All Latest News Wires
American Apparel founder Dov Charney threatens to sue over oustingAmerican Apparel's board rejected a demand to meet and reinstate ousted CEO聽Dov Charney, according to someone close to the matter.听American Apparel last week stripped Charney of his titles of chief executive, chairman and president.- US Export-Import Bank officials investigated over giftsThe US Export-Import Bank has suspended or removed four officials as investigators look into allegations of improper gifts and kickbacks as well as efforts to direct contracts to favored businesses.
Why Presbyterians are divesting stock in US companies with sales to IsraelPresbyterian Church (U.S.A.) on Friday voted to sell stock worth $21 million in Caterpillar, Hewlett-Packard and Motorola Solutions a protest against Israeli policies toward Palestinians.
Alstom-GE deal gets support from FranceAlstom-SA looks close to being acquired by General Electric聽after the French government dropped its objections and threw its support behind the American offer. GE has been fighting to acquire Alstom for months.听
Darden Restaurants disappoints as Red Lobster, Olive Garden struggleDaren Restaurants聽said Friday that sales continued to slide at聽Olive聽Garden聽and Red Lobster in the latest quarter, dragging down the company's profit. Darden's struggles come as sit-down chains decline in popularity.听- Minimum wage bill in Massachusetts gets Obama's praisesMinimum wage bill in Massachusetts would raise the state's per hour wage from $8 to $11. President Obama聽said Thursday he looks forward to Gov. Deval Patrick, a fellow Democrat, signing the minimum wage bill.
Mary Barra grilled by lawmakers on GM report findingsMary Barra, General Motors' CEO, appeared before a House subcommittee for the second time Wednesday, answering questions on why it took 11 years to recall millions of small cars with defective ignition switches.听Mary聽Barra聽endured skepticism and some lecturing at the hearing.听
U.S. Marshals accidentally leak potential Bitcoin bidders listA list of potential bidders for the Bitcoin auction was accidentally leaked by the U.S. Marshals Service on Wednesday, according to the agency.
Boeing 787-9 Dreamliner cleared for takeoffBoeing 787-9 Dreamliner has been approved by US and European regulators for commercial flying. The new Boeing 787 is 20 feet longer and 聽able to carry more passengers than the original 787-8.听
GM recalls another 3.4 million cars for faulty keysGM recall involves:聽Buick LaCrosse, Lucerne, and Regal; Chevrolet Impala and Monte Carlo; and Cadillac Deville and DTS. Unlike previous GM recalls on the ignition switch, the latest move was caused by the design of the key.
City of Miami sues JPMorgan for mortgage discriminitationThe city of Miami has sued JPMorgan Chase and Co. for predatory mortgage lending in minority neighborhoods. Miami's lawsuit against JPMorgan says the bank had discriminatory mortgage lending practices since at least 2004.
Medical device company Medtronic to buy Irish firm Covidien in $42.9b dealThe combined company would have its executive offices in Dublin, where it could benefit from Ireland's lower corporate tax rates.听
IMF: US needs to raise minimum wageThe International Monetary Fund says the US needs to raise its federal minimum wage rate in the IMF's annual review of the US economy. The IMF also lowered its US gross domestic product growth forecast to two percent for the year.- Starbucks offers (almost) free college degree for 135,000 employeesStarbucks is offering freshman and sophomores reduced tuition at Arizona State University. In junior and senior years, Starbucks would reimburse any money that workers pay out of pocket.
General Motors recalls another 512,000 cars over ignition switchesGeneral Motors is recalling more than 500,000 Chevrolet Camaro cars. A driver's knee can bump the key and make the engine stall, GM says, causing the power steering and brakes to be disabled and drivers to lose control.
Beef recall hits Whole Foods, two restaurantsBeef recall from Missouri-based聽Fruitland American Meat affects聽4,012 pounds of beef distributed to a Whole Foods distribution center in Connecticut. The beef recall also involves products shipped to restaurants in New York and Kansas City, Mo.听
Emirates Airlines cancels Airbus A350 order worth $16 billionThe A350 is intended as聽Airbus' best hope for catching up in the long-haul market that is dominated by Boeing.
Uber sign-ups soar by 850 percent as cab drivers protestUber sees an 850 percent jump in sign-ups, while cab drivers across Europe protest the taxi-hailing app by going on strike. Experts call the strike against Uber "PR gold" for the app.
Dunkin' Donuts expands into California after 12-year absenceDunkin' Donuts聽has filed permits to open its first free-standing stores in California, with construction expected to begin later this month. Dunkin' Donuts聽has about 11,000 restaurants around the world.- Waffle House denies waitress $1,000 tip. She gets it back.Waffle House denied a waitress a $1,000 left for her on Mother's Day because it was left on a credit card. But after Waffle House denied the waitress the $1,000 tip, the customer gave it back in the form of a check.听
