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Georges Gobet | AFP | Getty Images Tablets are pictured on the production line of Bristol Myers Squibb’s pharmaceutical plant of French group UPSA. Bristol-Myers Squibb is making a $74 billion bet — and investors aren’t pleased. The New York-based pharmaceutical giant on Thursday said it would acquire Celgene, a …
Read More »Monthly Archives: January 2019
China annual auto sales fall for first time in about two decades
Fred Dufour | AFP | Getty Images This picture taken on November 22, 2018 shows vehicles at a Hongqi car dealer in Beijing. Auto sales in China fell 3 percent in 2018 — their first decline in about two decades and a mild introduction to even more pain coming for …
Read More »GM Cruise and DoorDash are partnering on autonomous food deliveries
Elijah Nouvelage | Reuters Two self-driving Chevy Bolt EV cars are seen during a media event by Cruise, GM’s autonomous car unit, in San Francisco, California, U.S. November 28, 2017. Food delivery service DoorDash is partnering with General Motors’ self-driving unit Cruise to test autonomous technology for meal and grocery …
Read More »United Airlines bans emotional-support puppies and kittens
Richard Atrero | Anadolu Agency | Getty Images A dog is seen on the lap of its owner in a plane in Chiba, Japan on January 27, 2017. United Airlines will no longer accept emotional-support kittens and puppies under four months of age and will ban emotional-support animals outright on …
Read More »Apple’s suppliers are getting crushed by its lowered revenue guidance
Noah Berger | Bloomberg | Getty Images Tim Cook, chief executive officer of Apple Inc. Apple’s downgraded revenue guidance dragged its stock down more than 8 percent Friday, and brought its suppliers and partners down with it. Guidance cuts from some of Apple’s suppliers gave investors the first whiff of …
Read More »Nancy Pelosi and Democrats take House majority, plan to check Trump
Getty Images House Minority Leader Nancy Pelosi (D-CA) speaks to the media during her weekly news conference, on Capitol Hill March 23, 2017 in Washington, DC. Democrats take a House majority on Thursday, and they plan to quickly change the chamber’s path after eight years of Republican control. The party …
Read More »Coffee startup Luckin plans to overtake Starbucks in China this year
Wang Zhao | AFP | Getty Images A deliveryman carrying bags of coffee walks out a Luckin Coffee in Beijing on August 2, 2018. Chinese coffee startup Luckin is aiming to open 2,500 new stores this year and overtake Starbucks as the largest coffee chain by number of outlets in …
Read More »Yen surged against global currencies after ‘flash crash’
The Japanese yen hit its highest level since March against the U.S. dollar on Wednesday evening after what some traders are calling a “flash crash.” At around 5:35 p.m. ET on Wednesday, Japan’s currency traded around 104.80, up about 4 percent in a sudden move. Earlier in the day, the …
Read More »Here’s Tim Cook’s plan to get more people to upgrade their iPhones
Justin Sullivan | Getty Images Apple CEO Tim Cook (L) takes a picture with David Casarez (R) who just purchased the new iPhone X at an Apple Store on November 3, 2017 in Palo Alto, California. After warning investors to expect lower revenue for Apple’s first quarter earnings, CEO Tim …
Read More »General Motors names long-time insider Mark Reuss as its president
Getty Images Mark Reuss, General Motors Executive Vice President Global Product Development, speaking last January. General Motors named long-time insider Mark Reuss as its president, effective immediately. Reuss formerly led GM’s global product group and Cadillac. His duties will now include overseeing GM’s quality organization. GM reported fourth-quarter sales on …
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