Category: Featured News

At the request of U.S. law enforcement, Swiss authorities have been ordered to surrender documents pertaining to at least 18 banks and an unknown number of American businesses, according to Bloomberg News. The increased pressure from the American Justice Department comes after widespread allegations of corruption throughout the Swiss banking infrastructure. While none of the 18 banks have been implicitly accused of anything, an official statement from Switzerland’s financial regulator, Finma, states that the organization is “aware of the case … Continue reading “Swiss Banks Find Themselves in Hot Water With U.S. Authorities — For the Umpteenth Time”

Nations around the world have been looking for ways to curb childhood obesity for more than a decade. Now, the UK has taken an enormous step towards this goal by imposing a tax on all sugary drinks. According to The Guardian, Chancellor of the Exchequer George Osborne has announced the UK’s plan to place a substantial tax on sugary soft drinks, starting in April 2018. The new tax is intended to combat the growing epidemic of childhood obesity in the UK, … Continue reading “UK Announces New Tax on Sugary Soft Drinks in an Effort to Combat Childhood Obesity”

When wunderkind Martin Shkreli famously jacked up the prices of Daraprim from $13.50 a pill to $750, he unknowingly triggered a series of events that continues to wreak havoc on Wall Street today, with Valeant Pharmaceuticals tumbling down the stock market. This March, the FDA announced new rules intended to tamp down on Shkreli-style price gouging, and soon after Valeant revised its revenue projections downwards. After the Shkreli price-gouging story first broke, the young entrepreneur became a whipping boy for … Continue reading “Martin Shkreli is Still Causing Problems for Valeant, Pharmaceutical Industry”

Despite the gloomy, nearly apocalyptic tone on the U.S. presidential campaign trail, the U.S. labor market has been growing steadily in recent years. This March, the U.S. is celebrating 72 consecutive months of job growth, and in total more than 14 million private sector jobs have been created in the last six years. Still, U.S. workers are justified in feeling anxious, as the country continues to lose many jobs to foreign employers. The global heating, ventilation and air conditioning industry … Continue reading “Good News, Bad News for the U.S. HVAC Industry so far in 2016”

Efforts to cut back on nicotine use in U.S. society have been hugely successful, with rates of smoking falling across the board. Today, tobacco product commercials are banned, and it’s rare to see characters lighting up on television or movie screens. Yet alcohol advertisements remain a ubiquitous part of American life. Beer commercials are an enduring staple of American sporting events. A recent Super Bowl advertising campaign for Bud Light recruited popular comedians Amy Schumer and Seth Rogen, and Budweiser’s … Continue reading “Are Alcohol Ads Going the Way of Cigarettes and Tobacco?”

Pittsburgh Glass Works LLC, a leading distributor of automotive glass and service business, is to be sold to LKQ Corp by PPC Industries Inc and Kohlberg and Company LLC, in a deal for $635 million. PPG had already divested PGW and sold a majority stake in the Pittsburgh Glass Works stocks to Kohlberg in 2008. The transaction is expected to be completed in the second quarter of 2016. Michael McGarry, PPG President and Chief Executive Officer, stated that “PGQ’s sale … Continue reading “Pittsburgh Glass Works To Be Sold to Chicago-Based Company”

Paris, and the rest of France, attracts hundreds of thousands of American and European tourists all year long, and remains a highly coveted destination. The Lourve continues to be the most visited museum in the world, and on average, a tourist in France spends 62 euros a day. However, all that tourism money doesn’t make up for the $1.8 billion (1.6 billion euros) that Google owes the country in unpaid taxes. Google CEO Sundar Pichai met with France’s economy minister … Continue reading “Google Owes $1.8 Billion to France In Back Taxes”