All Entries Tagged With: "business news"
Avis Budget Offers $1.3 Billion to Buy Dollar Thrifty, Topped Hertz Bid
Avis Budget Group Inc. declared recently an offer of $46.50 per share or $1.3 billion bid to buy Dollar Thrifty Group which surpassed the Hertz Global Holdings Inc.’s deal. The bid includes $39.25 in cash and 0.6543 shares of Avis stock. However, the offer was still under Dollar Thrifty’s closing price of $48.68 a share [...]
Northwest Airlines to Pay $38 Million for Air Cargo Price Fixing Conspiracy
The Department of Justice recently announced that the Northwest Airlines LLC was proven guilty and agreed to pay a $38 million penalty charge for conspiring to fix prices for air cargo transportation. Northwest Airlines Cargo is currently facing one-count felony charges in the U.S. District Court for the District of Columbia. Northwest Airlines Cargo is [...]
Credit Unions Celebrate as House Panel Reconsidered Internet Gambling Bill
Credit unions celebrate after the House Financial Services Committee provided its approval for the legalization of the controversial internet gambling. The congress is thinking of the possibility that Internet gambling could be a good source of revenue in a stagnant economy. The bill was approved by the majority of lawmakers with 41-22 votes. The credit [...]
American Express Net Nearly Triples Profit By Denying Bad Credit
Last Thursday American Express Co. reported second-quarter earnings that tripled from its previous profit gained. The New York-based credit card company and payment network reported net income of $1.02 billion, or 84 cents per share which was ahead of analysts expectations of 78 cents a share. This is a huge profit development compared to the [...]
Jobless and Unemployment Claims Rise to 464,000 Surpassing Estimates of 459,000
The ratio of jobless Americans applying for the first ever unemployment benefits surged to 464,000 last week, according to U.S Labor Department report Thursday. That was higher than a consensus of economists expected and slightly above the average for the year. This is also quite a jump from the 429,000 from last week. The data [...]
Swedbank Declared Above Expected Profits
The Swedish banking group Swedbank publicized an above as expected second-quarter company operation operating profitability on Thursday as loan losses came in well below expectations, according to Reuters. The bank, which is expected to post a full-year profit after spending 2009 in the red, said it believed results would continue to increase, and assumed that [...]
Environment-Friendly Car Rental? Bluebird Auto Rental Systems Powered with Solar Energy
Bluebird Auto Rental Systems and its subsidiary Bluebird Technologies coordinated a ribbon-cutting ceremony Tuesday to honor the installation of its new solar-powered electric system. Rockaway Township’s Mayor Louis S. Sceusi was present at the a ribbon-cutting ceremony, as well as Bluebird President, Angela Margolit, and The Solar Center’s CEO Ed Steins, including Bluebird and The [...]
Fresh Express Recalls Romaine Lettuce Products Due to E.coli Contamination
Salinas, California-based Fresh Express announced that they are recalling three to six ounce products containing Romaine lettuce, which includes products such as Romaine hearts and premium Romaine salad mixes, among others. The recall includes products with an expiration use-by date of July 8th through July 12th, and with Fresh Express Product Code “S”. Luckily, there [...]
Vaseline’s Facebook Skin-Whitener App for India
Skincare Company, Vaseline introduced its new skin-whitening cream for Indian men on Facebook, with a handy widget that lightens profile photos. The product was called, “Vaseline Men be Prepared,” and the company promises to “Transform Your Face On Facebook” with a fairer complexion, and pimples-free. The advertising campaign is fronted by an image of Bollywood [...]
Auto Sales Picks Up Momentum In May
Auto majors in the United States are upbeat with the new-car sales exceeding all expectations in May. With the notable exception of Toyota Motors, sales figure has gone up by at least 17.5 percent across the board.