BUSINESS NEWS MAY 4TH, 2016
U.S. stocks fell again Wednesday, as investors grappled with a weaker-than-expected reading on job creation in the private sector last month but good news on the services sector of the economy, extending yesterday's sell-off that pushed the Dow to a three-week low.The Dow Jones industrial average ended down 100 points or 0.6%. The broader Standard & Poor's 500 stock index lost 0.6% . And the technology-dominated Nasdaq composite was down 0.8%, logging its ninth down day in the past 10 trading sessions. The Nasdaq Biotech Index .NBI dropped 2.9 percent, its seventh session of losses out of the last eight.
A MODULAR KITCHEN FROM THE TATA STABLE IN FUTURE?
You have 'Tata' in your salt, tea and pulses. Chances are that you may even end up cooking the ingredients in a 'Tata' kitchen.The Tata Group has developed a distinct modular kitchen with features like ultrasonic cleaner and vegetable cooler at an extremely competitive price as the 148-year-old conglomerate places innovation at the heart of its strategy to explore new areas. Though Group company Titan has designed the kitchen studio, the commercialization of the product, if ever, will be handled by another Tata entity as the former is mainly into lifestyle-related accessories.
YET AGAIN, TESLA BEARS MISS THE POINT
Tesla Motors Inc. reported a larger first-quarter loss compared with a year ago Wednesday but the report nearly was overshadowed by news of the planned departure of two of the company's key manufacturing executives.The electric car maker also said it has ramped up production of its new Model X sport utility vehicle, whose prior delays contributed to the financial losses.Tesla’s first-quarter loss using standard generally accepted accounting practices was $282.3 million, compared with a loss of $154.2 million a year earlier.Sales rose 22% to $1.15 billion from $940 million.
J&J TO PAY $55M IN TALC-POWDER CANCER LAWSUIT
A jury ordered Johnson & Johnson (JNJ) to pay $55 million to a woman who claims talc in the company’s baby powder caused her ovarian cancer. On Monday, a jury in St. Louis, awarded Gloria Ristesund $5 million in damages and $50 million in punitive damages, Reuters reported. The verdict comes months after a jury ordered the company to pay $72 million to the family of an Alabama woman who died from ovarian cancer allegedly caused by using the company’s Baby Powder and other products which contained talc.