Business

Business

All-day breakfast boosts McDonald’s Q4

March 2015 was the beginning of a revamped business structure for McDonald’s as former CEO Donald Thompson retired and Steve Easterbrook replaced him as president and CEO of McDonald’s. Easterbrook worked to reorganize McDonald’s into four separate markets by July 2015 so the company could be better managed. This change in combination with the introduction…

Business

Bankers leave Goldman Sachs for Uber

Three bankers have left their positions in the technology investment banking group of Goldman Sachs Group Inc. in San Francisco in favor of positions at Uber Technologies Inc. According to reports, the mid-level bankers, Ian Kleinfield, Prabir Adarkar and Chris Lapointe, are three of many to leave Wall Street for opportunities in successful startups launched…

Business

Nordstrom earnings per share falls in Q3

Nordstrom shares tanked as it missed on earnings this quarter. The clothing store reported adjusted earnings per share of $0.57 and revenue of $3.33 billion. Wall Street analysts were expecting earnings per share of $0.72 and revenue of $3.37 billion. The company reported that it will take a deduction of $0.15 per share due to…

Business

Barclays fined $109 million for improper security procedures

The Financial Conduct Authority announced that Barclays, the universal bank, has been fined 72 million pounds, or $109 million, for its elaborate plan to hide transactions worth 1.88 billion pounds, or $2.83 billion. The notice appeared on the website of the U.K. regulator on Nov. 26. Based in the United Kingdom, Barclays is a global…

Business

Fed insinuates it will increase interest rates mid-December

A minutes report published by the Board of Governors of the Federal Reserve System on Nov. 18 describes the discussion of Federal Open Market Committee (FOMC) members regarding what it refers to as “policy normalization” during their meetings on Oct. 27 and Oct. 28. An increase in the federal funds rate has been long anticipated…

Business

Microsoft opens flagship store in NYC

The seemingly endless Apple versus Microsoft war will forever be etched in technology history. One area that Microsoft only recently decided to try and break into is the retail market. Since its first store opened in 2001, the Apple Store has permanently changed the way consumers purchase computers and mobile devices. In 2010, Microsoft finally got around…

Business

Government requests for social media data jump

According to a report released by Facebook, there has been an increase in government requests for Facebook user data throughout the world. The online social networking service has released the number of government requests for users’ data and posts that have violated local laws in their respective countries. Also included in the report is updated information…

Business

Court to go forward with insider trading case against Valeant Pharmaceutical

Following months of allegations, California’s District Judge David Carter ruled that Canadian-based Valeant Pharmaceuticals International Inc. and hedge fund manager Bill Ackman would face an insider-trading lawsuit. Carter disagreed with the arguments made by Valeant, activist hedge fund manager William Ackman and Ackman’s Pershing Square Capital Management. They claimed that the companies’ activities did not…

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