Macy’s (M) department stores is recalling 121,000 Martha Stewart cookware sets because a metal disk which covers the frying pan’s rivets can pop off and hit consumers. The recall involves the 10-piece stainless steel cookware sets, available between January 2011 and September 2015. The Consumer Product Safety Commission warns consumers not to use the 8- and 10- inch frying pans from the cookware set after three injuries were reported as a result of the flying disks. Consumers can return the pans to Macy for a refund.
DuPont (DD) announced it plans to cut 1,700 jobs in its home state of Delaware in early 2016. The move is part of $700 million in cost savings the company is pursuing ahead of its planned merger with Dow Chemical (DOW). The layoffs represent a quarter of DuPont’s Delaware based employees and comes as DuPont consolidates some of its scientific research operations and moves corporate functions to other locations which are closer to its customers. To soften the blow the company also announced that Wilmington will be the headquarters to one of the three planned spinoffs following the merger with Dow.
Asia: Asian markets closed mixed on Wednesday as a decline in oil prices hit investor sentiment.
Europe: European markets closed higher on Tuesday, boosted by a bounce back in oil prices and a higher close for Asian markets.
U.S: U.S. markets closed higher on Tuesday, led by the tech sector and some stabilization in the oil market. DJIA: +192.71 17,720.98 S&P: +21.86 2,078.36 NASDAQ: +66.95 5,107.94
Word of The Day:
Joint Venture (JV)
An agreement between two or more parties, to pool their resources for the purpose of accomplishing a specific business activity.
Dinner or Drink:
Happy New Year
¼ oz. brandy
¾ oz. ruby port
¾ oz. orange juice
Shake brandy, port, and orange juice well over ice cubes in a shaker. Strain into a champagne flute, filled with champagne, and serve.