After President Trump unleashed a verbal tirade on the NFL at a rally in Alabama on Friday, and NFL owners and players responded on Saturday, many wondered how NFL sponsors would respond to the controversy. On Monday, Nike responded—and took a clear position. In a statement sent to the media, the company said: “Nike supports […]
Category: Business
Wall Street Continues To Soar To Record Highs
U.S. stock benchmarks carved out another round of records on Friday, with a big assist from rallying telecommunication and bank shares, as Wall Street shook off North Korea’s latest missile launch. The Dow Jones Industrial Average rose 64.86 points, to 0.3%, to close at 22,268.34, logging its fourth straight record close and its sixth consecutive […]
EquiFax Says 143 Million Consumers Had Their Personal Info Stolen By Hackers
Equifax Inc, a provider of consumer credit scores, said on Thursday a hack exposed the personal details of potentially 143 million U.S. consumers between mid-May and July. The company’s shares were down 5.4 percent in after-market trading The company said criminals had accessed details including names, social security numbers, and, in some cases, driver’s license […]
American Job Growth Slows In August With 156,000 New Jobs
U.S. hiring took a breather in August, as job gains of 156,000 fell short of expectations and wage growth continued to disappoint. The labor market had appeared to pick up the pace with back-to-back months of more than 200,000 new jobs. Employers slowed down in August, pushing the unemployment rate to 4.4% from 4.3%. Economists […]
Wells Fargo Created 1.4 Million More Fake Accounts Than Previously Reported
Wells Fargo on Thursday said it had potentially opened an additional 1.4 million sham accounts customers didn’t want, 67 percent more than it initially estimated, escalating an already contentious battle over the future of the mega bank. The bank revised the total, now up to 3.5 million, after discovering that employees may have been opening […]
Stock Market Cheers As Bannon Is Fired
U.S. stock markets rallied and traders cheered Friday afternoon as the news of Stephen Bannon’s departure from the White House was learned. CNBC aired a clip of a reporter and anchor discussing the news, where the cheers could be heard in the background. After a morning of drooping stock prices, the Dow Jones rose 27 points in […]
CEO Exodus Leads Trump To Disband Business Councils
President Trump has said he is scrapping two business councils after more bosses quit over his handling of violent clashes in Virginia. Business leaders left the White House manufacturing council after the backlash against how he reacted to the far-right rally last weekend. The clashes culminated in a woman’s death and nearly 20 wounded when […]
Costco Pays $19 Million For Selling Fake Tiffany Rings
A federal judge on Monday said Tiffany & Co (TIF) may recover at least $19.4 million in damages from Costco Wholesale Corp (COST) over the warehouse club chain’s illegal sale of counterfeit diamond engagement rings bearing the “Tiffany” name. U.S. District Judge Laura Taylor Swain said Tiffany deserves $11.1 million, plus interest, representing triple the lost profit […]
Dow Loses Over 200 Points Amid Mounting Tensions With North Korea
Wall Street got bathed in a sea of red Thursday amid mounting tensions between the US and North Korea. The Dow Jones industrial average lost 204 points, marking three consecutive day of losses. The index — which last week hit 22,000 for the first time — closed at 21,844. Markets began to tumble Tuesday after […]
209,000 Jobs Added In Month Of July, Well Above Projections
The U.S. economy continued a strong summer, adding 209,000 jobs in July while the unemployment rate fell to 4.3 percent, the lowest since March 2001, according to a government report Friday. Economists surveyed by Reuters had expected the report to show growth of 183,000; the unemployment rate met expectations. A more encompassing rate that includes […]
Dow Jones Hits 22,000 As Stock Market Breaks New Records Again
The stock market shattered yet another milestone Wednesday, with the Dow Jones Industrial Average reaching 22,000 points for the first time. The 131-year-old index received a 50-point boost from Apple, whose shares saw a 6 percent hike after Tuesday’s strong earnings report. “Stock Market could hit all-time high (again) 22,000 today,” President Donald Trump had […]
Wisconsin Company Implanting Employees With Microchips In August
A Wisconsin tech company says they are about to become the first business in the U.S. to offer microchip implants to its employees. Three Square Market (32M), a River Falls-based software design company, says starting August 1st, it will be offering microchips to all their employees. The chips will be implanted underneath the skin between […]