The appointment will be effective January 1, 2014. Akins is the company's president and CEO.
The upscale grocery chain is valued at almost $12bn, but six straight quarters of declining sales have led to speculation of a takeover bid. Whole Foods’ share price has dropped by almost half since October 2013. Lunchtime customers at Whole Foods in Manhattan’s Union Square had little trouble expressing the shortcomings that have led the once high-flying, organic-focused retailer to become linked with a takeover.
At a recent conference, retirement experts concluded that the lack of an easy drawdown mechanism in 401(k) plans was the major challenge facing the 401(k) system. In 2014, the Treasury Department and the IRS issued guidance that made longevity annuities accessible to 401(k) plans and that enabled target date funds to include annuity contracts either as a default or as a regular investment option. But individual plan sponsors feel under siege by lawsuits and see little payoff to being innovative. At the same time, Congress is unlikely to mandate that annuities be a part of 401(k) arrangements. So we are at a standstill. Millions of Americans — having been told that their retirement plans are automatic
Shares of Amazon have come a long way since the company's 1997 initial public offering. Since then, Amazon shares have sky rocketed 48,197% from their May 15, 1997 debut of $18 a share. Before Amazon was the "Everything Store" it was an online book store
By Allison Lampert and Alwyn Scott MONTREAL/NEW YORK (Reuters) - Canada's Bombardier Inc hit back on Friday at rival U.S. planemaker Boeing Co's claim that it sold jets well below cost to win market share in the United States, the latest sign of increasing trade tensions between the two countries. The risk of the United States imposing a tariff, which would likely depress sales of Bombardier's newest jet, and concern over how big that tariff might be, unsettled investors, sending the Canadian company's shares down just over 4 percent. Boeing wants the U.S. government to investigate what it describes as rock-bottom prices for Bombardier's new CSeries aircraft, including an "absurdly low" sum of $19.6 million it says Delta Air Lines Inc paid for a jet costing $33 million to build.
Apple is refusing to pay any royalties owed to mobile chip maker Qualcomm for some of the features in the iPhone, escalating a patent feud that has turned the former business partners into bitter adversaries. The latest twist in the dispute represents a major blow for Qualcomm, which depends on licensing fees for a large portion of its revenue. Apple's decision to withhold royalties will cost Qualcomm up to $500 million in the current quarter alone, based on revised revenue estimates that Qualcomm released Friday.
Elizabeth Warren and Bernie Sanders are not happy about reports that former President Barack Obama will be paid $400,000 to speak at a September health care conference put on by the Wall Street firm Cantor Fitzgerald. Sanders' distrust of politicians receiving what he considers exorbitant paychecks for speaking to major investment banks is well known.
The U.S. government is investigating whether General Motors should add about 312,000 vehicles to a 2015 recall for headlights that can suddenly go dark. The National Highway Traffic Safety Administration says 128 owners have complained that low-beam lights can fail. At the time of the recall GM said the headlamp module in the engine compartment could overheat and stop working properly.
When the heedless Recip Tayyip Erdoğan ordered Turkish jets to bomb Kurdish targets in Syria and Iraq this week—ignoring vigorous American objections—he faced the Trump administration with a question it can’t flinch from much longer: Is Turkey turning from a longtime ally into adversary? Erdoğan’s repeated betrayals can no longer be shrugged off, given the key role Kurdish forces play in the anti–ISIS alliance. Americans know Kurdish militias are the most effective fighters in the war against the Islamic State.
Getting to the bottom of President Donald Trump's tax plan is difficult because it exists so far as bullet points on a single page, with no detail. Treasury Secretary Steve Mnuchin, in remarks Wednesday, channeled Trump's penchant for exaggeration. "This is going to be the biggest tax cut and the largest tax reform in the history of our country," Mnuchin contended.
The battle against anxiety disorders and panic attacks since childhood is the focus of Wall Street Journal contributor Andrea Petersen's forthcoming book, "On Edge." She describes fears of carrying out simple activities in life and traces mental illness through her family. Photo: Brian Stauffer
The passenger who was dragged off a United flight after he refused to give up his seat to airline employees settled with the airline for an undisclosed sum Thursday in an apparent attempt by the company to put the fiasco behind it as quickly as possible. David Dao's legal team said in a brief statement that the agreement includes a provision that the amount will remain confidential. One his lawyers praised United CEO Oscar Munoz.
Upon the release of BioMarin's orphan drug Brineura, which made headlines for its $702,000-per-year price tag, chairman and CEO JJ Bienaimé said the system will have the final say on whether the sky-high price is fair. "Obviously, the system will have to determine that," he told Cramer on Friday. "I think, hopefully, ... if there is any kind of regulations coming around health care, that they will make sure that those regulations protect innovation and protect innovative biotech companies," Bienaimé said. Finally, Cramer spoke with AGCO Chairman, President and CEO Martin Richenhagen to understand more about how President Donald Trump's protectionist slant might affect the agricultural landscape.
On April 11, offshore driller Seadrill Ltd (NYSE:SDRL) announced some very good news for a change. The company said, in a press release, that it had secured 10-year contracts for two offshore drilling vessels, worth $1.4 billion in long-term revenue. And while the company did sacrifice some short-term revenue, since the agreements included reductions in near-term dayrates, the contracts are an unequivocal win for Seadrill. But that doesn't necessarily mean they're a good thing for current Seadrill shareholders. Let's take a closer look at why investors shouldn't count on an upside. Seadrill's new contract extensions According to the release, Seadrill subsidiary North Atlantic Drilling reached
U.S. Steel (X) lost a quarter of its value on Wednesday when it reported a surprise loss, and while some analysts have tried to defend the company, others have thrown in the towel. Illustration: Agence France-Presse/Getty Images Deustsche Bank, for instance, cut U.S. Steel to Hold from Buy yesterday, and today, Macquarie's Aldo Mazzaferro slashed his rating to Underperform from Neutral, a move that even I could see coming from a mile away. When U.S. Steel reported, Mazzaferro noted that he was "very disappointed," especially because he had only recently upgraded its shares to Neutral from Underperform. "We remain concerned that the company’s high-fixed costs, amplified by weak volumes and pricing,
Shares of master limited partnership Enbridge Energy Partners (EEP) were rising nicely Friday after the crude pipeline operator concluded a long-anticipated strategic review and announced a 40% distribution cut. It is also selling off its Midcoast gathering and processing business for $2.15 billion, which includes over a billion in cash plus debt of Midcoast Energy Partners (MEP). It also redeemed preferred stock and changed its incentive distribution rights.
French pharma giant Sanofi has been trying its best to snap up assets in the face of falling sales and competition for its flagship diabetes drug franchise. On Thursday, a number of tea leaves surfaced suggesting the firm may have rare disease specialist Sarepta Therapeutics in its crosshairs. Sarepta chief Ed Kaye announced that he’ll be stepping down from his perch (while remaining a Sarepta board member and director).
Shares of luxury fashion brand Vince (NYSE: VNCE) tumbled nearly 40 percent Friday, after the company said it has "substantial doubt" about its ability to continue as a going concern for the next 12 months. Its warning comes roughly one month after struggling department store Sears (NASDAQ: SHLD) made the same statement in its annual filing with the Securities and Exchange Commission. A change in accounting regulations that went into effect during the first quarter now requires management teams to assess whether there are "conditions or events" that raise substantial doubt about their company's ability to stay in business for the next year.
CEO Jack Dorsey has purchased an additional $9.5 million in Twitter shares — just two days after his company reported better than expected earnings for its first quarter. Dorsey bought 574,002 shares of Twitter on Friday, according to a filing with the SEC. Based on his exercised share price of $16.62 on Friday, Dorsey's latest purchases means that he now owns roughly $267 million worth of shares.
IranAir has abandoned plans to take early delivery of a Boeing 777-300ER jetliner because the passenger plane is no longer available, the head of the Islamic Republic's national flag carrier was quoted as saying by Iranian media. Iran had been expected to receive the first of 80 aircraft ordered from the U.S. planemaker in April or May 2018, but Iranian media and industry sources said this month it might get the first Boeing jet a year earlier than expected under a proposal to swap deliveries with Turkish Airlines . "Boeing had proposed to hand over a 777-300ER by summer after Turkish Airlines withdrew its order for it.
United Airlines and the passenger who was dragged from a Chicago flight earlier this month have reached a settlement for an undisclosed sum, they said on Thursday, in the carrier's latest step to contain damage from an incident that sparked international outrage. Viral videos of Dr. David Dao being dragged down the aisle of a United jet and Chief Executive Oscar Munoz's handling of the incident touched off a public outcry, prompted calls from congressmen for new industry regulation, and led United's board of directors to reverse an agreement to make Munoz company chairman in 2018. Southwest Airlines also said on Thursday that it would end overbooking of flights.
The fate of stock under President Trump was once considered something of a wild card. Apple CEO Tim Cook, after all, has clashed with Trump on everything from iPhone encryption to immigration, and was even reportedly on an early short list of potential running mates for Hillary Clinton. Apple shares have returned more than 20% since Trump entered the White House, making the tech company the best-performing stock in the Dow Jones industrial average during the first 100 days.
Congrats, grads: The proportion of employers planning to hire recent college graduates hit a decade-high this year. Almost three-fourths of employers intend to hire college graduates this year, according to a new survey from CareerBuilder. "Competition for soon-to-be college grads is escalating to a degree we haven't seen in the last 10 years," said Rosemary Haefner, chief human resources officer for CareerBuilder.
By Jeff Mason, Steve Holland and Stephen J. Adler WASHINGTON (Reuters) - President Donald Trump downplayed the severity of a potential government shutdown on Thursday, just two days shy of a deadline for Congress to reach a spending deal to avert temporary layoffs of federal workers. If there's a shutdown, there's a shutdown," Trump told Reuters in an interview, adding that Democrats would be to blame if the federal government was left unfunded. Congress has until 12:01 a.m. ET on Saturday to pass a bill to fund the government or face a shutdown, which would temporarily lay off hundreds of thousands of federal workers.
It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed: Halliburton Company: "I'm not going to give up on Halliburton. I liked that quarter very much. The chart's bad. People are really giving up on all the oils. I'll take some Halliburton if it gets to $42, $43. I think that's a good price." Royal Dutch Shell: "No, I thought they took on a bridge too far with that last acquisition. That's why I prefer Chevron, which had a pretty decent quarter today." Bank of the Internet USA: "I don't know. Too much risk there, my friend. I'd rather own JPMorgan. I think that's a little more, let's just say, strong." Boingo Wireless