Economy news

Xiaomi Misses Sales Target for 2018 But Sells 70 Million Smartphones

Xiaomi Misses Sales Target for 2018 But Sells 70 Million Smartphones

On Friday, Xiaomi the China-based smartphone maker announced that it had shipped more than 70 million smartphones during 2018. Although a very high number, it was short of the company?s ambitious target of 80 million. Growing competition and a high dependence on the market in China were factors that might […]

Northrop Wins Deal for $93 Million to Manufacture Drone

Northrop Wins Deal for $93 Million to Manufacture Drone

Northrop Grumman Corp won a contract of just over $93 million to manufacture a full-scale demonstrator of an unmanned spy drone, a flying wing that has large counter rotating propellers, which could take off as well as land on frigates, and destroyers, said the Pentagon late this week. Northrop has […]

Merck Does Not Gain Backing from FDA Panel for Vytorin

Merck Does Not Gain Backing from FDA Panel for Vytorin

Merck & Co should not be given the ok to claim Vytorin, its drug for lowering cholesterol, reduces the risk of strokes or heart attack in patients that have coronary heart disease, said an advisory committee on Monday to the United States Food and Drug Administration. The advisory panel evaluated […]

Raw Cashew Pieces Recalled by Trader Joe?s for Risk of Salmonella

Raw Cashew Pieces Recalled by Trader Joe?s for Risk of Salmonella

Lovers of cashews might need to read this one. Trader Joe?s has issued a recall that went out on January 15 for the product known as Raw Cashew Pieces, due to a possibility of salmonella poisoning. The company sent an alert out to the supplier that one of its lots […]

Yum! Brands Sales in China Rose 1% During December

Yum! Brands Sales in China Rose 1% During December

Yum! Brands Inc, which operates KFC, Pizza Hut and Taco Bell, announced that December sales at same stores were up 1% across China, where a spinoff of operations will take place this year. Sales at comparable stores for KFC were up 5% in China, said the company based in Louisville, […]

JPMorgan Chase Agrees To London Whale Class Action Suit Settlement (NYSE:JPM)

JPMorgan Chase Agrees To London Whale Class Action Suit Settlement (NYSE:JPM)

JPMorgan Chase & Co has agreed to pay $150 million to resolve a class action lawsuit over its London Whale trading scandal that emerged in 2012. The trading scandal caused a $6.2 billion loss, dropped JPMorgan?s share price by roughly one-quarter, and wiped out more than $40 billion of market […]

Factory Activity in Euro Zone Ends with Growth in 2018

Factory Activity in Euro Zone Ends with Growth in 2018

The factory activity across the euro zone ended this past year with growth in each of the countries that were included in a survey that was made public on Monday, suggesting that growth in manufacturing over the past year in general averaged above the last three. However, despite companies cutting […]