Home » Business
Prices of iPhones Slashed at Walmart
Walmart had aggressively slashed its prices on the iPhone 4S and the iPhone 5 made by Apple. Starting yesterday, the iPhone 5 will cost $129 and the iPhone 4S will be just $39. For the prices to be valid, a contract for 2 years must... More of this article »
Billionaire Wants To Make Dole Food A Private Company
Self-made billionaire David H. Murdock is betting he can take Dole Food private…again. Mr. Murdock, the chairman and chief executive of the company, offered to buy the 60 percent of Dole he did not already own, offering a price of... More of this article »
NSA Controversy Bad for US Tech Companies
Most Americans are now worried about their privacy after the disclosure of the secret National Security Agency surveillance programs. In an effort to relieve the concerns, a senior administration official said that President Barack... More of this article »
Skilling, Ex CEO of Enron has 10 Years Cut from Sentence
On Friday, the prison sentence for Jeffrey Skilling the former CEO of Enron was cut by 10 years by a federal judge. This officially closed the book on one of the country’s most spectacular cases of white-collar crime in the past... More of this article »
Georgia’s Jobless Rate and Hiring Up in May
The unemployment rate in the State of Georgia increased in May to 8.3 percent but labor officials said that job growth also gained during the month. The seasonally adjusted jobless rate is up one-tenth of a percent from 8.2 percent... More of this article »
US Companies Want to Save Corporate Tax Loopholes
Corporate America managed to lobby for loopholes in the tax code that benefits the companies. They are also working doubly hard to keep them as is. US companies have been showering Washington with money in an effort to thwart away... More of this article »
Google Spends $1 Billion To Purchase Waze (NASDAQ: GOOG)
Google has closed its deal to buy Waze, a popular social mapping start-up, for the price of about $1 billion. Both Google and Waze declined to have any executives available for an interview about the sale, but several executives released... More of this article »
Taxpayers Pay Millions for Fed Workers Student Loan Relief
Federal workers have their student loans subsidized by the government. This was designed to make jobs in the government more attractive to those who might earn more in the private sector. The perk is now up for the chopping block. It... More of this article »
Supreme Court Allows Regulators to Challenge Generic Drug Agreements
The Supreme Court ruled that antitrust regulators could challenge the agreements that allow rival drug makers to postpone the sale of a generic drug. The arrangements, known as reverse payment or pay for delay, allow brand name drug... More of this article »
Car Sales in Europe Hit Record Lows
Car sales in May for Europe plummeted to their lowest level in more than 20 years, which further eroded the hopes of manufacturers to see a recovery in 2013. France, Italy and Germany account for nearly 50% of the sales in the embattled... More of this article »
Bidding for Back Bay Parking Spaces Reaches $560,000
The piece of land is just big enough to fit two cars. It has weeds in its borders and a utility pole. But the auction for it has attracted a crowd. It is because the piece of land is a pair of tandem parking spaces in Back Bay, which... More of this article »
Concerns about Origins of Genetically Modified Wheat Affect US White Wheat
Unapproved genetically engineered wheat was discovered in Oregon. Concerns about the discovery have been pressuring the US white wheat market for more than two weeks. Major buyer Japan extended the ban on wheat from the Pacific Northwest... More of this article »
Unemployment Claims Drop to 334,000 Last Week
There were less Americans who applied for unemployment benefits last week than the estimate. This showed that companies fired fewer workers as growth cooled in the quarter. Jobless claims declined 12,000 to 334,000 in the week that... More of this article »
Share of Homeowners with Negative Equity Drop 20%
The share of borrowers who owe more than the worth of their homes dropped to less than 20 percent in the first three months of the year. At the same period, prices went up in hard hit markets. This was according to data from CoreLogic... More of this article »
Walgreen Testing Energy-Saving Ideas For Its Stores (NYSE:WAG)
The Walgreen Company keeps seeing the consumption of power at its stores inching up. To explore options to significantly reduce its electricity use, the company is building an experimental “net zero energy store” just north of... More of this article »
Banks Earn Big on Overdraft Fees
The majority of banks earns large profits in overdraft fees by allowing customers to overdraw their checking accounts. This was according to a recent report released by the Consumer Financial Protection Bureau. Consumer groups want... More of this article »
Navistar Announces Losses Larger than Estimates in 2nd Quarter
Navistar International Corp. said its losses in the second quarter was larger than the estimates as the company absorbed higher warranty costs and lost sales as it shifted into a new engine technology. Jack Allen, chief operating officer... More of this article »
More Companies Allow Workers to Buy and Sell Vacation Time
A new survey showed that more companies are looking at their employee’s vacation time differently. The poll made by the Society for Human Resource Management indicated more employers changed the way they see their workers’ vacations.... More of this article »
PRISM Beneficial for US Tech Companies
US-based Internet services have a lot of users from outside the country. Google’s e-mail service, Gmail, has its servers in the company’s headquarters in California. Its business is international with less than 30 percent of the... More of this article »
Wells Fargo Settles Discrimination Complaint with $42 Million
Wells Fargo agreed on Friday to pay a settlement of $42 million for a complaint that was filed in April of 2012 by the NFHA or the National Fair Housing Alliance. The NFHA complaint alleged that the bank marketed and maintained repossessed... More of this article »
Facebook Exploring Mobile Map Options (NASDAQ: FB)
Facebook is said to be exploring options to purchase a leading mobile navigation service called Waze, based in Israel. The potential purchase price for the navigation service could run as high as $1 billion. Purchasing the service... More of this article »
Jobs Market to Continue Slow Growth
The federal budget cuts might have affected how the government added new jobs but the private sector continued to create new ones at a slow but steady pace. Small businesses have experienced obstacles in their way and yet they are... More of this article »
IMF Lowered Standards to save Greece
On Wednesday, the International Monetary Fund announced that it had lowered its standards for sustainability of debt so it could bail out Greece. The group also said its projections for the economy in Greece might have been too optimistic. The... More of this article »
Amazon Expands Business with Online Grocery
Amazon.com is said to be planning to come out with an online grocery that it has been developing for several years. The company has set its sights on the biggest retail sector that has yet to be taken over by e-commerce. Food is a... More of this article »
San Diego Tourism Agency Closes Down
The tourism agency of San Diego announced that it will close down Monday because the city hasn’t released the money it needs to pay its workers. Mayor Bob Filner said that he is withholding millions of dollars in tourism marketing... More of this article »
Obama Extends Making Home Affordable Program
The US Treasury Secretary Jack Lew announced that President Barack Obama’s Making Home Affordable Program would be extended until December 31, 2015. This would keep it align with deadlines of other federal housing programs and initiatives. The... More of this article »
House Passes Student Loan Bill
The House passed a measure Thursday that would prevent the doubling of student loan interest on July 1. The legislation would keep the rates at prevailing market trends and end federal subsidies. It was voted along party lines, 221... More of this article »
Economic Growth in First Quarter Moderate
According to the Commerce Department, the economy grew at a modest annual rate of 2.4 percent in the first quarter of 2013. It was slightly slower than the estimate. Consumer spending was stronger than the estimates made by economists... More of this article »
Will Yahoo! (NASD: YHOO) Return To Glory?
Yahoo! (NASD: YHOO) is aiming to reverse its fortune, and while it has historically committed to organic growth, it has now deviated from this trend. The recent news of the firm buying Internet blogging startup Tumblr for $1.1 billion... More of this article »
Another Snafu at J.C. Penney (NYSE: JCP): This Time an Ad That Resembles Hitler
JC Penney (NYSE: JCP) just can’t seem to get out of its own way lately. The firm has struggled mightily in recent years and suffered one after another public relations disasters. First, the firm ousted it’s entire retail management... More of this article »
Wal-Mart (NYSE: WMT), Target (NYSE: TGT) and Other Retailers Embroiled in Lawsuit with Visa (NYSE: V), MasterCard (NYSE: MA)
Wal-Mart (NYSE: WMT), Target (NYSE: TGT), and Sears Holdings Corp (NASD: SHLD) rarely find themselves agreeing, much less banding together on any one issue. When it comes to dealings with credit card companies though, that is all changing.... More of this article »
Oil Price Increases to $95 per Barrel
Oil price increased to $95 per barrel Tuesday due to the gains on stock markets across the globe. Benchmark oil for July delivery went up 86 cents to close at $95.01 per barrel. It was the first increase for oil in five trading sessions. Oil... More of this article »
US Housing Market to Continue Growth
Analysts from the National Association of Realtors and investors are confident about the future of the housing market in the United States. They based their forecasts on current economic and employment data. Stocks of home improvement... More of this article »
Amazon Sees Profit Fall In First Quarter (NASDAQ:AMZN)
Profits at Amazon decreased 37 percent for the first three months of the year. The Internet retailer expected the drop, which was a bit less than some investors had forecast. Amazon reported net income of $82 million, or 18 cents a... More of this article »
Google Nears Antitrust Deal Over Web Searches (NASDAQ:GOOG)
Google took another step toward reaching an antitrust settlement with European Union regulators. Google has apparently offered concessions that are acceptable to the European Commission, which would allow the company to avoid a guilty... More of this article »
Jobless Benefits Drop Last Week
The number of Americans who applied for jobless benefits dropped 23,000 last week to a seasonally adjusted 340,000. The number was consistent with the solid job growth. The four week average, which is said to be a less volatile measure,... More of this article »
Barrick Gold Corp has mine construction stopped by Chilean Government
The Chilean government created the Environmental Superintendency recently to make certain that its environmental laws were adhered to. At the end of 2012, the governmental entity began its operations because of the growing concern... More of this article »
US Against the $20 Million Severance Package to AMR CEO
The Justice Department publicly announced its opposition to American Airlines’ plan to pay $20 million in severance to Chief Executive Tom Horton as part of the carrier’s merger with US Airways Group Inc. The US trustee’s office,... More of this article »
Middle East Revenue for Huawei Increases
Huawei Technology saw an increase of 18% in revenue in the Middle East during 2012. The company also said that its 4G mobile network roll out and its IT outsourcing will be the main drivers in its regional growth. The second biggest... More of this article »
Unemployment Claims Drop as Consumer Comfort Increases
There were fewer Americans who applied for jobless benefits last week. At the same time, consumer confidence neared a five year high as the largest part of the economy benefited from improving housing and job markets. Unemployment... More of this article »
Apple Tax Scandal can Lead to the Scrapping of Corporate Tax
Apple is described as a tax dodger that deprived the US taxpayers of billions. The company used schemes in order to avoid paying taxes. US senators grilled Apple CEO Tim Cook with regards to the company’s tax practices. Senator Rand... More of this article »
Herbalife Employs PwC as Auditor
Herbalife announced that it has hired PricewaterhouseCoopers LLP PWC.UL as its auditor. The firm replaced KPMG after allegations of insider trading. After the announcement was made, shares of the company increased 4 percent in afternoon... More of this article »
Apple Avoids Billions via Tax Shelters
Apple is the nation’s most profitable technology company and yet it managed to avoid paying billions in taxes in the United States and across the globe via a network of subsidiaries that were set up all over the world. This was according... More of this article »
Glass Point Solar Expanding into Middle East
California based GlassPoint Solar Inc said on Monday it had commissioned an oil recovery plant of 7-megawatts that is producing more than 50 metric tons of steam daily. The steam is injected into the oilfield at Amal in the southern... More of this article »
Tallapoosa County Unemployment Rate Drops to 7%
Tallapoosa County’s jobless rate dropped 1.9 percent from January 2013 to April 2013. This was according to the most recent report released by the Alabama Department of Labor. The county’s jobless rate was at 7 percent in April.... More of this article »
Actavis to acquire Warner Chilcott
Actavis, the generic drug maker, has been talked about over speculation of being taken over, is planning to buy Ireland’s Warner Chilcott the specialty pharmaceutical firm for a price of $5 billion. Both companies announced the deal... More of this article »
Dow and S&P Close at Record Levels
Stocks continued their upward trend Friday as the market got their fourth straight week of gains that was attributed to the encouraging economic reports that prompted investors to opt for shares of growth companies. The Standard &... More of this article »
More Confidence and Optimism over the U.S. Economy
For four straight weeks, the major stock indexes in the U.S. have increased reaching new highs. This week was the same as new data released has indicated the confidence amongst small business and consumers has improved, which helped... More of this article »