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Brittany Umar

Staff Reporter

Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.

Brittany Umar
By This Author:
Page 2 of 52
Article

Tyson Issues Major Recall Over Plastic Found in Chicken Nuggets

By Brittany Umar

Tyson Foods is recalling more than 75,000 pounds of frozen chicken nuggets after customers reported finding pieces of plastic in the food. The recall pertains to five-pound bags of Tyson Fully Cooked White Meat Chicken Nuggets and 20-pound bulk packs of Spare Time Chicken Breast Pattie Fritters with Rib Meat that were sold at Sam's Club stores. The U.S. Department of Agriculture reported that consumer complaints included one of a minor mouth injury in someone who ate the nuggets.

10:14AM 04/07/14

Article

Barnes & Noble Shares Get Burned After Liberty Media Sells Out

By Brittany Umar

Shares of Barnes & Noble are falling in Friday trading, one day after Liberty Media, one of the retailer's biggest investors, announced it is selling nearly all of its stake in the struggling bookseller. Liberty Media says it is selling 90% of its approximately 17% stake in Barnes & Noble to institutional buyers and will lose its two board seats. Barnes & Noble has been facing challenges, especially in its Nook segment, where the company saw sales fall 50% in its fiscal third quarter.

01:52PM 04/04/14

Article

CarMax Reports Stalling Earnings Due to Accounting Correction

By Brittany Umar

Used car retailer CarMax reports a nearly 9% increase in fiscal fourth-quarter revenue on Friday but results still fall short of expectations. CarMax reported profit of $99.2 million, or 44 cents a share, on revenue of $3.08 billion for the quarter -- coming in below analysts' forecasts of earnings of 53 cents a share on revenue of $3.12 billion, according to Thomson Reuters. The company attributed the weaker-than-expected results to an accounting correction that cut earnings by 8 cents a share.

01:01PM 04/04/14

Article

Supreme Court Rules Aggregate Limits on Campaign Donations Unconstitutional

By Brittany Umar

The Supreme Court rules that limits on the total amount of money donors are allowed to give to candidates, committees and political parties violated the First Amendment for free speech. The 5-4 decision strikes down the aggregate limit of $123,200 per two-year election cycle. Previously, donors were limited to $48,600 to all candidates combined and $74,600 to all party and political action committees. The ruling now allows individuals to contribute up to $3.6 million per two-year cycle.

01:38PM 04/03/14

Article

Citigroup Faces Federal Probe After Discovering $400 Million Fraud in Mexican Unit

By Brittany Umar

The U.S. government opens an investigation into Citigroup's Mexican unit over $400 million in fraudulent loans, according to a report by the New York Times. Citigroup disclosed in February it discovered that at least one employee at its Mexican unit, Banamex, falsified documents in order to give a Mexican oil services company a loan it cannot repay. Now, U.S. federal authorities are investigating Citigroup's internal controls and whether the bank ignored warning signs of the fraud.

12:14PM 04/03/14

Article

Trade Gap Unexpectedly Widens, Exports at 5-Month Low

By Brittany Umar

The U.S. trade deficit unexpectedly widened in February amid a slump in exports, according to the latest report by the Commerce Department. The trade gap increased 7.7% to $42.3 billion, the largest since September 2013. Economists had predicted a fall to $38.5 billion, according to Thomson Reuters. The rise in the deficit is being attributed to weak exports, which slipped 1.1% to $190.4 billion in February. As U.S. exports fell, U.S. imports rose 0.4% to about $232.7 billion.

11:33AM 04/03/14

Article

Why General Motors is Trusting Ken Feinberg to Settle Defect Damages

By Brittany Umar

In the midst of dealing with an ignition-switch defect that's been linked to at least 13 deaths -- and a recall of 2.6 million vehicles, General Motors CEO Mary Barra told lawmakers that the company is considering paying damages to victims and their families. Now, GM is turning to attorney Ken Feinberg for help with just that. Feinberg is known for handling millions of dollars in compensation for victims of large-scale cases like September 11th, the BP oil spill and Boston Marathon bombing.

03:15PM 04/02/14

Article

Monsanto Beats on Profit and Revenue on Increased Soybean Seed Sales

By Brittany Umar

Monsanto reports second-quarter earnings that beat expectations, lifted by increased sales in its global corn and soybean businesses. The agriculture products company beat on both profit and revenue. Monsanto reported earnings of almost $1.7 billion, or $3.15 a share, topping analysts' estimates by 8 cents, according to Thomson Reuters. The company saw total seeds and genomics sales rise nearly 7%, with sales in its corn seed segment rising 4% and sales in its soybean seed segment rising 21%.

10:44AM 04/02/14

Article

IRS Rules Bitcoin Can Be Treated as Capital Assets

By Brittany Umar

The Internal Revenue Service has determined that bitcoin will be treated as property, not currency. In its first big ruling on the virtual currency on Tuesday, the IRS said that bitcoin does not have 'legal tender status.' As a result of bitcoin being regarded as property, it can be treated as capital assets, governed by the same rules as stocks and bonds. In addition, the IRS said that people who receive wages in bitcoins would also be subject to federal income and payroll taxes.

02:55PM 03/28/14

Article

Wal-Mart Sues Visa for $5 Billion for Fixing and Inflating Swipe Fees

By Brittany Umar

Wal-Mart is suing Visa for $5 billion for allegedly conspiring with banks to illegally fix and inflate credit card processing fees. Wal-Mart says Visa's swipe fees not only violate antitrust regulations, but have cost U.S. retailers and shoppers more than $350 billion. Visa and MasterCard reached a settlement with retailers in July 2012 in which they agreed to pay up to more than $7 billion and lower their fees. However, Wal-Mart, as well as Target and Amazon, opted out of the settlement.

10:22AM 03/28/14

Page 2 of 52

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