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Netflix Cancels Gypsy Six Weeks After Premiere

Netflix (NASDAQ:NFLX) has canceled its new psycho-drama Gypsy. The announcement comes just six weeks after the show’s premiere. The show will not return for a second season. The streaming giant has not provided a reason for the cancellation The cancellation decision comes after a writers room for Season 2.had been up and running for four weeks. Netflix had reportedly been in conversations with the producers about the second season up until the cancellation. The show debuted on June 30 to mixed reviews. However, critical reception for Gypsy was... 
 

Fake Starbucks Ads Targeting Immigrants Traced To 4chan

The growing anti-immigration sentiment permeating the country leaves newcomers to the United States facing discrimination in ever more imaginative ways. Now, they have to deal with fake Starbucks ads targeting them as well. The fake ads are being used to target “Dreamers,” or people protected under the Deferred Action for Childhood Arrivals (DACA). The fake ads declare Aug. 11 “Dreamer Day.” Some of the fake posters claimed that “undocumented Americans” could visit participating locations and use the coupon code “UNAFRAID”... 
 

Under Armour Beats On Earnings And Sales In Q2

Under Armour Inc. (NYSE:UA) reported a narrower-than-expected second-quarter loss and trimmed its sales forecast for the year in its latest earnings report. The company reported a loss of $0.03 per share for the quarter, less than the $0.12 loss reported in the same quarter the year prior. Analysts had expected a loss of 6 cents, according to Thomson Reuters Sales for the quarter totaled $1.09 billion, up from $1 billion last year. Analysts had predicted sales of $1.08 billion. Apparel growth accelerated this quarter to 11 percent, while footwear... 
 

Starbucks Closing Teavana Stores Across Nation

Starbucks Corp. (NASDAQ:SBUX) has made an announcement that it would close all of its Teavana outlets across the nation over the coming year. Starbucks CEO Kevin Johnson said, “We felt it was an appropriate time to take the decision and begin shutting down those stores.” The move will affect 379 stores and 3,300 employees. Starbucks bought the Teavana chain for $620 million in late 2012. The company now believes that shutting down all its Teavana stores will help it improve its financial performance. The coffee giant said last quarter that many... 
 

Wells Fargo Under Fire For Releasing Sensitive Account Information

Wells Fargo & Co. (NYSE:WFC) mistakenly sent reams of client information to a lawyer representing a former employee. The materials were sent in response to a New Jersey court case involving a defamation dispute between ex-Wells Fargo employee Gary Sinderbrand and his brother, who also worked there. A lawyer for Sinderbrand subpoenaed information from the bank as part of the lawsuit. The documents were mistakenly sent by Angela Turiano, who represents Wells as an attorney at Bressler Amery Ross, to Aaron Miller, Sinderbrand’s lawyer in... 
 

China Has Agreed To Import American Rice For First Time

China has agreed to open its domestic market for U.S. rice exports for the first time in history after a new trade deal was agreed to. Officials from the nations finalized a protocol to allow for the first-ever American shipments, the U.S. Department of Agriculture said in a statement. Shipments to China could start later this year or early next year. The move comes after years of negotiations. Over the years, a variety of political, cultural, bureaucratic, and economic obstacles stood in the way of American farmers accessing the Chinese market.... 
 

Unemployment Claims Up, Slightly, In US

First-time unemployment applications in the United States rose by roughly 4,000 to 248,000 in the last week (ending July 1), over the previous week.  The new figure is also higher than the consensus expectation of 243,000 with a four-week moving average in increasing to this number from 242,250. In addition, the metric for continuing claims in the previous week (ending June 25) increased from a revised 1.948 million to 1.956 million.  This was also slightly higher than expectations, though it is still below the 2 million for the previous 11 consecutive... 
 

New Netflix Series Prompts Calls For Release Of Archdiocese Files

A seven-episode Netflix (NASDAQ:NFLX) documentary series about a priest’s alleged abuse has prompted a petition for the Baltimore Archdiocese to release files related to his tenure. “The Keepers” series focuses on abuse at then-Archbishop Keough High School and the unsolved death of a Catholic nun. The documentary is the latest smash hit on Netflix, highlighting the popularity of true crime stories in America. The priest at the center of the furor is A. Joseph Maskell, who died in 2001. According to the series, Maskell was allegedly... 
 

Private Equity Firm Buying Staples For $6.9B

Private equity firm Sycamore Partners has reached an agreement to acquire Staples (NASDAQ:SPLS) for $6.9 billion. Sycamore’s offer of $10.25 a share represents a 20 percent premium over the company’s stock price in early April, before initial reports of a potential sale emerged. Robert Sulentic, the company’s chairman, said in a statement, “Staples’ board believes that this process has led to a transaction which is in the best interests of our stockholders, as well as Staples and its employees.” Sycamore will borrow much of the money... 
 

EU Commission Levies Record Fine Against Google

EU antitrust regulators have leveled a record $2.7 billion fine against Alphabet’s (NASDAQ:GOOG) Google in a precedent-setting decision defining the company as a monopoly. The fine is the largest the European Union has levied against a company for abusing its dominant position. Google was accused of favoring its own shopping service over others in search results. EU competition chief Margrethe Vestager said, “What Google has done is illegal under E.U. antitrust rules. It has denied other companies the chance to compete on the merits and to innovate.... 
 

Dow And DuPont Win Antitrust Approval From U.S. Regulators

DuPont (DD.N) and Dow Chemical (DOW.N) have won U.S. antitrust approval to merge, according to a recently submitted court filing in the U.S. District Court for the District of Columbia. The all-stock merger was valued at $130 billion. The deal was originally announced in December 2015. The approval was given on the condition that the companies sell certain crop protection products and other assets. The assets to be sold include DuPont’s Finesse herbicide for winter wheat and Rynaxypyr insecticides. Those two assets had U.S. annual sales of... 
 

Sears Announces More Reductions To Its Workforce

Sears Holdings Corp. (NASDAQ:SHLD) is planning to eliminate 400 full-time jobs, according to an announcement from the company. Most of the positions will be eliminated at its Hoffman, Illinois corporate offices and from its support functions. The company said that certain positions at its field operations will also be impacted by restructuring actions. A Sears spokesman said, “The reductions are taking place across various areas of the company. They represent a mix of positions in various business units and roles across the organization.”... 
 

Should Exxon Disclose More Information Regarding Risks Related to Climate Change

BlackRock Inc is the largest asset manager in the world and on Friday, the firm urged for Exxon Mobil Corp to “enhance its disclosures” in regards to its risks in relation to climate change. It was not even two weeks ago that shareholders approved a measure that called for more transparency on the matter of climate change. This is a resolution that is definitely supported by BlackRock, as well as several other institutional funds. In the filing, the company said that various carbon regulation cost estimates, also known as “proxy costs,”... 
 

Aetna Moving Out Of Connecticut After Almost Two Centuries

Aetna has announced that it has started negotiations with a view to moving its headquarters to the capital of Connecticut where it has been based for close to two centuries. The insurance giant’s chief executive officer, Mark Bertolini, disclosed that the firm was negotiating with a couple of states before deciding where to relocate. According to Bertolini, the goal is to broaden access to talent and innovation. “We remain committed to our Connecticut-based employees and the Hartford campus, and hope to have a final resolution by early summer,”... 
 

Wal-Mart Enlists Store Workers As Delivery Drivers

Wal-Mart Stores Inc. (NYSE:WMT) has started testing home delivery using Wal-Mart associates as delivery drivers. The portion of the delivery that occurs between a store or distribution center and the customer’s home is by far the costliest part of delivery. The initiative is expected to lower costs and increase the speed of deliveries. The employees will deliver Walmart.com and Jet.com orders in three U.S. cities. Head of Wal-Mart U.S.’ e-commerce Marc Lore said, “Not only can this cut shipping costs and get packages to their... 
 

US EPA Accuses Fiat Chrysler of Emission Scandal Similar to Volkswagen

Fiat Chrysler Automobiles NV is at odds with U.S. government officials this week over the company’s [non]compliance with federal fuel emissions regulations set on roughly 104,000 diesel-powered SUVs and pickup trucks. Indeed, the US Environmental Protection Agency issued, on Thursday, a “notice of violation” which accused the automaker of failing to disclose the use of some software that the EPA says could be quite similar to the “defeat devices” Volkswagen AG was found to be using, devices that could cheat emissions tsesting on several... 
 

Johnson & Johnson Loses $110M Talc Powder Verdict

Johnson & Johnson (NYSE:JNJ) has been ordered to pay more than $110 million by a St. Louis jury in a case linked to the company’s talcum powder products. After three weeks of testimony, a 12-person jury deliberated for 10 hours before delivering the verdict against J&J. The jury’s verdict included $105 million in punitive damages against J&J. A Virginia woman sued the company, blaming her ovarian cancer on her use of the company’s talcum products. Lois Slemp, 62, said she used J&J’s baby powder and Shower to Shower talc... 
 

New York Times Exceeds Expectations For Q1

Investors are excited about the latest earnings report from the New York Times (NYSE:NYT). The Times reported revenue and earnings that exceeded expectations before trading started on Wednesday. The company increased net income to $13.2 million, or 8 cents per share, in the first quarter. The Times recorded a loss of $8.3 million, or 5 cents per share, in the same period a year earlier. On an adjusted basis, the company earned 11 cents per share. The company posted revenue of $398.8 million in the period, topping the $379.5 million reported for... 
 

Supreme Court Rules In Favor of the City of Miami in Housing Discrimination Case

On Monday, the United States Supreme Court ruled that the city of Miami, FL can sue Wells Fargo and Bank of America, under federal housing law, for allegedly discriminating against minority borrowers. The lawsuit was actually filed in 2013, when the city of Miami contended that both of these banks had targeted potential black and Latino homeowners for mortgage loans of lower favor and higher risk, which ultimately resulted in lots of defaults, foreclosures, and property values across the city. In a 5-3 Supreme Court decision, Miami can be considered... 
 

First NBC Bank Failure Worst Since Financial Crisis

New Orleans-based First NBC Bank (NASDAQ:FNBC) was seized by regulators on Friday, with the Louisiana Office of Financial Institutions handing the bank to the Federal Deposit Insurance Corp. The FDIC will mail $1.4 billion in checks, including interest accrued through Friday, to depositors beginning Monday. No depositor will lose money. First NBC Bank had about $4.74 billion in assets and $3.54 billion in deposits, as of Dec. 31. The event is the costliest bank failure since the financial crisis. The last time the FDIC paid more than $1 billion... 
 

US Durable Goods Shipments on the Rise

Analysts had expected new orders for key US-made capital goods to rise more than they did, in March, but that does not mean things are moving at an unwelcome pace. Since March posts the second straight month of increases in these shipments, analysts are now intimating that perhaps business investment has, in fact, accelerated in the first quarter of this year, in the middle of an energy sector that is still in recovery. According to the United States Department of Commerce, Thursday, orders for non-defense capital goods—not including aircraft,... 
 

Detroit Auto Supplier To Open New Facility, Creating 700 Jobs Next Year

On Monday, a company called Flex-N-Gate Corp broke ground on a new manufacturing facility in Detroit worth upwards of $95 million; a facility which could help put nearly 700 people to work by the middle of next year. Flex-N-Gate owner Shahid Khan is a Pakistani immigrant who made the Forbes list of the 100 wealthiest Americans. He joined Councilman Scott Benson and mayor Mike Duggan for the ceremony, located in the industrial park just to the northeast of the I-94/I-75 interchange. At the ceremony, Duggan comments, “This is the kind of development... 
 

Elon Musk Has a New Company Called Neuralink

You’d think the guy has enough to do but, apparently, Elon Musk is still a little restless. The entrepreneur CEO of Tesla and Space eXploration Technologies is about to take yet another CEO role with a new company. What is this company? Well, it is called Neuralink and, if speculation is correct, it aims to merge computers with human brains for a new kind of human experience. Not too much has been divulged about the concept; at least, not on a broad scale. Musk did say, in an interview published on Thursday, “If I were to communicate... 
 

Medtronic Will Divest Some of Its Businesses to Cardinal Health in $6.1 Billion Deal

On Tuesday, Medtronic PLC announced a new agreement to divest some of its product assets to Cardinal Health Inc. Cardinal will now sell Medtronic’s Patient Care, Deep Vein Thrombosis, and Nutritional Insufficiency businesses which are part of Medtronic’s Minimally Invasive Therapies Group Patient Monitoring and Recovery division. This transaction is expected to close within Medtronic PLC’s second fiscal quarter of 2018.. Of course, the sale is subject to customary regulatory approval as well as achieving various satisfactory customary... 
 

Wells Fargo Still Struggling With Scandal Fallout

Wells Fargo & Co (NYSE:WFC) released quarterly result that show the fallout from its sales practices scandal continues to impact the bank. Wells Fargo’s first-quarter net income was flat at $5.5 billion. On a per share basis, profit rose to $1.00 from 99 cents a year earlier, higher than the average estimate of 97 cents. Revenue fell about 1 percent to $22 billion, lower than the average estimate of $22.32 billion. The results are even more disappointing when compared to the quarterly results of its rivals. JPMorgan and Citi each reported... 
 

JetBlue and Boeing Teams Up To Fund Electric Plane Start for Short Haul Trips

Boeing Co and JetBlue Airways Corp have teamed up to invest in a new startup working to develop an electric-powered aircraft that could greatly transform short air cargo and air travel. The company they are investing in is called Zunum Aero and they are both designing and building planes with as many as 50 seats to make trips in the 700 mile range. They hope to expand this range to 1000 by 2030. According to the company, this new type of aircraft would fill a “vast regional transport gap” in the industry, reducing travel times in the busiest... 
 

ConocoPhillips Announces Divestment Of Some Canadian Assets

ConocoPhillips (NYSE: COP) has revealed its plans to sell off a portion of its Canadian assets to Calgary-based Cenovus Energy Inc. (NYSE: CVE) for $13.3 billion. According to the company, the assets to be sold had a net book value of about $10.9 billion as of Dec. 31. Under the terms of the deal, ConocoPhillips will receive $10.6 billion in cash and 208 million Cenovus shares, valued at $2.7 billion as of March 28. The deal includes ConocoPhillips’ 50 percent nonoperated interest in the Foster Creek Christian Lake oil sands partnership and the... 
 

GameStop Closing Stores After A Rough Quarter

Videogame chain GameStop Corp. (NYSE:GME) reported that its sales and earnings fell by double digits in the latest period. Overall, fourth-quarter profit fell 16 percent to $208.7 million, or $2.04 a share. On an adjusted basis, profit fell to $2.38 a share from $2.40 a year earlier, still topping a Thomson Reuters estimate of $2.28. Fiscal fourth-quarter global sales decreased 13.6 percent to $3.05 billion. Comparable sales declined 16.3 percent, falling in line with analysts’ estimates. The company reported sales declines in almost all of... 
 

Tesla Shares Drop On Investor Concerns

Tesla recently announced fourth-quarter and full-year financial results that dampened investor enthusiasm for the company. The company lost $121.3 million, or 78 cents per share, for the quarter including the last three months of 2016. That was less than half the $320.4 million loss from the year-earlier quarter. On an adjusted basis, Tesla lost 69 cents per share. FactSet polled analysts expected a loss of 53 cents per share. Revenue rose 88 percent to $2.28 billion, beating estimates of $2.22 billion. Sales rose 27 percent from a year ago to 22,252... 
 

Nordstrom Reports Strong Results For Fiscal Fourth Quarter

Nordstrom (NYSE:JWN) released strong results for the fourth quarter of fiscal year 2016, which included the important holiday quarter. Nordstrom reported fourth-quarter adjusted earnings per share of $1.37, beating the $1.15 expected by analysts polled by FactSet. The company reported adjusted earnings per share of $1.00 in the same quarter a year ago. The off-price Nordstrom Rack brand and the e-commerce business continued to drive performance for the company. Same-store sales for the Rack business increased 4.3 percent for the quarter. Nordstrom.com... 
 

Whole Foods Announces Financial Results, Store Closures

Whole Foods Market (NASDAQ:WFM) reported what is arguably its worst performance in a decade in its financial results Wednesday. The company reported fiscal first-quarter adjusted earnings per share of 39 cents, meeting consensus estimates. Sales totaled $4.92 billion, missing the $4.97 billion estimate but up from the same quarter of last year. Same-store sales dropped 2.4 percent last quarter, more than the 1.7 percent decline predicted by analysts. Same-store sales declined 3.2 percent in the current quarter through Feb. 5. The company said it... 
 

Tyson Foods Subject Of Federal Price Fixing Investigation

Tyson Foods (NYSE:TSN) revealed Monday in a filing that the U.S. Securities and Exchange Commission is investigating the company over allegations the American chicken industry colluded to fix prices on broiler chickens. The SEC reportedly served the company with a subpoena on Jan. 20. The company said that it is cooperating with the investigation, which is at an early stage. The SEC declined to comment on the investigation. The new federal investigation was apparently sparked by private lawsuits accusing Tyson, the country’s largest chicken... 
 

Toyota and Suzuki Motor Companies Partner to Boost Business in India

It looks like Toyota has a goal to double its share of India’s passenger vehicle market by 2025. The company’s current market share in the quickly growing economy is only 5 percent, but they should not have much trouble since minivehicle specialist Daihatsu. This is a Toyota affiliate that has picked up in the market recently. Toyota Kirloskar MD, Akito Tachibana said that he has an aim to aim for a joint contribution to resolve social issues and to reach sustainable growth levels with an automobile-driven society. Toyota Motor Corporation... 
 

Mastercard Fined Over RushCard Problems

Mastercard (NYSE:MA) and UniRush, the company that sells RushCard-brand prepaid debit cards, have been ordered to pay $13 million in fines and customer restitution over issues with the cards. The Consumer Financial Protection Bureau announced the enforcement action Wednesday. The total includes $3 million in fines and $10 million in customer restitution. The agency left it up to the companies to decide how much each will pay. The fine stemmed from a 2015 system failure that left thousands of customers unable to access the money in their accounts.... 
 

Lockheed Reaches Deal With President On Fighter Jets

Lockheed Martin Corp. has reportedly reached an agreement with President Donald Trump to reduce the United States’ cost of purchasing the company’s F-35 Joint Strike Fighter aircraft. The Trump administration said on Monday that $600 million in expenses have been eliminated from the contract. According to the administration, the $600 million reduction applies to 90 aircraft, of which the maximum value was $7.2 billion. Very few details have been provided about the agreement. The $600 million reduction could apply to the contract total or to... 
 

Kraft Heinz And Oprah Winfrey Join For Food Venture

The Kraft Heinz Company (NASDAQ:KHC) has formed a joint venture with media mogul Oprah Winfrey named Mealtime Stories, LLC. The joint venture will initially manufacture a new line of “ready to eat refrigerated products” for multiple grocery categories. The new range of readymade meals has been described in the announcement as “food that will make real, nutritious products more accessible to everyone.” Kraft Heinz will develop, manufacture, market and sell the new line in the U.S. What Oprah’s involvement with Mealtime Stories... 
 

Uber To Pay $20M For Deceptive Practices

Uber has agreed to pay $20 million to settle allegations of engaging in deceptive practices. Documents filed by the Federal Trade Commission in San Francisco detailed the agreement. Under the agreement, drivers that were affected by the practices will be issued refunds. The FTC has not yet determined exactly how the issuing of refunds will be accomplished. The complaint detailed instances where Uber had engaged in unfair or deceptive practices. Those deceptive practices included exaggerating how much its drivers could earn and encouraging the drivers... 
 

IBM Beats Expectations For Fourth Quarter

International Business Machines Corp. (NYSE:IBM) has beat analysts’ expectations for its fourth quarter results. The company reported that its fourth-quarter revenue fell 1 percent from the year-earlier period, dropping to $21.8 billion. This was the company’s 19th consecutive quarter of declining revenue. However, this was higher than analysts’ expectations of $21.66 billion in revenue. Net profit edged up nearly 1 percent to $4.5 billion. The company reported earnings per share of $5.01 compared to the average analyst estimate of $4.88.... 
 

JPMorgan Surprises Analysts With Results

JPMorgan Chase & Co. (NYSE:JPM) surprised analysts with its fourth quarter results. Fourth-quarter profit for the bank rose by 24 percent. Net income increased to $6.73 billion, or $1.71 a share, from $5.43 billion, or $1.32, a year earlier. Adjusted earnings per share were $1.62, beating the $1.43 estimate of surveyed analysts. Revenue rose 2 percent to $24.3 billion, higher than the $24.2 billion average estimate. Expenses fell 3 percent to $13.8 billion, compared with an estimate of $14 billion. JPMorgan Chairman and CEO Jamie Dimon said... 
 

Iconix Brand Agrees To Sale Of Sharper Image Brand

Iconix Brand Group (NASDAQ:ICON) has agreed to sell the Sharper Image brand to California-based ThreeSixty Group for $100 million in cash. Iconix Chief Executive Officer John Haugh commented on the deal, saying, “Sharper Image is a strong and widely recognized brand, however, consistent with the vision we outlined during our recent investor day, Sharper Image did not fit into our go-forward strategy.” The deal is expected to close on Friday. Iconix Brand Group said it would use proceeds from the deal to pay down debt. Haugh said, “This... 
 

Amazon Continues Selling Shirt Despite Police Union Objections

Amazon (NASDAQ:AMZN) continues to sell a shirt deemed “offensive” by the Fraternal Order of Police despite objections by the union. The shirt sports the words “Bulletproof: Black Lives Matter” across the chest and is sold by a third-party vendor that supports the Black Lives Matter movement. On Monday morning, the shirt was still listed on the Amazon website, but was “currently unavailable.” FOP President Chuck Canterbury wrote a letter to Amazon CEO Jeff Bezos last week saying “I wanted to let you know that my members are very upset... 
 

Will Praxair and Linde Finally Come Together in $67 Billion Industrial Gas Merger?

Major industrial gas companies—Praxair Inc and Linde AG (of Germany)—have finally culminated two years of courtship, on Tuesday, by agreeing to merge. This will create the biggest player in the industry with an combined market value of $6.66 billion. On Tuesday, the companies said that both executive boards endorsed this combination after back-and-forth negotiations had floundered a bit, earlier this year, over how to relegate the new company. When the Danbury, CT-based Praxair committed to preserving jobs in Germany, on Tuesday, it won the... 
 

Stonewall Kitchen Issue Recall over Salmonella Concern in Powdered Pancake and Waffle Mix

There is another food-borne illness scare today as a second company has recalled canned pancake and waffle mix. Stonewall Kitchen (again, the second company to report this) issued a recall Thursday only a day after Publix Super Markets grocery store chain issued the first of such recalls. The companies said concerns over potential Salmonella contamination was the reason for the recalls. While both companies issued recalls of the same concern, Stonewall Kitchen did not name the powdered milk supplier as the reason for their contamination, a Publix... 
 

Wells Fargo Escaping Fraud Lawsuits Through Arbitration

Wells Fargo’s (NYSE:WFC) push to move lawsuits over the creation of fraudulent accounts into arbitration in recent weeks has enraged regulators and politicians. An investigation found that Wells Fargo employees used customers’ personal information to create unauthorized banking and credit card accounts. The company ultimately agreed to settle the cases brought by federal regulators and the Los Angeles city attorney for $185 million. The far-reaching scandal forced the retirement of its longtime leader, John G. Stumpf. The bank also fired 5,300... 
 

Dr. Pepper Acquires Bai Brands Beverages in $1.7 Billion Deal

Dr. Pepper Snapple Group has just announced the acquisition of Bai Brands for $1.7 billion. This is one of the fastest-growing flavored-water companies in the United States. This deal, of course, could find Bai growing massively in the United States, threatening the already struggling soft drink industry led by Coca-Cola and Pepsi. Indeed, data shows that while soda sales remain on the decline, sales for Bia have soared. In 2015, alone, Bai posted sales of $120 million; this year the company is expected to pass $300 million. Founded only in 2009,... 
 

Tyson Foods Disappoints On Earnings And Revenue

Tyson Foods Inc. (NYSE:TSN) posted disappointing results for earnings and revenue for the fourth quarter of its fiscal year. For its fourth quarter, which ended in October, Tyson posted a profit of $391 million, or $1.03 a share, up from $258 million, or 63 cents a share, a year earlier. Excluding certain items, earnings were 96 cents a share, up from 83 cents. Analysts had forecast per-share earnings of $1.17. Revenue dropped 13 percent to $9.16 billion, lower than the $9.38 billion projected by analysts. Total volume fell 1.1 percent, with chicken... 
 

After week-long, Record-Setting Rally, Financial Stocks Down Following Trump Win

Both the Standard & Poors and the Dow Jones Industrial average posted lower numbers in late morning trading on Wednesday as financial stocks fell on the heels of Donald Trump’s presidential election win, following an impressive seven-day rally. But while those two fell, a slight recovery in technology boosted the Nasdaq index. It is not really that much of a surprise that US stocks have been on a major decline since Trump’s surprising victory, on Tuesday. However, the impact is shocking since the Dow had closed four days in a row... 
 

American Apparel Files Second Bankruptcy

American Apparel (APPCQ) has filed for chapter 11 bankruptcy protection again less than a year after emerging from a previous round of bankruptcy protection. Its British outlets were placed into the equivalent of chapter 11 bankruptcy protection earlier this month. American Apparel will continue to run its business as usual in the United States. Bradley Scher, chairman of American Apparel’s board of directors, said that the bankruptcy filing would have no noticeable effect on day-to-day operations in the United States. In a letter to employees,... 
 

Facebook Ends ‘Ethnic Affinity’ Advertising Feature

Marketers using Facebook Inc.’s (NASDAQ:FB) social media platform will no longer be allowed to buy housing, employment and credit-related ads that target or exclude certain ethnic groups. A report last month from investigative-news site ProPublica sparked the change. The publication claimed it had been able to purchase an ad targeted to Facebook members looking for a home excluding anyone with an “ethnic affinity.” While it isn’t possible to target someone specifically by race, Facebook did allow advertisers to market to people by six “ethnic... 
 

Windstream Holdings Inc and EarthLink Holdings Corp Unanimously Announce Merger

Early on Monday, the board of directors of both Windstream Holdings Inc (Nasdaq: WIN) and EarthLink Holdings Corp (Nasdaq: ELNK) announced the unanimous approval of the merger of the two companies; an all-stock transaction valued at roughly $1.1 billion. Under this agreement, Earthlink shareholders can expect to receive 0.818 shares of Windstream common stock for every single Earthlink share they own. Furthermore, this ratio represents an impressive 13 percent premium over the average exchange ratio of 0.721 over the previous month (which ended... 
 
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