The Kraft Heinz Co. was the author of some legendary cost cuts last year. The American food company ordered the reimbursement of preferred stock which triggered benefits and discounts. As a consequence, the net income received a 50% boost which was redirected to shareholders. Nonetheless, the company is still registering weak sales for the second quarter as well.

The Discrepancy Between Net Income and Net Sales Points at Positive Effects of the Legendary Cost Cuts

Heinz accepted a merger with Kraft Foods Group two years ago which resulted in the world’s fifth largest food and beverage organization. The dual headquarters are located in Chicago and Pittsburgh. On Thursday, officials released the results of the second financial quarter after market closing.

The papers show a net income within three months that reached a spectacular amount of $1.16 billion which means 94 cents per share. By comparison, a year ago the numbers displayed $770 million net income which translated into 63 cents per share.

On the other hand, net sales decreased by 1.7% to $6.7 billion. However, this marked a clear improvement since the first quarter was pointing at a slip of 3.1%. The gap between income boost and sales regression shows that the company’s legendary cost cuts paid off in the end.

The processed food industry took a deep hit when consumers embraced the fitness trend. They are encouraged to consume natural foods and stay away from traditional, heavy dishes. This healthcare wave forced the company to act on it. Some of them decided to find another niche in their market while others turned to new leadership for guidance.

CEO Bernadero Hees Is Looking at a Hiking Performance for the Rest of the Year

Kraft Heinz CEO, Bernadero Hees, looked content with the results. He stated that from this point on the company would continue to grow for the rest of the year as well. Hees admitted that the plan from the beginning was to apply cost savings and redirect the funds towards investments in brands and people.

“As expected, our second quarter results were sequentially better than our first quarter.”

At the same time, Kraft Heinz claimed that it is going to increase shareholders’ dividends by 4% to $2.5 annually. In the past, the company used to cover $2.4 for them.

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The media was buzzing with the dreadful consequences some Wisconsin workers exposed themselves to the moment they received chip implants. Most of them concerned the idea of losing their freedom at work and in their spare time. However, the true story holds some not so apocalyptic details. For instance, the company threw a so-called “chip party” where the microchipped employees volunteered for an experiment.

Microchipped Employees Are Just the First Persons to Test the Technology of t the Future

On Tuesday, dozens of workers at a Wisconsin tech company agreed to participate in a test. In today’s world, almost everyone is dependent on their plastic cards or cash. Losing them would trigger lots of struggles with the police and bank. On top of that, the paperwork, documents, and IDs don’t seem to be part of this world anymore.

Therefore, the Three Square Market in River Falls organized an event only for insiders. They hired a tattoo artist to implant a chip of the size of a rice grain in the arm with a syringe. However, the exercise was not mandatory. Only those who volunteered participated in this project.

At the end of the day, 41 out of 85 Three Square Market employees were walking with new implants. The company is based on manufacturing self-checkout kiosks so they are already used to innovative technology. Company president Patrick McMullan explained this inside event as a way to adapt to future solutions.

“And when we came across it and saw it being used in other societies, we said, ‘Why not us?’.”

The Chip Allows People to Save Time When They Go through Security Doors or Purchase Products

Each chip has a unique serial number that functions as a key to certain features within the headquarters. The microchipped employees can now enjoy streamlined activities, such as purchasing products from the company store, sign onto their work computers or get passed the security doors. They can now do all these and much more with just a swing of their hand. On top of that, there are no GPS tracks in the chip to endanger the freedom of the employee.

McMullan stated that this is the perfect way to test the product before commercializing it. There are already other companies that inquired about the microchip. Three Square Market hopes to revolutionize the world and get rid of the feeble physical documents. For instance, in the future people will be able to board a plane in just a matter of minutes.

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Each generation is defined by the historical background they were born in and the historical and social events they experienced together. Therefore, the members of one such group are connected by a similar lifestyle and set of values. Millennials received numerous critics in their name, yet recent reports showed that they do get involved in politics. Therefore, the latest adult generation together with generation X’ers became the biggest voting block during the 2016 presidential election.

Millennials to Become the Biggest Voting Block Only in 2020 Onwards

Pew Research Center has just published a comprehensive paper about the influence of generation during the recent election for the presidential seat. The institute found that younger generations were responsible for 69.6 million votes. By comparison, older citizens cast a slightly lower number of 67.9 million votes. On top of that, millennials still need time to reach voting-age to enter the electorate community altogether.

Taking a closer look at millennials, Pew discovered that their voting power skyrocketed in a matter of 8 years. While there were 18.4 million of them who participated in 2008 elections, in 2016, there were 34 million who chose their future president. Generation X’ers cast 35.7 million votes in 2016. The study assessed that millennials are going to outnumber their older generations at next presidential elections in 2020.

Millennials Shifted from Religious Beliefs and Are More in Tune with Democratic Values

The moment this event will happen, the political theater has great chances of change. With the younger generation holding the decisive vote, they will desire to appoint a leader who is in alignment with their own set of values. The Pew report described this generation as independent and closer to Democratic virtues than older Americans.

For instance, last year 55% of millennials claimed that they are either Democrats or Democrat-leading independents. Only 33% of this generation identified themselves with the House Republicans or as right-leaning independents. On top of that, the majority are no longer holding religious beliefs in great esteem. This feature could undermine any electoral campaign which is based on faith. The Baby Boomer generation started to lose its influence as the biggest voting block in 2004 when it peaked.

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Viral content is the new goal all companies want to achieve through their marketing work. McDonald’s has actually succeeded in this endeavor recently. However, the controversial photo was not sent from the headquarters, and its story was not something the advertising team would have ever agreed with. The author of the image of a disgusting ice cream machine was actually an employee of the company.

McDonald’s Unit in China Was the First to Respond to the Viral Content

One of the most popular chains of fast food at a global level received a heavy hit from their own staff members recently. Social media was served with a series of viral photos that show a pretty ugly sight. The location was a U.S. outlet of McDonald’s Corp. The images that a McDonald’s employee took baffled executives and urged them to take swift action.

On Wednesday, the company’s unit in China, which is the most fruitful market for McDonald’s at this hour, released a statement on their official website. The board reassured customers that they are enjoying a clean and safe environment whenever they choose their services and products.

The official text reported that all Chinese restaurants under the brand of McDonald’s receive disinfected treatment for their ice cream machine on a daily basis. The culprit of this turmoil for the company is an 18-year-old boy named Nick. He was working at a McDonald’s outlet before he posted the controversial pictures.

The Teenage Employee Posted the Photos of the Disgusting Ice Cream Machine Well Aware of the Consequences

What happened was that Nick was just learning from his manager how to refill the ice cream machine. When he dropped some chunks of the dessert on the floor, the teenager looked in the tray inside the equipment. He discovered that the container was actually full of mold and old ice cream. On July 14, he twitted the infamous content which received 13,000 retweets soon afterward.

On the other hand, Nick was aware of the consequences of his actions as the work contract informed him. However, he chose to go ahead with his decision to let people know what they are eating. McDonald’s U.S. response was that the one location doesn’t reflect the safety conditions from all their other restaurants as well. On top of that, the tray showed in the pictures enters in contact at no point with the dessert their customers enjoy.

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The main regulator in Wall Street announced that the agency intends to set a legal ground for the digital coin. To its views, the initial coin offerings or ICOs should respond to the same guidelines as traditional securities sales do. ICOs are a novel strategy through which tech companies can organize crowdfunding efforts.

The Securities and Exchange Commission Views the Digital Coin as Nothing but Securities

ICOs have become the new Holy Grail for successful financiers. Many deal-makers decided to leave their stiff yet profitable careers in exchange for the volatile playground of ICOs. By trading digital tokens, they are in for quick and large funds. However, this new occupation is swimming in murky, uncertain waters that are currently outside the law. There’s no regulatory oversight to take in its control the way professionals create and sell the digital coin.

Therefore, the Securities and Exchange Commission showed intentions of regulating these activities. The agency started from the consideration that such digital tokens are nothing but securities. As a consequence, these assets need to be registered. Only a valid exemption could revoke such a responsibility.

“The innovative technology behind these virtual transactions does not exempt securities offerings and trading platforms from the regulatory framework designed to protect investors.”

Critics Consider ICOs as just an Unsteady Financial Practice Based on Imagination

Critics against such cryptocurrencies labeled these financial activities as just the products of imagination. ICOs are a mixture between crowdfunding and initial public offerings which transcended into the online world.

However, instead of receiving shares in the company they invest, a startup’s ICO issues virtual tokens which are small ramifications of cryptocurrencies. The more successful the startup gets, the more valuable such tokens become.

So far this year, there were 89 coin sales that raised around $1.1 billion for tech companies. However, all this trading happened without any insurance for investor protection as SEC fears. By the end of the year, there are also announced additional 110 ICOs.

SEC is currently investigating a virtual organization named The DAO created last year. The company behind this activity is a blockchain firm called Slock.it. The federal agency intends to use the findings in this investigation as a cautionary case for the digital coin market.

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The majority of youngsters can’t start training for prestigious careers without student loans. However, the fees universities have been asking for in the past years attained astronomical figures. Therefore, there are many people who are struggling for years with their education taxes. However, a batch of students might be exempt from their loan debt completely. The motive is not a sign of benevolence coming from institutions yet human error.

The National Collegiate Can’t Prove in Court Its Ownership over Loan Debt Due to Missing Documents

The National Collegiate Student Loan Trusts holds in its control around 800,000 private loans which make it one of the largest such organizations in the United States. However, the job of such a company includes opening numerous lawsuits against borrowers who didn’t comply with the conditions of their loans. This year only, the institute filed at least 800 suits as it intends to receive repayments as soon as possible.

Usually, the winning side of such type of cases is the National Collegiate. That’s because many defendants prefer to settle or don’t even show up in court. However, as of recently, the balance is changing in favor of borrowers.

Many documents that are crucial for such cases are missing. The lack of such official papers makes it almost impossible for the organization to prove that it is the owner of the defaulted loans.

A monthly Audit Discovered that None of the 400 Portfolios Contained All Papers

Most of the missing papers concern cases that are at least ten-year-old. During this time, many folders reached different locations and private companies. There were several banks that issued them. Afterward, a financing firm took over many bundles of student loans.

In the end, the documents went through a securitization process that implies being sold to third-parties. During all this time, the federal government issued no guarantee for them.

One of National Collegiate’s financiers, Vantage Capital Group, ordered an audit on a monthly basis to go through borrowers’ bills. However, the findings revealed that not one loan debt out of a total of 400 contained all the necessary documents to prove the ownership. As a consequence, Vantage can be liable for fraud if it continues to demand repayments without the necessary paperwork.

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The attorney general in Minnesota filed a lawsuit this week regarding the American telecommunications firm, CenturyLink. This initiative originates from thousands of customers’ observations. Many of them were baffled at the discrepancies between their bills. Therefore, the case will find out if CenturyLink was truly overcharging clients.

Minnesota’s Attorney General Went after CenturyLink because of Overcharging Clients

Attorney General Lori Swanson stated that CenturyLink has been changing its price quotes for a long time with no apparent reasons. The company was frequently refusing the numbers that sales agents issued. Official documents show numerous examples of such cases. For instance, a Columbia Heights client had to pay $29.95 on a monthly basis even though the quoted price was only of $14.95. Other such prejudices are showing even higher unjustified expenses.

The company stated that it was willing to cooperate with Swanson’s office for such matters. On the other hand, its spokespersons claimed that the organization didn’t agree with the Attorney General making this dispute public through a press conference.

“We take these allegations seriously and will review and respond in due course.”

Nonetheless, Swanson’s statement is different from that from CenturyLink. She told media that the company was reluctant to this collaboration. The telecommunications provider refused to hand over the promotions that they send to Minnesota customers and categorized such a demand as an unnecessary burden.

This class action lawsuit appeared the moment when the Monroe-based company announced a $34 billion merger with Level 3 Communications Inc. This move would unlock enough resources to elevate CenturyLink at the same level with companies such as AT&T.

The lawsuit was filed in Anoka County District Court and seeks several methods of compensation. First of all, the Attorney General demands that these mischievous practices of overcharging customers for no reason stop for good. Secondly, she considered that the company should cover restitutions to all it has wronged over the years plus punitive funds. The damages this company supposedly generated can reach even $12 billion.

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After an extensive human resources hunt, Twitter has finally found the proper fit for a vacant executive post, that of a Chief Financial Officer. Therefore, the position will go to a former Goldman Sachs banker, Ned Segal. He has a 17-year-old expertise in finances as chief financial officer at the prestigious American banking institution. This is the second time the social media network resorted to the services of a professional in the investment bank to get it out of an economic slump.

Former Goldman Sachs Banker, Ned Segal, Will Help Twitter Regain Profitability by the End of 2017

On Tuesday, Twitter announced that Ned Segal, 43, was chosen as the future CFO as soon as next month. This is good news for Anthony Noto who ascended as the chief operating officer from his former position as the head of finances in November 2016. However, Noto had to juggle with both sets of responsibilities due to a lack of a successor. Segal will have to report to Jack Dorsey, the current Chief Executive Officer.

Dorsey attempted to sell the company last year. However, the plan failed only to leave another strategy in place. Therefore, the CEO intends to show the world that Twitter can thrive as an independent organization. As a consequence, he needs to reach a point of profitability by the end of 2017.

Twitter Increased Its Average Monthly Users to 328 Million

Twitter has been having issues ever since it posted the first disappointing results of a financial quarter since its IPO in 2013. However, recent reports show that the company has regained some ground. The platform earned 6% more of its average monthly users to 328 million. On top of that, a co-founder of the company, Biz Stone, claimed that he is going to return after six years and reinforce Twitter business culture.

Segal quit Goldman Sachs four years ago to join the team of RPX Corp only to turn to Intuit in 2015. He supervised the financial and strategic planning here for various financial segments. Twitter will offer him a compensation package of $22.5 million together with a $500,000 salary and $300,000 bonus upon signing his contract. The former Goldman Sachs banker will also be entitled to 1.7 million shares which are the equivalent of $21.7 million.

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A report circulated the media and stated that White House advisor Steve Bannon had proposed a different strategy to lower taxes for middle-income citizens. The measure in question concerned tax increases for members of high-tier social stratification. However, Treasury Secretary Steven Mnuchin has recently claimed that he was never presented with this option.

Mnuchin Claimed That He Never Heard of Tax Increases for Wealthier Americans

Trump administration is currently working on a new tax plan. They hope the upcoming changes would stand for a stronger national economy than before. With the deadline of the month of September approaching, there are numerous theories regarding this plan. One of the most recent such scenarios had an official report at its basis and proposed a tax hike for wealthier citizens. So far, few details accompany the official description coming from the administration.

The key goals of the next tax plan are a reduction of income taxes from 39.6% to 35% and a lower average for taxes aimed at middle class. The primary strategy is to reduce the present seven tax brackets to only three, namely 10%, 25%, and 34%. If Bannon’s idea comes into effect, it will help the system elevate through 40% tax increases for those who earn at least $420,000 a year.

However, Mnuchin denied such a report that revealed Steve Bannon supports changes for high-tier social stratum. He made it clear that such a proposal is not up to negotiations.

“It’s another example of a false leak that’s been reported.”

Republicans Have Many Challenges Ahead before They Can Finish a Comprehensive Tax Plan

Numerous analysts expect the deadline to be postponed until early 2018. That’s because the Congress is trapped in many internal controversies. For instance, members have to finish an ongoing project regarding the replacement of the Affordable Care Act before even considering the revenue to offset reductions. Republicans are still debating what exactly to include in this bill let alone reaching a final draft.

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Last week, a Ukrainian software company pulled off an incredible global operation, yet of mischievous intentions. Their NotPetya virus infiltrated thousands of computers in a massive cyber attack. The organization resurfaced on Wednesday to warn about a new threat. All infected systems might still be vulnerable to a second hacking attempt.

Hackers Attacked Intellect Service Headquarters to Create a Back Door for NotPetya Virus

Some experts nicknamed the virus “NotPetya” due to its resemblance to the original Petya. However, there are enough differences to categorize it as a new type of cyber ransomware. The code uses EternalBlue at its basis, which is a leaked NSA hack. The same one was used by WannaCry to scan the entire internet. However, the latest operation used another strain to infiltrate a local network of computers only.

The attack was toxic enough to take down entire businesses temporarily. The Ukrainian Presidential Administration doesn’t have an exact estimation of the caused damaged. At the same time, agents are currently learning what hackers’ next step would be with their stolen data.

Ukrainian police made public a footage that shows masked persons infiltrating by force in the headquarters of Intellect Service. The incident happened on Tuesday. The assaulted software developer had its M.E.Doc accounting software turned into a back door for hackers.

Any Computer With the Fingerprint on It Might Be the Target of a Second Attack

Around 80% of enterprises in Ukraine alone are using M.E.Doc. Therefore, about 1 million computers became vulnerable in an instant. Interior Minister Arsen Avakov claimed that police managed to avoid a second attack that used the same back door to enter systems.

Chief Executive Olesya Bilousova stated that this vulnerable point is still open. Therefore, a second attack is plausible in these moments. Any computer that makes part of an infected network might become a target.

Those systems that missed the last week’s cyber threat might still harbor NotPetya virus. This threat can be activated at any moment and take hold of important documents. Bilousova claimed that there were signs of this virus on computers that had nothing to do with the M.E.Doc product.

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Samsung Electronics decided a budget of $18 billion. The purpose of this portfolio will be to consolidate its position as an authority in the memory chip market. The company is going to unlock new additions in this area for smoother expansion in the global industry.

Samsung Will Modernize Its South Korean Plants by 2021

Samsung is already the best producer of memory chips and smartphones in the world. Yet the company knows too well that being on top doesn’t assure you longevity, but it has to earn it. As a consequence, the company is going to redirect 20.4tn won or around $17.7 billion to streamline its chip plants in South Korea. The deadline for this grand project is the year of 2021.

Samsung’s factory in Pyeongtaek located 44 miles south of Seoul has just started being operational. The company invested around $13 billion and two years in creating the biggest plant in the world from scratch. The chip plant NAND in Xian, China is also going to be refurbished so as to better accommodate the high demand for chip tech in storage products.

Over the past years, Samsung’s production has been undermined by a series of low-tier rivals in China. These small competitors are offering challenging prices that are hard to assimilate when it comes to a giant factory. At the other end, Apple menaces the high-tier sector of the company with its unbeatable iPhone.

Samsung’s Presence in the Memory Chip Market Assured a Prosperous Quarter Despite Smartphone Issues

On top of an extremely aggressive smartphone market, the company suffered a serious setback last year. This was when a major recall of Galaxy Note 7 was organized as their batteries started to explode, injuring their owners. Nonetheless, the firm managed to pull off a spectacular financial year mainly thanks to its dominant presence in the memory chip market.

Samsung reported the most fruitful quarterly net profit for the past three years in April. Its production covered 40% of global demand for memory chips. As a consequence, the company intends to secure even more sales in this sector through its new $18 billion investment in its plants.

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Joe Lhota is no stranger to the numerous challenges the Metropolitan Transportation Authority has to deal with. He was at the top of the organization when the Hurricane Sandy wreaked havoc on the system. However, his leadership proved to be an iron fist in authorities’ mitigation with the flood. On the other hand, the present transit system crisis might be an even bigger challenge this time for the returned executive.

Joe Lhota Accepted to Return to MTA to Solve the Transit System Crisis

On Friday, the former Chairman Joe Lhota took his old position back within MTA. The current situation constitutes probably the worst shape this transit system has ever experienced. The equipment is old, outdated, and dysfunctional while commuters have to endure many delays on a daily basis due to ongoing restoration works.

However, Lhota is sure that he can handle this crisis. During a recent interview, he admitted that he enjoys challenges. Moreover, the current state of the transit system might present him with the greatest stimulation of his life.

Lhota accepted the desperate proposal from the governor without blinking an eye. On top of that, he agreed to a salary of $1 as the Chairman and CEO of MTA. However, he will keep his primary job as vice president of NYU Langone Medical Center.

Lhota Believes that Visualizing the Result Renders the Best Solutions to Any Problem

He is going to share job responsibilities with an executive director. This official will focus solely on keeping the organization up and running while Lhota will advise the board and negotiate with local politicians.

“Ultimately, I’ll be held accountable, regardless of who this person is.”

While he needs to be briefed more in depth on the transit system crisis, Lhota is already heaving a general plan in his mind. His secret for managing a challenge is to visualize the end in the beginning. Afterward, he is just figuring out realistic measures and steps to accomplish that goal.

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