Business

Xerox CEO Jeff Jacobson Quits

XEROX REACHES DEAL WITH INVESTORS THAT KICKS OUT CEO JEFF JACOBSON AND MAKES A MERGER WITH FUJIFILM UNLIKELY.

1/1Xerox reaches deal with investors that kicks out CEO Jeff Jacobson and makes a merger with Fujifilm unlikely. Show Caption Hide Caption (CNN) – Xerox CEO Jeff Jacobson is leaving the company. The move throws the company’s plan to be taken over by Japan’s Fuji-Film into doubt. It’s the result of a deal Xerox reached with activist investors Carl Icahn…

Apple: Slow iPhone Sales

APPLE SELLS FEWER IPHONES THAN PREDICTED, BUT OFFERS BIG GIVEAWAY TO INVESTORS

1/1Apple sells fewer iPhones than predicted, but offers big giveaway to investors. Show Caption Hide Caption (CNN) – Some good news and bad news coming from Apple Tuesday. First the bad news, the tech giant said it sold just over 52 million iPhones in the first three months of this year. While that number sounds strong, analysts had expected the…

Mother’s Day Spending Expected To Reach $23.1B

MOTHER'S DAY SPENDING WILL BE THE SECOND HIGHEST ON RECORD

1/1Mother’s Day spending will be the second highest on record. Show Caption Hide Caption (CNN) – Mother’s Day is just a couple of weeks away, and gifts this year will add up to one of the most expensive years for Americans on record. According to the national retail federation, $23.1 billion will be spent on mothers. This includes more than…

Guitar Maker Gibson Files For Bankruptcy

ICONIC GUITAR MAKER GIBSON FILES FOR CHAPTER 11 BANKRUPTCY BUT HAS A PLAN TO GET BACK ON ITS FEET

1/1Iconic guitar maker Gibson files for Chapter 11 bankruptcy but has a plan to get back on its feet Show Caption Hide Caption (CNN) – Iconic American guitar manufacturer Gibson has filed for Chapter 11 bankruptcy. According to paperwork filed in Delaware on Tuesday, the company has at least $100 million of debt, and perhaps as much as $500 million….

McDonald’s Posts Strong Sales as Prices Increase

MCDONALD'S SEES STRONG SALES NUMBERS AFTER INCREASING PRICES

1/1McDonald’s sees strong sales numbers after increasing prices Show Caption Hide Caption (CNN) – McDonald’s is still posting strong sales after raising its prices. The fast food restaurant has been emphasizing its trademark value options, but raising prices for burgers, fries and other items elsewhere on the menu. Shares of McDonald’s rose 5% t in early trading Monday. Its stock…

Report:Marathon Petroleum To Buy Andeavor

MARTHON IS PREPARED TO PURCHASE A MAJOR PIPELINE AND REFINING COMPANY

1/1Marthon is prepared to purchase a major pipeline and refining company. Show Caption Hide Caption (CNN) – Marathon petroleum corporation is making a major purchase. The Ohio-based company is set to buy Andeavor, a pipeline and refining company, according to the Wall Street Journal. The paper also reports the deal is worth more than $20-billion. According to sources familiar with…

T-Mobile and Sprint Agree to Merge

T-MOBILE AND SPRINT ANNOUNCE MERGER AGREEMENT

1/1T-Mobile and Sprint announce merger agreement Show Caption Hide Caption (CNN) – T-Mobile and Sprint have agreed to merge after years of negotiations. The combined company would take on T-Mobile’s name and leave just two other major wireless carriers in the U.S.: Verizon and AT&T. T-Mobile CEO John Legere will head the merged company. Legere said the firm will hire…

Costs are Rising For Coke and Hershey’s

COKE AND HERSHEY'S COSTS ARE GOING UP. WILL YOU PAY MORE?

1/1Coke and Hershey’s costs are going up. Will you pay more? Show Caption Hide Caption (CNN)  – Your chocolate and soda habits may soon cost you more. Companies like Coca-Cola and Hershey say higher shipping and raw materials prices are squeezing profit margins. Coke said this week that shipping costs in North America have risen 20% from a year ago….

Disney World Hiring 3,500 Workers for Summer

DISNEY WORLD IS HIRING 3,500 PEOPLE

1/1Disney World is hiring 3,500 people Show Caption Hide Caption (CNN) – The happiest place on earth is hiring. Disney World in Orlando, Florida, is looking to fill 3,500 positions in time for the busy summer season. Full-time, part-time and seasonal jobs are available. The resort is offering hefty signing bonuses for some of the positions. Culinary specialists could get…

Subway Closing 500 Stores

SUBWAY PLANS TO CLOSE ABOUT 500 U.S. STORES THIS YEAR WHILE ADDING MORE THAN A 1,000 STORES OUTSIDE NORTH AMERICA

1/1Subway plans to close about 500 U.S. stores this year while adding more than a 1,000 stores outside North America Show Caption Hide Caption (CNN) – Subway is closing more U.S. stores while expanding internationally. The chain says it will shut down about 500 stores this year, on the heels of hundreds of closures over the last two years. Subway…