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German business software maker SAP AG (SAP) reported that its fourth-quarter profit after tax on IFRS basis rose 18 percent to 1.51 billion euros from last year's 1.28 billion euros. On non-IFRS basis, profit was 1.82 billion euros, compared to 1.67 billion euros a year ago. IFRS earnings per share...

The Consumer Financial Protection Bureau or CFPB on Monday said it has ordered Subsidiaries of Citi to pay $28.8 million for giving the runaround to borrowers trying to save their homes. In a statement, CFPB said it has taken separate actions against CitiFinancial Servicing and CitiMortgage, Inc....

FedEx Corp. (FDX) said that David Bronczek is assuming a new role as President and Chief Operating Officer of FedEx Corporation, effective February 1, 2017. Bronczek will be responsible for marketing, sales, and all FedEx operating companies. "While this was announced last September, substantial progress...

BP plc. (BP.L, BP_UN.TO, BP) said that it has started up the Thunder Horse South Expansion project in the deepwater Gulf of Mexico 11 months ahead of schedule and $150 million under budget. The project is expected to boost production at the facility by an estimated 50,000 gross barrels of oil equivalent...

Minerals Technologies Inc. (MTX) said that it has elected Matthew Garth Senior Vice President, Finance and Treasury, and Chief Financial Officer. Garth will become an officer of the company and a member of the executive management committee. Garth joins Minerals Technologies from Arconic Inc. (formerly...

Amazon.com Inc. (AMZN) said that it plans to open its first fulfillment center in Colorado. The one-million square foot facility in Aurora is expected to create more than 1,000 new full-time jobs, which is in addition to the hundreds of associates currently employed at the Amazon sortation center located...

Praxair, Inc. (PX) said it has signed a long-term contract to supply hydrogen to Marathon Petroleum Corporation's refinery in Garyville, Louisiana. The company will use the hydrogen to support an ultra-low-sulfur diesel project planned for 2018. Marathon Petroleum is the third-largest transportation...

Northlane Capital Partners, LLC announced it has completed spinout from American Capital, Ltd. in connection with Ares Capital Corp.'s (ARCC) acquisition of American Capital. Northlane is an investment manager currently managing American Capital Equity III, L.P., or ACE III, a $1 billion private equity...

Avis Budget Group, Inc. (CAR), a provider of vehicle rental and car sharing services, announced that its Board of Directors has adopted a short-term stockholder rights plan that will enable the Company to continue to engage in substantial share repurchases without subjecting it to the potential risk...

Inovalon (INOV) announced that it has entered into an agreement with Boehringer Ingelheim Pharmaceuticals Inc., a research-based, global pharmaceutical company, on behalf of Boehringer Ingelheim's diabetes alliance with Eli Lilly and Company (LLY). The agreement utilizes Inovalon and Avalere's combined...

Mcdonalds-012317.jpg Fast food giant McDonald's Corp. (MCD) on Monday reported a 1 percent decline in profit for the fourth quarter from last year on lower revenues due to the impact of refranchising. However, both revenue and earnings per share beat analysts' expectations. The Oak Brook, Illinois-based hamburger chain...

Sprint (S) announced a partnership with TIDAL, a Global music and entertainment platform. As part of the partnership, Sprint will acquire 33 percent of TIDAL. Sprint's CEO, Marcelo Claure, will join TIDAL's Board. TIDAL and its artists will make exclusive content that will only be available to current...

Silgan Holdings Inc. (SLGN) announced an agreement with WestRock Company (WRK) to acquire its specialty closures and dispensing systems business for $1.025 billion in cash plus the assumption of approximately $25 million in foreign pension liability. Silgan expects the acquisition to be accretive to...

Brookfield Canada Office Properties (BOXC, BOX_UN.TO) said it acknowledges the press release issued by Brookfield Property Partners L.P. (BPY, BPY_UN.TO) earlier today announcing its proposal to acquire all of the Brookfield Canada Office Properties units that it does not own. Under its proposal,...

Kroger Co. (KR) said that its family of stores is hiring to fill an estimated 10,000 permanent positions in its supermarket divisions. The company also announced that its total active workforce grew by more than 12,000 associates in 2016. Over the last eight years, Kroger has created more than 86,000...

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