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Qualcomm Issues Statement On Apple Complaint

SAN DIEGO (dpa-AFX) - Qualcomm Incorporated (QCOM) said the claims made by Apple in its lawsuit against the company are baseless. On Friday, Apple filed a $1 billion lawsuit against Qualcomm in U.S. alleging non-payment of promised rebates. "Apple has intentionally mischaracterized our agreements and negotiations, as well as the enormity and value of [...]

Pizza Hut Plans Hiring Spree For Super Bowl

WASHINGTON (dpa-AFX) - Pizza Hut is planning to hire about 11,000 employees for the Super Bowl in order to meet high demand for its pizzas. The Super Bowl is the busiest day of the year for Pizza Hut as well as other fast food chains. Pizza Hut expects to deliver over 2 million pizzas during the February 5 game. The company will hire for pizza makers, [...]

Wells Fargo Buys Mall For $100

SAN FRANCISCO (dpa-AFX) - Wells Fargo Bank has bought a 1.1 million-square foot mall in Pennsylvania for an unbelievable price of $100. The bank was the only bidder for the property at an auction. The Pittsburgh-area mall was foreclosed after its owners failed to repay $143 million to the bank. The transaction was a consensual foreclosure in a sense Wells [...]

Starbucks Expands Parental Leave Benefits

SEATTLE (dpa-AFX) - Starbucks Corp. (SBUX) has decided to expand its parental leave plan for U.S. employees, as the coffee retailing giant looks to lure its employees to stay put. In a note to employees, Starbucks said birth moms will be eligible for six weeks of paid leave at 100 percent of their average pay, effective October 1. Earlier, six weeks of [...]

HSBC Cutting 100 Senior Investment Bankers

LONDON (dpa-AFX) - HSBC is reportedly laying off about 100 of its senior investment bankers worldwide, as the banking giant strives to curb operating costs. According to reports, the London-headquartered bank will eliminate managing director and director level employees at the Global Banking and Markets division, as it continues to struggle mainly due [...]

Treasuries Close Roughly Flat After Recovering From Early Weakness

WASHINGTON (dpa-AFX) - After coming under pressure in morning trading on Friday, treasuries staged a recovery over the course of the afternoon. Bond prices climbed well off their worst levels to end the day roughly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 2.467 [...]

WSJ: Samsung Will Blame Battery Size For Galaxy Note 7 Fires

SEOUL (dpa-AFX) - Samsung Electronics Co., Ltd. (SMSN.L, SSNNF.OB, SSNLF.OB) will reportedly blame faulty batteries for last year's Galaxy Note 7 fiasco. According to a Wall Street Journal report, Samsung's investigation of Galaxy Note 7 smartphones found that some batteries were irregularly sized while others had manufacturing problems which led to overheating [...]

Crude Oil Rallies As U.S. Rig Count Soars

WASHINGTON (dpa-AFX) - Crude oil futures rallied Friday for a small weekly gain, despite further signs that U.S. production will skyrocket. U.S. energy companies this week added the most oil rigs since 2013, as big oil looks to take advantage of plus-$50 oil prices. Baker Hughes reported the number of active U.S. rigs drilling for oil jumped higher by [...]

Gold Stocks Moving Higher Along With Price Of Metal

WASHINGTON (dpa-AFX) - Gold stocks are seeing considerable strength in afternoon trading on Friday, resulting in a 2.3 percent advance by the NYSE Arca Gold Bugs Index. The gains by gold stocks come amid an increase by the price of the previous metal, with gold for February delivery climbing $3.40 to $1,204.90 a barrel. Copyright RTT News/dpa-AFX [...]

Bristol-Myers Squibb Remains Firmly Negative After Initial Decline

NEW YORK CITY (dpa-AFX) - Shares of Bristol-Myers Squibb (BMY) have climbed off their worst levels but continue to see significant weakness in afternoon trading on Friday. After hitting a nearly three-month intraday low, Bristol-Myers is currently down by 10.9 percent. The steep drop by Bristol-Myers comes after the drug giant announced it has decided [...]
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