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Business

China appoints Guo to repair debt crisis

In a recent meeting of the Chinese Communist Party’s Politburo, President Xi Jinping appointed a new banking regulator chief to oversee the country’s troubled financial system. For decades, the world’s second-largest economy reaped the benefits of over-leveraging, investing heavily in infrastructure and property projects to help boost the overall GDP. However, with debt levels in…

Business

Buffett decries hedge fund managers

In his annual letter to shareholders of Berkshire Hathaway, billionaire investor Warren Buffett applauded the U.S. economy along with his firm’s performance as a conglomerate holding company, but criticized practices of Wall Street hedge funds. What is seen in all of Buffett’s annual shareholder letters is optimism for the future, fueled by impressive growth in…

Uber’s wave of legal troubles reflect woes in company’s culture
Business

Uber’s wave of legal troubles reflect woes in company’s culture

Ride-sharing titan Uber has been caught under fire lately for allegations of sexual harassment within the company and idea theft. Immediately following President Donald Trump’s refugee ban from seven Muslim-majority nations, many Uber users also deleted their accounts because it seemed like it encouraged drivers to try to make a profit out of the tense…

Kraft walks away from Unilever offer
Business

Kraft walks away from Unilever offer

Kraft Heinz Co. made an unsolicited takeover offer for Unilever, the Anglo-Dutch consumer product giant, on Feb. 17 for $143 billion. Kraft’s deal could have been the second largest cross-border deal if it went through, following Vodafone’s acquisition of the German wireless giant Mannesmann that was valued at $180 billion in 2000. Kraft Heinz Co.,…

Business

Theranos faces cash shortfalls after failing second major lab test

Following a failed lab inspection and an effort to rebrand itself, Theranos has ended 2016 with only $200 million in cash reserves, The Wall Street Journal reported. The failed lab inspection carried out in Theranos’ Arizona facility revealed that the company was not adhering to its own medical standards. In mid-February, MarketWatch reported that the…

Business

Boeing workers dismiss unionization

Three-quarters of the 2,828 Boeing workers in the South Carolina plant voted not to unionize against the aircraft company giant. Boeing’s campaign against the International Association of Machinists and Aerospace Workers—the group that tried to rally support for unionization at the South Carolina plant—was uncompromising. The IAM already unionized a plant in Washington state that…

Nvidia’s AI unit poised for big growth in 2017
Business

Nvidia’s AI unit poised for big growth in 2017

Nvidia Corp. has experienced a boom in earnings recently, boasting a record revenue climb in its latest quarter. The California-based technology company stated earlier this month that its revenue from the latest quarter increased by 55 percent, setting a record for a three-month period. Nvidia’s revenue rise can perhaps be attributed to the corporation’s recent…

Bitcoin exchanges halt withdrawal after China issues warning
Business

Bitcoin exchanges halt withdrawal after China issues warning

For years, bitcoin has attracted a huge market base in China, which churns out over 90 percent of trade within the global bitcoin market. Following the meeting, the price of bitcoin fell drastically, despite the fact that bitcoin profits had peaked last month. The price of bitcoin fell by more than $250 a few hours…

Business

Investors’ approval of Trump-Abe meeting relieves trade worries

In his latest visit to the United States, Prime Minister Shinzo Abe sought to strengthen Japan’s ties with the new U.S. administration and dispel any distrust in his government’s motives. Japan’s economy expanded at a modest pace in 2016 as a weaker yen continued to fuel the country’s export-driven recovery for the fourth straight quarter….

Takeover news boost Macy’s shares
Business

Takeover news boost Macy’s shares

Shares of Macy’s, the United States’ largest department store chain and one of the most iconic chains across the world, jumped as much as 12 percent amid speculation that Hudson’s Bay approached the retail chain for a takeover. Those close to the matter said the talks are in the preliminary stages. Hudson’s Bay, which has…

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