Business News

States Face High Stakes in Bid for Tesla Factory

Posted: 08/31/2014 - Tesla Motors has five states bidding to attract a $5 billion factory that will make batteries for a new generation of electric cars. The winner is expected to offer publicly financed incentives exceeding a half-billion dollars.

Burners Bring Business Back

Updated: 08/29/2014 - Burning of the man takes place Saturday night, August 30, 2014. And then, the mass exodus from Black Rock City begins. Typically, though, many burners won't just drive past the Reno-Sparks area on their way home.
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Obama to Raise Federal, Military Pay by 1 Percent

Posted: 08/29/2014 - President Barack Obama is offering civilian federal workers and members of the military a 1 percent pay increase in 2015, the same raise he offered last year citing efforts to keep government costs down during the economic recovery.

Local Restaurant Claims Construction Has Deterred Business

Updated: 08/27/2014 - If you're a commuter, there's no doubt that construction can be a major headache. Some businesses in the thick of it say they're the ones paying the price. The owner of Opa Café on Second Street says construction is ruining his business.
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Drone Company to Bring 400 Jobs to Reno

Updated: 08/27/2014 - Governor Brian Sandoval along with several other elected officials gathered at the Reno Stead Airport Tuesday afternoon to announce a new drone-based company that is headed to Reno.
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More Business News

Economic News

  • Low Inflation Pressures ECB
    Low German inflation and falling Spanish consumer prices put added pressure on the ECB to take steps to prevent ultralow inflation from further damaging the euro zone's stagnant economy.
  • Inflation Pressure Eases, Letting Fed Focus on Jobs
    Inflation pressures have eased after a brief run-up this spring, giving the Federal Reserve more latitude to focus on bringing down high unemployment.
  • U.S. Consumer Spending Declines
    Household spending fell in July, a sign that cautious consumers could hold back economic growth in the second half of the year.
  • Atlantic City's Big Bet on Gambling Sours
    The sudden closing of Atlantic City's two-year-old Revel casino hotel, plus two other casinos shutting their doors in the next few weeks, marks the end of the New Jersey city's decades-long reliance on gambling to stay afloat.
  • Treasury Head to Speak on Inversions
    U.S. Treasury Secretary Jacob Lew is planning a Sept. 8 speech about a controversial corporate strategy known as tax inversions, suggesting that the White House could be progressing in its effort to upend the practices.
  • GDP Expanded at 4.2% Rate in Second Quarter
    The U.S. economy's second-quarter rebound was more robust than previously thought, putting the recovery back on track as it ended its fifth year.
  • Lending for Construction Grows 4% in 2nd Quarter
    Construction lending posted the largest gain of its yearlong recovery in the second quarter, signaling that the real-estate industry's rebound is gaining steam, albeit slowly.
  • U.S. Banks Boosted Lending in Second Quarter
    U.S. banks increased their loan balances in the second quarter of 2014 by an amount not seen since before the financial crisis, a government report said, offering evidence of a pickup in lending as the economy slowly recovers.
  • Mexico Looks to Raise Wages
    Mexico City's leftist Mayor Miguel Ángel Mancera raised pressure on the federal government with a proposal to lift the federal minimum wage—which lags only behind Haiti in the hemisphere—to $6 per day for 2015.
  • Fed Leaders Have Diverse Financial Situations
    The leaders of the Federal Reserve's 12 regional banks reflected widely divergent financial situations last year, according to annual disclosure forms released Thursday.

US Business News

  • Iliad Weighs New T-Mobile US Bid
    French telecom company Iliad said it is in talks with several potential partners to file a new bid for control of U.S. operator T-Mobile US.
  • EU Questionnaire Probes Facebook, WhatsApp Deal
    European Union antitrust officials have sent a detailed questionnaire to competitors and customers of Facebook and message service WhatsApp as they probe the proposed $19 billion deal.
  • Nike Keeps NBA Star Durant
    Nike has resigned Kevin Durant, NBA's reigning most valuable player, to a shoe contract potentially worth $350 million, fending off rival Under Armour.
  • Apple's New Whiz Kids
    Apple and Google are providing scholarships and developers kits to software coders as young as 13 years old, looking to land whiz kids interested in writing apps for their smartphones and tablet computers.
  • Luxottica CEO Steps Down
    Luxottica Group SpA, the world's largest eyewear maker, said Andrea Guerra had stepped down as chief executive, as expected, after almost 10 years.
  • Novartis Heart Drug Beats Rival
    A heart drug developed by Novartis reduced cardiovascular deaths by 20% when compared with a rival treatment.
  • Business in China Gets More Perilous
    The troubles for U.S.-based food processor OSI are a lesson in the perils faced by foreign companies in China, when operations are under unprecedented scrutiny and negative publicity can destroy a business almost overnight.
  • Malaysia Set to Implement Consumption Tax
    Malaysia's government is on track to introduce a long-delayed consumption tax of 6% in April 2015, Dato' Sri Abdul Wahid Omar, minister in charge of economic planning, said Monday.
  • China Gives Microsoft Deadline
    China has given Microsoft 20 days to provide a written explanation of what was described as problems with compatibility and bundling, adding pressure on the company amid an antitrust investigation.
  • Alibaba Plans IPO Launch Week
    Chinese e-commerce company Alibaba plans to launch its U.S. initial public offering, which could raise more than $20 billion, early in the week of Sept. 8.
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