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Amgen’s New Cholesterol Drug Comes With High Price

Amgen’s (NASDAQ:AMGN) new cholesterol treatment, called Repatha, can cut patients’ stubbornly high cholesterol, but comes at a high price. Repatha is approved to lower LDL, or “bad,” cholesterol by blocking a bodily protein called PCSK9. A new study shows that the cholesterol-cutting drug succeeded in lowering patients’ risk of cardiovascular issues in a clinical trial. In a two-year trial on more than 27,000 patients with heart disease, Amgen’s drug cut the risks of a bad outcome by 15 percent. A bad outcome was defined as heart attack,... 
 

Guilty Plea For Volkswagen In Emissions Case

Volkswagen AG pleaded guilty Friday in a Detroit federal court to criminal charges for cheating on government emissions tests. Volkswagen General Counsel Manfred Döss entered the guilty plea on the company’s behalf before U.S. District Judge Sean F. Cox. The company pleaded guilty to conspiracy to defraud the U.S., commit wire fraud, violate the Clean Air Act, obstruction of justice, and import violations. Volkswagen signed a plea agreement with U.S. Justice Department weeks before the formal court hearings. The plea agreement includes a... 
 

General Motors Exits European Business With Opel Sale

General Motors (NYSE:GM) has announced that it is selling its Opel business to France’s PSA Group for about 2.2 billion euros. PSA is also buying the Vauxhall brand and the European arm of GM’s financial division. The total transaction is valued at about $2.3 billion. According to a statement by the companies, the transaction includes 11 manufacturing facilities and one engineering center that employ about 40,000 people collectively. The operations being sold are responsible for one-tenth of GM’s global sales and 18 percent of its workforce.... 
 

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... 
 

Delta Travelers Soon Getting Another Perk

Travelers flying on Delta Air Lines Inc. (NYSE:DAL) will soon be enjoying another perk. The company announced that it is resuming free meals in coach on 12 transcontinental U.S. routes. The complimentary meals will debut starting on March 1. In the morning, customers will be able to choose from several items, including a honey-maple breakfast sandwich and a fruit-and-cheese plate. At other times of the day, the options will include a turkey combo and a veggie wrap. Customers responded enthusiastically to a test program on select flights for the... 
 

Spotify Relocating Its U.S. Headquarters

Spotify has announced plans to move its U.S headquarters by the beginning of next year. The company will move its New York office and its employees from the Midtown South area of Manhattan to the World Trade Center in early 2018. New York governor Andrew Cuomo said at an event in New York City, “We are proud to welcome Spotify to 4 World Trade Center and to have the future of music be a part of the bright future of our dynamic tech community.” The Governor said Spotify will receive up to $11 million in rent reduction from Empire State Development... 
 

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... 
 

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... 
 

Fiat Chrysler To Invest $1B In U.S. Plants

Fiat Chrysler (NYSE:FCAU) has announced that it will invest $1 billion in two U.S. factories over the next few years, creating 2,000 new jobs. The automaker said it will modernize a factory in the Detroit suburb of Warren, Michigan, to increase production of hot-selling SUVs. It will also upgrade a factory complex in Toledo, Ohio with new equipment to make a new pickup truck. Fiat Chrysler said the factory upgrades would be done in 2020. The company has not disclosed how much would be invested in each plant or how many new jobs would be created... 
 

Tesla Shares Fall On Missed Production Estimates

Tesla Motors Inc. (NASDAQ:TSLA) missed forecasts for fourth-quarter deliveries, sending its shares lower in pre-market trading. The Palo Alto, California-based company delivered about 22,200 vehicles in the final three months of last year, less than the forecasted 25,000 units. The results brought its full-year tally to 76,230 vehicles, lower than its forecast for about 80,000 units. Chief Executive Officer Elon Musk has a bad habit of setting ambitious targets and timelines and coming up short. Nearly every quarter, the company finds itself explaining... 
 

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... 
 

Tesla Reveals Plans For 2017

Tesla Motors Inc. (NASDAQ:TSLA) has announced numerous plans for 2017. Next year will see the launch of the newest Tesla vehicle, the Model 3 sedan. The new model is its first electric car targeted at the masses. Tesla said it received 373,000 reservations for the sedan within a week of opening the preorders earlier this year. Tesla hopes to sell the all-electric sedan for about $35,000, starting late next year. Production on the vehicle will begin in the fall. Musk has given Model 3 suppliers a July deadline to have their parts all ready to go. Also... 
 

Nintendo Releases New Super Mario Game For Mobile

Nintendo has launched the newest member of the popular Super Mario Bros franchise on the iPhone. Super Mario Run was first announced by Nintendo during an Apple event earlier this year. The game became available for iOS users across 151 countries and regions yesterday. Nintendo has said the game will also be launched on Android but has not said when. Super Mario Run is the first game for mobile developed by Nintendo, created through a partnership with mobile gaming firm DeNA. Players control Mario through a series of obstacle courses while collecting... 
 

President-elect Trump Aims To Reign In Defense Spending

President-elect Donald Trump is now taking aim at defense spending in his latest tweets and interviews. Mr. Trump wrote on Twitter this weekend, “Billions of dollars can and will be saved on military (and other) purchases after January 20th,” referring to the day he is sworn in as president. Mr. Trump also told a Fox News Sunday interviewer that the F-35 Joint Strike Fighter program, one of the Pentagon’s costliest programs, was “out of control.” Mr. Trump also criticized the F-35 program while on the campaign trail. Lockheed Martin Corp.... 
 

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... 
 

Airbnb Settles In NYC Over Illegal Listings

Airbnb has abandoned a battle with New York City over a law that affects the state’s apartment residents listing their homes on the site. New York has some of the toughest limits on short-term apartment rentals in the country. A bill passed this summer made it illegal to advertise or post on Airbnb any listings for rentals of whole apartments in shared buildings for fewer than 30 days. Hosts can be fined $1,000 for a first violation of the law and $7,500 for a third. Those types of rentals have technically been illegal since 2010. The law... 
 

Fake Apple Chargers Deemed Dangerous By Standards Agency

Tests commissioned by the UK Trading Standards organization found that all but three of 400 fake chargers sold as being made by Apple (NASDAQ:AAPL) failed basic safety tests. The tests were conducted by Illinois-based firm UL. Leon Livermore, the chief executive of the U.K.’s Chartered Trading Standards Institutes, warned that fakes “could cost you your home or even your life, or the life of a loved-one.” To conduct the tests, investigators bought 400 counterfeit Apple chargers from suppliers around the world from online retailers. The counterfeits... 
 

San Francisco Transit System Hacked Over Weekend

The San Francisco Municipal Transit Agency (MUNI) was hacked over the weekend, causing an outage to the service’s ticketing system. The cyberattack also impacted the Municipal Transportation Agency’s email system. Reports estimate that 2,112 systems were infected. Muni spokesperson Paul Rose said the hack was discovered on Friday. Right now, it is believed that an employee of SFMTA with “admin level” access on the agency’s network downloaded a software keycode generator that carried the malicious code. A brief message left... 
 

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... 
 

Airfare Prices Predicted To Fall In 2017

American Express Global Business Travel, part of the world’s largest travel services company, is predicting that airfares will fall in 2017, according to its annual Global Travel Forecast. Rodolfo Elizondo, Vice President and Head of Global Business Consulting at American Express Global Business Travel believes travelers will welcome the news. However, many suspect that ancillary fees, such charges for baggage or extra legroom, will somewhat offset the lower fares as airlines continue to look for new sources of revenue. According to the forecast,... 
 

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... 
 

Tesla Makes Bombshell Acquisition Announcement

Tesla (NASDAQ:TSLA) recently made an announcement that that it plans to buy Grohmann Engineering, a small German engineering firm based in Prüm, Germany. The company specializes in highly automated manufacturing techniques. After the purchase, the company will be renamed Tesla Grohmann Automation. The Grohmann unit will be part of the new Tesla Advanced Automation Germany group. Tesla said, “We expect to add over 1,000 advanced engineering and skilled technician jobs in Germany over the next two years.” Grohmann currently employs around 700... 
 

Adidas Overhaul To Focus On Reebok Brand

The new boss of Adidas (ADS) announced overhaul plans on Thursday that includes changes to struggling fitness brand Reebok. Chief executive Kasper Rorsted, who took over last month, said Adidas will take one-time costs of around $33 million for restructuring at Reebok to strengthen future growth. Rorsted said on a conference call with investors and analysts, “We’re not going to have eternal patience for seeing results.” Some investors have suggested that Rorsted should consider selling Reebok. Reebok has weighed on Adidas during the decade... 
 

Toyota Jumps Into The Car-Sharing Industry

Toyota (NYSE:TM) has become the latest company to bet on a car-sharing model created by a startup. The company has announced making a $10 million strategic investment through its Mirai Creation Investment Limited Partnership in SF-based car sharing provider Getaround. Getaround was the winner of TechCrunch’s Disrupt Battlefield startup competition in New York in 2011. The platform allows car owners to rent out their own vehicles when they’re not in use to help offset the cost of car ownership. The investment in Getaround is a sign that Toyota... 
 

Tesla Surprises Wall Street With Earnings Beat

Tesla Motors’ (NASDAQ:TSLA) most recent earnings report caught Wall Street by surprise. The company posted its first profit in three years after selling more vehicles than expected. Tesla reported a profit of 71 cents a share for the third quarter. Wall Street had been expecting a loss of 54 cents a share. Revenue rose 145 percent to $2.3 billion in the quarter when compared to the same quarter a year ago. In an August e-mail, Chief Executive Officer Elon Musk pushed workers to cut costs, increase deliveries, and drive the results into positive... 
 

Ariad Pharmaceuticals Under Fire For Leukemia Drug Price Hikes

Ariad Pharmaceuticals (NASDAQ:ARIA) is coming under fire for boosting the price of one of its drugs by more than $80,000 for a year’s supply. Iclusig, a drug used to treat leukemia patients, had a list price for a year’s supply of $114,960 when it was approved in 2012. The medication now has a $200,000 price tag. The company raised the cost of the drug four times in 2016 alone. Lawmakers are demanding to know the justification for the price increase. Sen. Bernie Sanders, I-Vt., and Rep. Elijah Cummings, D-Md., sent a letter to Ariad... 
 

General Electric Reports Mixed Results For Third Quarter

General Electric (NYSE:GE) delivered mixed results for the third quarter of its fiscal year. For the September quarter, GE reported a profit of $2.03 billion, or 22 cents a share, compared with $2.51 billion, or 25 cents a share, a year ago. On an adjusted basis, the company earned 32 cents, compared with 29 cents a year ago. Analysts polled by Thomson Reuters projected 30 cents a share. Revenue rose 4.4 percent to $29.27 billion. Analysts had expected $29.64 billion. Organic revenue, which excludes growth from acquisitions, grew 1 percent in the... 
 

Investor Throws Roadblock In The Way Of Xerox Split

A major investor has filed lawsuit to stop Xerox Corp. (NYSE:XRX) from splitting into two separate publicly traded companies. Billionaire Darwin Deason claims in the lawsuit that Xerox will destroy the value of his stake in the company if the reorganization is allowed to proceed. The lawsuit against the Rochester, N.Y.-based company was filed Oct. 11, 2016. The plan would spin off Xerox’s document outsourcing business into a new publicly traded company called Conduent. The 110-year-old Xerox will continue selling photocopiers and scanners. The... 
 

Goldman Sachs Gets Into Consumer Lending With Marcus Platform

Goldman Sachs (NYSE:GS) has announced the launch of its online lending platform, Marcus by Goldman Sachs. A statement from the bank reads, “Marcus by Goldman Sachs is a new business that benefits from the firm’s 147-year history of financial expertise, risk management and customer service.” The website for the platform went live Thursday. The platform was named after one of the banks founders, Marcus Goldman. There have been months of speculation about how the company would design its consumer lending product. Harit Talwar, head of Marcus... 
 

Tesla Beats Delivery Estimates For Third Quarter

For the third quarter, Telsa (NASDAQ:TSLA) announced that it delivered 24,500 of its electric vehicles. That was a 70 percent increase from last quarter’s delivery of 14,402 and a 111 percent increase from the same quarter last year. Tesla claims that it’ll have 50,000 vehicles by the end of the second half. The company has been taking aggressive measures to keep sales of the Model S and Model X strong. In a press release, the company revealed that 15,800 Model S and 8,700 Model X vehicles were sold in the third quarter. Another 5,500 vehicles... 
 

WHO Data Says Air Pollution Affects 92 Percent of the Populace

The World Health Organization has just released a new—alarming—report suggesting that upwards of 90 percent of the human population lives in areas that have unsafe levels of pollution. The research, of course, underscores the increasing risk that air pollution poses to nearly every single human demographic. According to the WHO, more than 6 million people died in 2012 as a result of ailments caused by or related to air pollution. “Air pollution continues take a toll on the health of the most vulnerable populations — women, children and the... 
 

Lands’ End Embarking On CEO Search

Lands’ End (NASDAQ:LE) CEO Federica Marchionni has stepped down, effective immediately, and the company is now searching for a new CEO, according to a statement from the company. Josephine Linden, board chairman, said in a statement, “Federica is stepping down at this time, leaving Lands’ End well positioned to continue its evolution and capture the growth opportunities that exist for our iconic brand in this dynamic retail environment.” The new chief will be the third since Sears spun off the company in early 2014. Marchionni... 
 

Samsung Recall Of Galaxy Note 7 Now Official

Samsung and the US Consumer Product Safety Commission have announced a formal recall of the Galaxy Note 7. Roughly 1 million phones sold before September 15 have been recalled in the U.S. The company has stopped all sales and shipments of the Note 7. Airlines have banned customers from using them on flights. The company reports that it is working with government agencies and cellular carriers to provide refunds and exchanges for the phone. Problems with the phone’s exploding battery prompted the formal recall. The CPSC has received 92 reports... 
 

Chevrolet Bolt EV Boasts 238 Miles Per Charge

General Motors (NYSE:GM) subsidiary Chevrolet is taking on the 200-mile range Tesla Model 3 electric sedan with its 238-mile range 2017 Bolt EV. The federally tested range of 238 miles per charge is enough to travel from Los Angeles to Las Vegas on a single charge. This is the longest range available for battery-powered cars in that price range. The EPA tests all automobiles sold in the U.S. for fuel economy and automakers are required to provide those numbers to prospective buyers. For electric cars, the agency also publishes average time to recharge... 
 

MasterCard Sued For $18.6B For Excessive Fees

MasterCard (NYSE:MA) is facing a lawsuit in Britain seeking $18.6 billion in restitution for charging excessive fees on millions of transactions over a 16-year period. The suit was filed by law firm Quinn Emanuel on Thursday at the Competition Appeal Tribunal on behalf of Walter Merricks. Roughly 46 million British users of MasterCard credit and debit cards could be eligible for a payout if the lawsuit is a success. According to the details of the lawsuit, MasterCard is accused of charging stores unlawfully high fees on transactions between 1992... 
 

21st Century Fox Settles With Gretchen Carlson For $20M

21st Century Fox (NASDAQ:FOX) has reportedly headed off a lawsuit against its former leader with a settlement agreement said to be worth $20 million. Former Fox News host Gretchen Carlson filed paperwork on Tuesday to dismiss her lawsuit against former Fox News chief Roger Ailes as a result of the settlement agreement. The complaint was first filed in New Jersey state court on July 6. In the complaint, Carlson claimed she was fired from Fox News in retaliation for refusing Roger Ailes’ sexual advances. Carlson reportedly secretly taped some... 
 

Apple To Appeal $14.5B Tax Assessment

Apple (NASDAQ:AAPL) CEO Tim Cook has announced intentions to appeal the $14.5 billion tax assessment levied against his company by the European Commission. The commission ruled that Apple received an unlawful subsidy from Ireland in the form of a preferential tax deal. Apple’s unusual tax structure involved companies which are tax resident nowhere and resulted in a tax rate of less than 1 percent. The Irish government is still considering whether to launch its own separate appeal. The commission has recently turned its focus to tax laws introduced... 
 

Abercrombie Misses On Second Quarter Earnings

Abercrombie & Fitch’s fiscal second-quarter earnings fell short of analysts’ expectations. The company posted a wider-than-expected loss of 25 cents a share during the period. Analysts projected a loss of 20 cents, on average. Abercrombie’s net loss increased to $13.1 million from $810,000 in the year-ago quarter. A same-store sales decline of 4 percent was steeper than the projected 3.8 percent expected by analysts. Comparable sales at Abercrombie fell 7 percent in the quarter, while those at Hollister dropped 2 percent. Net sales fell... 
 

Starting Next Month, T-Mobile Will Offer Only One Plan

T-Mobile U.S. (NASDAQ:TMUS) is doing away its tiered data plans altogether next month, instead focusing on a new unlimited high-speed data plan called T-Mobile One. T-Mobile One begins September 6. While existing users can continue with their current plans, T-Mobile’s will eventually only offer the One plan to new customers. T-Mobile is currently the third largest wireless carrier in the United States. Other large carriers, like AT&T and Verizon, have largely moved away from offering unlimited data because it increases network congestion... 
 

Estee Lauder Misses Estimates In Current Quarter

New York City-based Estee Lauder Cos Inc. (NYSE:EL) reported a smaller-than-expected rise in quarterly sales than analysts expected for the current quarter. Sales in the current quarter are expected to be in the range of $2.86 billion-$2.89 billion, less than the average analyst estimate of $2.94 billion. MAC, Bobbi Brown and Smashbox, which it acquired in 2010, all reported double digit sales growth. Net income fell to $93.5 million, or 25 cents per share, in the quarter. On an adjusted basis, the company earned 43 cents per share. Total revenue... 
 

Wealth in the US Doubled Since 1989 for the Top 10 Percent While Debt Increased along the Bottom

The recession is over. Oh, you didn’t get the memo? That’s ok; most of us didn’t. And that is because only the wealthy have managed to recover, mostly, while the rest of us continue to struggle. According to new analysis from the US Congressional Budget Office, the wealthiest Americans are very close to regaining all of their losses over the period we now call the Great Recession, while the poorest continue to fall deeper and deeper into debt. As a matter of fact, this report actually shows that the wealthiest 10 percent in America... 
 
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