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New Test For Cancer Detection Under Development

Researchers say they may have developed a test that can detect cancer long before the first symptoms show up. The test scans blood for tumor-specific DNA found in the early stages of cancer. Previous research has shown that dying tumor cells release small pieces of their DNA into the bloodstream. Researchers say that the test identified early-stage cancer in more than half of the 138 patients tested. The study was done by Johns Hopkins researchers. Dr. Victor Velculescu, professor of oncology at Johns Hopkins Kimmel Cancer Center, said, “To... 
 

Hyundai Launching New Fuel Cell SUV Next Year

Hyundai Motor has announced that its second-generation fuel-cell SUV will be launched early next year. The new model has yet to be named. Engineers for the South Korean company carried out testing of two prototypes of the new car in the Snowy Mountains in Australia last month. Hyundai says the new hydrogen fuel cell model has 20 percent better performance and that it has improved the hydrogen storage in the vehicle. The company says the new vehicle will travel more than 360 miles between fill-ups. That is 40 percent farther than its first generation... 
 

Target Announces Bid To Buy Grand Junction

Target Corp. (NYSE:TGT) has announced the planned acquisition of delivery logistics company Grand Junction. The purchase of Grand Junction will help the company achieve its goals for offering same-day delivery service to in-store shoppers. The price that Target intends to pay for Grand Junction has not been disclosed. Grand Junction specializes in software that connects retailers with about 700 delivery companies around the country. Those delivery companies pick up items from stores or distribution centers and deliver them to customers. According... 
 

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... 
 

Snap Inc. Reports Big Loss For The Quarter

Snap Inc. (NYSE:SNAP) missed Wall Street’s expectations for its second quarter as a public company. The company’s net loss ballooned to $443 million, much higher than the $116 million loss reported at the same time last year. On an adjusted basis, the company reported a loss of 36 cents a share, versus predictions of a loss of 33 cents. Snap also fell short of expectations for revenue. The company reported revenue of $181.7 million, versus expectations for $185.8 million. The company’s “other” revenue was $5.4 million,... 
 

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”... 
 

Google Reportedly Looking To Replicate Snap’s Discover Feature

Alphabet Inc’s (NASDAQ:GOOG) Google is reportedly exploring a technology that’s similar to Snapchat’s “Discover”, dubbed “Stamp” by the company. Snapchat’s Discover shows short bursts of media content interspersed with advertisements. The name Stamp is a play on an existing Google product, Accelerated Mobile Pages, or AMP, that allows for faster loading of online news stories. The “St” in Stamp stands for “stories.” The technology would let publishers create visual-oriented media content... 
 

Yelp And GrubHub Reach Deal For Eat24

Yelp (NYSE:YELP) has announced it would sell one of its businesses to GrubHub (NYSE:GRUB), the parent company of Seamless and MenuPages. Yelp agreed to sell Eat24, an online food-ordering business, to GrubHub in a $287.5 million all-cash deal. The price is a little more than double what it bought the company for two years ago. Yelp acquired Eat24 for $134 million in 2015. The deal creates a partnership that allows Yelp users to order online directly from GrubHub, and vice versa. Yelp users will have access to the 55,000 or so delivery listings on... 
 

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... 
 

Uber Announces Changes To Driver Support Systems

Uber is overhauling its driver support systems with a number of new driver support features to respond better to drivers’ complaints. Six new features are being rolled out. The new features were described in an email shared by Uber Head of Driver Experience Aaron Schildkrout and Uber Regional General Manager for U.S. and Canada Rachel Hold. Uber is 35 days into its “180 Days of Change” campaign to improve the driver experience to retain its drivers and recruit new ones. The features of the 180 Days of Change initiative are being rolled out... 
 

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.... 
 

T-Mobile Sees Another Boom In Subscriber Growth

T-Mobile US Inc. (NASDAQ:TMUS) just marked its 17th straight period with more than 1 million net customer additions. The company added more than 1.3 million customers in the second quarter. T-Mobile also posted a record low branded postpaid phone churn of 1.1 percent. More than 800,000 of those customers were branded postpaid subscribers, solidly beating the 596,000 predicted by Wall Street analysts. Prepaid net additions fell to 94,000, a steep decline from the 476,000 added a year ago. T-Mobile’s official customer count declined to 69.5 million... 
 

Netflix Reports Record Subscriber Growth For Q2

Netflix Inc. (NASDAQ:NFLX) surpassed forecasts for subscriber growth in the second quarter of its fiscal year. The company signed up 5.2 million subscribers in the second quarter. That was 2 million more than analysts had forecast. The company reported that 4.14 million of those new viewers came from outside the U.S. Netflix has started to become popular in some of the biggest countries in the world. Netflix began to move overseas in late 2010. It first expanded to Canada, which remains the service’s largest international market. The U.K., Brazil,... 
 

Visa Tries To Jumpstart Cashless Society

Visa (NYSE:V) wants to convince small businesses to stop accepting cash and are prepared to give them money to do it. Visa is calling it the “The Visa Cashless Challenge.” Visa said the program will initially focus on restaurants and food establishments. There is an expectation that Visa will expand the program to other industries, and possibly other countries, in the coming months and years. Restaurants that accept the challenge may receive a $10,000 gift from Visa to help pay for technology upgrades. The program participants will be... 
 

Fiat Chrysler Closing Down Dodge Viper Plant In Detroit

Fiat Chrysler (NYSE:FCAU) is shutting down the plant that built the Dodge Viper by the end of August. FCA’s Conner Assembly Plant in Michigan will close on August 31. In a notice filed with the state of Michigan on June 30, the company said, “The plant closing will be permanent and will involve the entire facility.” The plant has been building the Viper for over 25 years. The 392,000-square-foot plant was built in 1966 and became part of Chrysler in 1995. The Detroit factory makes small numbers of Dodge Vipers by hand. The plant also made... 
 

Snap Inc. Stock Falls Below IPO Valuation

For the first time, Snap Inc. (NYSE:SNAP) stock has fallen below its IPO price of $17. Snap’s stock price fell to an all-time low of $16.99 at market close on Monday. The maker of Snapchat went public in March. The fall means all the investors who bought the app company’s stock at its market debut have officially lost money. Snap’s stock opened its first trading day at $24. Investors were enthusiastic about a company popular with young people for sending fun photo and video messages that disappear. The next day saw an additional 11... 
 

SoundCloud Closes London, San Francisco Offices

SoundCloud has announced that it is closing its offices in San Francisco and London. Co-founder and CEO Alex Ljung revealed the news in a blog post. The company’s operations will be consolidated at its headquarters in Berlin and another office in New York. The company is also laying off 173 employees, which is about 40 percent of its workforce of 420. According to Ljung, the layoffs are effective immediately. The moves are being described as cost cutting measures. SoundCloud has become an indispensable resource for both musicians and many in... 
 

Qualcomm Seeks To Bar Apple Devices From US Market

Qualcomm Inc. (NASDAQ:QCOM) will ask the U.S. International Trade Commission to bar Apple Inc. (NASDAQ:AAPL) from selling some iPhones and iPads in the United States. The San Diego-based company wants the injunction approved on the grounds that the devices infringe on six Qualcomm patents. A related lawsuit was filed in federal court in California to request monetary damages. The injunction would be against Apple products that use chips made by competitor Intel Corp. Intel began supplying chips for some iPhones starting with the iPhone 7. Qualcomm’s... 
 

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.... 
 

Ford Moving Focus Production To China

Ford Motor Co. (NYSE:F) has announced that will be moving some production of its Focus small car to China. The Focus has been built at the Michigan Assembly plant in Wayne, Michigan for years. The current Focus will be phased out of production in Wayne in mid-2018. The company will then import the vehicles to the United States. Ford described the production shift from Mexico to China as a purely financial move. The company says that the move, slated for mid-2019, will save $500 million in reduced tooling costs. Ford now has to retool only one plant,... 
 

Boeing Shows Off New 737 At Paris Air Show

Boeing (NYSE:BA) unveiled a new version of its bestselling 737 aircraft at the world’s biggest air show, held in Paris. The 737 MAX 10 will plug a gap in Boeing’s portfolio at the top end of the market for single-aisle jets. The new aircraft can carry up to 230 people in a single-class configuration. Boeing Commercial Airplanes President and CEO Kevin McAllister said in a statement, “Airlines wanted a larger, better option in the large single-aisle segment with the operating advantages of the 737 MAX family.” He continued, “Adding... 
 

Baby’s First Birthday Gift: Free Flights For Life

Private Indian airline Jet Airways has given free lifetime air tickets to a baby born aboard one of its flight from Saudi Arabia to India. The child’s mother, who was 30 weeks along upon boarding the flight, went into premature labor on Sunday. The airline didn’t reveal the identity of the child’s mother out of respect for her privacy. Jet Airways announced the generous birthday present on Sunday in a social media post celebrating the baby’s arrival. The baby boy was the first baby to be born in-flight for the airline. The carrier... 
 

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.”... 
 

Honda’s Future Plans Hinge On Electric And Autonomous Vehicles

Honda Motor Co. (NYSE:HMC) shared its plans for the future at a media event this week. Honda president and CEO Takahiro Hachigo discussed the plans while speaking about the broader vision for the company over the next 13 years. Honda is currently Japan’s third-largest automaker. According to Hachigo’s statement, Honda intends to have vehicles capable of Level 3 freeway driving available by 2020 and has set a target of 2025 for introducing vehicles with Level 4 autonomous driving capability. The Society of Automotive Engineers defined Level 3... 
 

Supreme Court Puts Limit on SEC “Disgorgement” Collection

On Monday, the Untied States Supreme Court scaled back the power held by the Securities and Exchange Commission to recover profits received through misconduct. This is a notable victory for several Wall Street firms involved with dealings over the US regulators actual powers of enforcement. In an uncontested 9-0 ruling, the Supreme Court found that the recovery method known as “disgorgement” can only have a five-year statute of limitations. The Supreme Court justices took the side of New Mexico-based investment adviser Charles Kokesh. Kokesh... 
 

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... 
 

British Airways Chaos Nears End

The British Airways chaos that stranded 75,000 passengers over a holiday weekend is nearing its end. The airline had been forced to cancel all its flights from Heathrow, Europe’s busiest airport, and Gatwick on Saturday and the disruptions continued on Sunday. Flight compensation website Flightright.com estimated that around 800 flights were canceled at Gatwick and Heathrow on Saturday and Sunday. The chaos started when a power supply problem disrupted the airline’s operations worldwide, including its flight, baggage and communication systems.... 
 

TSA Implementing New Security Measures

The Transportation Security Administration is implementing new screening procedures at airports across the nation. The TSA has been quietly testing a new screening procedure at LAX and nine other airports that more closely examines electronic devices in carry-on bags. Electronic devices larger than a cellphone must be removed from carry-on bags and placed in a separate bin for X-ray screening. These devices include laptops, tablets like iPads, and e-readers. The devices cannot be stacked, allowing agents to view a complete x-ray of each one. TSA... 
 

Facebook Fined In France Over Privacy Violations

Facebook Inc. (NASDAQ:FB) was fined 150,000 euros ($166,000) by French regulators this week for privacy breaches related to its business practices. French data protection authorities determined that Facebook had violated national laws on the dissemination of user data. The 150,000 euro fine is not a big hit to the company, which has quarterly revenue of about $8 billion. However, the amount was France’s maximum privacy fine at the time the case began. The CNIL can now issue fines of up to 3 million euros, after the passing of a new law in October... 
 

Lyft And Waymo Announce Self-Driving Car Collaboration

Lyft and Waymo have announced that they are partnering to test driverless car technology. The companies confirmed the partnership on Sunday. In an email, a Lyft spokeswoman said, “We can confirm that we are partnering with Waymo to safely and responsibly launch self-driving vehicle pilots.” Waymo and Lyft started discussing a partnership last summer, according to people familiar with the deal. A Waymo spokesman said, “We’re looking forward to working with Lyft to explore new self-driving products that will make our roads... 
 

Uber Facing More Regulations In Europe

Europe’s top court has been advised to rule that Uber should be regulated as a transport service, not an app. The recommendation was made by the Court of Justice of the European Union’s (ECJ) Advocate General Maciej Szpunar. The ECJ said that the service provided by Uber amounts to the “organization and management of a comprehensive system for on-demand urban transport.” Szpunar said Uber could not be seen as a mere intermediary between drivers and passengers because it controlled economically important aspects of the urban transport... 
 

Facebook Announces Steps To Combat Fake News In UK

Facebook (NASDAQ:FB) has announced a number of measures it is taking in the UK to combat the spread of fake news and misinformation on its platform. Facebook released a statement saying, “These changes help us detect fake accounts on our service more effectively — including ones that are hard to spot.” Facebook’s director of policy in the UK, Simon Milner, said, “We have developed new ways to identify and remove fake accounts that might be spreading false news so that we get to the root of the problem.” Facebook has been under fire for... 
 

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... 
 

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... 
 

Uber Risked App Store Access To Deceive Apple

Uber CEO Travis Kalanick seems determined to ensure the ride-hailing service wins no matter what, a mindset that has led him into difficulty more than once. The latest story to emerge about his misdeeds involves Uber almost getting kicked out the App Store for deliberately deceiving Apple to violate users’ privacy. Uber started its life as UberCab, a service that began operations in San Francisco in May 2010. Kalanick quickly positioned his start-up as an alternative to the taxi industry and ignored regulations that would have hampered the business,... 
 

Volkswagen Fined $2.8B Over Emissions Scandal

U.S. District Judge Sean Cox has accepted a plea agreement that allows Volkswagen to pay a $2.8 billion criminal fine for purposely cheating on greenhouse gas emissions tests. The $2.8 billion fine is part of a larger $4.3 billion settlement reached between Volkswagen and the U.S. Justice Department in January. Attorneys for both the German automaker and the Justice Department had asked Cox to accept the plea. Cox called the case a “deliberate massive fraud perpetrated by Volkwagen’s management.” Six weeks ago, VW pleaded guilty to criminal... 
 

General Motors Pulls Out Of Venezuela Over Factory Seizure

General Motors (NYSE:GM) has announced that it is ending its operations in Venezuela after its only factory in the country was confiscated yesterday. According to reports, GM was notified this week that an embargo of its plant, bank accounts and other assets in the country had been ordered by a low-level court. Venezuelan news reports said the seizure stemmed from a lawsuit that dated from the early 2000s. GM said that the taking of assets from the plant caused the company irreparable damage. The company said in a statement, “GM strongly rejects... 
 

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... 
 

Tesla Adding New Products To Its Lineup

Palo Alto-based Tesla Inc. (NASDAQ:TSLA) has announced its plans to add more models to its vehicle lineup. Shares of the company jumped nearly 3 percent after the announcement. Tesla’s stock was $304.77 a share in Thursday afternoon trading on Wall Street, valuing the company at $49.2 billion. Tesla plans to unveil an electric semi-truck later this year. Chief Executive Elon Musk said on Twitter, “Tesla Semi truck unveil set for September. Team has done an amazing job. Seriously next level.” Musk indicated that the semi-truck would likely... 
 

United Continental’s Latest Controversy Costs It $550M

United Continental Holdings Inc. (NYSE:UAL) continues to struggle with the fallout over its most recent passenger controversy. On Sunday, a video quickly spread on social media of a United Airlines passenger being forcibly dragged off a plane after the airline randomly bumped him from the flight, angering people across the globe. Shares in the airline fell 2.4 percent Tuesday morning, wiping $550 million off the airline’s market value. The incident occurred on a full United Express flight from Chicago’s O’Hare International Airport to Louisville,... 
 

Volkswagen Reaches Settlement With 10 States

Volkswagen (VLKAY) has announced that it has settled environmental claims with 10 different US states for $157.45 million. The participating states include Connecticut, Delaware, Maine, Massachusetts, New York, Oregon, Pennsylvania, Rhode Island, Vermont and Washington. The attorneys general of those states have all agreed to drop pending litigation against the German automaker. Not every state will receive the same amount of money. The settlement addresses consumer claims alongside state-level ones. As part of the settlement, Volkswagen has also... 
 

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... 
 

Senate Votes To Roll Back Internet Privacy Rules

The Senate has voted to dismantle a set of internet privacy rules approved by the Federal Communications Commission (FCC) last year. The rules were passed under Tom Wheeler, the FCC’s previous chairman, in a party-line vote in the final months of the Obama presidency. The Senate passed the resolution ending those rules in a 50-48 party line vote. The rules under fire required internet service providers to obtain customers’ permission before using their personal information for advertising purposes. Consumers would have to give their consent... 
 
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