RSS
 

Wall St. climbs at open after raft of earnings

22 Jul

Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) – U.S. stocks are modestly higher at the open on Tuesday as a cascade of earnings landed and inflation was tame, while hopes rose for an easing of tensions in Ukraine. The Dow Jones industrial average is rising 29.95 points, or 0.18 percent, to 17,081.68, the S&P 500 is up 7.15 points, or 0.36 percent, to 1,980.78 and the Nasdaq Composite is adding 20.42 points, or 0.46 percent, to 4,445.12. (Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)

Powered by WPeMatico

 
Comments Off

Posted in Entrepreneur

 

Yum, McDonald's apologize as new China food scandal brews

21 Jul

Employees work at a production line prior to a seizure at the Husi Food factory in ShanghaiBy Adam Jourdan SHANGHAI (Reuters) – McDonald’s Corp and Yum Brands Inc are facing a new food safety scare in China, denting the fast food giants’ efforts to shore up reputations and businesses that were hurt by a 2012 safety scandal in one of their biggest markets. McDonald’s and KFC-parent Yum apologized to customers on Monday after Chinese regulators shut a local meat supplier following a TV report that showed workers picking up meat from a factory floor, as well as mixing meat beyond its expiration date with fresh meat. The report, which focused on McDonald’s and Yum, brings the pair back into the firing line following the 2012 scandal that involved chicken pumped with excessive amounts of antibiotics. It’s unclear whether the meat supplier, a local unit of U.S.-based food provider OSI Group LLC, may have sold goods to other clients too.

Powered by WPeMatico

 
Comments Off

Posted in Entrepreneur

 

Is Germany still the champion?

20 Jul

A photograph taken using long exposure shows a goalpost which has been illuminated with torches at a leisure facility in front of the ECB headquarters in FrankfurtBy Philip Blenkinsop BRUSSELS (Reuters) – A week on from its World Cup soccer victory, Germany may return to center stage, though this time not with fan celebrations but concerns over the health of Europe’s economic motor. “We’ve seen a delayed impact of China and the Ukraine crisis,” said ING economist Carsten Brzeski. The Ukraine/Russia issue was already there.” In a week relatively light on U.S. indicators, economists are looking for further signs that Europe’s recovery and even German growth may be stalling, putting more pressure on the European Central Bank to act. Across the Channel, minutes from the Bank of England may be the last to show unanimous backing for a stable bank rate of 0.5 percent.

Powered by WPeMatico

 
Comments Off

Posted in Entrepreneur

 

U.S. drugmaker AbbVie finally wins Dublin's Shire with $55 billion deal

19 Jul

Vitamins made by Shire are displayed at a chemist's in northwest LondonBy Paul Sandle LONDON (Reuters) – U.S. drugmaker AbbVie Inc bought Dublin-based Shire Plc on Friday in a 32 billion pound ($54.7 billion) deal that will allow it to slash its tax bill by relocating to Britain. The London-listed company, which makes expensive medicines to treat rare diseases, fought off four earlier bids from AbbVie until the U.S. firm raised its price to 52.48 pounds per share – made up of 24.44 pounds in cash and 0.8960 new AbbVie shares. Chicago-based AbbVie is buying Shire to cut both its U.S. tax bill and its reliance on arthritis drug Humira, the world’s top selling medicine which loses U.S. patent protection in 2016. AbbVie, which generates nearly 60 percent of its revenue from Humira, had until Friday to announce a firm offer for Shire, extend the deadline or walk away under UK takeover rules.

Powered by WPeMatico

 
Comments Off

Posted in Entrepreneur

 

Next Gold Rush: Legal Marijuana Feeds Entrepreneurs’ Dreams

19 Jul

Many investors and job-seekers are flocking to Washington and Colorado to take advantage of the legal marijuana industry, but the risks can be high and the rewards nonexistent.

Powered by WPeMatico

 
Comments Off

Posted in Entrepreneur

 

U.S. drugmaker AbbVie finally wins Dublin's Shire with $55 billion deal

19 Jul

Vitamins made by Shire are displayed at a chemist's in northwest LondonBy Paul Sandle LONDON (Reuters) – U.S. drugmaker AbbVie Inc bought Dublin-based Shire Plc on Friday in a 32 billion pound ($54.7 billion) deal that will allow it to slash its tax bill by relocating to Britain. The London-listed company, which makes expensive medicines to treat rare diseases, fought off four earlier bids from AbbVie until the U.S. firm raised its price to 52.48 pounds per share – made up of 24.44 pounds in cash and 0.8960 new AbbVie shares. Chicago-based AbbVie is buying Shire to cut both its U.S. tax bill and its reliance on arthritis drug Humira, the world’s top selling medicine which loses U.S. patent protection in 2016. AbbVie, which generates nearly 60 percent of its revenue from Humira, had until Friday to announce a firm offer for Shire, extend the deadline or walk away under UK takeover rules.

Powered by WPeMatico

 
Comments Off

Posted in Entrepreneur

 

U.S. drugmaker AbbVie finally wins Dublin's Shire with $55 bln deal

18 Jul

Vitamins made by Shire are displayed at a chemist's in northwest LondonBy Paul Sandle LONDON (Reuters) – U.S. drugmaker AbbVie bought Dublin-based Shire on Friday in a 32 billion-pound ($54.7 billion) deal that will allow it to slash its tax bill by relocating to Britain. The London-listed company, which makes expensive medicines to treat rare diseases, fought off four earlier bids from AbbVie until the U.S. firm raised its price to 52.48 pounds per share – made up of 24.44 pounds in cash and 0.8960 new AbbVie shares. Chicago-based AbbVie is buying Shire to cut both its U.S. tax bill and its reliance on arthritis drug Humira, the world’s top selling medicine which loses U.S. patent protection in 2016. AbbVie, which generates nearly 60 percent of its revenue from Humira, had until Friday to announce a firm offer for Shire, extend the deadline or walk away under UK takeover rules.

Powered by WPeMatico

 
Comments Off

Posted in Entrepreneur

 

Tado Raises Money for Expansion

18 Jul

By now, many people have heard of Nest, the smart and self-learning thermostat. Europe has their version of Nest called Tado. Recently, they have raised approximately $13.6 million for their expansion. The startup company plans to reach to several other countries. Read more here about their plans here!

tado_away_mode Tado, a European competitor to Google-owned Nest and local smart thermostat companies, such as the UK’s Heatmiser or Hive from British Gas, has topped up its funding today, disclosing a new ?10 million (13.6m) round. Read More

Source: http://techcrunch.com/2014/07/16/tado-raises-a-cool-10m/ncid=rss

 
Comments Off

Posted in Entrepreneur

 

Tado Raises Money for Expansion

18 Jul

By now, many people have heard of Nest, the smart and self-learning thermostat. Europe has their version of Nest called Tado. Recently, they have raised approximately $13.6 million for their expansion. The startup company plans to reach to several other countries. Read more here about their plans here!

tado_away_mode Tado, a European competitor to Google-owned Nest and local smart thermostat companies, such as the UK’s Heatmiser or Hive from British Gas, has topped up its funding today, disclosing a new ?10 million (13.6m) round. Read More

Source: http://techcrunch.com/2014/07/16/tado-raises-a-cool-10m/ncid=rss

 
Comments Off

Posted in Entrepreneur

 

Microsoft to cut 18,000 jobs this year as it chops Nokia

17 Jul

MicrosoftBy Bill Rigby SEATTLE (Reuters) – Microsoft Corp will slash up to 18,000 jobs, or 14 percent of its workforce, this year as it almost halves the size of its newly acquired Nokia phone business and tries to transform into a cloud-computing and mobile-friendly software company. The larger-than-expected cuts, announced on Thursday, are the deepest in the company’s 39-year history and come five months into the tenure of Chief Executive Officer Satya Nadella. “We plan to have fewer layers of management, both top down and sideways, to accelerate the flow of information and decision making.” Beyond the Nokia reductions, Nadella gave few clues about where the ax will fall or what areas will receive more funding, saying he will flesh out his plans after Microsoft’s quarterly earnings report on July 22. The size of the cuts were welcomed by Wall Street, which viewed Microsoft as bloated under previous CEO Steve Ballmer, topping 127,000 in headcount after absorbing Nokia earlier this year.

Powered by WPeMatico

 
Comments Off

Posted in Entrepreneur