Business
General Electric Makes Progress on Cost-Cutting
GE has been under pressure to cut expenses after missing profit goals but Friday's results are a sign that the company is headed toward a successful turnaround. Of that total $242.6 billion is services backlog and $84.2 billion is equipment. Share prices were down as much as 5 percent after GE's earnings statement.
Business
Kenmore Smart appliances add Alexa support in Sears Amazon deal
Anyone in the house can download the Kenmore Smart AC app on their smartphone, follow the easy instructions and connect their smartphone or tablet to the AC unit. Park declined to disclose the financial terms of the deal, but Petriello said third-parties that sell on Amazon typically pay a commission of about 15 percent.
Business
United Kingdom retail sales rise in June
However, the good news for the sector as a whole is that the official Office for National Statistics (ONS) data shows that prices are still growing on an annual basis, suggesting that overall, the market remains strong. Chris Williamson, chief business economist at IHS Markit sounded a note of caution however. The jump in sales between April and June was driven by a 0.6% increase in the quantity of products bought in June.
Business
IBM's 4% Stock Tumble Slashes 45 Points From The Dow
The Atlanta Federal Reserve raised its second-quarter GDP estimate by one-tenth of a percentage point to a 2.5 percent annualized rate after data showed USA homebuilding surged to a four-month high in June. Seven of the 11 major S&P sectors were higher, with the telecommunications index's 1.44 percent rise leading the advancers. Both the S&P and Nasdaq hit record highs earlier in the session.
Business
Riot rocks Apapa as policeman shoots tanker driver dead
It was gathered that the firemen had to leave the area for fear of being brutalised by the tanker drivers and their fire trucks vandalised. The caller said hoodlums were trying to take laws into their hands by setting the bank ablaze following the shooting of a tank driver by a policeman attached to the bank during an altercation .
Business
Cops harpoon two dark net whales in megabust: AlphaBay and Hansa
According to investigators, an AlphaBay staffer once claimed the site hosted more than 40,000 vendors, selling to more than 200,000 customers. Attorney General Jeff Sessions announced this morning that the Justice Department, in coordination with law enforcement agencies around the globe, was responsible for shutting down the cryptomarket AlphaBay on July 4 as part of Operation Bayonet.