A group of traders and web hackers accumulated over $100M by gaining access to corporate press releases on news websites Market Wired, PR Newswire and Business Wire before the news were published. The hackers have been trading the advance stolen news to Wall Street traders for five years, fed authorities caught on Tuesday.
United States
Continued oil price crash reached lowest level
The U.S. crude oil's price continued to crash allowing it to reach its lowest level in more than six years. Benchmark U.S. crude oil has fallen to $1.88 equivalent to 4% making it settle at $43.08 a barrel In New York City, which is at its lowest since March 2009. The front-month continuation contract for U.S. crude had previously struck a 2015 low of $42.03.
US banks lead the equity trading revenues in Q2
Morgan Stanley, JPMorgan Chase and Goldman Sachs were the top-three beneficiaries in equity trading revenues during the second quarter of 2015.
Kraft Heinz terminates 2,500 jobs in the U.S. and Canada to save costs
Kraft Heinz is cutting 2,500 jobs in the U.S. and Canada, including 700 of its workforce in Northfield, Illinois in order to cut expenses.
Analysts bet on Macy's, Alibaba, Cisco and News Corp; quarter earnings to be announced
Cisco Systems, Inc. (CSCO), Alibaba Group Holding Ltd (BABA), Macy's Inc. (M) and News Corporation (NWS) will announce the companies' quarterly financial results on Wednesday.
Latest News
Ford Motor Company will announce on Wednesday the shifting of its F-650 and F-750 truck production in Ohio from Mexico to cut costs.
The countdown begins for the 2016 Summer Olympics kicking off August 5, 2016. It may be too far off still for most of the 200 million Americans or more to watch this exciting event with different games. Not for marketers, technology firms, and media companies whose goal is to capitalize on the interest and attention that the 2016 Olympic Games will provide.
Cities such as Columbus (Ohio), San Francisco, Louisville (Ky), Virginia Beach (Va) are registering encouraging growth in wages of over five percent while other cities have only 2.1% growth.
Billionaire investor Warren Buffett makes his biggest acquisition ever just a few weeks before his 85th birthday. For $37.2 billion, including debt, Buffett's Berkshire Hathaway has bought Precision Castparts Corp., a global manufacturer of aircraft and engine components.
Adobe Systems Inc. announced on Monday that they are making changes with their parental leave policies similar to other tech companies that made a similar move earlier.
Former first lady Eleanor Roosevelt is the preferred by a majority of Americans to be featured in the $10 bill, expected to be circulating in the year 2020, according to a recent survey done by The Marist Poll.
Google is restructuring its organization with an announcement of a new corporate name- Alphabet Inc. Google founder and CEO Larry Page will lead as the Alphabet CEO while co-founder Sergey Brin will be its president.
Presidential candidate Hillary Clinton will unveil a college affordability plan which will make college education more accessible to students, and will reduce the interest rates on student's existing loans.
Based on the July jobs data, the United States may be headed for an interest rate hike, a sign the economy is in good health.
