Company News

Cost Cutting Effort at Macy’s; Job Trimming and Shuttering Shops in the Cards

Cost Cutting Effort at Macy’s; Job Trimming and Shuttering Shops in the Cards

Macy's Inc. suffered its worst holiday sales ever and the disappointed figures forced the retailer to say on Wednesday that it has plans of cutting jobs, relocating staff and exploring other options for its real estate to cut down on the cost. The retailer said it has plans of trimming approximately 4,800 jobs and shut down about forty stores.

FedEx Concedes It will not be Able to Deliver all Packages in Time for Christmas due to Bad Weather and Last Minute Rush

FedEx Concedes It will not be Able to Deliver all Packages in Time for Christmas

In spite of doing their best, FedEx admits that it cannot make all packages delivered on time for Christmas.

Last-minute rush for holiday shipment along with bad weather in certain areas in the U. S has actually made it difficult for FedEx to deliver the huge volumes of packages.

US Court Verdict Says Caterpillar Inc. to Pay $73.6 Million to Miller UK Ltd.

US Court Verdict Says Caterpillar Inc. to Pay $73.6 Million to Miller UK Ltd.

On Friday, a federal jury in Chicago ordered Caterpillar Inc. to pay $73.6 million in damages related to a lawsuit by Miller UK Ltd. The company which is a former supplier of Caterpillar alleged the equipment manufacturer headquartered in Peoria, Illinois of misappropriate its trade secrets.

Berkshire Reported Third Quarter Record Profit Pushed by Gains from Kraft Heinz

Berkshire Reported Third Quarter Record Profit Pushed by Gains from Kraft Heinz

Berkshire Hathaway Inc. reported quarterly profits that almost doubled to touch record high. This mirrors big gains on its stake that the company has in Kraft Heinz Co. Operating profits dropped due to feebler results from insurance underwriting.

Facebook Shares Spike; Quarterly Revenue and Profit Surpass Forecasts

Facebook Shares Spike; Quarterly Revenue and Profit Surpass Forecasts

On Wednesday, Facebook Inc posted strong growth in revenue and profit for the quarter. The largest social network in the world is growing bigger with a larger user base as number of mobile users increase and advertising also lifted its stock to an all-time high.

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