Business Buzz

By Michael Hartley CFP® | A collection of the latest articles to help you spot business news, trends, and tools. Curated by DKE Inc. www.dkeadvisorsolutions.com

Meet the Chinese Billionaire Who's Moving Manufacturing to the U.S. to Cut Costs

While it has been said for a long time that the U.S. is bleeding manufacturing jobs overseas, particularly to China, some businesses have been moving …

China

Tesla earns contract for world's first solar, wind and storage project

Tesla has won its first contract with Vestas, the world’s largest wind turbine maker, to supply its Powerpack batteries for a project that combines …

Renewable Energy

CEO of Saks and Lord & Taylor steps down

These are trying times for retail. Hudson's Bay Company -- which owns the Saks Fifth Avenue and Lord & Taylor department stores -- is no exception.<p>The Canadian-based company has reported net losses in the hundreds of millions of dollars. It announced earlier this year that it has reduced its …

Saks Fifth Avenue

Opening Quote: Daimler profits down

Daimler profits down. FT <i>Opening Quote</i> is your early Square Mile briefing. You can sign up for the full newsletter here.<p><b>Daimler</b> profits fell in the …

Markets

The East Coast Hyperloop Might Actually Be Happening

Hyperloop Go!<p>For the first time in the short history of the Hyperloop, a government official has stated that the fabled East Coast project — …

Hyperloop

BMW headquarters searched by EU investigators

<b>BMW has confirmed its head office was searched this week by European Union officials investigating an alleged cartel among five German carmakers.</b><p>EU investigators are looking into allegations that BMW, Daimler, VW, Audi and Porsche colluded to limit their spending on emissions technology.<p>BMW said EU …

World Politics

Apple’s new Chicago flagship store is more than an architectural marvel

Apple opened a new flagship store in downtown Chicago yesterday and it is stunning. Sitting right along the Chicago River, Apple Michigan Avenue has been moved south about 5 blocks. 14 years ago Apple opened its first flagship store here in Chicago, and now they are doubling down on their mission: …

Consulting

Wells Fargo Scandals Expand With Firing of Foreign Exchange Bankers

Wells Fargo’s troubles continue to worsen, with the <i>Wall Street Journal</i> reporting that the bank has fired four foreign-exchange bankers, most of them …

Wells Fargo

Elon Musk's Boring Company gets permission to dig a 10-mile tunnel in Maryland

The hyperloop is moving ahead.<p>Elon Musk got permission from Maryland officials for his Boring Company to build a 10-mile tunnel in the state, the</i> …

Elon Musk

PayPal’s quarter exceeded expectations across the board

PayPal, the digital payments company, shared its growing financials after the bell on Thursday. Shares ticked up about 4 percent in initial after-hours trading.<p>The company beat Wall Street’s expectations for the third quarter, posting an adjusted 46 cents per share. Analysts had been predicting 43 …

Markets

Japan's Mitsubishi, U.S. partner to invest $1.8 billion in data centres: media

TOKYO (Reuters) - Japanese trading house Mitsubishi Corp (8058.T) plans to set up a joint venture with U.S. data centre operator Digital Realty Trust (DLR.N) and build around 10 data centres in Japan by 2022 for 200 billion yen ($1.8 billion), the Nikkei said on Saturday.<p>Tokyo-based Mitsubishi …

Japan

Sorry Microsoft, Delta is switching to iOS

Delta Air Lines plans to ditch all its Windows devices in favor of iOS next year.<p>iPhone 7 Plus will replace its fleet of Nokia handsets, while iPad Pro will take the place of Microsoft’s Surface tablet.<p>Delta has been using Windows devices for a range of tasks. Nokia Lumia phones provide in-flight …

IPad Pro

Project Loon's LTE balloons are floating over Puerto Rico

About a month after Hurricane Maria's devastating landfall on Puerto Rico, and a couple of weeks after the FCC gave clearance, Project Loon is bringing wireless internet to people on the island. Part of (Google parent company) Alphabet's X innovation lab, the project uses balloons circling the …

Project Loon

BuzzFeed is investigating allegations of harassment by its employees

• <b>BuzzFeed is investigating allegations of harassment by its employees.</b>• <b><br>The investigation follows a BuzzFeed report about a list titled "Sh---- Media Men."</b>• <b><br>BuzzFeed staffers appeared on this list, which is anonymously sourced. The number of BuzzFeed employees on the list sparked a conversation among</b> …

Buzzfeed

Monsanto sues Arkansas board for banning disputed herbicide

LITTLE ROCK, Ark. (AP) — A major agribusiness company sued Arkansas regulators on Friday for banning its version of an herbicide that's drawn complaints from farmers across several states who say the weed killer has drifted onto their crops and caused widespread damage.<p>Monsanto asked a state judge …

Agriculture

Hudson’s Bay C.E.O. to Step Down Before Holiday Shopping Season

The chief executive of the Hudson’s Bay Company, the owner of Saks Fifth Avenue and Lord & Taylor, is departing ahead of the crucial holiday shopping season, as the retail industry faces increasing turmoil.<p>Gerald L. Storch, who has run Hudson’s Bay since January 2015, will step down from his post …

eCommerce

Costco Is Worried It's Losing to Wal-Mart and Amazon

The warehouse club is hurrying to play catch-up in grocery delivery to keep from losing members.<p><b>Costco</b> (NASDAQ:COST) never bought into the idea it …

eCommerce

Apple and AT&T activate provisional LTE Band 8 to give iPhone users in Puerto Rico cellular service

Apple has been working with AT&T to extend and activate cell service for users in Puerto Rico. To improve what is a terrible connectivity situation there, it’s going to enable a provisional band of LTE that has been recently approved, but not activated in the US and Puerto Rico, where it has not …

Project Loon

3 reasons you should pay attention to Google’s $1 billion Lyft investment

Lyft got a major boost in the form of a billion-dollar investment round, and an earlier rumor was confirmed: CapitalG, Google parent company …

Uber

GE's nightmare just got worse

General Electric, one of America's iconic companies, is in deeper trouble than we realized.<p>GE's third-quarter profit deteriorated more than Wall Street feared, and the company dimmed its forecast significantly. The bleak news sunk GE's beaten-down stock as much as 6% on Friday before it …

Markets

Why Airbus’s tie-up with Bombardier is so damaging for Boeing

LIKE an airliner in service, Bombardier’s C-Series programme has had multiple highs and lows. In 2008 the Canadian firm began its attempt to break …

Aerospace

Amazon's Deadline for HQ2 Is Today: Here Are the 5 Most Likely Winners

It's a huge opportunity considering the second headquarters is expected to bring with it as many as 50,000 jobs and tens of billions of dollars' worth of investment.<p>Today is the deadline for cities all around North America to submit their proposals to Amazon, which is looking for a spot to build a …

Cities

VidAngel Uses Bankruptcy Strategy To Fend Off Studios

VidAngel, the film and television streaming service that filters out objectionable content, filed for chapter 11 bankruptcy protection on Wednesday. The filing comes less than two months after the Ninth Circuit ruled in favor of Disney, 20th Century Fox and Warner Bros in the studios’ lawsuit …

Legal Services

The legal entity identifier: The value of the unique counterparty ID

New research undertaken by McKinsey & Company and the Global Legal Entity Identifier Foundation (GLEIF) estimates that broader, global adoption of …

Legal Services

Apple and GE announce deep partnership

While Apple has had its share of enterprise partners in recent years including IBM, Cisco and SAP, today’s announcement that it will be working directly with GE feels a bit different with the two companies more closely intertwined than in previous deals.<p>Apple and GE have committed to build a set of …

Wind Power

Einhorn Says GM Outmaneuvered Him in Stock Split Battle

Hedge fund manager David Einhorn said he bungled his campaign to get General Motors Co. to split its stock and conceded he was outmaneuvered by the …

Markets

Kenneth Chenault to step down as AmEx CEO after nearly 17 years

(Reuters) - American Express Co said its chairman and chief executive Kenneth Chenault would step down early next year, ending a nearly 17-year tenure at the helm of the No. 1 U.S. card issuer by spending.<p>Chenault, 66, will be succeeded by Vice Chairman Stephen Squeri, 58, effective Feb. 1, the …

Markets

70% Of Apple Watch 3 Buyers New To Platform; 80% Buying Cellular Version

70% of Apple Watch Series 3 buyers are buying their first-ever Apple Watch, says GBH Insights analyst Daniel Ives. And 80% of Series 3 buyers are buying the LTE-equipped cellular version, which eliminates the need for an always-near paired phone.<p>Both of those numbers are huge for Apple.<p>Apple has …

Smartwatches

SeaWorld is laying off 350 workers as attendance wanes

SeaWorld has had a rough few years.<p>The company, which has been cutting costs, announced Wednesday that it's laying off 350 employees in the face of low park attendance.<p>"It is an unfortunate, but necessary, consequence of the restructuring that some positions will be lost," spokeswoman Aimée …

San Diego