walmart and various other companies, offering its employees a scholarship pursuing a degree related to business or computer science. According to Discover, the scholarship is available for seven different majors and will cover tuition and fees, books, and supplies. 99% of workers will be eligible – the 1% includes employees that work less than 30 hours per week. Even new hires are eligible on their first day of employment. Walmart, McDonald’s and other large corporations recently unraveled similar scholarships. In fact, according to a survey by the…

What sounds better: Comcast-Fox or Disney-Fox? After a judge’s approval of the AT&T-Warner acquisition, media players can now move forward with highly anticipated mergers of their own. Namely, Disney and Comcast will fight like siblings over 21st Century Fox. The firms have both targeted Fox for similar reasons that AT&T purchased Time Warner Cable. If either company acquires Fox, they will have rights to their profitable TV channels like FX and films such as “Avatar” and “X-Men.” This will allow them to compete with Netflix, which recently eclipsed Disney in market value. However, the AT&T-Warner ruling does not ensure anything for…

AT&T-Warner trumps lawsuit On Tuesday, Judge Richard Leon approved AT&T’s acquisition of Time Warner Cable – a deal worth $85 billion, one of the biggest acquisitions in the 2000s. The acquisition created a massive six-week antitrust trial, as AT&T’s massive satellite and phone networks will now have access to brands like Warner Bros., CNN, and HBO. Essentially, this acquisition will make AT&T the king of the media. The Justice Department filed the antitrust lawsuit in November 2017, arguing that the acquisition would severely mitigate competition and raise prices for consumers. However, Leon determined that the government failed to prove that…

ZTE takes 1-2 punch in last week On Wednesday, tech firm ZTE resumed trading for the first time in eight weeks after the US Commerce Department issued a ban on all domestic exports to the company. Moreover, the US government banned American companies from trading their supplies to the Chinese tech company because ZTE ignored sanctions on North Korea and Iran. After a $1.4 billion settlement and an agreement to overhaul their entire management, ZTE will no longer be banned (pending any further action from the White House). However, ZTE is far from recovery from this settlement. Indeed, their stock…

Citron bets on Fitbit Wearable technology company Fitbit saw its stock rise 15% on Monday after praise from short-seller Citron Research. The firm, which recently forecasted Snapchat’s turnaround, reported that Fitbit’s stock price could increase by more than 200% in 2018. The analysts argue that their value stems from the health care initiatives that Fitbit offers. These programs include a glucose-monitoring partnership with DexCom Inc., an employee wellness partnership with UnitedHealthCare, and a cloud partnership with Google. They explain, What was once a piñata for short sellers (since IPO) has transformed itself to one of the most under-appreciated med-tech stories…

AMEX shows it’s not all about the money American Express announced Monday that it will soon offer a credit card manufactured from plastic trash recycled from the Earth’s oceans. Although the movement will not do much to remove plastic from the ocean, it will create awareness about the general public’s effect on the environment. According to environmental advocacy group Ocean Conservancy, the ocean contains 150 million metric tons (!!!) of plastic, and this figure rises by 8 million tons annually. Additionally, 60% of seabirds and 100% of sea-turtle species contain plastic due to their misjudgment of floating plastic as food.…

When will cryptocurrencies be regulated? Korea-based cryptocurrency exchange firm Coinrail got hacked on Sunday, losing $40 million in altcoins – coins that aren’t Bitcoin or Ethereum. Unfortunately for crypto investors, the coins were not stolen from the company itself; instead, they were taken directly from the investors. According to TechCrunch, this included $19.5 million of NPXS tokens from the Pundi X Initial Coin Offering, $13.8 million tokens from the Aston X project, $5.8 million from mobile data ICO Dent, and $1.1 million from another China-based project Tron. Coinrail has launched an intensive investigation against the hackers, involving the Korean Police.…

International House of Burgers Last week, breakfast chain IHOP (International House of Pancakes) rolled out a bizarre yet effective marketing campaign where they changed their name to IHOb on social media. The move got many social media users chattering about what the “b” would stand for. Some guessed “breakfast” or “bacon,” and some clever consumers thought it was a way to reintroduce their upside-down pineapple pancakes. On Monday, the chain put a halt to all of the guesses and finally revealed the answer: the “b” stands for “burgers.” They are not officially changing their name, but president Darren Rebelez wanted…

Trust the Process, Sixers After an investigation about owning and running multiple anonymous Twitter accounts, 76ers president Bryan Colangelo announced his resignation on Thursday. The Ringer opened the investigation over the president after seeing multiple accounts such as Eric jr and Honest Abe post sensitive information about the NBA team. However, in the end, investigators found that Bryan Colangelo did not run these accounts; indeed, his wife Barbara Bottini ran them. The investigation team stated that Colangelo was still to blame for the information dispersed on the Internet, explaining, We believe that Mr. Colangelo was careless and in some instances…

KFC takes the healthy route KFC announced on Friday that it will explore vegetarian options to chicken in their United Kingdom stores, hoping to roll them out next year. The menu-change stems from a long-term goal of delivering healthier options to customers. In fact, KFC announced that it hopes to reduce calories per serving by 20% by 2025. A company spokesperson said this about the deal: We always look to respond to the latest changes in lifestyle and dining habits of our customers…That’s why we’re looking into vegetarian options. The decision also follows in line with the UK’s adjusted health…

Social media and tech firms are in hot water Senator Mark Warner reported on Thursday that his office sent a letter to Alphabet to inquire about its relationship with Chinese technology firms like Huawei, the world’s third largest smartphone manufacturer. Twitter and Facebook will also be investigated. According to CNNMoney, the Senate Intelligence Committee will ask Mark Zuckerberg, Jack Dorsey, and Larry Page about their data-sharing policies with these firms. Even before this investigation, intelligence officials viewed Huawei as a privacy threat. In fact, the FBI, CIA, and NSA have all stated that US consumers should not buy smartphones from…

Don’t sleep on crypto The cryptocurrency exchange company Coinbase reported on Wednesday that it has bought three companies that will allow it to soon become a fully-regulated company. In one deal, its parent company Key Acquisition purchased financial tech firms Keystone Capital, Venovate Marketplace, and Digital Wealth. The acquisition of these companies gives Coinbase “a broker-dealer license, an alternative trading system license, and a registered investment advisor license,” according to Business Insider. These licenses will likely help Coinbase add more types of coins to its arsenal. Currently, Coinbase only trades bitcoin, bitcoin cash, ethereum, and litecoin. In contrast, competitors like…

Is meditation the new medication? Headspace is a mindfulness and meditation app in which users can listen to meditation sessions and sounds anytime and anywhere. The London-based company was founded in just 2010, yet it already has 30 million users and is worth $250 million. And the executives have nothing but expansion in mind. On Wednesday, the company announced that the creation of a subsidiary called Headspace Health, which will unravel prescription-level meditation techniques and practices. Chief science officer Megan Jones Bell told Business Insider that the company will begin clinical trials this summer, aiming to acquire FDA approval on…

Controversial tariffs not making waves yet The Commerce Department announced on Wednesday that the trade deficit dropped 2.1% in April, making the month’s deficit $46.2 billion. This figure is down 2.1% month-to-month, with March’s deficit valuing at $47.2 billion. Both an increase in exports and decrease in imports accounted for the deficit fall. Moreover, exports rose 0.3% to $211.2 billion in the month. The US exported a five-year high in domestically produced petroleum in the month, and the country also saw increases in corn exports. Additionally, imports decreased in April, falling 0.2% to $257.4 billion. In fact, the trade deficit…

Don’t try to bring your hedgehog on the plane anymore JetBlue announced on Tuesday that it will tighten its policy on animals whom passengers bring for emotional diseases like PTSD, depression, or severe anxiety. Originally, these animals were accepted with a small application and no charge, but that is no longer the case. After July 1, passengers must fill out an application 48 hours before their flight. The application includes a note from a doctor that the patient needs the animal for psychiatric reasons, the pet’s health form from a veterinarian, and a liability form which states that they are…

Will there be a new super-bank in town? The Financial Times reported on Tuesday that two of Europe’s largest commercial banks could potentially merge soon. Italy’s UniCredit hopes to acquire Societe Generale in one of the biggest bank acquisitions of all time. However, a deal is far from definitive. UniCredit did not comment on the Financial Times report, and Societe Generale actually denied any discussion of a merger with the Italian bank. But if the companies do merge, their combined assets would value roughly $2.5 trillion, based on their 2017 reports. This figure would put them in the same ballpark as…

Shareholders restore confidence in Musk (for now) In an annual shareholder meeting on Tuesday, Tesla shareholders voted to keep Elon Musk as chairman of the board. Shareholders brought the vote to the table following a struggling 2018 for the company. Tesla has struggled to meet production expectations for the Model 3, leaving thousands of buyers waiting for their car. In addition to this, the company has also faced allegations of dangerous working conditions, discrimination, and safety investigations. Shareholder Jing Zhao brought up the proposal and commented this: Although the current leadership structure, in which the positions of Chairman and CEO…

Let the trade war begin Following President Trump’s imposed tariffs on international aluminum and steel, the US neighbor is firing back with their own tariffs. Mexico announced on Wednesday that the country would impose a 10% tariff on US pork, which will increase to 20% by early July. This tariff will significantly impact both US pork farmers and the US economy, as Mexico is the second largest importer of US pork. In fact, domestic pork farmers could lose up to $360 million each year. Additionally, according to government reports, Mexico imported 650,000 metric tons of US pork in 2017, worth…

Is President Schultz in America’s future? Howard Schultz, the CEO of Starbucks from 1986-2000 and 2008-2017, as well as its executive chairman since then, announced his stepping down on Monday. Schultz has had rumors of a presidential run surrounding his name for years, and he has even hinted at his interest in the position. While he hasn’t deliberately stated his decision, he has reported that he will weigh his options and determine a way he can best give back to the community. When asked about a potential public office role, he admitted that it would be in consideration. The now…

One step forward, two steps back for Facebook The New York Times reported Sunday that Facebook has partnerships with phone manufacturers like Apple, Microsoft, and Samsung that allow the companies to access user data. This includes information about education, work history, relationship status, political views, and religion. Phone manufacturers can then use this information to best tailor their phones to consumers. And while this doesn’t seem particularly unethical, it is just another example of Facebook users’ lack of privacy. Nonetheless, Facebook defended its reputation against the report. The social media giant claimed that the partnerships were valid, but they only…

Don’t sleep on Twitter Five years after its initial public offering, Twitter will join the S&P 500. Twitter will replace Monsanto as the latest company in the S&P 500, a stock market listing of the largest companies traded on the NYSE. Bayer will buy seed and pesticide firm Monsanto for $65 billion on Thursday. Bayer announced that they will be replacing the Monsanto name with Bayer’s, so it will no longer be eligible for the S&P 500 as its own brand. The social media firm has seen its share value rise in the past twelve months, rising almost 108% since…

iOS 12 is revealed In the 2018 World Wide Development Conference, CEO Tim Cook announced the latest and greatest upcoming developments to Apple’s iPhone, iPad, Mac, and Apple Watch. The conference centered around iOS 12, its next operating system, and the features it contains. Here are some more details on what’s to come for Apple consumers: First, the operating system will feature new methods to track phone usage. Apple shareholders wrote to the tech firm a few months ago to express their concerns about phone addiction and its effect on mental health. Cook heard their concerns, and in order to…

There’s about to be a new monopoly in town German pharmaceutical company Bayer launched a cash call for 6 billion euros ($7 billion) to finance the acquisition of seed and pesticide manufacturer Monsanto. The deal estimates at around $62.5 billion (!!!). Last week, Bayer received approval from the US for the acquisition, which was one of their biggest hurdles. Although this deal will create the largest pesticide company in the world by an enormous margin, the Department of Justice did not deem the deal as violating any antitrust laws. And although the cash call won’t be enough to secure the…

Microsoft-GitHub acquisition quid pro quo Microsoft will acquire software development platform GitHub. Originally, they considered a joint marketing campaign worth just $35 million, but discussions had reached investment and/or acquisition last week. And on Monday, the tech giant announced that it would buy GitHub for $7.5 billion. This will be Microsoft’s second-largest acquisition, following its purchase of LinkedIn for $26 billion. Reports previously showed that GitHub was valued at $2 billion and their asking price would be around $5 billion; needless to say, they cashed out on Monday. GitHub hosts 23 million users, who use the platform to store and…

Unlike a Snapchat picture, the company may not be disappearing Snapchat (SNAP) has been heavily scrutinized since it had its IPO in March 2017, just over a year ago. Since then, its shares have fallen 57% and have seen no signs of coming back up. However, this week, shares are back up 8%. This sudden spike stems largely from short-seller Andrew Left of Citron Research. Left likes Snap Inc., he reported earlier this week, and he doesn’t plan on shorting it. And although he does admit that he has profited from shorting it in the past, after its most recent…

Google avoids PR damage Google announced on Friday that it will not renew its contract with the Department of Defense, for which it analyzed drone footage. The project, called Project Maven, was a public relations nightmare for Google. Many people criticized Google for the unethical use and support of artificial intelligence. Consequently, their contract will end in 2019 without renewal. Plus, not only was the work controversial, but the way they portrayed its significance was too. After many Google employees petitioned the company to discontinue the project and some others resigned, Google executives reported that it was an insignificant project…

Good news for people looking for jobs The unemployment continues to fall, reaching 3.8% in May. This is the lowest percentage since April 2000. Businesses continue to employ more workers, with job openings posting at record-highs. In fact, the year-over-year difference in job creation has even improved in 2018. This year, the US economy has added an average of 207,000 jobs monthly, compared to 182,000 in 2017. Plus, businesses have added more jobs monthly for almost eight years, which sets a new record. Additionally, unemployment among black citizens reached an all-time low in May. It is now 5.9%, the lowest…

Make way for an Amazon-Aussie standoff Starting on July 1st, Australian consumers will face more restrictions from e-commerce giant Amazon. Consumers in Australia will no longer be able to purchase goods from Amazon’s international website (the one that most consumers are used to). They will now only be able to use Australia’s domestic Amazon site. Additionally, Australian consumers will be unable to order items with same-day delivery. The policy shift stems from Australia’s goods and services tax, which requires Amazon to eat a 10% tax on all overseas purchases. Further, the tax previously applied to goods worth over 1,000 Australian…

Samsonite has some new baggage Luggage manufacturer Samsonite lost its CEO Ramesh Tainwala on Friday. The announcement came after short-seller Blue Orca Capital accused him of false educational background claims on his resume. Moreover, Tainwala claimed that he had a doctorate in business administration on his resume, which Blue Orca Capital challenged. Tainwala joked with the press, stating that his friends called him a “doctor” even though he wasn’t – but according to him, he never claimed he had a doctorate degree. However, his “Dr. Tainwala” title was clearly published in SEC filings, company materials, and Bloomberg’s website. The short-seller…

The cards are not in Vegas’s hands The unionized casino workers of Las Vegas will go on strike this week or the following. According to the union, the two most popular casinos, MGM Resorts International and Caesars Entertainment, could lose $10 million a day. The casinos would lose a combined estimate of 50,000 workers, forcing them to hire replacement staff that has less experience. The union writes, “One might assume a 10 percent worsening of operating margins due to the use of less experienced and less skilled replacements…to keep the doors open, rooms cleaned, food cooked, and cocktails served, not…

Italy potentially faces turmoil On Wednesday, Italy sold €5.6 billion ($6.5 billion) of debt. The breakdown looked like this: €1.75 billion of five-year bonds, €2 billion of seven-year bonds, and €1.8 billion of ten-year bonds. However, unfortunately for investors, yields rose significantly on Wednesday from the previous auction, meaning the bonds have a higher risk premium. For example, Italy paid a 2.3% yield to sell the five-year bond, compared to 0.6% at the last auction. Moreover, Italian bonds have skyrocketed recently. On Tuesday, bond yields rose to 3.008%, and Citi Bank analysts predict that this number could reach as high…

All aboard the self-driving bandwagon GM and Softbank are the most recent firms to invest in self-driving cars. Japanese holding company Softbank announced its investment of $2.25 billion into GM’s self-driving development. In December, the firm purchased a 15% stake in Uber, who is also testing self-driving functionalities. GM will follow suit, investing $1.1 billion in the same joint project, called GM Cruise. They plan on rolling out self-driving cars as soon as next year. In a record-high partnership to develop self-driving technology, Softbank will own 20% in the joint venture, pledging $900 million now and the other $1.35 billion…

Uber misses out on Buffett’s investment When Warren Buffett invests in or even comments on a company, every investor takes notice. Indeed, he has the ability to send shares skyrocketing solely because he is confident in it. Further, when he announced that he bought 75 million shares of Apple (AAPL) in the first few months of the year, Apple’s shares rose 4% and closed at an all-time high. Similarly, when he invested $358 million in generic drug manufacturer Teva Pharmaceutical (TEVA), its stock price rose 7%. Plus, investors don’t just only follow Buffett’s investments; they also follow his sales. Buffett…

Today is a good day for Walmart workers The company announced Wednesday that any worker that pursues an associate’s or bachelor’s degree in business or supply chain management will receive a scholarship. Employees will have to pay $1 per day for their education, and Walmart will cover the rest – tuition, fees, and books. The scholarship will be available to all employees – part-time, full-time, and salaried – after they work for the company for 90 days. Additionally, Walmart will partner with Guild Education, who will help employees apply to one of the three eligible colleges: University of Florida, Brandman…

Canada creates controversy with their pipeline purchase Canadian Prime Minister Justin Trudeau announced the country will buy a 715-foot oil pipeline for 4.5 billion Canadian dollars ($3.5 billion). This project will increase oil capacity to 890,000 barrels of oil per day. Trudeau tweeted this about the expansion deal: “Today, we’ve taken action to create & protect jobs in Alberta and BC, and restart construction on the TMX pipeline expansion, a vital project in the national interest.” The expansion of the pipeline will help Canada export oil to Asia, as it stretches from Edmond, Alberta to Vancouver, on the coast of…

The technology firm’s market value surpassed Google parent Alphabet on Tuesday Microsoft (MSFT) shares have increased by 15% since the beginning of 2018 and nearly 41% in the past year. Contrarily, Alphabet (GOOGL) has increased by just .3% in 2018 and 8% in twelve months. At the end of Tuesday, Microsoft was valued at $749 billion, whereas Alphabet lied at $739 billion. This surge in shares stems largely from the growth of Microsoft’s cloud computing software. Although it still has not become as popular as Amazon Web Services, it is more popular than Google’s. Tuesday marked the first time since…

Can MoviePass survive? MoviePass, the monthly movie ticket-subscription service, will start its own film distribution branch called MoviePass Ventures this year. This announcement occurred at the Sundance Film Festival in January, where the company also stated it was working with The Orchard to gain rights to a film called “American Animals.” The film was one of the most highly revered at the festival — it features a group of friends attempting a heist. It is now nearly the end of May, and “American Animals” is set to drop on June 1st– just a couple days from now. The film is…

Is there a trade war in the US’s future? The Trump administration announced it will impose a 25% tariff on $50 billion worth of Chinese goods this Tuesday. The list of goods is yet to be announced, but if rumors hold, this could include automobiles. The list of imports will be released on June 15th. However, that is not the only facet of the proposal. The White House will also limit Chinese investments on US technology firms. A more detailed report of this policy will arrive June 30th. Likely, this means that the US will not lift its ban on…

SoulCycle will stay privately-owned The indoor cycling company will suspend its IPO for now “due to market conditions.” The firm filed paperwork with the SEC in 2015, and it is now pumping the brakes. Originally, SoulCycle hoped to raise $100 million in its IPO to help pay off debt and open more SoulCycle locations. However, the CEO recently told CNNMoney that they did not need the IPO to pursue its long-term goals. Indeed, they have enough private shareholders to be able to continue their vision. It’s reasoning behind the change in mind is the increasing competition in a small market.…

The European Commission is planning a complete overhaul of its environmental policy The European Commission’s first order of business is the ban on ten plastic items that create waste in European waters. According to them, these ten items account for 70% of litter in EU waters. In addition, it wants manufacturers of plastic products to pay for the large majority of waste cleanup. The Commission also wants the EU to implement new recycling efforts – their goal is to collect 90% of plastic water bottles by 2025. These new policies will cost producers over €3 billion annually, but it will…

Tencent and Alibaba make the top 10 China has two firms in the BrandZ top ten most valuable global companies for the first time in history. The list looks like this: Google Apple Amazon Microsoft Tencent Facebook Visa McDonald’s Alibaba AT&T Alibaba is China’s newcomer to the list, joining Tencent in the top 10 for the first time. The e-commerce firm, which has often been seen as China’s Amazon, has doubled its brand value in a year. After a brand value of $59 billion in 2017 (ranked at #13 globally), it is now worth $113 billion. This largely stems from…

Shareholders have the tax cut to thank for recent returns The Tax Cuts and Jobs Act, the biggest tax cut in over 30 years, has allowed S&P 500 companies to give back to their shareholders. The cut, which decreased corporate income tax from 35 to 21 percent, allowed for increased stock buybacks and dividends, supplying shareholders with $1 trillion in the twelve months. Moreover, according to Dow analyst Howard Silverblatt, these figures were $428 billion in dividends and $573 billion in buybacks. Just a year prior, these numbers totaled just $939 billion; that is, the tax cut accounted for a…

“Solo” box office sales struggled during liftoff The prequel story of Han Solo, a main character played by Harrison Ford in the Star Wars films, disappointed in its opening weekend. On Tuesday, box office projections anticipated the Disney and Lucasfilm movie to rake in between $130 and $150 million in domestic sales. On Friday, this was adjusted to somewhere between $105 and $115. Yet “Solo” still fell short, making an estimated $101 million domestically and $148 million globally thus far. This figure gives the film the weakest Star Wars box office opening since “Episode II: Attack of the Clones” in…

Foot Locker is on the up-and-up, but will it be long-term? The apparel and shoe store saw its shares boost on Friday, after exceeding earnings expectations. Moreover, Wall Street anticipated earnings per share of $1.25. Foot Locker eclipsed this figure by reporting a $1.45 EPS in the first quarter. It also reported $1.9 billion in sales, which also exceeded expectations. Because of these reports, Foot Locker (FL) shares rose 20% on Friday. However, Foot Locker still isn’t thriving. Its Q1 revenue is 1.4% lower than 2017’s first quarter. Even after the Friday jump, Foot Locker shares are still down 25%…

Can Qualcomm-NXP get past China-US trade disputes? Eight of nine global antitrust regulators have given the nod of approval for Qualcomm’s acquisition of NXP Semiconductors NV. The only one that Qualcomm still needs to win over is China, with which it plans to meet this week. Qualcomm hopes to acquire the company for $44 billion to diversify the company past a slowing smartphone market. The deal is expected to clear, but only under certain conditions. People close to the deal have reported that Chinese regulators will only accept the deal if President Trump lifts the seven-year US ban on Chinese…

Can anyone keep up with Amazon? Amazon, which seems unstoppable as a retail giant, continues to grow daily. Brick-and-mortar stores like Walmart and Target are the closest competitors, and even they are struggling to keep up. Walmart, Target, and Kroger are implementing any and all strategies to stop the e-commerce giant. They have raised their minimum wages and benefits to retain employees, they have lowered their prices, and they have even redesigned stores to even better tailor to consumers’ shopping behavior. In addition, they are pouring seemingly endless amounts of money into mergers and acquisitions. Further, Target bought grocery startup…

Congress reaches bipartisan agreement on bank regulations On Thursday, President Trump rolled back regulations on small- and mid-size banks. The Obama administration signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (abbreviated as Dodd-Frank) to increase financial stability after the 2007-2008 financial crisis. Dodd-Frank was successful in stabilizing the economy, but critics believed that it halted economic growth. The rollback on the bill passed in both the House of Representatives and Senate with bipartisan support. President Trump stated in a press conference that this bipartisan agreement is key for politics. He stated, “Let’s do more of it.” Moreover, the…

Uber is taking flight In its first research and development facility outside North America, Uber will build a center in Paris, France. Uber plans to invest $23 million in an electric takeoff and landing aircraft in France. The company hopes to unravel the technology by 2023. Uber believes that this technology is the way of the future; investing in air taxis will save their company in ten years, as many aerospace firms are already developing similar technologies. Airbus, for example, plans to develop a flying taxi, and startup Kitty Hawk has already released a prototype of one hovering above water.…

Imported car tariffs may be in the near future President Trump’s most recent tariff idea after the aluminum and steel tariffs is on imported automobiles. Trump has stated that he would consider as high as a 25% tariff on all imported cars. Similar to the aluminum and steel tariffs, the President will launch a Section 232 investigation, in which he tries to determine if the imports harm national security. Only if it passes this protocol can he impose the tariff. It seems difficult to believe that imported cars harm national security, especially when they make car prices cheaper for consumers.…

Netflix is king of the media As of Thursday, Netflix is worth more than Disney and Comcast. Netflix (NFLX) rose to $153.1 billion in market value, and Disney’s (DIS) fell to $152 billion. As of Wednesday, Comcast (CMCSA) is valued at $145.5 billion. Netflix is also worth more than Time Warner, 21stCentury Fox, CBS, and Viacom, the other major players in the industry. The only media and telecom firms it has yet to eclipse are AT&T and Verizon, which are both evaluated at roughly $200 billion. The media giant has proved that investing in its own original content with shoes…

M&A are here to stay If you’ve been keeping up with the news recently, you may be thinking, “Wow, it seems like there are a lot of mergers happening.” If that is the case, you are correct. In a little under half a year, companies have spent over $2 trillion in deals. Firms are on pace to top the record-high $4.7 trillion spent on deals in 2015. Here are a few examples that have sparked this monstrous number: Sprint and T-Mobile merged for $26 billion, Cigna is buying Express Scripts for $67 billion, Keurig Green Mountain acquired Dr. Pepper Snapple…

Facebook will collect Social Security numbers for political ads Facebook announced last week that it will require the last four digits of a Social Security number, a US address, and a government-issued ID from anyone who wants to run a political advertisement. After Facebook verifies the submitter’s information, Facebook will send a verification code, which the submitter can enter to upload their political ad. This strategy stems primarily from a disruptive campaign by a Russian government-linked group that bought thousands of ads to sway users in the 2016 presidential election. According to Facebook, eleven million people saw the ads purchased…

Consumers are reluctant to trust autonomous vehicles With the recent increase in self-driving car crashes, players in the industry may have to dial back production. Back in March, a Tesla Model X in autopilot mode crashed into a median in Mountain View, California, which killed the driver. After this announcement, Tesla suspended its research and development of self-driving technology. On Wednesday, a self-driving Uber testing in Tempe, Arizona fatally crashed into a pedestrian. In response to this accident, Uber announced that it will halt its self-driving ventures in Arizona indefinitely. The incident marked the first time a self-driving car killed…

Consumer Reports dings Model 3 The Model 3 has already been struggling to meet production goals, but the problems stretch further than that. After Consumer Reports tested the Model 3, they reported many issues with the vehicle, stating that they cannot recommend it. Its overall performance, they stated, was impressive, but it had many minute problems that add up. For example, the car cannot break as quickly as a heavier truck like the Ford F-150, for example, which is mind-boggling. Although Tesla claimed it only needed 133 feet to brake from sixty to zero miles per hour, the tests resulted…

Adobe enters e-commerce industry In order to compete against e-commerce giants Salesforce and Oracle, Adobe bought Magento for $1.68 billion on Monday. This is Adobe’s third-largest deal ever, and it is an important one in expanding their brand. Adobe announced on Monday that they hope to grow their e-commerce platform, creating an end-to-end system with online customer support. And Magento will allow it to do just that – it runs web stores, manages purchases, and fulfills shipping orders. Its biggest customers include Jaguar, Rosetta Stone, Coca-Cola, and Burger King. Additionally, investors seem elated by the news as well. After the…

There’s a new music publishing leader in town EMI Music Publishing owns the rights to over 2 million songs, including works by Kanye West, Alicia Keys, Queen, and Pharrell Williams. Sony’s own catalog already includes 2.3 million tracks, including work by the Beatles. This $2.3 billion acquisition will bump their portfolio up to 4.5 million songs, making them the largest music publisher. Sony had already owned a 30% stake in EMI, but this deal will bring that figure up to 90%, buying out Mubadala Investment Company’s stake. The final 10% is owned by The Jackson Estate. Comparing this to other…

ESPN’s growth of NBA content is a slam dunk ESPN, the self-titled worldwide leader in sports, has added more NBA content than any other sport. First, in “Detail,” Kobe Bryant targets and analyzes various players in the current NBA playoffs. His most recent production was about Celtics rookie phenomenon Jayson Tatum. Information about the popularity of the show is not yet available, but it has received increasing media attention. In fact, the feature of Jayson Tatum was addressed as a press question for Celtics head coach Brad Stevens. Secondly, an upcoming production is “Basketball: A Love Story,” a 63-part series…

A pioneer is slowly collapsing. The company’s 111-year old branch will come to a close, according to General Electric on Monday. GE will sell its rail business to rival Wabtech for an $11 billion acquisition. The deal will give shareholders roughly a 40% stake in the combined company, and GE will have a 9.9% stake, which they must unload over three years. By 2022, General Electric, one of the pioneers of the locomotive industry, will no longer be a player. This deal will create profits for both companies: combined, they will be a global leader in freight markets, generating roughly…

Barack and Michelle Obama are the newest creatives at Netflix The former President and First Lady will soon be adding “film-producer” to their resumes. Video streaming leader Netflix announced on Monday that Barack and Michelle Obama have signed a multiyear deal to produce original content. According to Netflix, this includes “scripted series, unscripted series, docu-series, documentaries, and features.” Many conservative Netflix-users have shown backlash to the deal, assuming that the Obamas will use the platform to push their own political agendas. Further, the Twitter world exploded after the news, and some consumers even threatened to cancel their Netflix subscriptions. This…

Coca-Cola still hoping to rebound from the struggling soft drink market You may know of the Coca-Cola Freestyle dispensers, in which you can choose from tens of different options of drink flavors. These options range from Vanilla Coke to Raspberry Sparkling Aquafina. On Friday, Coca-Cola announced their new Freestyle 9100 dispensers, to which consumers can connect through Bluetooth. The Freestyle app will allow consumers to choose their beverage before they walk up to the dispenser, creating more customizability and efficiency. According to Coca-Cola, “more than 50,000 Coca-Cola Freestyle units pour 14 million drinks per day.” This extraordinary number has come…

Model 3 production may be looking up for Tesla The original Model 3 costs roughly $35,000, and this weekend Elon Musk announced that this price will be more than doubled for the high-performance Model 3. So, what makes it worth more than double the price? According to Musk, the new Model 3 has a driving range of 310 miles and is able to go from 0 to 60 miles per hour in 3.5 seconds. Additionally, the new Model 3 will have a dual motor that makes it accelerate quicker and gain higher speeds. According to Musk, if one motor breaks,…

Starbucks shows its challengers why it is the leading coffee chain once again In the past, a consumer who wanted to go into Starbucks to hang out and talk with friends could only do so by purchasing food or a drink. As of Saturday, that is no longer the case. A few weeks ago, two black men, Rashon Nelson and Dante Robinson, went into a Philadelphia Starbucks and did not order anything; consequently, they were arrested. Clearly, this was a public relations nightmare for Starbucks, as a video of their arrest went viral. Many people threatened to boycott the coffee…

Denise Morrison steps down after seven years Denise Morrison, one of just 24 Fortune 500 female CEOs, announced her abrupt retirement on Friday. Neither Morrison nor Campbell gave any reasoning behind the sudden retirement, but the seven-year CEO will be missed. Keith McLoughlin, a board member of Campbell, will step in as interim CEO until next steps are determined. The decision likely stems from the pressure on Morrison to turn Campbell around, which has been struggling this year. Shares of Campbell (CPB) have decreased by 27% since the start of 2018. And while their earnings beat forecasts after their acquisition…

Don’t sleep on Tesla In an effort to encourage more people to buy a Tesla, Elon Musk plans to unveil thousands of new Superchargers this year. Tesla entered 2018 with 1,124 Supercharger stations and 9,721 individual Superchargers, and it has already added 121 in the first four months of the year, which is a lightning-quick pace. But if that weren’t already impressive enough, Musk stated on Twitter this week that Tesla has “thousands of Supercharger locations going through permitting/construction.” Musk could be exaggerating with this figure, but he’s usually a man of his word – and if he is telling…

Technology is finally approaching movie-level sophistication With the creation of the Nike MAG from Back to the Future, robots that complete tasks, and now interactive holograms, the world is gradually becoming many films’ portrayal of “the future.” The RED Hydrogen One will be releasing on Verizon and AT&T later this year, the company announced this week. According to RED, the smartphone will have a 3D projected display that can be viewed and interacted with without special glasses. Plus, the 3D display can be captured using cameras on the phone. If the device lives up to the hype surrounding it, it…

Mattel, Hasbro, and others must make changes in a changing industry With the fall of Toys “R” Us, toy manufacturers are seeing their profits plummet. Mattel – the toy manufacturer that owns Barbie and Fisher-Price – has seen its shares decrease rapidly over the past few years; compared to this time in 2018, their stock value has fallen almost 43%. Last year, Mattel lost $1.1 billion, and it’s lost $311 million in the first quarter of 2018. These losses come largely due to the bankruptcy of Toys “R” Us. The toy-selling franchise was one of the biggest movers of kids’…

Zoetis-Abaxis acquisition opens new doors for both companies On Wednesday, Zoetis – the largest animal health and service provider – announced its bid of Abaxis for $1.9 billion. Abaxis uses technology and diagnostics to predict and treat animal diseases like heartworm and Lyme disease. Diagnostics are becoming increasingly important in veterinarian health services, as (clearly) animals cannot attest to what problems they are having. In fact, MarketsandMarkets forecasts the animal diagnostic industry to grow from $2.3 billion in 2017 to $3.6 in 2022 – nearly a 57% increase in value. So, although diagnostics contribute less than one percent of Zoetis’s…

On Thursday, the online payment system PayPal announced its purchase of iZettle, a mobile-card reader and point-of-sale analytics system, for $2.2 billion. The strategy is twofold for PayPal – first, this helps them breach the brick-and-mortar market by having a mobile card reader that is widely becoming popular in the US due to a similar firm called Square. Secondly, it allows PayPal to grow their international presence, as iZettle is used in half a million stores in Europe across 11 different countries. iZettle will have to continue its growth to compete with Square, who processed 446 million payments in 2014.…

On Wednesday, the Senate approved to overturn an attempt by the FCC to roll back the net neutrality rules created under the Obama administration. The net neutrality bill prevents Internet service providers from slowing down or speeding up certain websites, depending on traffic and popularity. Republican representatives, who are the ones most in favor of the repeal, argue that it is important to shift the regulation of the Internet from the public to private sector. Further, they argue that the repeal will give consumers more choice and expand competition, thus creating a gain for both producer and consumer surplus. On…

Until Thursday, Fox News never had a female CEO. That all changed as Suzanne Scott made history to lead one of the major news channels in the nation. The highly revered promotion is definitely deserved, as Scott has been doing a spectacular job at Fox News. Before her promotion, Scott was the president of programming, where she led and managed opinion shows like “Fox & Friends” and “The Ingraham Angle.” Her second in command will be Jay Wallace, who was the president of news, where he led and managed programs like “Special Report.” And although Jack Abernethy, the leader of…

Comcast (CMCSA) is a global leader in cable, and it is seeking to expand its reach in media even further with the acquisition of 21stCentury Fox (FOXA) and British satellite broadcaster Sky. However, to do so, it would be digging itself into a massive financial trench. To acquire Sky, it would have to beat Disney (DIS) with a $31 billion bid, which would be financed by debt entirely. And to purchase Fox, they would need to borrow as much as $60 billion to out-bid Disney. Comcast already has $61 billion in outstanding debt, so the acquisition of both of these…

Everyone thought that grocery stores were slowly dying at the hands of Amazon, but the e-commerce giant is actually reversing the trend. With the purchase of Whole Foods and the continued development of its Amazon Go stores, Amazon wants to invest in the old brick-and-mortar system. With the growth of Amazon Prime Pantry, a service that sends food directly to your home, the need to go into a grocery store is becoming increasingly obsolete. This service is available to anyone with Amazon Prime, which recently increased from $99/year to $119/year. According to Jeff Bezos, Amazon Prime has roughly 100 million…

China, we have liftoff. On Thursday, OneSpace, a privately-owned startup in Beijing, will become the first private company to launch a rocket into space. OneSpace plans on using its rockets for testing and research primarily, but it will also assist companies in bringing small satellites into orbit for purposes such as improving internet in planes, trains, and even on the ground. In the long run, OneSpace hopes to be able to transport humans into space, but for now, CEO Shu Chang and his team are staying pragmatic and grounding themselves with realistic short-term goals. OneSpace has often been seen as…

When the Meridian Magnesium Products of America’s main factory in Michigan was set ablaze by afire two weeks ago, so were the jobs and future sales of Ford and its employees. Magnesium parts have a high demand due to their light and sturdy attributes, which allow car manufacturers to increase fuel efficiency while keeping costs low. However, supply is low, for magnesium-part manufacturers are far and few; consequently, a natural disaster like the fire on May 2ndled to a quagmire for automobile manufacturers. Because of this, Ford will have to lay off 7,600 workers and suspend production of the F-Series…

Boeing (BA) and Airbus (EADSF), the two largest aerospace manufacturers, have been in heavy competition for over a decade – and Tuesday, they both took home a victory. Boeing has claimed that the European Union has supplied Airbus with over $22 billion in unfair subsidies that curbed the sale of Boeing’s jets, including its most popular plane, the 737. And on the other end, Airbus accused Boeing of receiving over $20 billion in illegal subsidies from the United States. Fortunately for Boeing, the World Trade Organization ruled in Boeing’s favor and ruled that the subsidies provided by the EU were…

If you’re ever around a friend who games even occasionally, chances are they’ve mentioned either “PUBG” or “Fortnite.” These games have taken the world by storm within the past eight months, with celebrities and athletes like Drake, Travis Scott, JuJu Smith-Schuster, Ben Simmons, and Karl Anthony-Towns streaming their games for the general public and generating thousands of views. The premise of each game is a 100-person battle royale, in which the last person standing wins – you can play online with your friends or against random competitors in hopes of being the last one remaining. But what does all of…

Tesla has lost a couple of their major executives in the past week, foreshadowing a rapid decrease in stock price that has already started to creep up after concerns about the success of the Model 3. First, Tesla’s director of field performance engineering Matt Schwall left his position to join Waymo, a self-driving car technology startup owned by Alphabet. It is unclear why Schwall left Tesla, but it could be due to the failure and subsequent suspension of Tesla’s self-driving testing. Tesla’s Model X crashed and killed its driver, who put it on autopilot for roughly six seconds before the…

The retail world has faced tremendous struggles in the past few years. With the growth of e-commerce and its drivers such as Amazon, Walmart, and Target, increasingly fewer people shop at physical retail stores. However, Macy’s seems to be a diamond in the rough, as they are the only retail store that is sustaining growth. So what exactly is happening to the retail industry? For the past few years, many retail stores including Ralph Lauren, Urban Outfitters, Sears, and JC Penney have reached all-time lows and have had to close down over a hundred stores. This is due to a…

The Carolina Panthers are officially the most expensive franchise NFL team in history. After being purchased for $2.2 billion by David Tepper, the founder of hedge fund Appaloosa Management, they have eclipsed the Buffalo Bills as the NFL team with the highest purchase price. In 2014, the Bills were purchased for $1.4 billion, nearly a billion less than the Panthers. Was this a smart move by Tepper, or is he in over his head? First and foremost, Tepper has no shortage of money to invest, as his net worth is estimated to be about $11 billion. Clearly, he is no…