Business

Electrolux surpasses Q4 profit expectations

Electrolux surpasses Q4 profit expectations

Home appliance maker Electrolux posted a slightly bigger than expected rise in fourth quarter core earnings on Wednesday.

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Wal-Mart’s Lowest Paid Part-Time Workers to get At Least $10 An Hour by 2016

Wal-Mart’s Lowest Paid Part-Time Workers to get At Least $10 An Hour by 2016

Wal-Mart has decided that it will soon be raising pay scale of its workers as the American retailer does not want to lose workers to competitors. The multinational retail cooperation made this announcement on Wednesday. As per a recently made announcement, Wal-Mart's lowest paid part-time employees will receive at least $10 an hour by 2016. The average full-time worker with Wal-Mart will earn $13 an hour.

Market experts said the modest raises that Wal-Mart will give to its lowest-paid workers have shown some sign of hope for lower-wage workers in other companies and industries.

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Duke Energy to pay $102.2 million to resolve litigation charges by federal prosecutors

Duke Energy to pay $102.2 million to resolve litigation charges by federal prose

A lawsuit has been filed by federal prosecutors against Duke Energy for violating the federal Clean Water Act. The company was charged for spilling coal ash into the Dan River in North Carolina region.

However, the company said that it has agreed to settle a federal grand jury investigation, which found that the company made nine violations of the Clean Water Act.

Duke Energy will pay more than $102 .2 million in penalties out of which $68.2 million will be paid in fines and restitution and $34 million for community service and mitigation.

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Coca-Cola and Pepsi Face obstacle as US dollar Surges

Coca-Cola and Pepsi Face obstacle as US dollar Surges

The biggest problem that Coca-Cola and Pepsi face these days is the increasing US dollar as both the companies have significant percentage of their revenue from overseas markets. According to experts, the two giants depend on overseas customers for nearly half of their revenue.

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Gemalto investigates report of hacking by US, UK spies

Gemalto investigates report of hacking by US, UK spies

According to chipmaker Gemalto, the company experts have examined a report, which suggests that the US and British spies hacked with the intention of stealing the privacy-protecting encryption keys in the chips, the company manufactures for mobile phones.

According to the report, agencies were able to check a large portion of voice and data mobile communications due to the hacking attempt, without permission of telecom companies and governments. The report referred to documents provided by whistleblower Edward Snowden.

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Sysco to Challenge the FTC’s Attempt to Prevent Proposed Merger with US Foods

Sysco to Challenge the FTC’s Attempt to Prevent Proposed Merger with US Foods

Tennessee Attorney General Herbert Slatery is the new addition in the list currently having 10 other attorney generals who have joined the Federal Trade Commission. They want a temporary restraining order and preliminary injunction to stop the merger of Sysco and US Foods.

It is considered the merger will violate antitrust laws by eliminate the needed competition in the sector. The deal can make food service customers, including restaurants, hospitals, hotels and schools to face higher prices and reduced services.

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Environmental Groups to Gather in Annapolis to Support New Legislation

Environmental Groups to Gather in Annapolis to Support New Legislation

Environmental groups are all set to gather next week in Annapolis to stand in support of law that would double the amount of energy state utilities must provide from renewable sources.

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Ball looking forward to buy Rexam

Ball looking forward to buy Rexam

US packaging company Ball is approaching a deal to buy British drinks can maker Rexam. The companies are at an advanced stage of negotiating a cash-and-share offer that would value Rexam at around £4 billion ($6.2 billion). According to Rexam, its shareholders will get 407 pence in cash and 0.04568 new Ball share for each Rexam share held, amounting to 628 pence per share.

Rexam directors are recommending an improved 628p a share from Ball. The recommended offer for Rexam comes at a 4% premium to the share price of 448p before the approach from Ball was made public.

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Tesla and SolarCity face selloff after lower than expected quarterly numbers

Elon Musk

Tesla, the electric car maker, and solar panel installer SolarCity have put up a bad performance in the stock market during the past six months. During the recent earnings call of Tesla Motors, Elon Musk announced that the company is aiming to increase its capacity over the next five years to meet the higher consumer demand for its electric vehicles.

Both the companies to which Elon Musk is connected to, are lagging in the recent financials. These companies for years were very popular among investors, but now are raising several questions in their minds.

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Nestle forecasts 2015 Sales growth Near Low End of its Long Term Target

Nestle forecasts 2015 Sales growth Near Low End of its Long Term Target

Due to stagnant revenue in China, Nestle SA has witnessed the slowest annual sales growth in five years. Due to lower sales and pressure on margins, the world's biggest food products company has predicted 2015 sales growth near the low end of its long-term target.

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