Nintendo is on a winning streak

It’s like good, old times at Nintendo. Their recent forecast has Nintendo making 120 billion yen ($1.06 Billion) in profit through the end of 2017, nearly double the 65 billion yen ($572 million) it forecasted 3 months ago. These numbers make 2017’s 3rd quarter the best they have been since 2010 when Nintendo was still selling the Wii and DS consoles. The major jump in profits are thanks to Nintendo’s new console, the Switch,  read more>>

G.E. Change is GOOD

It seems new leadership means big changes at General Electric. John Flannery, G.E.’s new executive has taken over the reins and is planning major changes to help the industrial giant recover. Flannery has held the position for less than 3 months and he is already planning on cutting businesses by $ 20 Billion in the next couple of years. News of these big changes came when G.E. reported substandard profits during the 3rd quarter  read more>>

JetBlue Leaving Third Party Travel Sites

JetBlue has announced that it is removing its schedule fares from 11 online travel booking sites. It is following in the footsteps of Southwest, who has kept its flights off online travel sites in order to increase its bottom line. This is a move any airlines have begun to explore. When airlines post their flights on travel sites, those sites only show the cheapest seats on those flights. Airlines lose money because online travel  read more>>

Google Building the City of the Future

Google continues to be the leader of innovation. The company that created the most used search engine, and driverless cars is now planning on building the city of the future. Sidewalk, a company owned by Google has started planning a major project aimed at transforming a Toronto neighborhood into the city of the future. It has already pledged $50 million for the initial phase of the project, and Alphabet, the parent company of Google,  read more>>

Samsung hits highs and lows

 

Following the record high profit reports for the 3rd quarter of 2017, Samsung’s Co-Chief Executive Officer Kwon Oh-hyun has announced his resignation. The leadership struggles seen this year for Samsung are troubling. In August, the heir to Samsung, Lee Jae-yong, was convicted of Bribery and Corruption and sentenced to 5 years in jail. He was running Samsung, one of Koreas largest family owned companies when he was convicted. Following the scandal, Samsung appointed 3  read more>>

Kobe Steel Scandal

Japan’s Kobe Steel has admitted to falsifying quality data for some of its products for up to a decade. It is said that the corruption has affected up to 500 firms worldwide. Kobe, which is Japan’s 3rd largest steel producer, is now facing considerable financial trouble as the number of potentially affected clients increases. Firms that have had direct and indirect dealings with Kobe Steel are now looking at the products they manufacture to  read more>>

Nordstrom sale falls apart

 

This past June the Nordstrom family, which holds a majority stake in the high-end department store announced that it was looking to sale its controlling stake. However, this past Monday, Nordstrom stock fell 7% as reports have come out stating that the family has had troubles securing financing for the buyout following the bankruptcy filing by Toys R Us. This is yet another example of old school retailers struggling with the emergence of new,  read more>>

Amazon Now Wants to Deal Drugs…

Analyst have been speculating recently that Amazon’s next big move would be pharmaceuticals. An analyst report from Leerink, a boutique investment firm specialized in the health care business, said that Amazon will certainly enter the prescription drug distribution sector in the coming years. Following the report stock prices for Walgreens and CVS, the major market share holders in prescription drug dispensing, fell by nearly 5%. The drop continued into Monday as both fell an  read more>>

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