Featured Articles in National Business News

Supreme Court to consider major digital privacy case on Microsoft email storage

The Supreme Court on Monday accepted a second important case on digital privacy, agreeing to hear a dispute between the federal government and Microsoft about emails stored overseas. The justices increasingly have been called upon to settle legal battles between law enforcement and technology companies, and to interpret laws written before the technology revolution that Read More…

VCs determined to replace your job keep AI’s funding surge rolling in Q2

These are good times for AI entrepreneurs. Recent analysis of venture data shows that funding for artificial intelligence startups continues its upward trend in 2017, with investment hitting new highs. (For deep dives into aggregate Q2 venture performance, head here for the world, and here for just the U.S.) Venture, corporate and seed investors have put an estimated $3.6 Read More…

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Kobe Steel data fabrication continued after misconduct discovered: Nikkei

TOKYO (Reuters) – Data fabrication at Kobe Steel Ltd (5406.T) continued at its aluminum and steel unit after an internal investigation discovered the misconduct, the Nikkei newspaper reported on Friday. FILE PHOTO: A man walks past the signboard of Kobe Steel at the group’s Tokyo headquarters in Tokyo, Japan October 10, 2017. REUTERS/Issei Kato/File Photo Read More…

Chevron Temporarily Suspending Operations in Iraqi Kurdistan

Iraq’s backlash against Kurdish independence is reordering the region’s booming energy business, forcing Chevron Corp. to suspend operations in Iraqi Kurdistan, opening potential opportunities for BP PLC and unsettling Russian companies’ bet on the Kurds. Chevron said Thursday that it was temporarily halting drilling in the region. The decision was taken because of fighting in Read More…

Unilever, Nestlé Test Investor Patience With Slower Sales

Two of the world’s biggest consumer goods companies—both caught in investors’ crosshairs—reported another round of weak sales, ratcheting up pressure to accelerate promised turnarounds. Unilever PLC missed analysts’ sales forecasts by a wide margin, Thursday, reporting growth in the third quarter of 2.6% compared with a year earlier. Analysts had expected the maker of Dove Read More…

Imprimis Pharma to take on Allergan's Restasis with cheaper product

(Reuters) – Shares of Imprimis Pharmaceuticals Inc (IMMY.O) sky-rocketed as much as 91 percent on Thursday, after the company said it would launch a cheaper alternative to Allergan Plc’s (AGN.N) controversial dry eye drug, Restasis, by next month. San Diego-based Imprimis’ therapy will cost 99 cents for a month’s supply, with refills starting at $79 Read More…

Ackman urges ADP to consider acquiring Ceridian amid proxy fight

BOSTON (Reuters) – Activist investor William Ackman, currently battling for board seats at Automatic Data Processing Inc (ADP.O), on Thursday said the human resource software company should buy rival Ceridian, in a move that could woo customers with a better product. Ackman said Minnesota-based Ceridian could be acquired for roughly $4 billion, adding, “This may Read More…

Japan government wants to get actively involved in Kobe Steel issue: trade minister

TOKYO (Reuters) – The Japanese government wants to get actively involved in the issue of Kobe Steel’s (5406.T) data fabrications, Hiroshige Seko, the minister of economy, trade and industry, said on Friday. Kobe Steel, Japan’s third-biggest steelmaker, admitted earlier this month that it had falsified specifications on the strength and durability of its products. The Read More…

Exclusive: Tech companies to lobby for immigrant 'Dreamers' to remain in U.S.

SAN FRANCISCO (Reuters) – Nearly two dozen major U.S. companies in technology and other industries are planning to launch a coalition to demand legislation that would allow young, illegal immigrants a path to permanent residency, according to documents seen by Reuters. The Coalition for the American Dream intends to ask Congress to pass bipartisan legislation Read More…

WeWork: A $20 Billion Startup Fueled by Silicon Valley Pixie Dust

When Adam Neumann pitches potential investors on his startup, WeWork Cos., he likes to rev them up with a jaunt through his company’s shared office spaces. Before arriving, the 38-year-old chief executive typically sends staffers a directive: “Activate the space.” WeWork’s employees swarm a lounge to host an impromptu party with pizza, ice cream or Read More…

Nissan's inappropriate inspections started at least 20 years ago: NHK

TOKYO (Reuters) – Inappropriate inspection practices at Nissan Motor Co (7201.T) had been going for at least 20 years, Japanese national broadcaster NHK reported on Friday, in a new revelation that could further roil Japan’s second-biggest automaker. Nissan said late on Thursday it was suspending domestic production of vehicles for the Japanese market for at Read More…

PayPal tops profit estimates, lifts target on mobile payments growth

(Reuters) – Sharp growth in mobile payments led PayPal Holdings Inc (PYPL.O) to report a better-than-expected third-quarter profit on Thursday and lift its guidance for earnings through the rest of the year. The San Jose, California-based payments company has been working hard in recent years to expand its reach to new customers through partnerships and Read More…

PayPal quarterly profit beats on higher mobile transaction volume

(Reuters) – Payment processor PayPal Holdings Inc (PYPL.O) reported a better-than-expected quarterly profit on Thursday, helped by growth in mobile payments volume. The company’s shares rose 4.3 percent to $70.18 in extended trading after closing barely changed at $67.25. San Jose, California-based PayPal has been expanding its services to gain advantage over rivals in the Read More…

Stitch Fix, in IPO Filing, Reveals Annual Sales of Nearly $1 Billion

Apparel retailer Stitch Fix, which sends customers boxes of preselected outfits, has filed for an initial public offering and revealed just how quickly its business has grown at a time when traditional clothing chains are struggling. The documents offer a glimpse into the six-year-old startup’s rapid growth. Revenue surged to $977 million in the year Read More…