Nike Orders Miss Forecast As Competition Increases

Nike Store

Nike Inc’s future orders missed analysts’ estimates for the third time in a row, as the world’s largest footwear maker struggles with increasing competition from Under Armour Inc and a resurgent Adidas in North America. Shares of the company, which reported better-than-expected quarterly revenue and profit, fell 4.4 percent to $52.90 More...

by Callum Waters | Published 4 months ago
Wells Fargo
By Callum Waters On Wednesday, September 28th, 2016
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Wells Fargo CEO To Forfeit Around $41 Million In Pay As Board Orders Review

Wells Fargo & Co said on Tuesday that Chief Executive Officer John Stumpf will forfeit unvested equity awards worth about $41 million and will not get a salary while the company’s board investigates the More...

RBS
By Callum Waters On Wednesday, September 28th, 2016
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RBS To Pay $1.1 Billion To Partly Resolve U.S. Mortgage Claims

Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration (NCUA) said. The More...

ABInBev
By Callum Waters On Wednesday, September 28th, 2016
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SABMiller Shareholders Back AB InBev Takeover Offer By Majority

SABMiller shareholders backed the brewer’s $100-billion-plus takeover by rival Anheuser-Busch InBev by a large majority on Wednesday, paving the way for one of the biggest corporate mergers in history. The More...

Standard Chartered
By Kyle Brown On Tuesday, September 27th, 2016
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Standard Chartered Faces U.S. Probe Over Indonesian Investment

The Justice Department is investigating Standard Chartered PLC over allegations that an Indonesian power company controlled by the London-based bank paid bribes to win contracts. An internal audit at Maxpower Group More...

Pfizer
By Callum Waters On Tuesday, September 27th, 2016
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Drugmaker Pfizer Decides Not To Break Up Business

Drug giant Pfizer says it won’t split into two publicly traded companies, despite pressure from investors frustrated by its lagging stock price, ending years of Wall Street speculation over its strategy and future. The More...

Bank of America
By Callum Waters On Tuesday, September 27th, 2016
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Microsoft And BAML Team Up On Blockchain-Based Trade Finance Project

Microsoft (MSFT.O) and Bank of America Merrill Lynch (BAC.N) have joined forces on a project to use blockchain technology to make trade finance transactions faster, cheaper, safer and more transparent, the companies More...

Rolling Stone
By Bill Dorset On Monday, September 26th, 2016
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Singapore Music Startup, BandLab Acquires 49% Share Of Rolling Stone

The owning company of music brand Rolling Stone magazine has accepted an offer for a 49 percent share in the business from a Singapore based startup called BandLab which is attempting to boost its international More...

Deutsche Bank
By Kyle Brown On Monday, September 26th, 2016
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Deutsche Bank Stocks Drop To New Low On Fears Of U.S. Dispute

Deutsche Bank saw its shares drop to a new low on Monday after a report stated that the struggling German lender would be unlikely to receive any state-aid. A weekly news magazine known as Focus in Germany reported More...

John Stumpf
By Kyle Brown On Monday, September 26th, 2016
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Wells Fargo’s CEO Stumpf To Receive Over $120 Million On Retirement

Wells Fargo CEO John Stumpf has been estimated to gain $123.6 million in severance and stock valuations if the executive retires from the bank which has faced an investigation after millions of bank accounts were More...