Business

SoftBank buys majority stake in Line’s mobile division

Kiyoshi Ota | Bloomberg | Getty Images Takeshi Idezawa, chief executive officer of Line Corp., speaks during a news conference in Tokyo, Japan SoftBank has entered an agreement with Japan’s most common messaging service Line to acquire a majority stake inside company’s mobile business. Line Corp, which is actually dual-listed in brand-new York along with Tokyo, said Wednesday which the ...

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ADP boosts forecast as fresh tax law spurs demand

Payroll in addition to tax services provider Automatic Data Processing raised its full-year profit in addition to revenue forecasts as the company expects to benefit through the U.S. corporate tax reform. The company said the idea expects revenue growth of 7 percent to 8 percent in fiscal 2018, compared with its earlier forecast of 6 percent to 8 percent. U.S. ...

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Chicken suppliers fall amid allegations of collusion

Food suppliers US Foods in addition to also Sysco have initiated separate lawsuits accusing numerous large poultry suppliers of colluding to manipulate wholesale chicken prices, The Wall Street Journal reported Wednesday. The two companies, which are the largest food suppliers to U.S. restaurants from the country, alleged which the poultry processors, including Tyson Foods, Pilgrim’s Pride in addition to also ...

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As Bon-Ton shutters stores, Kohl’s could reap the benefits

Kohl’s could be the biggest winner in retail as regional department store chain Bon-Ton restructures its store fleet, according to Jefferies. “Bon-Ton’s closures could be a cherry on top” for Kohl’s, analyst Randal Konik said in a note to clients. Bon-Ton on Monday updated analysts along with investors on its ongoing negotiations with lenders, having recently entered into a forbearance ...

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Vape shops sue to block US regulation covering e-cigarettes

A group of vape shops in a few U.S. states on Tuesday announced a trio of lawsuits challenging a rule adopted by the Food along with Drug Administration of which allows the regulator to treat e-cigarettes along with similar devices like cigarettes. The vape shops, represented by the Pacific Legal Foundation conservative legal group, in lawsuits filed in federal courts ...

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Venezuela says will pre-sell ‘petro’ cryptocurrency on Feb. 20

A pre-sale of Venezuela’s brand-new “petro” cryptocurrency will begin on Feb. 20, President Nicolas Maduro said on Tuesday, a move in which the government hopes will help pull the country out of a dire economic crisis. Critics have slammed the initiative as not only illegal however nothing more than a debt issuance by the government amid quadruple-digit inflation as well ...

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