Turner takes programming away from Dish Network, while Staples reports a possible payment card hack. Here is the big news of the day for Oct. 21, 2014.
Pistorius Sentenced to Five Years
Oscar Pistorius, the Olympic and Paralympic runner who killed his girlfriend in February of 2013, Tuesday was sentenced to five years in prison for culpable homicide. Reeva Steenkamp was killed at Pistorius’ home by a gunshot wound from Pistorius, who claimed he thought there was an intruder in his home. Judge Thokozile Masipa cleared Pistorius of murder charges, saying the prosecution failed to prove Pistorius intended to kill anyone when he fired four shots through the door of a bathroom. The prosecution had asked for a minimum 10 year sentence.
De La Renta Dies
Famed fashion designer Oscar de la Renta died Monday at the age of 82 of complications from cancer. De la Renta has been famous as a designer for decades for designing dresses for American first ladies and Hollywood stars. De la Renta made his name in the 1960s when he was responsible for many of the outfits worn by first lady Jacqueline Kennedy, and he established his own company in New York in 1965. De la Renta, who was born to a successful family in the Dominican Republic, was known for his gowns that often included full skirts and cinched waists, providing flattering looks for the famous people wearing his designs. De la Renta made the wedding dress for Amal Clooney who married actor and director George Clooney in Venice last month.
Was Staples Hacked?
Joining seemingly every other retailer in the country, Staples Monday reported the possible hacking of its payment card data and contacted law enforcement to investigate. Staples made the announcement after security reporter Brian Klebs, who operates the blog Krebsonsecurity.com, said several banks had identified problems with transactions at several Staples stores in the northeastern United States. The last noteworthy hacking came against Sears, which reported the theft of some customer payment cards at its Kmart stores.
Coca-Cola Falls Short
Third quarter revenue reports from Coca-Cola fell short of analysts’ expectations Tuesday, and the company announced at the same time that currency issues globally could affect future sales. The soft drink company said it is increasing its efforts to cut costs worldwide as carbonated beverage volumes fall in North America. Net income for the third quarter ended Sept. 26 was $2.1 billion, or 48 cents a share, down from $2.4 billion, or 54 cents a share, one year ago. Coke’s revenue dropped to $11.98 billion from $12.03 billion in 2013. Coca-Cola said it would refranchise the majority of its company-owned North American bottling territories by the end of 2017 as part of its cost-cutting efforts.
A 30 Percent Drop for McDonald’s
Declining traffic is blamed for McDonald’s third quarter report of a drop in net income of 30 percent. Net income for the quarter fell to $1.07 billion, or $1.09 per share, from $1.52 billion, or $1.52 a share, one year ago. Revenue fell to $5.99 billion from $7.32 billion in 2013. Analysts had expected earnings of $1.37 per share on $7.18 billion in revenue. "Our business and financial performance (is) pressured by a variety of factors—from a higher effective tax rate, to unusual events in the operating environments in APMEA and Europe, to under-performance in the U.S., our largest geographic segment," said McDonald's President and Chief Executive Officer Don Thompson in the release.
No Cartoon Network For You
Dish’s programming lineup will be affected now that Turner Networks is pulling channels such as Cartoon Network and CNN in a disagreement over their distribution deal. The deadline has passed for a renewal of the deal between the two communications giants, and Turner refused to extend the current deal without a new pact. Other channels being pulled from Dish Network include CNN en Espanol and Turner Classic Movies. Dish announced it still wants to reach an agreement with Turner and hopes the channels will be restored quickly.