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Thread: Business news 2019

  1. #211
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    Eighteen people (so far) have died from vaping and nearly 1,100 have suffered lung injuries. Kroger (which includes Ralphs, Fred Meyer, Fry's, Smith's, Dillons and Food 4 Less) and Walgreens are joining Walmart and Sam's Club in halting sales of e-cigarettes.

    Walgreens, Kroger will stop selling e-cigarettes

    https://www.usnews.com/news/health-n...g-e-cigarettes

  2. #212
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    More than 13,000 men have sued Johnson & Johnson because they were not warned that taking Risperdal could cause gynecomastia, an enlargement of the breasts. In the case of Nicholas Murray, the jury awarded $8 billion. That's $4 billion per breast. Of course Johnson & Johnson will seek to overturn the verdict.

    Johnson & Johnson hid with $8 billion jury award over antipsychotic drug

    https://www.msn.com/en-us/money/comp...rug/ar-AAIu80e

  3. #213
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    In 2014, California became the first state to ban single-use plastic bags in supermarkets. We can still get plastic bags for our groceries, though. The bags are larger and thicker – and the stores charge as much as 25¢ each for them. California then declared war on plastic straws, plastic forks and plastic food containers. The battle rages on:

    California bans travel-size plastic shampoo bottles from hotels

    https://www.cnn.com/travel/article/s...rnd/index.html

  4. #214
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    Investors alarmed by trade wars and a global economic slowdown are pulling money from equity funds – $60 billion in the last three months – and putting it into bonds and money-market funds, which have less financial risk.

    Traders are pulling more money out of stock funds than at any point in the last 10 years

    https://markets.businessinsider.com/...-10-1028597189

  5. #215
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    Uber, founded in March 2009 in San Francisco, reported a 2019 second-quarter loss of $5.2 billion. Yikes! Following today's announcement of a third round of layoffs, shares rose $1.01, a gain of 3.35%.

    Uber lays off 350 more workers in last wave of cuts

    https://www.cnn.com/2019/10/14/tech/...ees/index.html

  6. #216
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    Retail sales fell 0.3% in September, the first monthly decline since February. Automobile sales were down and department stores continue to lose business to online sellers.

    US retail sales unexpectedly drop – a warning sign for the economy

    https://www.latimes.com/business/sto...or-the-economy

  7. #217
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    In February 1960, Bil Keane began drawing The Family Circle, so titled because each daily comic was a single circular panel. In August, after the publisher of Family Circle threatened to sue Keene for trademark infringement, the comic was renamed The Family Circus. After Keane died in 2011, his son Jeff took over the strip. The magazine, meanwhile, will cease publication with its issue of December 2019.

    Family Circle, a pillar of women's magazines, will shut down after 87 years

    https://www.nbcnews.com/news/us-news...after-n1067901

  8. #218
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    Hurd spent 25 years with NCR, the last two as CEO. He became CEO of Hewlett-Packard in 2005 and resigned in August 2010 after investigators discovered he'd been submitting inaccurate expense reports. A month later, he was named co-CEO of Oracle.

    Mark Hurd, co-CEO of Oracle and former head of Hewlett-Packard, dies at 62

    https://www.cnbc.com/2019/10/18/mark...ies-at-62.html

  9. #219
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    In the 1980s, Pepsi and Coca-Cola battled for supremacy in what became known as "the cola war." It seems we now have a beer war brewing. (Ouch!)

    Anheuser-Busch alleges MillerCoors stole its recipes and trade secrets

    https://www.msn.com/en-us/money/comp...ets/ar-AAIZtMM

  10. #220
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    Hasbro stock fell almost 17% yesterday after the toymaker said it may have to raise prices because Trump's trade wars and tariffs are eating into its profits. You're familiar with the trade wars and tariffs, right? The trade wars and tariffs that Trump falsely laims are hurting China but not hurting Americans? Boeing, Caterpillar, Chipotle, Snap (parent company of Snapchat), Beyond Meat, Six Flags and Texas Instruments are among the many companies this week reporting slumping sales, lower profits and weak earnings forecasts.

    The trade war is stinging Caterpillar and its outlook is dimming
    CNN Business, Oct 23 2019 11:12 AM

    The world's largest maker of construction and mining equipment warned today that more pain is coming. Caterpillar, a bellwether for the global economy, dimmed its 2019 earnings outlook. The company is moving swiftly to slash production and is exploring ways to cut costs. Caterpillar blamed the gloomy results on a decline in demand from dealers that supply the company's machinery to customers. Dealers slashed their inventories by about $400 million during the quarter. "We believe dealers reduced inventory due to uncertainty in the global economy resulting from trade tensions and other factors," CEO Jim Umpleby told analysts during a conference call. The company's revenue dropped 6% to $12.8 billion, significantly missing Wall Street's expectation for a slight increase.

    https://www.cnn.com/2019/10/23/inves...omy/index.html

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