Finance

This video includes images from Getty Images . The deal, which is expected to close in mid-2016, values GE Appliances at 10 times the last 12 months of earnings before interest, taxes, depreciation and amortization. The deal, Haier's biggest ever, will give a big boost to its US business, which held less than 5 percent of the market a year ago. "These are incredibly complimentary leading white goods producers in China and the USA", an executive familiar with the transaction, said.
  • Israel won't allow Iran to obtain nuclear weapons

    Finance

    He revealed that personally lobbied for the Americans release in conversations with Iranian President Rouhani - pointing out that "discussions between our governments accelerated" after the nuclear deal was complete. "A lot of work has gone into getting us here, and implementation of this agreement will require a similar effort", said IAEA Director General Yukiya Amano in the statement.
  • Celine Dion's bro Daniel no more

    Celine Dion's bro Daniel no more

    Finance

    According to Page Six , Daniel was battling cancer of the throat, tongue and brain. The brother of Celine Dion has passed away, just two days after the death of the singer's husband. Meanwhile, Dion's representative said Friday that Dion's brother has cancer and doesn't have long to live, even as funeral arrangements were announced for Angelil.
  • Company restructuring: Walmart closing 269 stores, of which 115 in Latin America

    Company restructuring: Walmart closing 269 stores, of which 115 in Latin America

    Finance

    The store closures will start at the end of the month. Wal-Mart Stores, Inc. will shutter 2 stores in MI as part of 154 planned closures in the US and 269 around the globe. Cesar E Chavez Ave., in Chinatown, were among dozens of locations closing Sunday, according to the company's website . Wal-Mart will continue its larger-size Neighborhood Markets effort, though 23 poor-performing stores in that chain also will be closed.
  • Celine Dion Loses Brother to Cancer Days After Husband's Death

    Finance

    Their sister Claudette told Le Journal de Montréal that Daniel was surrounded by loved ones as he approached the end, with their mother and many other family members by his bedside. When Dion was 18, Angelil remade her image by changing her hair and capping her teeth, and enroll in English school so she could record songs for the U.S.
  • Oil prices rebound after sell off

    Finance

    Brent oil stayed below $30 a barrel as prices remained weak in Asia Thursday after U.S. crude and fuel inventories rose, adding further anxiety over a global supply glut. "It's all about the Iran situation", said Bob Yawger, director of the futures division at Mizuho Securities USA in NY. While crude inventories only jumped by 234,000 barrels last week an 8.4 million barrel gasoline inventory build and a 6 million barrel jump in distillates inventories weighed on crude prices, Retuers said .
  • Woman starts GoFundMe campaign for lost money on Powerball

    Woman starts GoFundMe campaign for lost money on Powerball

    Finance

    According to what she wrote on her GoFundMe page , she didn't want the money to get back on her feet but instead wants to use the money to "spend another fortune trying to hit it big" again. The company added that all of the funds raised have been returned to the donors. It is not clear who set up the GoFundMe account. While some people have donated to her cause, others left comments questioning her for even asking.
  • Volkswagen's attempts to fix its diesel troubles are going terribly

    Finance

    Volkswagen said it was in talks to find a solution and that the rejection related to initial recall plans submitted to California in December. The rejection by CARB and the EPA also comes two days after Volkswagen CEO Matthias Mueller said of his company's reaction to the EPA's findings, "We didn't lie".
  • What time is Democratic presidential debate tonight

    What time is Democratic presidential debate tonight

    Finance

    Adam Schiff and Sen. McLean said if Sanders pulls off a win in either Iowa or New Hampshire next month, the race could go all the way to the Democratic National Convention in July. In an interview on CNN , Biden said "no one questions Bernie's authenticity" on his concern for economic justice, defended Sanders' record on gun control, and said he never saw Clinton as a "prohibitive favorite".
  • Walmart to Close 269 Stores, Affecting 16000 Workers

    Finance

    The store announced on Facebook that its last day of business will be January 28. Wal-Mart operates 4,500 stores in the U.S. Its global workforce is 2.2 million, 1.4 million in the U.S. The company will opt instead to improve Supercenter and Neighborhood Market locations while strengthening their online business and offering greater pickup services for customers.
  • US EPA files lawsuit against VW over emissions scandal

    Finance

    Attorney Barbara McQuade. The scandal hit Volkswagen's sales worldwide, according to BBC News . The California Air Resources Board (CARB) is extending a deadline to approve or reject Volkswagen's proposed fix for the EA 189 diesel-engined cars, Reuters reports.
  • Walmart Closing Its Store in South Baltimore City

    Finance

    WalMart Stores Inc said on Friday that it was pulling the plug on its smallest store format, Walmart Express, and closing 269 locations globally, including 154 in the United States, in a restructuring that will affect 16,000 workers. Where that isn't possible, the company will provide 60 days of pay and, if eligible, severance, as well as resume and interview skills training. "You wonder is there a need for as many locations as they have, even after the closures".
  • GE to move headquarters to Boston from Conn.

    Finance

    I saw at least one headline that declared, "NY beaten by Beantown", as if this was just the latest chapter in the ongoing rivalry between the two cities. The full move is expected to be completed in several steps by 2018. That didn't deter General Electric , the industrial behemoth adept at minimizing its tax liabilities, from moving there.
  • VW says diesel fix on way

    VW says diesel fix on way

    Finance

    Beginning his presentation six minutes late, Volkswagen chairman Herbert Diess dispensed with the elephant in the room on Tuesday night before introducing an all-electric Golf and a futuristic version of the once-beloved VW van. The agency's Monday filing said: "Nearly 600,000 diesel engine vehicles had illegal defeat devices installed that impair their emission control systems and cause emissions to exceed EPA's standards, resulting in harmful air pollution".
  • Walmart To Close 269 Stores, Including 154 In U.S.

    Finance

    Wal-Mart operates about 11,600 stores globally. Walmart instead will focus on strengthening Supercenters, optimizing Neighborhood Markets, growing the e-commerce business and expanding pickup services for customers. The closures will affect 154 domestic stores - Wal-Mart's largest single amount ever closed in the United States. There are no Walmart Express locations in central in, according to Walmart's website.
  • Volkswagen plan to fix diesel emission issue rejected

    Finance

    And, finally, VW's proposal doesn't address the "overall impacts on vehicles performance, emissions and safety" adequately enough. Separately, VW is working on a plan to fix larger 3.0-liter diesel engines used in some VW, Audi, and Porsche vehicles.
  • Valeant (VRX) Stock Drops in Pre-Market Trading, Interim CEO, Chairman Named

    Valeant (VRX) Stock Drops in Pre-Market Trading, Interim CEO, Chairman Named

    Finance

    That review is headed by lead independent director Robert Ingram , who will become the interim chairman of Valeant's board of directors following Wednesday's shuffle in the company's top ranks. He's now on the Canadian company's board. (NYSE/TSX:VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, gastrointestinal disorder, eye health, neurology and branded generics.
  • GE to Move Headquarters From Connecticut to Boston

    Finance

    GE said the move would have no material financial impact, with costs offset by state and city incentives and the sale of its current headquarters offices in Fairfield, Connecticut, and its offices at 30 Rockefeller Plaza in New York City.
  • 8 key quotes from Obama's final State of the Union address

    8 key quotes from Obama's final State of the Union address

    Finance

    Bush and Clinton. President Barack Obama delivers his State of the Union address before a joint session of Congress on Capitol Hill in Washington, Jan. "I echo President Obama's calls to tackle gun violence, climate change, and college affordability, and share his belief that in order to do so we must fix a broken Congress and a political system that is overly influenced by money", he added .
  • Walmart to close 269 sites, end convenience store test

    Finance

    The domestic store closures will mostly impact the company's Wal-Mart Express stores, which account for 102 of the closings. "In total, the impacted stores represent less than 1 percent of both global square footage and revenue", McMillon said.
  • Idaho Lottery Saw 1490 Percent Increase in Ticket Sales Last Week

    Finance

    Looked again and the third time I went running down the hallway and went 'John , John you gotta check these numbers!'" Walker's winning ticket matched all five of the white ball numbers, but did not match the Powerball . The couple also had the ticket with them. Two other winning tickets were sold in Chino Hills, California, and Melbourne Beach, Florida. The Robinsons' daughter, Tiffany, who lives nearby, is a recent college graduate in her 20s.
  • Third Destrehan teacher accused of having sex with student

    Third Destrehan teacher accused of having sex with student

    Finance

    Charles Parish Sheriff's Office. A family member of the teen  told  cops after learning about the sexual relationship. Kenner police  Shelley Dufresne, now 33, faces charges for a threesome with a student and another teacher. "This is a personnel issue; therefore, no other information will be released at this time". Dufresne then pleaded not guilty to a separate charge of having sex with the student.
  • Pacolet Walmart Express closing

    Pacolet Walmart Express closing

    Finance

    The company says that more than 95-percent of the closed stores in the US are within 10 miles of another location and will transfer store associates when possible. The small stores had been in pilot since 2011 and have since been rebranded as Neighborhood Market beginning in 2014. The financial impact of these closures is estimated to be approximately $0.20 to $0.22 of diluted earnings per share from continuing operations, with approximately $0.19 to $0.20 expected to impact the fourth ...
  • IRS kicks off tax season January 19

    IRS kicks off tax season January 19

    Finance

    Rauschenberger says in 2015 up to 900 North Dakotans were victims of identity theft. Typically, the first inkling that a legitimate taxpayer gets that she might be a victim is when her return gets denied by the IRS - because the scammers already filed in her name.
  • Wal-Mart stores closing in North Carolina

    Finance

    Most of the stores being closed are smaller-footprint businesses, called Walmart Express stores, located in the south. Wal-Mart Stores Inc is merging an Arkansas-based division that develops computer systems for its stores with a fast-growing technology unit in Silicon Valley, aiming to hasten its move to compete in the online era.
  • Obama: No new federal leases for coal mining companies

    Finance

    Even without new leases, the Department of Interior estimates coal companies have about 20 years of recoverable coal reserves already under lease on federal lands. Government auditors have in the past questioned the adequacy of the royalty rate and whether it provided an appropriate return, though they did not make specific recommendations to raise it.