On Friday, chairman of Reliance Industries and India’s richest man emphasized the need for many Indians to move on from 2G technology. In a statement video, Mukesh Ambani mentioned that many Indians are still “trapped” in the 2G technology, keeping them from even basic Internet services as the world is […]
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7-Eleven’s Company Buys Gas Station Speedway
The parent company of 7-Eleven is on the process of acquiring gas station and retail store chain Speedway for $21 billion, via an announcement on Sunday. 7-Eleven plus Speedway Seven & i Holdings company and petroleum refining company Marathon Petroleum Corporation both revealed the all-cash purchase after the deal was […]
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Oldest US Dept. Store Lord & Taylor Files for Bankruptcy
The pandemic is a huge blow to many businesses. And even one of the oldest department stores in the US is among the growing number of retailers that are succumbing to bankruptcy filing during these trying times. Bankruptcy protection Lord & Taylor is one of the more recent businesses to […]
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US Economic Expansion Disrupted by Steepest Decline In GDP
Second quarter economy for the United States is not looking good, reported to a whopping 32.9 percent annual loss in gross domestic product, a significant steep drop for the world’s largest economy. Epic drop As the pandemic continues to disrupt economic activities from all over the world, the US Department […]
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Fed Chair Claims Economic Recovery is Slowing Down
Interest rates are remaining the same, after the Federal Reserves has updated its monetary policy last Wednesday. The US central bank also pledge to put out more efforts to back the economy during the current crisis. Economic support The Federal Reserves has decided to maintain the lending rate to almost […]
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Large EU Banks Are Reserving Billions More as Pandemic Continue
Three of the largest banks in Europe are now setting aside billions more to prepare for a global recession that is hurting economies from different parts of the world. Readying for a storm On an earnings call posted Wednesday, it was reported that the firms namely Banco Santander, Barclays, and […]
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Camera Company Kodak Ventures into Drug Manufacturing
Say cheese! Kodak, a camera company, is venturing into the drug making business. After securing a federal loan of $765 million, the photo camera-focused tech company Kodak is now going to produce components needed for manufacturing generic drugs as part of an effort to minimize dependency of medical needs from […]
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Under Armour Officials Notified by SEC of Possible Civil Charges
Two top executives which include previous CEO of the sports apparel company Under Armour received Well’s Notice that could possibly lead to civil charges over accounting practices years ago at a time of struggle with unimpressive sales. The Wells Notice The company has admitted on an 8K filing that the […]
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Apple Begins Making iPhone 11 Units In India
In its efforts to move away from China, Apple has begun moving its plants to India. Through its partner Foxconn, Apple has started to assemble the iPhone 11 in a plant in Chenna. A source from Apple said that the company wants to ramp up local production in the country. […]
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Mcdonald’s Will Order Customers to Wear Masks Starting August 1
Popular fast food brand McDonald’s announced that they will be requiring their customers to wear masks on their US chains, which would take effect on August 1. The company is among the many nationwide retailers, like Starbucks, Target, and Walmart, to impose mask policies in their outlets and store premises. […]