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Profit at American Express Exceeds Estimates

American Express Co, the largest credit card issuer in the U.S. by purchases, posted a profit for the first quarter that beat estimates by analysts as customers started spending more. Net income was up 12% to end the quarter at $1.43 billion equal to $1.33 per share compared to $1.28 billion and $1.15 per share during the same period one year before. Analysts had estimated that profit would be $1.30 per share. Revenue was up by 4% to reach $8.2 billion, which missed the estimate of analysts of $8.7 billion. CEO Kenneth Chenault has cut expenses... 
 

Starbucks Moving Europe Headquarters to London

On Wednesday, Starbucks Corp announced it was moving its headquarters for Europe from the Netherlands to London and would pay more tax in the United Kingdom due to the move. The largest coffee chain in the world has endured much criticism in Britain over its low contribution to taxes, since it was reported back in 2012 by a worldwide news agency that Starbucks told the tax authority in the UK it was loss making, while at the same time telling its investors that the subsidiary in Britain was profitable. After that report was released, Starbucks was... 
 

Zebra to Acquire Motorola Solutions’ Enterprise Company

On Tuesday, Zebra Technologies Corp announced it would acquire Motorola Solutions’ enterprise business for just over $3.45 billion, in a cash deal. The deal is a huge expansion for Zebra as the asset tracking and barcode printing company looks to make a stronger presence in logistics, transportation, manufacturing and retail, while expanding its reach geographically. CEO of Zebra Anders Gustafsson, in a prepared statement, said the acquisition would help to transform Zebra into a solutions provider that delivers great insights and intelligence... 
 

Retail Sales Increase in U.S. During March

In March, retail sales in the United States increased by their most since September of 2012 as people bought more clothing, garden supplies and cars helping the U.S. economy recover from severe weather that slowed the economy earlier in the year. The 1.1% increase exceeded the average estimates of analysts and has followed a gain of 0.7% in February that was more than originally reported. Figures from the Commerce Department showed analysts were calling for an increase of 0.9%. Sales not including at the gas station were the highest in four years. The... 
 

Stocks Drop Due to Jitters on Earnings

Investors pushed the stock market down for a second consecutive session on Friday. Investors are beginning to become anxious that a growth in earnings is beginning to falter. Bank stocks were dragged lower by JPMorgan Chase’s weaker results. Big drops in tech stocks that were once soaring pushed the tech heavy Nasdaq down for a third consecutive week. Stocks dropped from the opening bell on the news that big bank JPMorgan missed earnings estimates of analysts. Investors have been worried that certain technology stocks had been overvalued, dumped... 
 

Eli Lilly and Takeda Pharmaceutical Ordered to Pay $9 Billion

A federal court jury has ordered Eli Lilly & Co and Takeda Pharmaceutical Co. to pay $9 billion. The punitive damage award came after the jury found the two companies hid the risks of cancer of their diabetes medication Actos. Takeda, which is Osaka, Japan-based, was ordered to make a payment of $6 billion in a Lafayette, Louisiana federal courtroom. Shares of the pharmaceutical company fell by over 5% in Tokyo, after the news was released. It was the biggest drop by the stock since December 27. Eli Lilly, based in Indianapolis, Takeda’s partner,... 
 

Pabst May Return to Milwaukee

One of the beers that helped make Milwaukee a famous brewery city, might be coming back. Pabst Blue Ribbon originated at Empire Brewery back in 1844 and is now owned by Pabst Brewing. Metropoulos, a private equity company whose head is Dean Metropoulos purchased Pabst Brewing in 2012 for more than $250 million. The company’s brewing facility was then moved to Los Angeles from Chicago in 2011. In 1996, Pabst brewery shuttered its doors, but a group of residents of the city wants to purchase the brewery and return it to Milwaukee. Metropoulos’... 
 

Prada Sees Sales Growth Slowing on Less Demand

Prada SpA, the Italian leather handbags maker has forecasted a slowing down in sales growth for 2014 amidst a market in China that is maturing and softer demand across Europe. The maker of leather handbags costing $2,950 said sales in same-stores would increase at a pace in the low single-digits for its fiscal year through the end of January 2015. Prada, based in Milan, said its sales growth would be less than that of 7% from last year. The company also said that for the financial year 2015 sales growth would be in the mid single digits. The company... 
 
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