Sears sues Craftsman manufacturer to uphold their contract
Hoffman Estates-based Sears Holdings Corp. filed a lawsuit Monday accusing the manufacturer of its Craftsmen tools of attempting to break their supply agreement. The suit, filed in Cook County circuit court, said its agreement was signed in 2013 and remains in effect through 2018. But China-based One World, which has operations in South Carolina, has been attempting to break the contract and reduce Sears' supply because it said it has "inadequate assurance" that Sears will continue to pay for t..>> view originalFord to Cut Global Workforce Roughly 10%
Ford Motor aims to cut about 10% of its global workforce amid Chief Executive Officer Mark Fields's drive to boost profits and the auto maker's sliding stock price, according to people briefed on the plan. The move comes as Ford targets $3 billion in cost reductions for 2017, a plan intended to improve profitability in 2018 even as U.S. auto sales plateau. Ford's share price has suffered during Mr. Fields's three-year tenure, and the company's market value has slipped far behind those of Tesl..>> view originalPhiladelphia sues Wells Fargo for allegedly discriminating against minority borrowers
A 2016 photo of a Wells Fargo Bank branch in Woodbridge, Va. (Saul Loeb/AFP/Getty Images) The city of Philadelphia sued Wells Fargo on Monday for allegedly discriminating against minority home buyers. The complaint filed in a federal court in Pennsylvania alleges that Wells Fargo violated the Fair Housing Act of 1968 by “steering” minority borrowers into mortgages that were more expensive and riskier than those offered to white borrowers, according to court documents. The lawsuit says that ..>> view originalCyberattack could cost billions, but so far US has been mostly spared
The online extortionists behind the global WannaCry Internet attack had raked in less than $100,000 by late Monday. But the massive digital assault they launched late last week could end up costing the global economy billions.So far, little of the damage has occurred in the United States, as cybersecurity experts said most computer networks in this country that run Windows operating systems were not vulnerable to the security flaw that made the ransomware demand so effective. Moreover, the disc..>> view originalBill Gates Advises College Graduates on Today's Most Promising Careers
Billionaire philanthropist Bill Gates has offered the many thousands of graduates currently streaming out of U.S. colleges some career and life advice.Over a series of 14 tweets posted Monday, the world's richest man used the words "impact," "happiness," and "progress." He did not mention money. Instead, he told the graduates what jobs he would be looking for if he started out today."AI, energy and biosciences are promising fields where you can make a huge impact," he wrote. Earlier this year, G..>> view originalKuwait Joins Saudis, Russia to Seek Oil-Cuts Extension Into 2018
Kuwait joined Saudi Arabia and Russia in supporting an extension of oil-output cuts by OPEC and other global producers through the first quarter of 2018 to help trim global stockpiles.Extending the cuts at already agreed-upon volumes is needed to reach the goal of trimming global stockpiles to the five-year average, Kuwait’s Oil Minister Issam Almarzooq said in an emailed statement on Tuesday.“There are positive signals that have started to show, as April and May monthly reports are showing tha..>> view originalBerkshire Cuts 21st Century Fox Stake, Adjusts Airline Bets
Warren Buffett’s Berkshire Hathaway Inc. spent the first quarter fine-tuning its investments in airlines and technology companies, and retreating from 21st Century Fox Inc.In a filing Monday detailing its stock portfolio at the end of the quarter, Berkshire no longer listed Fox. Holdings in American Airlines Group Inc. and Southwest Airlines Co. increased, while a stake in Delta Air Lines Inc. was reduced. Buffett previously disclosed that he boosted a bet on Apple Inc. in the first quarter as ..>> view originalFact-Checking a Mogul's Claims About Avocado Toast, Millennials and Home Buying
According to the Food Institute, which analyzed Bureau of Labor Statistics expenditure data from 2015, people from 25 to 34 spent, on average, $3,097 on eating out. Data for this age group through the decades was not readily available. But the bureau’s report indicated that this group spent $305 more than people from 55 to 64 — a group that encompasses some baby boomers — and $89 more than the overall average, including spending among people ages 35 to 54. The truth is, even if millennials assu..>> view originalMusk Cousin Lyndon Rive, Former SolarCity CEO, to Leave Tesla
Lyndon Rive, the former chief executive officer of SolarCity and first cousin of Tesla Inc. CEO Elon Musk, will leave the electric automaker next month, saying he plans to start another venture.Tesla acquired SolarCity in November for $2 billion, creating a company with more than 30,000 employees that focuses on sustainable energy and transportation. Rive’s departure comes as Tesla prepares to launch the Model 3, its more affordable electric sedan, in July. Palo Alto, California-based Tesla has..>> view originalIf You Invested in Amazon at Its IPO, You Would Be a Millionaire Today
Investment titan Warren Buffett has good reason to regret not buying Amazon when it first went public — as do most investors.Had the average Joe decided to save $5,000 and spend it on Amazon's stock when it first hit the public markets 20 years ago, they be worth at least $2.4 million today.While those returns would have made the average Joe quite happy, $2.4 million would've hardly been noticeable in Buffett's now $72 billion net worth. Moreover, the investor has typically made much larger inve..>> view original
Sunday, September 24, 2017
Sears sues Craftsman manufacturer to uphold their contract and other top stories.
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