FedEx’s holiday-quarter operating profits top forecasts
By Sony Kassam FedEx Corp. turned in stronger-than-expected third quarter results, which the package-delivery giant said reflected higher-than-expected demand during the holiday season when shipments peak. In the quarter ended Feb. 29, the Memphis, Tennessee-based package-delivery giant said net income tumbled 19 percent to $507 million, or $1.84 per diluted share, from $628 million, or $2.18 […]
Ethiopians find a home — and sometimes a hand — away from home in South Africa
By Hannah Gebresilassie “Sami, Sami!” two Ethiopian beggars shouted with their hands held out on a misty afternoon in Little Addis, an Ethiopian district on Jeppe Street in downtown Johannesburg. Sami Shiferaw stopped, pulled about 50 rand ($3) from his pocket and handed it to the men: “They’re our friends,” Shiferaw said. “I have to.” […]
Deepening crisis sends Valeant shares into a tailspin
By Poroma Pant Shares of Valeant Pharmaceuticals International Inc. went into freefall Tuesday after the embattled pharmaceutical company warned its investors of sharply curtailed earnings expectations and disclosed that it’s in danger of defaulting on some of its debt. In a conference call, analysts grilled Chief Executive Officer Mike Pearson with questions regarding his leadership […]
Retail sales sag for second straight month
By Sony Kassam Retail sales in the United States showed a softer than expected decline in February, but a downward revision for sales in January could signal concerns about the economy’s growth. The U.S. Department of Commerce said Tuesday that retail sales fell a seasonally adjusted 0.1 percent last month – a decline for the […]
Where dreams are made of carbon fiber
By Xiumei Dong and Iacopo Luzi Composite Envisions LLC, located in Wausau, Wisconsin, produces carbon fiber composite materials for customers around the world. As the company moves to a bigger factory, 29-year-old founder Cory Thorson, who became rich as a teen-age entrepreneur, said he is excited about the emerging opportunities. “More space, more employees, more […]
Six rules to successfully raise venture capital for your business
By Lucia Maffei So, you have launched your own business. You’ll need money. Given this scenario, you have two choices. First, financing your company with your own resources, by scraping every penny from savings or parents’ trust funds. Second, giving up part of your business’s control by partnering with one or more venture capitalists, in […]
Battle for the board: United shareholders plan proxy fight
By Poroma Pant Holders of a 7.1 percent stake in United Continental Holdings Inc. – unhappy with the company’s share price – plan to launch a proxy fight to claim six seats on the airline’s board. On Tuesday, United disclosed hedge funds PAR Capital Management Inc. and Altimeter Capital Management L.P. had advised the carrier […]
A Riveting Enterprise: Rivet Radio Inc.
By Poroma Pant “There’s an audio renaissance coming,” said John MacLeod, chief executive officer of Rivet Radio Inc., a Chicago-based digital news radio broadcaster that aims to replicate Pandora’s success with online music streaming but for news.
Federal Signal shares hit hard as gloomy guidance spooks investors
By H. Will Racke Even though it surpassed fourth quarter earnings expectations, Federal Signal Corp. saw its shares nosedive Monday after the manufacturing company issued pessimistic guidance for its 2016 performance. The share price of the Oak Brook, Ill.-based maker of safety and environmental-services equipment dropped by 22 percent, closing the day at $11.86. Investors […]
Illinois hopes to emulate other states with new business development partnership
By H. Will Racke Illinois is the latest state to establish a public-private economic development corporation in hopes that it will spur business investment. It’s especially needed now as the state continues to lose jobs and residents to its neighbors. Modeled on similar groups in other states, the new Ilinois Business and Economic Development Corporation […]
