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 Amazon steps further into cars
The Detroit News (Michigan), August 26, 2016 Friday

 The Detroit News's latest foray into the automotive world could be another step toward selling cars online. The online retail giant on Thursday launched Amazon Vehicles, a car-research website that lets customers compare and price new and used cars. It works much like, Kelley Blue Book or Autotrader: Customers can view specifications, prices, pictures, video and reviews for thousands of cars and trucks. Visitors can ask questions about any vehicle listed, and can submit...
 Sears posts Q2 loss as weak sales and cash burn continue; Market share down in many categories, appliances included
Chicago Tribune, August 26, 2016 Friday

 Sears posted a second-quarter loss, with perpetually weak sales overshadowing the retailer's efforts to cut costs and slow its cash burn. CEO Edward Lampert's hedge fund will forward the ailing chain $300 million in additional debt financing.
 VW will repay dealers for losses
The Boston Globe, August 26, 2016 Friday

 Under reported terms of the agreement, Volkswagen will buy back unfixable used vehicles under the same terms as a buy-back plan for consumers and independent dealers. SAN FRANCISCO — Volkswagen AG agreed to pay 652 auto dealerships for their losses from the diesel-cheating scheme that's affected more than a half million cars in the United States.
 Uber loses $1.2 billion in first half of 2016; Subsidies paid to drivers are main factor in global shortfall
The Boston Globe, August 26, 2016 Friday

 SAN FRANCISCO — The ride-hailing service Uber Technologies is not a public company, but every three months, dozens of shareholders get on a conference call to hear the latest details on its business performance from its head of finance, Gautam Gupta.
 Kraft Heinz cutting 200 jobs
Chicago Sun-Times, August 25, 2016 Thursday

 Kraft Heinz confirmed Thursday it is cutting 200 jobs in the United States and Canada.  The food company, which has co-headquarters in Chicago and Pittsburgh, said the layoffs come after merging two IT systems and consolidating the structure of its U.S. operations. The company employs about 42,000 people worldwide.
 Uber Lost $1.2 Billion, and the Year's Only Half Over
The New York Times, August 26, 2016 Friday

 Uber has upended the transportation industry in the span of a few years. But the ride-hailing company has been losing a lot of money while doing so. Uber recorded losses of roughly $1.2 billion in the first half of 2016, according to a person briefed on the company's financial data, who spoke on the condition of anonymity. More than half of those losses, or around $750 million, accrued in the second quarter of this year, said the person.
 Wall Street Slips After Another Day of Lackluster Trading
The New York Times, August 26, 2016 Friday

 Stocks on Wall Street fell in light trading for a second day on Thursday as investors sifted through a mix of earnings reports. The major indexes wavered between small gains and losses in the morning, then moved lower in the afternoon as investors dumped health care stocks. Disappointing earnings from a few retailers helped push down stocks of companies that rely on consumer spending.   The Dow Jones industrial average fell 33.07 points, or 0.2 percent, to 18,448.41. The Standard & Poor's...
 MARKET ROUNDUP; Investors dump healthcare stocks
Los Angeles Times, August 26, 2016 Friday

 Stocks fell in light trading Thursday for a second day. The major indexes moved lower in the afternoon as investors dumped healthcare stocks. Disappointing earnings from a few retailers helped push down shares of companies that rely on consumer spending.
 Can new chief exec fix Viacom?; Thomas Dooley, the No. 2 who was elevated last week, has a tough task.
Los Angeles Times, August 26, 2016 Friday

 For Thomas Dooley, securing the job as chief executive of Viacom Inc. might be the easy part. Fixing the struggling media company will take more work. Late last week, as part of a legal settlement to end a messy boardroom fight with Sumner Redstone and his family, Viacom's board elevated Dooley, the company's second-in-command, to interim chief executive. His current appointment lasts until Sept. 30. Then Viacom's newly expanded board will determine whether to keep Dooley in the job permanently....
 HIGHWAY 1; Hyundai's eco-vehicle takes on the Prius; The South Korean carmaker tries to woo buyers with its Ioniq.
Los Angeles Times, August 26, 2016 Friday

 Hyundai Motors, South Korea's flagship automaker, transformed itself over the decades from bit player to global dynamo. In 1998, the company sold a mere 90,000 cheap and tinny cars to U.S. customers. But that same year, it bought Kia Motors out of bankruptcy. And last year, the two combined sold 809,426 vehicles in the U.S. -- not far behind Nissan and Honda -- by making cars with the looks and quality to compete with the best Japan had to offer. Now Hyundai seeks to take a lead in what it...
 BUSINESS BEAT; Apple boosts iPhone security; The upgrade comes after powerful spyware targets a human rights activist.
Los Angeles Times, August 26, 2016 Friday

 A botched attempt to break into an activist's iPhone using hitherto unknown espionage software has triggered a global upgrade of Apple's mobile operating system, researchers said Thursday. The spyware took advantage of three previously undisclosed weaknesses in Apple's mobile operating system to take control of iPhone devices, according to reports published Thursday by the San Francisco-based Lookout smartphone security company and Internet watchdog group Citizen Lab. Both reports pointed to...
 J.C. Penney adds major appliances
Star Tribune (Minneapolis, MN), August 25, 2016 Thursday

 As Sears continues to limp along, competitors such as J.C. Penney are nipping at its heels. Penney is the latest to try to steal market share from Sears by opening major appliance showrooms.
 Ford recalls 113,000 vehicles for fixes
The Indianapolis Star (Indiana), August 25, 2016 Thursday

 Ford Motor said Wednesday it is issuing recalls to fix more than 113,000 vehicles for various defects, including some for fuel pump issues that could cause cars to stall. Some of the vehicles in the fuel pump recall include about 88,000 of the 2013 through 2015 model-year Ford Taurus, Flex and Police Interceptor and Lincoln MKS and MKT.
 P&G sues another razor manufacturer
The Cincinnati Enquirer (Ohio), August 25, 2016 Thursday

 Procter & Gamble filed a lawsuit Tuesday against one of its rivals, Edgewell Personal Care Co., claiming it falsely advertised one of its Schick razors as equal to or better than Gillette's Mach3 razors.
 Europeans can buy A&F goods via online retailer;
The Columbus Dispatch (Ohio), August 25, 2016 Thursday

 Dateline: NEW ALBANY Abercrombie & Fitch merchandise is about to be made available to European countries through Zalando, a German online fashion retailer that serves 15 markets there and has more than 18 million customers.
 A-B InBev extends deal with Craft Brew Alliance
St. Louis Post-Dispatch (Missouri), August 24, 2016 Wednesday

 Anheuser-Busch InBev has extended its contract with Craft Brew Alliance for another decade and plans to brew more of its beer under a new contract brewing agreement.
 Pfizer's new drug of choice: Acquisitions; Latest deal gives firm the rights to AstraZeneca pills
Chicago Tribune, August 25, 2016 Thursday

 Drugmaker Pfizer is continuing its shopping spree with its fourth acquisition since the April collapse of its planned $160 billion deal to buy rival Allergan and move its headquarters, on paper, to Allergan's base in lower-tax Ireland.
 Wall St. Drops on Drug Makers' Slide
The New York Times, August 25, 2016 Thursday

 United States markets closed lower on Wednesday, led by declines in mining and materials companies, giving back a modest increase from the day before. KEEPING SCORE The Dow Jones industrial average ended the day 0.35 percent lower and the Standard & Poor's 500-stock index fell 0.5 percent. The Nasdaq composite index dropped 0.8 percent.
 Last Shot at EpiPen Profits Ends in a Mylan Monopoly
The New York Times, August 25, 2016 Thursday

 In 2012, the company behind the EpiPen settled a lawsuit by agreeing to allow a generic competitor into the market in 2015, potentially cutting into a big part of its business. The company, Mylan, had already been steadily increasing the price of EpiPen, an injector containing a drug that can save people from life-threatening allergy attacks. After the settlement, it started to raise the price even faster.   Now, as Mylan faces growing public furor over its pricing of EpiPen, the company's...
 Former Director Unveils Disputed Plan to Overhaul the Williams Board
The New York Times, August 25, 2016 Thursday

 The Williams Companies, which recently lost a court battle to preserve a takeover by another pipeline operator, is facing a new fight. This time, it is from a former director who owns a big stake in the company and has an unconventional plan to overhaul the entire board. Keith Meister, the managing partner of Corvex Management, which holds a 4 percent stake in Williams, issued an open letter to the rest of the shareholders on Wednesday and submitted the names of 10 nominees for directors at...
 Thomas Dooley Is Viacom's Best Bet for a Breakup
The New York Times, August 25, 2016 Thursday

 Viacom has one good reason to keep its interim chief executive, Thomas Dooley: a breakup of the media company. Mr. Dooley, the company's former chief operating officer, who has close ties to his predecessor, Philippe Dauman, makes an odd choice if the $17 billion company plans to do anything else. A veteran who has been at Viacom on and off since 1980, though, Mr. Dooley may be well suited to finding the best value for Viacom's various assets.
 Goldman Sachs, Banker to the Elite, Turns to the Common Man
The New York Times, August 25, 2016 Thursday

 It is not just coincidence that after 147 years of serving institutions and the ultra-wealthy, Goldman Sachs has decided that it will start catering to the common man: It is opportunism borne of necessity. The years since the financial crisis have not been particularly kind to Goldman Sachs's moneymaking machine -- not that anyone is weeping for the company or the people who work there -- despite an improving economy and record numbers of corporate financings and mergers and acquisitions. In...
 Pfizer acquires anti-infection drugs from AstraZeneca; Pharmaceutical giant continues buying spree
USA TODAY, August 25, 2016 Thursday

 Pharmaceutical giant Pfizer continued its buying spree in a deal to acquire rights to anti-infection drugs from United Kingdom drug giant AstraZeneca.
 Best Buy bucks glum forecast
Star Tribune (Minneapolis, MN), August 24, 2016 Wednesday

 Talk about rising above low expectations. Best Buy Co.'s shares soared nearly 20 percent on Tuesday - its biggest one-day gain in more than a decade - after reporting a surprising uptick in quarterly comparable sales when investors were expecting a slight drop. "Best Buy continues to defy the skeptics," David Magee, an analyst with SunTrust Robinson Humphrey, wrote in a research report.
 Smucker sees 7% drop in sales, but outlook is confident Foods
Plain Dealer (Cleveland, OH), August 24, 2016 Wednesday

 The J.M. Smucker Co. said its net sales declined 7 percent for the first quarter of its 2017 fiscal year, in part because the company sold off its canned milk business, but that it remains confident in its outlook for fiscal 2017 as a whole.

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