Business

Wells Fargo Owes $97 Million to California Workers

WELLS FARGO ORDERED TO PAY $97 MILLION TO WORKERS FOR VIOLATING STATE LABOR LAWS

1/1Wells Fargo ordered to pay $97 mil. to workers for violating state labor laws Show Caption Hide Caption (CNN) – A federal judge in California gave another black eye to Wells Fargo. She ordered the embattled bank on Thursday to pay more than $97-million in damages to its mortgage employees. They brought a class action lawsuit, claiming the bank did…

Chili’s Reveals Possible Data Breach

CHILI'S CHAIN: SOME PAYMENT INFORMATION COMPROMISED AT "CERTAIN LOCATIONS."

1/1Chili’s chain: Some payment information compromised at “certain locations.” Show Caption Hide Caption (CNN) – Chili’s restaurant chain is the latest company to suffer a data breach The bar and grill released a statement on Saturday informing customers of a “data incident.” The company believes it is limited to between March and April 2018 and only for in-restaurant purchases. Chili’s…

Ford Could Resume F-150 Production

FORD ANNOUNCED FRIDAY WHEN PLANTS THAT MAKE THE F-150 WILL REOPEN

1/1Ford announced Friday when plants that make the F-150 will reopen Show Caption Hide Caption (CNN) – Two days after announcing the temporary closure of another factory, Ford is ready to get the assembly lines running again. The company says employees at its Dearborn, Michigan and Kansas City, Missouri locations should return to work May 18th. Those plants manufacture the…

Plant Fire Could Lead to Ford F-150 Shortage

F-150S COULD BE IN SHORT SUPPLY AFTER PLANT FIRE

1/1F-150s could be in short supply after plant fire Show Caption Hide Caption (CNN) – Ford’s F-150 is the automaker’s best-selling and most profitable vehicle. But the company may have to temporarily shut down production of the truck after a fire at a supplier’s plant in Michigan last week. Ford only has two plants that build the F-150. It already…

Walmart to Buy India’s Flipkart For $16M

WALMART IS BUYING INDIA'S FLIPKART

1/1Walmart is buying India’s Flipkart Show Caption Hide Caption (CNN) – Retail giant Walmart is buying India’s top online retailer, Flipkart. Walmart is purchasing a controlling 77% stake for $16 billion. Walmart has tried to get into India’s market for years. Foreign investment regulations only allowed Walmart to set up wholesale distribution outlets, not actual stores. The purchase also gives…

Apple Closer to $1 Trillion Market Value

APPLE INCHES CLOSER TO BECOMING FIRST U.S. COMPANY TO REACH A 1 TRILLION DOLLAR MARKET VALUE

1/1Apple inches closer to becoming first U.S. company to reach a 1 trillion dollar market value Show Caption Hide Caption (CNN) – Shares of Apple hit an all-time high Monday; as it moves closer to becoming the first U.S. company to reach a one trillion dollar market value. Apple stock surged Friday, when Warren Buffett revealed his investment company, Berkshire…

Nestle Paying $7.2B to Sell Starbucks Coffee

TWO BEVERAGE-BASED COMPANIES JOIN FORCES IN A BILLION-DOLLAR DEAL

1/1Two beverage-based companies join forces in a billion-dollar deal. Show Caption Hide Caption (CNN) – Nestle and Starbucks are joining forces. The companies announced Monday they are forming a “global coffee alliance.” Nestle will pay $7.2 billion in order to globally distribute, market and sell packaged products from Starbucks. This deal only applies to Starbucks’ packaged products sold outside the…

Wells Fargo to Pay $480M in Securities Fraud Lawsuit

WELLS FARGO AGREES TO PAY $480 MIL. TO SETTLE LAWSUIT OVER FAKE ACCOUNTS

1/1Wells Fargo agrees to pay $480 mil. to settle lawsuit over fake accounts Show Caption Hide Caption (CNN) – Wells Fargo bank has agreed to pay $480-million to settle a class-action lawsuit over fake accounts. Investors sued the bank saying it misled them in financial statements related to the scandal. The bank still denies the allegations, but says it agreed…

Amazon is Getting Into The Dog Food Business

AMAZON LAUNCHES DOG FOOD LINE AVAILABLE EXCLUSIVELY TO PRIME MEMBERS

1/1Amazon launches dog food line available exclusively to Prime members Show Caption Hide Caption (CNN) – Amazon already sells household products, furniture and streaming services. And now,  the company wants to feed your dog too. This week, Amazon launched ‘Wag’ a line of dog food available exclusively to Prime members. Prices range from $.2-99 to $44.99.

Tesla Burned Through $700M Last Quarter

TESLA'S CASH STOCKPILE SHRANK BY $700,000,000 LAST QUARTER

1/1Tesla’s cash stockpile shrank by $700,000,000 last quarter Show Caption Hide Caption (CNN) – Tesla burned through $700-million in cash last quarter. The electric Carmaker posted its latest earnings results Wednesday. The filings show Tesla’s money stockpile shrank from $3.4 million to $2.7 million in the first three months of this year. The automaker is struggling to meet demand for…