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Updated: 27 sec ago

High-Speed Rail in the U.S. Remains Elusive: Illinois Shows Why

Tue, 03/05/2019 - 02:27 - [CET/Central European Time]
A $2 billion Chicago-St. Louis project will offer a top speed of just 110 mph and shave an hour off the trip. Few people are expected to use it. One problem: having to share the track with freight railroads.
Placed in category: ECONOMY AND FINANCE

Cheniere Deal With China Signals Country's Key Role in LNG Exports

Tue, 03/05/2019 - 01:25 - [CET/Central European Time]
Cheniere Energy’s expected $18 billion deal to supply natural gas to China signals the company’s growing bet on the country, and China’s emergence as a top market for U.S. gas exporters.
Placed in category: ECONOMY AND FINANCE

Salesforce Raises Its Full-Year Sales Outlook as Profit Rises

Tue, 03/05/2019 - 00:16 - [CET/Central European Time]
Salesforce on Monday reported a stronger profit for the latest period and presented a bullish view on sales growth, targeting $26 billion to $28 billion in revenue by fiscal 2023.
Placed in category: ECONOMY AND FINANCE

Facebook Sues Chinese Companies for Creating Fake Accounts

Tue, 03/05/2019 - 00:01 - [CET/Central European Time]
Facebook and Instagram sued four companies and three people based in China for creating and selling fake accounts, likes and followers, according to a posting on the social media giant’s website.
Placed in category: ECONOMY AND FINANCE

The $2,000 Bendable Phone: Hold 'Em or Fold 'Em?

Tue, 03/05/2019 - 00:00 - [CET/Central European Time]
At the mobile-phone industry’s premier trade show, two of the world’s three biggest makers lavishly displayed what they hope will be the smartphone of the future. The question is, will anyone buy it?
Placed in category: ECONOMY AND FINANCE

Purdue Pharma Preparing Possible Bankruptcy Filing

Mon, 03/04/2019 - 23:37 - [CET/Central European Time]
Purdue Pharma is working with advisers on a possible bankruptcy filing as it seeks to contain liability from suits alleging it fueled the U.S. opioid epidemic.
Placed in category: ECONOMY AND FINANCE

Venezuelan Opposition Seeks U.S. Court's Help Protecting Citgo

Mon, 03/04/2019 - 23:32 - [CET/Central European Time]
Venezuela’s U.S.-backed opposition leaders asked a federal appeals court to refrain from carving up the country’s foreign assets, saying their loss would hurt the chances of political change in Caracas.
Placed in category: ECONOMY AND FINANCE

Disney Cuts Compensation for Iger in Fox Deal

Mon, 03/04/2019 - 23:23 - [CET/Central European Time]
Disney tweaked Robert Iger’s pay package, removing $13.5 million in potential salary and incentive awards available for the CEO after the company closes its acquisition of Fox assets.
Placed in category: ECONOMY AND FINANCE

AT&T Breaks Up Turner, Bulks Up Warner Bros. in Major Overhaul

Mon, 03/04/2019 - 23:21 - [CET/Central European Time]
AT&T started reorganizing its WarnerMedia unit by combining its disparate networks and entertainment businesses, an overhaul that is expected to lead to cost-cutting and layoffs.
Placed in category: ECONOMY AND FINANCE

Nevada Is the Jackpot of Barrick's Push for Newmont

Mon, 03/04/2019 - 23:02 - [CET/Central European Time]
Barrick Gold’s bid to acquire rival gold producer Newmont Mining centers on a plan to combine portfolios and operations in the state of Nevada.
Placed in category: ECONOMY AND FINANCE

After an Auditor Flunked Brazil Dam, Vale Found Another Who Passed It

Mon, 03/04/2019 - 22:23 - [CET/Central European Time]
Vale, the owner of a mine-waste dam that collapsed this year, killing more than 180 people, dismissed an auditor that refused to certify the dam as safe in September, according to an initial probe by police and prosecutors.
Placed in category: ECONOMY AND FINANCE

Investors Scale Back Inflation Bets, Signaling Doubts About Growth

Mon, 03/04/2019 - 19:52 - [CET/Central European Time]
Bets on a pickup in inflation are falling out of favor, underscoring investors’ skepticism that the U.S. economy will be able to turn stronger after a soft start to the year.
Placed in category: ECONOMY AND FINANCE

U.S. Push on Food Trade Pressures EU

Mon, 03/04/2019 - 18:44 - [CET/Central European Time]
U.S. and European trade negotiators, under growing domestic pressure over agriculture, are set to meet again this week as clashing demands threaten to rekindle a tit-for-tat economic war.
Placed in category: ECONOMY AND FINANCE

Philip Morris Cuts Profit Forecast After Canada Court Ruling

Mon, 03/04/2019 - 18:29 - [CET/Central European Time]
Philip Morris International Inc. cut its profit outlook for the year and expects lower pretax earnings in the first quarter after a subsidiary and other tobacco companies lost a major legal appeal in Canada.
Placed in category: ECONOMY AND FINANCE

Ted Baker CEO Resigns After Misconduct Probe

Mon, 03/04/2019 - 17:03 - [CET/Central European Time]
Ray Kelvin, the founder and chief executive of British fashion retailer Ted Baker, has resigned with immediate effect following an investigation into his alleged misconduct.
Placed in category: ECONOMY AND FINANCE

U.S., China Close In on Trade Deal

Mon, 03/04/2019 - 16:53 - [CET/Central European Time]
China and the U.S. are close to completing a trade deal, with Beijing offering to lower tariffs and other restrictions on American farm, chemical, auto and other products and Washington considering removing most, if not all, sanctions levied against Chinese products since last year.
Placed in category: ECONOMY AND FINANCE

Galaxy S10 Review: Samsung Finally Gets Everything Right

Mon, 03/04/2019 - 05:03 - [CET/Central European Time]
Samsung has long made good hardware, and the Galaxy S10 is its best yet. But for the first time, the company also nailed the software.
Placed in category: ECONOMY AND FINANCE

Grocers Brace for Another Blow From Amazon

Mon, 03/04/2019 - 04:16 - [CET/Central European Time]
Competition from Amazon.com has pushed grocers to focus on home delivery and lower prices. Now it is taking aim at supermarkets’ high-profit products: those found in the beauty aisle.
Placed in category: ECONOMY AND FINANCE

Shale Companies, Adding Ever More Wells, Threaten Future of U.S. Oil Boom

Mon, 03/04/2019 - 03:55 - [CET/Central European Time]
Newer wells drilled close to older wells are generally pumping less oil and gas and could permanently hurt output, leading frackers to cut back on the number of sites planned and forecasts on overall production to be trimmed.
Placed in category: ECONOMY AND FINANCE

Owners of Instant Pot, Corelle to Merge

Mon, 03/04/2019 - 02:07 - [CET/Central European Time]
Instant Brands, the maker of the popular Instant Pot, is merging with Corelle Brands, which makes houseware mainstays such as Corelle, Pyrex, CorningWare and SnapWare, in a combination their owners hope will be a recipe for success.
Placed in category: ECONOMY AND FINANCE

Vale Top Executives Step Aside After Request From Authorities in Dam Case

Mon, 03/04/2019 - 02:02 - [CET/Central European Time]
Vale Chief Executive Fabio Schvartsman and other top executives of the Brazilian mining giant stepped down following pressure from authorities in the first sign investigators are zeroing in on the company’s leadership after the deadly collapse of one of its dams.
Placed in category: ECONOMY AND FINANCE

A Storm Is Gathering Over Container Shipping

Mon, 03/04/2019 - 01:35 - [CET/Central European Time]
The hulking megaships that serve the world’s biggest trade routes look more than ever like monuments to brash corporate planning and projections built more out of hopes than reality.
Placed in category: ECONOMY AND FINANCE

Tesla Is Betting It Can Sell Cars Online, Without a Test Drive

Mon, 03/04/2019 - 01:33 - [CET/Central European Time]
Tesla CEO Elon Musk’s latest strategic shift will be one of his biggest challenges: persuading mainstream consumers to purchase cars online the way they buy books or clothes.
Placed in category: ECONOMY AND FINANCE

SpaceX Crew Capsule, With a Dummy Astronaut, Docks With Space Station

Mon, 03/04/2019 - 01:27 - [CET/Central European Time]
A new-generation SpaceX capsule autonomously docked with the international space station on Sunday, in a successful test of computers and maneuvering systems deemed essential to carry U.S. astronauts on future missions.
Placed in category: ECONOMY AND FINANCE

Weapon Makers Declare War on Drones

Mon, 03/04/2019 - 01:22 - [CET/Central European Time]
Arms makers are targeting the growing menace of drones at airports and on battlefields with a rush to develop new missile systems, radar jammers and laser cannons.
Placed in category: ECONOMY AND FINANCE

AT&T Plans to Revamp CNN's Digital Arm

Sun, 03/03/2019 - 22:26 - [CET/Central European Time]
John Stankey, the AT&T executive at the helm of newly-acquired WarnerMedia, is planning to revamp CNN’s digital operation, which he believes requires more investment in product development and data analytics.
Placed in category: ECONOMY AND FINANCE

Trump's Effort to Narrow the Trade Gap Has Flopped So Far

Sun, 03/03/2019 - 21:31 - [CET/Central European Time]
On Wednesday, the Census Bureau will likely report the U.S. last year registered the largest trade deficit in its history. How that happened is a lesson in the economics of imbalances.
Placed in category: ECONOMY AND FINANCE

SpaceX Capsule Lifts Offfor Long-Delayed Test Flight

Sat, 03/02/2019 - 22:52 - [CET/Central European Time]
Elon Musk’s SpaceX successfully launched a Crew Dragon capsule on its maiden voyage into orbit without people on board, but technical challenges could delay for months the first trip carrying astronauts.
Placed in category: ECONOMY AND FINANCE

Vale Could Face $7 Billion Fine in Wake of Dam Collapse

Sat, 03/02/2019 - 14:27 - [CET/Central European Time]
Brazilian mining giant Vale could face a close to $7 billion fine if convicted of colluding with safety auditors to hide unsafe conditions at the dam that collapsed and killed more than 180 people near Brumadinho.
Placed in category: ECONOMY AND FINANCE

Cellphone Carriers Dream of World Without Wi-Fi

Sat, 03/02/2019 - 14:07 - [CET/Central European Time]
Cheap and constantly improving, Wi-Fi networks have grown to near ubiquity. But some telecom executives hope customers will eventually drop “rubbish” Wi-Fi in favor of new 5G cellular technology, which they say could drive more data and revenue onto their networks.
Placed in category: ECONOMY AND FINANCE

Canada Allows Extradition of Huawei Executive to Proceed

Sat, 03/02/2019 - 06:14 - [CET/Central European Time]
Canada said the U.S. had presented enough evidence to proceed with the extradition hearing for a Huawei Technologies top executive, clearing the way for a case at the center of tensions between the U.S., China and Canada.
Placed in category: ECONOMY AND FINANCE

For AT&T, No More Fiefdoms at HBO and Turner

Sat, 03/02/2019 - 06:10 - [CET/Central European Time]
AT&T closed on its $80 billion-plus acquisition of Time Warner last June, but the real takeover is beginning now. The telecommunications giant is expected within days to officially break down the corporate walls and fiefdoms that have long been a way of life at Time Warner’s HBO, Turner and Warner Bros. units.
Placed in category: ECONOMY AND FINANCE

Sheldon Adelson Is Being Treated for Cancer

Sat, 03/02/2019 - 05:23 - [CET/Central European Time]
Sheldon Adelson, a billionaire casino magnate, is being treated for cancer but remains at the helm of the casino empire he founded some three decades ago, his company said on Friday.
Placed in category: ECONOMY AND FINANCE

Lyft's IPO Filing Offers Look at Size, Scope of Ride-Hailing Company

Sat, 03/02/2019 - 04:57 - [CET/Central European Time]
Lyft made its IPO documentation public, a move that fires the starting gun on what’s expected to be one of the biggest years for tech IPOs ever.
Placed in category: ECONOMY AND FINANCE

Amazon to Launch New Grocery Chain

Sat, 03/02/2019 - 03:57 - [CET/Central European Time]
Amazon is planning to open dozens of grocery stores in several major U.S. cities as the retail giant looks to broaden its reach in the food business and touch more aspects of consumers’ lives.
Placed in category: ECONOMY AND FINANCE

Inside the Hottest Job Market in Half a Century

Sat, 03/02/2019 - 01:31 - [CET/Central European Time]
All sorts of people who have previously had trouble landing a job are now finding work. A look at who’s getting ahead, who could be left behind and how long the boom can last.
Placed in category: ECONOMY AND FINANCE

Subaru Recalls Cars to Fix Glitch Possibly Caused by Fabric Softener

Fri, 03/01/2019 - 23:52 - [CET/Central European Time]
Subaru plans to recall as many as 2.3 million vehicles globally to fix a defect caused by chemicals released by everyday products like fabric softener or car polish.
Placed in category: ECONOMY AND FINANCE

Foot Locker Posts Strong Sales

Fri, 03/01/2019 - 23:00 - [CET/Central European Time]
Foot Locker reported strong sales for its latest quarter, helped by customers’ willingness to shell out more for sneakers.
Placed in category: ECONOMY AND FINANCE

How Do You Stack Up in Today's Job Market?

Fri, 03/01/2019 - 22:15 - [CET/Central European Time]
Put in your info to see if you’re one of the many workers benefiting from a strong U.S. labor market.
Placed in category: ECONOMY AND FINANCE

Inflation Fell Below Fed Target in 2018

Fri, 03/01/2019 - 21:46 - [CET/Central European Time]
Inflation fell short of the Federal Reserve’s 2% target in 2018 for a seventh consecutive year, though a closely watched measure of underlying price pressures gained traction in December.
Placed in category: ECONOMY AND FINANCE

Personal Income Cooled in January

Fri, 03/01/2019 - 20:38 - [CET/Central European Time]
Income softened in January, driven by a sharp dive in both dividend and proprietors’ income that reverted an outsize jump in December income.
Placed in category: ECONOMY AND FINANCE

Congress Faces Fall Deadline to Address Debt Ceiling

Fri, 03/01/2019 - 20:16 - [CET/Central European Time]
The clock starts ticking this weekend for Congress to reach a deal to raise the federal borrowing limit, or debt ceiling, before the government runs out of money to pay its bills sometime this fall.
Placed in category: ECONOMY AND FINANCE

GE CEO Letters Decoded: Shrinking Ambitions, Disappearing Buzzwords

Fri, 03/01/2019 - 16:18 - [CET/Central European Time]
Larry Culp’s first shareholder letter as GE’s CEO was brief, reflecting changes in the company, which can only afford to pay a token dividend and is breaking itself apart.
Placed in category: ECONOMY AND FINANCE

Caesars to Replace Three Directors in Deal With Icahn

Fri, 03/01/2019 - 15:54 - [CET/Central European Time]
Caesars Entertainment agreed to replace three members of its board as part of a pact with activist investor Carl Icahn, who is pushing to sell or merge the casino and resort operator.
Placed in category: ECONOMY AND FINANCE

EBay Plans Strategic Review of Assets

Fri, 03/01/2019 - 15:42 - [CET/Central European Time]
EBay will review its operations and assets and add two directors, with a third new member to be added later in 2019, as part of agreements with affiliates of activist investors Elliott Management and Starboard Value.
Placed in category: ECONOMY AND FINANCE

Five Takeaways From Powell's Congressional Testimony

Fri, 03/01/2019 - 11:44 - [CET/Central European Time]
Federal Reserve Chairman Jerome Powell completed two days of testimony on Capitol Hill this week. Here are five things learned from the exchanges with lawmakers.
Placed in category: ECONOMY AND FINANCE

PG&E Says Its Equipment Was Probable 'Ignition Point' of Camp Fire, Takes $10.5 Billion Charge

Fri, 03/01/2019 - 05:49 - [CET/Central European Time]
PG&E said its equipment will probably be found to be an “ignition point” of the Camp Fire in Paradise, Calif., last year that killed 85 people, and recorded total fire-related charges of $11.5 billion in the fourth quarter.
Placed in category: ECONOMY AND FINANCE

HBO CEO Resigning Amid AT&T Restructuring

Fri, 03/01/2019 - 05:35 - [CET/Central European Time]
HBO Chairman and Chief Executive Richard Plepler said he is stepping down, a move that comes as new owner AT&T Inc. is looking to put its own stamp on the premium cable channel that was part of its $80 billion acquisition of Time Warner.
Placed in category: ECONOMY AND FINANCE

Tesla Shifts to Online Sales Model

Fri, 03/01/2019 - 05:05 - [CET/Central European Time]
Tesla is shifting all its global sales online to cut costs as it begins taking orders for the $35,000 version of its Model 3 compact car.
Placed in category: ECONOMY AND FINANCE

Tax Refunds Bounce Back After Slow Start

Fri, 03/01/2019 - 04:44 - [CET/Central European Time]
Average tax refunds rebounded after a weak start to the tax-filing season, according to Internal Revenue Service data released Thursday that was highlighted by Treasury Secretary Steven Mnuchin.
Placed in category: ECONOMY AND FINANCE

SpaceX Prepares Capsule for Humans

Fri, 03/01/2019 - 04:21 - [CET/Central European Time]
A SpaceX flight set for early Saturday won’t include crew but will test hardware reliability of the Crew Dragon capsule, as the U.S. tries to get back into the business of transporting astronauts into space.
Placed in category: ECONOMY AND FINANCE

U.S. Economy Grew 2.6% in the Fourth Quarter

Fri, 03/01/2019 - 04:03 - [CET/Central European Time]
The economy completed one of the best years of a nearly decadelong expansion, growing at a modest pace despite turbulent markets, uncertainties about trade with China and a government shutdown in late December.
Placed in category: ECONOMY AND FINANCE

Amazon's Project Zero Aims to Help Brands Target Scammers

Fri, 03/01/2019 - 03:58 - [CET/Central European Time]
Amazon is starting to let brand owners delete listings on its site for products they deem fake, a shift in its struggle to fight counterfeiters that cedes some responsibility to others.
Placed in category: ECONOMY AND FINANCE

Fed Chief Says U.S. Economy 'Is in a Good Place'

Fri, 03/01/2019 - 03:23 - [CET/Central European Time]
Jerome Powell said the U.S. economy is doing well, but he highlighted risks to growth that prompted the central bank to signal it is done raising interest rates for now.
Placed in category: ECONOMY AND FINANCE

Gap, Old Navy to Split Into Two Public Companies

Fri, 03/01/2019 - 02:53 - [CET/Central European Time]
Gap said it will separate the fast-growing Old Navy chain from its struggling flagship brand, creating two publicly traded companies.
Placed in category: ECONOMY AND FINANCE

Why Facebook Still Seems to Spy on You

Fri, 03/01/2019 - 01:03 - [CET/Central European Time]
WSJ reporter Katherine Bindley found that our ability to control Facebook ad tracking is limited and that much of what Facebook claims should come with lengthy footnotes.
Placed in category: ECONOMY AND FINANCE

Some States Are Sending Money Back to Taxpayers

Fri, 03/01/2019 - 00:13 - [CET/Central European Time]
Ten years after the recession, many states have revenue surpluses and some are sending that bounty back to taxpayers with higher spending or cuts in taxes.
Placed in category: ECONOMY AND FINANCE

Budweiser Brewer Pushes Alternative Drinks as Bud Falls Flat

Thu, 02/28/2019 - 22:57 - [CET/Central European Time]
AB InBev, the world’s largest brewer, said its efforts to woo drinkers with new lower-carbohydrate and lower-alcohol drinks had started to improve its performance in the U.S.
Placed in category: ECONOMY AND FINANCE

GM Says Two Top Executives to Leave the Company

Thu, 02/28/2019 - 22:54 - [CET/Central European Time]
General Motors’ Global Manufacturing Chief Alicia Boler Davis will leave in April to join Amazon.com, while the head of North America, Alan Batey, will retire after 40 years.
Placed in category: ECONOMY AND FINANCE

Capital Gains Jumped in Final Year Before Tax Cut Started

Thu, 02/28/2019 - 20:29 - [CET/Central European Time]
U.S. taxpayers reported 33.5% more in net capital-gains income in 2017 than in 2016, according to new IRS data that provide the first look at the final year before the Tax Cuts and Jobs Act took effect.
Placed in category: ECONOMY AND FINANCE

Jobless Claims Rose in Mid-February

Thu, 02/28/2019 - 17:48 - [CET/Central European Time]
The number of Americans filing applications for new unemployment benefits increased last week.
Placed in category: ECONOMY AND FINANCE

Puma Takes Premier League Champions Manchester City From Nike

Thu, 02/28/2019 - 15:36 - [CET/Central European Time]
Puma will become the official uniform supplier to reigning English Premier League soccer champions Manchester City, as the German sportswear maker takes one of the sport’s most prized assets from industry leader Nike.
Placed in category: ECONOMY AND FINANCE

PG&E Delayed Safety Work on Power Line That Is Prime Suspect in California Wildfire

Thu, 02/28/2019 - 05:06 - [CET/Central European Time]
Since 2013, the state’s largest utility has repeatedly postponed upgrades to the high-voltage line that ran near Paradise, Calif., records show. The story of the Caribou-Palermo line is part of California’s wildfire reckoning and at the center is PG&E and its track record of safety lapses.
Placed in category: ECONOMY AND FINANCE

Big Bristol-Myers Shareholder Opposes Celgene Deal

Thu, 02/28/2019 - 04:15 - [CET/Central European Time]
One of Bristol-Myers’s largest shareholders is opposing the company’s $74 billion deal to buy rival Celgene, becoming the latest investor to express its unhappiness with the transaction.
Placed in category: ECONOMY AND FINANCE

AT&T Weighs Combining HBO, Turner Units

Thu, 02/28/2019 - 03:01 - [CET/Central European Time]
Television veteran Robert Greenblatt is in advanced talks with AT&T to take a senior role at WarnerMedia that could include oversight of the HBO and Turner entertainment networks.
Placed in category: ECONOMY AND FINANCE

Southwest Airlines Receives Approval to Fly Between West Coast Cities and Hawaii

Thu, 02/28/2019 - 02:59 - [CET/Central European Time]
Regulatory approval comes several months after the airline first proposed Hawaii service, which it calls its growth opportunity.
Placed in category: ECONOMY AND FINANCE

Best Buy's Profit, Sales Rise

Thu, 02/28/2019 - 02:23 - [CET/Central European Time]
Best Buy said its holiday sales got a boost from the surging popularity of the “Fortnite” videogame, which spurred purchases of headphones and other accessories.
Placed in category: ECONOMY AND FINANCE

HP Sales Rise, but Fall Short of Estimates

Thu, 02/28/2019 - 01:20 - [CET/Central European Time]
HP’s sales missed Wall Street targets in the most recent quarter, but the company maintained its full-year outlook on adjusted profit.
Placed in category: ECONOMY AND FINANCE

Campbell Shows Signs of Turnaround

Thu, 02/28/2019 - 00:20 - [CET/Central European Time]
Campbell Soup made progress in its effort to reignite growth after a tumultuous year, underscoring the gulf between some smaller food makers and the problems facing Kraft Heinz.
Placed in category: ECONOMY AND FINANCE

Liberty Global to Sell Swiss Operation

Wed, 02/27/2019 - 23:55 - [CET/Central European Time]
John Malone’s Liberty Global, a holding company for European cable assets, will sell its Swiss unit, UPC Switzerland, to Sunrise Communications Group in a deal with an enterprise value of about $6.3 billion.
Placed in category: ECONOMY AND FINANCE