Business News

BofA Reaches $17B Settlement With US

Posted: 1:53 PM - Officials familiar with the deal say Bank of America has reached a record $17 billion settlement with federal and state authorities over its role in the sale of mortgage-backed securities in the run-up to the 2008 financial crisis.

Lucrative Grand Canyon Contract Up for Bid

Posted: 08/19/2014 - One of the most lucrative contracts in the National Park Service is going out to bid for a third time, after Grand Canyon officials found the previous bids unacceptable.

US Retail Sales Flat in July

Posted: 08/13/2014 - U.S. retail sales were essentially flat in July, providing evidence that consumers have yet to shed their doubts about the economy despite recent job gains.

Local Businesses Alter Hours For New School Schedule

Updated: 08/08/2014 - When the Washoe County School District adopted a new school calendar last year, it left more time for families to take vacations throughout the year. But for some businesses that employ high school kids, and cater to the younger crowd, the new calendar has meant a new business plan.

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Economic News

  • Fed Debates Early Rate Hikes
    Federal Reserve officials debated at their July policy meeting whether they might need to raise interest rates sooner than expected in light of a strengthening recovery, but they were restrained by lingering doubts about whether the economy's gains would persist.
  • U.S. Home Size Levels Off, for Now at Least
    The two-year trend of big houses getting even bigger appears to have peaked—at least for now—as more buyers seeking modest homes enter the market.
  • In Phoenix, a Realty Check as Market Moderates
    Phoenix stands as a prime example of how some of the country's hottest housing markets are struggling to pass the baton from bargain-hunting investors to traditional buyers.
  • Regulators Eye Variable Annuity Sales
    Responding to customers' complaints, some states are putting a spotlight on how financial advisers sell variable annuities—and the results aren't pretty.
  • U.S. Consumer Prices Rose 0.1% in July
    Consumer prices advanced in July at their slowest pace since February, which could give the Federal Reserve more flexibility to maintain policies designed to stimulate stronger economic growth.
  • Thai Air Force Chief Battles Ailing Economy
    Air Chief Marshal Prajin Juntong, in his role as Thailand's economics czar, is working to lure foreign investment to bankroll the ruling military junta's ambitious spending plans.
  • Bundesbank Warns on German Growth
    Germany's Bundesbank has warned that global tensions such as the crisis in Ukraine are weighing on the outlook for Europe's largest economy, putting assumptions about the strength of the country's growth at risk.
  • Treasury to Address Inversions
    Treasury officials are assembling administrative options for Secretary Jacob Lew to consider on ways to deter or prevent U.S. companies from reorganizing overseas.
  • U.S. Home-Builder Optimism Rises
    Home builders grew more optimistic in August as an improving job market and falling mortgage rates boosted the outlook for home sales.
  • Fed Bets It Won't Fall Behind Curve on Rates
    Many economists fear the Fed will wait too long before raising interest rates, but officials believe markets and economic indicators aren't signaling an economy near overheating.

US Business News

  • Yoga Poseurs: Athletic Gear Soars, Outpacing Sport Itself
    The rate of growth in the U.S. retail athletic apparel market is surging, even as Americans' rate of participating in most sports is in decline. For instance, the demand for yoga gear is outpacing growth of the sport itself.
  • Russia Shuts Four Moscow McDonald's
    Russia temporarily closed four McDonald's restaurants in Moscow, citing sanitary violations, amid the country's most-serious confrontation with the West since the Cold War.
  • Saint Laurent Bets on Rock-Star Style
    Hedi Slimane is opening a Los Angeles store that will be the brand's largest, unseating the Paris flagship and continuing a shift in focus toward L.A.'s chic cultural scene.
  • Antivirus Works Too Well, Gripe Cybercops
    For years, police have been in a cat-and-mouse game with a shifting foe that can frustrate investigations—antivirus software.
  • Shopper Malaise Hangs Over Target
    Target cut its outlook for the second time this year as traffic at its stores fell again, even though the discounter ramped up promotions to bring shoppers in.
  • Hot New Job: Migrant Beer-Canning Expert
    Mobile canning companies help craft beer move into the mainstream.
  • H-P Delivers Fleeting Reward
    H-P's revenue rose 1.3% in the three months ended July 31, the first sales increase after 11 straight quarters of decline. However CEO Meg Whitman cautioned that the revenue growth may not last.
  • N.C. Moves to Regulate Coal Ash
    North Carolina lawmakers Wednesday passed new legislation they say will regulate coal-ash pits and clean up decades of toxic waste generated by coal-burning electricity plants.
  • Private-Equity Firms Pursue Buyout of American Tire
    A handful of private-equity firms are vying to buy American Tire Distributors Holdings Inc. in an auction that could fetch more than $3 billion, according to people familiar with the matter.
  • Glencore Plans $1 Billion Buyback
    Glencore said it would buy back $1 billion in shares and avoid expensive expansion projects. But CEO Ivan Glasenberg signaled possible interest in mining assets that BHP plans to spin off.
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