On Thursday Home Depot made an announcement that Frank Blake its CEO who has held the post for quite a long time will be stepping down on November 1 making way for Craig Menear who is presently the U. S. retail president of the company. Blake has been the chairman and CEO of the company since 2007. Home Depot Inc. is the biggest retailer for home improvement in the U. S.
Hackers break into yet another system and get hands on the data of thousands of customers of PS Stores. The data breach could have affected some 100,000 or more people as it is thought to have lasted for months. Customers who used their credit card or debit card in the stores in the past one year could have been the ones whose information is at risk.
Target has always been counting on its traditional strength of being a leader in cheap-chic style. Tough the company's executive sound optimistic as the back-to-school season shopping begins with a sturdy note. However the retailer lowered its rest of the year profit outlook after its poor performance in the second quarter.
On Wednesday a person who is familiar with the matter said that the Bank of America has settled to pay almost $17 billion to clear up allegations brought by federal and state that the bank sold mortgage-backed securities which were risky, to investors before the beginning of the national financial crisis.
On Tuesday a report of a government audit said that the 'Obamacare' tax levied on medical devices has not been catching up to standards that were expected and is falling behind its revenue target as thousands of companies are not paying up.
The financial regulator of New York State has asked Standard Chartered plc the UK-based lender to pay a civil monetary fine of $300 million. Along with the penalty the bank has also been asked to take some other remedial steps due to which it failed to perk up its controls over money laundering which were needed according to the previous settlement that it made with the regulator in 2012.
It seems the recovery in the new-home construction is gaining speed in the U. S. The new home construction increased in July to a high that was not seen in the last eight months. This helped to lift the stock market and also improved the prospects of a wider economic recovery.
On Tuesday, Apple established a record high price for its stocks and closed in to a valuation of $600 billion when it is expected to introduce an all new iPhone.
Google went public on August 19, 2004. It raised around $1.2 billion in cash and the IPO gifted Google Inc. with a stock which was used by the company to attract a large number of intelligent engineers and purchase companies like YouTube which seemed to have a very bright future.
A survey that was conducted recently by Bankrate. com revealed that one third or 36 percent of Americans do not have anything saved for years after retirement. This includes the 14 percent who above the age of 65 or more. The firm publishes varied information related to personal finance.
The co-owners of Rancho Feeding Corp. a slaughter house in Petaluma, California that was behind a huge beef recall of meat were indicted by a federal grand jury on charges of intentionally distributing cattle that were suffering from eye cancer and dispensation of the condemned carcasses.
In a report released on Monday the federal auditors said that the state of Illinois adopted flawed technique to withdraw Medicaid money that resulted in "a perpetual treadmill effect'" in the usual overdraw of dollars which the state later on had troubles paying back.
In July the new home prices in China slipped for all the major cities and the fall was attributed to the tight mortgage lending rate by the government. Even as the property curbs were eased by the local governments it could not motivate the prospective buyers.
Once again, yet another store falls prey to hackers and this time it is Jewel-Osco which has suffered a massive data-breach. The company's system was hacked and the thieves stole data of the customers which could number in millions. Their personal information can be compromised and misused.
Panama Canal is one of the most magnificent engineering achievements of the world. On Friday the marvellous water way celebrated its 100th anniversary with revelry.
On Friday SeaWorld Entertainment said it will be working towards expanding the habitats of the killer-whales in its theme parks which will begin with San Diego. The SeaWorld San in Diego houses ten orcas or killer whales.
The Brazilian combo of Cutrale-Safra Group had an initiated a bid for Chiquita Brands International Inc. that was rejected by management of the brand. On Thursday contender duo took initial steps to initiate a proxy tussle in its unreceptive takeover attempt.
The drink maker giant Coca Cola said that a new line of beverages is joining the family and it will be laden with energy.
On Wednesday Amazon the online US retail giant unveiled an approach of payment through a card reader for mobile devices. It will be challenging a system that has already been pioneered by Square.
Burger King in the U. S are shelving their 'Satisfries' or the healthier alternatives to the French fries in most of the restaurants which the chain runs in less than a year's time since they were introduced.
Random Acidfree items
- Federer moves to second spot in ATP world rankings post Shanghai Masters win
- Ronaldo scores hattrick as Real thrash Deportivo La Coruna 8-2 in La Liga clash
- Gerrard's late penalty helps Liverpool pip Ludogorets Razgrad in CL fixture
- Leander Paes drops out of top 10 in latest rankings
- Murray disappointed with inconsistency post losing to Federer in Cincinnati quarterfinals