Warren Buffett lets go of Exxon shares, and buys refiner Phillips stake because of the fluctuating oil prices. Bloomberg reports that the billionaire investor announced Wednesday that his Berkshire Hathaway Inc. sold some $4 billion Exxon Mobil Corp. shares due to the dreary outlook of crude oil prices, buying instead a $4.48 billion stake from refiner Phillips 66.
United States
Qualcomm aims to be the go-to chipmaker for drones with new Snapdragon Flight
Qualcomm has revolutionized the drones and now aims to be the go-to chipmaker for this technology with its latest Snapdragon Flight. Drones may have its legal issues, but it has come a long way as a consumer technology. Drones are now convenient, easy to use, and look slicker. Now, Qualcomm plans to take it up a notch with their new Snapdragon Flight, which runs with the processor that power most prominent smartphones in the world.
Polish mobile networks Plus and Play against government's plan to shorten high-speed internet bidding period
Polish mobile network operators Plus and Play are for the scraping of the government's plan to shorten the bid period for the high-speed Internet frequencies for fear that it would penalize some bidders.
Alpine Valley Bread will become a subsidiary of Flowers Foods Inc.
Flower Foods Inc. has made the decision to acquire Alpine Valley Bread Company which is a family-owned natural bread producer for $120 million in cash and stock as reported by Source Media.
Two Giant Debt Collectors Ordered to Refund a Collected $61million to Consumers
Encore Capital Group and Portfolio Recovery Associates are ordered to refund a collected $61 million to customers for allegedly using deceptive strategies to collect debt. CNN reported that the Consumer Financial Protection Bureau charged these two giant debt collectors for buying inaccurate debts, collecting unverified debts, and using illegal strategies to collect debts.
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The Tetraphase Pharmaceuticals Inc. shares had fallen in late trading Tuesday to 80%. This is after a study discovered that its manufactured experimental antibiotic was no better than a standard generic treatment.
Glencore's Chief Executive Officer, co-founder, and second largest shareholder Ivan Glasenberg is set to pay $210 million of the company's impending $2.5 billion sale of new shares to repair its balance sheet.
Starting last week, Kmart, the U.S. retail company under Sears Holding Corp. brings back its No Money Down Layaway Program and launches No Money Down Leasing for holiday shoppers.
Apple launched the new Apple TV during its big product even in San Francisco Wednesday, showing a lot of promise with the Siri remote; but critics believe it still hasn't "cracked the code" in ultimately changing the way people watch TV.
Gas becomes less expensive because the bottom has fallen out on oil prices. Crude is responsible for almost half the cost of a gallon of gas, as reported by CNN Money. Since June, prices have been plummeting and according to AAA, the regular gasoline's average price is now at $2.40 per gallon or more than a dollar less than it was a year ago. The plunge has been widespread and average prices are still above $3 in only four states namely: California, Nevada, Alaska, and Hawaii wherein the last two states have everything that is often more expensive.
Toyota announces that the company is venturing into creating more intelligent car industry. According to the announcement, the Japanese car manufacturer is investing $50 million for research purposes in collaboration with Stanford University and Massachusetts Institute of Technology (MIT).
YouTube, a Google-owned company, is preparing to provide more transparency to advertisers on their advertisement data. Based on this new plan, advertisers will be able to get data such as the amount of view they receive on the platform. YouTube is also allowing a third-party feature to be used for that purpose.
Allaying fears about China's economy slowing down, Goldman Sachs says it's overblown. However, the American investment bank agreed that recently the world witnessed some negative developments.
Amazon Twitch.tv should get ready to face its upcoming tough competitor - China's Panda TV. Panda TV is an e-sports streaming service that will go in a direct competition with Amazon Twitch.tv as revealed this week.
