Business

Ammo Dealers Make Record Sales as California’s Governor Passes 6 New Gun Bills

Ammo Dealers Make Record Sales as California’s Governor Passes 6 New Gun Bills

Business
The governor of California recently signed six new gun bills as part of the state’s public safety and gun control efforts. With one of the new bills, sellers on ammunition will be required by law to perform background checks on customers before selling to them. Also, individuals who have high-capacity magazines will have to turn them in. According to reports from local news outlets, ammunition dealers recorded a massive surge in sales following the signing of the bill. Apparently, residents were stashing ammo ahead of when the bills will be passed into law. California Residents Stash Ammo Ahead Of Gun Laws According to store owners in Los Angeles, individuals spent hundreds of dollars purchasing ammo last week and over the weekend as they hurried to buy before Monday, July 1st when t
Business Groups in The United States Insist on Enforceable Agreement with China

Business Groups in The United States Insist on Enforceable Agreement with China

Business
Recently, the President of the United States, Donald Trump, said that he is ready to resume the trade negotiations with China. Shortly after the decision was made public, the business groups in the United States said that they were happy that the President was willing to resume trade talks but they need more details from the White House. They said that the only way to solve the problem is to negotiate a lasting change to the unfair trade practices by China.  United States Chamber Of Commerce Praises Trump But Insists On Lasting Change  The United States Chamber of Commerce stated that it needs an enforceable agreement that would involve Beijing committing to keeping its markets open. The business group also stated that it needs the Chinese capital to increase protection for intellectua
iPhone’s Designer, Jony Ive Leaves Apple to Start His Own Business

iPhone’s Designer, Jony Ive Leaves Apple to Start His Own Business

Business
  Apple just lost one of its oldest developers who had a key role to play in making Apple the most valuable tech company in the world. According to reports on Financial Times, Jony Ive, who designed the iPhone, iPod, and the iMac, will be leaving Apple to start his own firm called LoveForm. The reports revealed that Ive will be leaving on a good note as Apple will be the first client of his startup. Jony Ive Is Leaving Apple To Start LoveForm Even if his departure from the company is natural and expected, it comes at a time when shareholders are concerned about the dropping iPhone sales. You'll recall that another key member of Apple, Angela Ahrendts, left the company about two months ago. Ive worked with Apple for almost 30 years and says that he never regretted his decision to b...
Small Businesses Owners can now Grow their Business with Google’s SMB Initiative

Small Businesses Owners can now Grow their Business with Google’s SMB Initiative

Business
As a small or medium scale business owner, your goal will always be to grow your business and expand your reach. Thankfully, there are many initiatives that you can take advantage of when you want to grow your business and Google has just added its SMB initiative to the list. According to reports, Google for Small Business will be one of Google's portals that are explicitly dedicated to small businesses. Google Launches SMB Initiative For Small Businesses Using the Google SMB portal, small businesses can take advantage of several features, tools, and services that will make them more visible to the targeted audience and boost their online presence. Apart from offering in-house services, the platform will also be used by entrepreneurs who are looking for in-person workshops. The Google...
CEO Tesla Inc., Elon Musk About to Cut Down Workforce to Improve Corporate Governance

CEO Tesla Inc., Elon Musk About to Cut Down Workforce to Improve Corporate Governance

Business
Tesla Inc. said it would cut the size of its board members to 7 from 11 directors. This is as part of a series of moves which is designed to improve corporate governance. This move has also made three of Chief Executive Elon Musk’s longtime allies decide to step down. According to Elon Musk, the cut would affect about 9% of its entire workforce and end the company's partnership with Home Depot. This cut would result in nearly 3,400 jobs lost at 9% seeing that Tesla Inc. had 37,543 full-time employees as of the 31st of December 2018.Musk, however, has left the production teams alone which made Michelle Krebs, an Autotrader analyst say that the production teams were untouched because Tesla needs them to get the Model 3 production rolling. The company plans to end its deal to sell solar
McDonald Removes Signature Crafted Burgers from its Menu to Concentrate on Quarter Pounders

McDonald Removes Signature Crafted Burgers from its Menu to Concentrate on Quarter Pounders

Business
McDonald’s Corp has said that it will not be producing its Signature Crafted burgers anymore due to cost and production time. In May 2017, McDonald launched its Signature Crafted burger line in an attempt to keep up with the competition from rival brands like Wendy's and Shake Shack who make premium burgers with fresh ingredients. The company has, however, said that it is discontinuing the production of premium burgers and focusing on the more popular Quarter Pounders. The Signature Crafted burgers according to the company takes more time to prepare and this slowed down services at drive-thrus and stores. The condiments used in making the premium burgers which include maple bacon dijon, sweet BBQ bacon and pico guacamole are harder to put together. This makes the premium burgers mor
Hulu Acquires AT&T’s Stake for $1.43 Billion

Hulu Acquires AT&T’s Stake for $1.43 Billion

Business
Hulu has bought back the 9.5 percent stake of wireless carrier, AT&T three years after Time Warner bought it from them. The deal which was announced on Monday is valued at $1.43 billion and gives Hulu ownership of the stake that Time Warner - now a part of AT&T- bought from them in 2016. At the time, Hulu’s total value was $5.8 billion while their competitor, Netflix, was valued at $41 billion. Hulu which currently has more than 25 million subscribers is expected to record a loss of $1.5 billion in the current fiscal year. Walt Disney Co and Comcast Corp’s NBCUniversal have a joint venture agreement that gives the former a 60 percent stake in Hulu and the later, a 30 percent stake. With the acquisition of AT&T's Stake, Disney and Comcast will need to discuss how they w
American Can Soup Producer, Campbell Soup, Set to Sell Bolthouse Farms for $510 Million

American Can Soup Producer, Campbell Soup, Set to Sell Bolthouse Farms for $510 Million

Business
A few days ago, Campbell Soup, in a press release, announced that it would be selling its Bolthouse Farms unit to Butterfly Equity. Butterfly Equity is an affiliate of Campbell Soup and it is going to pay $510 million to Campbell for the Bolthouse Farms business. This decision was made by Campbell Soup in a bid to pay off some of its debts and manage its remaining assets properly. According to the press release, the deal will be completed in July 2019 and it would put Campbell out of the fresh food production market for good. This isn't the first deal the company is making this year. Two months ago, Campbell soup decided to sell Garden Fresh Gourmet, salsa producer, to Fountain Health USA. After the Bolthouse deal is complete, Jeff Dunn, the current operating partner at Butterfly, wi...
Uber Releases IPO And Reveals That It May Not Make A Profit

Uber Releases IPO And Reveals That It May Not Make A Profit

Business
Uber has unveiled its IPO and things are not looking good for the ride-hailing company. Uber Technologies Inc, on Thursday, said in its IPO filing that growth is slowing for the company and that it may not record profit anytime soon. The decade-old company has 91 million users and has made positive impacts on the global transportation industry. Uber’s IPO filing shows the company's speedy growth in the last three years as well as how competition and public scandals have disrupted its plans of attracting and retaining customers. It also reveals how far Uber is from turning a profit considering that the company predicts increased operating expenses in the future. In 2018, Uber lost $3.03 billion from operations. This is the first time that Uber is revealing its latest user numbe
IBM and Oracle Drop Out of Race for $10 Billion Government Cloud Contract

IBM and Oracle Drop Out of Race for $10 Billion Government Cloud Contract

Business
IBM and Oracle have reportedly been pulled out of the U.S. Defense Department Contract, leaving Amazon and Microsoft as finalists. The Pentagon revealed, on Wednesday, that Amazon and Microsoft were the only candidates left to contest for the $10 billion cloud computing contract. Amazon, Microsoft, IBM, and Oracle had earlier bided for the contract but IBM and Oracle were later dropped because they failed to meet the minimum requirements for the project. The project, which is called the joint enterprise defense infrastructure, or JEDI, would span over a decade. It makes history as one of the biggest federal information technology contracts. The decision of the Pentagon to migrate to the Cloud attracted many big tech companies in 2017 when the announcement was made. The contract woul...