Economy News

General Electric Agrees To Sell Appliance Unit For $5.4B (NYSE:GE)

General Electric Agrees To Sell Appliance Unit For $5.4B (NYSE:GE)

General Electric has announced the planned sale of its appliance unit to Chinese manufacturer Haier for $5.4 billion in cash. The deal also includes the 48.4 percent stake that GE Appliances owns in Mexican appliance company Mabe. The transaction is expected to close in mid-2018. The purchase must passes regulatory […]

United Reintroducing Free Snacks for Economy Passengers

United Reintroducing Free Snacks for Economy Passengers

Months after it announced a new Chief Executive who promised to hear feedback from customers, United Airlines responded, it will reintroduce free snacks beginning in February. Breakfast snacks, which the airline calls a small piece of caramel heavy between crispy wafers, are amongst the free snacks that United will be […]

Ashley Madison Rebounds with Millions of New Users

Ashley Madison Rebounds with Millions of New Users

They say that no publicity is bad publicity and for Ashley Madison, the site for men who want to have an affair that might very well be the case. A massive breach of data that exposed information of millions of spouses who were unfaithful apparently has not kept the site […]

Northrop Wins Deal for $93 Million to Manufacture Drone

Northrop Wins Deal for $93 Million to Manufacture Drone

Northrop Grumman Corp won a contract of just over $93 million to manufacture a full-scale demonstrator of an unmanned spy drone, a flying wing that has large counter rotating propellers, which could take off as well as land on frigates, and destroyers, said the Pentagon late this week. Northrop has […]

JPMorgan Chase Agrees To London Whale Class Action Suit Settlement (NYSE:JPM)

JPMorgan Chase Agrees To London Whale Class Action Suit Settlement (NYSE:JPM)

JPMorgan Chase & Co has agreed to pay $150 million to resolve a class action lawsuit over its London Whale trading scandal that emerged in 2012. The trading scandal caused a $6.2 billion loss, dropped JPMorgan’s share price by roughly one-quarter, and wiped out more than $40 billion of market […]