Michael Smith
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JPMorgan Chase Officials Respond To New Regulations And Breakup Speculation
JPMorgan Chase officials responded to speculation from investors and analysts earlier this week, offering explanations for allegations of a possible break up induced by new regulations.
Office Depot Expects Sales To Fall This Year As Weak Demand For Office Supplies Continue
Office Depot announced on Tuesday that it expects sales to drop this year due to a weak demand for office supplies and a stronger United States dollar, Reuters reports.
JPMorgan Cuts Up To $100 Billion In Client Excess Deposits
JPMorgan Chase & Co. will cut up to $100 billion in client excess deposits in an attempt to limit the amount of borrowed money the company relies on to prevent future economic crises.
Comcast Reports Rise In Fourth-Quarter Earnings With Increased Broadband Internet Customers
Comcast Corp. announced on Tuesday that its fourth-quarter net income rose 0.6 percent to $1.93 billion, attributing the success to increased broadband internet customers.
Dish Network Chief Executive Joe Clayton Steps Down
Dish Network announced on Monday that Chief Executive Joe Clayton will retire on March 31 and step down from his position, CNBC reports.
Target Decreases Minimum Online Order Size To Boost E-Commerce Sales
Target has decreased its minimum online order size requirement by half, down from $50 to $25, in an attempt to boost e-commerce sales and remain competitive against industry rivals Best Buy, Amazon and Wal-Mart.
Procter & Gamble Cuts Brands In Portfolio Transformation
Procter & Gamble is planning to cut several brands from its portfolio in an effort to simplify its portfolio and focus on profit-inducing brands.
Snapchat Execs Seek New Round Of Funding To Push Company Value To $19 Billion
Snapchat officials are searching for a new round of funding that would make the company as valuable as $19 billion, Bloomberg Business reports, citing a source with knowledge of the initiative.
Berkshire Hathaway Sells 41 Million Shares In Exxon Mobil Corp.
Berkshire Hathaway, owned by billionaire Warren Buffett, sold 41 million shares in Exxon Mobil Corp. (XOM) in the fourth quarter of fiscal year 2014 amidst the global drop in oil prices.
Rolls-Royce Breaks Into Off-Road SUV Market
Rolls-Royce has announced that it will begin producing an off-road sports utility vehicle (SUV), The Telegraph reports, making the company's entrance into the market.
Ferrero International Expected To Receive Over $18.2 Billion In Purchase Offers Following Owner's Death
Ferrero International, the company that produces Nutella spread and Ferrero Rocher chocolates, is expected to receive over $18.2 billion in purchase offers following the death of its founder Michele Ferrero, who passed away on Saturday, Business Insider reports.
Rolls-Royce Responds To Allegations Of Bribery In Brazil, Says It Does Not 'Tolerate Improper Business'
Rolls-Royce has responded to allegations reported by the Financial Times claiming the company paid bribes for a contract with the Brazilian oil firm Petrobras, BBC News reports.
Online Hackers Steal Up To $1 Billion From Banks Around The World
Computer hackers have stolen up to $1 billion from approximately 100 banks in 30 different countries, Russian security company Kaspersky Lab reports, according to the New York Daily News.
Federal Aviation Administration Unveils Regulations On Drone Usage By Corporations
The Federal Aviation Administration (FAA) unveiled proposed regulations on corporate usage of drone technology on Sunday, foretelling the possibility of automated flight becoming more common.
AIG Reports Profit Decrease In Fourth-Quarter Earnings Following Debt Redemption
Insurance company American International Group (AIG) announced a 67-percent profit decrease in its recent fourth-quarter earnings report, citing debt redemption and additions to reserves as the primary reasons for its unfavorable status.