Business news

• Dow transports set closing record high after 2-year wait

  07-12-2016 23:24 via news.yahoo.com
  
  The Dow Jones transportation average hit a record high close, led by increases in shares of Norfolk Southern , Union Pacific and FedEx Corp , giving some investors hope the stock market is poised for further gains. The Dow Jones industrial average , which has been setting record highs recently, closed at a fresh high on Wednesday as stocks continued a rally that began with Donald Trump's win in the Nov. 8 U.S. presidential election. Market watchers who look for parallels in the performance of bo
  
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• Lululemon quarterly sales rise, shares jump

  07-12-2016 23:09 via news.yahoo.com
  
  TORONTO (Reuters) - Canadian yoga and leisure apparel retailer Lululemon Athletica Inc reported quarterly profit that beat analysts' forecasts on Wednesday, helped by higher-than-expected gross margins and sales, sending shares up 10 percent in extended trade.
  
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• EU takes action against UK, Germany over VW emissions scandal - sources

  07-12-2016 22:56 via news.yahoo.com
  
  The European Union will take action on Thursday against seven nations including Germany and Britain for failing to police car emissions rules, EU sources said, after the Volkswagen cheating scandal showed suspicious behavior in the industry. Amid frustration in Brussels over nations' responses to diesel vehicles flouting pollution limits, the European Commission is resorting to the strongest legal action it can take against members of the 28-nation bloc - potentially ending in court. Nitrogen Ox
  
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• Trump chooses pro wrestling magnate Linda McMahon to head SBA

  07-12-2016 22:49 via news.yahoo.com
  
  U.S. President-elect Donald Trump said on Wednesday he will nominate professional wrestling magnate and former Senate candidate Linda McMahon as his choice to head the Small Business Administration. Trump's announcement said McMahon would be a key player in his effort to generate stronger job growth and roll back federal regulations. McMahon, 68, is a co-founder and former CEO of the professional wrestling franchise WWE, which is based in Stamford, Connecticut.
  
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• Wall St. run continues; Dow transports hit record

  07-12-2016 22:05 via news.yahoo.com
  
  NEW YORK (Reuters) - Wall Street surged on Wednesday, with the Dow industrials and S&P 500 hitting fresh records, as equities continued their march upward after the presidential election of Donald Trump and a new high for transportation stocks added to the bullish tone.
  
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• Exclusive: U.S. regulator set to fail Wells Fargo on community lending test - sources

  07-12-2016 21:53 via news.yahoo.com
  
  A U.S. bank regulator is ready to fail Wells Fargo on a national scorecard for community lending, sources familiar with the decision said on Wednesday, in a move that could limit near-term expansion for the bank. The ruling from the Office of the Comptroller of the Currency, the main regulator for national banks, is due by early January, said the sources with knowledge of the plans. A Wells Fargo spokesperson was not immediately available for comment.
  
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• How to connect multiple Google cloud accounts to Grive2

  07-12-2016 21:25 via techrepublic.com
  
  If you use Grive2 to sync your Google account to a Linux desktop or server and want to connect multiple accounts, here's how to do it.
  
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• Dow, S&P 500 surge to highs; transports set record

  07-12-2016 21:14 via news.yahoo.com
  
  (Reuters) - Wall Street surged on Wednesday, with the S&P 500 and Dow hitting fresh record intraday highs, as equities continued their march upward after the presidential election of Donald Trump, even as his comments on prescription drug pricing wounded the healthcare sector.
  
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• AT&T touts Time Warner merger at U.S. Senate hearing

  07-12-2016 21:13 via news.yahoo.com
  
  AT&T Inc's planned $85.4 billion acquisition of Time Warner Inc will increase innovation and bring "better-priced options" to consumers upset by high cable bills, AT&T Chief Executive Randall Stephenson told lawmakers on Wednesday. "We want consumers to pay for their content once and watch it any where any time," he said at a hearing of the Judiciary Committee's antitrust panel. Senator Amy Klobuchar, the ranking Democrat on the panel, expressed concern that the deal would create incenti
  
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• Trump vows to bring down drug prices, doesn't say how

  07-12-2016 21:10 via news.yahoo.com
  
  President-elect Donald Trump took aim at drugmakers on Wednesday by promising in a magazine interview that "I'm going to bring down drug prices," sending shares of pharmaceutical and biotechnology companies lower. The Republican U.S. president-elect, a wealthy real estate developer who ran a campaign with a populist appeal, did not state in the interview how he would reduce the cost of prescription drugs. Trump previously has suggested he was open to allowing importation of cheaper medicines fro
  
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• Oil slips on bearish U.S. inventory report, doubts over OPEC cut

  07-12-2016 21:08 via news.yahoo.com
  
  By Scott DiSavino NEW YORK (Reuters) - Oil prices slid on Wednesday on bearish U.S. petroleum inventory data and doubts that production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. Brent futures fell 93 cents, or 1.7 percent, to settle at $53.00 a barrel, while U.S. crude lost $1.16, or 2.3 percent, to settle at $49.77. The U.S. Energy Information Administration EIA said crude inventories fell 2.4 million barr
  
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• Worried about identity theft? Then you should avoid these password pitfalls

  07-12-2016 20:47 via techrepublic.com
  
  We're constantly reminded of the risks that come with bad passwords, yet many people persist in using obvious and easy-to-crack names, words, and patterns. Want to know if you're at risk?
  
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• Ford releases for sale half of 10-speed F-150 stockpiled trucks

  07-12-2016 20:21 via news.yahoo.com
  
  Ford Motor Co by Wednesday had released for sale more than half of the 15,000 F-150 pickup trucks with 10-speed transmissions that were held to ensure quality, a company spokeswoman said. Reuters reported on Tuesday that shipment of some of the 2017 models of the F-150 were being delayed to keep from having quality issues during the first application of a 10-speed transmission. In an interview with Reuters earlier this week, Joe Hinrichs, head of Ford in the Americas, said holding the trucks was
  
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• Slack teams with Google Cloud, adds Docs preview, Drive Bot, and more

  07-12-2016 20:18 via techrepublic.com
  
  Enterprise messaging platform Slack recently announced it will be partnering with Google on new features and deeper integrations between the brands.
  
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• Learn cybersecurity basics with these essential YouTube videos

  07-12-2016 19:57 via techrepublic.com
  
  A hand-picked list of must-watch cybersecurity videos to help you learn the fundamentals of encryption, how hackers penetrate systems, and strong cyber-defense tactics for business.
  
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• Exclusive: U.S. regulator set to fail Wells Fargo on fair lending test - sources

  07-12-2016 19:29 via news.yahoo.com
  
  Wells Fargo is due to be deemed a bank that "needs to improve" under the Community Reinvestment Act (CRA), a law meant promote fair lending. The ruling from the Office of the Comptroller of the Currency, the main regulator for national banks, is due by early January, said the sources with knowledge of the plans. A Wells Fargo spokesperson was not immediately available for comment.
  
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• Dow, S&P hit highs; Trump comment hammers drug stocks

  07-12-2016 19:09 via news.yahoo.com
  
  The S&P 500 healthcare index swiftly lost 1.56 percent, while the Nasdaq Biotechnology index dropped 3.8 percent - set for its worst day in nearly two months. Trump's effect was seen on Tuesday as well, with Boeing's stock falling after his tweet that an order for a revamped Air Force One plane should be canceled as it was too expensive. Pfizer's shares fell 2.5 percent to $30.78 after Britain's competition watchdog fined the drugmaker $107 million for its role in ramping up the cost of an e
  
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• Linde resumes merger talks with Praxair, CEO resigns

  07-12-2016 19:08 via news.yahoo.com
  
  By Ludwig Burger and Jens Hack FRANKFURT (Reuters) - German industrial gases group Linde has invited U.S. rival Praxair to resume merger negotiations after Praxair offered concessions on the division of power in the combined entity, defusing a dispute which led to the collapse of talks two months ago. At the same time Linde's chief executive Wolfgang Buechele has stepped down with immediate effect, Linde said after a meeting of its supervisory board on Wednesday. Buechele has been replaced by Al
  
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• Airbus set to win Canadian deal for search-and-rescue aircraft: source

  07-12-2016 19:04 via news.yahoo.com
  
  PARIS (Reuters) - Canada is set to select Airbus Group to provide search-and-rescue (SAR) aircraft, a source familiar with the matter said on Wednesday, with Airbus beating Italy's Leonardo in winning the deal.
  
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• Trump takes aim at drugmakers and pharma, biotech stocks fall

  07-12-2016 18:33 via news.yahoo.com
  
  President-elect Donald Trump on Wednesday took aim at drugmakers, promising in a magazine interview that "I'm going to bring down drug prices," and shares of U.S. pharmaceutical and biotechnology companies fell. The Republican president-elect, a wealthy real estate developer, did not state in the interview how he would reduce drug prices. Trump previously has suggested he was open to allowing importation of cheaper medicines from overseas, a move that has been consistently opposed by the pharmac
  
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• NIST's Cybersecurity Framework offers small businesses a vital information security toolset

  07-12-2016 17:58 via techrepublic.com
  
  Small businesses run lean, and bad guys know that means security may be less than adequate. NIST researchers share ways that small businesses can protect their information.
  
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• Starbucks planning to add 12,000 new outlets around the world

  07-12-2016 17:50 via cbc.ca
  
  Starbucks plans to open 12,000 new locations within five years, boosting the total number of its coffee shops worldwide by almost 50 per cent.
  
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• Top 10 innovation trends to watch, according to Ford

  07-12-2016 17:44 via techrepublic.com
  
  On Wednesday, the American auto giant released its annual trend report, highlighting three past trends and seven to look for in 2017. Here's what you should know.
  
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• AT&T touts Time Warner merger at Senate hearing

  07-12-2016 17:40 via news.yahoo.com
  
  "By owning Time Warner content, we will be able to innovate more quickly, experiment more readily, tweak our offerings as we gauge customer response and bring consumers the options they seek," Stephenson said at a Senate hearing. The Justice Department will determine whether the deal is legal under antitrust law. Senator Amy Klobuchar, the ranking Democrat on the Judiciary Committee's antitrust panel, expressed concern that the deal would create incentives for AT&T to refuse to license Time
  
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• How Amazon is moving closer to on-premises compute with Snowball Edge

  07-12-2016 17:34 via techrepublic.com
  
  At first glance, Snowball Edge looks very similar to a hyperconverged infrastructure solution. AWS is using the device to lower barriers to the public cloud for potential customers.
  
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• WestJet pilots union drive takes flight again

  07-12-2016 17:13 via cbc.ca
  
  After laying the groundwork for a year, the Air Line Pilots Association has officially launched its drive to unionize WestJet's pilots, following a failed attempt by another association in 2015.
  
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• Coat maker Moose Knuckles resolves made-in-Canada concerns with Competition Bureau

  07-12-2016 16:58 via cbc.ca
  
  High-end winter jacket maker Moose Knuckles and the Competition Bureau have reached a deal over concerns about made-in-Canada claims in the company's advertising and labelling of some of its parkas.
  
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• Why geocoding is better than street addresses, and will power future tech and services

  07-12-2016 16:46 via techrepublic.com
  
  Both What3Words and Google's open location codes identify locations more precisely and concisely than conventional addresses. Here's how.
  
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• Fedora 25: Bleeding edge and bloody brilliant

  07-12-2016 16:45 via techrepublic.com
  
  If you've been waiting for a reason to come back to Fedora, here's why the 25th iteration might be the perfect time.
  
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• EpiPen maker Mylan to restructure and cut its workforce

  07-12-2016 16:32 via news.yahoo.com
  
  (Reuters) - Generic drugmaker Mylan NV , which has been under fire for its price hikes on the life-saving EpiPen allergy treatment, said on Wednesday that it would restructure and expected to cut less than 10 percent of its global workforce.
  
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• Alibaba's YunOS overtakes iOS in China, but what is it?

  07-12-2016 16:28 via techrepublic.com
  
  YunOS now has the second largest Chinese market share, right between Android and iOS, but despite its prominence many people don't know what it is.
  
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• BlackRock sees opportunity to grow as rates rise

  07-12-2016 16:19 via news.yahoo.com
  
  NEW YORK (Reuters) - A top BlackRock Inc executive said the company could benefit from rising rates as its institutional clients keep their stakes in fixed income and as revenues from other businesses grow.
  
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• Bank of Canada stands pat again, keeps key interest rate at 0.5%

  07-12-2016 16:07 via cbc.ca
  
  The Bank of Canada says that while the economy gained steam through the last half of 2016, it foresees a slowdown, which is why it has decided to keep its benchmark interest rate where it is for now.
  
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• Microsoft partners with Cray to run deep learning algorithms on supercomputers

  07-12-2016 16:05 via techrepublic.com
  
  Microsoft and Cray recently unveiled a collaborative work scaling the Microsoft Cognitive Toolkit to run on a Cray XC50 supercomputer, getting results faster then before.
  
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• GE's lamp of the future is the first embedded with Amazon's Alexa Voice Service

  07-12-2016 15:59 via techrepublic.com
  
  The cool factor of smart home technology goes up a notch with the debut of a new voice-controlled table lamp from GE.
  
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• Trump defends Boeing tweet, says companies shouldn't worry

  07-12-2016 15:43 via news.yahoo.com
  
  U.S. President-elect Donald Trump on Wednesday defended his direct interventions with companies, including making statements on Twitter, saying businesses will benefit from his actions and his upcoming term in office. One day after criticizing one of Boeing Co's high-profile projects in a tweet, Trump told NBC that he anticipated "tremendous" economic growth under his administration but reiterated his warning that companies shifting U.S. jobs overseas would have to pay. "I don't know ... how peo
  
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• Oil falls on doubts output cut will end global glut

  07-12-2016 15:40 via news.yahoo.com
  
  Oil prices slipped on Wednesday on doubts production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. North Sea Brent crude was down 65 cents a barrel at $53.28 by 1430 GMT. Oil prices surged almost 20 percent after the Organization of the Petroleum Exporting Countries and Russia announced last week that they would cut production next year in an effort to prop up markets.
  
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• Poll: U.S. bull market seen extending into 2017 but Trump a wild card

  07-12-2016 15:28 via news.yahoo.com
  
  NEW YORK (Reuters) - The U.S. stock market's bull run since 2009 will extend into 2017 if President-elect Donald Trump's plans to stimulate the economy with infrastructure spending and financial deregulation come to pass, according to strategists in a Reuters poll.
  
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• U.S. mortgage rates rise to highest levels in over two years: MBA

  07-12-2016 15:24 via news.yahoo.com
  
  NEW YORK (Reuters) - Interest rates on U.S. fixed-rate mortgages rose to their highest levels in more than two years, sending weekly home loan application activity to its weakest since early January, Mortgage Bankers Association data released on Wednesday showed.
  
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• Average Canadian now owes $22,081, but we're managing to pay it off

  07-12-2016 15:11 via cbc.ca
  
  The average Canadian now owes $22,081 in consumer debt, a figure that doesn't include any mortgages, debt monitoring firm Equifax says.
  
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• Average Canadian now owes $22,081, but most owe nothing at all

  07-12-2016 15:11 via cbc.ca
  
  The average Canadian now owes $22,081 in consumer debt, a figure that doesn't include any mortgages, debt monitoring firm Equifax says.
  
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• Average Canadian now owes $22,081, but many owe nothing at all

  07-12-2016 15:11 via cbc.ca
  
  The average Canadian now owes $22,081 in consumer debt, a figure that doesn't include any mortgages, debt monitoring firm Equifax says.
  
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• EpiPen maker Mylan says may cut jobs

  07-12-2016 15:03 via news.yahoo.com
  
  Mylan has been under investigation and faced harsh criticism over steep price increases for its life-saving EpiPen auto-injector, which is used for severe allergic reactions. Mylan has about 35,000 employees, the company's spokeswoman Nina Devlin said. The U.S. Senate Judiciary Committee in late November postponed a hearing planned on Mylan's $465 million settlement to resolve charges that it underpaid government healthcare programs by misclassifying its EpiPen treatment.
  
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• OPEC, U.S. begin 'cat and mouse' oil game as producers pounce on hedges

  07-12-2016 15:02 via news.yahoo.com
  
  LONDON/NEW YORK (Reuters) - As far as one of the world’s biggest commodities traders, Glencore’s chief Ivan Glasenberg, is concerned, the oil market will be at the mercy of "a cat and mouse game" between OPEC and its U.S. shale rivals in the coming year. A 16 percent price rally over the past week has delivered U.S. frackers a golden opportunity to hedge - or sell forward - their production for 2017 and beyond, to shore up their coffers against possible future price falls. Prices for
  
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• The smart city security nightmare: How cities can stay awake

  07-12-2016 14:44 via techrepublic.com
  
  One of the elephants in the room at the 2016 Smart Cities Summit in Boston was cybersecurity. It threatens to derail the most optimistic plans for making cities more efficient and more responsive.
  
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• Starbucks sets five-year growth targets, to open 12,000 more stores

  07-12-2016 14:43 via news.yahoo.com
  
  Starbucks said last week that Chief Executive Howard Schultz would step down to focus on the company's high-end coffee shops. The company also said it would have Reserve coffee "bars" selling premium coffee in up to 20 percent of its 37,000 stores by 2021, more than it had previously targeted.
  
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• Trump defends his comments on Boeing, sees markets going up: NBC interview

  07-12-2016 14:17 via news.yahoo.com
  
  Donald Trump said companies should welcome his actions because they will prosper under his administration, the U.S. President-elect told NBC on Wednesday, one day after Boeing Co's shares took a hit when he used Twitter to criticize one of its high-profile projects. Trump said he spoke with the head of Boeing on Tuesday about the cost of its work regarding new presidential planes, and "we're going to work it out." He added: "That's what I'm here for.
  
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• Should your business adopt mobile payments?

  07-12-2016 13:00 via techrepublic.com
  
  One-third of consumers expect mobile money will dominate payments within a decade, yet merchants have been slow to catch up. Here's why you should consider mobile payments, and how to get started.
  
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• Britain's spending watchdog may review RBS privatization process

  07-12-2016 12:59 via news.yahoo.com
  
  Britain's spending watchdog may open an investigation into the government's decision to start selling shares in Royal Bank of Scotland last year causing a 1.1 billion pound ($1.39 billion) loss for taxpayers, sparking accusations of poor timing from opposition politicians. The head of the National Audit Office, said in a letter to the Treasury Select Committee, he is considering a review of the government's handling of the taxpayer's investment in the nationalized banks, including the advice giv
  
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• Sony to release six smartphone games to accelerate mobile drive

  07-12-2016 12:57 via news.yahoo.com
  
  By Makiko Yamazaki TOKYO (Reuters) - Japan's Sony Corp will release as many as six smartphone games in the next financial year, hoping that its own gaming franchises can replicate the success of console rival Nintendo Co's Pokemon GO. The upcoming titles will free up some of Sony's popular gaming franchises, such as Everybody's Golf, from PlayStation consoles to make them available on Apple Inc's iOS and Google's Android mobile platforms. An aggressive push into the rapidly growing segment is se
  
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