Business News

Toyota Settlement Following U.S. Probe

ABJ – Toyota Motor Co. has agreed to pay out a $1 billion settlement over the automaker's handling of consumer complaints tied to unintended vehicle acceleration.  In working with the U.S. Justice Department, it’s expected the Japanese automaker will avoid criminal charges. ...
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Malaysian Airliner Likely in Indian Ocean

ABJ – The missing Malaysia Airlines Flight 370 is more likely to be in the southern search area identified by investigators, which stretches far into the Indian Ocean. If true, conducting a search and recovery effort will be made that much more difficult because it ...
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FTC Opens Herbalife Inquiry

The Federal Trade Commission has initiated an inquiry into the operations of Herbalife following months of repeated requests by Bill Ackman, who calls the company’s distribution model a "pyramid scheme." In this case, it’s alleged the company makes a bulk of ...
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Staples Closing Up to 225 Stores

ABJ – Staples is planning to close up to 225 stores in North America by next year due to a drop in revenue caused primarily by competition from mas market chains and online e-retailers. Staples is the largest supplier of office ...
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$1 Billion in Sales of Apple TVs

ABJ – Apple Inc. CEO Tim Cook says his company managed to sell more than $1 billion worth of Apple TV set-top boxes last year and the first two months of this year continue a rapid sales pace with new upgraded versions on the way. ...
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Yellen Speech More Like a Soft Whisper on Markets

ABJ – American stocks reacted with a collective yawn on Thursday following comments made by Federal Reserve Chair Janet Yellen, which failed to clarify the full  effect of a harsh winter on recent economic weakness. Addressing the Senate Banking Committee, Yellen said ...
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Profits Way Off Target

ABJ – Retail giant Target Corp saw its net profit plummet by almost half in the holiday quarter due in large part to the problems associated with a major data breach of its systems.  Target, which is headquartered out of Minneapolis, Minnesota, has already warned ...
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Chrysler Recalls 9,655 Vans

ABJ – Chrysler Group is recalling an estimated 9,655 full-size vans in North America to replace a part that could lead to the accelerator pedal getting stuck in the wide open position. About half the affected 2014 Ram ProMaster vans are still ...
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LinkedIn Fails to Impress Wall Street

ABJ – Business social media network LinkedIn produced a revenue forecast that has fallen short of Wall Street expectations, sending its stock down. LinkedIn, which is primarily aimed towards business professionals, posted a better than expected 47 per cent increase in fourth-quarter ...
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Twitter’s Stock Tumbles

ABJ – Twitter's stock took a beating on Wednesday after its first earnings disclosure was made after going public. Thursday isn't any better. Investors were less than impressed by the slow growth in the number of active users on the site. Shares immediately traded down ...
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