The U.S Department for Agriculture has announced that a supplier for Kroger Co (NYSE:KR) has recalled over 35,000 pounds of ground beef as a results of plastic contamination. According to a statement issued by the Department, the problem was discovered after a consumed filed a complaint. The consumer found pieces...
At some point, McDermott International Inc (NYSE:MDR) based in Houston was at a turning point and its merger with Chicago Bridge & Iron Company N.V. (NYSE:CBI) at accost of $6 billion helped to even moved it forward. According to McDermott's president and CEO David Dickson, the company had become too...
The disastrous adventure into the subprime mortgage business is still plaguing the General Electric Company (NYSE:GE) even after a decade. The company has closed the subprime mortgage business WMC in the year 2007 after the lending to the risky investors. It is still facing the lawsuits filed by the...
Tesla Inc (NASDAQ:TSLA) has announced that it is moving to 24-hour operations at its assembly plant located in Fremont, California. The company has also indicated that in order to facilitate its operations and fast track quick production, it will be hiring 400 people weekly for the next few weeks....
Southwest Airlines Co (NYSE:LUV) and engine manufacturers are facing a lawsuit filed in the U.S. District Court for the Eastern District of Pennsylvania after a fatal engine explosion killed one person. The lawsuit has been filed by Lilia Chavez, a passenger onboard flight 1380. It claims that Chavez has...
Whole Foods is facing the backlash on social media after it recently opened a new restaurant “Yellow Fever” as a part of the recently launched 365 store in Long Beach, California. The announcement of the opening was made on Twitter last week. Incidentally, the social media users have slammed...
On Tuesday, Starbucks Corporation (NASDAQ:SBUX) announced that it’s more than 8,000 stores will be closed on May 29 to allow the company undertake racial bias training. The move comes in response to a video which was circulating last week and showed two black men being arrested in the company’s...
McDermott International Inc (NYSE:MDR) has announced that it will self-perform air and saturation diving major projects located in the Europe, Americas and Africa region. The process will build off the company’s vertically integrated model executing the project. The company won a “sizable” contract to remove a single 24 inch subsea...
Employees and shareholders of General Electric Company (NYSE:GE) have expressed their frustrations over the company’s poor financial performance. They staged protests during the company’s first annual general meeting to be presided over by Chief Executive Officer John Flannery, under whom the company has reported a 43% drop in stock...
Federal regulators have imposed a $1 billion fine on Wells Fargo & Co (NYSE:WFC) for several years of selling products that are unnecessary to customers. This is the largest and toughest action taken against a bank by the Trump administration. The fine will be a settlement between the bank and...