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Netflix tops 50 million subscribers in second-quarter, NFLX stock risesNetflix's聽second-quarter earnings announced Monday include an additional 570,000 US subscribers, slightly more than聽the Internet video service's management predicted.聽
Tiffany & Co. says CEO Michael Kowalski will retire in 2015Tiffany & Co. announced that CEO Michael Kowalski will retire retire in 2015. Kowalski, who had been Tiffany & Co.'s CEO for 15 years, will be succeeded by Tiffany & Co. President Frederic Cumenal.聽
KFC, McDonald's face China food scandal: expired meatKFC and McDonalds said they immediately stopped using meat from the supplier, Husi Food Co., Ltd. The Shanghai office of China's food and drug agency said it was investigating and told customers to suspend use of the supplier's products.
O'Neal blames GM for deaths linked to a defective ignition switchDelphi聽CEO Rodney O'Neal,聽testifying in front of the US Congress, said his company made 'the switch that GM approved and wanted.'
Fox bid for Time Warner: A counter to cable company mergers?The cash-and-stock bid by Murdoch's Twenty-First Century聽Fox聽Inc. was partly meant to counter consolidation among US TV distributors like Comcast-Time聽Warner聽Cable and AT&T-DirecTV.
Rupert Murdoch's $80B Time Warner bid rejected. TWX shares soar.Time Warner (TWX) has rejected a reportedly $80 billion bid from聽Rupert Murdoch's Twenty-First Century Fox, Fox says. After the news was announced, Time Warner (TWX) shares rose by 16 percent while Fox starts to trickle down.
Fed Chair Yellen: US economy still needs supportIn delivering the Fed's semi-annual economic report to Congress,聽Yellen聽said the Fed's future actions will depend on how well the economy performs.
$92 million fine for Pilot Flying J truck stop empireBrothers Jimmy, who owns the NFL's Cleveland Browns, and Bill Haslam, who is the governor of Tennessee, will not be prosecuted under terms of the agreement with the federal government.
Wurst 'cartel' fined $460 million for price-fixing in GermanyThe German sausage makers punished included Nestle subsidiary Herta, as well as Meica, Boeklunder, and Wiesenhof.
Reynolds American to buy Lorillard for $25 billion. Will cigarette prices go up?Reynolds American will buy its rival, Lorillard Tobacco Company, for $25 billion, both companies said Tuesday. Reynolds American's purchase of Lorillard聽could spur a wave of consolidation in the tobacco business, shrink workforces, and push cigarettes prices higher.
Citigroup will pay $7 billion to settle securities investigationCitigroup says it will pay $7 billion to settle the US government's mortgage-backed securities investigation.聽Citigroup聽says it would pay $4.5 billion in cash and provide $2.5 billion in consumer relief.聽
CYNK soars from 10 cents to $13.90 a share. Feds halt trading.CYNK is lesson to traders: Avoid penny stock scams. SEC halted trading of CYNK stock Friday to probe possible illegal manipulation. 聽
US runs $71 billion surplus in June as budget gap wanesThe US government ran a budget surplus of $71 billion in June, putting it on track toward the narrowest budget gap since 2008. Nine months into this budget year, the deficit runs at $366 billion, down 28 percent from this time in 2013.- FTC: Amazon has not done enough to prevent in-app purchases by kidsFTC/Amazon suit:聽The agency filed suit in a move had been expected since last week, when聽Amazon聽said it wouldn't settle with the聽FTC聽over the charges.聽
Free to a good home: 4 enormous stadiums, gently usedIncluding the four brand-new stadiums, Brazil spent about $4 billion 鈥� 80 percent of it public money 鈥� on 12 stadiums used for the World Cup. Total World Cup spending was about $11.5 billion.
American Apparel reaches deal for $25 million boost from Standard GeneralAmerican Apparel says it reached a deal for $25 million investment from Standard General to help American Apparel's finances. The money will also help pay American Apparel's loan from investment firm Lion Capital.聽
Forget the World Cup: Germany beats Brazil in markets, too.Germany defeated Brazil 7-1 in the World Cup semi-final on Tuesday, but Germany is also winning in the markets. Germany's equity, currency, and government bond markets have also been surpassing Brazil.
American Apparel challenges default claim on $9.9 million loanAmerican Apparel received noticed from investment firm Lion Capital to pay back a $9.9 million loan. American Apparel is disputing Lion Capital's claim that American Apparel defaulted since ousting founder and CEO Dov Charney in June.- Frontier Airlines pilot orders Domino's pizza for 160 passengersThe Frontier Airlines pilot ordered pizza for all of the passengers after a flight delay stranded them in Wyoming because, "If the need arises you need to take care of your family," he said.
Potato salad Kickstarter raises $60K. Where will the money go?A Kickstarter campaign for a $10 batch of potato salad has raised nearly $60,000 since its launch by an Ohio software company owner last week. The proceeds from the Kickstarter campaign could go to fancier ingredients, potato salad baseball caps, or a giant potato salad party.聽
