Videos uploaded by user “Wochit Business”
Apple Watch App Will Track Glucose Levels for Diabetics
Already approved by the FDA, a new Apple Watch app is slated to debut in April to help diabetics make sure their blood sugar levels don't go too high or too low. The Wall Street Journal reported Sunday that the app, designed by medical products maker DexCom, will track and display the wearer's glucose levels on the watch in the form of a graph. The goal is to help diabetics easily and quickly read their blood sugar levels by simply glancing at the app. DexCom's glucose monitor uses a tiny sensor placed under the skin to measure glucose levels every five minutes. The app itself is expected to be available in April--the same time the Apple Watch itself will reach consumers. http://www.cnet.com/news/apple-watch-app-will-track-your-glucose-levels/ http://www.wochit.com
Views: 14533 Wochit Business
Walmart Unveils 'Walmart-2-Walmart' Money Transfer Service Between Its Stores With Euronet
Walmart has unveiled a new store-to-store money transfer service launching later this month, aimed at helping its customers send cash to loved ones and directly competing with outfits like Western Union. 'Walmart-2-Walmart' will be operated by Ria Financial Services, a subsidiary of long-established electronic payments company Euronet. "Walmart-2-Walmart offers a clear fee structure with just two pricing tiers: customers can transfer up to $50 for $4.50 and up to $900 for $9.50," said Daniel Eckert, senior vice president of services for Walmart, on a call to investors, analysts and press on Thursday morning. http://www.forbes.com/sites/clareoconnor/2014/04/17/walmart-unveils-walmart-2-walmart-money-transfer-service-between-its-stores-with-euronet/ http://www.wochit.com
Views: 17637 Wochit Business
Last VHS Player to be Manufactured This Month
Japanese manufacturer Funai Electric Corp has announced that it will stop manufacturing VCRs. Funai is the last company in the world making VHS players. The firm says that demand has declined sharply in recent years and it is having trouble sourcing the parts necessary to make new units. DVDs supplanted VHS tapes in the 2000's. Funai says its last Videocassette recorder will roll off the assembly line this month. http://www.geek.com/chips/the-last-new-vcr-will-be-manufactured-this-month-1662669/ http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 16028 Wochit Business
Amazon Will Now Pay You to Deliver Packages
Amazon today launched a new service that pays part-time drivers in exchange for delivering packages. The service, called Amazon Flex, launches today in Seattle, and will soon come to Manhattan, Chicago, and seven other US cities, according to its website. Drivers will be paid $18 to $25 an hour to deliver packages ordered with Amazon Prime Now, the company's one-hour delivery service, though the site suggests it will eventually expand to include other Amazon deliveries. To qualify, drivers must provide their own car, own an Android smartphone, and pass a background check. http://www.theverge.com/2015/9/29/9413787/amazon-flex-package-delivery-seattle http://www.wochit.com This video was produced by O&O Story Selection using http://wochit.com
Views: 45118 Wochit Business
Converse Loses Trademark Infringement Lawsuit Against New Balance
Converse's legal battle with New Balance over trademark rights regarding footwear has been dealt a sever blow, as the International Trade Commission has ruled in favor of New Balance. In the fall of 2014, Converse asserted trademark rights regarding the toe cap, toe bumper and midsole stripe designs in its Chuck Taylor All Star sneakers. The broad trademark infringement case was filed not only against New Balance but also against 32 other footwear manufacturers and retailers. But this recent ITC decision has invalidated Converse’s Chuck Taylor trademarks, noting that numerous companies - including PF Flyers - have used similar designs for decades. In a statement released by New Balance, executive vice president Paul Gauron said, “While New Balance respects competitors’ valid intellectual property rights and enforces its own trademarks in footwear, no single company owns the exclusive right to make classic, athletic footwear with the combination of a toe cap, toe bumper and midsole stripes as Converse claimed in this case.” http://wwd.com/fashion-news/fashion-scoops/itc-rules-converse-trademark-infringement-lawsuit-10490602/ http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 1783 Wochit Business
True Religion Jean Company Attempts To Fix Financial Troubles
Early aughts denim fave True Religion Brand Jeans has filed for bankruptcy in a bid to reduce its debt by over $350 million, the New York Post reports. After several recent attempts to get the company’s finances under control (including shuttering 20 stores and laying off nearly a quarter of its corporate workforce last year), True Religion officially filed a Chapter 11 bankruptcy petition in a Delaware court on Monday. If approved, the filing will allow the brand to remain in business by handing ownership over to creditors. http://www.allure.com/story/true-religion-bankruptcy http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 5798 Wochit Business
Layoffs Begin At Carrier Plant That Drew Trump's Criticism
More than 300 Carrier Corp. workers were being laid off Thursday from the company's Indianapolis factory as part of an outsourcing of jobs to Mexico that drew criticism last year from then-presidential candidate Donald Trump. The nearly 340 workers clocked out after their final shifts at Carrier's gas furnace factory. Another wave of 290 workers will be let go by Dec. 22 under a timetable the company announced in late May. Carrier announced in February 2016 that it would close the Indianapolis plant and cut about 1,400 production jobs in a move expected to save $65 million annually by moving furnace production to Mexico. Trump repeatedly criticized Carrier's Mexico outsourcing plan. Weeks after Trump won the election, Carrier announced an agreement brokered by the president-elect to spare about 800 jobs in Indianapolis, where the company has pledged to keep nearly 1,100 jobs. But some 600 jobs are still being eliminated by the outsourcing. http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2017-07-20-US--Trump-Carrier/id-00ec723d635646c2bdce19a208bb7e2d http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 347 Wochit Business
Tesla 'Insane' Button Gives Unsuspecting Passengers a Wild Ride
You gotta hand it to Tesla CEO and Founder Elon Musk. When he puts an actual "Insane Button" in his new Model S P85D all-electric car, he does not mess around. Unveiled last October, the $120,000 Tesla Model S P85D can park itself — and, with the push of one crazy little button, shoot from 0 to 60 mph in just over three seconds. Now everyone has proof. The drag racing site DragTimes produced and posted a video on Sunday showing unsuspecting passengers reacting to the twin-engine P85D's ability to hit 60 mph and higher in just a few seconds. To put the P85D's performance in perspective, average sports cars can go from 0 to 60 mph in just under 6 seconds. According to Zeroto60Times, some Formula One race cars have been recorded accomplishing the same feat in 1.6 seconds. http://feeds.mashable.com/~r/Mashable/~3/101xkB9AJZ0/ http://www.wochit.com
Views: 7335 Wochit Business
Tesla To Offer Batteries To Consumers For Home Energy Storage
It was just a couple of sentences during Wednesday's 2014 earnings call by Tesla Motors executives. But in it, CEO Elon Musk apparently revealed a new line of business for the company: selling or leasing lithium-ion battery packs for home energy storage. Musk said:"We’re going to unveil the Tesla home battery [indiscernible] consumer battery that will be for use in and [sic] people’s houses or businesses, fairly soon. We have the design done and it should start going into production probably about six months or so. We probably got a date to have sort of product unveiling, it’s probably in the next month or two. It’s really great. I’m really excited about it." It remains unclear whether the "we" in Musk's statement refers to Tesla Motors, or to Solar City, but the Tesla brand might give added cachet to lithium-ion batteries offered to homeowners who already have solar panels installed. http://www.greencarreports.com/news/1096778_tesla-to-offer-batteries-to-consumers-for-home-energy-storage http://www.wochit.com
Views: 142518 Wochit Business
Kraft Heinz bids $143 billion for Unilever in Global Brand Grab
U.S. food company Kraft Heinz made a surprise $143 billion offer for Unilever in a bid to build a global consumer goods giant, even though it was flatly rejected on Friday by the maker of Lipton tea and Dove soap. According to Reuters, a combination like this would be the third-biggest takeover in history and the largest acquisition of a UK-based company. It would bring together some of the world's best known brands, from toothpaste to ice creams, and combine Kraft's strength in the United States with Unilever's in Europe and Asia. Kraft had also offered to keep three headquarters for the combined company in the United States, Britain and the Netherlands. Kraft has until March 17 to make a final bid for Unilever under UK takeover rules. http://feeds.reuters.com/~r/reuters/topNews/~3/FMTOpJjoUcQ/us-unilever-m-a-kraft-idUSKBN15W18Y http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 948 Wochit Business
Imprimis Pharmaceuticals Takes On America's Most Hated Man
According to The Daily Beast, the most despised man in America has met his match. After Turing Pharmaceuticals CEO Martin Shkreli raised the price of the toxoplasmosis drug Daraprim from $13.50 to $750 a pill, it was only a matter of time before another pharmaceutical company undercut him. First, Shkreli promised to lower the price. Two weeks later he has done nothing except to return to Twitter to tell his critics that the process “takes time.” Well, time’s up. San-Diego based Imprimis Pharmaceuticals has announced that it will create a Daraprim alternative using its active ingredients—pyrimethamine and leucovorin—and sell it for just under $1 a pill. Never one to stay silent for long, Shkreli has already mouthed off to press about his new competition. Shkreli said Friday in an interview with Fox Business. "It’s not a threat to us. I think that it’s a publicity stunt. I wish this company the best of luck but I have faith in our team and our competitive standpoint.” http://feedproxy.google.com/~r/thedailybeast/articles/~3/vuzuH7py7pI/hiv-hero-takes-on-price-gouging-pharma-bro.html http://www.wochit.com This video was produced by Wochit using http://wochit.com
Views: 6326 Wochit Business
Signature or PIN? Visa Sues Wal-Mart Over Debit Card Policy Shift
Visa Incoporated filed a lawsuit against Wal-Mart Stores Incorporated on Wednesday. Visa claims the monolithic retailer secretly began testing a protocol that eliminated the need for signature verifications for transactions paid for with a Visa debit card. The lawsuit comes about a month after Wal-Mart had sued Visa, saying the payments network operator was resisting the use of personal identification numbers by customers for purchases made on debit cards at Walmart stores. According to Reuters, a filing in a New York court claimed Visa said Wal-Mart did not disclose the PIN-only policy to Visa and noted a significant drop in debit card transactions at Walmart stores. Visa also received customer complaints on their inability to use their debit cards at Walmart stores without a PIN. http://feeds.reuters.com/~r/Reuters/domesticNews/~3/d7F28zWtrdA/us-walmart-lawsuit-visa-idUSKCN0ZF2V8 http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 1977 Wochit Business
Wendy’s Reacts to $15 Minimum Wage Hike By Replacing Workers With Robots
Last week Wendy’s announced that it’s going to begin installing automated self-service kiosks this year. According to Fox News in Chicago, this is “because of growing labor costs associated with rising minimum wages. California and New York are both raising minimum wages to $15 per hour over the next several years. According to Fusion, White Castle, Carl’s Jr. and McDonald’s are other fast food companies trying out self-service options. Some of these are in response to higher minimum wages--and some aren’t. http://fusion.net/story/302781/wendys-self-service-kiosks-fast-food-automation/ http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 3737 Wochit Business
Toys ‘R' Us Could Reopen!
It seems like not all hope is lost with regard to Toys "R" Us as the company may eventually restart operations in the United States after its controlling lenders decided to cancel the scheduled bankruptcy auction. Last year, news broke out that the struggling retailer may be closing its doors to its loyal customers as it gears up to file for bankruptcy. Soon after, the move became official, and although the stores remained open during 2017's holiday shopping season, which is usually their busiest time of the year, the inevitable happened with over 735 stores all over the country shutting down one by one to the dismay of the brand's patrons. https://screenrant.com/toys-r-us-reopening-bankruptcy/ http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 1367 Wochit Business
Senior HSBC Banker Arrested By FBI For Fraud
On Tuesday the Federal Bureau of Investigation arrested senior HSBC banker Mark Johnson as he attempted to board a transatlantic flight from JFK to London. Johnson, a British citizen and HSBC’s global head of foreign exchange trading, is accused - alongside colleague Stuart Scott - of “defrauding clients” and of having “manipulated the foreign exchange market to benefit themselves and their bank.” Johnson and Scott are accused of weaving a “web of lies” when clients questioned them about higher prices they were forced to pay to bring back proceeds from an overseas transaction. Johnson will be formally charged by a Brooklyn federal judge on Wednesday. https://www.theguardian.com/business/2016/jul/20/hsbc-mark-johnson-stuart-scott-arrested-currency-exchange http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 11368 Wochit Business
American Airlines Will Start Flying Nonstop From LA to Australia
American Airlines will begin offering nonstop service between Los Angeles and Australia's Sydney beginning in December. At the same time, the carrier's airline partner Australia-based Qantas, also announced it willl restart nonstop service between Sydney and San Francisco. Chairman and CEO of American Doug Parker says customers have been requesting flights to important business locations in the Pacific. He added that flying American's flagship Boeing aircraft to Sydney will benefit customers taking off from its key gateway at LAX. American's Boeing 777-300 ER will fly from from Los Angeles International Airport to Sydney. The airplane has First, Business, Main Cabin Extra and economy seating. http://feeds.mashable.com/~r/Mashable/~3/2dDsg_7KtbQ/ http://www.wochit.com This video was produced by Wochit using http://wochit.com
Views: 2716 Wochit Business
Bank of Japan News - Haruhiko Kuroda, TOKYO, Shinzo Abe
Japan likely to nominate ADB's Kuroda for BOJ: Nikkei TOKYO (Reuters) - Japan's government is likely to nominate Asian Development Bank President Haruhiko Kuroda, an advocate of aggressive monetary easing, as its next central bank governor, the Nikkei newspaper reported. The yen plunged 1.4 percent in early trade to 94.67 per dollar by 4.56 a.m. on Monday after the report Prime Minister Shinzo Abe will submit the nominations for Kuroda and two deputy governor posts to parliament this week. The incumbents leave on March 19. ... http://news.yahoo.com/japan-likely-nominate-adbs-kuroda-boj-nikkei-183009393--business.html Japan likely to nominate ADB's Kuroda for BOJ: Nikkei Japan's government is likely to nominate Asian Development Bank President Haruhiko Kuroda, who has called for pumping more money into the economy, as its next central bank governor, the Nikkei newspaper ... http://us.rd.yahoo.com/finance/news/rss/story/SIG=14lvi4b42/*http%3A//us.rd.yahoo.com/finance/news/topfinstories/SIG=12ieclcs5/*http%3A//finance.yahoo.com/news/japan-likely-nominate-adbs-kuroda-183057177.html?l=1 Japan likely to nominate ADB's Kuroda for BOJ: Nikkei TOKYO (Reuters) - Japan's government is likely to nominate Asian Development Bank President Haruhiko Kuroda, who has called for pumping more money into the economy, as its next central bank governor, the Nikkei newspaper reported on Monday. http://feeds.reuters.com/~r/reuters/businessNews/~3/4MGWaRS-Jjk/us-japan-economy-boj-nikkei-idUSBRE91N0DD20130224 ADB's Kuroda pulls ahead in race to lead Bank of Japan TOKYO (Reuters) - Asian Development Bank chief Haruhiko Kuroda is leading the race to become the new governor of Japan's central bank, according to media reports on Sunday, as Prime Minister Shinzo Abe nears a decision on who will head the bank's fight against deflation. The government has said it will decide its nominee this week and Abe was expected to huddle with aides to reach a final decision after returning from a U.S. trip on Sunday. Still, whoever Abe nominates is not certain to get the job because the appointment must be approved by both houses of parliament. ... http://news.yahoo.com/bank-japan-contest-becoming-more-open-race-muto-012126520--business.html http://www.wochit.com
Views: 747 Wochit Business
Subway Stores Are Closing Rapidly Across US
Subway, the world's largest restaurant chain, is suffering from store closures across the United States. The chain's US store count dropped by 909 locations in 2017, nearly three times as many as in 2016. Last week, it was revealed that roughly 400 franchisees were protesting the chain's plan to bring back the $5 footlong deal. On Monday, Subway's head of North American marketing, Karlin Linhardt, resigned from the company. According to an internal memo obtained by the New York Post, traffic has fallen 25% over the last five years. http://www.businessinsider.com/subways-closes-stores-spirals-downwards-2017-12 http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 3640 Wochit Business
Third-Party Sellers on Amazon Have Banner Year
According to the Seattle-based online retailing giant on Wednesday, it was a record-breaking year for third-party retailers on Amazon. In a statement, Amazon said that it delivered over two billion items for third-party sellers in 2016, adding that it shipped 50 percent more items this holiday season for retailers on its Marketplace than in 2015. The online retail company went on to say that there were 70 percent more sellers using its Fulfillment by Amazon service, which handles packaging and shipping for merchants. This service not only helps Amazon get a better hold of customer satisfaction, but also allows third-party sellers to benefit from the Amazon Prime loyalty program. https://www.cnet.com/news/amazons-third-party-sellers-had-a-record-breaking-year/#ftag=CAD590a51e http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 1571 Wochit Business
Warner Music Group Owner Pays $77.5 Million for Manhattan Apartment
According to a New York Times report, Len Blavatnik, Ukrainian born billionaire movie investor and owner of Warner Music Group, has paid $77.5 million for an exclusive New York apartment. The spacious five-bedroom duplex opposite Central Park Zoo on Manhattan's Fifth Avenue topped the previous highest price paid for a city co-op apartment The previous record was set in the summer of 2014 when hedge fund boss Israel 'Izzy' Englander paid more than $71 million for two-level apartment on Park Avenue. The Times further reported that the sprawling apartment, which also boasts five and a half bathrooms, No. 1112A is located on the 11th and 12th floors of 834 Fifth Avenue at the corner of East 64th Street. Citing a real estate agency's listing for the apartment by Sotheby's International Realty and Brown Harris Stevens, monthly maintenance charges for the residence are more than $21,000. http://news.yahoo.com/warner-music-group-owner-pays-77-5-million-221111221.html http://www.wochit.com
Views: 1210 Wochit Business
Graff Diamonds Receives Queen's Award For International Trade
For the fifth time in its history, Graff Diamonds has received the prestigious Queen's Award for Enterprise, the highest accolade for a British company. Graff Diamonds is a luxury jewelry and diamond retailer founded in 1960 by Laurence Graff. The global company has been recognized for its sustained increase in international operations over the past three years. The Queen's Award for International Trade is granted on the advice of the Prime Minister, following a thorough examination of each application by an Advisory Committee composed of leading representatives from industry. The awards are conferred by Queen Elizabeth II each year on April 21, her birthday. http://www.forbes.com/sites/anthonydemarco/2014/04/22/graff-diamonds-receives-queens-award-for-international-trade/ http://www.wochit.com
Views: 2182 Wochit Business
Two New Coal Mines to Be Built in West Virginia and Virginia
According to coal developers, a $90 million investment will open two new mines in West Virginia and Virginia at some point in 2017. On Tuesday, Kentucky-based Ramaco Development announced that it has completed a $90 million deal with two private equity firms to build the mines. In a statement, Ramaco said the mines will extract metallurgical coal, the type used for steel production. The company's CEO Randall Atkins told The AP following the announcement that the mines will create over 400 jobs in regions that have seen unemployment numbers recently rise. http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2016-09-06-US--New%20Coal%20Mines/id-11cab5324e9f4622bf02ec88ec6222cb http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 1633 Wochit Business
BlackBerry to release 2 new Android phones, despite weak Priv sales
BlackBerry's best smartphone in a decade, has not helped the struggling smartphone company rebound. BlackBerry sold just 600,000 of the Priv, which runs Android, between January and March. CEO John Chen blamed the poor sales on the device being "too high-end of a product" at $699. BlackBerry CEO John Chen said the company plans to release two midrange Android phones this year. One will have have a keyboard and one will have a full touchscreen. Last month BlackBerry announced the Priv would be coming to Verizon, T-Mobile and Sprint. But it looks like the company's canceled launch plans for Sprint. http://feeds.mashable.com/~r/Mashable/~3/wUjWbWzaoTg/ http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 7935 Wochit Business
New Cancer Drugs Come At A Steep Price
Newer cancer drugs that enlist the body's immune system are improving the odds of survival, but competition between them is not reining in prices that can now top $250,000 a year. The drugs' success for patients is the result of big bets in cancer therapy made by big pharma. New drugs called checkpoint inhibitors work by releasing a molecular brake, allowing the immune system to recognize and attack cancer cells the same way it fights infections caused by bacteria or viruses. For cancers like melanoma, the treatments can mean long-term survival for around 20 percent of patients. Current checkpoint inhibitors each have a list price near $150,000 a year. A combination of drugs used for advanced or inoperable melanoma, has a cost of $256,000 a year for patients who respond to the treatment. The pharmaceutical industry holds that discussion of prescription drug prices has to take into account the major investment required for innovation and discovery of new lifesaving drugs. http://feeds.reuters.com/~r/reuters/topNews/~3/8zgJrpzhMlQ/us-usa-healthcare-cancer-costs-idUSKBN1750FU http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 169 Wochit Business
Bankruptcy Auction Cancelled As Toys R' Us Plans Revival
According to comicbook.com, Toys "R" Us may not be dead just yet. Everybody's favorite toy giant is reportedly planning a revival. The company has even gone so far as to cancel its brand bankruptcy auction. The controlling lenders of the company have decided to change course. They'll instead try and revive the chain using the Toys "R" Us and Babies "R" Us names. The company explained that it did receive qualified bids for its offerings. These include Geoffrey the Giraffe and the aforementioned store brands. But upon further review, reorganization was the best use of those assets. They also cited recovery to creditors and benefits to stakeholders as reasons to pivot. https://comicbook.com/2018/10/02/toys-r-us-planning-revival-bankruptcy-auction-cancelled/ http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 1217 Wochit Business
Amazon Invites Children’s Book Authors To Kindle Direct Publishing, Rolls Out Kids’ Book Creator Sof
Amazon announced this afternoon that it will be expanding its Kindle Direct Publishing business to support the needs of children’s books authors through a new program it’s calling “KDP Kids.” Along with the program, which is aimed at helping authors prepare, publish and distribute books in the Kindle Store, Amazon is also releasing a new tool, the Kindle Kids’ Book Creator. This tool will allow budding children’s book authors to create chapter books and illustrated children’s books that are able to take advantage of Kindle features like text pop-ups. After the book is finalized, authors can also use the tool to upload the book to KDP while also stipulating the category, age and grade range filters needed to get the book listed correctly. http://feedproxy.google.com/~r/Techcrunch/~3/okvUrx3U0Dk/ http://www.wochit.com
Views: 2050 Wochit Business
Amazon-Whole Foods Deal Finalizes
The Amazon-Whole Foods deal is official now, and so is its effect on the grocery business. The FTC has greenlit the $13.7 billion deal, and Whole Food's shareholders voted to let the acquisition go through. Meanwhile, the United Foods and Commercial Workers International Union filed a letter with the FTC saying the deal would create unfair competition "with nearly every grocery store in the nation," and it looks like investors agree with them. Grocery store stocks dropped an average of 4.04% on Thursday. The hardest hit, Kroger, lost about $1.6 billion of market value in just over an hour. http://markets.businessinsider.com/news/stocks/amazon-whole-foods-grocery-stores-are-getting-whacked-as-deal-finalizes-2017-8-1002283446 http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 603 Wochit Business
Abbott and St. Jude Medical reach $25 billion deal
Abbott Laboratories announced that it will buy medical device maker St. Jude Medical Inc for $25 billion. They deal would put significant weight behind Abbott's planned expansion into the heart and neurological devices business. As part of the merger, current St. Jude shareholders receive $46.75 in cash and 0.8708 Abbott shares, bringing the total offer to about $85 per share. In addition, Abbott Labs promised to assumed St. Jude's approximately $5.7 billion in debt. The companies are excited for the potential growth in the deal, saying it will add add 21 cents per share in profits for 2017 and 29 cents in 2018. Total estimated combined sales for Abbotts new cardiovascular division are projected to be about $8.7 billion. http://feeds.reuters.com/~r/reuters/topNews/~3/9gpFr62oHrg/us-st-jude-medical-m-a-abbott-idUSKCN0XP1H2 http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 1174 Wochit Business
Trump's Failed Taj Mahal Pits Carl Icahn Against Workers Needing Healthcare
Most people lose money at the Trump Taj Mahal – that’s the way casinos work. But if you’re investor Carl Icahn, billionaire owner of Atlantic City’s decaying but still opulent, elephant-fronted Taj, you have some odds in your favor. Icahn bought Republican presidential hopeful Donald Trump’s troubled New Jersey casino operations out of bankruptcy in March. Now he says striking workers have made it impossible to turn around a property that has lost him $100m and he will close the casino after Labor Day on September 5th. According to The Guardian, regulatory filings show he is unlikely to leave the casino out of pocket. As the owner of Trump Entertainment, Icahn is fighting its employees, mainly members of the local branch of hotels and casino union UniteHere. Icahn accuses the union of forcing management into expensive healthcare and retirement plans that pad the union’s coffers. The union says Icahn is a raider who used expensive loans to squeeze the Trump Taj Mahal into bankruptcy and then used the legal proceeding to shaft the workers. The union also points to another Icahn casino – The Tropicana – which earlier this summer agreed to the union’s full benefits package, as did three other Atlantic City casinos that are controlled by rival Caesars Entertainment. https://www.theguardian.com/us-news/2016/aug/12/trump-taj-mahal-strike-bankruptcy-carl-icahn-casino-workers http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 286 Wochit Business
Apple Investing $850 Million in California Solar Farm
Apple Chief Executive Tim Cook said on Tuesday the technology company is investing $850 million to build a solar farm in California with solar panel maker First Solar. Cook said at a Goldman Sachs technology conference in San Francisco that the project in Monterey County, California will provide enough energy for 60,000 homes as well as Apple's head office in nearby Cupertino. Cook said, "We know in Apple that climate change is real. The time for talk is passed. The time for action is now." First Solar, based in Tempe, Arizona, manufactures solar panels and also builds solar power plants, many of which it sells to power producers. http://news.yahoo.com/apple-investing-850-million-california-solar-farm-211230081--finance.html http://www.wochit.com
Views: 3308 Wochit Business
Native American Tribe Plans to Open America's First Marijuana Resort
The Santee Sioux tribe of South Dakota has big plans for the marijuana business. The Associated Press reports, on top of running a successful casino, 120-room hotel and a buffalo ranch, the 400-person tribe has plans to open the nation's first marijuana resort on its reservation. Tribal President Anthony Reider told the AP, "We want it to be an adult playground." "There's nowhere else in America that has something like this." The "playground" will consist of a smoking lounge fit with a nightclub, arcade games, a bar, food and eventually slot machines and an outdoor music venue. http://feeds.mashable.com/~r/Mashable/~3/aDdkY1TWvOM/ http://www.wochit.com This video was produced by Wochit using http://wochit.com
Views: 1763 Wochit Business
How Do Airlines Decide Ticket Prices?
Anyone who's ever had to book a flight knows that airline prices can seem fairly random, with long trips often costing less than short ones, and large fluctuation in price. However, the pricing for airlines is far from random. Through a process called airline revenue management, airlines can adjust fares in real time based on factors like global network conditions and the preference of their passengers. The process is meant to maximize airlines' revenue, and started after the US Deregulation Act of 1978, which allowed prices to become more competitive. http://www.cnn.com/2016/09/16/aviation/airline-pricing-secrets/index.html http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 722 Wochit Business
Poppin' Bottles: Jay Z Buys Part of 'Ace of Spades' Champagne Brand
According to multiple reports, Jay Z has bought a piece of Armand de Brignac, the high-end champagne brand commonly known as "Ace of Spades" that he helped popularize through his music. It is not yet confirmed exactly how much of the brand, produced by France's Champagne Cattier since 1763, he bought. Armand de Brignac champagne is known for its shiny, metallic bottles that are emblazoned with a dark spade, which caused it to be known as Ace of Spades. According to Forbes, Jay Z, whose real name is Shawn Carter, is worth about $520 million. The retail price of a bottle of the champagne runs around $300. As for how much Jay Z paid, details of the deal have not been released; but a spokesperson for Sovereign Brands, the company that sold Jay Z his stake, reportedly said he made an offer the company "simply couldn't refuse." http://feeds.mashable.com/~r/Mashable/~3/kWWbr_J3PqY/ http://www.wochit.com
Views: 5069 Wochit Business
Has Foxconn Begun Replacing Workers With Robots?
Foxconn has been designing robotic arms for use in its factory for years, but the precision has not been good enough for them to fully replace workers, until now. In one of its factories, Foxconn has deployed robots to replace 60,000 of its 110,000 person workforce. The company says the initial investment in robots will reduce labor costs considerably in the long run. Foxconn, which makes products for Apple, Samsung and Sony, denies that the introduction of robots will result in fewer jobs for humans. This appears to be a very strange claim, but Foxconn says it will continue employing people in some parts of manufacturing, as well as areas like research and quality control. http://www.geek.com/news/foxconn-has-replaced-60000-workers-in-one-factory-with-robots-1656337/ http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 924 Wochit Business
Why Elon Musk Should Be The Unlikely Savior Of Lordstown, Ohio
GM announced it is likely to shutter three of its factories soon. One is in Lordstown, Ohio. At the same time, Tesla founder Elon Musk is struggling to keep up with demand for his electric vehicles. According to Business Insider, that presents a promising opportunity for both Musk and Lordstown. Were Musk to take over the plant, he'd have immediate access to skilled workers. He'd also be physically located far closer to the auto supply chain, which is based in the Midwest. And as Tesla has already taken over one defunct GM plant in California, the company knows how it can be done! https://www.businessinsider.com/why-tesla-should-rescue-a-gm-factory-in-ohio-2018-11 http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 376 Wochit Business
Amazon's Going Into Shipping Biz--And UPS, FedEx Shares Drop
Shares of the two largest US shipping companies, UPS and FedEx, are tumbling. The drop came on news that Amazon will launch a competing package delivery service known as “Shipping with Amazon.” Amazon has flirted with shipping its own packages for a while now, most recently in October 2017. Then, shares of UPS and FedEx fell on news of an Amazon program called “seller flex." It's unclear how much of an effect losing Amazon’s business will have on FedEx and UPS. http://markets.businessinsider.com/news/stocks/amazon-shipping-ups-fedex-stock-price-tumbling-reaction-2018-2-1015213025 http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 706 Wochit Business
Stock Market Spoofer Gets Three Years For Fraud
A U.S. judge sentenced high-speed futures trader Michael Coscia to 3 years in prison on Wednesday. According to Reuters, it's a lighter punishment than prosecutors had wanted for the first person criminally convicted of the manipulative trading practice of spoofing. Coscia also was sentenced to three years of supervised release. Prosecutors had asked the judge to jail Coscia for as long as seven years and three months after he was convicted last year of spoofing and commodities fraud. Spoofing is a practice in which traders try to give an artificial impression of market conditions by entering and quickly canceling large buy or sell orders onto an exchange, in an attempt to manipulate prices. Coscia is the owner of New Jersey-based Panther Energy Trading. http://feeds.reuters.com/~r/Reuters/domesticNews/~3/PWkL8mooAK0/us-court-spoofing-sentence-idUSKCN0ZT232 http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 357 Wochit Business
Enbridge Purchases Spectra Energy
On Tuesday, Canada company Enbridge announced that it would buy Houston, Texas' Spectra Energy in an all-stock deal around $28 billion. The deal will reportedly create the largest energy infrastructure company in the United States. Enbridge's pipelines mostly send Canadian oil sands to refiners on the Gulf Coast, while Spectra's network ships natural gas to the East Coast. According to analysts, Enbridge's takeover highlights how pipeline companies are under pressure to merge as they battle with overcapacity and falling tariffs that has slowed growth and worried investors. http://feeds.reuters.com/~r/reuters/topNews/~3/7L1N18Hany4/us-spectra-energy-m-a-enbridge-inc-idUSKCN11C13H http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 1676 Wochit Business
Tesla Motors To Share Patents To Spur Electric Car Development
Tesla Motors Inc on Thursday said it would allow others to use its intellectual property in hopes of speeding up development of electric cars by all manufacturers. Tesla co-founder and Chief Executive Officer Elon Musk said the company would not take legal action against anyone who "in good faith, wants to use our technology." Musk said on the company's website that the industry would benefit from open-source sharing of technologies. "It doesn't really harm Tesla but helps the industry," Musk said on the call, "and I think actually it will help Tesla, mostly with respect to attracting and motivating the world's best technical talent." http://feeds.reuters.com/~r/reuters/businessNews/~3/1g3l5voN60M/story01.htm http://www.wochit.com
Views: 1131 Wochit Business
T-Mobile Introduces New 'Kickback' Program
At the CES 2017 show in Las Vegas on Thursday, T-Mobile introduced a new "Kickback" program which is designed to give customers who don't use much data a credit of $10 a month. The nation's third-largest carrier added that the plan only applies to T-Mobile One unlimited data customers who use less than 2 gigabytes of data a month. The move is a direct response to the criticism T-Mobile faced after it introduced T-Mobile One, a single unlimited data rate plan that faced criticism over eliminating more affordable options for people who don't need that much data. https://www.cnet.com/news/t-mobile-uncarrier-will-credit-low-data-users-10-a-month-ces-2017/#ftag=CAD590a51e http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 2734 Wochit Business
Tyson Foods' CEO to Step Down After Forecast Lower-Than-Expected 2017 Profit
Traders gather at the post that trades Tyson Foods on the floor of the New York Stock Exchange June 3, 2014. Tyson Foods Inc shares tumbled almost 15 percent on Monday after the nation's biggest meat processor forecast lower-than-expected 2017 profit and said Chief Executive Officer Donnie Smith would step down at the end of the year. The seller of Jimmy Dean sausage and Ball Park hot dogs also reported disappointing quarterly results due to increased investment spending, the double whammy of spiking chicken feed costs and lower demand, and a prepared foods production hiccup following the closure of a factory that makes pizza toppings. http://feeds.reuters.com/~r/reuters/topNews/~3/OzLz2BcyWF4/us-tyson-foods-results-idUSKBN13G1AJ http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 552 Wochit Business
BlackRock To Make Move To Hudson Yards
The world's largest asset manager, BlackRock said on Thursday that it plans to move its headquarters in 2022 from midtown Manhattan to a massive new office tower in the fast-growing Hudson Yards district on the city's far West Side. The company entered into a letter of intent to lease 15 floors, or 850,000 square feet, of the 58-story tower, which developers Related Cos and Oxford Properties said will be the city's fourth-largest office tower. BlackRock received a $25 million tax credit from New York state as part of the move on the condition the company create 700 new jobs and retain its current staffing in the city of about 2,700 for a decade. BlackRock currently has offices in two buildings on 52nd Street off Park Avenue, where its leases end in 2023. The new building is expected to be finished a year earlier and include a 400-seat auditorium. http://feeds.reuters.com/~r/Reuters/domesticNews/~3/TtBA5c0f_iU/us-usa-property-hudsonyards-blackrock-idUSKBN13X1VU http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 650 Wochit Business
Panasonic, Tesla To Produce Solar Cells
Panasonic will invest more than $256 million in a New York production facility of Elon Musk's Tesla Motors to make photovoltaic cells and modules, deepening a partnership of the two companies. In a joint statement on Tuesday, the two companies said they plan to start production of PV modules in the summer of 2017 and increase to one gigawatt of module production by 2019. The plan is part of the solar partnership that the two companies first announced in October, but which did not disclose investment details. The U.S. electric car maker is making a long-term purchase commitment from Panasonic as part of the deal, besides providing factory buildings and infrastructure. http://feeds.reuters.com/~r/Reuters/domesticNews/~3/Jg56GzD6obw/us-tesla-panasonic-idUSKBN14G0M6 http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 1574 Wochit Business
Abercrombie & Fitch Launches Throwback Collection
In an attempt to keep up with other brands, Abercrombie & Fitch has launched a new nostalgic collection, hearkening back to its heyday when the brand was commonplace for high schoolers across America. The new spring collection will bring you back to the early 2000s with overalls, track suits, sweatpants, and even bucket hats! The company is also working on renovating its stores, transitioning away from the "bungalow boudoir" aesthetic into a more well-lit open feel. The first of its newly rebranded stores opens in Columbus, Ohio next week. http://www.allure.com/story/abercrombie-fitch-spring-2017-collection http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 1807 Wochit Business
Tumblr Announces Ban On All Adult Content
Tumblr has come under fire in recent years for hosting explicit content. Comicbook.com reports that the website has announced that it will be banning all adult content from its site. According to its latest community update, Tumblr will begin banning explicit content starting December 17. The company clarified what it considers "adult content," saying, “Adult content primarily includes photos, videos, or GIFs that show real-life human genitals or female-presenting nipples, and any content that depicts sex acts.” The website recently had its mobile app removed from iTunes’ App Store. https://comicbook.com/2018/12/03/tumblr-adult-content-ban-controversy-reaction/ http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 1151 Wochit Business
Domino's 'Easy Order' Button Gets Your Pizza to You Faster
Domino's newest delivery innovation is all about speed. Introducing the The Domino's "Easy Order" button. It is a one-click step to getting hot, cheesy goodness to your front door and into your mouth fast. According to Engadget, The button comes in a miniature Domino's pizza box, and it uses Bluetooth to pair with an app. Just save your address and payment details on the Domino's website or app, and pizza will find its way to you with a push of the button. Pizza lovers in the UK will only be able to use it this feature starting in December, but don't worry the second batch will release in February 2016. http://feeds.mashable.com/~r/Mashable/~3/nbDxANdoirM/ http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 4332 Wochit Business
New Ken Dolls Are Now Available
More than a year after Barbie paved the way and finally got the body-positive makeover that brought her into the 21st century, her longtime boyfriend Ken is following suit. On Tuesday, Mattel, the parent company for Barbie, Ken, and all their assorted friends and family members, revealed 15 new Ken dolls as part of its more modern and diverse Fashionistas line. The new lineup features combinations of three different body types, a slim, broad, and original along with seven skin tones, and eight hair colors styled nine different ways. http://www.allure.com/story/ken-dolls-makeover http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 4067 Wochit Business
Consumers Can Now Sue Banks, Credit Card Companies
Under a new federal rule issued Monday, consumers could band together to sue their banks or credit card companies. According to the AP, it's likely to face resistance from Congressional Republicans and the White House. The Consumer Financial Protection Bureau decided to ban most types of mandatory arbitration clauses. The clauses require credit card or bank customers to use a mediator when they have a dispute — often giving up their right to sue in court. Mandatory arbitration clauses are found in the fine print of tens of millions of financial products, from credit cards to checking accounts. http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2017-07-10-APFN-US--Consumers-Arbitration%20Ban/id-b1cd9bbcdb0845e680b4a933ef431385 http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 251 Wochit Business
The 25-Year-Old Making Bank Selling Pencils
In February 2016 a man purchased $4,000 worth of pencils designed to mimic the Blackwing 24, John Steinbeck's favorite. Where did he get the pencils? From 25 year old Caroline Weaver, who owns a shop in New York City's Lower East Side, C.W. Pencil Enterprise. Weaver's shop has over 200 different kinds of pencils, as well as a dozen erasers and sharpeners. However, the shop proudly carries zero mechanicals. http://feeds.mashable.com/~r/Mashable/~3/HLd1ceH_YWc/ http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com
Views: 3363 Wochit Business
Walmart's New Money Transfer Service: Should Banks, Western Union And MoneyGram Be Nervous?
Walmart is blurring the line between banking and shopping as it adds yet another financial service to its stores across the country. The retailer announced this morning that customers can transfer money to and from any of its 4,000 stores in the U.S. and Puerto Rico. Financial services offerings aren't new at Walmart. These days shoppers can head to the retail giant to pick up beauty and household supplies, cash checks, pay bills, reload prepaid debit cards, and now, transfer money across the country. http://www.forbes.com/sites/halahtouryalai/2014/04/17/walmarts-new-money-transfer-service-should-banks-western-union-and-moneygram-be-nervous/ http://www.wochit.com
Views: 8690 Wochit Business

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