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Fed’s Stimulus Policy Helps Offset Tighter Fiscal Policy
The Federal Reserve’s quantitative easing has proven to be effective at offsetting the blow to the economy from tighter fiscal policy. This is according to economists who have increased their growth forecasts. Economists feared that... More of this article »
Bausch & Lomb Prepares IPO
Bausch & Lomb, an eye-care company majority-owned by Warburg Pincus, filed documents in preparation for its initial public offering. The company state in its registration filing that Warburg Pincus would still be a majority shareholder... More of this article »
Coca-Cola to Cut 750 Jobs after Decreasing Distribution Regions
Coca-Cola, the world’s biggest soft drink maker, is going to fire 750 workers in its division in the United States after a decision made in February to decrease its distribution regions from the current seven to three. The cuts will... More of this article »
Starbucks Customers Can Earn Loyalty Points outside Cafes
Starbucks is offering free stuff even if you don’t go to a Starbucks store. The world’s largest coffee chain is now extending its loyalty card program to purchases made in groceries. The move comes in time when the loyalty card... More of this article »
S&P 500 Drops for Third Straight Day
The Standard & Poor’s 500 index dropped for the third day in a row Tuesday but managed to pare losses late in the day after Cyprus’ parliament rejected a proposed tax on bank deposits, which was one of the conditions of a European... More of this article »
Florida Jobless Rate Drops below US Average
Florida’s unemployment rate in January dropped below the national average for the first time in five years. The January employment report was released by the Florida Department of Economic Opportunity Monday. It stated that the unemployment... More of this article »
Consumers Energy Fires Workers after Review of Gas Explosion in Royal Oak
Consumers Energy fired several utility workers after a safety review connected to the gas explosion that killed a man in Royal Oak. Dan Malczynski died after a gas leak resulted to an explosion and large fire at his home on Cooper... More of this article »
US Wants Stricter Supervision of Student Loan Companies
The Consumer Financial Protection Bureau wants stricter supervision of companies that collect student loan payments. The bureau proposed the supervision of the activities of nonbank student loan firms. It said that the inquiry is needed... More of this article »
BP Files Appeal against Fake Oil Spill Claims
BP filed an appeal against the fictitious oil spill compensation claims Friday. The company asked a judge to stop the compensation payouts to those made on the basis of business economic loss. BP gave examples of businesses in industries... More of this article »
Jobless Claims Drop for Third Week in a Row
The number of Americans who filed for new claims for jobless benefits fell for a third week in a row last week. This was the latest sign that the labor market was improving. The cost of gasoline went up and resulted to the increase... More of this article »
Icahn Brings Back Activism in Dell Campaign
Shareholder activism is the bailiwick of several exclusive hedge funds and other institutions that are invested in specific positions that includes Bill Ackman, Carl Icahn, Nelson Peltz, and David Einhorn. There is a resurgence of... More of this article »
US Companies Optimistic about ASEAN Region
US firms have taken interest in the ASEAN region as an investment destination. Matt Bradley, president of the American Chamber of Commerce in Thailand, said that the ASEAN Economic Community has brightened the prospects of investing... More of this article »
Identity Thieves Work Hard as Income Tax Returns Filing Deadline Nears
April 15 is the deadline of the filing for 2012 federal income tax returns and it is not just taxpayers and preparers who are trying to beat it. Also working hard are the identity thieves who file fake returns using their victims’... More of this article »
KKR Agrees to Buy Gardner Denver for $3.7 Billion
KKR & Co., a private equity company run by Henry Kravis and George Roberts, agreed to purchase industrial equipment manufacturer Gardner Denver for around $3.7 billion after it increased its offer. KKR will pay $76 per share for... More of this article »
US Companies Feel the Pressure in China
Sales and profitability are difficult to come by for US companies in China as they face increasing competition from foreign and domestic firms. This is according to a survey made by the American Chamber of Commerce in Shanghai. The... More of this article »
US Unemployment Benefit Applications Drop Last Week
The number of Americans who applied for jobless benefits dropped 22,000 last week to a seasonally adjusted 344,000. It is an indicator that the job market improved. The four week average of unemployment benefits declined 6,750 to 355,000... More of this article »
Zynga to Slash Workforce by 1%
Zynga announced it is slashing around 1 percent of its workforce as the social gaming company closed its Baltimore office and merges others to cut expenses. Several dozen workers will be affected by the move. Zynga said that its Baltimore... More of this article »
US Business Executives to Visit Myanmar to Find Investment Opportunities
50 business executives from the United States are scheduled to fly to Myanmar next week to find trade and investment opportunities. The country has eased sanctions against the resource-rich nation according to the US Chamber of Commerce. Tami... More of this article »
US Unemployment Benefits Rise, Return to Levels before the Holiday Season
Applications for jobless claims in the United States increased for the first time in three weeks. It returned to levels before the holiday season and showed little change in the rate of firings. Unemployment benefits went up by 20,000... More of this article »
Transocean Gets Approval for $1 Billion Settlement
Transocean Ltd. received the approval from the court for its $1 billion settlement with the United States in connection to the pollution claims from the 2010 Gulf of Mexico oil-rig explosion that caused the largest offshore spill in... More of this article »
Nestle Issues Recall Order after Discovery of Horse Meat DNA
Food giant Nestle has stopped the deliveries of all its products that have beef from a German supplier because of traces of horse DNA in the meat. This is according to the web site of the Swiss-based food company. Nestle also announced... More of this article »
Maker’s Mark to Restore Alcohol Content
Maker’s Mark announce that it would reduce the alcohol content of its whisky by 3 percent in order to keep up with the demand but its customers were unhappy with the change. Thousands of drinkers complained about the change and the... More of this article »
US Small Businesses have Difficulty in Hiring Qualified Employees
The economy is slow and the unemployment rate is high but according to a report, 53 percent of US small-business owners said they find it difficult to find qualified employees they need. This was according to the Wells Fargo/Gallup... More of this article »
Nvidia 1st Quarter Sales Estimates Lower than Analyst Forecast
Nvidia gave its forecast for the fiscal first quarter sales that was below the estimates made by analysts due to the low demand for personal computer parts and stiff competition in new markets. Sales in the period ending in April will... More of this article »
Coca-Cola Reports Increase in Profit in 4th Quarter
Coca-Cola reported that its profits increased modestly in the fourth quarter. It benefitted by the growth in emerging markets. Its net income was $1.9 billion, which is 41 cents per share, compared to $1.8 billion, 39 cents per share,... More of this article »
Fed Official Says Fixing Job Market Could Take Several Years
The Federal Reserve has prioritized improving the job market but a high ranking official said that the task could take several years. Janet Yellen, who is the vice chairwoman of the Federal Reserve Board and number two in command to... More of this article »
Boeing Takes Dreamliner on First Test Flight
Boeing has taken its first test flight of its 787 Dreamliner since problems connected to the lithium-ion batteries found aboard two planes grounded the fleet of new planes a month ago. The company didn’t issue any results from the... More of this article »
AMR and US Airways Close to a Deal
The boards of US Airways and American Airlines parent AMR Corp. are said to be close to a deal to merge the companies and create an airline that would be one of the world’s largest. The AMR board is set to meet Monday and the directors... More of this article »
Retailers Report Strong Sales in January
Americans went out and shopped the winter clearance racks in January that resulted in strong sales for retailers. Spending is expected to slow as the deals dry up and American consumers begin to feel the increasing gas prices as well... More of this article »
Post Office Plans to End Saturday Delivery
The US Postal Service proposed to stop Saturday mail delivery as part of its battle for fiscal viability. Postmaster General Patrick Donahoe said package delivery will continue on Saturdays when the plan is implemented in August. Package... More of this article »
Zynga Announces 4th Quarter Profits
Zynga surprised analysts when it announced its fourth quarter earnings and sales that topped Wall Street forecasts. According to a poll of analysts made by Thomson Reuters, they estimated a loss of 3 cents per share and $212 million... More of this article »
Zoetis IPO Gets Biggest Gains since Facebook
Zoetis Inc. is a spinoff from Pfizer Inc. Its IPO was a hot among investors Friday as its shares increased 20 percent from the initial price of $26. The company is a maker of animal health products. Its shares ended the day up $5.01... More of this article »
Halburton Reports Earnings above Forecast in 4th Quarter
Haliburton’s overseas business gave the company the boost it needed to life its fourth quarter earnings above expectations. This underscored how the company struggled due to the glut of natural gas. Shares of the world’s second... More of this article »
Boeing Continues to Build 787 Dreamliners
Boeing is still building more 787 Dreamliners even if nobody is allowed to fly them. All 50 Boeing 787 Dreamliners across the globe are grounded pending the result of a federal probe on electrical fires. The company kept its assembly... More of this article »
US Airways 4th Quarter Profit Doubles
US Airways reported that its net income doubled in the fourth quarter and executives said that the strong demand the airline is experiencing at the moment is a precursor to higher fares. The profits went up to a record revenue as it... More of this article »
In-store Shoppers to Go Online Next Time They Buy
According to a study from the International Business Machines Corp, majority of shoppers made their purchase in a store and not from online stores. More than 80 percent of shoppers polled by IBM bought something at a store but only... More of this article »
Consumers Push Up Retail Sales in December
Economists were worried about the looming tax increases and spending cuts at the end of 2012 and yet consumers kept on shopping. Retail sales in the United States increased 0.5 percent to $415.7 billion in December. They didn’t worry... More of this article »
HP CEO Whitman Calls Windows 8 a Work in Progress
Some people say that Meg Whitman doesn’t have the experience to run a $120 billion company such as Hewlett Packard. There are some who say that shoe’s more of a smooth talker than a down-and-dirty operator. Whitman contends that... More of this article »
House Republican Open to Tighter Gun Control Laws
Georgia Representative Phil Gingrey outraged Liberal observers when he spoke about rape and pregnancy when he spoke before the Chamber of Commerce in his Atlanta-area district. He said that his position was misconstrued. Representative... More of this article »
Fiscal Cliff Worries Lead to Less Hiring and Investment
At least one in four small and medium sized businesses in the United States said they scaled down on hiring and investment in late 2012 due to concerns about the fiscal cliff. Almost a third of chief executives surveyed said they had... More of this article »
US FDA Proposes New Food Safety Rules
US regulators proposed new food safety rules Friday that would make food processors and farms more accountable for decreasing foodborne illnesses that kill thousands of Americans per year. The new regulations are required by the Food... More of this article »
Wind Energy Tax Credit Gets Extended for One Year
Senator Mark Udall of Colorado praised the one year extension of the wind production tax credit. He said that it was vital for the state’s wind power industry. He added that extending the wind production tax credit is long overdue.... More of this article »
2 Best Buy Directors Resign
Best Buy announced that two of its board directors resigned, one of whom was its former chief executive. It happened almost seven months after its founder left the board. The Best Buy board will now have four vacancies. The company’s... More of this article »
Congress Reaches Compromise on Milk Prices
Congress can’t seem to reach an agreement with regards to the fiscal cliff but the leadership of the agriculture committee said that they have a compromise on the farm bill Sunday. The deal would keep milk prices from increasing... More of this article »
SeaWorld Files for IPO
SeaWorld Entertainment is the operator of aquatic amusement parks owned by buyout firm Blackstone Group LP. It filed for an initial public offering last December 27. It hoped to raise $100 million from the IPO, which is the placeholder... More of this article »
Amazon Records Best Holiday Season
Amazon has a lot to thanks about in 2012. It recently announced that the Kindle Fire HD was the top selling, most gifted, and most wished for product on Amazon. It also said that the company topped in customer satisfaction during the... More of this article »
Retailers Remain Hopeful about Post-Christmas Sales
The report on the holiday retail season showed bleak results and made people wonder about the economy’s recovery. Local and national retailers are still hopeful that the next couple of days of post-Christmas shopping could bring... More of this article »
Drought Threatens to Shut Down Shipping on Mississippi River
The Mississippi River is still open for shipping at present but that would not be the case in January. A drought in the Midwestern has brought the water level in the river to a very low level that it threatens to shut down shipping. The... More of this article »