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Same-Day Delivery Service to Be Presented by eBay in New Way
In order to improve its same-day delivery service, eBay has agreed to acquire Shutl last Tuesday. The move was made to make the company competitive with Amazon, which is the world’s biggest online retailer. Shutl was founded by Tom... More of this article »
Amazon Tax Violated Federal Rules
The Illinois Supreme Court rejected a state law Friday that taxes Internet sales. The high court stated that the so-called Amazon tax violated federal rules against discriminatory taxes on online or digital transactions. The Illinois... More of this article »
Oil Prices Played $104 after US Government Was Shut Down
The price of oil dropped a day after the International Monetary Fund cut its forecast for global growth through the end of 2014. Benchmark crude for November delivery declined 3 cents to $103.46 a barrel on the New York Mercantile... More of this article »
Potbelly Gains after IPO
Potbelly Corp. has more than doubled in trading after it priced its initial public offering over the increased range. This indicated investors’ appetite for restaurant chains. The Chicago-based seller of made-to-order toasted sandwiches... More of this article »
US Department of Labor No to September Payrolls
The US Department of Labor said that the September Payrolls report is one of the casualties of the partial government shutdown. It was scheduled to be released on Friday, October 4. The department hasn’t issued an alternative date... More of this article »
Washington Post Completes Sale to Bezos
The Washington Post Co. announced Tuesday that it has completed the sale of the newspaper to the founder and chairman of Amazon.com, Jeff Bezos. It ended the 80 years of local control of the newspaper by the Graham family. The deal... More of this article »
Third Job Cut Presented by Siemens
Joe Kaeser became Siemens new chief executive officer last August after he worked as the company’s chief financial officer for seven years. He announced that the company will widen job cuts from an initial plan after it failed to... More of this article »
King.com Files for IPO
The tech sector is now looking forward for the next hot IPO candidate. King.com filed an S-1 document with the Securities and Exchange Commission worth $5 billion. The company’s filing is similar to the one that let Twitter to keep... More of this article »
Twitter IPO Leaning Toward NYSE
Twitter might list its shares on the New York Stock Exchange when it goes public. This was seen as a blow to the Nasdaq Stock Market. Getting the high-profile IPO would help the NYSE solidify its allure among new technology companies... More of this article »
GM Dumps Expensive Debt with Lower Cost Debt
General Motors announced that it would replace around $3.2 billion of preferred shares owned by a UAW trust fund with lower cost debt. It continues to whack away at the financial constraints as a result of its 2009 bailout. Since it... More of this article »
California Regulators Approve Ride-Sharing Services
Ride-sharing services got the approval from California regulators Thursday. The move gave the services hope that the move will clear their legal status in other regions. The California Public Utilities Commission made a new category... More of this article »
Jobless Rates Remain or Fall in 32 States
15 states saw their jobless rates below the US rate of 7.3 percent in August. This was according to the report released by the government. North Dakota got the lowest jobless rate in the nation with 3 percent that was attributed to... More of this article »
Allegiant Declines Due to Canceled Flights
Allegiant Travel Co. dropped the most since July after it canceled 15 percent of its flights after the grounding of its Boeing Co. MD-80s to make sure that its emergency slides meet safety standards. The airline moved 16 of the canceled... More of this article »
Fed Surprises Wall Street with No Taper
Traders were caught by surprise by the Federal Reserve when the central bank made the announcement that it would not taper its stimulus program. Right after the announcement, the 10 year benchmark Treasury increased with buyers rushing... More of this article »
Starbucks Says Guns Unwelcome in Stores
Starbucks Corp. announced Wednesday that guns will not be welcomed in its cafes. This has brought the coffee chain giant deeper into the debate regarding weapons that has been difficult for retailers and other businesses. The request... More of this article »
Consumer Prices Increase in August
Consumer prices in the United States slightly increased in August. This was the latest indicator that slow economic growth has been keeping the inflation in check. The Labor Department said that the consumer price index went up 0.1... More of this article »
Shopify with Challenge for Entrepreneurs
Shopify has announced a challenge for entrepreneurs called Build-A-Business competition. Shopify has helped business owners get their businesses online and improve their consumer experience. The company has powered more than 60,000... More of this article »
Intel to Lower Production Capacities
Intel, which is the world’s leading manufacturer of computer chips, is reported to be closing its factory in Massachusetts. It would cut up to 700 high-paying manufacturing jobs, which would be one of the biggest job cuts in the... More of this article »
Hilton Chain Expects to Raise $1.25 Billion in IPO
Blackstone Group is going to take Hilton Worldwide Holdings public in an initial public offering that is expected to earn up to $1.25 billion. This was according to a regulatory filing Thursday. Hilton owns and franchises a portfolio... More of this article »
McDonald’s August Sale Increase Due to Higher Demand in Europe
McDonald’s Corp, the world’s biggest restaurant chain, reported its sales at stores open at least 13 months gained 1.9 percent last month. This was above the estimates made by analysts. The increase was attributed to the demand... More of this article »
Payrolls Climb Less than Predicted
Payrolls in the United States increased less than the estimate in August. The gains for the previous two months were revised down. These indicated that the expansion has struggled to gain momentum. 169,000 workers were added last month,... More of this article »
Ford Competes with Tech Companies in Finding New Workers
Ford Motor announced that it will hire 3,000 more white-collar workers in 2013 in order to meet with the increasing demand for its vehicles. The company said that it improved this year’s hiring target by 36 percent from around six... More of this article »
Small Businesses Experience Optimism
Small business optimism increased in July and August, which reached the highest level since the beginning of the recession. This was according to several surveys. The Gallup reported an optimistic reading with regards to capital spending... More of this article »
Verizon Wants to Buyout Vodafone in Wireless Unit
Vodafone confirmed that it is in talks to sell to Verizon Communications its 45 percent stake in Verizon Wireless. Analysts said that the deal could be worth around $125 billion. Verizon has been trying to buy the stakes. It could... More of this article »
Joy Global Hits Lowest Level in a Month
Joy Global, which is the biggest manufacturer of underground mining equipment, dropped to its lowest price in a month after it announced that it anticipates a decline in sales for the rest of the year as demand for large shovels and... More of this article »
Consumer Confidence Improves in August
Consumer confidence improved this month as Americans became more optimistic about employment opportunities as well as the outlook for the economy. The Conference Board’s index of sentiment went up to 81.5 from the revised 81 the... More of this article »
New York Has Average Car Costs
According to a new report made by Bankrate.com, New York is around average when it comes to car costs. The Car Cost Index is based on the costs of repairs, taxes, gasoline, insurance and other fees. According to the study, New York... More of this article »
Amgen to Acquire Onyx
Amgen is said to be close to signing a deal to acquire Onyx Pharmaceuticals Inc., which is a manufacturer of drugs to battle cancer. This is according to people who know about subject. They said that the deal is worth around $10.5... More of this article »
Barnes & Noble Falls 12% due to Poor Earnings Report
Barnes & Noble shares dropped Tuesday after the bookseller released its profits report that showed its retail revenue and sales of Nook e-reader declined in the second quarter. Investors reacted to news that founder and board chairman... More of this article »
Direct Selling Firms Faces Tough Time Ahead
Industry research company IBISWorld released its most recent report on direct selling companies. It indicated that businesses are expected to pick up as the economy and consumer spending recovers but it would not be the case for direct... More of this article »
US Consumer Less Optimistic in August
US consumers were worried about the higher interest rates and slower economic growth. These were the factors why they were less optimistic in August as consumer sentiment dropped from July’s six year high. This was according to the... More of this article »
US Postal Service Revamps Priority Mail to Improve Revenue
The US Postal Service was overhauled its priority mail service to boost its revenue as well as compete with its private sector competitors FedEx and United Parcel Service. The USPS will provide customers free insurance, no-charge online... More of this article »
US Business Inventories Remain Unchanged in June
Inventories of businesses in the United States remained unchanged in June as companies excluding the auto industry cut back on restocking. This could affect the estimates for economic growth of the nation in the second quarter. The... More of this article »
US Wholesale Inventories Drop for 3rd Straight Month
Inventories at wholesalers in the United States surprisingly dropped in June for the third month in a row. This was the longest streak in almost four years and was attributed to the increase in demand. Stockpiles decreased 0.2 percent... More of this article »
Soybean and Corn Up on Friday Trading
Corn and soybean were higher Friday. This was attributed to the bargain buying of end users that helped drive the agricultural markets higher after a selloff. Wheat was also up after two sessions of drop in a row due to pressure from... More of this article »
Time Warner Reports 87% Increase in 2nd Quarter Income
Time Warner released its second quarter net income report that showed it increased 87 percent to $771 million. This was due to the higher TV ad sales and strong box office performances of Warner Bros that offset the drop in its magazine... More of this article »
Molson Coors Reports Above Expectations Profit
Molson Coors Brewing Co reported higher than estimate quarterly profit that was attributed to the company’s acquisition of Central European brewer Starbev in June 2012. After the release of the report, the company’s shares increased... More of this article »
J.C. Penney Hires Berman from Kraft to Turn Brand Around
Department store chain J.C. Penney hired Debra Berman from Kraft Foods Group Inc. as senior vice president of marketing. The move was made in the hopes that she can rally the company from its worst sales year in more than two decades.... More of this article »
Mortgage Rates Get First Increase in Three Weeks
Mortgage rates in the United States increased for the first time in three weeks as it continued an upward trend that has started to affect home sales. The average rate for a 30 year fixed mortgage went up to 4.39 percent in the week... More of this article »
US Home Prices in May Reach Highest Level since 2006
Home prices in May increased the most since 2006. This is an indicator that the recovery in residential real estate got some momentum. The S&P/Case-Shiller index of property values increased 12.2 percent from May 2012. This was... More of this article »
Apple and Samsung Domination of Smartphone Market Over
Samsung and Apple get new competition in the smartphone market as the two companies’ combined market share dropped to 43 percent in the second quarter from 49 percent the previous year. This was according to the research firm IDC. Old... More of this article »
Zynga Shares Fall after Dropping Plans for Online Gambling
Zynga, which is a social networking games company, dropped the most in a year after it announced the abandonment of its plans to venture into the online gambling business in the United States. The company is known for games such as... More of this article »
US Demand Offset Slowdown in Europe to Give GM Profit
The strong demand for GM vehicles in North America helped the company earn second quarter profit above the estimated $1.2 billion. It offset the problems the company faced in the European car market. The largest US motor manufacturer... More of this article »
HanesBrands Acquires Maidenform
HanesBrands Inc. announced that it has bought Maidenform Brands Inc. The deal is worth at $575 million. It is the union of two major companies in the delicates business. HanesBrands is known for the brands Hanes, Playtex, Champion,... More of this article »
Intel Slashes Annual Revenue Estimate as PC Sales Decline
Intel managed to reach its earnings target but it slashed its full year revenue forecast due to the drop in PC sales and the transition toward smartphones and tablets. Shares initially increased after-hours but it dropped 4 percent... More of this article »
US Homebuilder Confidence Grows More than Estimate
Homebuilder confidence in the United States increased more than the estimate in July to the highest level since January 2006 as companies became more upbeat about sales prospects. The National Association of Home Builders/Wells Fargo... More of this article »
Consumers Keep their Buying in Check in June
American consumers have kept their buying in check in June. They bought less goods last month as an indicator of a weak second quarter. Sales at retailers increased 0.4 percent in June, which was below the 0.8 percent gain that was... More of this article »
US Airways Shareholders Approve Merger with American Airlines
Shareholders of US Airways have given their approval to the pending merger with American Airlines. The step will give the company a step towards becoming the biggest carrier in the world. US Airways CEO Doug Parker made the announcement... More of this article »