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Bank of America Agrees To $17 Billion Settlement With DOJ

Bank of America Agrees To $17 Billion Settlement With DOJ

Bank of America Corp (NYSE:BAC) has finally agreed to pay close to $17 billion to end investigations into the risky mortgage-backed securities sold by the bank and its units before the financial crisis. The deal could be formally announced as early as today (Thursday), sources familiar with the settlement told Reuters. It will be the largest settlement between the federal ... Read More »

BHP Billiton Limited (BHP) Announces Spin Off; Stock Tumbles

BHP Billiton Limited

Anglo-Australian mining giant BHP Billiton Limited (NYSE:BHP) announced Tuesday that it would spin off some of its assets to form a new $14 billion metals and mining company. Most of those assets were acquired in a 2001 merger. BHP Billiton said the move will help it simplify operations and focus on the most profitable businesses. New York-listed shares of the ... Read More »

Bidding War Begins: Dollar General Outbids Dollar Tree To Acquire Family Dollar

Dollar General Outbids Dollar Tree To Acquire Family Dollar

Dollar General Corp (NYSE:DG) made an unsolicited offer on Monday to acquire Family Dollar Stores, Inc. (NYSE:FDO) for $9 billion in cash. The announcement pushed Dollar General’s stock up by 11.63% to $64.14 on Monday. Family Dollar also surged 4.93% to $79.81 on Monday’s close. Brick-and-mortar retailers have been struggling with weak traffic and a glut of stores. Dollar General ... Read More »

Tesla Motors Inc (TSLA) Extends Model S Warranty To Eight Years

Tesla Motors Inc TSLA Extends Model S Warranty

Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk announced Friday that the company has increased the drive unit warranty on its Model S sedan to eight years, with no limits on miles. The warranty extension now matches Tesla Motors Inc (NASDAQ:TSLA)’s battery pack warranty. It will be retroactive, and will apply even if the owners change over the warranty period. Musk ... Read More »

Yelp (NYSE:YELP) Posted Profits for the First Time

Yelp Posted Profits for the First Time

On July 30, Yelp Inc (NYSE:YELP) announced its second quarter earnings, where the company posted $2.7 million in net profit, its first profit since becoming a public company. The $2.7 million in profit came from total revenue of around $88.8 million, with an earnings per share of $0.04. Yelp is in the business of connecting people. It connects consumers to ... Read More »

Cisco Systems, Inc. (CSCO) To Cut 6,000 Jobs As Profits Continue To Decline

Cisco Systems CSCO To Cut 6000 Jobs

Cisco Systems, Inc. (NASDAQ:CSCO) announced Wednesday that it would cut as many as 6,000 jobs beginning this fall. The layoffs come as the networking company continues to struggle with falling revenue and profits. The latest round of layoffs represents about 8% of its total workforce. Cisco Systems, Inc. (NASDAQ:CSCO) also released its fiscal fourth-quarter results ending July 26. The San ... Read More »

Facebook Is Pushing Oculus Rift to Hollywood Studios

Oculus Rift

After the acquisition of the virtual reality headset Oculus Rift by Facebook (NASDAQ:FB) , it appears that its new owner wants to diversify the target market. Tom Dotan from The Information reported last week that Facebook is having meetings with executives and directors from major Hollywood studios to create content for the Oculus Rift virtual reality headset. Sources close the ... Read More »

Apple Inc. (AAPL) CEO Not Satisfied With The Company’s Workforce Diversity

AAPL CEO Workforce Diversity

Apple Inc. (NASDAQ:AAPL) released its workforce diversity report on Tuesday. The numbers mirror other tech giants in the Silicon Valley. The iPhone maker’s employee survey comes days after Google, Twitter, Yahoo, and other companies released their employee diversity reports. Apple Inc. (NASDAQ:AAPL)’s report was accompanied by a letter from CEO Tim Cook. Cook is apparently not satisfied with the current ... Read More »

Sprint May Withdraw Its Bid To Acquire T-Mobile and Replace the CEO

Sprint May Withdraw Its Bid To Acquire T-Mobile

The wireless carrier Sprint Corp (NYSE:S) is reportedly losing interest in acquiring its rival, T-Mobile (NYSE:TMUS) . Sprint has been trying to buy T-Mobile for more than six months. However, meeting regulatory requirements has been difficult for Sprint, which is owned one of the largest wireless carriers from Japan, Softbank Corp. Softbank currently owns around an 80 percent stake in ... Read More »

Tesla Motors Inc (TSLA) Car Has Some Flaws You Don’t Expect From A $90K Sedan: Consumer Reports

Tesla Motors Inc TSLA Car Has Some Flaws

Tesla Motors Inc (NASDAQ:TSLA) ‘s Model S luxury sedan has garnered glowing reviews from most automobile publications, but all that was based on first impressions rather than long-term use. Having driven it for a few months, Consumer Reports said the car begins to show some flaws after long-term use. Tesla launched the vehicle in 2012. The non-profit ratings magazine said ... Read More »

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